Wednesday, August 20, 2008

London Housing Down Across the Board

The Guardian Reports:

Asking prices in London fell 5.3% in August, according to the Rightmove house price survey - equivalent to a £21,000 drop in a single month. Prices in some of the most sought-after suburbs are falling much lower. The average asking price in Wandsworth fell from £522,000 to £481,000 in a single month - or 7.9%. Homes in Brent, Kingston-upon-Thames, Richmond-upon-Thames and Greenwich were down more than 6.5%.
Below we can see that price drops were not contained in just one segment of London's real estate market.






















Source: Credit Writedowns