London Zone 1 property prices fall 10% since Brexit

[Mark Rocks]

Since Brexit, property prices in Zone 1 London have gone down 10% - all while the rest of the country has seen them rise in that same period. 

According to new research from This Is Money, prices for properties in Zone 1 (which includes Kensignton, Southwark and Westminster) have dropped by almost £150,000 since June 2016. 

Rob D spoke with This Is Money to share his feelings on why this may be the case, saying that he believes it is part of a historical pattern that often sees London and the South East record the fastest growth at the start of an economic cycle before easing off. 

What do you think, do you think this means that areas outside of Zone 1 will soon see their prices cooling off? Or is this nothing to be too concerned about? 

https://www.thisismoney.co.uk/money/mortgageshome/article-10950423/How-London-property-asking-prices-struggled-Brexit.html

[EvolutionBlogger]

Zone 1 in London is a law to itself. Most of the property is purchased by (extremely) wealthy foreigners - who think nothing about spending £15million on a house. Since 2008, the UK has offered golden visas. If you have enough money, then the UK Government will give you a visa 

The house prices in zone 1 don't seem to follow any conventional rules
 

[smithlettings_outlook_com]

Interesting. We are seeing lots of interest in rental properties in Maidstone from people “down from London” (DFLs!) who are relocating for more space, and don’t mind a longer commute as they can now work flexibly and Maidstone is only an hour from London