London Property ‘Less Frothy’ as Asking Prices Fall: Economy – Bloomberg 12-17-12

Salient to Investors:

Rightmove said:

  • London home sellers cut asking prices by the most for a December in five years due to an influx of supply and seasonal factors, but prices are up 6.8 percent from a year ago.
  • Average prices in England and Wales fell by the most since January 2002 but are up 1.4 percent from a year ago.
  • Competition among lenders will help lift UK house prices by 2 percent in 2013.
  • The London bubble will continue to inflate, albeit more slowly.
  • New UK property listings in 2013 will be at the 1.2 million level seen in each of the last 3 years.

The Building Societies Association said UK borrowers are finding it easier to get a mortgage than at any time since it started measuring in 2008.

Read the full article at http://www.bloomberg.com/news/2012-12-17/london-property-looking-less-frothy-as-december-prices-plunge.html.

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