Thea Wellband, Senior Buying Consultant at The Buying Solution, speaks to the Financial Times about price reductions in North London’s, Angel.
Best known for its light blue squares and affordability, “The Angel” on the Monopoly board game is named after a former pub rather than an actual street in the area. Today, despite being very trendy and smart as well as close to the City and London’s ‘silicon roundabout’, Angel is seeing a drop in transactions of more than 40 per cent since 2015. Even though the average second-hand sale price in the 12 months to April 2018 is 36.1 per cent higher than the Islington borough average, the buy-to let-market has halved bringing the overall transaction levels down. There were 178 sales in the 12 months to March 2018 — a 43.7 per cent drop on the same period to March 2015. Thea Wellband has already spotted the price reductions, noting that half of the homes in the area have discounts, the most common being 10 per cent.
Read the full article here: https://www.ft.com/content/25aa29d4-8ffe-11e8-9609-3d3b945e78cf