Eh? It must be.... Timberrrrrrrrrr

Graham_Devon

House prices in the smartest parts of London have fallen by up to 22% since last Autumn, according to the property services group LSL.

The company said that Kensington and Chelsea had seen prices plummet by 16% since a peak in September 2014.

In Westminster it claimed there had been a fall of 22% between a peak in November, and the end of May.

22% fall in 9 months? Must be worthy of a timber thread!

Those in the know blamed the [STRIKE]snow, sun, drizzle, slight pickup in the breeze, leaves fallen from trees[/STRIKE], stamp duty regime introduced in December 14.

Meanwhile, in the suburbs, prices continued to hit new highs. Presumably due to all those pushed out of other areas?

If it is SOLELY the stamp duty change that's to blame here for the 22% drop it just shows how much of an effect policy can actually have over prices.

http://www.bbc.co.uk/news/business-33086002

Mallotum_X

Uncertainty over the election would presumably also have had an impact at the top end. Which if so would be just a blip as the "right team" won.

caronoel

You are a right one Graham

You have been banging on on this forum for almost a decade now about falling house prices, and yet house prices continue their slow but steady inexorable rise upwards (excluding 18 months in 2008/09).



Do you never feel embarrassed about being so consistently wrong?

mayonnaise

Good news. :beer:

wotsthat

At last - some good news for young people wanting to buy in Westminster where prices have plummeted to what they were 18 months ago.

Parking spaces on Rightmove are up for £100k so I've got a hunch the potential buyers for this area aren't losing sleep about stamp duty changes.

michaels

I thnik Graham has a point, imagine if we applied 118k stamp duty to every property how low prices would fall allowing everyone to buy.....

Killerseven

Graham_Devon wrote: »

22% fall in 9 months? Must be worthy of a timber thread!

Those in the know blamed the [STRIKE]snow, sun, drizzle, slight pickup in the breeze, leaves fallen from trees[/STRIKE], stamp duty regime introduced in December 14.

Meanwhile, in the suburbs, prices continued to hit new highs. Presumably due to all those pushed out of other areas?

If it is SOLELY the stamp duty change that's to blame here for the 22% drop it just shows how much of an effect policy can actually have over prices.

http://www.bbc.co.uk/news/business-33086002

22% drop? Before interest rates go back up! Shocking times.