Jump to content
House Price Crash Forum

London Bubble Wave Confirmed In Land Reg Report


Recommended Posts

0
HOLA441
1
HOLA442
Guest BillyNI

Annual price increases:

Luton up 19%

Milton Keynes up 10%

Reading up 15%

Slough up 22%

Wokingham up 14%

...

Full report: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/519058/March_HPI_2016.pdf

That is a list of places with % I'd least want to live there. How off that the higher ones are the worst ones. Lower starting prices?

Link to comment
Share on other sites

2
HOLA443
3
HOLA444
4
HOLA445

Annual price increases:

Luton up 19%

Milton Keynes up 10%

Reading up 15%

Slough up 22%

Wokingham up 14%

...

Full report: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/519058/March_HPI_2016.pdf

As I have posted many times Luton is nuts right now ..massive campaigning to show how close it is to London helping to ramp it up

https://www.thinkluton.co.uk/

Anecdotal friend of a friend brought 2 bed flat 2008 110% IO 110k just sold for 180k , was offered 175 which he accepted only for the EA to go back to buyer and tell them the seller had changed mind wanted full price which they instantly agreed ...not all good news for him as same happen to him he offered 315 on a 3bed house was told someone offered 320 so he again just agreed ...

I was looking to buy here but given up as not prepared to spend 200k plus on a crummy 2 bed house

Link to comment
Share on other sites

5
HOLA446

Annual price increases:

Luton up 19%

Milton Keynes up 10%

Reading up 15%

Slough up 22%

Wokingham up 14%

...

Full report: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/519058/March_HPI_2016.pdf

Yep, and you know what? When a crash happens, it'll be like a 20% drop, but then prices will climb again. In other words, UK property prices are designed to stretch finances to the max for FTBs. It will always be this way. Wanna buy in the UK? Then be prepared to take on 6 figures of borrowing. It will always be the case.

Edit: OR, just rent forever.

Edit 2: OR rent for a bit, then emigrate.

There is no 4th choice of waiting for a crash that creates affordable housing.

Edited by canbuywontbuy
Link to comment
Share on other sites

6
HOLA447

Yep, and you know what? When a crash happens, it'll be like a 20% drop, but then prices will climb again. In other words, UK property prices are designed to stretch finances to the max for FTBs. It will always be this way. Wanna buy in the UK? Then be prepared to take on 6 figures of borrowing. It will always be the case.

Edit: OR, just rent forever.

Edit 2: OR rent for a bit, then emigrate.

There is no 4th choice of waiting for a crash that creates affordable housing.

Yes that is the conclusion I came to, if a crash happens then all the frustrated locked out will be back in the market, they will then be bidding against each other and the prices will go back up.

The only thing which will ever bring prices back to normality is a mass building project like after ww2, but there seems little interest in this happening and everywhere they try to build they are met with groups of people waving banners.

They have yet to resort to the 99 year mortgages, I think that will happen at some point here, the other problem being people have replaced the word afford with get.

Link to comment
Share on other sites

7
HOLA448
8
HOLA449

Yes that is the conclusion I came to, if a crash happens then all the frustrated locked out will be back in the market, they will then be bidding against each other and the prices will go back up.

Not this again...

All of what you say is based on the current market conditions i.e people can get mortgages; history tells us this is the key driver in house price inflation / deflation - i.e. when people cannot get a mortgage then prices will need to fall and keep falling until they can. If the credit markets dry up, no amount of "pent up demand" will work.

Link to comment
Share on other sites

9
HOLA4410

Not this again...

All of what you say is based on the current market conditions i.e people can get mortgages; history tells us this is the key driver in house price inflation / deflation - i.e. when people cannot get a mortgage then prices will need to fall and keep falling until they can. If the credit markets dry up, no amount of "pent up demand" will work.

Correct which is why I mention the 99 year mortgage and the fact that people no longer look at affordability it is just whether they can get one.

It is not just the current market, it is this countries obsession with property and the attitude towards it as well, I believe people will want to buy regardless of how crazy it is to do that.

Link to comment
Share on other sites

10
HOLA4411

That is a list of places with % I'd least want to live there. How off that the higher ones are the worst ones. Lower starting prices?

A point very well made...I guess you can get some absolutely dream places in rural NI for peanuts. Meanwhile in the UK we pay the most for the shittiest spots. In the E. midlands the hotspots are Leicester, Nottingham and Derby with the very nice rural surroundings becalmed HPI wise...and have been for the best part of 12 years.

This is all good news if you don't need a job.

Just a few points.......

(1) Public setor and quasi public sector jobs causes local rises most especially County Halls, County Hospitals and Universities......these employees are the new rich.

(3) People pay a premium to live in crap areas because the salaries are the highest and they spawn BTL with a ready supply of immigration and students.

(3) The Gaza strip is one of the most expensive bits of real estate on the planet...war torn and shit but has all the ingredients.

Edited by crashmonitor
Link to comment
Share on other sites

11
HOLA4412

(3) The Gaza strip is one of the most expensive bits of real estate on the planet...war torn and shit but has all the ingredients.

I saw an Al Jazeera documentary on the housing situation in Gaza a couple of years ago. A couple were looking at a 2 bed flat which had increased from $15k to $20k.
Link to comment
Share on other sites

12
HOLA4413
13
HOLA4414

Well the average house price is £500,000+ in London - what level of crash are we talking about? A 20 or 25% crash wouldn't be enough for most people. I just think it's too much HPI to unwind to get back to affordable levels.

Is it a tribal thing that folk have to stay in London...seriously what's so bad about somewhere like Derbyshire....it aint grim...Luton is grim. Actually voted the most beautiful place in the UK.

http://cdni.condenast.co.uk/646x430/o_r/peakdistrict_cnt_19nov09_iStock_b_1.jpg

Edited by crashmonitor
Link to comment
Share on other sites

14
HOLA4415

Well the average house price is £500,000+ in London - what level of crash are we talking about? A 20 or 25% crash wouldn't be enough for most people. I just think it's too much HPI to unwind to get back to affordable levels.

That sounds like you think that the people messing about with the levers can choose to unwind a little, a lot, or not at all, and then press a button ("Print" maybe?) they have managed to spin the plates up til now, but many commentators now saying things like "CB policy has run out of road" etc. When something big pops in the financial system, and it will, the HPI will unwind like a kite in the wind. See Aberdeen for what happens when the money evaporates.

Link to comment
Share on other sites

15
HOLA4416
16
HOLA4417

Last places to rise, first to fall?

Usually when the hot money starts going to places like Luton and Slough, it means everywhere else has reached peak unaffordability and the bubble is about to pop. Its what seemed to happen last time round, anyway.

Yeah and look what happened since that last pop!

Link to comment
Share on other sites

17
HOLA4418

Last places to rise, first to fall?

Usually when the hot money starts going to places like Luton and Slough, it means everywhere else has reached peak unaffordability and the bubble is about to pop. Its what seemed to happen last time round, anyway.

Well it got a hell of a lot further than Slough...the entire country in fact and by +200% to boot. And the biggest winners were places like Blackburn, Burnley and Stoke. But you are right, they crashed the most too and are still sub peak by some way.

If the HPI cancer does stop now then Cambridge would be carnage. Crashes have generally hit East Anglia and bordering counties substantially too.

Link to comment
Share on other sites

18
HOLA4419
19
HOLA4420

I don't believe some things written in this thread,

The system is fundamentally floored and has reached its peak.

The banks are bankrupt, the only thing keeping them going was uncontrolled BTL lending.

That is now dead, we have MMR and basically very few buyers in a market that can only expand from here on. Just let it play out, the numbers don't lie.

Link to comment
Share on other sites

20
HOLA4421
21
HOLA4422

Is it a tribal thing that folk have to stay in London...seriously what's so bad about somewhere like Derbyshire....it aint grim...Luton is grim. Actually voted the most beautiful place in the UK.

http://cdni.condenast.co.uk/646x430/o_r/peakdistrict_cnt_19nov09_iStock_b_1.jpg

..we need to move Parliament out of London..it currently creates the the Londoncentric imbalance in the UK ..somewhere central like Leeds or York or a custom built new town ...Australia has Canberra, Brazil - Brasilia, Nigeria - Abuja, US - Washington, Canada - Ottawa ...why don't we move .?..bit late as they have already booked a temp residence while the old building is repaired...... :rolleyes:

Link to comment
Share on other sites

22
HOLA4423
23
HOLA4424
24
HOLA4425

..we need to move Parliament out of London..it currently creates the the Londoncentric imbalance in the UK ..somewhere central like Leeds or York or a custom built new town ...Australia has Canberra, Brazil - Brasilia, Nigeria - Abuja, US - Washington, Canada - Ottawa ...why don't we move .?..bit late as they have already booked a temp residence while the old building is repaired...... :rolleyes:

Leeds or York are not central, Birmingham, Leicester and Milton Keynes are more so. But just moving parley-a-mental wouldn't persuade businesses to move, just the 'special interests' whose job is to lobby politicians.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information