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http://www.guardian.co.uk/business/2011/jul/14/barratt-homes-expects-full-year-profit

"The question must be whether London residential is some kind of brave new world or just the latest asset du jour. We fear the latter, although there is doubtless good money to be made from closing out developments already in progress. But we see so much money wanting to invest in new schemes in London that overbuild is a risk, and with office-to-residential potentially to prove very popular, the sheen could very quickly come off this market. One should pay very close attention to Berkeley's deceleration of new investment in London."

Personally I've never understood what drives the London market but find it hard to believe that overdevelopment is likely or office conversions will make a difference.

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http://www.guardian.co.uk/business/2011/jul/14/barratt-homes-expects-full-year-profit

"The question must be whether London residential is some kind of brave new world or just the latest asset du jour. We fear the latter, although there is doubtless good money to be made from closing out developments already in progress. But we see so much money wanting to invest in new schemes in London that overbuild is a risk, and with office-to-residential potentially to prove very popular, the sheen could very quickly come off this market. One should pay very close attention to Berkeley's deceleration of new investment in London."

Personally I've never understood what drives the London market but find it hard to believe that overdevelopment is likely or office conversions will make a difference.

It seems as though we are a 'state within a state'. The same rules don't apply here ;)

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http://www.guardian.co.uk/business/2011/jul/14/barratt-homes-expects-full-year-profit

Personally I've never understood what drives the London market but find it hard to believe that overdevelopment is likely or office conversions will make a difference.

banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

i doubt there will be a fall and totally reject any ideas of a crash in london - immigration and rich folk will see to that

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The World's biggest sporting event is happening in London next year. I suspect that property prices in London will continue to boom until the Olympics have come and gone. Then it could get interesting.

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banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

i doubt there will be a fall and totally reject any ideas of a crash in london - immigration and rich folk will see to that

The UK is effectively a tax haven due to it's non-domicile rules. Hence why you see the upper end of the market rushing away, but the lower end stagnating.

http://www.guardian.co.uk/business/2007/apr/22/theobserver.observerbusiness1

That article is old, but it's still true only now it's worth using the UK as a tax haven if your stupid rich and the 30 grand a year non-dom fee is penuts. Can kind of see why those types stay out of the home counties and concentrate in London. It will remain this way until the global economy settles down and there aren't as many rich refugees seeking to get their ill gotten gains out of their home countries and/or the tax laws change. Since MPs generally own London homes there's not much chance of that!

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The World's biggest sporting event is happening in London next year. I suspect that property prices in London will continue to boom until the Olympics have come and gone. Then it could get interesting.

Parts of Stratford are inner city ghetto cess pits. I suspect the Olympics won't make much difference to them!!

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Parts of Stratford are inner city ghetto cess pits. I suspect the Olympics won't make much difference to them!!

Stratford - is that the place the Docklands Light Railway travels through from London to Canary Wharf?

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I don't believe London is immune from price falls.

Some estate agents told me after the banking crisis prices in prime parts of London fell 10 > 15%,they've more than recovered since then.

Even in places like Guildford,Cobham,Ripley etc on the A3 corridor,prices are still exhorbitant & still marching upwards,don't believe me look on rightmove,many houses sold stc or under offer within weeks.

I have noticed houses needing a lot of work are'nt selling,but the refurbished houses are still shifting pretty fast.

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banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

i doubt there will be a fall and totally reject any ideas of a crash in london - immigration and rich folk will see to that

People said similar things about Dubai....and that didn't end well

If you have made a lot of money dodgily in China, Russia, Greece, Italy, Libya etc. buying property no questions asked in London so you have somewhere to run to makes a lot of sense

This stream of people and the local elite can support prices provided supply is pretty limited, which it has been thanks to forebearance from the banks

However, when interest rates rise and there are more forced sellers....it will get pretty interesting

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http://www.guardian....ull-year-profit

"The question must be whether London residential is some kind of brave new world or just the latest asset du jour. We fear the latter, although there is doubtless good money to be made from closing out developments already in progress. But we see so much money wanting to invest in new schemes in London that overbuild is a risk, and with office-to-residential potentially to prove very popular, the sheen could very quickly come off this market. One should pay very close attention to Berkeley's deceleration of new investment in London."

Personally I've never understood what drives the London market but find it hard to believe that overdevelopment is likely or office conversions will make a difference.

I remember reading about a massive campaign going on to con the nouveau Asian wealthies into investing buying our overpriced property to keep the scam ticking over.

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banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

i doubt there will be a fall and totally reject any ideas of a crash in london - immigration and rich folk will see to that

I'm just not sure I buy it. London is a city of 10 million people. Surely there can't be that many of these people that they can make that huge a difference, or am I being naiive again?

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I'm just not sure I buy it. London is a city of 10 million people. Surely there can't be that many of these people that they can make that huge a difference, or am I being naiive again?

Prices bubbled. They bubbled in London too, therefore they will slide there as well. If prices are falling in the home counties, it will eventually filter through to London, as Londoners buy places in the home counties because they're cheaper.

All we need is some rate rises and everywhere will be toast.

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Stratford - is that the place the Docklands Light Railway travels through from London to Canary Wharf?

Not quite.

The DLR travels from Bank (near/in the square mile) in the West to Beckton in the East; Stratford is to the North(East) and Canary Wharf - then Greenwhich then Lewisham are to the south. It's a bit of a + shape - with the Northern spur offset to the East.

Greenwich is pleasant; Lewisham is a dive but is close to nicer areas... Stratford is (a little) less of a dive than Lewisham - but isn't worth getting excited about... it's a bit like a second-rate Northern town. Beckton is the scary place - it gave me the heebie-jeebies...

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Beckton is the scary place - it gave me the heebie-jeebies...

True that. Mind you the Isle of Dogs felt the same in the early - mid 90s. Hardly recognisable now.

I don't think prices have moved much in the last five years in some parts of east London. In 2005, there were places where you could get a 2BR terrace for around £160K - and that's still just about true now (although they have been lower in around 2008/9 and are slowly creeping up). Although there was a period in around 2006/7 when said terraces were closer to £200K.

Elsewhere in London - it seems to have gone absolutely nuts.

Edited by StainlessSteelCat

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Elsewhere in London - it seems to have gone absolutely nuts.

Heading for a massive fall -- just wait -- the delusion will go on for some time - but that rodent-thingy is over the edge of the cliff - legs still racing away -- below is a VAST abyss.... :rolleyes:

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London makes no sense.

Some of the worst parts of the North look positively delightful compared to London.

For example, here's a star buy (it says so on the listing page):

http://www.rightmove.co.uk/property-for-sale/property-30405967.html?premiumA=true

Star buy indeed. Might leave enough over for a stab-proof vest. Why would anyone with the money to live there, live there?

This is cheaper, just down the road from me, about an hour commute to London:

http://www.rightmove.co.uk/property-for-sale/property-18582963.html

Is saving about half an hour each way each day worth that difference?

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I remember reading about a massive campaign going on to con the nouveau Asian wealthies into investing buying our overpriced property to keep the scam ticking over.

That foreign wealth could make house prices go up even more, drools Savills.

Property Week

10th June 2011

The London residential market is being fuelled by foreign buyers to the tune of £3.7bn each year according to research by Savills.The “World In London” report says £3.3bn is being invested in to existing stock with a further £0.4bn invested in to new build and development stock.

The research also estimates that if Chinese mainland billionaires were able to bring their wealth to London they could move “ultra-prime” prices by as much as 15%

However, restrictions on Chinese buyers taking their wealth out of China means that they still make up a relatively small percentage of the total London residential investment market (2% of prime).

Western European and Nordic make up the highest percentage of foreign investors at 11%. UK investors make up 74.3%.

more here

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Not quite.

The DLR travels from Bank (near/in the square mile) in the West to Beckton in the East; Stratford is to the North(East) and Canary Wharf - then Greenwhich then Lewisham are to the south. It's a bit of a + shape - with the Northern spur offset to the East.

Greenwich is pleasant; Lewisham is a dive but is close to nicer areas... Stratford is (a little) less of a dive than Lewisham - but isn't worth getting excited about... it's a bit like a second-rate Northern town. Beckton is the scary place - it gave me the heebie-jeebies...

The DLR also runs out to Canning Town and City Airport, and services all those lonely wasteland riverside developments which have sprung up in former industrial area's, towards Silvertown, and North Woolwich, then dives under the river to Woolwich.

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banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

i doubt there will be a fall and totally reject any ideas of a crash in london - immigration and rich folk will see to that

a tiny proportion of Londoners are bankers, and they are limited to a few wealthy areas (and frankly who cares if houses in Holland Park are £1bn each? 'irrelevant to the wider market).

wishful thinking on your part.

the average immigrant to London doesn't have a pot to p1ss in (and can't get credit).

Edited by Constable

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a tiny proportion of Londoners are bankers, and they are limited to a few wealthy areas (and frankly who cares if houses in Holland Park are £1bn each? 'irrelevant to the wider market).

wishful thinking on your part.

the average immigrant to London doesn't have a pot to p1ss in (and can't get credit).

I think what he means is, overseas purchasers think the streets of London are paved in gold. ;)

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banker money, london's hyped up to be a world class city attracting wealthy folk from all over. The banking sector which pays the highest salaries is city based- ie london is awash with some very rich and wealthy people who can afford to pay more for houses.

Bankers are one side of the story, as is the gravy-train of high-paid services that cluster round a seat of government.

But being a safe haven for the mafia from around the world may be even more important. And in that regard it's clearly ahead of international rivals such as New York where you're at risk of being prosecuted for your crimes.

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a tiny proportion of Londoners are bankers, and they are limited to a few wealthy areas (and frankly who cares if houses in Holland Park are £1bn each? 'irrelevant to the wider market).

wishful thinking on your part.

the average immigrant to London doesn't have a pot to p1ss in (and can't get credit).

How do you think an area like Canary Wharf would survive without banking? Its all banks, and shopping/cafe's and restaurants for bankers. Then then whole stretches of prime Thames river frontage taken up with bankster pads (or require bankster salaries) to buy or rent. The rest is a sea of social housing.

You can't just dismiss banking's effect on London like that.

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Remember Britain is becoming a poor nation relative to many of these up and coming nations. But a nation with great property rights, the English language and a European population.

There are lots of people in countries like Kuwait who have like £40 million pounds in their bank accounts. Paying £3 million pounds for a house in London is a great investment for them. Gets them iron clad property rights, lets their kids go to school in the UK, may even get them residency.

Buying property in London is a 100 times as good investment as say buying stocks or bonds.

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  • 285 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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