The housing crash in 2009 had a devastating effect on the economy of the city of London. This was a whole economic crisis and therefore, a housing crisis. As Nick Millican is quick to point out, the crash also had a rippling effect throughout the rest of the U.K.
It was a nasty plunge that most people hope will not be repeated. As it occurred, it also revealed a silver lining within the property market that was many years in the making. Nick Millican has been happy to point to this fact as confirmation that even the worst events do tend to reveal some greater good.
In this case, it has eventually revealed the precise number of London boroughs where house prices have risen fastest. According to the investment manager Nick Millican, this is welcome news for people who have been sitting on these homes for well over a decade.
As Nick Millican and many of his peers have pointed out, the discovery is due to the presence of a species of analysis. This collection of data has been specially engineered in order to show the level to which property values rose. The frame of time in question concerns the boom period following the global financial crisis.
This is data that should not be taken as gospel. However, Nick Millican has been quick to confirm that it can be the starting point for a new set of goals. Areas such as Waltham Forest and others have rebounded when it comes to home prices. This is good news for sellers who are ready to put their homes on the market in the coming months.