London house prices slip 0.8% last month

The drop in London prices in October is the biggest single month fall for 10 years. Unsurprising given that the trend has been up due to a widespread belief that houses only go up in value.

The daily barrage of news about looming recession, tighter lending conditions on new borrowing and reduced availability of funds to borrow, high street retailer reporting lower sales is clearly scaring the “real economy” and belt tightening is the order of the day.


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