Just been told that the market is cooling in SW London

theEnd

theEnd wrote: »

Will be interesting to see the next few months of the rightmove index. Initial asking prices are down considerably.

Might not show in LR index as I'm not sure the crazy asking prices of late '13 / early '14 were ever achieved.

But a definite, substantial fall in asking prices at the moment.

London asking prices down another 5.9%
http://www.theguardian.com/money/2014/aug/18/august-house-prices-slump

observingthedebate

theEnd wrote: »

London asking prices down another 5.9%
http://www.theguardian.com/money/2014/aug/18/august-house-prices-slump

Not sure I have seen similar in SW17. Perhaps the reductions will be coming shortly. Certainly not much is getting under offer. In the last few weeks i have seen a few properties withdrawn.

the_flying_pig

yeah, my strong sense & that of every informed [& honest, i.e. notEAs] person who i speak to is that prices certainly haven't been going upquickly this summer in the way that they were in 2012, 2013, & as recentlyas this spring.

what'll happen next, & for now whether they're go up a little, flattish,going down a little, is v hard to say, but, yes, at the moment they've sloweddown.

chewmylegoff

observingthedebate wrote: »

Not sure I have seen similar in SW17. Perhaps the reductions will be coming shortly. Certainly not much is getting under offer. In the last few weeks i have seen a few properties withdrawn.

Rightmove say Wandsworth is down 8.4% month on month, down a total of 13.5% since may, so new listings must be coming in lower (although it is just a straight average so could be due to more flats coming to the market compared with previous months).

Rightmove index doesn't measure cuts to asking prices after the property has been listed - only looks at the initial asking price.