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House Prices Up 50% In East London

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BBC News are doing a piece on the Olympics this morning and couldn't resist reporting a 50% increase in house prices in some parts of East London :rolleyes:.

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Edited by Pent Up

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BBC News are doing a piece on the Olympics this morning and couldn't resist reporting a 50% increase in house prices in some parts of East London :rolleyes:.

Is that the decade on decade figure?

That will be one hell of a crash back to reality in 2013 :D

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Is that the decade on decade figure?

That will be one hell of a crash back to reality in 2013 :D

Why do they talk as if 50% up is a good thing....totally beyond the of the realms of reality. The games are only on for a fortnight. ;)

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Why do they talk as if 50% up is a good thing....totally beyond the of the realms of reality. The games are only on for a fortnight. ;)

Greece has been a major influence on the World Economy since their games induced huge inward investment and massive sporting and hotel facilities.

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Greece has been a major influence on the World Economy since their games induced huge inward investment and massive sporting and hotel facilities.

Yep, saw the pictures....didn't look very healthy and up and coming to me. :huh:

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http://www.rightmove.co.uk/news/newsletter/1488

Fresh property continued to flood onto the market in London
over the past month, creating some downward pressure on new sellers’ asking prices. This month they have reduced their price aspirations by
-1.7%
(£7,349) compared to June.
..../
Early indications from the next quarterly Rightmove Consumer Confidence Survey, due out in August, suggest a swing to a more negative outlook on the future direction of property prices. In the April survey, before the election and emergency Budget, fewer than half of respondents (44%) believed that prices would be the same or lower in twelve months’ time. Of those surveyed so far in July, a majority (54%) now expect that prices will be the same or lower a year out, reducing for some the sense of urgency to buy.

The Olympics will create a temporary bubble in everything in that area and when it is all over: POP!

Edited by Realistbear

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http://www.rightmove.co.uk/news/newsletter/1488

Fresh property continued to flood onto the market in London
over the past month, creating some downward pressure on new sellers’ asking prices. This month they have reduced their price aspirations by
-1.7%
(£7,349) compared to June.
..../
Early indications from the next quarterly Rightmove Consumer Confidence Survey, due out in August, suggest a swing to a more negative outlook on the future direction of property prices. In the April survey, before the election and emergency Budget, fewer than half of respondents (44%) believed that prices would be the same or lower in twelve months’ time. Of those surveyed so far in July, a majority (54%) now expect that prices will be the same or lower a year out, reducing for some the sense of urgency to buy.

The Olympics will create a temporary bubble in everything in that area and when it is all over: POP!

I'm afraid London really is a different market altogether. Ive been visiting friends around north and west london and prices are astronomical, often well up on peak prices. For example, where i used to rent in Hendon terraced houses being sold for 270-280k in 2005-2006 are now on offer for 425-450k. Utterly insane but if they get a bite thats a 60% rise after the worst financial crisis in decades. Lets face it London will never be 'affordable' again.

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I'm afraid London really is a different market altogether. Ive been visiting friends around north and west london and prices are astronomical, often well up on peak prices. For example, where i used to rent in Hendon terraced houses being sold for 270-280k in 2005-2006 are now on offer for 425-450k. Utterly insane but if they get a bite thats a 60% rise after the worst financial crisis in decades. Lets face it London will never be 'affordable' again.

London is a mega bubble, 2008 was a taster, I expect 40-50% nominal falls in London over the next 3 years (as you illustrate this would still leave London expensive) finally leading the country down into the much needed recovery of the housing market to a more sustainable level.

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http://www.rightmove.co.uk/news/newsletter/1488

Fresh property continued to flood onto the market in London
over the past month, creating some downward pressure on new sellers’ asking prices. This month they have reduced their price aspirations by
-1.7%
(£7,349) compared to June.
..../
Early indications from the next quarterly Rightmove Consumer Confidence Survey, due out in August, suggest a swing to a more negative outlook on the future direction of property prices. In the April survey, before the election and emergency Budget, fewer than half of respondents (44%) believed that prices would be the same or lower in twelve months’ time. Of those surveyed so far in July, a majority (54%) now expect that prices will be the same or lower a year out, reducing for some the sense of urgency to buy.

The Olympics will create a temporary bubble in everything in that area and when it is all over: POP!

Great news RB. Thanks for posting it.

I think it deserves its own thread actually - if there isn't one about it yet.

Regional falls: http://www.rightmove.co.uk/news/house-price-index/july-2010-regional-trends

Edited by Tired of Waiting

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Funny this the BBC saying prices up 50% .

After the games were announced the developers were charging £300k , for a one bed flat and these flew out the door in off plan sales.

Two years ago someone connected to the property market there told me these same flats now built were selling for £165 k.

My guess is that the second statment is more accurate.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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