More London price falls recorded
Another house price survey has shown that London homes are continuing to lose value.
Estate agency Haart has said that the average home in London saw its price fall by 0.9 per cent, with the last year seeing a 17 per cent decline and a further two per cent drop anticipated by the end of 2008.
The firm commented that the improvements in the market brought about by the banking bailout and the base rate cut were counterbalanced by talk of a recession.
Such falling prices may prompt some to avoid buying homes in London due to the risk of negative equity.
It is the latest of many house price indicators showing that London prices are still on the way down.
The Chesterton CEBR House Price Poll of Polls for October gave a smaller annual figure for price falls in the capital at 7.7 per cent, but a larger monthly drop last month of 1.5 per cent.
Published 5th November, 2008
© 2008 Estates IT Limited
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Another house price survey has shown that London homes are continuing to lose value.