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Madcrash

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About Madcrash

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    HPC Poster
  1. Start with the mood music changing to a rate rise and that will help. Higher inflation reported today and the possibility of rate rises is all over the news. Compare that to 8 years when it's appeared that rates are heading down or at best remaining historically low and people are (perhaps should be) getting worried.
  2. I live close to Aldgate. I don't think many true hipsters are moving to the new towers being built there. I would assume they are 1/3 filled with young city worker renters, not much else. Perhaps a few overseas students too. The hipsters are all well out into zones 3 and 4.
  3. Madcrash

    BTL to lose more?

    Each to their own, I'd rather have more living space and one good bathroom than less living space and two crappy bathrooms. In an ideal world we'd have more shell apartment sales allowing the buyer to have a good deal more influence over the final finished layouts to suit their needs and wants.
  4. Madcrash

    BTL to lose more?

    Given the constant reports of the difficulty of saving for a deposit in a high price, high rent environment, you are absolutely correct. As time moves on in a declining or at least flatlining market in addition to increasing interest rates how much help the BOMAD will be in future is also in question.
  5. For anyone who likes statistics, I keep (on and off) a little tracker of London postcodes I'm interested in (not necessarily to buy in but because they are representative of some sub-prime districts where I have more of a feel for what's going on through looking around than Chelsea or Fulham perhaps - although SW8 is in there for interests sake). I track E1, E3 (Hackney), E15 (Stratford), E13 (East Ham), SW8 (Nine Elms). In every area sales volume is down whilst listings are up (Feb 16 vs. today). It's the number of listings that are reduced now that is most telling, ranging from a small decrease in SW8 (-3%) to a whopping increase in reduced listings of 158% in Stratford. Data below for anyone who is interested: SW8 E1: E3: E13: E15: Anyway, gist of the post is that I don't really think it's only Prime London that's now crashing, looks as if it's rippling out to the traditionally cheaper eastern areas too. If you take SW8 as a special case, everywhere has listings rising, reductions rocketing and sales volume declining or static. Also notice E1 is unique (for now) in having a measure of price paid in the past 12 months that is higher than past 12 month's average value.
  6. Headline on the front page of Bloomberg has gone from this in the morning: Five London Homes Where Asking Prices Have Tumbled by 20% or More To this in the evening: Five Homes That Accurately Depict London's Property Market
  7. Madcrash

    BTL to lose more?

    Who in their right mind is paying £3100 a month for that dive?
  8. Madcrash

    BTL to lose more?

    Exactly the issue I have. All new build in London seems to be configured as 2 bed, 2 bath which is a complete waste of space for an OO. I live in a rented 2 bed, 2 bath and I go into the main bathroom perhaps once a week to check there's nothing wrong with it. It would be fine to use the 6-7sqm it takes up if I had 100sqm to play with but with 65sqm it's completely pointless. And don't get me started on all the wasted hallway space in these blocks too...
  9. http://uk.businessinsider.com/london-property-developers-offer-to-pay-stamp-duty-in-order-to-sell-properties-2016-6 London property developers are pulling this desperate and costly move to get people to buy luxury homes
  10. “However, the conditions of 2016 are very different to those of 2007: we’re not overbuilding, nor are we pricing secondary assets as prime, and investors and lenders alike have a heightened awareness of the risks in the market,” he said. Riiiight...
  11. http://ftalphaville.ft.com/2016/05/13/2161680/who-would-buy-london-property-in-a-market-like-this/ Who would buy London property in a market like this?
  12. Madcrash

    Rics - New Buyers Desert Market

    Such lazy analysis. Still expect prices to keep on rising. Surveyors have been key to ramping this market. When the crash comes they should be held at least partly responsible for this mess. They have got this as wrong as the ratings agencies did in 2008.
  13. Madcrash

    Bubble Is About To Go Pop!

    Only mainstream article I've see that suggests even with a 20% drop, prices would still be top high.
  14. http://www.telegraph.co.uk/money/consumer-affairs/we-will-look-back-on-help-to-buy-as-a-reckless-even-cruel-policy/ HTB a cruel policy, negative equity a serious risk, even chief executives cannot afford to buy any longer... All from Richard Dyson in the Telegraph of all people and all places!
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