London Has Peaked

setmefree2

UK house price growth slows, says ONS

"The pace of annual house price growth fell across the majority of the UK in April 2015," the ONS said.
Prices in London rose 4.3%, the lowest growth rate in two-and-a-half years.

London prices increased by 4.3% over the year to April 2015 (down from 11.2% in the year to March 2015). This is the lowest annual rate of growth for London since October 2012.

The price index for London is now 1.6% below the record level of 243.5 in August 2014 with an index of 239.7 in April 2015. However, the London index is 37.4% higher than the pre-economic downturn peak in January 2008 (174.5).
In April 2015, London continued to be the English region with the highest average house price at £493,000

Prices peaked at £514,000 in August. So down £21,000.

On a monthly basis, UK prices fell by 1.3% from March, with the average house price standing at £271,000.

During the year to April 2015, average house prices increased 5.8% in England (down from 9.4% in the year to March 2015), 1.3% in Wales (down from 5.7%), 2.2% in Scotland (down from 14.6%) and 8.8% in Northern Ireland (up from 7.5%).
In April 2015, the England and Scotland house price indices both fell from the record levels witnessed last month.

http://www.bbc.co.uk/news/business-33148004

http://www.belfastlive.co.uk/news/belfast-news/house-prices-rising-just-two-9463249

onthehill

I think if you read the articles on those findings it will be pointed out that april was just before the general election which was reckoned to soften the market because of what some refer to as "uncertainty".

padington

Looks like M&S in Woodgreen are either admitting it's an old persons brand now or they don't know what they're doing ...

http://www.haringey.gov.uk/news/mands

onthehill

Am confused by the relevance of that post to the thread padington.

padington

padington wrote: »

Yes and have been egging on people to join the party for three years. With Ally Pally getting a 29 Milllion spent on it and the Wooders high street street getting a 4.3million and the industrial estate around the chocolate factory becoming one of the biggest areas of regeneration in London, joining Hornsey with Wood Green highstreet - it was and still is a pretty good tip.

... Was previously discussed in this thread. It's a London centric debate that has been argued the toss on this thread.

setmefree2

Stamp duty rise hits London home prices with fastest fall since the crash

Property prices in central London are falling faster than at any time since the financial crash, with family homes down as much as 10 per cent.

Official government housing market data next month is expected to show the first year-on-year falls in London since 2012. Some sellers have been forced into huge asking price cuts in a bid to drum up interest in exclusive neighbourhoods where gazumping and sealed bids were the norm a year ago.

Figures released this week by HMRC show that revenue from stamp duty — once one of the Treasury’s fastest-growing fiscal “cash cows” — are now in rapid decline, partly due to the slump in sales at the top end of the market.
In the first six months of the year the Government raised £4.45 billion from stamp duty, down £1.58 billion, or 26 per cent, compared with the second half of 2014. The fall will alarm Treasury number crunchers who have been relying on fast-rising stamp duty receipts to help close the deficit.

http://www.standard.co.uk/news/london/stamp-duty-rise-hits-london-home-prices-with-fastest-fall-since-the-crash-10413171.html

padington

setmefree2 wrote: »

http://www.standard.co.uk/news/london/stamp-duty-rise-hits-london-home-prices-with-fastest-fall-since-the-crash-10413171.html

That's homes over a million quid because of the stamp duty, first time buyer homes in north west and north London went up an astonishing amount in the last 12 months ....

http://www.cityam.com/221001/london-house-prices-north-south-divide-emerging-londons-property-sector

Been saying for a while, buy Haringey, cheapside.

wotsthat

London prices up 9.2% since the 'peak' according to Land Reg.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447551/June_2015_HPI.pdf

The June data for London shows a monthly increase of 1.8 per cent. At 9.2 per cent, the annual change for London is considerably higher than most other regions. The average price of property in the capital is £481,820 in comparison with the average for England and Wales of £181,619.

mayonnaise

Bubble_and_Squeak wrote: »

prices in newham (my target area)

Up 16% YoY.
Dearie me.

MARTYM8`

mayonnaise wrote: »

Up 16% YoY.
Dearie me.

Do you mean dearie me cos their target area is Newham?:D