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Hefty
Using the property bee app on Mozilla, about half a dozen of the listings I have been keeping an eye on have been amended in the last couple of days, mostly showing a 5-7% decrease. Negative sentiment is beginning to take hold.
That said, I don't think we are going to end up with a sustained 30% decline in prices, like 1998. Low interest rates will halt any real creative destruction in London for the time being. That said, if we go to parity against the Euro and $1.15 as predicted by Deutsche Bank, input inflation could cause a rout and begin a pressure cooker enviornment for a couple of years.
Despite all the gloom, I am hoping to exchange next week having gotten a 10% discount from list. Hopefully someone will insure my mortgage or else it's going to be a very nervy 24 months......