TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 I wonder what effect London house prices collapsing will have on the shires £133 per sq foot for a do-er-up-er 42 miles out side of London. Bargain. I wonder why. Quote Link to comment Share on other sites More sharing options...
dugsbody Posted September 10, 2020 Share Posted September 10, 2020 4 minutes ago, TheCountOfNowhere said: Then why so many trolls over the years ? Isn't that begging the question. Are they actually trolls or do they just have different views? But, for the actual trolls, its because there are always trolls, everywhere, on every internet site. And since house prices are such an emotional topic it is prime hunting ground. But not everyone who has a different opinion about buying a house is a troll. Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted September 10, 2020 Share Posted September 10, 2020 Seems like there are always tenants available for London property owners - Camden council for one is desperate to find landlords. https://mobile.twitter.com/LifeInKilburn/status/1303974322332106752 Quote Link to comment Share on other sites More sharing options...
This time Posted September 10, 2020 Share Posted September 10, 2020 1 hour ago, dugsbody said: But not everyone who has a different opinion about buying a house is a troll. They are on this site! I got put on ignore by someone recently because I'm buying a house. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 1 hour ago, dugsbody said: Isn't that begging the question. Are they actually trolls or do they just have different views? No, they were trolls. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 (edited) 6 minutes ago, This time said: They are on this site! I got put on ignore by someone recently because I'm buying a house. You're not waiting for the crash ? You can spot some of the trolls by the way they de-rail threads. So, geting back to the collapse of the London housing bubble.... Edited September 10, 2020 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
winkie Posted September 10, 2020 Share Posted September 10, 2020 Buying a house, nothing wrong in that....the issue is not about buying, it has always been about price.......been buying since I joined, now bought, if prices had halved or do halve no skin off my nose......no better off or worse off because only sitting on or living in an illusion. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 29 minutes ago, Trampa501 said: Seems like there are always tenants available for London property owners - Camden council for one is desperate to find landlords. https://mobile.twitter.com/LifeInKilburn/status/1303974322332106752 For all the people just off boats ? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 1 hour ago, dugsbody said: But not everyone who has a different opinion about buying a house is a troll. Everyone on here wants to buy a house. Not everyone on here comes to tell people not buying a house they should or imply they should cause everyone else including themselves on a forum about the housing bubble are also buying. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 10, 2020 Author Share Posted September 10, 2020 2 hours ago, highcontrast said: Precisely! Why would @richmondtw be wasting time on such a forum if it wasn't to talk the market up? Not an agent....mmm...ok if you say so? Maybe BTL scum with a decent portfolio and want to sell out before this all sinks like the Titanic? Reminds me of forums for stocks and shares, they are full of rampers and de-rampers, trying to post for their own agenda. Surely @richmondtw, with your idyllic sounding life, you must have much "much" better things to do that make your point on this forum? No? I look on lse forums sometimes, it's hilarious. When the prices collapse they all turn on the people who gave all the bad advice. Quote Link to comment Share on other sites More sharing options...
dugsbody Posted September 10, 2020 Share Posted September 10, 2020 Just now, TheCountOfNowhere said: Everyone on here wants to buy a house. Not everyone on here comes to tell people not buying a house they should or imply they should cause everyone else including themselves on a forum about the housing bubble are also buying. Agreed. I've given my views on the causes of high house prices many times. And once I'd eventually settled on my view it shaped my next actions. The choice of everyone is theirs to make. But if we have a thread discussing London house prices then I feel it should allow differing views on London house prices. My personal view is that rents are the thing to watch since they reflect demand much more accurately in the short term. Problem is, we don't have as reliable rent price data per area. I also thought we already had multiple threads for discussing London house prices and overpriced shitholes, again, could be wrong. Anyway, regarding London prices, I'm in the process of selling and buying so in a month or so I can report my own experience. So far, offered at under asking price for a better place, accepted, got my own asking price on the place we're selling. But nothing is settled till the money is with the solicitors so I'm being wary. Reports around my cheap area of London is that houses with gardens selling well. No idea about flats. Anecdotally I know several people who have their London flats under offer as they're moving further out. Whether they got the prices they wanted or not, I didn't pry. Quote Link to comment Share on other sites More sharing options...
This time Posted September 10, 2020 Share Posted September 10, 2020 9 minutes ago, TheCountOfNowhere said: You're not waiting for the crash ? You can spot some of the trolls by the way they de-rail threads. So, geting back to the collapse of the London housing bubble.... Nah. We've been waiting for the crash for the best part of a decade, we can buy a place we like for cash now that we're not as tied to London and house prices would need to drop by almost 1% of purchase price a month the whole time we owned it for us to be down when we sell. If we wait six months we'd be down about £12k in possible savings and if Rishi pulls another help to buy out of his **** we might have to get a mortgage and lose our help to buy ISA bonuses. In a year's time I doubt we'll care what the house is worth. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 10, 2020 Share Posted September 10, 2020 18 minutes ago, This time said: Nah. We've been waiting for the crash for the best part of a decade, we can buy a place we like for cash now that we're not as tied to London and house prices would need to drop by almost 1% of purchase price a month the whole time we owned it for us to be down when we sell. If we wait six months we'd be down about £12k in possible savings and if Rishi pulls another help to buy out of his **** we might have to get a mortgage and lose our help to buy ISA bonuses. In a year's time I doubt we'll care what the house is worth. Agree you can do whatever suits. This world and the UK has not felt so wobbly for a very long time. I have lived through a few ups and downs....made more money than most from them. Assuming prices do nudge up a little towards the end of the year and the government does pull something from their very deep hat then if buying a house (which I have done er...lots of times) those icy January and February days are great. Less viewers, more empties due to natural causes and if lucky maybe one where the sale has fallen through in Sept and again in November. It’s not about ‘an investment’ it’s about buying when there are more sweeties in the tin to choose from and less hands grabbing at them. No harm looking right now but (my son is doing that) but in my experience I would not fight to outbid 2 or 3 other people who are also looking and hold fire even for a couple of months. Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 10, 2020 Share Posted September 10, 2020 1 hour ago, Trampa501 said: Seems like there are always tenants available for London property owners - Camden council for one is desperate to find landlords. https://mobile.twitter.com/LifeInKilburn/status/1303974322332106752 Ahh the catch ..... at LHA rates. Inner North London BRMA Shared Accommodation Rate: £147.29 per week One Bedroom Rate: £295.49 per week Two Bedrooms Rate: £365.92 per week Three Bedrooms Rate: £441.86 per week Four Bedrooms Rate: £593.75 per week Ahh but - Average Salary in London, England: London £37k, so ~700/w 3br house would take all the average wage, leaving nothing for anything else. Quote Link to comment Share on other sites More sharing options...
captainb Posted September 10, 2020 Share Posted September 10, 2020 1 minute ago, spyguy said: Ahh the catch ..... at LHA rates. Inner North London BRMA Shared Accommodation Rate: £147.29 per week One Bedroom Rate: £295.49 per week Two Bedrooms Rate: £365.92 per week Three Bedrooms Rate: £441.86 per week Four Bedrooms Rate: £593.75 per week Ahh but - Average Salary in London, England: London £37k, so ~700/w 3br house would take all the average wage, leaving nothing for anything else. Not sure i get the point? You get the LHA rate as a landlord from the council. What the tennant earns doesnt matter - its the taxpayer through housing benefit picking up the bill Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 10, 2020 Share Posted September 10, 2020 1 hour ago, captainb said: Not sure i get the point? You get the LHA rate as a landlord from the council. What the tennant earns doesnt matter - its the taxpayer through housing benefit picking up the bill What the workers earn does matter, jnrealtion housing costs. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted September 10, 2020 Share Posted September 10, 2020 London is a disgraceful sh1thole these days. Ugly b4stard central too. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted September 10, 2020 Share Posted September 10, 2020 4 hours ago, Pop321 said: When I look at London from afar...North Yorkshire....it amazes me that people would pay soooo much for places that are so rough, miserable and even lacking any ‘hip cafe vibe’ We visit London and those leafy streets in Nottinghill or the big houses overlooking Hyde Park are priceless. However when people post about London (on other threads) and I look at the outer areas...eg my brother lived in Edmonton, Enfield and near Cockfosters and well, it’s just not ‘London’. Don’t get me wrong the places were okay but very much their own little towns and ‘close to London’ maybe 45 minutes by train or 4 hours by car😆...but they were not ‘London‘. The vast majority of people I meet don't even work or visit the centre infact my brother used to join us as we took the tube in because he hadn’t been in the city for 6 months or so. This isn’t a criticism of these outer areas....but whilst I might pay £5m to live close to Harrods I wouldn’t pay £700k to be 10 miles away. I guess it is ‘the ripple’ and because houses on a street is £1m then the next street away is relatively good value at £975k. However there comes a point when those on the outskirts with normal average jobs and normal lifestyles need to re-evaluate the lack of value for money they are getting. £800k buys a lots of bricks up ‘er in Yorkshire. We even have jobs in nursing, doctors, teaching, firemen, gardening, building, cooking, etc. Even the odd posh soft office jobs too but probably a few less in ‘media, advertising and fashion’ There will be plenty who want and need to be in these parts of London ie brought up there, family etc but I wouldn't choose to move there...not on purpose😉 😁Are you by any chance an Arab? Most Londoners wouldn't want to be seen dead in Harrods never mind pay to live near there. London is very pleasant to be in at the moment. Largely crowd free and you can get into exhibitions, restaurants, outdoor bars etc. that you would normally have to book months in advance, at a few days notice or even on spec. Will be less fun when the weather turns but apart from the lack of live entertainment it's just about ideal now. Quote Link to comment Share on other sites More sharing options...
captainb Posted September 10, 2020 Share Posted September 10, 2020 (edited) 21 minutes ago, spyguy said: What the workers earn does matter, jnrealtion housing costs. Well yes.. but they are advertising for properties for council tenants - who yes pay LHA rates but its not from wages its from housing benefit. So salary if it exists or not is of no matter to the landlord if they rent to camden council as per that advert. Edited September 10, 2020 by captainb Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 10, 2020 Share Posted September 10, 2020 2 hours ago, This time said: Nah. We've been waiting for the crash for the best part of a decade, we can buy a place we like for cash now that we're not as tied to London and house prices would need to drop by almost 1% of purchase price a month the whole time we owned it for us to be down when we sell. If we wait six months we'd be down about £12k in possible savings and if Rishi pulls another help to buy out of his **** we might have to get a mortgage and lose our help to buy ISA bonuses. In a year's time I doubt we'll care what the house is worth. How can you be a cash buyer and claim HTB ISA bonus? That is only available if you buy with a mortgage... Quote Link to comment Share on other sites More sharing options...
This time Posted September 10, 2020 Share Posted September 10, 2020 17 minutes ago, rantnrave said: How can you be a cash buyer and claim HTB ISA bonus? That is only available if you buy with a mortgage... Bugger, it seems you're right. You'd think the solicitor would know that. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 10, 2020 Share Posted September 10, 2020 2 hours ago, Confusion of VIs said: 😁Are you by any chance an Arab? Most Londoners wouldn't want to be seen dead in Harrods never mind pay to live near there. London is very pleasant to be in at the moment. Largely crowd free and you can get into exhibitions, restaurants, outdoor bars etc. that you would normally have to book months in advance, at a few days notice or even on spec. Will be less fun when the weather turns but apart from the lack of live entertainment it's just about ideal now. Take your point. I meant one of a kind I guess Eg bridge, tower, palace, harrods 😆😆 As opposed to DIY store, charity shop, cafe Nero, green grocers, betting shop...ie could be anywhere. Although I know when I am in outer London areas because of the lack of any sigand of money 😆😆 Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted September 11, 2020 Share Posted September 11, 2020 8 hours ago, TheCountOfNowhere said: For all the people just off boats ? Well what to do when the four star spa hotels are fully booked. Can't expect people to slum it up north when central London beckons. Quote Link to comment Share on other sites More sharing options...
Redranger41 Posted September 14, 2020 Share Posted September 14, 2020 On 9/8/2020 at 3:51 PM, simon2 said: London is just a mash of lots of separate markets. Both area and property type. There have been some really sharp falls in some places. Modern flats in the E14/E16 postcodes for example, I see quite big falls off sky-high asking prices. Poor quality houses in unfashionable postcodes also falling. I wouldn't be surprised for some flats that they are more than 20% off the peak once sold. Nicer properties in more desirable areas not so weak, or perhaps their falls are to come later if chains break. Personally I think it's really interesting just watching. There is some clear psychological pricing at play where I see. Some blocks of flats just don't sell, their price reduced because someone doesn't want to bank a loss. But once this is breached and the loss becomes accepted, weakness produces weakness. An example is outer South London. Very few modern flats change hands, because locals could only afford them on buying schemes, and if you had the money to not use the schemes you could get somewhere nicer. £400k for a 2-bed, 2-bath used the be the lined but there are now plenty under and still not going. But that's because other surrounding properties have dropped as well. Out of interest where in South London? I've been looking in the Clapham/Balham area. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 14, 2020 Share Posted September 14, 2020 On 10/09/2020 at 18:54, rantnrave said: How can you be a cash buyer and claim HTB ISA bonus? That is only available if you buy with a mortgage... +1 Astute point Quote Link to comment Share on other sites More sharing options...
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