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Damik

Is Prime London Crashing? - Merged Threads

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It didn't sell for £260k in Jan 2015 so they increased the price to £300k!

Ahh, got it. Didn't see the listing history. Wish I got that price in West London zone 3.

Edited by Fairyland

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That crap might be -'ve crap.

London pulled the index +ve and peoples expectations with it.

If london is crashing as hard as we expected it's going to have a massive impact on sentiment.

http://www.bbc.co.uk/news/business-33148004

UK house price growth slows, says ONS

Last week, a survey published by property services group LSL suggested that house prices in the smartest parts of London have fallen by up to 22% since last autumn

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Err great listing pics. Inherited property?

It's no. 154 for your future reference.

According to Zoopla

Property type: Terraced house | Tenure: Freehold | Last sale: £56,000 | Sale date: 24th May 1996

http://www.zoopla.co.uk/property/154-sutton-court-road/london/e13-9ns/7841843

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The only market participants I have issue with is those continuing to buy at ever higher extreme prices. Obviously I hope the flippers come unstuck too, but it's the buyers for me.

FreeTrader, it looks to have sold for slightly (£60,000) above asking price in 2014 (setting a new peak price, as is so often then case.. new peak to new peak to new peak for buyers) - I think I recognise that building in the far distance... the one which allows vehicle access - going to check my auction records.

http://www.zoopla.co.uk/property-history/9-st-catherines-mews/london/sw3-2px/32186558

One for rent on the same run. http://www.rightmove.co.uk/property-to-rent/property-34694400.html

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I think I recognise that building in the far distance... the one which allows vehicle access - going to check my auction records.

http://www.zoopla.co.uk/property-history/9-st-catherines-mews/london/sw3-2px/32186558

No; I'm mistaken - not much at all like the recent auction for this Mayfair entry..

http://www.auction.co.uk/residential/LotDetails.asp?A=932&MP=24&ID=932000015&S=L&O=A

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http://www.bbc.co.uk/news/business-33148004

UK house price growth slows, says ONS

Last week, a survey published by property services group LSL suggested that house prices in the smartest parts of London have fallen by up to 22% since last autumn

Looks like the BBC has a new agenda.

Bubble buyers collapse

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Nah, this is greed:

Bought for £2,460,000 March 2014, listed yesterday for £3,950,000 - in an area where little has been shifting.

:lol::lol::lol::lol:

Using the brilliant Appraised chrome plugin someone on this forum made:

  • Mar 2014 (Terraced, Freehold)£2,460,000
  • Estimated Value£2,631,306
  • Asking Price£3,950,000 50.12%

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<p>

:lol::lol::lol::lol:

Using the brilliant Appraised chrome plugin someone on this forum made:

  • Mar 2014 (Terraced, Freehold)£2,460,000
  • Estimated Value£2,631,306
  • Asking Price£3,950,000

    50.12%

Pop

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

Yes, the Government predicted it...thats exactly what all the props were for.

They just denied it all along...stating everything they did was to help people get on the ladder of ownership...

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

He was berated on here, but Nadeem Walayat on the Market Oracle predicted it and currently forecasts pause over next few months and then on to bull market. I'm as bearish as they come but so far he's been pretty accurate. Edited by mikthe20

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

If it was easy to predict market cycles/bubbles we would not have them at the first place.

Interestingly the bubble mark II kicked off only in and around London. E.g. Birmingham is still on 2004 prices after the 2007 crash.

So I would say that bubble mark II is very local and just London centric. And perhaps driven by foreign money. Looks like that Birmingham's locals do not have spare £1 mill to buy a "luxury" flat ...

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

I went to a meeting for work a few years ago where a valuation company predicted it. They had the benefit of seeing the massive increase in sales to Asia first hand. Naturally, armed with this expert opinion, I decided they must be wrong so chose not to buy.

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Cheers - so seems there were a few here and there. Not many though.

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In Spring 2009 I said L and SE would rise but I didn;t expect the huge foreign money to flood in. (My bad.)

The long term though has always been down IMHO.

The market was dead H2 2010 to H2 2012. On the day HTB was announced (Budget 2013) I said prices and mkt will rise till the election nationwide.

Edited by Killer Bunny

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In Spring 2009 I said L and SE would rise but I didn;t expect the huge foreign money to flood in. (My bad.)

The long term though has always been down IMHO.

The market was dead H2 2010 to H2 2012. On the day HTB was announced (Budget 2013) I said prices and mkt will rise till the election nationwide.

Anything which increases the flow of mortgages will lead to rising prices. Rising prices leads to rising collateral, which enables more lending. This was the party that the government wanted to and succeeded in getting started again (after stalling between 2010-2012). MMR was obviously an attempt to slow the rapid escalation of this process because we all know where it leads.

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Did anyone predict the London bubble mark II ?

I can't remember anyone here. And plenty of folk here are rather interested in house prices.

I also can't remember anything I read elsewhere.

Does this show how difficult it is to predict these things ?

Just my thought for the day !!

I recall Northern Rock, , RBS-AMRO still going through and then almost immediate trouble thereafter, Alastair Darling warning of hardest times since 1930s, all the excuses on here that buyers had been misled by advertising/other VI, property-pron in Bubble 1.0 into paying such high prices... then intervention after intervention including interest rates slashed for savers and dropped for overborrowers (and then new borrowers) and instead of HPC... bubble on bubble year after year.

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He was berated on here, but Nadeem Walayat on the Market Oracle predicted it and currently forecasts pause over next few months and then on to bull market. I'm as bearish as they come but so far he's been pretty accurate.

I wouldn't swap positions with him with housing; as in I don't see value here from purchase and still feel comfortable for HPC vs those paying such prices... let alone his forecasts. Despite some hpcers expecting Sheffield set to be hit by massive money from London for HPI+++++.

orm041.jpg

https://www.google.co.uk/maps/@53.351196,-1.51469,3a,81.9y,191.17h,80.37t/data=!3m6!1e1!3m4!1s5XyX-SqS2WFCuoQ-9u9tNg!2e0!7i13312!8i6656

3 http://www.rightmove.co.uk/house-prices/S11/Silverdale-Close.html

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I wouldn't swap positions with him with housing; as in I don't see value here from purchase and still feel comfortable for HPC vs those paying such prices... let alone his forecasts. Despite some hpcers expecting Sheffield set to be hit by massive money from London for HPI+++++.

orm041.jpg

https://www.google.co.uk/maps/@53.351196,-1.51469,3a,81.9y,191.17h,80.37t/data=!3m6!1e1!3m4!1s5XyX-SqS2WFCuoQ-9u9tNg!2e0!7i13312!8i6656

3 http://www.rightmove.co.uk/house-prices/S11/Silverdale-Close.html

I agree totally, and straight line forecasts always look ridiculous, especially that one - but he's been generally right thus far.

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I agree totally, and straight line forecasts always look ridiculous, especially that one - but he's been generally right thus far.

Right thus far, with prices in London (and my area) at new peaks, massively over 2007. My early-mid 30s brothers and sister and their partners all earn circa £50K in demanding senior positions... vs these house prices. One has just turned down a job offer because... what is the point of taking on so much more seniority for £15K more, vs these insane market values, where outpaced 11% HPI last year, and similar year and year before that... ... stress and less time with family.

I maintain the reflation has been all about banks/UKAR etc getting rid of bad positions (to investors and yield chasers and forever HPIers), clearing the way so they can handle major future HPC + volume lending.

Those paying ever higher prices last few years (making all other owners homes on same road/area worth more.. that's how markets work) have to continue being right for HPI. When those at margin sell for less (bringing down values for other owners).. we'll see.

Deputy Gov Broadbent says no intervention on prices, just BoE focus on transactions.

Exactly the same for USA - cleared the way, offloading to Wall Street investors and REITs (older VI doubling down into property mostly), with banks better positioned to allow a prime HPC then furious lending in volume to younger generations at much lower prime house prices.

Smug owners like to tell you how they bought for next-to-nothing years ago and now it's worth fortunes, but all that equity on owner side is earning nothing for the banks. They need to get fresh debt on it to make their money.

USA.

mortgage-applications.png

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senior... and succession planning with this role, ... to eventually take over clients from

No. Just not worth it.

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  • 396 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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