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House prices in London’s wealthiest boroughs suffer double-digit declineWestminster and Kensington and Chelsea property valuations sink close to 2013 levelsKensington and Chelsea, one of London’s wealthiest neighbourhoods, registered an annual fall of 11.2% in February © Matthew Lloyd/BloombergHouse prices in some of the most expensive London boroughs fell at double-digit rates in February for the fifth consecutive month, driving the largest price decline in inner London since the global financial crisis.The average house price in Westminster was down by an annual rate of 12.7 per cent in February, marking consecutive declines since October 2025, according to data from the Office for National Statistics and the Land Registry.There was a similar trend in Kensington and Chelsea, one of London’s wealthiest neighbourhoods, which registered an annual fall of 11.2 per cent in February.The slump means average prices for Westminster have sunk to £872,000 and £1,225,000 for Kensington and Chelsea, similar to their 2013 levels. Prices in the City of London also registered a double-digit fall of 11.2 per cent.These declines drove prices in inner London down 5.6 per cent in February, a larger contraction than the 4.7 per cent registered in January and the biggest since the financial crisis in 2009.Tom Bill, head of UK residential research at Knight Frank, said: “The tougher tax landscape, which includes fewer incentives for wealthy overseas investors and higher rates of stamp duty, means buyers have been more hesitant over the last decade.”The figures predate the war in the Middle East, which has since pushed up inflation and expectations of higher interest rates. As a result, mortgage rates have increased.“The Middle East conflict is just the latest in a series of events to hit demand in the central London market,” Bill said, pointing to the weaker sentiment that comes with geopolitical instability.The latest data shows London house prices fell by an annual rate of 3.3 per cent in February to £542,304, the largest drop since January 2024.The decline in the capital contrasts sharply with the rest of the UK, with average house prices rising 1.2 per cent to £268,000, up from 1 per cent in January.In Yorkshire and the Humber, house prices rose 3.9 per cent and 3.6 per cent in the North East of England. They also increased 2.3 per cent in Scotland and 2.5 per cent in Wales. “London stands out as the clear underperformer in the February data,” said Ian Futcher, financial planner at Quilter, a wealth management company. “Part of that reflects affordability pressures in a higher‑priced market, but the composition of property types also plays a part.”London has a larger proportion of flats, which typically underperform other types of properties because they tend to be bought by first‑time buyers and investors.This makes them especially sensitive to higher mortgage rates, rising service charges and weaker buy‑to‑let demand, according to analysts.Flat prices fell at an annual rate of 2.6 per cent across the UK and 6.1 per cent in London, according to official data. UK semi-detached properties performed better with a 2.9 per cent rise.Separate official data also shows that London had a smaller population growth than all other regions between 2019 and 2024, at only 2.2 per cent, reflecting a shift in preferences after the pandemic and changes in migration flows.The capital also has the highest unemployment rate in the UK at 7.4 per cent, according to new figures published on Tuesday.
Pentagon: It would take 6 months to clear mines in HormuzThe United States Department of Defense notified the US Congress that clearing the Strait of Hormuz of Iranian mines could take up to six months, the Washington Post reported on Wednesday, citing officials familiar with the discussion.According to the report, a senior Pentagon official shared the timeline with the members of the House Armed Services Committee during a classified briefing yesterday, with the time frame reportedly causing concerns among both Democratic and Republican representatives about the gas and oil prices remaining high even after a potential peace deal between the US and Iran is reached. The report added that the operation would only be carried out after the war ends.The Congress was also reportedly told that Iran placed over 20 mines in the Strait of Hormuz and the surrounding area, with some of them being laid using small boats, and others floated remotely using GPS.
¿Peak compradores a PVP actuales?https://www.eleconomista.es/vivienda-inmobiliario/noticias/13880908/04/26/la-construccion-pincha-la-vivienda-terminada-se-desploma-por-nueve-meses-consecutivos-mientras-los-precios-estan-en-maximos-historicos.htmlCitarVivienda - InmobiliarioLa construcción 'pincha': la vivienda terminada se desploma por nueve meses consecutivos mientras los precios están en máximos históricos- Los certificados de final de obra descienden un 10,6% en el tercer trimestre - Este ajuste se produce en plena crisis de la oferta y en un escenario de 'boom' de precios- El esfuerzo para comprar casa está en 7,8 años de renta bruta, una de las cifras más altasEstá en abierto y tiene gráficos, así que no me molesto en copiarla.
Vivienda - InmobiliarioLa construcción 'pincha': la vivienda terminada se desploma por nueve meses consecutivos mientras los precios están en máximos históricos- Los certificados de final de obra descienden un 10,6% en el tercer trimestre - Este ajuste se produce en plena crisis de la oferta y en un escenario de 'boom' de precios- El esfuerzo para comprar casa está en 7,8 años de renta bruta, una de las cifras más altas