London House Prices Are Falling – Time to Buckle Up

– London house prices fall in September: first time in eight years
– High-end London property fell by 3.2% in year
– House sales down by over a very large one-third
– Global Real Estate Bubble Index – see table
– Brexit, rising inflation and political uncertainty causing many buyers to back away from market
– U. K. housing stock worth record 6.8 trillion, almost 1.5 times value of LSE and more than the value of all the gold in world
– Homeowners and property investors should diversify and invest in gold
Editor Mark O’Byrne
In what might be a sign of things to come, London house prices have fallen for the first time in eight years.
London house sales have fallen by a third as years of frenzied bidding come to a shuddering halt.
The capital remains expensive. Housing still costs 10 times the average salary and only 50% of Londoners own their own homes, the EU average is 70%.
Currently the rest of the UK appears to be benefiting from the lack of affordability and stock in London. Buyers are moving further out of the capital in order to secure their footing on the housing ‘ladder’… no snakes here …

This post was published at Gold Core on October 10, 2017.