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TheCountOfNowhere

Rats....Ship...leaving...Why ?

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https://www.bloomberg.com/news/articles/2017-09-08/foxtons-founder-is-said-to-plan-sale-of-london-towers-project

 

Foxtons’ Founder Plans Sale of London Towers Project

 

A two-year decline in residential land values in London’s priciest districts has flattened out,

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Man who got out of the London estate agency game in 2007, gets out of the London property development game in 2017. Let's face it, he's got an impressive track record of timing the market.

Even China must be running out of greater fools. Let's not forget that those overseas investors who bought 2 years ago have already lost 15% (Chinese yuan) or 20% (Singapore dollar) on currency alone. Factor in real price falls, an increasingly unfavourable tax environment and uncertainty over the UK's relations with the EU and it now looks like buying a Battersea new-build in 2015 was a terrible idea. The only reason we haven't heard more about it is that this particular London bubble hadly involves any British people.

Incidentally, most of those south bank developments that stretch from Parliament to Battersea Power Station are as ugly as hell. One of the great missed opportunities of the last 20 years is that there was no coherent aesthetic master plan.

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  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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