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Everything posted by suntory

  1. Erm, why is this thread not on fire? UK Immigration officers are asking Abramovich to explain where his wealth comes from. ABRAMOVICH for god sake. This is huge. His assets in the UK could be seized. I doubt it would ever get there but the threat in itself will send shockwaves through oligarchical circles - not just in Russia. This is the death of London as a safe haven for dirty money.
  2. This is all shaping up rather nicely. VIX is through the roof. Dow futures down by 550. And yes, crypto-insanity it is. The new Fed guy has his work cut out. To me the the big question is whether or not they can keep the lid on a gold price explosion. Surely this is what the Russians and Chinese have been gearing up to since 2008. Both cultures are known for their patience but perhaps it's finally running out. Watch gold today. If it breaks out the game is on!!!!
  3. Dow is down by 4.60% in a single day. VIX is hitting into levels not seen for years. Cryptos are going wild. All eyes on Nikkei. This is turning into puke fest. Is IT happening?
  4. Ok everyone. Here is a good one to track. In October this year, a 1 bedroom flat in the Gibson Gardens complex in N16 sold for £410k. At 426 square feet, that translates to £962 per square foot. That is an absolutely insane price per square foot for that part of town. Either that flat was lined with gold coins or steam is evaporating from the market very quickly. Now they are advertising TWO bedrooms in that complex for £425k. At 474 square feet, that translates to £896 per square foot. That is if course still an insanely high price. Also, it's ASKING price so sold price will be quite a lot lower. Check out the property here Gibson Gardens, London http://www.rightmove.co.uk/property-for-sale/property-62203996.html Per square foot we are talking about a hefty fall of a minimum of 6.8% (pending on final sold price) in just a couple of months. I reckon early 2018 will be a bloodbath of EAs.
  5. The rate of change is so consistent and so aggressively going south that I reckon that quite a lot of people out there are, quite literally, shitting themselves.
  6. Shit is getting real in K&S. A fall of 6.5% in asking prices in a single month according to Rightmove. Average time to sell also significantly over the same time last year (68 days versus 56 days). Happy days.
  7. The proportion of properties already on the market that have reduced their price is the highest at this time of year for seven years: 43% of sellers who are still looking for a buyer have dropped their asking prices, with the average reduction of 6.7% indicating some initial over-optimism and a tougher market http://www.rightmove.co.uk/news/house-price-index/
  8. London now -2.4% year on year. Check out the chart on page 14. It's beautiful. http://www.acadata.co.uk/LSL Acadata E&W HPI News Release October 17.pdf
  9. Anyone know when the next LSL Acadata report is coming out? Last time I checked the graph for year on year HPI was going negative for London.
  10. Snigger at what? The god awful view on to the back of a council estate or two guys and a dog up to no good while smoking a fag and drinking beer?
  11. Welcome to the thread. Your first post is rather excellent. With these kind if numbers you will make friends very quickly here. these are some ******ing hefty reductions.
  12. 2 bedroom flat on Clissold Crescent bought for £667,500 in November 2015 according to LR records: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=55727123&sale=57298728&country=england 2 bedroom flat on Clissold Crescent (only marginally smaller though otherwise very similar) currently advertised for £450,000 on Rightmove: http://www.rightmove.co.uk/property-for-sale/property-46999842.html When do the people in the first flat realise that in less than two years, the value of their flat went down by a cool £200k?
  13. In a project dubbed 'Bowline', Bloomberg reports that Deutsche Bank may shift about 300 billion euros ($350 billion) from the balance sheet of its U.K. entity to Frankfurt as client trading and assets migrate to the continent following Britain’s decision to leave the European Union. While not the first bank to threaten to move post-Brexit, the scale of asset movement is the largest yet.
  14. Something similar happened to me a few months ago. LL wanted to increase from £995 to £1150 pcm. Informed me via text message and added that we are the ideal tenants and he wants to keep us. WTAF? In an email I informed him that we would like to stay but won't pay £155 more a month. I attached a PDF of a rental property a few doors down that sat empty at £995 and it was quite similar to his place. He didn't seem too convinced and said that the EA told him they could easily rent it out for £1200. I lived in the area for a while and knew the market very well and told him that. As a token of good will I offered a 1% increase. He accepted. However the episode left a bad taste in my mouth and an opportunity arose to move to a cheaper and better place in a different part of town. I kept on thinking that the LL (generally a nice guy I should say) really shot himself in the foot by pissing off the perfect tenant with the net result of getting £9.50 more a month. It was totally not worth it. Once we moved out they listed it for £1200 pcm. Then for £1150. Then for £1100. Then for £1050. And then for £995 pcm. Haha I thought. There you go. Just as I told you. But it didn't stop there. They relisted it at £950 pcm because there were no interested parties. I drove by THREE months after we moved out and it was still empty. Eventually they found someone and I believe they were paying £950 pcm though I can't be a 100% sure. Perhaps even less. The guy was neck deep in the LL game having acquired 10 properties within a year or so. He bought them just before the S24 changes were announced. Safe to say that he is totally and utterly ******ed. If you are in such a precarious financial position, wouldn't you want to bend over backwards to treat your tenants nicely? Oh, I forgot to add. On the day we moved out he thanked us for being good tenants. I asked him how his 10 property empire is doing and he said he had to evict a tenant who did not pay a single month's rent since moving in. I think it ended up being 6 months lost rent and court costs. Yikes. The moral of the story: some people need to learn things the hard way.
  15. Brilliant analysis. Thank you for creating this charts. Very useful. I particularly the last chart.
  16. But when it was put to McDonnell that this process could take time, he said parliament could legislate to speed things up. He told the programme: “In emergency measures, as we saw in wartime periods as well, you can requisition properties. You will need powers to do it. We have got those powers. “If necessary, I would have convened parliament immediately to, if necessary, push more legislation through within 24 hours, if that was necessary. We cannot be in a situation where we have people who have lost their homes struggling to find alternative accommodation and we have properties standing empty.”
  17. So what you are saying is that Berkeley is having a cash flow problem? Hahahahaha.
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