House prices now falling twice as fast
Dear me. The little boom that we have had in London, and the rest of the country did not even get that, has now faded. No body wants to buy with house prices falling, and then all the news about economic turbulence. Especially the Greek fiasco and the news that they are holding a sudden referendum has meant that buyers are sitting upon their hands.
In a number of survey house prices were down by 0.2% last month compared to the last 5 months of decline at a rate of 0.1%. Hometrack (the valuation surveyors favourite tool) said that in England and Wales prices have fallen by 3% in the last year.
The stock market has peaked at its almost highest price in July before heading off a cliff, 1000 points down in a month. But you know this already – in July the house market slows down. But we have not seem an up term in the autumn, prices are going down for the next 6 months.
We are still buying houses for our portfolio and our investors who believe that in the long term prices will appreciate. Where do investors park their money? In a bank account? No, because inflation will eat away any gains. Stock Market? No, 75% of city types lose money (as opposed to the FTSE) and that is their full time job. Art? Wine? Stamps? No No No. Property? YES yes yes
If you want to be an investor, get in touch with us. If you want to sell a house, flat or any residential property, get in touch with us.
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