Patient London FTB Posted April 13, 2017 Share Posted April 13, 2017 6 hours ago, deadlyavenger said: Some interesting links from todays news: https://www.bloomberg.com/news/articles/2017-04-12/london-housing-in-its-deepest-slump-since-the-financial-crisis http://www.ibtimes.co.uk/uk-house-price-growth-subdued-march-surveyors-say-1616818 http://news.sky.com/story/housing-market-is-stagnant-with-stock-at-record-low-surveyors-10835115 Some more negative press for Nine Elms too https://www.buzzfeed.com/patricksmith/why-are-asking-prices-for-londons-luxury-flats-falling?utm_term=.ubZQeaOkR#.gb47eq5n0 Quote Link to comment Share on other sites More sharing options...
Frizzers Posted April 13, 2017 Share Posted April 13, 2017 2 hours ago, Patient London FTB said: Don't be surprised if it goes for close to asking. Waterloo and Elephant are gentrifying and period houses with gardens are rare in this area. Schools nearby are fairly ok as far as I know. There'll be plenty of London couples who are ready to start/grow a family and who can afford that place if they're trading up. Their first flat will have surged in price over the past few years, will be pretty easy to sell for the next few months, and the mortgage payments on trading up will look pretty affordable. The big change in the market is that this kind of buyer won't be able to keep their last flat and turn 'accidental landlord'. That means they'll be competing with each other to sell to buy, and the winner should be whoever has the least messed-up chain. Yes, I won't be surprised. It has a scarcity value and for a house on the outskirts of zone 1 some location value too. I think whoever bought it got a deal. Quote Link to comment Share on other sites More sharing options...
papag Posted April 13, 2017 Share Posted April 13, 2017 2 hours ago, Patient London FTB said: Link: https://www.vice.com/en_uk/article/every-flat-in-a-new-south-london-development-has-been-sold-to-foreign-investors that is really scandalous wonder what any of our politicians will have to say about this. Quote Link to comment Share on other sites More sharing options...
Frizzers Posted April 13, 2017 Share Posted April 13, 2017 Yes. Councils are supposed to look after their people, particularly left wing ones liek SOuthwark, not screw them over. Anyone would think the system is bent Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted April 13, 2017 Share Posted April 13, 2017 1 minute ago, papag said: that is really scandalous wonder what any of our politicians will have to say about this. The article also mentions how the Labour council who did the development deal (Southwark) is being stopped by a Tory minister (Sajid Javid) from evicting leaseholders on another nearby estate. But it is government policy, probably a Tory govt, that was seen to be stopping councils from borrowing to develop stuff on their own. Although some councils, e.g. neighbouring Lambeth, are setting up special purpose vehicles to redevelop their estates themselves rather than sell their land to a developer. That still involves leaseholders being compulsorily bought out and facing the risk they won't be able to afford the replacement homes. Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted April 13, 2017 Share Posted April 13, 2017 5 minutes ago, Frizzers said: Yes. Councils are supposed to look after their people, particularly left wing ones liek SOuthwark, not screw them over. Anyone would think the system is bent This documentary about the whole thing is supposed to be coming out soon http://velvetjoyproductions.com/dispossession/ Quote Link to comment Share on other sites More sharing options...
honeybadger Posted April 16, 2017 Share Posted April 16, 2017 If anyone's interested, I have some new plots of mean price per square metre for period flats in London. Link to the thread: link Quote Link to comment Share on other sites More sharing options...
SamuearlJackson Posted April 16, 2017 Share Posted April 16, 2017 I've not seen this posted yet - fresh from the PCL HPC coal face, the Knight Frank March 2017 London map: https://kfcontent.blob.core.windows.net/research/734/documents/en/march-2017-4588.pdf PCL 12 month price change -6.4% PCL 12 month rent change -4.9% Slam-a-lam-a-ding-dong. Quote Link to comment Share on other sites More sharing options...
honkydonkey Posted April 16, 2017 Share Posted April 16, 2017 http://www.zerohedge.com/news/2017-04-15/london-housing-market-suffering-worst-collapse-financial-crisis Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted April 18, 2017 Share Posted April 18, 2017 London House-Price Growth at Five-Year Low as Luxury End Slumps Kensington and Chelsea led declines among the capital’s most expensive areas. https://www.bloomberg.com/news/articles/2017-04-17/london-house-price-growth-at-five-year-low-as-luxury-end-slumps Quote Link to comment Share on other sites More sharing options...
Mr Foster Posted April 18, 2017 Share Posted April 18, 2017 Just got a call from an estate agent about a dump in Notting Hill they are trying to flog.. sounded pretty desperate to me. He told me his colleagues think the market has stablised in the last few months.. expect prices to rise from now.. hahah.. they are dreaming.. they have been blaming price falls on the general election, on stamp duty rises, Brexit.. now general election again.. anything but the elephant in the room = outrageously high prices which were inflated by foreign money ; btl investors and low interest rates. This tells me many sellers are still hoping for HPI forever.. the estate agent will tell them this is only a temporary blip of course... I would say any realistic house price movement is not going to happen for another 6-12 months.. rather than getting frustrated at stagant prices for the short term.. I suggest we all should take summer off and come back to this forum at the end of the year Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 18, 2017 Share Posted April 18, 2017 (edited) 1 hour ago, Mr Foster said: Just got a call from an estate agent about a dump in Notting Hill they are trying to flog.. sounded pretty desperate to me. He told me his colleagues think the market has stablised in the last few months.. expect prices to rise from now.. hahah.. they are dreaming.. they have been blaming price falls on the general election, on stamp duty rises, Brexit.. now general election again.. anything but the elephant in the room = outrageously high prices which were inflated by foreign money ; btl investors and low interest rates. This tells me many sellers are still hoping for HPI forever.. the estate agent will tell them this is only a temporary blip of course... I would say any realistic house price movement is not going to happen for another 6-12 months.. rather than getting frustrated at stagant prices for the short term.. I suggest we all should take summer off and come back to this forum at the end of the year If only I'd thought of that. Edited April 18, 2017 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
The Preacherman Posted April 18, 2017 Share Posted April 18, 2017 Luxury London home made famous by TV shoots with celebrity chefs FAILS to sell after a year and is pulled off the market by owners who couldn't attract a buyer with a spare £1.1M http://www.dailymail.co.uk/femail/article-4420738/London-home-celebrity-chefs-filmed-sells-1-1M.html Ian and Wajeeha Nolan put Wandsworth property up for sale last March It's believed the couple bought the four-bed home for £335,000 in 2002 Airy kitchen was used as filming location for Joe Wicks, Levi Roots and Greg Wallace Property boats paved garden, two bathrooms, a reception room and four bedrooms Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted April 18, 2017 Share Posted April 18, 2017 15 minutes ago, The Preacherman said: Luxury London home made famous by TV shoots with celebrity chefs FAILS to sell after a year and is pulled off the market by owners who couldn't attract a buyer with a spare £1.1M http://www.dailymail.co.uk/femail/article-4420738/London-home-celebrity-chefs-filmed-sells-1-1M.html Ian and Wajeeha Nolan put Wandsworth property up for sale last March It's believed the couple bought the four-bed home for £335,000 in 2002 Airy kitchen was used as filming location for Joe Wicks, Levi Roots and Greg Wallace Property boats paved garden, two bathrooms, a reception room and four bedrooms Seems from the comments like the story originally, earlier today, said the house had SOLD for £1.1m. Daily Fail. Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted April 18, 2017 Share Posted April 18, 2017 2 minutes ago, Patient London FTB said: Seems from the comments like the story originally, earlier today, said the house had SOLD for £1.1m. Daily Fail. That's true. I saw the original article earlier, it did say it has sold. Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted April 19, 2017 Share Posted April 19, 2017 8 hours ago, The Preacherman said: It's believed the couple bought the four-bed home for £335,000 in 2002 Well they've been shooting up like a rocket on that street. Look at the gainz here. http://www.rightmove.co.uk/house-prices/SW17/Mandrake-Road.html I assume this was a doer upper, but that's some profit. Half a mil minus refurb costs banked in 12 mths. http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=57727004&sale=78650433&country=england Quote Link to comment Share on other sites More sharing options...
Mr Foster Posted April 19, 2017 Share Posted April 19, 2017 5 hours ago, AvoidDebt said: Well they've been shooting up like a rocket on that street. Look at the gainz here. http://www.rightmove.co.uk/house-prices/SW17/Mandrake-Road.html I assume this was a doer upper, but that's some profit. Half a mil minus refurb costs banked in 12 mths. http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=57727004&sale=78650433&country=england Am i missing something? this is in Tooting? not Richmond.. or is Tooting part of Balham these days.. Even Balham is an up coming area. Splashing £1million plus on a non-prime area really signify the absurdity of the housing market. Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted April 20, 2017 Share Posted April 20, 2017 BNP Paribas Real Estate The research found London prices would rise by 6.8 per cent over the next four years, to £505,297 by 2021. https://www.estateagenttoday.co.uk/breaking-news/2017/4/housing-market-good-news-price-growth-over-10-by-end-2020 Quote Link to comment Share on other sites More sharing options...
rantnrave Posted April 20, 2017 Share Posted April 20, 2017 1 hour ago, AvoidDebt said: BNP Paribas Real Estate The research found London prices would rise by 6.8 per cent over the next four years, to £505,297 by 2021. https://www.estateagenttoday.co.uk/breaking-news/2017/4/housing-market-good-news-price-growth-over-10-by-end-2020 The bias in that headline is shocking - real tabloid stuff. EAToday has gone downhill rapidly since Ros Renshaw left to set up propertyindustryeye. Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted April 20, 2017 Share Posted April 20, 2017 Primary school entrance has been fixed for September 2017. Interesting, for some very popular schools, cachement distances have doubled. The only logical conclusion is that the stamp duty rises have killed the economic argument of moving closer to State schools. http://www.nappyvalleynet.com/mums/viewtopic.php?f=54&t=87624&start=15 Quote Link to comment Share on other sites More sharing options...
Chrippie Posted April 20, 2017 Share Posted April 20, 2017 3 hours ago, fru-gal said: Wow, Notting Hill rents have fallen by 11% according to that chart. One thing to bear in mind when looking at changes from peak in PCL is that according to a couple of friends of mine (one EA, one a buying agent) a lot of deals are being done where the seller pays the stamp duty. So 6% change becomes more like 15-20% from the buyers perspective depending on the stamp duty rate. Its a full on crash at this point. No question. Quote Link to comment Share on other sites More sharing options...
Tapori Posted April 21, 2017 Share Posted April 21, 2017 11 hours ago, Chrippie said: One thing to bear in mind when looking at changes from peak in PCL is that according to a couple of friends of mine (one EA, one a buying agent) a lot of deals are being done where the seller pays the stamp duty. So 6% change becomes more like 15-20% from the buyers perspective depending on the stamp duty rate. Its a full on crash at this point. No question. Startling. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 21, 2017 Share Posted April 21, 2017 10 hours ago, Chrippie said: One thing to bear in mind when looking at changes from peak in PCL is that according to a couple of friends of mine (one EA, one a buying agent) a lot of deals are being done where the seller pays the stamp duty. So 6% change becomes more like 15-20% from the buyers perspective depending on the stamp duty rate. Its a full on crash at this point. No question. A bit like the new build scammers. I reported 18 months or so ago of a lady I know that bought a new build and the price listed was NOT the price she paid....not anywhere close. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 21, 2017 Share Posted April 21, 2017 16 hours ago, Peter Hun said: Primary school entrance has been fixed for September 2017. Interesting, for some very popular schools, cachement distances have doubled. The only logical conclusion is that the stamp duty rises have killed the economic argument of moving closer to State schools. http://www.nappyvalleynet.com/mums/viewtopic.php?f=54&t=87624&start=15 I see idiots paying fortunes for houses in Northampton to send their kids to the "best" school. Where as I've saved the money and will be sending my children to a good school free from childrens who's parents clearly can't add up. Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted April 21, 2017 Share Posted April 21, 2017 Average terraced house price in SW11 is 1.2, 1.4 next to the good schools. Stamp duty £65-80K So 12-14K/year private schooling is a better deal, especially as no one has £80k cash to pay stamp duty. Quote Link to comment Share on other sites More sharing options...
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