thecrashingisles Posted September 13, 2007 Share Posted September 13, 2007 (edited) Here are the annualised trends for all the London boroughs taken from the latest Rightmove stats: Borough MoM Annualised Kensington and Chelsea 0.7% 8.7% City of Westminster -3.2% -32.3% Camden -7.7% -61.8% Hammersmith and Fulham -2.4% -25.3% Richmond-upon-Thames -3.1% -31.5% Kingston-upon-Thames -3.0% -30.6% Islington -3.9% -38.0% Wandsworth -3.5% -34.8% Brent -7.8% -62.3% Barnet -2.3% -24.4% Hounslow -1.3% -14.5% Hackney -1.2% -13.5% Tower Hamlets 2.5% 34.5% Merton -4.1% -39.5% Ealing -3.5% -34.8% Lambeth -3.2% -32.3% Haringey -4.3% -41.0% Southwark -1.1% -12.4% Sutton -1.3% -14.5% Hillingdon -1.6% -17.6% Lewisham -1.2% -13.5% Harrow -2.8% -28.9% Bromley -1.4% -15.6% Enfield -2.2% -23.4% Waltham Forest -2.2% -23.4% Redbridge -1.4% -15.6% Croydon -3.3% -33.1% Newham -2.6% -27.1% Havering -2.5% -26.2% Greenwich -2.2% -23.4% Barking and Dagenham -2.0% -21.5% Bexley -2.0% -21.5% Edited September 13, 2007 by thecrashingisles Quote Link to comment Share on other sites More sharing options...
Guest d23 Posted September 13, 2007 Share Posted September 13, 2007 Here are the annualised trends for all the London boroughs taken from the latest Rightmove stats:Borough MoM Annualised Kensington and Chelsea 0.7% 8.7% City of Westminster -3.2% -32.3% Camden -7.7% -61.8% Hammersmith and Fulham -2.4% -25.3% Richmond-upon-Thames -3.1% -31.5% Kingston-upon-Thames -3.0% -30.6% Islington -3.9% -38.0% Wandsworth -3.5% -34.8% Brent -7.8% -62.3% Barnet -2.3% -24.4% Hounslow -1.3% -14.5% Hackney -1.2% -13.5% Tower Hamlets 2.5% 34.5% Merton -4.1% -39.5% Ealing -3.5% -34.8% Lambeth -3.2% -32.3% Haringey -4.3% -41.0% Southwark -1.1% -12.4% Sutton -1.3% -14.5% Hillingdon -1.6% -17.6% Lewisham -1.2% -13.5% Harrow -2.8% -28.9% Bromley -1.4% -15.6% Enfield -2.2% -23.4% Waltham Forest -2.2% -23.4% Redbridge -1.4% -15.6% Croydon -3.3% -33.1% Newham -2.6% -27.1% Havering -2.5% -26.2% Greenwich -2.2% -23.4% Barking and Dagenham -2.0% -21.5% Bexley -2.0% -21.5% I think annualising HPI from a EA website MoM figures is pretty pointless and best left to the likes of RB tbh* good to see the first negatives I remember for a long while in my area (Hackney) tho; may go someway to mitigating the 10% QoQ and 20% YoY the LR are showing *altho I doubt he'll be doing that from rightmoves figures this month West Midlands +8.3% YoY + 0.9% MoM = + 10.8% annualised ouch. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 13, 2007 Author Share Posted September 13, 2007 *altho I doubt he'll be doing that from rightmoves figures this monthWest Midlands +8.3% YoY + 0.9% MoM = + 10.8% annualised ouch. What's that in dollar terms? Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted September 13, 2007 Share Posted September 13, 2007 London calling, yes, I was there, tooAn' you know what they said? Well, some of it was true! London calling at the top of the dial And after all this, won't you give me a smile? It's all going horribly wrong right. Quote Link to comment Share on other sites More sharing options...
starsign Posted September 13, 2007 Share Posted September 13, 2007 I would love to hear the critism of this data if those little minus signs were plus signs... Camden -7.7% Brent -7.8% you are just pretending that you believe this, aren't you? Quote Link to comment Share on other sites More sharing options...
Pluto Posted September 13, 2007 Share Posted September 13, 2007 It's all going horribly wrong right. As I have said before: London will be the epicenter of the crash. All the migrant workers that were attracted to the bright lights and money will soon be trolling the streets looking for work - that wont be there. The Bob the borrower and builder economy that made London the most expensive city in the world will reverse, and make London a hell on earth for those unlucky enough to be trapped there. Anyone remaining in London should invest in self-defense classes and pepper spray. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 13, 2007 Author Share Posted September 13, 2007 I would love to hear the critism of this data if those little minus signs were plus signs...Camden -7.7% Brent -7.8% you are just pretending that you believe this, aren't you? I've never questioned the data on the way up. It was plain for all to see that we had massive HPI. Soon people will realise that it's over and the numbers above just illustrate how quickly things can change. Asking prices are a great leading indicator of sentiment with sellers. Don't forget we're talking about prices that haven't even been achieved yet. Quote Link to comment Share on other sites More sharing options...
Flat Bear Posted September 13, 2007 Share Posted September 13, 2007 I would love to hear the critism of this data if those little minus signs were plus signs...Camden -7.7% Brent -7.8% you are just pretending that you believe this, aren't you? Looking at all the information to hand it seems London property prices have/are booming. I am certain this trend will reverse within a month or so, expect negative London prices in next months indices. London will be leading the way in this correction. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted September 13, 2007 Share Posted September 13, 2007 Just a few days ago wasn't milk 35p a pint of non-organic in supermarkets? At the corner shop it was just 39p yesterday.This morning the shelves say 40p a pint at a well-known supermarket, organic is 47p. But I guess this won't make the inflation calcs... (btw, cheapest milk I know of is at Wilkinson Stores) ....relax...it's just the start of a correction from bubble to reality......the secret is to face reality...... Quote Link to comment Share on other sites More sharing options...
starsign Posted September 13, 2007 Share Posted September 13, 2007 I've never questioned the data on the way up. It was plain for all to see that we had massive HPI.Soon people will realise that it's over and the numbers above just illustrate how quickly things can change. Asking prices are a great leading indicator of sentiment with sellers. Don't forget we're talking about prices that haven't even been achieved yet. I think the large numbers look dodgy, plus rightmove themselves say it is influenced by the mix of houses. You can take that as VI spin or as the real explanation, time will tell if this data is right. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 13, 2007 Author Share Posted September 13, 2007 time will tell if this data is right. You're right. The hammering that Savills' share price took today (down 4.8%) might be an indicator of which way the city thinks the market is going though. Quote Link to comment Share on other sites More sharing options...
Pluto Posted September 13, 2007 Share Posted September 13, 2007 You're right. The hammering that Savills' share price took today (down 4.8%) might be an indicator of which way the city thinks the market is going though. What is their ticker? It may be worth a punt on the short side. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 13, 2007 Author Share Posted September 13, 2007 What is their ticker? It may be worth a punt on the short side. http://uk.finance.yahoo.com/q?s=SVS.L Quote Link to comment Share on other sites More sharing options...
Pluto Posted September 13, 2007 Share Posted September 13, 2007 http://uk.finance.yahoo.com/q?s=SVS.L Thanks. I am going to add that to my watch list called "Turds". Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 13, 2007 Share Posted September 13, 2007 Thanks. I am going to add that to my watch list called "Turds". Haven't looked but very probably too late to short Quote Link to comment Share on other sites More sharing options...
wotser Posted September 13, 2007 Share Posted September 13, 2007 Drop is the London market is inevitable. Its a big bubble. The banks and BS have reigned in their lending. 20% of the potential buyers are now excluded from the market, and a further 20% dont like the look of the market are staying away. Thats a huge reduction in demand. Besides that there are the knock on effects of the credit crunch. THe smart BTLers are quietly offloading chunks of their portfolios, getting out ahead of the game and taking profits. It will take a while to filter through but we are the beginning of the beginning. Quote Link to comment Share on other sites More sharing options...
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