Flat out: the property squeeze crushing the young
Last month, a new account called London Price Drop appeared on X. It has already gained more than 14,000 followers simply by posting screenshots from Rightmove, which illustrate how properties in the capital are falling sharply in value. One of these is a leasehold flat in Shepherd’s Bush purchased for £425,000 in 2017, before being re-listed for £395,000 in May 2024, and eventually sold for £325,000 last August. Adjusted for inflation, that represents a real terms loss of close to £250,000. The London Price Drop account is so popular because it contradicts an assumption that many in Britain hold dear. Young or old, owner or renter, almost all of us
