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I ran the property lion current asking price index this week to see where we are at.

Over all, asking prices up 1.65 % in a month so up about 5% since January !!!  And slight down 1% on the 2018 all time high.

The real news is....London current asking prices down -3.6% in a month !!! 

Total London listings up around 8% on last month.

London is ground zero.

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2 hours ago, TheCountOfNowhere said:

I ran the property lion current asking price index this week to see where we are at.

Over all, asking prices up 1.65 % in a month so up about 5% since January !!!  And slight down 1% on the 2018 all time high.

The real news is....London current asking prices down -3.6% in a month !!! 

Total London listings up around 8% on last month.

London is ground zero.

Is it possible to split London into flats and houses? I suspect that flats with no garden where the main selling point is ease of access to Central London have lost half their value.

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3 hours ago, TheCountOfNowhere said:

I ran the property lion current asking price index this week to see where we are at.

Over all, asking prices up 1.65 % in a month so up about 5% since January !!!  And slight down 1% on the 2018 all time high.

The real news is....London current asking prices down -3.6% in a month !!! 

Total London listings up around 8% on last month.

London is ground zero.

Thanks, Count. This chimes with my searches in outer London. I've therefore been sanguine about indices showing nationwide HPI.

A lot of drops are actually for 3/4-bedroom houses with a decent garden. Some look "landlordy" i.e chain free or with cheap fittings. Others look like nice family homes. So, looks like landlord exit plus whatever is motivating families to sell up.

And as to London as ground zero. I agree. This autumn and winter are going to be very interesting.

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58 minutes ago, This time said:

Is it possible to split London into flats and houses? I suspect that flats with no garden where the main selling point is ease of access to Central London have lost half their value.

Yep and airbnbs. No tourists no money.

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57 minutes ago, Voice of Doom said:

Thanks, Count. This chimes with my searches in outer London. I've therefore been sanguine about indices showing nationwide HPI.

A lot of drops are actually for 3/4-bedroom houses with a decent garden. Some look "landlordy" i.e chain free or with cheap fittings. Others look like nice family homes. So, looks like landlord exit plus whatever is motivating families to sell up.

And as to London as ground zero. I agree. This autumn and winter are going to be very interesting.

The london average is double the total average so a surge on listings there and the S.E and S. W make the pl current asking prices rise but the truth is salea volumes are low and prices in london are falling. 

 

The top end in the shires is mostly probably in trouble 

 

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7 hours ago, TheCountOfNowhere said:

I ran the property lion current asking price index this week to see where we are at.

Over all, asking prices up 1.65 % in a month so up about 5% since January !!!  And slight down 1% on the 2018 all time high.

The real news is....London current asking prices down -3.6% in a month !!! 

Total London listings up around 8% on last month.

London is ground zero.

Cannot see how they are all going to buy 1.3 million £ houses in Norfolk if the properties are not selling down there.

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9 hours ago, Fromage Frais said:

Cannot see how they are all going to buy 1.3 million £ houses in Norfolk if the properties are not selling down there.

That’s exactly what I thought. If detached houses with nice gardens are not selling in London why would they sell hundreds of miles away. Are we sure all these people in London are queueing up to buy properties up north? 
I still think the game changer will be all those AirBnbs. Purchased on leverage this is the 6th month without any tourist. Some owner will probably sell and the market landscape will change. I am following what is going on in Barcellona, Venice and other major European touristic hotspots. I do believe we will see similar path if foreign money doesn’t land at Heathrow. 

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I moved out of London - it is either very high earners or pathetic kids who want to kill each other because they are from a different estate calling each other bro or bruv.

I love visiting London and seeing the history, good bars, restaurants but no way would I ever live there now.

I am sure that the lockdown and people working more from home will make people re-evaluate where they live and move out.  

 

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18 hours ago, TheCountOfNowhere said:

The real news is....London current asking prices down -3.6% in a month !!! 

Total London listings up around 8% on last month.

Thanks Count. This matches much more closely with what we're seeing on the ground in SW London/Surrey, lots of reductions and a flurry of new listings this past couple of weeks.

Can't see the post-Covid mania lasting much longer.

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4 hours ago, NoHPCinTheUK said:

That’s exactly what I thought. If detached houses with nice gardens are not selling in London why would they sell hundreds of miles away. Are we sure all these people in London are queueing up to buy properties up north? 
I still think the game changer will be all those AirBnbs. Purchased on leverage this is the 6th month without any tourist. Some owner will probably sell and the market landscape will change. I am following what is going on in Barcellona, Venice and other major European touristic hotspots. I do believe we will see similar path if foreign money doesn’t land at Heathrow. 

Agreed. How are things in Barcelona/ Venice?

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11 minutes ago, ucnvpe0 said:

Agreed. How are things in Barcelona/ Venice?

No idea about Venice, but Barca down 7% Q1 yoy. 
Spain in deep s**t. It’s a crash for sure. 
 

However, Venice is more about trying to understand if tourism is back, Airbnb’s policies changes etc. I would not compare London with a city which is basically a sort of Disneyland’s. Madrid, Barca, Milan, Rome, Berlin etc probably in the same group as London. Those will tell us what could happen. Mix of tourism, high level of Bnbs flats, national hotspots for good jobs..

Edited by NoHPCinTheUK
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2 hours ago, NoHPCinTheUK said:

No idea about Venice, but Barca down 7% Q1 yoy. 
Spain in deep s**t. It’s a crash for sure. 
 

However, Venice is more about trying to understand if tourism is back, Airbnb’s policies changes etc. I would not compare London with a city which is basically a sort of Disneyland’s. Madrid, Barca, Milan, Rome, Berlin etc probably in the same group as London. Those will tell us what could happen. Mix of tourism, high level of Bnbs flats, national hotspots for good jobs..

If working from home is the new norm, not sure I'd be buying in the shires in the UK

 

https://www.rightmove.co.uk/properties/95672915?currencyCode=GBP#/

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1 hour ago, TheCountOfNowhere said:

If working from home is the new norm, not sure I'd be buying in the shires in the UK

 

https://www.rightmove.co.uk/properties/95672915?currencyCode=GBP#/

Problem with that is it's in France. It might seem idyllic to work remotely to some but many have friends and family fairly close by. 

The other problem is coming to sell it. A lot of 'bargain' property has been on the market for months or even years. 

I'll grant you though that Bordeaux would be a great city to live in.

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1 minute ago, adarmo said:

Problem with that is it's in France. It might seem idyllic to work remotely to some but many have friends and family fairly close by. 

The other problem is coming to sell it. A lot of 'bargain' property has been on the market for months or even years. 

I'll grant you though that Bordeaux would be a great city to live in.

You would be surprised how many down south are "economic migrants" which to me, basically means "not from the south".  But yes being realistic its too much a jump for most.  Simpler going north for many.

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13 hours ago, blackhole said:

You would be surprised how many down south are "economic migrants" which to me, basically means "not from the south".  But yes being realistic its too much a jump for most.  Simpler going north for many.

My mate and business partner just gone to his place which is about 300 k south of there been there a few times and yep Bordeaux is a lovely city but once experienced doesn’t really have any draw 

But after the novelty wears off it’s quite featureless around and well bumble F*** only so much rustic I can personally take and it’s miles away 

Typing this from an Airbnb on the edge of Snowdonia - stunning 4 bed plot - 4 hours from London - I am sure there are places like this all over the UK you can get something decent for not much more without the hassle

 

Edited by GregBowman
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14 minutes ago, GregBowman said:

My mate and business partner just gone to his place which is about 300 k south of there been there a few times and yep Bordeaux is a lovely city but once experienced doesn’t really have any draw 

But after the novelty wears off it’s quite featureless around and well bumble F*** only so much rustic I can personally take and it’s miles away 

Typing this from an Airbnb on the edge of Snowdonia - stunning 4 bed plot - 4 hours from London - I am sure there are places like this all over the UK you can get something decent for not much more without the hassle

 

Naked it. Wales would be my escape. Cheap, there's an incentive to support self builders with eco and you're never more than two hours from England. 

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3 hours ago, GregBowman said:

But after the novelty wears off it’s quite featureless around and well bumble F*** only so much rustic I can personally take and it’s miles away 

I asked a french friend (sent him the rightmove link) and he basically said its got wine ... and that's about it.  

3 hours ago, GregBowman said:

Typing this from an Airbnb on the edge of Snowdonia - stunning 4 bed plot - 4 hours from London - I am sure there are places like this all over the UK you can get something decent for not much more without the hassle

 

3 hours ago, adarmo said:

Naked it. Wales would be my escape. Cheap, there's an incentive to support self builders with eco and you're never more than two hours from England. 

A few consultants I've worked with over the years are based in wales, they absolutely love the quality of life (as well as value).  Can only see the dispersion effect growing from here onward.  They were both remote heavily pre-COVID too.

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2 hours ago, squeezed said:

The biggest downside of living in Wales (to me) is that if you happen to have kids then they will have to learn Welsh in school and it's not very useful anywhere but Wales. 

 

That is a small price to pay. I lived in Wales during my Ph.D. and loved it. Should have stayed. the people are much nicer, the scenery is awesome, quality of life streets ahead of the South east of the UK. Cardiff is a great city. The weather is rubbish, and connections to the rest of the world are a bit pants, but Heathrow is only 2 hours away, and London less than that on inter city train. If it wasn't for my family, I would leave the South east as I don't need to live here.

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  • 417 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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