London Price Cuts

The big headline of the week has been that Park House in South Kensington has just taken a £65m price cut - and ‘only’ sold for £40m. Shock horror market in meltdown!

Er...no. This means that the house (owned at one time by Mark Birley, the founder of Annabel’s) sold for around £4000 per sq ft - not exactly a snip. It also means that the original asking price was er....ridiculous.

But then that doesn’t make such a good headline.....