BLOOMBERG, UK REAL ESTATE: THE CRISIS OF LUXURY
The average price of housing the most prestigious areas of London recorded the most significant decline since 2009. The semi-annual reports Bloomberg citing data of the real estate brokerage company Knight Frank LLP. During the reporting period (September 2015-February 2016), the market values measured in the 15 richest districts of the capital have fallen by 0.6%. In calculating on an annual basis the average price observed in the Knightsbridge sold 7%, compared to less than 3.3% of South Kensington and Chelsea less than 2%.
The general data, Bloomberg points out, can be read as a signal of a broader set of phenomena that characterize the current economic and financial scenario. The drop in demand at the base of the lower prices, in fact, would arise from the combination of rising taxes on financial activities (stamp duty) and the growth of market volatility. A negatively affect investor sentiment, particularly emphasizes the relationship of Knight Frank, the perception of danger would be powered by the performance of their bags with a negative trend, situation reported since the beginning of 2016, it is seen as a symptom of the ineffectiveness of monetary policies of central banks.