6.85 drop in December.......shame

6.85 % drop in the ask price

Corresponding drop in sale price



Lovin it lovin it lovin it

Cn someone do me a favour and cut paste Ldn by borough from the Rightmove report (which I cant access for some reason). I heard Chelsea tok a big hit

Borough Dec-07 Nov-07 Mon chg (%) Monthly change (value)
Bark/Dag £227,145 £236,284 -3.90% -£9,139
Barnet £446,691 £463,253 -3.60% -£16,562
Bexley £219,375 £231,446 -5.20% -£12,071
Brent £511,860 £526,634 -2.80% -£14,774
Bromley £322,489 £341,688 -5.60% -£19,199
Camden £668,752 £697,166 -4.10% -£28,414
City of W £943,587 £994,306 -5.10% -£50,719
Croydon £276,942 £289,595 -4.40% -£12,653
Ealing £385,417 £410,860 -6.20% -£25,443
Enfield £318,805 £330,263 -3.50% -£11,457
Greenwich £245,789 £261,264 -5.90% £-15,475
Hackney £425,007 £473,377 -10.20% -£48,370
H & F £672,121 £699,743 -3.90% -£27,621
Haringey £388,708 £402,589 -3.40% -£13,881
Harrow £322,089 £336,152 -4.20% -£14,062
Havering £261,242 £269,384 -3.00% -£8,142
Hillingdon £337,416 £357,258 -5.60% -£19,841
Hounslow £441,201 £461,711 -4.40% -£20,511
Islington £492,951 £538,099 -8.40% -£45,147
K & C £1,572,814 £1,653,696 -4.90% -£80,882
K-u-T £483,285 £518,246 -6.70% -£34,961
Lambeth £371,743 £397,970 -6.60% -£26,227
Lewisham £318,463 £338,249 -5.80% -£19,787
Merton £377,225 £408,564 -7.70% -£31,339
Newham £251,674 £265,407 -5.20% -£13,733
Redbridge £291,176 £301,675 -3.50% -£10,499
R-u-T £530,284 £557,451 -4.90% -£27,167
S/wark £349,208 £380,873 -8.30% -£31,665
Sutton £335,808 £358,119 -6.20% -£22,312
T/Hamlets £395,034 £436,880 -9.60% -£41,845
W/Forest £294,311 £309,866 -5.00% -£15,555
W/worth £468,072 £505,349 -7.40% -£37,277
G/LON £384,632 £412,731 -6.80% -£28,099

Yum yum, 8.5% off in Southwark! (not sure how much of this relates to Dulwich though...)

To underline this with a real life example, a friend of mine was looking at 1 bed flats in Lambeth. One sold in a block he's been looking at for £185k early in the summer. Then he saw one advertised in August/September for £172k, so put in an offer of £167k, which was accepted. This recently fell through because it turns out that there are scheduled common works that added an extra 5k and the sellers were not prepared to lower the price.

Anyway, this week he saw another identical flat in that block (actually in better condition) with an asking price of £160k. Identical properties - a £25k (or about 14%) drop in price.

I think this is a good sign that the tide has turned.

Would be interested if people had any other real examples.

I lived in Southwark until recently (emigrated to NZ two months ago). There are a vast number of new-build flats in the London Bridge/Blackfriars/Elephant areas, and I wonder if the builders might have dumped these at a discount recently? This could explain the rapid price fall.

I haven't seen much about the London 'Low Emissions Zone' charge that will come into effect on the 4th Feb in the media.
How much will this have an effect on things I wonder? ....... I can only see lots of price increases in certain things but the decrease of house prices

"The Low Emission Zone (LEZ) will affect older, diesel-engined lorries, buses, coaches, minibuses and large vans (exceeding 1.205 tonnes unladen weight).

It will also affect other specialist vehicles that are derived from lorries and vans, including motorised horse boxes, breakdown and recovery vehicles, refuse collection vehicles, gritters, sweepers, concrete mixers, tippers, removals lorries, fire appliances, motor caravans, ambulances and large hearses (over 2.5 tonnes).

There will be a phased introduction of the LEZ from 4 February 2008 through to January 2012. Different vehicles will be affected over time and increasingly tougher emissions standards will apply."



http://www.tfl.gov.uk/roadusers/lez/2526.aspx

Geez out of the frying pan into another house price fire.