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The Three Little Pigs

King Canute Lives Here

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Previously London led busts, but not this time round. Last crash the falls rippled out from the centre, this time they are rolling in from the middle of the country. This month Rics reported the fourteenth consecutive fall in prices in the East Midlands, the ninth in Wales, the eight in East Anglia, the seventh in the West Midlands, North West and Yorkshire and Humberside the sixth in the North and South East and only the fourth in London.

At present London is lagging this crash. And within London , the inner boroughs are lagging the outer boroughs . The shores of London are already wet, the outer suburbs distinctly damp but somewhere in an inner London borough, somewhere included in the Prime Location survey lives King Canute. A homeowner whose house has been on the market for month after month - put on at an overly ambitious price in 2007 and not reduced since. Still included in the asking price surveys this property is doing its best to hold back the tide of gloom.

Indeed our King Canute may have been so bold to increase his asking price if a reader of the latest Prime Location survey; it recorded North West London asking prices up 4.7% in February.

My nomination for the winner of the crown is this 3 bedroom £1.175m beauty boasting a garden that “extends” to 10 feet 9 inches . Positioned behind the cemetery in culturally-enriched Kilburn its just where a high earner would want to spend a lifetime of debt slavery. Of course you know who the agent is:

http://www.foxtons.co.uk/search?order_by=p...large_floorplan

Any other nominations ?

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Presumably the price is high because it includes protection money to the local gangs?

That is incredible. Utter, utter fantasists. Even at the peak last summer, massive immaculate four bed houses with 60' gardens were only going for £1.2m near me in Muswell Hill, one of the most expensive and desirable London suburbs.

This place is in Queen's Park!!!!!!

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:lol::lol::lol:

FFS, it doesnt even seem to have off-road parking!

:lol::lol::lol:

It's in Kilburn, AKA West Hackney (or at least it should be known as). Even when I was a student in London I drew the line at living there

:lol::lol::lol:

Sorry, gotta stop, it's hurting.......

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900 square feet of Cricklewood. At 3.5 times earnings you'd be on £157K a year to warrant this treat.

We're almost crying here. That's quite wicked.

:)

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If it makes him feel better, why not put up the price. Just imagine how much nicer it is living in a house valued at £1.25 million.

He's not selling it till prices fall to the 1000 quid he 'invested' on it back in the dark ages.. ahhh denial :lol:

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That council house in Cricklewood still hasn't been reduced either: http://www.rightmove.co.uk/viewdetails-198...=4&tr_t=buy

If only we could get the banks to lend to each other again this would be sold in days! :lol:

"Days" you say - a reduction in LIBOR would have me (and I bet quite a few others from here) queuing overnight.

Edited by The Three Little Pigs

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"Days" you say - a reduction in LIBOR would have me (and I bet quite a few others from here) queuing overnight.

But at the end of the day, does the mortgage market really affect properties at that end of the market? You need inherited wealth if you want to live in a place like that.

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But at the end of the day, does the mortgage market really affect properties at that end of the market? You need inherited wealth if you want to live in a place like that.

Absolutely right - mostly its oligarchs now choosing the ex Right to Buy places in Cricklewood.

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And here we are in July - no sale, no price reduction, no grip on reality,

I liked the link to mortage repayments (on the site):

Your monthly repayments: (Set your preferred repayment)

Interest-only: £5,620

Repayment: £7,385

....

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  • 292 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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