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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

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39 minutes ago, deadlyavenger said:

Possibly worthy of its own thread!

https://www.theguardian.com/business/2018/oct/31/brutalist-market-flats-at-londons-centre-point-taken-off-market

"Half of tower’s 82 luxury flats remain unsold as Brexit jitters and tax rises bring ‘silly offers’" - Lolz! They're overpriced you moron!!!

"More than half of the 1,900 ultra-luxury apartments built in London last year failed to sell, adding to fears that the capital would be left with dozens of “posh ghost towers”. The swanky £1m-plus flats, complete with private gyms, swimming pools and cinema rooms, are lying empty as hundreds of thousands of would-be first-time buyers struggle to find an affordable home."

Just seen this, and it is a hilarious read. They're not entertaining cheeky offers, you know.

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17 minutes ago, Captain Kirk said:

£1000 a week on £1.8m equates to a 2.89% yield. And that is gross, doesn't account for service charges and assumes no voids.

You can get the same yield by leaving your cash in savings or bonds and no downside risk.

Agents are easily amazed it seems..

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1 hour ago, deadlyavenger said:

Possibly worthy of its own thread!

https://www.theguardian.com/business/2018/oct/31/brutalist-market-flats-at-londons-centre-point-taken-off-market

"Half of tower’s 82 luxury flats remain unsold as Brexit jitters and tax rises bring ‘silly offers’" - Lolz! They're overpriced you moron!!!

"More than half of the 1,900 ultra-luxury apartments built in London last year failed to sell, adding to fears that the capital would be left with dozens of “posh ghost towers”. The swanky £1m-plus flats, complete with private gyms, swimming pools and cinema rooms, are lying empty as hundreds of thousands of would-be first-time buyers struggle to find an affordable home."

Super find. 

I blame the first time buyers for spending money on iPhones and don’t make their own sandwiches. 

In my day I never had a phone and did pack ups for work....bought my first house at 18. 

Okay it wasn’t £1.8m it was £28k but it’s sort of exactly the same thing. (Irony alert). 

An aside, Up in the North (nice park of Yorkshire Dales) we are seeing some massive variance on prices. Central town house just gone for £1.3m all done...even mentioned ‘London style’. To be fair it was big, beautifully decorated and location was stunning....but AT LEAST double the price paid for one up the road which needed TLC. Oh dear, some real targeting of ex London buyers and I can hear a ‘pop’ coming down south....followed by another up here on those careless purchases.

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2 minutes ago, deadlyavenger said:

I'm might ring them up and offer £250k which is about right for a PCL one bedder. That's not too cheeky is it?

There is no such thing as a cheeky offer. Do it.

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Thing is why are they so delusional about this still?? They are clearly priced too high and/or there is less demand for these kinds of flats (at these prices)

Also is the developer (Almacantar) flush with so much cash that they can afford not to sell these 40 odd flats? Is this the case for a lot of the PCL developers?

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10 minutes ago, deadlyavenger said:

Thing is why are they so delusional about this still?? They are clearly priced too high and/or there is less demand for these kinds of flats (at these prices)

Also is the developer (Almacantar) flush with so much cash that they can afford not to sell these 40 odd flats? Is this the case for a lot of the PCL developers?

In the article they claim that they have broken even from sales and renting the commercial space on the ground floor, so will just wait until people come to their senses and pay asking prices *roll eyes*

 

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1 hour ago, deadlyavenger said:

Thing is why are they so delusional about this still?? They are clearly priced too high and/or there is less demand for these kinds of flats (at these prices)

Also is the developer (Almacantar) flush with so much cash that they can afford not to sell these 40 odd flats? Is this the case for a lot of the PCL developers?

Our Company

Almacantar is a property investment and development company. We specialise in large-scale, complex investments in Central London, with the potential to create long-term value through development, repositioning or active asset management.

 

Since we launched in 2010 we have acquired over 1.5 million sq. ft. of prime assets in the heart of London including; Centre Point, Marble Arch Place, CAA House, One and Two Southbank Place, Lyons Place and 125 Shaftesbury Avenue.

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I was in London for "work" yesterday and thought I'd pick up one of those free "NEWS"papers to see what the plebs are being told to think these days.

 

skimmed through a load of nonsense to the "property" section and was astounded to learn house prices are going to bounce back 23% after Brexit. says an "expert"

 

 

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19 hours ago, thewig said:

I was in London for "work" yesterday and thought I'd pick up one of those free "NEWS"papers to see what the plebs are being told to think these days.

 

skimmed through a load of nonsense to the "property" section and was astounded to learn house prices are going to bounce back 23% after Brexit. says an "expert"

 

 

Ah yes, George Osbourne's mass rag

"The Evening Standard"

Each week a focus on a new area and an interview with a celebrity about housing and how they "got on the ladder"

Still, sometimes they sneak through some truth. Rarely.

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4 hours ago, Tapori said:

Ah yes, George Osbourne's mass rag

"The Evening Standard"

Each week a focus on a new area and an interview with a celebrity about housing and how they "got on the ladder"

Still, sometimes they sneak through some truth. Rarely.

George seems to hate the conservatives more than Khan

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  • 433 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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