pizza

Yeah, it's nonsense isn't it? I think this was not at all unexpected, given 1) stock piling for a March brexit, 2) the global slowdown/trade war 3) a new government whose central assumption as that we will have a no-deal Brexit in October.

Downwards momentum

Those two tables at the end are quite comprehensively down. Every price bracket: down. Prime central London and prime outer London: both down. Houses and flats: both down.

Chasing the market down.

He meant this to be a reason to vote remain, not realising that for a great many it is a reason to vote leave.

That man is bonkers, a fruit-loop. This is his priority?

Oh yes, I can see it now. US big pharma submits a junk new medicine for approval to the UK's Medicines and Healthcare Regulatory Agency. MHRA rejects it for being unsafe. US big pharma then takes UK to a secret trade tribunal for $10bn of 'lost profits'. Think it can't happen? It has already happened to Canada.

If he delivers a no deal Brexit he won't be.

I hate this expression. It just means the seller's fantasy asking price is too high. Much too high. Can they sell their house for £500 million? No, of course not. Can they sell it for £500? Yes, of course. Somewhere in the middle is the right price, and it is lower than what the seller thinks it is.

I see the same in my area of London - asking prices generally below 2015/2016 sold prices. Some refurbished properties with designer loft conversions, side return extensions, basement dug-outs etc etc on the market for higher prices, but when you think how much the all that work would cost I still think things are below peak, similar to the maths with Confusion of VIs Harringey example. But why do we need anecdotals? Official stats show 8 consecutive quarters of YoY falls in London.

The powers-that-be keep saying that a hard Brexit will trash the economy. I don’t think they realize that quite a lot of people want a hard Brexit for exactly that reason, because it is their only chance to be able to afford a house. “But you won’t be able to buy a house if you don’t have.a job,” they say. Well, true, but most people can’t afford to buy a house scen with a job. And I think people are willing to take a chance that it won’t be them who loses their job. It’s the last role of the dice.

Headline in today’s Evening Standard, on all their billboards: Biggest house price fall for a decade

What? London house prices slide for eight quarter in a row (The Guardian, today)

👍

Enjoyed? This is the established narrative. But the only people who 'enjoy' rising prices are the already wealthy with a substantial investment in property. Everyone else loses out.