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Is Prime London Crashing? - Merged Threads


Damik

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HOLA441

If they achieve that I would vote for them for rest of my life and donate them one of my kidneys and one of my testicles!

Shouldn't be that hard considering prices went up 20-30% last year/2 years alone. BOE has stress tested banks for 30-35% HPC already.

Yes, earlier I posted a flat which has come down from £440K to £399K. Long way to go though...

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HOLA442

If the Tories engineer a 50% crash, either by accident or design, they'll be wiped out at the next GE!

I'll vote for them if they do !!!

There you go. Simple formula to stay in power forever reduce the housing bust/boom cycle to 5 years.

Starting now, let it fall for next 2-3 years then start rising again in 4/5th year. Both bulls and bears happy = election won.

Edited by Fairyland
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HOLA443

They allowed stagnation up to late 2012/early 2013. They'll do that again. Maybe even slight fall for the next 2-3 years.

But UK Govt immaterial.

Global economy is what matters, init.

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HOLA444

They allowed stagnation up to late 2012/early 2013. They'll do that again. Maybe even slight fall for the next 2-3 years.

But UK Govt immaterial.

Global economy is what matters, init.

They allowed.....hey throw all out futures at keep prices from collapsing.

Collapse is inevitable but with these current figures I'm not getting the collapse vibe I had 4 months ago, just more stagnation at eye wateringly high levels

Something has got to give.

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HOLA445
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HOLA446

I would like to really know what EAs think that about 50% of their stock does not generate any interest:

Lambeth RM traffic for last 24h: 45% (9/20) of "reduced"

Couple of days ago I went to an EA office, sat their for almost 20 mins, no phone calls no people walking in, absolute silence. One of them was probably playing game on this computer or browsing the Internet.

Imagine EAs getting bored and coming to browse this website,

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HOLA447
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HOLA448

The areas in Ealing and Hillingdon boroughs were not very desirable (few years ago). Don't know the recent situation.

Is some investor buying massive amount of land in the cheaper areas to build flats?

Crossrail is making that part of London desirable now.

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HOLA449
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HOLA4410

Crossrail is making that part of London desirable now.

Ahh, I didn't know Northolt(Ealing borough) was on cross rail route. Hayes, may be just south hayes. North hayes(Yeading side) is not walking distance to the station.

Edited by Fairyland
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HOLA4411
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HOLA4412
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HOLA4413
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HOLA4414
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HOLA4415

If it follows we get a small dip and then HPI forever continues.

The small 20% dip in 2009 was affected by reduction of IRs from 5% to 0%. I do not think they will be able to do this trick again ... :wub::wub::wub:

Edited by Damik
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HOLA4416
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HOLA4417

10% + reduction in W3 -

http://www.rightmove.co.uk/property-for-sale/property-49190332.html?premiumA=true

14-04-2015 : £450K

03-06-2015 : £400K

http://www.rightmove.co.uk/property-for-sale/property-31224702.html

02/07/2014: £519,950

26/10/2014: £495,000

24/02/2015: £474,950

29/03/2015: £460,000

Interesting but is that simply because the original asking price was massively overinflated (compared to the rest of the market?).

I have noticed in W9 lots of 44 sqm meter property dropping from £500k to £480k, but still poor value compared to a place that was £499k for 56/58sqm and in considerably better condition.

Other properties dropping from £620k to £570k, with offers of £50k under that again likely to get you the property, but then again same area and only 54sqm, so still above asking.

As part of the estate agent journey around London, I was shown a 1 bed property in a dire state (same area) which was probably about 45sqm with a garden for £530k, however opposite was a much nicer 2 bed property with garden, about 56sqm from memory for £525k (still not sold). The variance in pricing is crazy.

Have noticed lots of £440 ish k property near cricklewood dropping, typically about £20-30k but I know less about that market and probably overpriced in first instance.

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HOLA4418

The small 20% dip in 2009 was affected by reduction of IRs from 5% to 0%. I do not think they will be able to do this trick again ... :wub::wub::wub:

It was a small dip compared to what it should have been, but no one knows what'll happen at the next downturn be it minor or major as interest rates are bugger all so as long as one is in work a mortgage shouldnt be too difficult to fund.

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HOLA4419

Interesting but is that simply because the original asking price was massively overinflated (compared to the rest of the market?).

I have noticed in W9 lots of 44 sqm meter property dropping from £500k to £480k, but still poor value compared to a place that was £499k for 56/58sqm and in considerably better condition.

Other properties dropping from £620k to £570k, with offers of £50k under that again likely to get you the property, but then again same area and only 54sqm, so still above asking.

As part of the estate agent journey around London, I was shown a 1 bed property in a dire state (same area) which was probably about 45sqm with a garden for £530k, however opposite was a much nicer 2 bed property with garden, about 56sqm from memory for £525k (still not sold). The variance in pricing is crazy.

Have noticed lots of £440 ish k property near cricklewood dropping, typically about £20-30k but I know less about that market and probably overpriced in first instance.

Yes, I agree that the falls are still insignificant. I mean how much should a 2 bed flat in Acton(w3) cost ? Anything more than £225K to £250K seems over priced. A £400K plus flat needs 80K+ deposit and how much salary is needed and how many earn that kind of salary??? And even if they earn that much why would they want to live surrounded by council estates in Acton?

Don't know if the prices were inflated to sell HA flats as benefit cap may have left many empty in 2013/14. Or banks repo (unviable BTL)?

Edited by Fairyland
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HOLA4420

Yes, I agree that the falls are still insignificant.

It is not about the size of falls. It is about the EA's provided evidence that the particular property has not had any interest, viewings and offers for number of weeks/months. Meaning that this property would have to be reduced by at least 20% to actually sell.

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HOLA4421
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HOLA4422

It is not about the size of falls. It is about the EA's provided evidence that the particular property has not had any interest, viewings and offers for number of weeks/months. Meaning that this property would have to be reduced by at least 20% to actually sell.

For a sale those Acton flats would need to fall at least 30 - 50% more.

I wonder if ordinary OOs benefit from a boom like that. By the time the media reports about the boom and average Jo gets his house on the market the boom cycle has already turned ?

Of course some will desperately keep clinging to the crumbs.

Edited by Fairyland
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HOLA4423

For a sale those Acton flats would need to fall at least 30 - 50% more.

I wonder if ordinary OOs benefit from a boom like that. By the time the media reports about the boom and average Jo gets his house on the market the boom cycle has already turned ?

Of course some will desperately keep clinging to the crumbs.

On the bright side bigger the boom bigger the fall ...

If the London goes back to 2012 prices it will be like a psychological Tsunami and we could see really magnificent falls ...

Edited by Damik
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HOLA4424

On the bright side bigger the boom bigger the fall ...

If the London goes back to 2012 prices it will be like a psychological Tsunami and we could see really magnificent falls ...

How about 2002-2004 prices, which is where my part of the country fell back to and remain stuck there.

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HOLA4425

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