Is Prime London Crashing? - Merged Threads

[Thorn]

1 hour ago, Sancho Panza said:

Great news.

Hope they have to pay £600 in fees to go grovelling for a sh1tty insecure tenancy in a mould ridden flat and finally get to feel what it's like for many people out there.

I have to do that. I would not wish it on anybody else.

[TheCountOfNowhere]

21 minutes ago, tomandlu said:

For the location, I suppose a rent of £1840 a month isn't too bad, but £540 would be a bargain...

£540 would be sensible and allow money to flowing into the real economy and savings.

The UK has become a lunatic asylum.

[Guest]

1 hour ago, TheCountOfNowhere said:

£540 would be sensible and allow money to flowing into the real economy and savings.

The UK has become a lunatic asylum.

Us HPC lot were long considered lunatics... Now we're taking over the asylum!

[TheCountOfNowhere]

1 hour ago, Grab_Some_Popcorn said:

Us HPC lot were long considered lunatics... 

Speak for yourself, I've always been a nutter, you lunatics are mental.

[TheCountOfNowhere]

2 bed mews house...SE London...£1.3M

 

http://www.rightmove.co.uk/commercial-property-for-sale/property-69243989.html

 

 

Round the corner, 5 bed house, £1M  ( down from 1.1 and sale fallen through ).

 

http://www.rightmove.co.uk/property-for-sale/property-47991453.html

 

Someone's in for a shock.

 

[hurricane]

2 hours ago, TheCountOfNowhere said:

2 bed mews house...SE London...£1.3M

 

http://www.rightmove.co.uk/commercial-property-for-sale/property-69243989.html

 

 

Round the corner, 5 bed house, £1M  ( down from 1.1 and sale fallen through ).

 

http://www.rightmove.co.uk/property-for-sale/property-47991453.html

 

Someone's in for a shock.

 

Not really. The first one is 2800 sq ft (versus 1600).

[dugsbody]

8 hours ago, This time said:

BTL type properties are down about 10% over the last year in the Wimbledon area which is zone 3/4.

Examples? I keep an eye on a bunch of area in South and South West London and my anecdotal view is that a handful of areas are still going up while most seem to have just stopped some time ago. I'm still waiting for decent drops though.

[the_duke_of_hazzard]

3 hours ago, TheCountOfNowhere said:

2 bed mews house...SE London...£1.3M

 

http://www.rightmove.co.uk/commercial-property-for-sale/property-69243989.html

 

 

Round the corner, 5 bed house, £1M  ( down from 1.1 and sale fallen through ).

 

http://www.rightmove.co.uk/property-for-sale/property-47991453.html

 

Someone's in for a shock.

 

Me.  1m for 1600 sq feet in brockley? Jesus wept.

[Untoward]

7 hours ago, 999house said:

Lease expires:

May 2048

Ground rent:

£8400 per annum (2017)

Service charge:

£5577.12 per annum (2017)

Stamp Duty

£24,250

Council tax:

£1,600 per year (Band G)

Jesus wept! To live there.

15.577K per year in charges.

[hp72]

8 hours ago, TheCountOfNowhere said:

Speak for yourself, I've always been a nutter, you lunatics are mental.

There's a large difference between madness and stupidity, and the HPI'ers should take a long look in a mirror to determine applicability.

[Crashchris]

20 hours ago, Grab_Some_Popcorn said:

So is that advert for the flat he has just bought?!

Regardless... You might want to show him the graphs in today's RICS report... Crashy crashy.

Yes it is. Oh believe me I've tried to explain it all but I'm just negative and don't know what I'm talking about. People who live in the area are so desperate to cling to rising prices they have convinced him to buy as that must mean their place is worth more. They even accept that some prices are reducing but not in that area, it is different!!! I mean who needs facts?! I tried so won't feel guilty when the £0.5m mortgage is too much to handle! 

Thanks to all on this site, I've learned so much about the world economy and banking, I've had my eyes opened! I was convinced of a huge crash coming in 2006, completely astonished to see where we are today. I get so many calls and emails now from estate agents from when I was looking to move last year, I am actually surprised the developments have not sold already, perhaps help to buy today is not helping as much as people think.

 

[LondonBooming]

19 hours ago, TheCountOfNowhere said:

Worth 100/200K.

Lease expires May 2048 ;/

[winkie]

 

[TheCountOfNowhere]

12 hours ago, the_duke_of_hazzard said:

Me.  1m for 1600 sq feet in brockley? Jesus wept.

 

 

The "mews" house has 1 room and 2336 sq feet...i.e. the hole house is 1 room  

 

Did it used to be a garage ?

[TheCountOfNowhere]

On the subject of stupidity

This always makes me laugh.

https://en.wikipedia.org/wiki/Dunning–Kruger_effect

Could be renamed, the BTL landlord effect

 

[Slimline]

13 hours ago, the_duke_of_hazzard said:

Me.  1m for 1600 sq feet in brockley? Jesus wept.

Know someone that bought a couple of 1 bed new cross flats in 09-11 (500-600sq ft each). Now sitting on a profit of probably 800k. absolutely ludicrous.

[TheCountOfNowhere]

4 minutes ago, Slimline said:

Know someone that bought a couple of 1 bed new cross flats in 09-11 (500-600sq ft each). Now sitting on a profit of probably 800k. absolutely ludicrous.

It's not a profit until it's been realized.

Till then it;s an imaginary paper profit that can evaporate over night.

If any investment has landed you £800K, you should sell and get the **** out.

Edited October 13, 2017 by TheCountOfNowhere

[Democorruptcy]

1 hour ago, TheCountOfNowhere said:

 

 

The "mews" house has 1 room and 2336 sq feet...i.e. the hole house is 1 room  

 

Did it used to be a garage ?

Picture 5... is that the thing from 2001 A Space Odyssey?

[Shy Ted]

Evening Standard leader column today:

Both Mayor Sadiq Khan and ministers have promised major housebuilding to help ease property prices and rents. It is time to deliver.

https://www.standard.co.uk/comment/comment/evening-standard-comment-brexit-hardliners-put-living-standards-at-risk-a3657926.html

 

[TheCountOfNowhere]

2 hours ago, Doctor SickoPants said:

Evening Standard leader column today:

Both Mayor Sadiq Khan and ministers have promised major housebuilding to help ease property prices and rents. It is time to deliver.

https://www.standard.co.uk/comment/comment/evening-standard-comment-brexit-hardliners-put-living-standards-at-risk-a3657926.html

 

Promised.....again.

 

Any mention on ending then reversing the immigration the regulating the banks?

 

Thot not. They're ###### lying imho

[MARTINX9]

18 hours ago, Doctor SickoPants said:

Evening Standard leader column today:

Both Mayor Sadiq Khan and ministers have promised major housebuilding to help ease property prices and rents. It is time to deliver.

https://www.standard.co.uk/comment/comment/evening-standard-comment-brexit-hardliners-put-living-standards-at-risk-a3657926.html

 

Backed by £10bn help to buy to bump up the prices.

The population of London is going up by 150,000 a year - at least the legal figure - and many of those will be reliant on tax credits and housing benefit to live there. So building 30000 homes won't solve the problem - you need 75000 a year to stand still.

Perhaps the biggest reason of course for London's housing crisis is that there are 2.5 million more people living there than 20 years ago - no city can build homes that quickly for 25 per cent population growth. Yet no link between the two opinion pieces - how about instead of more houses we invite in fewer people or at least restrict immigration to people who will be net contributors.

Edited October 14, 2017 by MARTINX9

[maverick73]

On 13/10/2017 at 6:12 PM, Doctor SickoPants said:

Evening Standard leader column today:

Both Mayor Sadiq Khan and ministers have promised major housebuilding to help ease property prices and rents. It is time to deliver.

https://www.standard.co.uk/comment/comment/evening-standard-comment-brexit-hardliners-put-living-standards-at-risk-a3657926.html

 

Did they sign their names and pledge alligence to what they say... ?

[felix]

https://www.bloomberg.com/news/articles/2017-10-15/london-house-prices-fall-at-fastest-pace-since-financial-crisis

It almost looked like as if it was never going to happen LOL

[ubuntu]

On 10/4/2017 at 7:44 PM, Tapori said:

I'd follow the Nawaz Sharif trial in Pakistan. Ex-PM disqualified recently by a emboldened judiciary after a corruption investigation based on the Panama Papers linking his children to ownership of ill-gotten Mayfair flats for which he could not show proof of income. The resulting report investigation requested info on Sharif and the UK gov responded. This response has not been revealed. The report cited numerous companies and dealings here in the UK. It's commonly known in the Pakistani diaspora the Pakistani elites have robbed the country blind and invested heavily here in property, buildings and much more. Documentary from Ilford to Islamabad is on youtube by the BBC highlighting the seeds of this corruption.

In India, Vihay Malhiya is being investigated too and I bet he has money here. 

update on the crooked Sharif family

Quote

LAHORE: A National Accountability Bureau (NAB) team arrived in London on Wednesday to record statements of some ‘important witnesses’ and collect evidence of the Sharif family’s Avenfield properties.

According to a NAB official, the team included members of the bureau’s combined investigation team that had prepared four corruption and money laundering references against ousted prime minister Nawaz Sharif, his sons Hassan and Hussain, daughter Maryam and son-in-law retired Capt Mohammad Safdar, and one reference against Finance Minister Ishaq Dar for having assets beyond his known sources of income.

“During its stay [in London] the team will contact the UK authorities to seek reply to its queries regarding the Sharif family’s Avenfield properties. Besides, it will reach out to some important witnesses to record their statements ahead of the indictment of the Sharif family members,” the official said.

Earlier, NAB had written letters to the UK authorities in connection with the mutual legal agreement seeking details of the Sharif family’s Avenfield flats 16, 16-A, 17, 17-A, Avenfield House, Park Lane, London.

The ‘Volume-10’ of the Supreme Court-appointed Joint Investigation Team’s report is said to have dealt with the mutual legal business agreements between the Sharif family and different foreign governments.

“The team is positive to gather evidence and witnesses related to the case,” the official said.

When contacted, the NAB spokesman refused to comment on the bureau team’s departure for London.

Advocate Amjad Pervez, a counsel for the Sharif family, told Dawn on Wednesday that the NAB team must fulfil legal requirements in this case. “We have no objection till NAB meets the legal requirement in the case here or abroad. Going to London to collect some of kind of evidence about the Sharif family’s properties and recording statements of so-called witnesses should be open to cross-examination [in the court]. It will be seen how credible testimony of the witnesses NAB is looking for [in London],” Mr Pervez said.

An accountability court in Islamabad may indict Maryam and her husband Safdar in three graft cases on Thursday (today). Nawaz Sharif will not be chargesheeted as he is in London to be with his wife Begum Kulsoom who is undergoing chemotherapy in connection with lymphoma (throat cancer).

Under the law, a suspect cannot be indicted in absentia.

National Assembly Speaker Sardar Ayaz Sadiq on Wednesday insisted that Mr Sharif would return to face accountability once the condition of his wife improved.

NAB has initiated the process of declaring Mr Sharif’s sons proclaimed offenders on the order of the accountability court. They have been given a deadline of Nov 10 to appear before the court in the graft cases, otherwise they will be declared proclaimed offenders and the process of issuing red warrants for them will begin.

The four references against the Sharif family related to their Avenfield properties (London), Azizia Steel Mills, Hill Metal Company and other companies that include Flagship Investments, Hartstone properties, Que Holdings, Quint Eaton Place 2, Quint Saloane, Quaint, Flagship Securities, Quint Gloucester Place, Quint Paddington, Flagship Developments, Alanna Services (BVI), Lankin SA (BVI), Chadron, Ansbacher, Coomber and Capital FZE, Dubai.

https://www.dawn.com/news/1364756/nab-team-in-london-to-probe-sharifs-properties

[timetolowertherents]

Sold my 3 bed Vic Terrace (92 sqm)  in a 'trendy' South London borough. Went on March for 850k - reduced to 825 after a month and then to 800 after 3 months. Had about 60 viewings in that time and one buyer who came back twice as their flat had fallen through. Very cheeky offer of 720k which was sent packing. Eventually sold for 788 after being on the market for 6 months. Bought it back in 1987 so was happy to chase the market down and downsize and cash out before the storm really hits. Have bought a nice 3 bed vic terrace on Kent/London borders (133 sqm) for 380k with a 100ft garden close to everything . Prices are crazy for sure and young folk couldn't do what I've done now.