Is Prime London Crashing? - Merged Threads

[Fairyland]

23 minutes ago, rollover said:

Hundreds of new shared-ownership flats hit south-west London hipster hotspot - with prices starting from £85k

One-bedroom flats at Electric Quarter start at £85,000 for a 25 per cent share. As well as mortgage repayments, buyers will pay £539.06 a month rent, and £145.61 service charge.

Two-bedroom flats start at £102,500 for a 25 per cent share, and rent on these larger homes will be £640.63 a month. The same monthly service charge applies.

The flats are all about light, with dual-aspect living rooms and floor-to-ceiling windows. ES

 

 

Good news  bit I still think £340K for a one bed flat in Brixton is bit expensive.

[the_duke_of_hazzard]

It's not even 'nice' brixton. That area is rough as a tub of guts.

[winkie]

Some people can be sold anything......do people question nothing?

[Upabove]

9 hours ago, rollover said:

Hundreds of new shared-ownership flats hit south-west London hipster hotspot - with prices starting from £85k

One-bedroom flats at Electric Quarter start at £85,000 for a 25 per cent share. As well as mortgage repayments, buyers will pay £539.06 a month rent, and £145.61 service charge.

Two-bedroom flats start at £102,500 for a 25 per cent share, and rent on these larger homes will be £640.63 a month. The same monthly service charge applies.

The flats are all about light, with dual-aspect living rooms and floor-to-ceiling windows. ES

 

 

I did actually look into these flats.  However then did some police shifts in the area, Jesus Christ, you need to pay me to live there.

[thisisthisitmaybe]

On 7/2/2017 at 5:54 PM, Tapori said:

Key are the chains stuck in limbo due to desperately low transactions. In addition, my 3 EA sources being trained to talk sellers into lowering prices to get that sale through.

The worm has turned; and we couldn't be happier.

Are they supplying the EAs with knife-proof vests? 

[Tapori]

9 hours ago, thisisthisitmaybe said:

Are they supplying the EAs with knife-proof vests? 

 - They should, but with so many EAs floundering without sales commission, it's a risk they'll simply have to take!

They gave the kite flying prices; It's only fair the EAs give the crashy prices too.

In more anecdotal, rents falling a fraction in key areas of hipsterdom but not a full scale crash yet. The ball is rolling nicely now. Simmering.

[TheCountOfNowhere]

On 07/07/2017 at 1:42 PM, Fairyland said:

Good news  bit I still think £340K for a one bed flat in Brixton is bit expensive.

A bit?

 

290k too much

[maverick73]

1 hour ago, TheCountOfNowhere said:

A bit?

 

290k too much

In 2001 I bought a three bedroom ex-council flat in Woodford green for 131k. So why should a small newly built one bedroom flat be worth £300k is beyond logic.

[Frizzers]

On 7/6/2017 at 6:56 PM, Patient London FTB said:

 

Edited July 9, 2017 by Frizzers

[Frizzers]

On 7/6/2017 at 6:56 PM, Patient London FTB said:

Oof, it's looking ugly for Team @Frizzers with a studs-up move today from Team @SOLZHENITSYN. 

Gaywood Street, having until now been content to match Gladstone Street on price, has just undercut it by £25,000. 

Gladstone had sped up the tempo with a £1,250,000 > £1,175,000 > £1,125,000 move in June after taking the field in March. 

But Gaywood is mounting a breakaway with a swift £1,250,000 > £1,175,000 > £1,100,000 combo after joining the game in May. 

 

Haha

 

Classic bear market, race to the bottom action in its purest form

[Frizzers]

On 7/6/2017 at 6:56 PM, Patient London FTB said:

 

Edited July 9, 2017 by Frizzers

[Frizzers]

Thank god I'm not running the stock market with the amount of fat finger that's going on

[B63]

Fund Manager Shorts U.K. Property Firms, Prefers Spanish Rivals

https://www.bloomberg.com/news/articles/2017-07-11/bluecrest-fund-manager-shorting-u-k-property-tips-spanish-peers

[Rave]

I do fancy a little punt on shorting BKG over a timescale of a year or so. How would I go about it as a small scale private investor? I'd like to just put down, say, a £500 punt on them being 30% down this time next year, with the potential to lose it all but no extra risk if they go up. Can I buy put options somehow? Don't want to get stopped out of a spreadbet.

[stuckmojo]

37 minutes ago, Rave said:

I do fancy a little punt on shorting BKG over a timescale of a year or so. How would I go about it as a small scale private investor? I'd like to just put down, say, a £500 punt on them being 30% down this time next year, with the potential to lose it all but no extra risk if they go up. Can I buy put options somehow? Don't want to get stopped out of a spreadbet.

Interested too

[Tapori]

11 hours ago, stuckmojo said:

Interested too

Can we have a thread about how to invest in shorting stocks and cash-in during a HPC on these high and mighty twats?

Edited July 11, 2017 by Tapori

[darkmarket]

19 hours ago, Rave said:

I do fancy a little punt on shorting BKG over a timescale of a year or so. How would I go about it as a small scale private investor? I'd like to just put down, say, a £500 punt on them being 30% down this time next year, with the potential to lose it all but no extra risk if they go up. Can I buy put options somehow? Don't want to get stopped out of a spreadbet.

I don't think you'll find single-stock options for those amounts, but you can short via a CFD.

If you sell 250 shares today at 3257 the maintenance margin is just shy of £500, and you can cover each 1% move up with a market stop around £80 above. So your £500 covers around 6% and provides space for a reasonable stop that won't lead to unexpected losses. You could also hedge it with a small call option on the index. iShares have a UK property ETF you could similarly short with a hedge on the index for a more diversified approach too.

[the_duke_of_hazzard]

On 7/6/2017 at 6:56 PM, Patient London FTB said:

Oof, it's looking ugly for Team @Frizzers with a studs-up move today from Team @SOLZHENITSYN. 

Gaywood Street, having until now been content to match Gladstone Street on price, has just undercut it by £25,000. 

Gladstone had sped up the tempo with a £1,250,000 > £1,175,000 > £1,125,000 move in June after taking the field in March. 

But Gaywood is mounting a breakaway with a swift £1,250,000 > £1,175,000 > £1,100,000 combo after joining the game in May. 

 

http://www.rightmove.co.uk/property-for-sale/property-48479493.html

Gaywood street is under offer.

[Patient London FTB]

1 hour ago, the_duke_of_hazzard said:

http://www.rightmove.co.uk/property-for-sale/property-48479493.html

Gaywood street is under offer.

Good spot. Worth mentioning that inventory around that area is climbing. I've being pulling numbers off Rightmove since early 2016 and haven't seen this many properties for sale before. Nothing seismic, and the total's only just above where it was this time last year, but it's been building up since early March. 

[Rave]

8 hours ago, darkmarket said:

I don't think you'll find single-stock options for those amounts, but you can short via a CFD.

If you sell 250 shares today at 3257 the maintenance margin is just shy of £500, and you can cover each 1% move up with a market stop around £80 above. So your £500 covers around 6% and provides space for a reasonable stop that won't lead to unexpected losses. You could also hedge it with a small call option on the index. iShares have a UK property ETF you could similarly short with a hedge on the index for a more diversified approach too.

Thanks very much!

[LondonMoose]

Yet another anecdotal example of London rents going down.

I've just negotiated a £50 decrease from £1450 to £1400 for my modern but not luxurious 1-bed in Kennington. 

This kind of situation was unimaginable when I first moved to London a few years ago. You had to fight to secure a good viewing and prices just kept going up. 

 

[TheCountOfNowhere]

House prices up just 0.5% this year... with falls in 10 boroughs

http://www.standard.co.uk/news/london/house-prices-up-just-05-this-year-with-falls-in-five-boroughs-a3590286.html

 

Zoopla’s figures show Wandsworth suffered the biggest fall in values with a drop of more than three per cent, from about £797,000 to £769,000.

 

and:

House prices continue to stall with fears a 'fresh slowdown in London could be under way'

http://www.telegraph.co.uk/property/house-prices/house-prices-continue-stall-fears-fresh-slowdown-london-could/

 

By slowdown, I think they mean COLLAPSE.

 

Read the comments, they are comical.  Some desperate people out there.

 

Edited July 19, 2017 by TheCountOfNowhere

[suresh786]

the HPI from the www.gov.uk were out on 18th July,

https://www.gov.uk/government/statistical-data-sets/uk-house-price-index-data-downloads-may-2017?utm_medium=GOV.UK&utm_source=england&utm_campaign=section8&utm_term=9.30_18_07_17&utm_content=download_data

City of London, monthly change -2.43%

Barking & dagneham, monthly change 0.164%

Newham borough, monthly change -1.1089%

you can check the others on the link above provided.

 

[suresh786]

further to above

the islington 0.23%

kensington & chelsea the change 6.01%

southwark 0.465%

[anonlymouse]

Annecdotal but neither a colleague who is selling in Barnes (SW13), nor a client who is selling in Richmond (SW14) are having any luck with viewings - one per month at the current rate. Both houses on for £1m+Chat in the office is about the evaporation of foreign buyers (Chinese and Russians change their mind about where to buy overnight apparently) and the 'landlord tax changes'. "It's a buyers market out there" and "It's not an investment any more" are the choice quotes.