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Ft: Us Credit Turmoil Hits London Property

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US credit turmoil hits London property

http://www.ft.com/cms/s/0/54dc1886-5282-11...00779fd2ac.html

Fears are growing that the fallout from the US subprime mortgage meltdown will hit house prices in central London, one of the world’s hottest high-end property markets.

Prices for “prime” homes in the most expensive streets of the capital have risen about 50 per cent in the past two years as a financial services boom has enriched bankers and other professionals in the City of London.

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But the global market turmoil unleashed by the US subprime collapse is threatening activity levels at banks in the City, and London property agents are warning that high-end residential prices could suffer as result.

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BTL sheeple stampede on its way....whats that rumble I can hear...quick shut the gate! :lol:

Why "fears." Its good news for priced out locals.

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do you think much money would exit the country from Russian, Irish etc investors bailing? does this bear any relevance?

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do you think much money would exit the country from Russian, Irish etc investors bailing? does this bear any relevance?

Cant speak for the Russians but the Irish were dim enough to only get into the UK property market in the last 3 years.

The last year has seen a number of big, big deals in London done by the Irish.

F**ked again!

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NICE... :P

errrr....how about some yoy falls? No, wait. I'd settle for a significant decrease in Hpi.

But when? 2004 turns into 2005 and 2006 turns into 2007 and.. gadzooks sirrah, we're into 2008.

And still, our false prophets tell us the market is crashing.

Yawn.

:lol::lol::lol::lol:

Yawn.

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errrr....how about some yoy falls? No, wait. I'd settle for a significant decrease in Hpi.

But when? 2004 turns into 2005 and 2006 turns into 2007 and.. gadzooks sirrah, we're into 2008.

And still, our false prophets tell us the market is crashing.

Yawn.

:lol::lol::lol::lol:

Yawn.

Hi Baz, I note you are member 67, so you have been around here for longer than most of us.

I can quite see that the constant news of a crash that did not come would numb you after a while.

Putting all media (including here) to one side, do you think things in the real world feel the same, or different?

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