VictorTW

I'm waiting for the big Foxton's EA on Park Lane to close. That place really symbolized the bubble in my opinion and it's closing would indicate the bursting of the bubble for me.

It's a former tunnel because it's now an investment opportunity. Any property is PROPERTY nowadays. I've seen the shoe boxes of the future Conrad. They're already being built near where I live. I don't know how they get planning permission though... I've added an attachment to show you.

Don't worry Conrad. I've found a nice place for you. You'd only have to borrow another 5 grand. http://www.rightmove.co.uk/viewdetails-823...=1&tr_t=buy You'd would have to live in Hayes though. You'd also have to worry that your very close neighbour might forget and drive into your front door.

It's a mystery to me. Who will pay almost a million pounds for that house? What will they do for a living? The average wage in this country is still around 25 grand so the average person can only borrow around 90 grand.

That's 1.5 million US $ for a not very impressive house. Who is it that's going to buy it??!!!! Can you commute to the City from Hove?? I can think of a million better ways to spend that money. I think it's the same every where. I was reading an article about property in the paper this week. They did a special on Twickenham that stated that a one bedroom flat costs £220,000 to buy or £800 a month to rent. It didn't mention that it would be so much cheaper to rent than to buy but he difference was obvious. But ! in today's paper there was a story about a new residential property fund. They hope to buy up hundreds of new flats to rent out. What do they know that we don't???

The lists on Gumtree are so long I can't be botherd to go through them. The house next to mine has just been converted to more flats. It's all good.

Sorry. That link didn't work. Here http://www.rightmove.co.uk/viewdetails-756...=5&tr_t=buy

Right above Asda. According to Barrat Homes these new 2 bedroom flats are £290,000 http://www.barratthomes.co.uk/site.cfm?intDevID=687 But here we see one being sold on and they're only asking £270,000 http://www.findanewhome.com/south-east-eng...11-b807d72a99af

It's the same here. New build flats in my area ( Hounslow Middx) which are from 231K on the constructors website are appearing in local estate agents for 210k for the one bedroom. Still too expensive though.

Yes. Hounslow is certainly a shirt hole. They are now asking under 270 for the 2 bedroom flats. http://www.rightmove.co.uk/viewdetails-756...=5&tr_t=buy That's still stupid money but I 'm enjoying watching the prices coming down. There are so many up for rent BTLs will be hurting.

One more update. Evidence. According to Barrat Homes these new 2 bedroom flats are £290,000 http://www.barratthomes.co.uk/site.cfm?intDevID=687 But! Here we see one being sold on and they're only asking £270,000 http://www.findanewhome.com/south-east-eng...11-b807d72a99af

Just a quick update. I am continuing to keep an eye on the Blenheim Centre. More and more of the flats are appearing in estate agent windows for rent and Rightmove is full of them, offered to rent up to £1700 pcm. All that to live above Asda. I'm convinced that the only people who are buying flats in this development are investors and I also predict that they will have real trouble making them pay.

You don't mention anything about the house. It could be very desirable. Some people seem to think that property prices are going to keep going up whilst ignoring the fact that people aren't earning a lot more money. Any way , some people rushed to buy Partygaming shares at £1.75!!!

This is what has to happen. I think the BTL gang are going to cause the crash by over zealous investment where there is no demand. City bankers will spend a lot of money on flats and houses but not everywhere. I think the Buy-to-letter who buys the nice flat in the down market area will find it increasingly difficult to rent out. A lot of people are moving in to London but many are low paid workers who want a single room for £80 a week. Go to the Job Centre and you'll see the £6.50 PH jobs. What kind of rents can these workers pay? I read that overall yield on renting out both residential and commercial in the UK is almost half of what it was in 1997. I think the people who buy abroad to rent out will have trouble too. I don't know any one who wants to rent a flat in Bulgaria for a holiday. Does any one actually want to rent a flat in Dubai??

After reading some posts on this forum I began to investigate my own area of Hounslow TW3. It's not a posh area at all and to earn 20 grand a year is considered good money. A lot of new flats are being built and I often wonder who could possibly afford them when you consider the prices. e.g. There seems to be a lot of flats available to rent in the Blenheim Centre in Hounslow. This is a large block development from Barratt Homes with an Asda superstore on the ground floor. They seem really expensive when you consider you'd be living above Asda in Hounslow. 3 bedroom apartments are from £435,000 which is $855,000 US, to live above Asda in Hounslow!!! Will big bonus City executives want to buy pads here? I can't imagine so. It doesn't seem to make sense for the BLT gang either. This one bedroom here is £850 to rent...... http://www.rightmove.co.uk/viewdetails-137...2&tr_t=rent As a 1 bedroom flat in the centre is £231,000 by my calculations that would bring in £10,200 a year or about 4.4%, and one add says available Dec 06 now. http://www.barratthomes.co.uk/site.cfm?intDevID=687 In my opinion, if there is a boom in Hounslow its a boom in renting out single or double rooms for about £80 PW. Is this evidence of the irrational exuberance we often hear about??