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House Price Crash Forum


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Everything posted by blackgoose

  1. What they fail to mention is that "Britain's wealthiest" also include all of those super rich foreigners that sometimes live in London. As time goes on, more and more oligarchs have moved to London, pushing British people out of the list of Britain's wealthiest, therefore increasing the wealth of Britain's wealthiest.
  2. So providing shelter for yourself is wasting money. I wonder if they also think that spending on food or water is wasting money.
  3. I would probably buy government bonds before the crash as the governments can just print money to pay off their debts and QE will continue. I would consider government bonds safer than cash in the bank. Then I would start planning what to buy at the low.
  4. Footballers are probably better off doing that as it stops them from frittering it away and going bankrupt after their career finishes. They are mostly too thick to understand stocks and shares and not disciplined to keep money in the bank without spending it.
  5. Its about time these foreign investors got bored with London and decided they would rather own a place in New York or LA instead. Im sure a Labour coalition with the SNP should help them see sense.
  6. Yes unfortunately it bounced almost all of the way back up https://uk.finance.yahoo.com/echarts?s=FOXT.L#symbol=FOXT.L;range=1d Still, hopefully it was some estate agent or btl panicking and selling at the low.
  7. Down 15p today back to the lows. I haven't seen any specific news to explain it though.
  8. No doubt to be snapped up by some "savvy" investor in asia. I hope the developer makes a mess of it.
  9. Well David Miliband got a charity job on $300k. As Gordon loves helping the poor and needy so much, and as an ex PM, I'm sure one of his chmpagne socialist friends can help him get a charity sinecure on at least $500k. Then he can feel good about himself as he trousers charity money.
  10. Overview Performance in Q3 2014 was negatively impacted by a sharp and recent slowing of volumes in London property sales markets following an exceptionally strong nine month period to 30 June 2014 in which volumes reached their highest levels since 2007. · Q3 Group turnover was £39.9m (2013: £41.1m). Group turnover for the nine months to 30 September 2014 was £112.7m (2013: £103.7m). · Q3 property sales commissions were £16.4m (2013: £17.8m), down 7.8%, as a reduction in sales volumes more than offset price increases. Property sales commissions for the nine months to 30 September 2014 were £54.1m (2013: £46.3m), up 16.9%. · Q3 lettings revenue of £21.9m was flat (2013: £21.9m). Lettings revenue for the nine months to 30 September 2014 was £53.7m (2013: £53.7m). · Q3 mortgage revenue of £1.6m grew by 13.8% (2013: £1.4m). Mortgage revenue for the nine months to 30 September 2014 was £4.6m (2013: £3.4m) · Q3 Adjusted EBITDA1 was £14.2m (2013: £18.0m). Adjusted EBITDA for the nine months to 30 September 2014 was up 4.9% to £39.2m (2013: £37.3m). · Q3 Adjusted EBITDA margin2 was 35.6% compared to 43.7% during the same period last year which had also been the highest quarterly margin ever achieved by the company. Adjusted EBITDA margin was 34.8% for the nine months to 30 September 2014 (2013: 36.0%). · The Group remains debt free and generated £13.9m of adjusted operating cash3 during Q3 representing an operating cash conversion rate4 of 98%. Outlook Although the longer term outlook for London property markets remains positive, the market is expected to continue to be constrained for some time due to political and economic uncertainty within the UK and Europe, tighter mortgage lending markets and mismatches between the price expectations of buyers and sellers. These external headwinds have exacerbated the rate of slowdown in sales transactions we noted at the time of our H1 results. Market volumes in Q3 have been more in line with the first half of 2013 and we now believe that market volumes in H2 2014 overall will be significantly below levels during the same period last year. Consequently, we expect full year 2014 adjusted EBITDA to be below the prior year figure of £49.6m. Nic Budden, CEO commented: "Despite the impact that market uncertainty is having on transaction volumes, we are continuing with our clear strategy, centralised business model and steady roll out programme which is delivering higher market share. Our seven new branches opened this year bring our network to fifty one, with all our sites secured for 2015. Foxtons remains highly profitable, cash generative and debt free, and therefore well positioned to deliver further cash returns to shareholders, building on the £28.1m of ordinary and special dividends paid since our IPO."
  11. At a market cap of 550 million and 51 offices, that is still more than 10 million per office. While they are printing money thanks to the idiot snobs who prefer to sell via Foxtons even though they have to pay a higher commission, it is still an astounding figure.
  12. The Americans and the Dutch company were real traders, though the Americans in Chicago are a relic of a previous floor trading era and the Dutch high frequency trading is the more professional operation. That London "training school" is just a sham to take money from people for their training courses. If Piers could make money from trading himself, he would be doing it, not teaching others his methods. The whole thing about buying depending if the figure is high or low is bull too. The Dutch company will be buying/ selling after 0.01 miliseconds after the figure, so why on earth they think they can manually buy/ sell there I don't know.
  13. I think the Duke of Westminster is hiding much of his wealth too. In 1989, the rich list said he was worth 3.2 billion pounds, now they say 8.5 billion pounds, a multiple of 2.6. However prime london properties have gone up by about 6 or 7 times, meaning he should be worth about 20 billion pounds, not counting the rent he would have received.
  14. You are like most British people who think London is the best and biggest city in the world and can't imagine any where else. London is an important city, but so are Paris, Rome, Madrid, New York, Hong Kong, Beijing, Sydney, Tokyo, LA, San Francisco, Rio and Berlin. Except for Tokyo and Beijing, they all have lots of immigrants and rich foreigners buying property there. Yes London, is equal to these, but it is not the only large city in the world.
  15. He says that he has to live in Westminster, as if it would be such a horror to live somewhere a 30 minute commute away with the normal people. He should have just taken the high ground and followed Warsi.
  16. Barratts back down to 335, at the year low. https://uk.finance.yahoo.com/q/bc?s=BDEV.L
  17. I bet the job will go to the child (probably daughter) of a senior Labour figure. They don't want any lower classes in the labour party, the likes of Harman only want the Islington set.
  18. Prime central London is not seen as a safe haven for the "smart money" anymore. If Labour win the next election and bring in the mansion tax, there will be many more sellers as the significant increase in costs cause declining prices.
  19. It is actually worse than that. It has a market cap of ~730 million pounds(https://uk.finance.yahoo.com/q/ks?s=FOXT.L), with 49 offices, that makes it almost 15 million per office! (The 390million was just the proceeds from the ipo)
  20. Starting off by extracting rent from his own Dad. If he is made of the same stuff as the Wilson's he will turf his Dad out if he can get 20 quid extra from someone else.
  21. Talk about an anticlimax. 0.3% is not what I would describe as tanking.
  22. If there are any nuclear strikes on the UK, it is fairly likely to be the centre of London that is targeted. While there is not much chance of that tomorrow, the probability of a strike in the next 50 years will be much more significant than a small number of deaths from pollution.
  23. Im surprised Oxfam didnt just take the richest 5 people from the Times rich list. That one includes all of the non dom billionaires with properties in London, so they are a lot richer than the 5 presented in Oxfam's list. The Duke of Westminster is only 8th richest in the Times list. If they had done that, they might have been able to talk about the richest 5 being worth the same as eg. the poorest 30%.
  24. But if you removed the banker, there would be no one to skim 1% off everyone's savings....
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