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Fairyland

Glitzy SW8 down 16%, faces tough resales as prices decline

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Glitzy South-London Homes Face Tough Resales as Prices Decline

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Investors who bought apartments on the south bank of London’s River Thames hoping to flip them for a quick profit face falling values and declining premiums for new homes.

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“I expect values to fall further in the Nine Elms area after a huge amount of supply came -- and is still coming -- at the wrong price,” Neal Hudson, founder of research firm Residential Analysts Ltd., said in a telephone interview, “Investors have dried up and the bulk of demand for London homes is now from owner-occupiers who can only afford to pay 450 pounds per square meter.”

The Nine Elms homes are priced between 750 pounds and 1,500 pounds per square meter, he said. The apartments are often sold with facilities including gyms, swimming pools and 24-hour concierge services.

 

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Please can someone help me understand how these values work?

£450 per sqm  = £45,000 for a 100 sqm property? Normally terraced houses are around 80sqm.

Have they got their units wrong? Should it be sq ft? Or, am I missing something?

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1 minute ago, Fairyland said:

Please can someone help me understand how these values work?

£450 per sqm  = £45,000 for a 100 sqm property? Normally terraced houses are around 80sqm.

Have they got their units wrong? Should it be sq ft? Or, am I missing something?

I think he meant per Sq ft.

My heart really goes out to those investors who paid way too much for their property and wgo are set to lose hundreds ofor thousands. I might even shed a tear for them quietly somewhere today. 

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38 minutes ago, Ah-so said:

I think he meant per Sq ft.

My heart really goes out to those investors who paid way too much for their property and wgo are set to lose hundreds ofor thousands. I might even shed a tear for them quietly somewhere today. 

Worlds smallest violin is at the ready.

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It makes up for all the rivers of tears that property speculators have been shedding these last 20 or so years for the people who were priced out of buying and forced to rent substandard accommodation at ever inflating prices.

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5 hours ago, Up the spout said:

What does schadenfreude mean?  :lol:  :lol:  :lol:

In this modern world of tech savvy people, instant communications, information at ones finger tips and smart phones, are we to believe you've not come across this useful website ?

 

www.google.com 

 

?

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3 hours ago, TheCountOfNowhere said:

In this modern world of tech savvy people, instant communications, information at ones finger tips and smart phones, are we to believe you've not come across this useful website ?

 

www.google.com 

 

?

I swear I've just been whooshed because my question was only meant in humour. 

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10 minutes ago, Up the spout said:

I swear I've just been whooshed because my question was only meant in humour. 

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

Sorry, ten years on here and I;m the sarkiest **** in the world.

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2 hours ago, TheCountOfNowhere said:

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

Sorry, ten years on here and I;m the sarkiest **** in the world.

Ha ha ha!! Picture me mentally slapping my forehead. I often read tortuously pedantic threads on the Graun so I can't tell if someone is just having a laugh and being normal (like your post) or being a prized dickhead (in nearly every G comments section). 

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