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House Prices ‘Will Bounce Back By Up To 33% Over Five Years

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http://www.thisislondon.co.uk/money/article-23894803-house-prices-will-bounce-back-by-up-to-33-percent-over-five-years.do

House prices ‘will bounce back by up to 33% over five years’

Jonathan Prynn, Consumer Business Editor 05.11.10

* Housing market: Warning over mortgage reform

London property prices will recover vigorously from the current slowdown, with values surging by up to a third by 2015, a report forecast today.

The biggest rises will be in Kensington and Chelsea — where average prices will leap by 33 per cent to smash the £1 million barrier — and Westminster, where they will also go up by a third, according to esearch by estate agency Savills.

But the rises will be almost as strong outside the “billionaire quarter” with Camden, Hammersmith and Fulham, Richmond, Islington and Wandsworth all seeing increases of 31 per cent, way above the predicted level of inflation.

“Up-and-coming” boroughs, including Tower Hamlets and Greenwich, will see 30 per cent rises, partly because of the Olympics effect. Even in Barking & Dagenham, the least-popular residential spot, values will rise by 20 per cent, well above the national 12 per cent.

Growth will be fuelled largely by those already on the ladder, wealthy foreign buyers and City bonuses. First-timers will continue to find it hard to purchase in the capital because of the scarcity of mortgage funding, the report warns.

The research divides London into A, B or C markets. The A markets, such as Kensington and Chelsea, are largely cash-driven and most buyers do not need a mortgage.

B areas are “middle London”, from Ealing to Enfield, with mainly owner-occupiers who still need mortgages. In the C districts, predominantly on the poorer eastern fringes, buy-to-let investors drive the market.

The hotspots and not-so-hot spots: Click below to see how house prices will rise in your borough

:lol:

Please post some comments. The business editor (Jonathan Prynn) is completely daft IMO.

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Hmm didn't savills also say recently that prices will not reach the peak again until 2016.

Any housing Market research/forecast from an estate agent isn't worth wasting time reading.

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This monstrosity was built on a plot where they demolished a £600k house, up for £4 million, a neighbour who lives nearby told me these properties always go to foreign buyers. Within a half mile radius I saw another 3 higher priced houses being demolished, something strange is going on. :rolleyes:

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http://www.thisislondon.co.uk/money/article-23894803-house-prices-will-bounce-back-by-up-to-33-percent-over-five-years.do

House prices ‘will bounce back by up to 33% over five years’

Jonathan Prynn, Consumer Business Editor 05.11.10

* Housing market: Warning over mortgage reform

London property prices will recover vigorously from the current slowdown, with values surging by up to a third by 2015, a report forecast today.

The biggest rises will be in Kensington and Chelsea — where average prices will leap by 33 per cent to smash the £1 million barrier — and Westminster, where they will also go up by a third, according to esearch by estate agency Savills.

But the rises will be almost as strong outside the “billionaire quarter” with Camden, Hammersmith and Fulham, Richmond, Islington and Wandsworth all seeing increases of 31 per cent, way above the predicted level of inflation.

“Up-and-coming” boroughs, including Tower Hamlets and Greenwich, will see 30 per cent rises, partly because of the Olympics effect. Even in Barking & Dagenham, the least-popular residential spot, values will rise by 20 per cent, well above the national 12 per cent.

Growth will be fuelled largely by those already on the ladder, wealthy foreign buyers and City bonuses. First-timers will continue to find it hard to purchase in the capital because of the scarcity of mortgage funding, the report warns.

The research divides London into A, B or C markets. The A markets, such as Kensington and Chelsea, are largely cash-driven and most buyers do not need a mortgage.

B areas are “middle London”, from Ealing to Enfield, with mainly owner-occupiers who still need mortgages. In the C districts, predominantly on the poorer eastern fringes, buy-to-let investors drive the market.

The hotspots and not-so-hot spots: Click below to see how house prices will rise in your borough

:lol:

Please post some comments. The business editor (Jonathan Prynn) is completely daft IMO.

Post him a link to HSBC threatening to leave the city!

Wealthy foreign investors buying up all FTB's property so they can all move up the ladder ... my a*se.

The next headline should read "London Evening Standard likely to have a circulation of 20,000,000 in 5 years. Just about as likely muppets.

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The next headline should read "London Evening Standard likely to have a circulation of 20,000,000 in 5 years. Just about as likely muppets.

Now a free newspaper the Evening Standard is limited to printing only 600k copies a day by some obscure regulation. ;)

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Now a free newspaper the Evening Standard is limited to printing only 600k copies a day by some obscure regulation. ;)

How the heck do you know that rubbish?

Don't tell me, you read it in the Evening Standard. ;)

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How the heck do you know that rubbish?

Don't tell me, you read it in the Evening Standard. ;)

No, I worked for the Evening Standard from 1959 to 1980 and still keep in touch with old workmates who inform me of the latest.

When the newspaper went free 60 redundancies were required among the circulation staff. The new Russian owner said it should be from the younger staff as they have a better chance of finding new employment whereas the older longer serving ones would find it difficult. ;)

Next question please. :rolleyes:

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No, I worked for the Evening Standard from 1959 to 1980 and still keep in touch with old workmates who inform me of the latest.

When the newspaper went free 60 redundancies were required among the circulation staff. The new Russian owner said it should be from the younger staff as they have a better chance of finding new employment whereas the older longer serving ones would find it difficult. ;)

Next question please. :rolleyes:

So the Russian boss had a sense of logic then. I guess the younger ones could work down the salt mines or whatever.

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Britons worried about mortgages and their jobs were offered a glimpse of light at the end of the longest recession in history.

If they wait another 20 or 30 years they might even see the light at the end of the tunnel rather than just an imaginary glimpse.

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So the Russian boss had a sense of logic then. I guess the younger ones could work down the salt mines or whatever.

No, wrong again the older ones would have got much higher redundancy and pension payments. He may have been a Communist in the past but now he has discovered Capitalist Economics. ;)

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Such unfettered mania, who'd have thought Bulls from the last boom still exist! They can't claim to be bulls for the next boom already - that's 10-15 years off yet! Smeg! B)

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Thats funny, I always assumed 'research' was a systematic means of hypothesis testing underpinned by a robust methodological approch - how wrong was I!

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Such unfettered mania, who'd have thought Bulls from the last boom still exist! They can't claim to be bulls for the next boom already - that's 10-15 years off yet! Smeg! B)

+1

Yolanda Barnes - head of residential property research at savills - a PhD in macroeconomics from LSE? time spent in research in a good investment house?

no

a BA in Geography. they don't even say the grade. I bet it's a desmond.

Yolande is a Geography graduate from University College London who has extensive experience in property research, having previously worked at Healey and Baker [a property auctioneers] as an office and industrial property analyst.

not a clueless VI then

if you want to be annoyed, read this by her:

http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article5150590.ece

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http://www.thisislondon.co.uk/money/article-23894803-house-prices-will-bounce-back-by-up-to-33-percent-over-five-years.do

House prices ‘will bounce back by up to 33% over five years’

Jonathan Prynn, Consumer Business Editor 05.11.10

* Housing market: Warning over mortgage reform

London property prices will recover vigorously from the current slowdown, with values surging by up to a third by 2015, a report forecast today.

The biggest rises will be in Kensington and Chelsea — where average prices will leap by 33 per cent to smash the £1 million barrier — and Westminster, where they will also go up by a third, according to esearch by estate agency Savills.

But the rises will be almost as strong outside the “billionaire quarter” with Camden, Hammersmith and Fulham, Richmond, Islington and Wandsworth all seeing increases of 31 per cent, way above the predicted level of inflation.

“Up-and-coming” boroughs, including Tower Hamlets and Greenwich, will see 30 per cent rises, partly because of the Olympics effect. Even in Barking & Dagenham, the least-popular residential spot, values will rise by 20 per cent, well above the national 12 per cent.

Growth will be fuelled largely by those already on the ladder, wealthy foreign buyers and City bonuses. First-timers will continue to find it hard to purchase in the capital because of the scarcity of mortgage funding, the report warns.

The research divides London into A, B or C markets. The A markets, such as Kensington and Chelsea, are largely cash-driven and most buyers do not need a mortgage.

B areas are “middle London”, from Ealing to Enfield, with mainly owner-occupiers who still need mortgages. In the C districts, predominantly on the poorer eastern fringes, buy-to-let investors drive the market.

The hotspots and not-so-hot spots: Click below to see how house prices will rise in your borough

:lol:

Please post some comments. The business editor (Jonathan Prynn) is completely daft IMO.

Oh boy are they wrong!

Thanks to the actions of president bush,we will more likely be witnessing a fulfillment of enoch powells little prophecy,so plenty of spare capacity for housing in the not too distant future.

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No, wrong again the older ones would have got much higher redundancy and pension payments. He may have been a Communist in the past but now he has discovered Capitalist Economics. ;)

Somebody ought to hire him to do a litle speech at the next labour party conference.....because "they" obviously still don't get it.

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There's a link to this article from housepricecrash, hence the, er slightly extreme, comments.

- Phil, London, 05/11/2010 22:31

Oh no i feel like i've created an infinite feedback loop :unsure:

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+1

Yolanda Barnes - head of residential property research at savills - a PhD in macroeconomics from LSE? time spent in research in a good investment house?

no

a BA in Geography. they don't even say the grade. I bet it's a desmond.

not a clueless VI then

if you want to be annoyed, read this by her:

http://www.timesonli...icle5150590.ece

Sh uses one of the Famous Bloo Loo Precision predictor kits with the auto tilt 30 degree anti slump mechanism. Its a doozy to set up, but boy, does it predict some stuff.

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  • 259 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
      • up 2.5%
      • up 5%



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