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House Price Crash Forum

stuthepooh

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About stuthepooh

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  1. Dubai hotel rates fell 24% last year according to the Economist: http://www.economist.com/daily/chartgaller...e=features_box4 Another boot...
  2. I have heard it all before. The fact is that Canary Wharf adds 1000s of workers to the area every years. There are now over 100,000 workers in those office blocks which possibly equates to the highest average earnings per square metre anywhere in the world.
  3. Things may have changed my friend. I spent the last 10 years living between Wimbledon and Putney which I love. I then moved into my own buy-to-let (don't ask) in Canary Wharf. Compared with what you get in Putney it is very impressive. ie for $250k you get a much larger flat and a 5 minute walk to work rather than 1 hour stuffed in a sardine can. The restaurants at the waterfront are excellent and you can watch the sun go down over the Thames every evening for free or with a coffee/beer. Great lifestyle that many overlook. No wonder my last tenants stayed for 3 years, and the ones befo
  4. When I bought in 95 many mortgage companies would not lend on flats above commercial premises and some would not even lend on "conversions" ie victorian houses split into flats. Both these types of property were seen as inadequate security as they were hammered in the crash. Ironic that they subsequently rose more than any other class of property, but now overvalued again...
  5. Go to: http://www.nethouseprices.com/ Type in the postcode: SW19 3PJ (you need to register first) This brings up my old street: Newton Road I sold my mid terrace at number 23 in Dec 03 for GBP332, but check out what's going on at number 29 a few doors down: Sold for GBP 330 in Oct 03 Sold on again for GBP 297 in Feb 04 - a 10% fall on the same property! Some background: Number 29 is an identical mid terrace to number 23 except that they had recently spent GBP25k on a loft conversion (bedroom and bathroom) and it is a few doors closer to the railway yards at the end of the culdesac and
  6. Falling already, the bottom will be reached in 5 years.
  7. I dread to think of all those residents cramming onto the train at wandsworth town. Putney used to be bad enough and it gets more trains...
  8. Docklands nightmare becomes reality Selected quotes: Investors at Melbourne Docklands have hit the panic button with more and more properties, some not even settled, are being rushed onto the stressed apartment market prior to Christmas. Agents reveal many more Docklands apartments remain ‘on-the-books’ awaiting tenants or buyers, but are yet to be advertised. One financial planner who spoke to propertyreview.com.au believes many small investors will lose life savings at the Docklands Stories of investors, who bought more than one apartment at Docklands and then selling for losses t
  9. PROPERTY FAILS BIG TEST "In the Sydney suburb of Cronulla, four gorgeous newly-built homes were auctioned. Last year, these homes were reportedly offered for sale at $1.5 million each. They sold on the weekend for an average price of $870,000. That’s a 42 per cent fall between yesterday’s perceived value and today’s reality. Of all the places in the world where property prices have increased, the Australian outlook is “the most grim†according to a report released recently. “Australian house prices are 29 per cent overvalued,†says the Goldman Sachs report (see BRW November 4 â€
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