drbubb Posted October 6, 2010 Report Share Posted October 6, 2010 The average value of a Prime London property fell by 2.4% in September to £1,106,833 compared to August. Read more: http://www.primelocation.com/house-price-i.../#ixzz11cpXDcbF Prices at the top end tail off Following the first dip in asking prices for Prime and Prime Platinum prices for several months during August, prices have continued to fall throughout September. The UK’s Prime property prices fell by 0.7% to £453,879, while Prime Platinum UK properties fell by 0.6% to £634,622. It is not uncommon for the property market to go into a lull over the summer months as would-be buyers take holidays which can, in turn, lead sellers to reduce prices. However, of potentially greater significance is that Prime prices in September are 1.5% lower when compared to the same month in September 2009. On an annual basis, Prime Platinum properties continue to stand firm, increasing by 0.4% between September 2009 and September 2010. Stock growth slows after recent selling frenzy Stock availability in the Prime and Prime Platinum segments tailed off in September. Stock had grown by at least 6% a month for the previous four months in both tiers but slowed to just 0.6% in September. The amount of new stock coming onto the market traditionally declined in the last few months of the year with many people having one eye on the dreaded Christmas move but renewed fears of a double dip recession and the reports of falling house prices could be playing their part and exaggerating this trend. There are still plenty of quality properties on the market to choose from at both the Prime and Prime Platinum level but the recent surge in new stock coming onto the market seems to be over and we would expect stock levels to remain fairly static for the last quarter of this year. Borough-by-borough: http://www.primelocation.com/house-price-i.../#ixzz11cpXDcbF Link to comment Share on other sites More sharing options...
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