London price surge breaks records

NoelC

Seems that buyer enquiries in the month since the election are dramatically up:
https://www.cityam.com/post-election-property-price-surge-breaks-records/

lisyloo

This looks like asking prices to me i.e. housing that has just come to market.


I think the outlook is positive but it's a somewhat misleading headline.
Interest and asking prices are up, not actual sale prices.

NoelC

lisyloo wrote: »

This looks like asking prices to me i.e. housing that has just come to market.

Asking price movements are a leading indicator of what is happening to the market.


If you follow the 18 year property cycle theory, we are just at the end of the mid-cycle wobble (this time caused by Brexit uncertainty) so a steady uptick in London property values for the next 5 or so years seems to have just begun


More on the 18 year property cycle here:
propertyhub.net/course/the-18-year-property-cycle-explained/