Hounslow and Redbridge price slide continues
House prices in many London boroughs remain considerably lower than the level of a year ago, it has been confirmed.
The latest figures from Rightmove have indicated that those who have bought property in the capital could be facing negative equity, as values fall further.
According to the study, prices in Hounslow and Redbridge have declined by 1.1 per cent this month, compared to February's level.
And over the course of the last 12 months, these boroughs have experienced drops of 14.1 per cent and 14.7 per cent respectively.
However, the worst annual change has been seen in Waltham Forest, where values are down 18 per cent, while homes in Ealing are now worth 16.2 per cent less than in March 2008.
Martin Ellis, housing economist at Halifax, recently predicted that this year would be another difficult one for the property market - a suggestion that may prompt those looking for a place to live in London to consider renting a house or flat rather than buying.
Published 16th March, 2009
© 2009 Estates IT Limited
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