WatchingFromTheHills Posted March 23, 2015 Share Posted March 23, 2015 http://www.rightmove.co.uk/property-for-sale/property-34037229.html Not sure if there's something wrong with this flat, but all the other 2 beds in that building are at 1m+ (although steadily going down). Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted March 23, 2015 Share Posted March 23, 2015 Last year when I told someone at work they could loose a fortune on London property they jumped down my throat to tell me I was wrong. This year, everyone agrees that it is a bubble and best avoided. The emperor has no clothes. The gap between "you're nuts" and "duh, of course" is a fine one. People are very binary with these things. It must be a lonely feeling when you've pushed all your chips onto one square, to the cheer of the crowd....only for the crowd to gasp a moment later. I can actually understand the excuses and finger-pointing and blaming - they made me do it, I was encouraged....it's not my fault... Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted March 23, 2015 Share Posted March 23, 2015 Last year when I told someone at work they could loose a fortune on London property they jumped down my throat to tell me I was wrong. This year, everyone agrees that it is a bubble and best avoided. The emperor has no clothes. Looks like the shires are starting to follow london now....have a look at the shires crash thread today, some big percentages of listing dropping. I'll second that. Detectable change in sentiment from both owners (i dont bring up property anymore at the office. Its like religion or politics) and 1st time buyers. Owners are nervous and have noticed the slow down / falls and the couple of potential 1st time buyers have spoken to have had the attitude 'this is nuts, saved for ages not playing this game'. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 24, 2015 Author Share Posted March 24, 2015 http://www.lse.co.uk/AllNews.asp?code=czpg5ujd&headline=Pound_Falls_Following_UK_CPI_PPI_And_House_Prices Pound Falls Following UK CPI, PPI And House Prices Quote Link to comment Share on other sites More sharing options...
Damik Posted March 24, 2015 Author Share Posted March 24, 2015 http://www.thisismoney.co.uk/money/news/article-3009117/House-prices-stall-average-home-remaining-1k-summer-peak-says-Office-National-Statistics.html House prices fell in January with the average home selling for £1,000 below its summer peak, officials confirmHouse prices sit at £273k - in the summer they had reached £274k London property values also down Even The London market continues to come off the boil. The annual rate of increase in London house prices fell back to a 13-month low of 13.0 per cent in January from 13.3 per cent in December, 15.2 per cent in November and a peak of 20.1 per cent in May 2014. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 24, 2015 Author Share Posted March 24, 2015 Lambeth: 38% (28/73) of price reductions today on RM Quote Link to comment Share on other sites More sharing options...
Hairy1305 Posted March 24, 2015 Share Posted March 24, 2015 Due to MMR, a friend had his house purchase delayed, in the end it took 4, nearly 5 months. On completion (or exchange, I mix them up all the time), the vendor pulled out and demanded a further £50k or he was remarking it. It was a £600k property and this is August 2014. I advised friend to walk, but he didn't, he borrowed more money, from both sets of parents (he was at his limit). I've always known the London market was insane, but this showed me it had really gone crazy. Buffet once said his clue to making money was to be scared when people were greedy and greedy when people were scared. It's still mental in London, but I have a very strong feeling that my buddies sphincter has been going 20 to the dozen since he bought, more so now. Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted March 24, 2015 Share Posted March 24, 2015 Due to MMR, a friend had his house purchase delayed, in the end it took 4, nearly 5 months. On completion (or exchange, I mix them up all the time), the vendor pulled out and demanded a further £50k or he was remarking it. It was a £600k property and this is August 2014. I advised friend to walk, but he didn't, he borrowed more money, from both sets of parents (he was at his limit). I've always known the London market was insane, but this showed me it had really gone crazy. Buffet once said his clue to making money was to be scared when people were greedy and greedy when people were scared. It's still mental in London, but I have a very strong feeling that my buddies sphincter has been going 20 to the dozen since he bought, more so now. http://www.google.com/trends/explore#q=gazumping&cmpt=q&tz= Quote Link to comment Share on other sites More sharing options...
Assume The Opposite Posted March 24, 2015 Share Posted March 24, 2015 GDP Again, just saying Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 24, 2015 Share Posted March 24, 2015 GDP Again, just saying You're saying it, but you you make a cohesive point about what this tells you where the market is heading.... Quote Link to comment Share on other sites More sharing options...
Damik Posted March 24, 2015 Author Share Posted March 24, 2015 You're saying it, but you you make a cohesive point about what this tells you where the market is heading.... What is the money supply in 2014/15 ??? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 24, 2015 Share Posted March 24, 2015 What is the money supply in 2014/15 ??? Official or back door ? Massive more than likely...all being used for BTL mortgages. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 25, 2015 Author Share Posted March 25, 2015 Even ONS is now negative for London. I assume that bank valuators are taking a deep interest in it ... http://www.expressandstar.com/business/uk-money/2015/03/24/property-prices-down-by-0-2/ House prices in London are now 0.7% below the record levels seen last August, although they are still around 38% higher than the peak they reached before the financial crisis set in. House prices in London increased by 13% in the year to January, taking them to £510,000 on average. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 25, 2015 Author Share Posted March 25, 2015 (edited) Lambeth: 35% (24/69) of price reductions on RM in last 24h Kensington and Chelsea: 28% (10/36) of price reductions on RM in last 24h Streatham: 42% (14/33) of price reductions on RM in last 24h Edited March 25, 2015 by Damik Quote Link to comment Share on other sites More sharing options...
Frick Posted March 25, 2015 Share Posted March 25, 2015 http://www.rightmove.co.uk/property-for-sale/property-32187654.html That's what I call a drop... from 2.75m to 1.195m in three weeks. Quote Link to comment Share on other sites More sharing options...
Drained Posted March 25, 2015 Share Posted March 25, 2015 http://www.rightmove.co.uk/property-for-sale/property-32187654.html That's what I call a drop... from 2.75m to 1.195m in three weeks. But the most anyone has sold in that block is 555K according to RM. Quote Link to comment Share on other sites More sharing options...
Frick Posted March 25, 2015 Share Posted March 25, 2015 But the most anyone has sold in that block is 555K according to RM. Providence tower is a completely new one being built / finished right now. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 25, 2015 Author Share Posted March 25, 2015 http://www.rightmove.co.uk/property-for-sale/property-32187654.html That's what I call a drop... from 2.75m to 1.195m in three weeks. I would love to see this builder profit and cash flow predictions. I have read somewhere that the land around the Themes is so overpriced that builders of all these high rises make a tiny profit only. If they sell for the original planned price ... Quote Link to comment Share on other sites More sharing options...
Frick Posted March 25, 2015 Share Posted March 25, 2015 I would love to see this builder profit and cash flow predictions. I have read somewhere that the land around the Themes is so overpriced that builders of all these high rises make a tiny profit only. If they sell for the original planned price ... The entire development of that area started a very long ago (first sales in New Providence Wharf in 2003) and it's all been done by same builder (Ballymore), so I'm guessing they got that area on a very decent price and are still milking it up. They were kite flying to see how big of a fool they can catch. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 25, 2015 Share Posted March 25, 2015 (edited) the old land owners must make a fortune. Couldn't we solve all the problems by the young taking it off Them. You can see how their country could descend into mayhem quite easily. It's happened in every civilised country and odds on one day, maybe next week or maybe in a 100 year, either way, there will be a Republic here. 100,000 police and 100,000 soldiers simply cannot control 70 million, and rising, people. best move to a Republic before the trouble starts. Edited March 25, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Damik Posted March 25, 2015 Author Share Posted March 25, 2015 the old land owners must make a fortune. Couldn't we solve all the problems by the young taking it off Them. You can see how their country could descend into mayhem quite easily. It's happened in every civilised country and odds on one day, maybe next week or maybe in a 100 year, either way, there will be a Republic here. 100,000 police and 100,000 soldiers simply cannot control 70 million, and rising, people. best move to a Republic before the trouble starts. A good start would be a 40% CGT tax (like my income one) from their primary residence ... Quote Link to comment Share on other sites More sharing options...
thehowler Posted March 25, 2015 Share Posted March 25, 2015 It's happened in every civilised country and odds on one day, maybe next week or maybe in a 100 year, either way, there will be a Republic here. Think we tried that in the 1600s, it didn't stick. Regards the place in Providence Tower, if I was dropping a bar on a pad I'd want to be able to see a tree out the window. Not everyone can want to live in a BladeRunner set. Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted March 25, 2015 Share Posted March 25, 2015 the old land owners must make a fortune. Couldn't we solve all the problems by the young taking it off Them. You can see how their country could descend into mayhem quite easily. It's happened in every civilised country and odds on one day, maybe next week or maybe in a 100 year, either way, there will be a Republic here. 100,000 police and 100,000 soldiers simply cannot control 70 million, and rising, people. best move to a Republic before the trouble starts. Tricky though when stealing a bottle of water gets you 6 months in prison. I still think it'll happen eventually - but a lot further off than I'd like. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 25, 2015 Share Posted March 25, 2015 Tricky though when stealing a bottle of water gets you 6 months in prison. I still think it'll happen eventually - but a lot further off than I'd like. I think the establishment shit themselves when it kicked off. It was all0over the Country. The ramped up the propaganda and made a real example of she they caught. maybe t.at was the time to understand what was going on and end of London centric leeching economy. People need jobs, a decent standard of living. The rich are too rich and they ain't giving it up, they are taking more and more. I keep saying, lots of trouble to come. Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted March 25, 2015 Share Posted March 25, 2015 the old land owners must make a fortune. Couldn't we solve all the problems by the young taking it off Them... ~3.5% of population engaged in non-violent civil disobedience gives fairly good odds, apparently: http://www.washingtonpost.com/blogs/worldviews/wp/2013/11/05/peaceful-protest-is-much-more-effective-than-violence-in-toppling-dictators/ The problem is what happens next. Although for most I wonder how much of a realistic problem that is when the options for the State and their winners are to either become so authoritarian that very few gain any longer and/or more join in, or they just get a little more reasonable. Quote Link to comment Share on other sites More sharing options...
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