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City Bonus Driving The London Market To 10%

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Read an article in the Evening Standard (that bastion of journalism) last night that City Bonuses were going to drive the London property market by 10% this year.

If I am not mistaken, most of the big banks finished the bonus rounds before xmas and Jan, so yes, there are a few bankers who have paid through the nose to move up or implement their exit to the West Country, but I fail to see how this blip is going to drive the London market for the next year.

Who writes this crap and how can they come up with such crass predictions.

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Read an article in the Evening Standard (that bastion of journalism) last night that City Bonuses were going to drive the London property market by 10% this year.

If I am not mistaken, most of the big banks finished the bonus rounds before xmas and Jan, so yes, there are a few bankers who have paid through the nose to move up or implement their exit to the West Country, but I fail to see how this blip is going to drive the London market for the next year.

Who writes this crap and how can they come up with such crass predictions.

Bonuses are announced during January and in some cases December, but most get the cash in the bank either end Jan or Feb, which will means it will take a bit of time to get them spent.

Also, bonuses are paid to nearly all banking staff so it impacts every level from FTB up.

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95% of bonuses go to 0.5% of the bankers

This year one guy took 1% of the entire combined bonuses for London.

It's not like every city worker gets 50 grand

Edited by ?...!

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Read an article in the Evening Standard (that bastion of journalism) last night that City Bonuses were going to drive the London property market by 10% this year.

If I am not mistaken, most of the big banks finished the bonus rounds before xmas and Jan, so yes, there are a few bankers who have paid through the nose to move up or implement their exit to the West Country, but I fail to see how this blip is going to drive the London market for the next year.

Who writes this crap and how can they come up with such crass predictions.

It wouldn't surprise me at all, look at the FT index and rightmove (and soon the first quarter Haliwide), most of them are laready showing prices in London up about 5% since the start of the year.

Edited by kingofnowhere

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95% of bonuses go to 0.5% of the bankers

This year one guy took 1% of the entire combined bonuses for London.

It's not like every city worker gets 50 grand

No, granted, but a fair number of late 25+ year old back office workers are walking away with 20odd grand.

I wouldn't say no to that, in fact my guess is most FTBs wouldn't

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Hello, I am a typical HPC poster and I say: This is a lie by the ES. prices in London are NOt going up. Theyre going down. We're actually in a recession. the end is nigh, nigh I tell you.

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I don't think 20K can push the market up by 10%

I think you need to give every FTB in London 50K to do that, such is the teetering heights of this scene

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It takes very little to create a situation where people outbid each other. We have just offered on a place which is on at 20% over last price achieved, it is very overpriced and needs masses of work. We offered 10% less than asking (or 10% over last price) and were rejected immediately.

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No, granted, but a fair number of late 25+ year old back office workers are walking away with 20odd grand.

I wouldn't say no to that, in fact my guess is most FTBs wouldn't

Being a city worker i'm wondering exactly who gets these bonuses. It's nobody I know...

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I don't think 20K can push the market up by 10%

I think you need to give every FTB in London 50K to do that, such is the teetering heights of this scene

In all honesty I wouldn't know. My post was in relation to two things:

1) Bonus impact (if any) wouldn't be felt until around now because they have really only just been paid

and

2) It's not only the top end that get something, its spread down through the ranks and it WILL help some FTBs

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Hello, I am a typical HPC poster and I say: This is a lie by the ES. prices in London are NOt going up. Theyre going down. We're actually in a recession. the end is nigh, nigh I tell you.

atypical

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Guest Cletus VanDamme

atypical

As I have posted previously, I have been monitoring prices in inner and outer London over the last 5 years. Prices did dip, in 2003, and again in mid-2005. Now, they are definitely on the way up again.

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In all honesty I wouldn't know. My post was in relation to two things:

1) Bonus impact (if any) wouldn't be felt until around now because they have really only just been paid

and

2) It's not only the top end that get something, its spread down through the ranks and it WILL help some FTBs

Then shut up, you're posts are meaningless noise, just like the Standard article.

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Being a city worker i'm wondering exactly who gets these bonuses. It's nobody I know...

I know one – last year he got a bonus of £200000 +

He spent it on a BTL in Bournemouth

He thought all was well so with some spare change he bought another.

although he is not a city worker or a banker

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I know one – last year he got a bonus of £200000 +

He spent it on a BTL in Bournemouth

He thought all was well so with some spare change he bought another.

although he is not a city worker or a banker

Yea but Muriniho is different from the rest of us.

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Ten per cent does sound plausible. I've been repeatedly outbid on property here; the market is very strong. (Incidentally, I've put my bonus towards my deposit :D )

Being a city worker i'm wondering exactly who gets these bonuses. It's nobody I know...

Not all, granted. I believe the cleaners and the chaps on the security desks haven't done so well.

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Guest consa

if they can keep their "house-happy" wives in line

Is that a secret word for "Gold digging" :lol:

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Wow, this is a friendly site!

Post was to illustrate timing and scope of impact.

The bit I don't know about is whether it's enough to drive by 10%, but then you don't know that it isn't, do you???

You have missed the point of the topic entrirely. FOR YOUR BENIFIT, TO SPELL IT OUT, I was commenting on the lack of substance that the press, in particular the London Evening Standard, use to talk up the market.

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Being a city worker i'm wondering exactly who gets these bonuses. It's nobody I know...

Yeah, but if you work in a sandwich shop you wouldn't know, would you?

Who writes this crap a journalist with two BTL properties and how can they come up with such crass predictions (see first comment).

Wotcha gonna do abaht it?

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Did you know?

The Rug's been pulled on some of the more creative bonus schemes

Some of the Bonus Boys will be backing out of the recent high-priced buys, if they can keep their

house-happy wives in line

........or their cute little toy boys.

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You have missed the point of the topic entrirely. FOR YOUR BENIFIT, TO SPELL IT OUT, I was commenting on the lack of substance that the press, in particular the London Evening Standard, use to talk up the market.

Yes, I saw what you were doing, and you were attempting to undermine the article by saying that the impact was over in Dec/Jan, and that bonuses would be used to trade up or sod off to the countryside.

From what I can see going on around me, the market doesn't need much talking up. Sad but true.

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Yeah, but if you work in a sandwich shop you wouldn't know, would you?

That's a pretty inane comment, and based on ES grade background research. I'm an IT manager for an Insurance co & t'other half is an Actuary. If the big bonuses really were about, we're well placed to know people who get them. Most people I know (who are lucky enough to work where bonuses still exist) have got a few grand, tops. These megabucks bonuses are going to the very few, who by and large are very rich anyway.

The rich get richer, the poor get the picture...

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  • 301 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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