https://www.theguardian.com/money/2016/jul/14/northern-england-house-prices-negative-equity-moodys-bank-of-england
As this article hints at, a drop in house prices seems to be taking affect. I also found out from two of my teacher friends who are moving cities to start new teaching jobs are feeling the reality of it. They are having to consider dropping their asking prices to get a bite. The truth is the market has been overpriced for too long and it will benefit the majority of people to see a reduction. It may be difficult for people who have to move right away but unless you are in danger of negative equity which frankly very few Londoners are, considering the massive deposits they would have put down, this is a useful reduction. We need to stop seeing property as investment and get back to what it is really about: a home to live in. It's a shame we had to use Brexit to do it.
