In a new article for Barclays this week, Black Brick Founder Camilla Dell shares why she believes that the domestic property market will see huge price reductions in the next few months.
“If you take Fulham as an example, and I really like the area, in the last financial crisis it was Fulham and areas like that which took the biggest price hits,” she argued.
“It’s a very domestic market, with most people who buy taking on debt. All the properties and streets look broadly the same, with properties priced between £1.5 million and £3 million. But we think it’s these markets that are vulnerable to rising mortgage rates – with people not buying, and people needing to sell and lowering their prices in order to sell.”
Read more in the full article here.
