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Article: Prices are tumbling, but high-end London and country properties buckthe trend Rich get richer as top homes beat slowdown.
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- June 5, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SEBASTIAN O'KELLY
Life is just so unfair. While everyone else is suffering from a static or falling property market - and the buy-to-let bonanza has gone phut, according to the Royal Institution of Chartered Surveyors - wealthy homeowners are doing reasonably well, thank you. In May, property prices fell for the 11th consecutive month, according to Hometrack, with the average home down from [pounds sterling]167,000 in June last year to [pounds sterling]161,900, or 2.3 per cent.
Meanwhile, high-end London and country properties are seeing quite strong demand and may be poised to rise. 'It is naive to believe in a single UK residential property ...