London house prices rocket 10% in just one month

[Martin@AS Financial]

House prices in London have jumped by 10 per cent in the last month alone, according to data from Rightmove.

The data shows prices in the capital have risen by £50,484, on average, to £544,232 since mid-September.

The competition for London property right now is unbelievable and I hope unsubstainable. Yesterday my client was gazumped within 45 minutes of having her offer accepted.



London house prices rocket 10% in just one month | News | Mortgage Strategy

[Old Greg]

Asking prices in London have jumped by 10 per cent in the last month alone, according to data from Rightmove.

The data shows prices in the capital have risen by £50,484, on average, to £544,232 since mid-September.

The competition for London property right now is unbelievable and I hope unsubstainable. Yesterday my client was gazumped within 45 minutes of having her offer accepted.



London house prices rocket 10% in just one month | News | Mortgage Strategy

FTFY, Martin.

[amcdonald]

Even outside the M25, we've got house prices rising faster than we could save

It's scary, it must be horrible for those in their twenties

[administrator]

2007 called, they want their bubble back.

[Martin@AS Financial]

FTFY, Martin.

Haha - thank you.

[Old Greg]

Haha - thank you.

Important to get these little details right, or you might cause a stampede into the mortgage broker.

[Martin@AS Financial]

Important to get these little details right, or you might cause a stampede into the mortgage broker.

lol - This is true.

In 10 years of being a Mortgage Adviser, I can honestly say it is now busier than 2007 which when you think about it, is strange. Finance is still not overly easy to secure like it was back then and there are mayber half of the banks in existance that still offer mortgages.

[RedSauce]

It has now got to the stage where the housing market isn't governed by supply and demand, prices are determined by accessibility to finance. Being in my 20's (albeit late) it is a very depressing situation but can't help but feel that if I bought now I would end up regretting it.

[Freaki Li Cuatre]

lol - This is true.

In 10 years of being a Mortgage Adviser, I can honestly say it is now busier than 2007 which when you think about it, is strange. Finance is still not overly easy to secure like it was back then and there are mayber half of the banks in existance that still offer mortgages.

Foreign investment & help to buy driving up prices and sparking the inevitable panic from people who don't want to get left behind.

It's not good, it really isn't.

[russell]

The correction will be brutal to those with high leverage, it will not doubt come at the same time as interest rates increase which results in a uppercut then right hook for the London home owner.