Tuesday, September 13, 2011

Whoosh! Catch us if you can.

Prices in central London set to rocket, says Knight Frank

Grainne Gilmore, Knight Frank’s head of research, insisted: “London is really seen as a safe haven for global money. We ran some figures showing how prime property is doing in terms of asset classes. It beat the FTSE 100 tracker over the last ten years by quite a long margin and certainly gives gold a run for its money. As a result, Knight Frank is forecasting that prices in this area and in the nearby City are set to rise 118% by the end of 2015, second only to the Vauxhall area in south London, where prices are forecast to jump 140% thanks to the redevelopment of Battersea Power Station along with the new US embassy to be built nearby.

Posted by sibley's b'stard child @ 11:44 AM (2155 views)
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14 thoughts on “Whoosh! Catch us if you can.

  • Estate agent today, unemployed tomorrow.

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  • What are our leaders doing to put a stop to this insanity?

    We can’t have a capital city where most of the workers can’t afford to live there, and what how does having the new US embassy nearby affect prices in that area when most workers in the embassy are public servants on about £30k a year?

    We have a city full of foreign investors who have borrowed from dodgy banks, and they dare to ask us why we think we have lost our national identity.

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  • Wow 118% !! That’s a huge rise! That’s more than double the current value!

    Are you sure the editorial is to be trusted?

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  • Isn’t there a fairly basic flaw in the argument which says that house prices will rocket because they have rocketed?

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  • @4 … and this lady is “Head of Research” ?? Really?! She pretty much falls at the first hurdle, in fact, the starting blocks.

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  • the sums will never add up, pure BS to scare people into buying overpriced properties

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  • the end of the Euro is nigh. When this happens we will start to see a change in the currency market and the pound may be seen as a wee bit of a safer currency than it is at present. If the pound appreciates 10-20% then prime London property may not be seen as such a good money spinner as it has been ( although it will still be seen as a safe haven, especially as the stock market is due for another big crash). If Greek leave the Euro their currency is predicted to drop by 60%. Time to think about a holiday home in Greece!

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  • I predict a Riot or 2….

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  • I predict a Riot or 2….

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  • A couple of years ago there was a 20% devaluation of GBP against a basket of currencies.. This made London property relatively cheaper for foreign high flyers. More business men, industrailists, VI etc

    GBP has not lost ground against other currencies recently so it can not be currency advantage.

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  • Rent certainly seem to be heading up in London!

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  • “Qu’ils mangent de la brioche”

    Just shows how London (inner London) is so far removed financially and politically from the rest of the country. What property prices do in the capital is no measure of the health of the UK market as a whole.

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  • There are two correlations to note here: Sterling with equities and secondly housing with equities. Causality is always an interesting debate but I suspect equities are leaders.

    So no worries there then.

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  • There are two correlations to note here: Sterling with equities and secondly housing with equities. Causality is always an interesting debate but I suspect equities are leaders.

    So no worries there then.

    Reply
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