House price fall after common sense 'stretched too far'

House price fall after common sense 'stretched too far'

House price fall after common sense 'stretched too far'

First published in News Surrey Comet: Photograph of the Author by , Senior reporter

Househunters in the borough face a slightly less daunting market this month thanks to a small drop in prices.

An average house costs £820,449, down 3.7 percent from May, according to property website Rightmove.

However, Kingston's housing market is still up nearly a quarter from this time last year.

Miles Shipside, from Rightmove, said a "tail-off in pent-up buyer demand" contributed to the drop.

He added: "While the legacy of rises in central London continues to ripple out to its better-value commuter-belt, fuelling price increases in all southern regions, London itself is now marking time.

"It’s an example to the rest of the country of what happens when affordability and common sense get stretched too far.”

Comments (1)

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5:53pm Sun 22 Jun 14

DB says...

If the price of an average house in a zone 6 suburb like Kingston is really over £800k, then I'd say that affordability and common sense left the market a very long time ago.
If the price of an average house in a zone 6 suburb like Kingston is really over £800k, then I'd say that affordability and common sense left the market a very long time ago. DB
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