Bloomberg Quint:
London Home Price Declines Seen Continuing for Next Three Years
23 May 2018
Bloomberg News asked six market commentators to predict what they see happening next in London’s 1.8 trillion-pound ($2.4 trillion) housing market:…
Rippling Out: Paul Cheshire, professor of economic geography at The London School of Economics and Political Science: “It’s likely prices will continue to fall, led by London, and that will spread out to the south east and, in due course, to the rest of the country. This process will likely continue over the next two years of acute Brexit uncertainty. I think it is unlikely there will be a super collapse due to the underlying shortage of housing in London and England generally. Prices and transactions will continue to fall, however, led by the top end of the market -- which hasn’t bottomed out yet -- and oozing out to the outer boroughs and further. The economy hasn’t performed well since 2007 and, with Brexit, that underperformance will continue. If things go really badly it is not outside the realms of possibility that there could be substantial falls to come, although that wouldn’t be my central prediction.”