So using the Mouseprice monitor to see what level of price cuts are at the bottom of page 1 and page 5 for a few 'hot' areas of the London property price bubble
Knightsbridge and Belgravia
http://www.mouseprice.com/property-for-sale/knightsbridge+and+belgravia+city+of+westminster?SortBy=5
The Royal Borough
http://www.mouseprice.com/property-for-sale/kensington+and+chelsea+(royal+borough)?SortBy=5
Fulham
http://www.mouseprice.com/property-for-sale/fulham,+hammersmith+and+fulham?SortBy=5
Weybridge, Surrey
http://www.mouseprice.com/property-for-sale/weybridge,+surrey?SortBy=5
Price reduction at the bottom of Page 1
Date 26 Jun 3 Jul 11 Jul 17 Jul 24 Jul 19 Feb
K&B -15% -15% -15% -16% -17% -15%
RB -25% -25% -25% -25% -25% -26%
Ful. -18% -18% -18% -18% -18% -19%
Weyb. -13% -13% -13% -13% -14% -12%
Page 5
Date 26 Jun 3 Jul 11 Jul 17 Jul 24 Jul
K&B -4% -5% -5% -6% -6% -7%
RB -15% -15% -15% -16% -16% -18%
Ful. -9% -10% -10% -10% -10% -10%
Weyb. Flat -1% -1% -1% -2% 0%
So I have detected the first hints of downwards price movement.
ReplyDeleteA little bit more movement.
ReplyDeleteSpeaking to a neighbour who works in resi sales and lettings in Knightsbridge, the market is completely frozen at the moment.