London property panic station...

[DimPrawn]

4-6m is the new 1m. Aren't something like 10% of households asset millionaires now (inc. property, pensions etc.)?

I thought is was 90%. There's just AtW and a few million other immigrants who haven't made it to the big time.

[thunderlizard]

"A four bedroom townhouse on the site was listed in July last year for £6m, but was reduced to £4m in January – a decline of 38 per cent"

(a) I'd call that 33%. I don't know why they think it's 38% but I'm sure that is why they are property millionaires and I'm not
(b) even if it is 38%, that's back to, what, 2014 prices? They can ride that out in another couple of years.

[AtW]

(b) even if it is 38%, that's back to, what, 2014 prices? They can ride that out in another couple of years.

Yeah I am sure they keep cutting the price because they are planning to ride it out