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bomberbrown

Biggest Fall This Year For House Prices In London

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This should have all those happy Tube goers spluttering into their Evening Standard's on the journey home this evening. :lol:

http://www.thisislondon.co.uk/standard/art...ndon/article.do

This is the comment I put (not added yet)

""Roy Stilling from Kent - 'Demand' is a function of the desire for something and the ability to pay. Guess what? Banks aren't going to dish out 125% mortgages anymore, so the demand is not going to be actualised.

There's an overwhemling 'demand' for Ferrari's amongst teenage boys, but not many have one. Funny that.

I've seen this all before in the last crash, and London nominal prices were hit hardest because London had the biggest boom. The price for the average house in Hackney is £369k. Go figure.

London is going to be the epicentre of the coming crash with prices not getting back to 2007 prices until 2015.""

Edit: Forgot link

Edited by bomberbrown

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What a shame I was working from home today - would have been worth standing in a packed, baking hot tube carriage just to see the odd lip quiver... <_<

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London prices are clearly the most stupid of the lot. Do people think that you can easily earn £100k a year in London or something? And if you did earn that kind of money, why the hell would you want to live in a cupboard in Notting Hill?

Prices in London lost all links to reality many, many years ago. My LL paid £60k for our place in 2000 and it's a one bed flat in Zone 3!!!

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  • 399 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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