Jump to content
House Price Crash Forum

Is Prime London Crashing? - Merged Threads


Recommended Posts

  • Replies 16.9k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Hello, long time lurker here. I live and grew up in London and, like all of you got fed up of the ridiculous house prices in London (and much of the UK), and found myself on here.  Anyway, enough

Posted Images

He is one of the MSE lot possibly. Could you imagine a 1 bed flat in Kennington costing £600k in a few years time. My goodness!

I hope there is a crash soon and you get wiped out.

Or it could be Venger in a mask, testing our faith ;)

Link to post
Share on other sites
I'm pretty sure New_Paradigm is being sarcastic/ironic...


This line is phrased totally tongue-in-cheek: "I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom"
Link to post
Share on other sites
I'm pretty sure New_Paradigm is being sarcastic/ironic...
This line is phrased totally tongue-in-cheek: "I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom"

If he/she mentions twigs in vases then I'm with you!

Link to post
Share on other sites

I would buy 2, but I am not a greedy person.

I just want to buy one flat not only as an speculative investment but also as a place to live.

I admire your economical genius! And please please buy at least 5 !!!

http://www.telegraph.co.uk/finance/personalfinance/houseprices/11329536/House-prices-The-luxury-London-bubble-has-burst.html

The price of an upmarket London home fell by more than 4pc in the last three months of 2014

Edited by Damik
Link to post
Share on other sites

I would buy 2, but I am not a greedy person.

I just want to buy one flat not only as an speculative investment but also as a place to live.

Buy this one. These guys are making £50k every month:

http://www.rightmove.co.uk/property-for-sale/property-47144180.html

28/01/2015 Price changed: from '£999,950' to '£925,000'

08/12/2014 Price changed: from '£1,100,000' to '£999,950'

16/09/2014 Price changed: from '£1,250,000' to '£1,100,000'

16/07/2014 Initial entry found.

Edited by Damik
Link to post
Share on other sites

I would buy 2, but I am not a greedy person.

I just want to buy one flat not only as an speculative investment but also as a place to live.

Or buy a new build. You will make £25k every month with this one:

http://www.rightmove.co.uk/new-homes-for-sale/property-49314368.html

28/01/2015 Price changed: from '£570,000' to '£525,000'

27/11/2014 Initial entry found.

Edited by Damik
Link to post
Share on other sites

Forever HPI is a natural law, like gravity.

Get your facts right.

Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think?

That is the the total catastrophic scenario.

Still better than renting, and ending up living in a cage in Poplar like most of you.

Sibley, is that you?

Link to post
Share on other sites

The highest priced property sale in today's Land Reg release is Jersey House, 62 The Bishops Avenue, N2 0BE. It sold for £33.7m, having been on the market since 2008 at a reported asking price of £40m (a Google search will reveal several press articles that it has featured in).

The Land Reg price sold data shows it as having been bought in October 2001 for £4.2m. However this is somewhat misleading as the original house was largely demolished, and it is in effect a new build (and is described as such in the agent's brochure).

62TheBishopsAvenueN20BE.jpg

------------------------------

£1 million+ freehold London properties in today's Land Reg data release which have a December 2014 sale date and for which a previous sale price is available.

As in previous months, the properties are sorted by the 'Prev date' column rather than by price.

LR_MillionPlus_Dec14.gif

Link to post
Share on other sites

Land Registry came out today and it shows 15 out of 32 London boroughs in negative territory month on month. Some pretty big fall compared to last month in the actual HPI data set, but weirdly also some gains. I think this bubble might just have a little bit of juice left. I am just doing the calculations for prime London sales for above £2 Million. Keep you all posted. :)

Link to post
Share on other sites

HOLY MOTHER IN HEAVEN THESE NUMBERS FROM THE LAND REGISTRY ARE A THING OF BEAUTY. I just ran some calculations with the LR complete data set for 2014 and the figures for "prime property" are absolutely staggering. I looked at total sales price and number of transactions for properties at 1.5 Million or higher and this is what I found:

Nov 2013 1069 Million at 393 transactions

Dec 2013 1009 Million at 340 transaction
Jan 2014 1052 Million at 393 transactions
Feb 2014 995 Million at 344 transactions
Mar 2014 915 Million at 346 transactions
April 2014 1127 Million at 402 transactions
May 2014 1209 Million at 424 transactions
June 2014 1248 Million at 457 transactions
July 2014 1677 Million at 561 transactions
Aug 2014 1233 Million at 450 transactions
Sep 2014 1094 Million at 383 transactions
Oct 2014 1117 Million at 339 transactions
Nov 2014 656 Million at 228 transactions
Dec 2014 466 Million at ***159 transactions***

OMG, if the above is not undeniable proof that prime London is totally busting as we speak than I don't know what is. This thing is falling apart so quickly I had to double check whether December is usually a slow month which, as you can see in the 2013 figures, is not true. The December 2014 are more than 50% less than the previous year.

I can't wait for the January figures. Anyone bet with me that we will have less than 100 transactions?

Link to post
Share on other sites
  • Guest featured this topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.