House prices in Britain’s most expensive second-home hotspots have been hit by the expected slump in City bonus money this winter, new research out today reveals. The Times
Prices of homes in Sandbanks, Dorset, where homes on the exclusive strip of waterfront in Poole can sell for several million pounds, have fallen by up to 10% since the summer, wiping out nearly all the gains made in the first half of the year.
The sharp decline in the South Coast’s most sought-after area for residential property is in large part due to what Savills, expects will be a 60% fall in annual bonus money going into housing this year, down from £5.5bn last time to £2bn over the coming six months.