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TheCountOfNowhere

City house prices plummet as London market continues to cool

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7 minutes ago, TheCountOfNowhere said:

Wandsworth was down over 10% too IIRC.

That doesnt surprise me, Clapham/Balham area has approx 2600 2 bed flats for sale  !!!!!!!!!!!!!

Some of the asking prices for these flat looking ridiculous as people try selling their 3 bed flats and houses !!!

The prices ARE being set at the margins and plenty can afford to sell at 2004 prices !!!! PLENTY

What about me old manor Wimbledon?

 

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7 minutes ago, inbruges said:

What about me old manor Wimbledon?

 

Wimbledon + 1/2 mile on RM says 1018.

 

Plenty under 300K now, tho not sure I'd want to live in them.

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These drops are peanuts... they've risen for over 10 years.... requires a solid drop to attract buyers....  more EU rumbles, US rate hikes... should create ample corrections in values.

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5 hours ago, naturals said:

It's as if they only remembered to turn the black and white setting off when they went to take the photos outside.  It's not exactly homely is it?!

Bought, renovated and back on the market in 14 months - I can only imagine it's a developer.  Weird that they haven't put any furniture in the place when they're asking so much money for it.

For comparison in my neck of the woods (a mile or so nearer to central London, much more vibrant area), you could live in any of these lovely houses and have an extra 1/4 of a mill in the back pocket.

http://www.rightmove.co.uk/property-for-sale/property-73827899.html

http://www.rightmove.co.uk/property-for-sale/property-73864445.html

http://www.rightmove.co.uk/property-for-sale/property-65684545.html

 

they are semi`s this is detached 

sadly its on a main road. 

those semi`s are only worth 500-600k 

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4 hours ago, Smiley George said:

Someone clearly not paying any attention to the news...this one has be completely stumped!

http://www.rightmove.co.uk/property-for-sale/property-73955495.html

Ah hang on, it's Foxtons.....I will celebrate heartily when these odious chumps go bust.

Of all the utterly ludicrous prices I have seen for London property over the last ten years - this has just taken top spot. Outstanding.

I don't even know what to say. Well how about a comparison with another city that isn't exactly known for its cheapness.

So a 3 bedroom ex council house on the OUTSKIRTS of London in Surbiton. Or...

http://www.rightmove.co.uk/overseas-property/property-69062762.html

A 2 bed apartment in downtown Manhattan next to Grand Central Station and City hall. With the following amenities.

  • Expansive rooftop sundeck with stunning views of Manhattan skyline
  • 24-hour doorman, live-in super
  • Residents Lounge
  • State-of-the-art Fitness Room and Yoga Room
  • Residents private mail room
  • Individual storage facilities available
  • Lobby Lounge
  • Shared work lounge
  • Bike Storage
  • Bike Share available for residents
  • Package Room with notification screen

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33 minutes ago, longgone said:

it`s kingston 

 

maybe in burnley or some other northern bumhole

What's the average wage there ?

 

Poor people need houses too, no mater what paert of the country you're in.

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On 19/06/2018 at 12:46, TheCountOfNowhere said:

The tide does feel like it has turned.

We just the cyclic recession to kick in to give it all a final push into meltdown

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17 hours ago, TheCountOfNowhere said:

What's the average wage there ?

 

Poor people need houses too, no mater what paert of the country you're in.

leasehold flats for them seems you are slow on the uptake. 

There will be a correction of some sorts 60k for a semi in kingston 😄 though 

maybe best your going abroad 

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23 hours ago, Smiley George said:

Someone clearly not paying any attention to the news...this one has be completely stumped!

http://www.rightmove.co.uk/property-for-sale/property-73955495.html

Ah hang on, it's Foxtons.....I will celebrate heartily when these odious chumps go bust.

HAAHAHAHAHHA 

that`s all i`m saying 

needs a decimal point after the first 9 

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47 minutes ago, longgone said:

leasehold flats for them seems you are slow on the uptake. 

There will be a correction of some sorts 60k for a semi in kingston 😄 though 

maybe best your going abroad 

Maybe/Maybe not, but 60K is nearer the real value than the prices we see now

Population growth in the capital is not constant, at some point economic circumstance will mean a dwindling london population, at that point you'll not get much for a 2nd hand pile of bricks.

Im glad Im leaving if everyone thinks like you :lol: 

 

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On 19/06/2018 at 13:23, ccc said:

Personally I think almost three quarters of a million £££ for a three bed not even detached new build house*  where you can probably hear your neighbours farting - on the outskirts of London is about as far from a 'fair' price as you can get.

Each to their own though. :D

 

 

* I'm assuming your example is similar to the original one here.

Could NOT AGREE MORE!!!!!  SPOT ON.

 

Basically -- that kind of property - in my eyes -- is worth no more than about £150k.  £170k tops.

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12 minutes ago, eric pebble said:

Could NOT AGREE MORE!!!!!  SPOT ON.

 

Basically -- that kind of property - in my eyes -- is worth no more than about £150k.  £170k tops.

Hopefully we'll see those prices soon.

Something seems to have given and the smell of collapse is in the air again.

It's too late for me and my family, there is no way I'm staying in the UK to fund a boomers retirement and end of life care, knowing fine well that the pwopatee I buy from them will be worth 50% less in no time at all.

The trolls make me laugh when they come on here telling us we are wrong, they are right, we've lost out etc etc etc, they are thinking in the here and now, then think this win will continue forever, until that day when they too will cash their chips in....sadly, for them, it wont, but Im one of the lucky ones my chips are cashed and I am off....

So I say
Thank you for the Q.E, the cash I'm spending,
Thanks for all the joy that's bringing
Who can live without it, I ask in all honesty
What would life be?
Without all that free cash what are we?
So I say thank you for the Q.E.
For giving it to me

 

 

Enjoy your pwopatee empires dick wads.

Edited by TheCountOfNowhere

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3 hours ago, TheCountOfNowhere said:

Maybe/Maybe not, but 60K is nearer the real value than the prices we see now

Population growth in the capital is not constant, at some point economic circumstance will mean a dwindling london population, at that point you'll not get much for a 2nd hand pile of bricks.

Im glad Im leaving if everyone thinks like you :lol: 

 

sadly there are people who think differently, do i think they are worth the asking prices NO do i think they will go back to 90`s pricing NO.

count if i was you i would just get on with your life somewhere else, it must be tiring believing your own bull. 

60k for a house in sw london HAHA keep what ever it is you are smoking 

 

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On 20/06/2018 at 10:34, Smiley George said:

Someone clearly not paying any attention to the news...this one has be completely stumped!

http://www.rightmove.co.uk/property-for-sale/property-73955495.html

Ah hang on, it's Foxtons.....I will celebrate heartily when these odious chumps go bust.

https://www.google.co.uk/maps/@51.3917716,-0.3128886,3a,75y,232.12h,90.68t/data=!3m6!1e1!3m4!1sVRDE53EI3dZCxZK-u4mNgg!2e0!7i13312!8i6656

 

https://maps.kingston.gov.uk/propertyServices/planning/ImageMenu?system=DC&fCaseNo=15/16233&caseNo=1516233

what the guy is trying to do is cover his build costs for the new dwelling selling the old place, so getting a free house. 

good luck with 900k for that dump , i remember seeing the advert for selling garage off for 300k 

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1 hour ago, longgone said:

sadly there are people who think differently, do i think they are worth the asking prices NO do i think they will go back to 90`s pricing NO.

count if i was you i would just get on with your life somewhere else, it must be tiring believing your own bull. 

60k for a house in sw london HAHA keep what ever it is you are smoking 

 

exactly..

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1 hour ago, longgone said:

https://www.google.co.uk/maps/@51.3917716,-0.3128886,3a,75y,232.12h,90.68t/data=!3m6!1e1!3m4!1sVRDE53EI3dZCxZK-u4mNgg!2e0!7i13312!8i6656

 

https://maps.kingston.gov.uk/propertyServices/planning/ImageMenu?system=DC&fCaseNo=15/16233&caseNo=1516233

what the guy is trying to do is cover his build costs for the new dwelling selling the old place, so getting a free house. 

good luck with 900k for that dump , i remember seeing the advert for selling garage off for 300k 

Outstanding work @longgone.

I've had a scan through the planning docs and that's not the guys address, so looks like potentially this is being done by a BTLer as well.....makes it even worse. 😡

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6 hours ago, TheCountOfNowhere said:

Maybe/Maybe not, but 60K is nearer the real value than the prices we see now

Population growth in the capital is not constant, at some point economic circumstance will mean a dwindling london population, at that point you'll not get much for a 2nd hand pile of bricks.

The unspeakable Sajid David is doing his utmost to ensure the UK population keeps rising at a vigorous clip with a no-questions, fast-track registration process for EU citizens.

If nothing else it should guarantee his brother's numerous BTL's remain fully tenanted for the forseeable future.

https://www.theguardian.com/politics/2018/jun/21/uk-unveils-post-brexit-eu-citizen-settlement-scheme

Quote

The government has promised to fast-track the registration process for EU citizens who want to stay in the UK after Brexit, with decisions on applications to remain in the country reduced from six months to “a matter of days”.

Unveiling details of the “settlement scheme” for EU citizens, the Home Office promised that the application process would be “short, simple and user friendly” with a default position of accepting rather than rejecting applications.

Applicants will be asked to prove their identity, that they have no convictions, and that they currently live in the UK.

The answers will then be compared to a database with the aim of giving the quickest answer possible.

Our default position will be to grant status,” Javid told the Lords EU justice sub-committee. “We will be looking to grant status as quickly as we can. We will not be looking for excuses at all to not grant status. It will be driven by default view, you provide this information, if you’re not going to be granted status there will have to be a very serious reason.”

 

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4 hours ago, Smiley George said:

Outstanding work @longgone.

I've had a scan through the planning docs and that's not the guys address, so looks like potentially this is being done by a BTLer as well.....makes it even worse. 😡

Took me 3 mins to find this info. Seller either owns the new build and cashing in and keeping the free house or some mug that paid 300k for a garage and another 120k building the place.

I remember seeing the advert  for the opportunity in ea speak 😁. I never followed it up though. I have seen lots of crap like this make  someone 500k for doing very little.  Sadly never me

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On 19/06/2018 at 10:40, TheCountOfNowhere said:

"The research showed that house prices in the City fell 25.9 per cent in the year to April, "

Does that include further drops in Dollar Terms?

 

I think this is too be expected. One of my theories is that London was overvalued as far back as the 1990s. The low rates we have had since then and particularly since the financial crisis 10 years ago were really about propping up prices as the smaller cohort of Generation X moved into the market. Now the Millennials are meant to be buying, except we they have no money. I think the only way out is inflation, they’ll let inflation rip and then pump interest rates.

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On 20/06/2018 at 10:34, Smiley George said:

Someone clearly not paying any attention to the news...this one has be completely stumped!

http://www.rightmove.co.uk/property-for-sale/property-73955495.html

Ah hang on, it's Foxtons.....I will celebrate heartily when these odious chumps go bust.

I don't understand the attraction of Surbiton. I would rather have this: https://www.rightmove.co.uk/property-for-sale/property-54603552.html  (in Wimbledon). It's also build but in a better area (IMO).

 

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  • 396 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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