{"id":2658,"date":"2017-04-24T07:00:02","date_gmt":"2017-04-24T06:00:02","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2658"},"modified":"2017-04-24T07:00:02","modified_gmt":"2017-04-24T06:00:02","slug":"londons-property-prices-dropped-10000-last-12-months","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/04\/24\/londons-property-prices-dropped-10000-last-12-months\/","title":{"rendered":"London\u2019s property prices dropped by \u00a310,000 over the last 12 months"},"content":{"rendered":"<p><strong>On average, London\u2019s house prices have decreased by almost \u00a310,000 since April 2016 whilst the rest of the country hits new record levels.<\/strong><\/p>\n<p>Rightmove\u2019s latest house price index showed that <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/03\/far-prices-london-fall\/\" target=\"\" rel=\"noopener\">property in the capital<\/a> is coming to the market at a price 1.5% lower than twelve months ago.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ExtccmFSHp\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/20\/london-suffers-commercial-property-growth-slows\/\">London suffers as commercial property growth slows<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;London suffers as commercial property growth slows&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/20\/london-suffers-commercial-property-growth-slows\/embed\/#?secret=mGAgF7YeIm#?secret=ExtccmFSHp\" data-secret=\"ExtccmFSHp\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Shocking at first, a closer look reveals the drop mainly happened due to a decrease of value for high-end properties in <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/16\/property-investment-england-focus-central-london\/\" target=\"\" rel=\"noopener\">inner London<\/a>. The rest of the capital showed resilience.<\/p>\n<p>Overall, the last twelve months hit houses with five bedrooms or more the hardest, with an average drop of 7.3%. For all of London, the average asking price now lies at \u00a3649,772, almost \u00a310,000 below the capital\u2019s all time high.<\/p>\n<p>The lower end and middle sector of the market proved to be more resilient. Prices for properties with a <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/09\/buy-london-first-time-buyers\/\" target=\"\" rel=\"noopener\">maximum of two bedrooms<\/a> increased by 1.3% whilst homes located in the middle of the market experiences a minor price drop of 0.7%.<\/p>\n<p>London is the only region that didn\u2019t see house prices moving up this month. Every other part of Britain recorded an increase.<\/p>\n<p>Miles Shipside, Rightmove director and housing market analyst, said: \u201cThe more discretionary upper end of the market is having to tempt buyers with cheaper asking prices, off-setting the higher purchase taxes in this sector.\u201d<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ThzopUq8ix\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/27\/manchester-squeezes-past-london-strongest-annual-house-price-growth\/\">Manchester squeezes past London with strongest annual house price growth<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Manchester squeezes past London with strongest annual house price growth&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/27\/manchester-squeezes-past-london-strongest-annual-house-price-growth\/embed\/#?secret=aSWFUL00z8#?secret=ThzopUq8ix\" data-secret=\"ThzopUq8ix\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>He added:<\/p>\n<blockquote><p>\u201cDemand continues to be strong, but at the right price for the right property.\u201d<\/p><\/blockquote>\n<p>The Rightmove index concluded by stating the snap general Election will have very little impact on the overall market. With Shipman saying:<\/p>\n<blockquote><p>\u201cAny slowdown in activity will be counterbalanced by the market\u2019s current fast pace. Indeed, in <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/12\/uk-house-prices-least-affordable-regions\/\" target=\"\" rel=\"noopener\">locations where choice of suitable property is limited<\/a> hesitation could mean losing out to others who still decide to act.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>On average, London\u2019s house prices have decreased by almost \u00a310,000 since April 2016 whilst the rest of the country hits new record levels. Rightmove\u2019s latest house price index showed that property in the capital is coming to the market at a price 1.5% lower than twelve months ago. London suffers as commercial property growth slows<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/04\/24\/londons-property-prices-dropped-10000-last-12-months\/\" title=\"ReadLondon\u2019s property prices dropped by \u00a310,000 over the last 12 months\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12],"tags":[33,11,35],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2658"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=2658"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4390"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=2658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=2658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=2658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}