Adrian Black delivers critical property market insights and the influences, behaviour and money driving them.
Average sold prices have been dropping in our London areas since peaking in July (see the graphic below, the data is correct up to the first two weeks of October). The recent stamp duty changes will cause further price falls as it has essentially increased the cost of buying property in our areas.
Average sold prices can be substantially effected by the mix of property sold - a very highly priced sale will increase the average for example.
Sold price trends will be affected by the category of property sold, as we have highlighted several times. For detailed information use www.youeye.co.uk.
Also as this will be the last Thursday blog before Christmas - a very merry Christmas to all and best wishes for a happy, healthy and prosperous 2015.