Sunday, May 30, 2010
London BS back due to panic more like
Observer: London HPI back due to shortages
"London house prices have averaged 10% compound growth since the second world war as a result of the constant housing shortage. "With even more dramatically falling housing supply, despite a short-term lull in the market, we're going to go back to that trend of over 10% growth," says Pane." Flats in Stoke Newington to hit £12M next year.....
Posted by chrisch @ 09:59 PM (1340 views) Add Comment
7 Comments
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1. Inkpot said...
That's weird as I just looked on Rightmove at my old area: SE5 in London, properties added in the last 14 days... above 400,000 only one is under offer. Doesn't look like a rising market to me. These people are lying.
2. vinrouge said...
Who would want to live in Stoke Newington, even if they were giving houses away?
3. gone-to-colombia said...
The white noise in the debate.
For every bearish article balance demands a bullish one.
This is like the conflicting evidence in a battle.
Where one division advances a platoon retreats in another place.
Local London gains mask the total picture, which is heading only one way, and those temporary gains will follow.
4. Jpjh said...
Odd how people think the house builders can survive without building houses....lol
The house builders need income just like everyone else. None of them have huge cash reserves to ride out a bad patch, in fact most have a lot of debt on the books given how stupidly greedy they have been.
They will build what people want to buy, and they will find land to build it on. They always have and always will.
5. Einsteins_dog said...
'Averaged 10% compound growth' - if this means 10% growth annually, in the 65 years since WW2 this would be 1.1^65 = 490 times increase, i.e. 49,000% !!! I smell a rat somewhere.
6. icarus said...
10% compound interest. So a £1,000 house in 1945 is now worth £500,000 assuming maintenance but no improvements.
7. sibley's b'stard child said...
Test
