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Anectdotal only but even so:

Nice 3 bed, large garden flat in my road, Belsize Park Nth London, been on the market for about two hours this morning, potential buyers invited by text and by 10.30 about a dozen people were jostling to get around the place, asking price £1.5m. It will probably sell for more.

It just feels like the craziness will continue for ever but at the same time the desperation just screams "bubble" to me. I am not sure whether to be happy or sad. :huh:

S.

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be happy

[i shouldjust leave it at that: "Be Happy :-)"]

personally, i'm not entering into an enormous mountain of debt when i can rent for half the price of an I/O mortgage [cheap flat + York is strange, it really is 50% of the price of a mortgage for equivalent flat...]

watching people spend so much money on a flat just makes me laugh

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Guest Cletus VanDamme
It just feels like the craziness will continue for ever but at the same time the desperation just screams "bubble" to me. I am not sure whether to be happy or sad. :huh:

It does feel that way doesn't it. It seems that everyone seems to be rolling in money apart from me. Where are all these wealthy people coming from, and if they're wealthy, don't they have property already?

But, as I keep saying, this bull run in the South East has still got a few more years to run.

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Guest Charlie The Tramp
8154_1110_IMG_00_t.jpg

£250,000

3 bedrooms | Apartment

Adine Road, Barking Road, E13 8LL

Adine Road is located in Plaistow. It is a quiet residential street. Plaistow is very close to Canary Wharf. There are a number of shops and restaurants close by. This three bedroom terraced house comprises of a front sitting room and an open plan kitchen. From the kitchen one ...

When they are asking a cool 1/4 of a million pounds for this in an area I know well then you know a big bang is not far off.

Absolute ******* madness.

2000 you would be lucky to sell this for £60k

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be happy

[i shouldjust leave it at that: "Be Happy :-)"]

personally, i'm not entering into an enormous mountain of debt when i can rent for half the price of an I/O mortgage [cheap flat + York is strange, it really is 50% of the price of a mortgage for equivalent flat...]

watching people spend so much money on a flat just makes me laugh

It is funny. It will be funnier if I am finally proved correct in expecting a crash but I am wavering a bit. Who would not with this sort of thing going on? It still feels like the dot com bubble or 1989 pre-crash.

S.

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When they are asking a cool 1/4 of a million pounds for this in an area I know well then you know a big bang is not far off.

Absolute ******* madness.

2000 you would be lucky to sell this for £60k

These people flocking to buy these hovels are not using their own money. It is like playing Monopoly.

The banks are the ones fueling this.

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These people flocking to buy these hovels are not using their own money. It is like playing Monopoly.

The banks are the ones fueling this.

personally, thats the key to understanding these people, "It is like playing Monopoly".

all i can think is "ITS 1/4 MILLION QUID!!!!", followed by a quick calculation about how many hours in frony of my pc screen i have to do to earn 1/4million... [its a lot....]

maybe i'm wrong, maybe i should treat it as Monopoly money [the BOE with 13% M3 growth rates do...], but i try to accept who i am and be happy with it. and i'm not someone who can sleep owing 1/4 million quid.

f*ck it. i'm not playing this game.

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When they are asking a cool 1/4 of a million pounds for this in an area I know well then you know a big bang is not far off.

Absolute ******* madness.

2000 you would be lucky to sell this for £60k

Barking, a short run to Canary Wharf, the new financial heart of London, City airport, Close to friendly council block communities and talanted graffiti artists, ideal investment for supporters of the BnP, where are the disadvantages?

E13 8LL

2000-05-26 24 Adine Road, Newham, London, Greater London, E13 8LL £45,000

2002-09-27 24 Adine Road, Newham, London, Greater London, E13 8LL £130,000

2006-04-05 24 Adine Road, Newham, London, Greater London, E13 8LL £150,000

2006-08-11 24 Adine Road, Newham, London, Greater London, E13 8LL £230,000

Edited by skhudy
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I would not buy in London in this climate. No chance.

BTW: I'm an 05 buyer who is feverishly deleveraging ahead of the coming storm [can't find a "squeeky bum symbol].

Care to hazard a guess as to how long this feverish buying at ever crazier prices will go on in London?

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Barking, a short run to Canary Wharf, the new financial heart of London, City airport, Close to friendly council block communities and talanted graffiti artists, ideal investment for supporters of the BnP, where are the disadvantages?

E13 8LL

2000-05-26 24 Adine Road, Newham, London, Greater London, E13 8LL £45,000

2002-09-27 24 Adine Road, Newham, London, Greater London, E13 8LL £130,000

2006-04-05 24 Adine Road, Newham, London, Greater London, E13 8LL £150,000

2006-08-11 24 Adine Road, Newham, London, Greater London, E13 8LL £230,000

backs up the low end of the market is more overpriced 'terraces, flats, ex council'

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Yep, it's crazy alright.

Two bed flat in my block went on sale in January. £220k. Needs complete overhaul, hasn't even got central heating.

Week-ends are the worst as the queue-to-view snakes down the road. The local burger van now has a permanent pitch, in order to feed the hungry house hunters.

:P

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Care to hazard a guess as to how long this feverish buying at ever crazier prices will go on in London?

1. Caution tells, 6-18 more months. Then stagnation for 6-12 months. Then who knows.............

2. Self-interest tells me 3 years, then stagnation/HPC. I plan to be mortgage free in around 4 years.

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.....

E13 8LL

2000-05-26 24 Adine Road, Newham, London, Greater London, E13 8LL £45,000

2002-09-27 24 Adine Road, Newham, London, Greater London, E13 8LL £130,000

2006-04-05 24 Adine Road, Newham, London, Greater London, E13 8LL £150,000

2006-08-11 24 Adine Road, Newham, London, Greater London, E13 8LL £230,000

Truly terrifying!

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Anectdotal only but even so:

Nice 3 bed, large garden flat in my road, Belsize Park Nth London, been on the market for about two hours this morning, potential buyers invited by text and by 10.30 about a dozen people were jostling to get around the place, asking price £1.5m. It will probably sell for more.

It just feels like the craziness will continue for ever but at the same time the desperation just screams "bubble" to me. I am not sure whether to be happy or sad. :huh:

S.

Not sure what's more bubblicious - the £1.5m for a 3 bed flat or the hordes fighting to buy it...

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Sure are a lotta snobs on here <_<

Not really. I live in the Newham area - and it's OK. The problem is that local incomes can't justify these prices (average in 2000 was £24K - in 2006 it was £20K). That's right - income is decreasing. I earn considerably more than the average for the area (and have a deposit nearly twice my salary) - and I can't afford to buy this flat.

Sure there's been lots of immigrants in the past couple of years to this part of London - but there are also literally hundreds of rooms and flats available for rent in local newsagents (and my shared house has never been full in the 3 1/2 years I've lived in it).

My income has grown by around 50% since 2000 (includes a promotion or two) - the flat on the other hand is 7X it's 2000 price! So what's the justification for this increase (I haven't seen too many Russian billionaires or city types around here).

Edited by greencat
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Anectdotal only but even so:

Nice 3 bed, large garden flat in my road, Belsize Park Nth London, been on the market for about two hours this morning, potential buyers invited by text and by 10.30 about a dozen people were jostling to get around the place, asking price £1.5m. It will probably sell for more.

It just feels like the craziness will continue for ever but at the same time the desperation just screams "bubble" to me. I am not sure whether to be happy or sad. :huh:

S.

Well above my league, 12 people wanting to pay £1.5m it must be way too cheap. Well the 11 who lose out on the bargain of the year will soon be thanking their lucky stars.

The vendor must be a HPC bear. ;)

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Care to hazard a guess as to how long this feverish buying at ever crazier prices will go on in London?

Think a good bit longer yet. I can remember prior to the last crash a disused victorian public toilet on a main road being put up for sale for some ridiculous price.I kid you not!!! Seem to recall it being discribed as a development opportunity. Remember me and the old man thinking someone was 'avin a laff. Sadly not.

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Barking, a short run to Canary Wharf, the new financial heart of London, City airport, Close to friendly council block communities and talanted graffiti artists, ideal investment for supporters of the BnP, where are the disadvantages?

E13 8LL

2000-05-26 24 Adine Road, Newham, London, Greater London, E13 8LL £45,000

2002-09-27 24 Adine Road, Newham, London, Greater London, E13 8LL £130,000

2006-04-05 24 Adine Road, Newham, London, Greater London, E13 8LL £150,000

2006-08-11 24 Adine Road, Newham, London, Greater London, E13 8LL £230,000

This is a truly graphic illustration of how silly things have got. I believe in logic, reason and theories based on sound mathematics not fairy tails monsters and miracle economies with no Bust only boom.

Surely one day soon people will wake up and see houses as the overvalued rubbish they are.

I am sure if Sky or the local football team had increased their prices by 5.1 times in just over 6 years there would be a national outcry from the sheeple... Sadly HPI has been marketed to these Joe Six packs as a way of showing ones wealth.. Price increased again great.. why not buy a new sports car... Even bulls have to admit that one day the party will end... I Dare anyone to argue in mathematical terms how anything other than stagnation or a crash can happen... Come on bulls this statement is your red rag.. Argue if you dare

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I believe in logic, reason and theories based on sound mathematics

I Dare anyone to argue in mathematical terms how anything other than stagnation or a crash can happen... Come on bulls this statement is your red rag.. Argue if you dare

'Mathematical terms'? What about reality?

You may believe in logic, reason and theories. I believe in demand outstripping supply by tenfold. I believe in the City's status as the leading financial centre of the world. I believe in annual bonuses of £20bn being pumped into the market. I believe in the Olympics in 2012. I believe in Heathrow terminal 5 bringing 60% more traffic to the capital. I believe in runway 3 in 2017. I believe in large scale immigration and foreign investment. I believe in the prodigious ongoing program of residential and commercial regeneration and development. I believe in a burgeoning transport and social infrastructure.

We are talking about the London market, and this is the real world, my friend.

'Mathematical terms'? How quaint.

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This is a truly graphic illustration of how silly things have got. I believe in logic, reason and theories based on sound mathematics not fairy tails monsters and miracle economies with no Bust only boom.

Surely one day soon people will wake up and see houses as the overvalued rubbish they are.

I am sure if Sky or the local football team had increased their prices by 5.1 times in just over 6 years there would be a national outcry from the sheeple... Sadly HPI has been marketed to these Joe Six packs as a way of showing ones wealth.. Price increased again great.. why not buy a new sports car... Even bulls have to admit that one day the party will end... I Dare anyone to argue in mathematical terms how anything other than stagnation or a crash can happen... Come on bulls this statement is your red rag.. Argue if you dare

I would not track houses in London anymore. It is all fiction based on fantasy earnings and very low volume sales. When the crash hits London these prices will decend at 100K a clip.

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You may believe in logic, reason and theories. I believe in demand outstripping supply by tenfold. I believe in the City's status as the leading financial centre of the world. I believe in annual bonuses of £20bn being pumped into the market. I believe in the Olympics in 2012. I believe in Heathrow terminal 5 bringing 60% more traffic to the capital. I believe in runway 3 in 2017. I believe in large scale immigration and foreign investment. I believe in the prodigious ongoing program of residential and commercial regeneration and development. I believe in a burgeoning transport and social infrastructure.

of course you do.

you bought BEFORE the boom in prices didnt you.

and thats the ONLY reason you believe what your eyes tell you not so.

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