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Showing results for tags 'London'.
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This is in Get Reading local news but a couple of snippets: https://www.getreading.co.uk/news/business/reading-been-named-one-worlds-18816507 Reading was 13th place in the Tier 2 Cities of the Future ranking, compiled by FDI Intelligence. The report looks at second cities and other major non-capital hubs that excel in a range of categories around economic, social, education and technology. The town was also 9th in the separate ranking for Business Friendliness, which looks at factors to do with how easy it is to set up and do business in the the town. Reading was 13th out of 116 cities ranked according to economic potential, human capital and lifestyle, cost effectiveness, connectivity and business friendliness, as well as by foreign direct investment strategy.Reading was one of three places in the UK in the ranking. Edinburgh and Manchester - which are cities - were the other two. Manchester was above Reading in 12th place and Edinburgh in eighth place. -
Hi all, If you were young and care free, and had some capital to spare. What business would you look at starting in this current London economy? Disclaimer: I might steal your idea
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Nothing on here so far about this? Or should this be limited to the Greater London thread. Anyway - thoughts? Perhaps ones opinion on whether caps or other form of control is a good idea aligns with ones opinion on the mayor in general
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https://www.metro.news/blitz-on-mcmafia-millions-inquiry-into-property-bought-with-dirty-cash/995084/ Front page today. Like the politicians haven't known all about this for years? Who are they kidding? Nothing in Osbornes Evening lack of Standards, just a one paragraph jobby acknowledging the -1.0% and a full double page spread hatchet job on Corbyn. -
Well ... Stoke Newington to be exact: http://www.rightmove.co.uk/property-for-sale/property-72439538.html The bathroom (just):
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It's behind a paywall: https://www.ft.com/content/10ed0332-2d06-11e8-97ec-4bd3494d5f14 Headline summary: * Italian & French buyers' retreat from South Ken. * International buyers down from 75% to < 50% * Price down 16.8% from peak (2014) * Transaction volumes down 47% between 2013 - 2016 What can you buy for: * £1m: a two-bedroom flat just off Gloucester Rd. * £3.5m: a five-bedroom mews house on Stanhope Gardens. * £18: a five-bedroom townhouse set back from Hyde Park
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My first thought on reading this was what can you buy for £350k in London? Unless they’re admitting/expecting a drop in prices. The more I read at the moment, the more I think we are seeing the death throes of a property bubble. http://www.thisismoney.co.uk/money/mortgageshome/article-5353137/UK-buyers-dibs-London-new-builds-350k.html
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Been lurking on this site for a very long time (almost 10 years I think) and I've found it a great source of information to explain the madness we've witnessed in the last 10 years. I've been looking at this corner of South West London, and couldn't find a thread to track it specifically - so here goes. Been renting in this area since 2010, pretty much straight after landing my first decently paid job in London. It was a relatively undiscovered part, living in the shadows of its more famous cousin (Wimbledon) though has gone absolutely mental in terms of rental and sale prices ever since the Help To Buy scheme came in. Prices have effectively doubled since about 2011 onwards in some areas and they still seem to represent some semblance of value, when you compare it to nearby Wimbledon. Have been tracking it for the last 12 months and the froth seems to blowing off finally after a period of relentless price rises. Housing stock is generally 1930s 'Blay' style housing, with 2 pockets dominating. One is what's called the Apostles - 12 parallel streets within 0.5m of the station which are filled with rows of really narrow terraced houses, that are very popular with commuters and young families (though strangely are not in the catchment areas for any schools). The other area and what we're looking in is the streets off Grand Drive, that runs for about 1 mile from the station before you hit Cannon Hill Common. Anyway, just thought I'd say hi after all this time and see if anyone else is looking in the same area or has any information. Estate agents are still in ramping mode as there's rumours of Crossrail2 coming through this area - which will no doubt take prices even higher from where they are!
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The words 'negative' and 'equity' have finally appeared in the ES http://www.homesandproperty.co.uk/property-news/london-firsttime-buyers-95-per-cent-mortgages-combined-with-slowing-property-prices-increase-a110941.html
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https://www.bloomberg.com/graphics/property-prices/london/ Graphs below the map on price change and volume are interesting, although the article is not sensational. -
Excellent article in the Guardian on the insanity of the London's "luxury" apartment development. https://www.theguardian.com/business/2017/apr/04/the-property-billboards-that-reveal-the-truth-about-britains-luxury-housing-market We are all now familiar with the stories of apartment blocks being thrown up to sell to middle and far eastern investors and this analysis really digs through the issues. I think it is important to recognise that these are not properties that were being built to meet residential demand and that foreign investors just happen to be buying them, but rather, these are developments that are taking place purely to meet the demand of foreign money. The end use is neither here nor there - some will stay mothballed as an investment and to hide assets; some may actually get let out. But the root problem is that there is not the demand for this type of housing by Londoners - the demand is something different - a wall of foreign money that is demanding a piece of the London property market and that is what it will get. Development in London has been configured to meet this demand, not the needs of its residents. A good comparison would be the developments thrown up in regional cities to meet BTL demand pre-crisis. People wanted in, but there just weren't enough of the right type of property, so they got built. Who cared if there was not the demand from people to actually live in them. Naturally this drives yields to ever lower levels, but who cares about yields these days? -
"London house price growth is now so slow, it has fallen to 55th place in a ranking of the 150 global cities with the fastest house price growth." Which either means it's everywhere else's turn to go coco or we're possibly witnessing the crash (albeit in very slow motion).
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Looks like the FT are not the only ones to this were on the edge of small corrections price corrections (10%). Hopefully, the actions match the words. I used to be a home owner in Ruislip and bought a home in 2005 for £205k I recently saw a house for sale on the same street for £650k. It was a shock to me how much a three-bedroom terraced house is going for in London, especially when the salaries have been stagnant or dropping in some cases. I almost feel that an elite is trying to remove those who grew up in an area, to make way for richer cliental from abroad. http://uk.businessinsider.com/times-survey-londons-property-bubble-will-finally-burst-in-2017-2016-12
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Posted this on the News blog, but as my submissions never seem to appear there, I thought I'd post it here too: https://www.theguardian.com/business/2016/oct/13/properties-seized-assets-corrupt-cash-crackdown-criminal-finances-bill-tax-haven We'll see how this pans out; but if it has any teeth at all, then it's yet another measure that will discourage foreign "investment" (cough). We've had a drip-drip-drip of legislation this year, all designed to discourage (in one way or another) the idea that property is simply an investment vehicle - and sooner or later, it has to bite. And while I'm ever the cynic, I increasingly feel that our new Prime Minister is one of those rare and elusive of creatures - someone with backbone and a belief in doing what's right, rather than what lines one's own pockets. We shall see, we shall see. Interesting times.
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Back onto house prices instead of politics or racism! List what you have seen and see if we can start a snowball rolling.....
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I should start the London hate thread -
Hi, one conundrum for you guys. London HAS or HAS NOT a property bubble ?. After reading articles from both sides for the last 2 years in the London property market, here two examples: Business Insider: These charts show how London's property bubble may burst at any moment http://www.businessinsider.com.au/hsbc-london-house-price-and-earnings-charts-2015-12 Absolutely the opposite ... Will UK Interest Rate Rises Crash House Prices? http://www.marketoracle.co.uk/Article51903.html This just seems unsustainable but with an increasing immigration, house shortage, help-to-buy scheme with governments borrowing a lot of money, its just doesn't really looks it can't stop. But none of us can´t afford to buy in the next 5 years with headlines saying that prices could soar 50% in the next 10 years. Thanks Roger
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Finding this interesting, Landsdowne auction results (London auction room today)https://www.eigroup.co.uk/onlineauctions/ Live Auction Results - 20 April 2016The auction is now complete. Please note: The results shown below are provisional and are subject to approval by the auctioneer. Lot Status Last Bid 38 Sold £205,000 33 Unsold £500,000 32 Unsold £270,000 28 Unsold 25 Unsold £243,000 24 Sold £380,000 20 Unsold £690,000 19 Sold £215,000 17 Unsold £90,000 16 Sold £1,200,000 11 Unsold £1,400,000 10 Unsold £362,000 6 Unsold £515,000 2 Sold £551,000 1 Sold £225,000
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I've just read Zac Goldsmith's housing manifesto. One bit particularly struck me (my emphasis): Would a three to five year tenancy be considered an AST? From my (probably poor) understanding, no it won't. Don't BTL mortgages generally insist on ASTs? I believe so. This would seem to be another nail in the coffin for debt powered BTL in London, if Zac won of course...
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http://www.standard.co.uk/news/london/london-named-worlds-most-expensive-city-in-which-to-live-and-work-a3192981.html? Yay. We win. Bow to my mad paint.net skillz. -
From http://www.idealista.com/news/inmobiliario/internacional/2016/01/25/740704-el-piso-mas-barato-de-londres-es-un-estudio-de-7-m2-que-ha-costado-111-000 [spanish] Can anyone verify this. The source is Idealista, Spain's version of rightmove. It sounds just about credible for the madness in the market, however, just becuase it has been put on the market does not mean it is going to sell.
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Don't think this has bee mentioned on here? Rent caps as the solution though... ignore the casue, treat the symptom...
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Morning all - been a while but I'm back for the second leg of HPC. RICS monthly report out today shows things getting underway in London: - new buyer enquiries down, new vendor instructions up - tenant demand down, rent expectations down And there was this gem among the comments from surveyors: "Landlords sitting on vacant, over-valued flats are looking to independent agents for advice. We anticipate an interesting year ahead."
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http://www.bbc.co.uk/news/uk-27360032 Viva Austeriteh! Viva the London real estate asset class! Viva Boris!
