Jump to content
House Price Crash Forum
Sign in to follow this  
Si1

Wtf's going on? I thought London prices were crashing but now they're not or something?

Recommended Posts

1 minute ago, Bhoy said:

You probably need to provide a link to a news article or this post doesn't really make sense.

I think it's yesterday's Evening Standard - there's another thread

Gazumping is back apparently

Share this post


Link to post
Share on other sites
9 minutes ago, knock out johnny said:

I think it's yesterday's Evening Standard - there's another thread

Gazumping is back apparently

Indeed. My vagueness true. But there are definite ramping articles ahoy. See the lovely Isabelle Fraser's articles in the telegraph.

Share this post


Link to post
Share on other sites
10 minutes ago, knock out johnny said:

I think it's yesterday's Evening Standard - there's another thread

Gazumping is back apparently

Yep. Cherie's Blair was gazumped by Elon Musk's ex wife. She offered £200k more than Cherie on a circa £2.5 million pound property. Rich peoples problems...

Share this post


Link to post
Share on other sites

Ah. Spring bounce. I'm seeing this up north in Leeds in fact, know one couple suddenly decided over Christmas to buy.

Share this post


Link to post
Share on other sites

The only real issue you have to focus on in Londinium is transaction levels.For any change to current crash course,they need to lift 40% plus from where they were in Nov(Given potential delays it's sometimes 4 months before sales are registered but most are done in a month or two.)

Gazumping is normally symptomatic of a broad base of sales.

Using crash poster boy SW3 (which has been experiencing price drops since about mid 2014 iirc)Dec 16 ,19 sales

By comparison

Dec 11 26 sales,

Dec 12 36 sales,

Dec 13 38 sales,

Dec 14 23 sales

Dec 15 21 sales,

Prices can move rapidly in any given postcode if one big house goes through for a few million.DYOR etc

 

http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=OUTCODE^2516&searchLocation=SW3&referrer=landingPage&addGoogleTagManager=true

http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=OUTCODE^2516&searchLocation=SW3&referrer=landingPage&addGoogleTagManager=true

 

Edited by Sancho Panza

Share this post


Link to post
Share on other sites

Who cares what they are bought for.....It is what they are rented out for that counts.....Income is key, no income no high price value......;)

 

Share this post


Link to post
Share on other sites

Anybody thinking that UK property is going to nosedive...after this Brexit mess nosedived the currency...needs to get their head checked.

Especially in more desirable areas like London.

UK property looks great to those holding vast sums of currency in CNY, EUR, AED, SAR, USD, INR, RUB, just to name a few.... so much more purchase for these currencies in less than a year!

Share this post


Link to post
Share on other sites

Nothing goes down in a straight line. We've just hit a pocket where sellers have been softened up and a few buyers see an opportunity. EAs and developers will want to talk up a recovery, and the media will want to cover it because it's surprising. 

Edited by Patient London FTB

Share this post


Link to post
Share on other sites
1 hour ago, cashinmattress said:

Anybody thinking that UK property is going to nosedive...after this Brexit mess nosedived the currency...needs to get their head checked.

Especially in more desirable areas like London.

UK property looks great to those holding vast sums of currency in CNY, EUR, AED, SAR, USD, INR, RUB, just to name a few.... so much more purchase for these currencies in less than a year!

No it doesn't

With the new rules, the cost of London property may be cheaper in currency terms but the yearly tax take has gone up a lot.

 

 

 

Share this post


Link to post
Share on other sites

I think the fact Rightmove paid for a few pages of pseudo-articles aimed at fist time buyers says a lot - to me it just smacks of nervousness about the first-time buyer market. You don't pay for pages of ramping if you think people will be queueing up to buy anyway

Share this post


Link to post
Share on other sites

It's easy to get drawn into confirmation biases by focusing on price falls for individual houses, particular press articles and changes such as S24 which suggest falls.

But the fundamentals are that the UK economy looks likely to be mired in recession for a decade or more, supportive wage increases are unlikely, PCL prices can be 80% overvalued by any reasonable affordability criterion, sterling has been abandoned and could easily fall 50% over the next few years.

Overseas buyers looking for a safe haven may be sucking the air between their teeth when the groupthink effect wears off. 

Share this post


Link to post
Share on other sites
6 hours ago, cashinmattress said:

Anybody thinking that UK property is going to nosedive...after this Brexit mess nosedived the currency...needs to get their head checked.

Especially in more desirable areas like London.

UK property looks great to those holding vast sums of currency in CNY, EUR, AED, SAR, USD, INR, RUB, just to name a few.... so much more purchase for these currencies in less than a year!

If transactions stay on the floor,then prices won't be going up.

Worth noting that if Sterling's declining long term then all these savvy foreigners are buying a depreciating asset.My experience of rich people,tells me that's not necessarily how they normally work.

Share this post


Link to post
Share on other sites
5 hours ago, Patient London FTB said:

Nothing goes down in a straight line. We've just hit a pocket where sellers have been softened up and a few buyers see an opportunity. EAs and developers will want to talk up a recovery, and the media will want to cover it because it's surprising. 

Absolutely.

Share this post


Link to post
Share on other sites

What I don't get is how no one (apart from the HPC site of course) isn't sounding the alarms bells about new build in London. Within a 2 mile radius of where I am in Hammersmith there is just loads of this investor targeted property. OK, the stuff close to W8, SW6,etc might be offload-able but I really cant see who is gonna to pay the asking price in NUMEROUS developments of newly completed and soon to be on the market stuff. Crappo developments just so in the wrong place include things like the one snuck behind the Hogarth roundabout. Who is going to pay 800K starting price to live there? Or a 2 million "townhouse" on Goldhawk road? There must be billions of expectations in W6 and W12 alone.

Share this post


Link to post
Share on other sites
56 minutes ago, Futuroid said:

Brexit boost - we are now a Global Britain donchaknow.

Toilet paper currency = All your house are belong to us.

Well I voted brexit because the remoaners told me house prices were going to tank.

Looks like the scumbags were talking horseshit.

Share this post


Link to post
Share on other sites
22 hours ago, knock out johnny said:

I think it's yesterday's Evening Standard - there's another thread

Gazumping is back apparently

And soon to have a new editor I read! From memory that paper has I think weekly a huge supplement for housing related advertising. Though I don't know how much financial support property companies provide. One other issue they have been printing articles on is London business rate rises.

Share this post


Link to post
Share on other sites
1 hour ago, GreenDevil said:

Well I voted brexit because the remoaners told me house prices were going to tank.

Looks like the scumbags were talking horseshit.

Oh they're tanking old bean. As long as your wealth isn't in GBP!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   90 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.