Are we headed for a London crash or just a slump?

[Emc]

I've noticed prices around where I live in south east London are dropping. I had a quote for my flat five month ago and prices since then (just by my observations) are now maybe £30,000 lower or more, plus nothing is moving. Two flats have just dropped the asking by £25,000 in the last couple of days. I'm curious why none of this is being reported in the media.
So my question is - do you think we are headed for a London / UK crash (as a French bank recently predicted of 30% to 50%) or are we just in a post-Brexit slump and prices will recover once the shock has worn off?
In either case, how long do you think it will last for and are we better off getting out now before prices dive?

 

[Longterminvestor]

Personally I think that London property prices are softening because the froth often associated with London real estate is evaporating. This does not mean we are in for a crash or a slump but maybe a short-term period of consolidation. Do not forget that the reduction in sterling exchange rates over the last few months make London and the UK more popular to overseas investors.

 

[lookinginvest]

If you look back at the history of the London real estate market you will see similar situations to the environment and the headlines we see today. London, so long as it remains a leading financial centre, will always attract significant real estate investment. This slow deflating of what many believed to be an overvalued market will not go on forever. Watch the buyers move en masse when they see value!

 

[realdeals]

The UK financial markets are central to the success of the London property market. The UK government will need to negotiate a central role for the London financial markets even after the UK leaves the European Union.