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Property price rise and falls
Everyone knows that property prices are said to be either on the way down or at best not increasing. Forecasters are announcing figures that are clearly within a very wide price range from increasing by a further 4% to decreasing by as much as 10% and everything in between.
New build flats in over saturated areas will see price falls and period flats in areas where they are few and far between will see a price rise. City of London estate agents have already seen a drop in price per square foot, whilst areas such as Kensington and Chelsea have seen price rises during the last quarter. EC1 and EC2 central London postcodes were the worst performing areas in the last quarter with prices falling by 4.1% and 5.6% respectively. Central London has held on to its high prices with an average growth of 5.9% in the past quarter.
The West Midlands saw their prices slip by 2.4% making it the worst performing area. According to Rightmove, the south east, south west, north west and Yorkshire and Humberside saw drops of between 1.6% and 2%.
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