Wednesday, April 16, 2008

London House Prices Down 15%

Anything can be done with statistics but it's a shocker of a headline.

The manager of one of the UK's largest estate agents has issued a gloomy projection for the future of London's housing market.

Mark Anderson
of Hamptons said that he perceives that prices in the capital have already slumped by 15 per cent, having hit "unsustainable levels" at its peak during last summer.

Mr Anderson said the falls had not shown up in housing market indices yet because these tend to be based on mortgage approvals rather than completions.

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