Property News · May 17, 2016

House prices fall in London’s luxury postcodes


Oil price, stamp duty and Brexit fears cause drop in areas such as Notting Hill and Hampstead but market rises elsewhereLondon’s luxury postcodes have seen house prices fall by as much as 11.8% over the past year, but the property slowdown is a “myth” in much of the rest of the capital.Data from the estate agency Stirling Ackroyd published on Tuesday showed that the price of homes in 47 out of 272 postcode areas fell over the last quarter, the majority in the city’s most expensive neighbourhoods. Kensington High Street in west London recorded the biggest fall between the first quarter of 2015 and the same period in 2016, dropping to an average of £1.8m. In nearby Notting Hill, average prices were down by 10%, at £1.5m. Other prime postcodes which have seen falls include Hampstead, where prices are down by 9.2% at just over £1m, and South Kensington where they have fallen by 5.8% to £1.9m. Continue reading…

Source : theguardian.com
Read more…House prices fall in London’s luxury postcodes

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