As London prices continue to fall the total figures released for 2018 looks a hefty sum for any thick skinned investor to take on the chin as £26.2 billion was wiped off the capitals real estate value. It is the first decline seen since 2009.
Many will surely agree that property has been on some kind of spiral upwards for many years, a bullish market that many investors and home owners have been enjoying though it seems the sky high peaks have certainly been reached and inspections of the foundations that are in place are coming back with with worrying news.
As departure from the EU looms, and the Prime Minister is still rolling a Brexit dice in hope to land a 7, fear amongst many is that having money invested in overvalued stock many not be such a wise move,
Billions of pounds worth of value being wiped off London property is of course a somewhat drop in the ocean, nonetheless it still shows caution is in the air – The value of UK property is quoted at being over £7 Trillion and a quarter of that value is in London.
Full report can be read on Daily Mirror website that includes national property values across the UK:
East of England, £810.5 billion
South West, £670.4 billion
North West, £529.3 billion
West Midlands, £468.2 billion
Scotland, £400.7 billion, 5.3%
East Midlands, £389.3 billion, 6.2%
Yorkshire and the Humber, £382.0 billion
Wales, £226.1 billion
North East, £152.7 billion
Northern Ireland, £100.7 billion
Author: Estate Agent Networking UK
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