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The Apprentice - 02 Dec - London Property

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Posted this on the London crashing thread. However thought many would be interested to watch it. Even if you think the Apprentice is a pile of nonsense - its quite eye opening into the recent sales frenzy.

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Posted this on the London crashing thread. However thought many would be interested to watch it. Even if you think the Apprentice is a pile of nonsense - its quite eye opening into the recent sales frenzy.

Tiny, tiny, poorly laid out flats in bad areas being sold to Asian families.

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I watched this last night, brings to life the out of control London property market. That one guy spending 1.4m on a flat in Canary Wharf without seeing the property, dimensions, floor plans etc., just madness to me.

Also, 350k for a one bed flat looking out onto another concrete wall….

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Madness. Quick look around and handshaking and signing contracts on super high priced property.

Anyway I'll leave it to others to go into breakdown-mode for these buyers into HPC.

~ Can I get 1% off the price?

~ No.

~ At least I can say I tried.

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isn't sugar sweet on property?

more BBC ramping.

it's just silly now.

had a look at Northants again today.

now seeing 3 bed terraces up for 250k.

these house should be less than half that. there is going to be one almighty collapse.

if houses are twice the price for half the floor space it is looking increasingly likely a 75% drop is possible.

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isn't sugar sweet on property?

he is a pwopperdy dweveloper but he did say he hated estate agents - maybe he has to say that to make sure St Peter (or whomever given he's Jewish) lets him into paradise :-).

The program was astounding, well worth a watch to see people handing over lots of cash for drawings on the back of envelopes.

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Southwark Tower old Natwest Tower by Seifert of Centre Point fame (not before time similar central London offices were turned into flats).

Apprentices being used as free sales people for EAs :lol:

Edited by billybong

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Asian families generally when new to the country worked extremely hard, working for themselves in their own small businesses....think of the corner shop, they on the whole saved and invested responsibly.......then they realised their home made more money for them than their business did so invested in a BTL for each of their children.....helping them to a future foot on the ladder..... also investing in discipline, financial discipline and education, the minority in a foreign land (bit like women ) will always have to put more in to get the same out.......wake me up when a SME business where hours of hard work and long hours makes more than a leveraged property both in income and growth.....till then we imo are pants. ;)

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'My husband will kill me'

:wacko:

This statement usually accompanies ridiculous shoe purchases,not flats.

My guess for that one was she planned to rent it out. Savvy savvy pension forever hpier. Take on the bankers balance sheet risk for HPC.

At least one person was asking about the yield.

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Tiny, tiny, poorly laid out flats in bad areas being sold to Asian families.

Did you write the synopsis for the BBC ? :D

he is a pwopperdy dweveloper but he did say he hated estate agents - maybe he has to say that to make sure St Peter (or whomever given he's Jewish) lets him into paradise :-).

The program was astounding, well worth a watch to see people handing over lots of cash for drawings on the back of envelopes.

I cant remember if they actually bought the back of an envelope one. Either way the fact they didnt run out the door straight away says it all.

My guess for that one was she planned to rent it out. Savvy savvy pension forever hpier. Take on the bankers balance sheet risk for HPC.

At least one person was asking about the yield.

I reckon that one was a plant.

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Had to laugh when Brady said both firms wanted them. I thought yeh, they would make perfect estate agents

Kudos to the guy that walked out. Should have punched Sugar. Stuff your "investment " basically.

Edited by RentierParadisio

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It would have made good telly if he'd said something like "the flats are pokey rubbish anyway" when he left - but the bbc would never have broadcast it.

Edited by billybong

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I reckon that one was a plant.

--

They've not been building and selling these places to nobody. It has happened, buyers have gone in, quick look at plans, and put their deposit down, just like on that show last night.

I kind of view BTL's as a kind of voluntary army for the Banking Industry, giving plenty of their spare time (they have forgotten you only get to live on planet earth once) to collect funds and deliver it to the banks with a smile on their faces. But they take all the risks and get a few crumbs in return, which are getting fewer and fewer by every GO statement. They have however gone to bed at night and had lovely dreams about all their on paper profits. But what's this, whoops this sweet dream unproductive and parasitic is quickly turning into a nightmare...... Thankfully.

Some have had a lot more than dreams out of it. I know other hpcers who claim all this about them being only bankers stooges, but there are quite a few BLTers who've mewed £1m cash out of it, and lived the high live... so I refuse to feel sorry for them as a group as victims, and it's just 'the big bad banks'. Nonsense and another pathetic excuse-front.

It's hard for some honest/good people to accept other people are very greedy and they want to cast it on something else (the banks etc).

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Had to laugh when Brady said both firms wanted them. I thought yeh, they would make perfect estate agents

Kudos to the guy that walked out. Should have punched Sugar. Stuff your "investment " basically.

Yes that was cool. I wondered if he was muslim and didn`t appreciated the way a couple of members of the pseudo aristocracy were talking to him. He came over even better in the after show on BBC2. The blonde burd who was fired didn't bother turning up.

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I was pretty concerned watching the show (when would this have been filmed does anybody know?), it demonstrated that the market is still...well, absolutely crazy. I think people are being brainwashed into thinking £350k or £400k on a flat in London is "value", we're pushing into 15-20 times the national average salary for the bottom end properties, properties not even worthy of being called "starter homes"! It seems we're still in the snap it up phase whatever the price.

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Not going to watch this cr@p.

Blood pressure rising just reading this thread :D sounds like the vile BBC up to their usual tricks with their despicable shame propaganda.

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At the start of the programme, the taxi comes round to their accommodation early but it's still very bright outside. I reckon that makes this filmed in June or early July.

Edited by rantnrave

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The property-EA show was episode 9, and they did the Discount Store selling in Manchester in episode 7.

The Manc.Evening News clocked them there on 22 May 2015.

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/bbcs-apprentice-filming-manchester-yes-9313895

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Guest

My wife watches this show on iplayer, and watched this episode last night. I cant tell if the buyers were real or not... if they were it is indeed shocking how easily people can commit this much money to such tat.

An old bank office block near me has been converted into appartments....

http://www.rightmove.co.uk/new-homes-for-sale/property-56258747.html

Half or a third of the price of the london ones, and they're still at least 100% over valued.

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My wife watches this show on iplayer, and watched this episode last night. I cant tell if the buyers were real or not... if they were it is indeed shocking how easily people can commit this much money to such tat.

An old bank office block near me has been converted into appartments....

http://www.rightmove.co.uk/new-homes-for-sale/property-56258747.html

Half or a third of the price of the london ones, and they're still at least 100% over valued.

The expression, "rabbit hutches" spring to mind......£350,000 for that???

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What's up with you??? There was a vase and twigs and the Boy George will even provide some of the cash.

Sorry, I do have this bad habit of forgetting that getting hopelessly into debt to buy overpriced property so that I'm forced to work myself to death to support "the recovery" is the sole purpose of being alive in 21st century Britain......

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