sutemiwaza Posted March 6, 2010 Share Posted March 6, 2010 Market is strong...lack of properties is making people pay silly money in Chelsea. Our team were having a chat yesterday in the pub and we are all worried about the back end of the year. It is amazing how many agents think it is going to go pear shaped. Now time to go out! Quote Link to comment Share on other sites More sharing options...
catmandu Posted March 7, 2010 Share Posted March 7, 2010 Well, most people don't really investigate the property market in much detail. You may or may not agree with the general bearish opinions on this site, but at least people look into the market and make a conclusion based on their research. For your average person, they look at the last 10 years, see a nice increasing house price curve and draw the conclusion that it'll continue. This is fortified by most of their friends' anectodes about making big money over the last 10 years. At the end of the day the housing market is not magical and the constraints that have always applied over the long term will bring everywhere, including Chelsea back to the market. There's lots of talk about foreign money buying houses cheap because of the exchange rate. If people really move their money that fast into property because of exchange rates, we can expect to see a similar withdrawal from the market when the exchange rate reverses (as it will in due course, despite many people's predictions of currency collapse). That would hit the market hard - especially places like Chelsea I imagine. Quote Link to comment Share on other sites More sharing options...
James Wyatt Posted July 19, 2010 Share Posted July 19, 2010 Here is the link to our latest graph and index. http://www.johndwood.co.uk/pdf/chelsea_property_graph_and_index_july_2010.pdf James Wyatt FRICS Quote Link to comment Share on other sites More sharing options...
fallingbuzzard Posted July 19, 2010 Share Posted July 19, 2010 But why? Here is the link to our latest graph and index. http://www.johndwood.co.uk/pdf/chelsea_property_graph_and_index_july_2010.pdf James Wyatt FRICS Quote Link to comment Share on other sites More sharing options...
James Wyatt Posted July 20, 2010 Share Posted July 20, 2010 Apologies for lack of explanation. The graph and indices represent pounds per square foot at the date of exchange and therefore some of the properties will not have even completed. Chelsea is showing resilience even though other areas are "softening" (if I have a chance I will post some others). Chelsea is an area very dependent upon inherited wealth and foreign buyers. Consequently, most owners are equity rich and if prices fall they can afford to sit tight. James Wyatt FRICS Quote Link to comment Share on other sites More sharing options...
fallingbuzzard Posted July 21, 2010 Share Posted July 21, 2010 I'd like to see the other areas. It surprises me that Chelsea isn't 20%+ ahead of 2007. Apologies for lack of explanation. The graph and indices represent pounds per square foot at the date of exchange and therefore some of the properties will not have even completed. Chelsea is showing resilience even though other areas are "softening" (if I have a chance I will post some others). Chelsea is an area very dependent upon inherited wealth and foreign buyers. Consequently, most owners are equity rich and if prices fall they can afford to sit tight. James Wyatt FRICS Quote Link to comment Share on other sites More sharing options...
James Wyatt Posted October 6, 2010 Share Posted October 6, 2010 It seems the last post was quite an accurate prediction of the direction of the market. Latest graph and index: http://supadu.com/images/ckfinder/54/pdfs/Chelsea%20Property%20Graph%20and%20Index%20October%202010.pdf James Wyatt FRICS Quote Link to comment Share on other sites More sharing options...
bwaters1980 Posted October 18, 2010 Share Posted October 18, 2010 Has anyone got any good removal companies to use for the Chelsea area? I have found a good quote for London removals online, but wondering if anyone has any other recommendations? Cheers guys Quote Link to comment Share on other sites More sharing options...
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