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juvenal

Duke Of Westminster Fears London Property Bubble Burst

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'I'm more concerned about it [high-end residential pricing] than I was last year,' said Grosvenor Group's Chief Executive Mark Preston, who previously called the rate of growth in London luxury house prices unsustainable.'It's very much a deliberate initiative on our part to capitalise on prices that we think are high,' he added yesterday as the private company released its annual report.

Necessary action following a deliberate initiative on the part of the government to pump up the existing property bubble for short term political gain.

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DM Quote: "The company - which is controlled by Gerard Grosvenor, one of Britain's richest men - says it is branching out from its traditional Mayfair and Belgravia turf, and targeting more affordable rental homes south of the river in Bermondsey".
... soon to be more unaffordable homes south of the river in Bermondsey then. What next, targeting more affordable homes in the Isle of Sheppey. I'd be more confident in the message here if Grosvenor were cashing out of property completely.

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Makes no sense...why would you buy back into a market that will be destroyed when the london bubble pops....unless of course he's waiting for the after math.

Who voted for this chap to be a duke ?

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Makes no sense...why would you buy back into a market that will be destroyed when the london bubble pops....unless of course he's waiting for the after math.

Who voted for this chap to be a duke ?

Would only seem logical if Grosvenor believe PCL has topped out, but there's still room to pump up the prices in the outer boroughs of London, and so on...

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Would only seem logical if Grosvenor believe PCL has topped out, but there's still room to pump up the prices in the outer boroughs of London, and so on...

They'd profit more from a crash. I think the, buying back in, thing is wishful thinking. They have cashed in....good call. If this isn't a warning sign for the masses then nothing will wake them up.

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They'd profit more from a crash. I think the, buying back in, thing is wishful thinking. They have cashed in....good call. If this isn't a warning sign for the masses then nothing will wake them up.

This is London centric once again. You must be talking about the London masses!

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Who voted for this chap to be a duke ?

King George III (the one that was as mad as a hatter!)......indirectly at least.

Edited by anonguest

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King George III (the one that was as mad as a hatter!)......indirectly at least.

I think some males in the Duke's distant family have married into very big money. The prime real estate in London came as dowry with a very young bride (Mary Davies, 13) in the 18th C. It was waste ground then, but became Mayfair, Park Lane, Belgravia etc.A large acreage of some of the most valuable land in the world.

Edited by juvenal

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The Duke (no not David Dickinson this time) might be concerned about the Russian/Ukraine situation and sanctions and "consequences".

After such a large expensive portfolio built up over centuries he would think it worse than awful for it to turn out to be "as cheap as chips".

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Edited by billybong

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Perhaps the Duke thinks it will soon, but he could be wrong, logic and reason are not in evidence the market should have tanked in 2007 but forces did not allow it and all available resources are being used to push it further up.

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