Monday, Feb 15, 2016

16 years of supply hitting the market all at once, at prices nobody left standing can afford

The Evening Standard: Truth behind ‘sold’ signs as foreign buyers go cold on luxury London homes

So how will this market be cleared?
"LonRes, the data analysis firm, reckons 54,000 homes are planned or under construction in the smartest areas of the capital, with most of them priced at £1 million or more. This is even though only 3900 homes were sold at more than £1 million in the whole of 2014 in these districts."

Posted by sneaker @ 01:16 PM (3389 views) Add Comment

6 Comments

1. icarus said...

"So how will this market be cleared".

Ask libertas. He'll know

Monday, February 15, 2016 04:59PM Report Comment
 

2. mister ed said...

Libbo has already outlined exactly how these properties will be sold.

In a previous thread he said that now the foreign money is drying up, these expensive homes will be sold to native Brits who are desperate to get on the housing ladder.

Seems a good theory to me.

In fact, I was chatting to a young girl who works in my local Costa Coffee. She already has an eye on a penthouse in the Battersea Power Station development, and plans on branching out into a bit of BTL by buying another once she's taken her capital gains.

Monday, February 15, 2016 06:24PM Report Comment
 

3. sneaker said...

At what prices though?

Tuesday, February 16, 2016 06:44AM Report Comment
 

4. mark said...

who remembers the 1980's crash ?

from memory I'm sure it started just as Jaguar brought out its new supercar

Tuesday, February 16, 2016 01:22PM Report Comment
 

5. libertas said...

Whilst flats may fall in value they have not been building three bed houses with gardens in London for a couple of decades now. Though I can see some houses previously sub-divided into flats becoming houses again as part of this process and the next housing trend.

Saturday, February 20, 2016 11:42PM Report Comment
 

6. tenyearstogetmymoneyback said...

mark said..."who remembers the 1980's crash ?"

Certainly remember the early 1990's one.

Some guys from work, working on a project in London rented a flat in Canary Wharf.
They commented on how cheap the rent was; probably due to the fact that most of them
were empty.

Personally my user name refers to 1989 - 99

Sunday, February 21, 2016 08:49AM Report Comment
 

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