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TheCountOfNowhere

London Mansion Prices Fall From Belgravia To St. James's

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http://www.bloomberg.com/news/articles/2016-01-06/london-mansion-prices-fall-from-belgravia-to-st-james-s

SW1 had the biggest slump in sale prices in London during the period, according to an analysis of preliminary Land Registry data by Bloomberg. The median sale price in the postcode fell to about £928,000 ($1.36 million) in November and the number of homes sold fell almost 75 percent to 15.

London Prices Fall From Belgravia to St James's http://bloom.bg/1ZNkf1W via @business Median home sale price in SW1 -20% on 75% volume fall

Edited by TheCountOfNowhere

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Russian buyers down by about 50% but slight increase in Chines buyers. What really is going to be the fallout from all the chaos in China? Will Chinese buyers evaporate due to losses or increase seeking safe haven for they dosh?

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Very interesting that prices AND volumes fell - it suggests prices have much further to go.

A very small sample, but then so is a canary in a coal mine...

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What really is going to be the fallout from all the chaos in China? Will Chinese buyers evaporate due to losses or increase seeking safe haven for they dosh?

This is what I wonder, too. Could go either way I reckon - interested to hear if someone has a strong argument for one or the other.

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This is what I wonder, too. Could go either way I reckon - interested to hear if someone has a strong argument for one or the other.

]

Yeah...me

There are no foreign buyers...it's made up marketting bulls**t

:lol::lol::lol::lol:

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Guest

Russian buyers down by about 50% but slight increase in Chines buyers. What really is going to be the fallout from all the chaos in China? Will Chinese buyers evaporate due to losses or increase seeking safe haven for they dosh?

I wonder if the Chinese have any dosh after their stock market tanked. Also the government there is extending the ban on large sales of shares...

Edited by Guest

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]

Yeah...me

There are no foreign buyers...it's made up marketting bulls**t

:lol::lol::lol::lol:

I guess you would have to be pretty poorly informed to think London property will be a safe haven in the next couple of years.

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This is what I wonder, too. Could go either way I reckon - interested to hear if someone has a strong argument for one or the other.

The loss of volume is the key thing here.60 is a decent size sample for a postcode,15 most definitely isn't.

Problem for Chinese buyers is weakening yuan obviously unless they've already offshored.

Edited by Sancho Panza

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The loss of volume is the key thing here.60 is a decent size sample for a postcode,15 most definitely isn't.

Problem for Chinese buyers is weakening yuan obviously unless they've already offshored.

Volumes detached from price around the time of HTB ( and FLS pre-election splurge )....at some point they are going to meet up again and the more volumes fall the more prices will eventually.

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Problem for Chinese buyers is weakening yuan obviously unless they've already offshored.

I think that's the conundrum. Buyer power down with weakening yuan and falling stockmarket, so maybe less available funds - countered with any offshore investment being more appealing as a store of wealth in those circumstances. One may balance the other, or one may overwhelm the other.

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Without wishing to be set upon as a Troll by the noble Count, it's worth pointing out that a drop in the median transacted price can happen if the fall in the number of higher value transactions is greater than the fall in the number of lower value ones. Actual price falls are more recent than the year to date. The crash is only just getting going.

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Without wishing to be set upon as a Troll by the noble Count, it's worth pointing out that a drop in the median transacted price can happen if the fall in the number of higher value transactions is greater than the fall in the number of lower value ones. Actual price falls are more recent than the year to date. The crash is only just getting going.

While this may be true, it is good to be having pro HPC headlines in the MSM. When the MSM report the glories of HPI forever, I don't think that they are concerned with the finer details of the underlying data. What's good for the Goose is good for the Gander as they say.

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Without wishing to be set upon as a Troll by the noble Count, it's worth pointing out that a drop in the median transacted price can happen if the fall in the number of higher value transactions is greater than the fall in the number of lower value ones. Actual price falls are more recent than the year to date. The crash is only just getting going.

That's uncalled for and makes me think you are a troll :P:P:P

Cant disagree with what you say mind. This party is only just getting warmed up, there's s**t starting to fly from all 4 corners of the room.

Edited by TheCountOfNowhere

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@noble Count

CRASH CANCELLED!

The property buying scrum is back! House hunters battle it out with 10 buyers for every property for sale as New Year frenzy begins...

BUT Folks!

Don't panic, Don't panic, Don't panic...the headline is by the ONE and ONLY GREEDY F$£#*G National Association of Estate A****s! :P :lol:

THEY MUST BE SH*TTING THEMSELVES TO PUT THIS CRAP OUT! :o


Read more: http://www.dailymail.co.uk/property/article-3383633/House-hunters-battle-10-buyers-property-sale.html#ixzz3wTdjufcM

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@noble Count

CRASH CANCELLED!

The property buying scrum is back! House hunters battle it out with 10 buyers for every property for sale as New Year frenzy begins...

BUT Folks!

Don't panic, Don't panic, Don't panic...the headline is by the ONE and ONLY GREEDY F$£#*G National Association of Estate A****s! :P :lol:

THEY MUST BE SH*TTING THEMSELVES TO PUT THIS CRAP OUT! :o

Read more: http://www.dailymail.co.uk/property/article-3383633/House-hunters-battle-10-buyers-property-sale.html#ixzz3wTdjufcM

Correction, that really is for London, are they havign a f**king laugh ?

Edited by TheCountOfNowhere

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"I want to see it, but it's not going to happen."

HAHAHAHAHAHA :lol:

Indeed

It happened in prime city centres in the regions, and Dublin, 50%++

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I know a guy who just sold a flat in se15 bought in 09/10 for 150K for 450 today. Even at a 50% crash, that would still be 75K profit.

I want to see it, but it's not going to happen.

But its going to crash by 60% to get back to fair value. Thats would be a 30k nominal increase not factoring in costs. That sounds more like a sustainable reality.

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Who says it's going to crash? It could rise another 50% by then. Never underestimate what the powers will do to keep the plates spinning.

We all form an opinion based on the available info. Mine is that it will crash and from where we are now 60% would be a correction.

I do not underestimate the plate spinning abilities of tptb. however I think even they would welcome a correction now and will do little if faced with a correction.

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@noble Count

CRASH CANCELLED!

The property buying scrum is back! House hunters battle it out with 10 buyers for every property for sale as New Year frenzy begins...

BUT Folks!

Don't panic, Don't panic, Don't panic...the headline is by the ONE and ONLY GREEDY F$£#*G National Association of Estate A****s! :P :lol:

THEY MUST BE SH*TTING THEMSELVES TO PUT THIS CRAP OUT! :o

Read more: http://www.dailymail.co.uk/property/article-3383633/House-hunters-battle-10-buyers-property-sale.html#ixzz3wTdjufcM

It comes just days after it warned house prices will soar 50 per cent to an average of £420,000 within 10 years.

Notwithstanding the word "within", I don't classify 4.14% per annum as "soaring".

"Almost keeping up with predicted wage inflation", perhaps.

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