North London Rent Girl Posted April 23, 2016 Share Posted April 23, 2016 Supply and demand, innit? Yup, we know what's happening here and need enquire no further, keep walking people - aaaaarrrgh! Quote Link to comment Share on other sites More sharing options...
thewig Posted April 23, 2016 Share Posted April 23, 2016 Well there certainly not building any more land etc. If you build it, he will come. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 23, 2016 Share Posted April 23, 2016 Supply and demand, innit? No it is not innit.....there is plenty a supply of stuff at the wrong price...kite flying. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 23, 2016 Share Posted April 23, 2016 Well there certainly not building any more land etc. If you build it, he will come. You can build up into the sky....plenty of empty office space as well as livable housing space....space many from all over are using as bank accounts to store their cash and debt in. Quote Link to comment Share on other sites More sharing options...
suntory Posted April 23, 2016 Share Posted April 23, 2016 Regarding supply and demand innit: If anything we have a massive over supply in London. It's absolutely gigantic. In SW8 only 2% of listed properties get sold. That's pretty dire. Yes, postcodes like E8 or N16 are doing a lot better but still, only about 10% get sold in a given month. Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 23, 2016 Share Posted April 23, 2016 Regarding supply and demand innit: If anything we have a massive over supply in London. It's absolutely gigantic. In SW8 only 2% of listed properties get sold. That's pretty dire. Yes, postcodes like E8 or N16 are doing a lot better but still, only about 10% get sold in a given month. Ive heard rumoured that banks are getting antsy about builders who are very exposed to Chinese and the like coughing up the balance of their money, after putting down 20k. Quote Link to comment Share on other sites More sharing options...
tulipz Posted April 23, 2016 Share Posted April 23, 2016 My rent is £2000 per month for a 7 bed house on an acre of land, 25 minutes from Kings Cross. Maybe I should trade it in for a 30% share of a 3 bed flat in Stratford? WOW! Where do you live? Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 23, 2016 Share Posted April 23, 2016 WOW! Where do you live? Id guess Pboro or Hertfshire. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted April 23, 2016 Share Posted April 23, 2016 Luton? Quote Link to comment Share on other sites More sharing options...
honkydonkey Posted April 23, 2016 Share Posted April 23, 2016 (edited) Ipswich, Diss...? Edited April 23, 2016 by honkydonkey Quote Link to comment Share on other sites More sharing options...
richc Posted April 24, 2016 Share Posted April 24, 2016 WOW! Where do you live? Hertfordshire. Quote Link to comment Share on other sites More sharing options...
Funn3r Posted April 24, 2016 Share Posted April 24, 2016 Great article in print edition of FT this weekend, "London property market problems can't be blamed on Brexit". Goes on to say city bonuses down 10-15 percent and not paid in instant cash. According to bloke at Knight Frank he isn't seeing usual pickup at time of year when people know what their bonus will look like. Goes on to say demand from Asian buyers has evaporated, and price cuts following over-building in some parts of the capital which they hilariously dub "Nine Elms Disease". Quote Link to comment Share on other sites More sharing options...
darwin Posted April 24, 2016 Share Posted April 24, 2016 Great article in print edition of FT this weekend, "London property market problems can't be blamed on Brexit". Goes on to say city bonuses down 10-15 percent and not paid in instant cash. According to bloke at Knight Frank he isn't seeing usual pickup at time of year when people know what their bonus will look like. Goes on to say demand from Asian buyers has evaporated, and price cuts following over-building in some parts of the capital which they hilariously dub "Nine Elms Disease". Priceless Quote Link to comment Share on other sites More sharing options...
Digsby Posted April 24, 2016 Share Posted April 24, 2016 Priceless Why didn't we think of that? Quote Link to comment Share on other sites More sharing options...
frederico Posted April 24, 2016 Share Posted April 24, 2016 I don't get it, the banks the financial wonder companies are all bust, they are paying themselves with money taken from productive workers. There is no money in London its all smoke and mirrors. The emperor has no clothes (or clue) Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 24, 2016 Share Posted April 24, 2016 I don't get it, the banks the financial wonder companies are all bust, they are paying themselves with money taken from productive workers. There is no money in London its all smoke and mirrors. The emperor has no clothes (or clue) London is all benefits and public sector pay. Most private firms would/have left years ago. Quote Link to comment Share on other sites More sharing options...
darwin Posted April 24, 2016 Share Posted April 24, 2016 Why didn't we think of that? I know, right? Quote Link to comment Share on other sites More sharing options...
london_thirtythree Posted April 24, 2016 Share Posted April 24, 2016 Received this from a London Estate Agent this morning – seems a bit Private Eye Desperate Marketing style. http://www.marshandparsons.co.uk/latest/blog/item/3871-5-reasons-why-now-is-a-great-time-to-buy-property-in-london From chatting with various agents in April, asking prices seem to have become very fluid as no one knows (although lots of people can guess) what impact the combined Stamp Duty, BTL Mortgage Interest Relief and the Referendum are going to have – and the general word is that finding any buyers is pretty thin on the ground. I imagine this kind of email ironically works against itself in proving that now is a terrible time to buy rather than a ‘great time’ to buy – as presumably there is no buyers as everyone is worried about a falling market, which is why this email exists. (First time post, but have been lurking away for some time now after finding this site back in January. I would like to be a OO in London but reading up on the market here and elsewhere has been quite eye-opening.. particularly compared to the 'only-way-is-up' thinking that has been going on since 2013 in London) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 25, 2016 Share Posted April 25, 2016 What, did they just send you a link ? That's called spam, you best ask them to delete your details under the data protection act. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted April 25, 2016 Share Posted April 25, 2016 London market in trouble? Landmark flats held back from sale The developer of Battersea Power Station is holding back around 150 apartments in phase three of the landmark scheme. In an interview with Property Week, Rob Tincknell - chief executive of the Battersea Power Station Development Company - admits the market has “softened” for high-end apartments in central London. Tincknell told the magazine that 35 apartments from the initial tranche of phase three were still on sale but 150 were being held back. “If there is market demand, we will release more units, but the market has softened. When we sell the 35 we will probably release some more, but the market is the market, and we don’t need to be chasing sales” he says. Earlier this year there were media reports that Rightmove and Zoopla were “awash” with “unofficial resales of flats in developments including Battersea Power Station.” Sluggish sales were put down to the increased stamp duty on most apartments priced over £937,000, jitters in international stock markets and the strengthening of Sterling against the currencies of some Asian countries where overseas buyers are typically based. Some analysts now say uncertainty over the EU referendum result is now adding to instability. Property Week says the latest revelation about Battersea Power Station contrasts with strong sales of phase one of the scheme; this launched to a high-profile fanfare in early 2013 and all 865 apartments sold in just a few weeks. However, around 20 apartments in the 254-unit phase two remain unsold, despite being launched some two years ago. Earlier this month Estate Agent Today reported that one central London agency, Portico, was adopting a fixed fee ‘offer’ to vendors over the summer, and was running a competition for any seller instructing it on a property valued at £1m-plus. https://www.estateagenttoday.co.uk/breaking-news/2016/4/london-market-in-trouble-landmark-flats-held-back-from-sale Quote Link to comment Share on other sites More sharing options...
winkie Posted April 25, 2016 Share Posted April 25, 2016 I don't think I've seen a time period where so many ea leaflets come through the door as they do at the moment! You know why?.....everybody wants to buy an/your overpriced home...NOT. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 25, 2016 Share Posted April 25, 2016 https://www.estateagenttoday.co.uk/breaking-news/2016/4/london-market-in-trouble-landmark-flats-held-back-from-sale How many clues to people need. #CaveatEmptor Quote Link to comment Share on other sites More sharing options...
brit1234 Posted April 25, 2016 Share Posted April 25, 2016 I don't think I've seen a time period where so many ea leaflets come through the door as they do at the moment! We are getting almost 1 a day now, these are all the top London estate agencies and certain developments in Battersea, starting to look like panic. Quote Link to comment Share on other sites More sharing options...
ccc Posted April 25, 2016 Share Posted April 25, 2016 Watching HUTH for first time in ages. Interesting couple of blokes on. Russians - clearly bankrolled by daddy and have their own company buying places and doing them up to sell to wealthy Russians. "Everyone in Russia dreams of buying a house in London" is an actual quote. The most interesting thing he said however - was when talking about selling up after they had finished - he said that people will still need somewhere to live even if prices drop and THIS BUBBLE EXPLODES. Even those in the middle of this thing trying to make money out of it realise its about to pop. It can't be long now. This was filmed in 2014. It really does seem to be hanging on with its fingernails. Quote Link to comment Share on other sites More sharing options...
ccc Posted April 25, 2016 Share Posted April 25, 2016 How many clues to people need. #CaveatEmptor "We don't need to be chasing sales" Errrr That's like Ronaldo saying he doesn't need to be chasing goals. You can smell the fear. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.