Friday, September 14, 2007

London House Prices Fall Most in Three Years, Rightmove Says

The average asking price for a home in London declined 2.5 percent to 384,439 pounds ($774,000) from August, according to Britain's biggest real-estate Web site. The reading is taken from a survey conducted from Aug. 12 to Sept. 8.

Via Bloomberg

The RighMove House Price Index September 2007

5 comments:

Vonric said...

Maybe something relating to stories like that (this one is too recent thus to explaine the move but the trend is no surprise): http://ukpollingreport.co.uk/blog/archives/1031

French Fry said...

@vonric
yes it's all related. After years of low interest, and low risk premium this is the correction.
Nothing unexpected there.
Just a return to the fundemental - rental yield all over the USA, and Europe. France is falling for the second month.

French Fry said...

at an annual rate that woud be a staggering 27%

Vonric said...

I immediatly thought about you:
http://news.bbc.co.uk/1/hi/business/7029832.stm

French Fry said...

Hey hey

Nice catch... on another bbc article

"Across England, the cost of renting was generally up to 30% cheaper than a mortgage on the same property."

http://news.bbc.co.uk/1/hi/uk/7029135.stm