0 £0.00
This item was added to your basket
Search

Dear visitor,
You are viewing 1 of your 2 free articles


We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

London property bubble set to burst?

As average house prices and transactions across the UK continue rise, with prices up 1.5% to reach £293,000, one could be forgiven for thinking everything was rosy in the property market.


Saul   Chambers

Share on LinkedInShare on Twitter
Saul   Chambers
Share on LinkedInShare on Twitter

However attached comes the news from a Twenty Ci & Homemover report that house prices in the capital have dropped 8.4% with the average inner London house now costing ‘just’ £761,000. *Thousands of young Londoners sarcastically cheer*.

 

With market volatility seemingly dissipating across the UK, following brexit instability, it appears the regions are now safe with only London continuing to suffer as could be expected with its greater exposure to the international market.

 

But are we witnessing the beginning of the bursting of the bubble?

 

Probably not.

 

As a recent Knight Frank report showed despite the (or because of) there has still been a 23% increase in central London sales annually, with them experiencing a 12% increase in new prospective buyers in the first half of this year.

 

As one young Londoner can confirm, cheaper house prices are boosting interest for buyers and despite some consternation about the impact of Brexit, London remains an unbelievably attractive place to live. When a good property comes up at a good price, the chances are you still don’t hang around.

 

 

Return to the Mortgage Conference - News

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Church of England considers Wonga investment

Church of England considers Wonga investment

Metro Bank CRO Aileen Gillan on championing women in credit

Metro Bank CRO Aileen Gillan on championing women in credit

TSB boss Pester steps down over IT failures

TSB boss Pester steps down over IT failures

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group