London House Prices still rising?

ad44downey

I find this hard to believe but prices are apparently still going up in london, up 4.6% over last 3 months? Is this lies, lies, damned lies and statistics or something substantial?



http://www.ft.com/cms/s/0/6e01a40c-6541-11dd-a352-0000779fd18c.html?nclick_check=1

mewbie_2

Seems like us crazy doom-mongering tin-foil hat wearing nutters have misread the situation.

How could we have been so wrong?

ad44downey

Yes, quite so. The boom in house prices has clearly just restarted after a brief lull. Hold onto to your hats!

mrsukyankee

It also depends on where you are in London...sold prices are not going up in NW London once you leave the more central bits.

stonethrower

Funny the way different organizations come out with different stats nationwide say London is down 3.8% 2nd quarter 2008

http://www.nationwide.co.uk/hpi/historical/Q2_2008.pdf

Zelie

A lot of it does depend on where you live. The areas I am looking at are pretty stagnant with many vendors chasing down prices and still not getting a sale. Lots of houses in a nice area been up for sale since Jan/Feb time!

GracieP

In the zone 3 area where I used to live a house sold in Nov 07 (completed Feb 08) for £325k, with an identical house now listed for £275k. We sold Feb 08 (completed Jul 08) for £310k.

In the zone 3 area I currently live in a house on my street completed in Nov 07 for £647k, and there is currently an identical one on for £520k. So outer London is certainly dropping.