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Voice of Doom

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  1. Thanks for sharing. I have a small search area in W London. 4 reductions and an SSTC back on today (flats). Enjoying loads of the threads. Some posters on here were well ahead of the curve on inflation, in particular.
  2. Good work, Roman. My neck of the woods this. Which is why I keep banging on about West London flats being - cue piano music - under pressure.
  3. Flat hunter in West London here. My wife and I have gone from moaning about lack of supply to surprise at an influx of new listings in the last week. Prices have not gone up in this neck of the woods but it does seem to be a market within a market here. Will do some calcs on £/sqm as I think some places are actually cheaper than last year. Interesting...
  4. Good point. Am still looking for a flat in W London. Some EAs started by pushing new builds (not for me, thanks!). Can see why as there are bugger all old builds available at the moment and almost no new listings. Passed an agency yesterday and they were all playing with their phones!
  5. http://chiswickw4.com/default.asp?section=property&page=stats2111.htm Chiswick House Market 'Emerging from the Gobi Desert' "After a brief mini-boom in the first half of 2021 due to the Stamp Duty holiday, the number of sales of homes collapsed in the second half of the year."
  6. @henry the king @Smiley GeorgeInteresting to hear all the above, guys. In what part of the world, roughly, are you looking?
  7. Some tasty drops in London above (plus more reduction emails from Rightmove appearing in my inbox). Intrigued to see the asking price indices.
  8. I'm on a few newsletters in the West London area. Where an Estate Agent is quoted by name, they find reasons to be upbeat. This guy from W3 was anonymous: One local agent said, “After all great parties comes a hangover and we are currently dealing with the flip side of what has happened earlier in the year with transactions, particularly of larger properties, falling off a cliff. The problem we have is that the bog standard Acton terrace or local flats, whether new build or old, are not taking up the slack. The market for them has been quite moribund for some time. “I think we might get a Crossrail related bounce in activity at some point in the next 12 months but other than that it would be a great time for estate agents to take a holiday (if holidays could be taken). Some might not have any choice as I think we will see some more industry consolidation ahead.” http://www.actonw3.com/default.asp?section=property&page=stats2108.htm
  9. Danny Dorling, Prof of Geography at Oxford, believes housing has never been utilised more efficiently (back in 2011 post-EU accession immigration). Link here: https://www.academyofurbanism.org.uk/housing-crisis-danny-dorling/ "While we may not have built as many homes as we want in recent years, we have extended the existing housing stock to such an extent that the number of rooms per person has gone up. The 2011 census measured the most rooms per person that the UK has ever had." I'd add massive HPI has happened in countries in the recent past where house building kept pace with and even outstripped immigration (Republic of Ireland in the build up to 2008). Apparently HPI has occurred nationally in the UK recently despite a falling post-Brexit/Covid population. Don't have the link to hand but the depopulation is big. Think Jonathan Portes was one of the academics involved. There is more than one smoking gun but the biggest by far is surely ease of access to cheap credit.
  10. Flat Price Crash - buy the domain now! More seriously, flats are really struggling and not just those in tower blocks. I am now seeing big reductions on flats even in Chiswick, W4 (converted houses). Generally chain-free so looks like landlords selling up. I hope these falls ripple out. Fewer Londoners outbidding others. @henry the kingmight I ask where you are noticing the flat carnage?
  11. I read those posts from the Count and Roman Roady with Duelling Banjos (from Deliverance) as the soundtrack in my mind. Thanks, both.
  12. Rampers/troll activity is a useful marker, I feel. A sort of HPC Fear Index. And usual West London comment from me on prices. Flats...no rises at all. Only falls. Some £10K at a time, others 5-10%. Nervous times as places are now - if broker is right - within range for me now. Further deflation articles most welcome.
  13. Quote function not working for me so this is in reply to the Tooting one. You can now get a 2-bed flat in a nice part of Acton W3 for £325K to £350K. That £400K one has, ahem, a little further to go in my opinion.
  14. Thanks for the Property Lion update. Was surprised to see London not in negative territory. Just been on Rightmove and, yet again, more drops on flats in West London (2 of 10% in my small target area in the last 2 days). Perhaps houses are helping to hold the figures up. So, intrigued to see if Property Log does show big drops.
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