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House Price Crash Forum

Tony Cheeseburger

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About Tony Cheeseburger

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    HPC Newbie
  1. Tony Cheeseburger

    Is Prime London Crashing? - Merged Threads

    The tenure figures, both in London and nationally, are remarkable. They seem to be falling at circa 1.5% per annum since the GFC. The average cohort in the 25-35 year old range is about 1.6% of the adult population. If you think of it as birth and death rates, with one set of owner occupiers dying out and a younger cohort replacing them, we're well past the stage of talking about replacement birth rates. The birth rate is practically zero! Virtually no new owner occupiers appear to be turning up for the gig.
  2. Tony Cheeseburger

    Is Prime London Crashing? - Merged Threads

    I wonder how many of the transactions at the high end in London are people 'doing a Sol Campbell' and taking a property out of its envelope and selling to themselves? There are a number of advantages of doing this - avoiding ATED, making your property more sellable, getting your house in order if you want to run for London mayor.... Presumably this would have the effect of recorded transactions being higher than their real level and see some fairly unfussy prices being stamped in the land registry at the top end. It's hard to measure this without specific knowledge of the property in question, as you never know who controlled the envelope just looking at the land registry, but I've seen quite a few that look suspiciously similar.
  3. Tony Cheeseburger

    Do Banks Not Want Savers Anymore?

    Looks like the banks are happy to erode their deposit base as they can rely on the cheaper (this week) wholesale markets. It's a good job uninterupted cheap money is constantly on tap, or we could be looking at the first bank run in this country since 1866.
  4. Tony Cheeseburger

    Why Do Landlords Do This?

    'Just buying' at this end of the market isn't the no-brainer it would for someone in Middle England looking at a three-bed semi. The maths are completely different. You'd have to stump up 40 or 50 times your yearly rent, pay two or three years rent in transaction costs (stamp duty etc) and then sit back and pray that either a mansion tax isn't brought in after the election or you fall short of the threshold. It's not inconceivable that half your equity, above a certain level at least, could be wiped out at the stroke of a pen (a 1% levy on a property that yields 2%). Only really suitable for those who are really certain they want to stay there a long time and/or really hate letting agents. If a HPC comes along in the near future I suspect it will come from the top down.
  5. Tony Cheeseburger

    Land Registry June 2013

    Can anyone explain how Greater London as a whole shows a 3.1% monthly increase, yet every individual London Borough's increase is less than this? I was under the impression that Land Registry was like-for-like, so presumably a disproportionate number of sales of expensive properties wouldn't explain it.
  6. Tony Cheeseburger

    Common Law Tennancy

    I'm looking to rent a new place and will probably be going through the 25k a year barrier for the first time. What are the main differences between common law tennancies and ASTs from a tennant's point of view? Also, what should I look out for in any contract? Thanks in advance.
  7. Tony Cheeseburger

    National Motto For The Uk?

    Buy Now Pay Later
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