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Fletcher

London Real Estate Suffers Largest Drop In A Decade

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I doubt it, its Zerohedge.

For instance

"Values in the capital dropped 3.8% year-over-year according to the Nationwide Building Society, marking the seventh straight decline. "

Its the seventh quarterly decline,  our Russian friends twist it to imply its yearly falls.

 

Nothing in the data to match 25% as far as I can tell..

 

https://www.nationwide.co.uk/about/house-price-index/download-data#xtab:regional-quarterly-series-all-properties-data-available-from-1973-onwards

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9 minutes ago, Just_Do_It said:

Unsurprisingly a massive spike in prices not long after HTB was introduced.

HTB isn't going to affect London prices as much as is new build and low end. Not a big part of  Londons sales.

At that time its was the top of the market getting frisky.

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41 minutes ago, Peter Hun said:

HTB isn't going to affect London prices as much as is new build and low end. Not a big part of  Londons sales.

At that time its was the top of the market getting frisky.

More of a safety net on the way down for all those flats.

What a beautiful scheme (for the lobbyists who designed it!)  its drives up prices in the poor areas  and backstops the crappy investment units being put up in London.

Average wage 36-40k in London 2x = 75,000 and with just 30K you can bathe in 570,000£of debt.  8 x household 16 x average individual.

1million boom time 600-800k now..... soon to be HTB fodder.  Logically this will put a tax payer subsidised floor under the prices. 

The scale of the HTB subsidy will be staggering if that starts to click in around nine elms etc.

 

https://www.barratthomes.co.uk/Offers/Help-to-Buy/

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Edited by Fromage Frais

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The flip side of having a housing market where your house can make more money than youd earn in a lifetime ....

... Is a housing market where your house can lose more money than youd earn in your life time.

 

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  • 295 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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