Saturday, Aug 29, 2015

Enfield now has the second fastest house prices in the uk

Land registry Aug stats: I told you so

At 13.9% it is now second fastest growing, up from third last month, just pinched to the top spot by Hillingdon at 14.8%

Posted by libertas @ 12:58 AM (5617 views)
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24 Comments

1. Libertas said...

Oops. Here is the unbroken link.


https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/455701/July_HPI_2015.pdf

Friday, August 28, 2015 11:59PM Report Comment
 

2. libertas said...

Oops, here is the unbroken link

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/455701/July_HPI_2015.pdf

Saturday, August 29, 2015 12:00AM Report Comment
 

3. mister ed said...

And the schools are still dire.

Saturday, August 29, 2015 01:02AM Report Comment
 

4. Mrarmadillo said...

Can't we move this to the regional house price forums where it belongs? I imagine those of us who don't live in Enfield don't really care that much.

Saturday, August 29, 2015 01:43AM Report Comment
 

5. reticent said...

Yawn.

Saturday, August 29, 2015 07:52AM Report Comment
 

6. khards said...

How amusing..

Why do you care? You must plan on selling up and moving somewhere nicer (cheaper) in a few years?

Saturday, August 29, 2015 08:29AM Report Comment
 

7. icarus said...

libertas - you really should do this only in the privacy of your own home.

Saturday, August 29, 2015 08:29AM Report Comment
 

8. quiet guy said...

Remember, this is 'penance' by Libertas.
See comment 14 at http://www.housepricecrash.co.uk/newsblog/2015/06/blog-rentiers-tighten-their-grip-111426.php
Presuably, the higher prices go, the greater the gloating - ergh, I mean penance - will be.

I was interested in the repossession rate graph:

Image and video hosting by TinyPic

and the Sales volumes by price range:
- England and Wales down 15%
- London down 25%

Saturday, August 29, 2015 09:24AM Report Comment
 

9. jack c said...

libertas - you've come 180 degrees from your days of posting as planning4acrash which has me revisiting "when the last bear turns bull"

Good luck with your purchase but it's really all rather boring to hear it ramped week in week out. On a further serious note just how do you crystallise your gain ?

Saturday, August 29, 2015 09:51AM Report Comment
 

10. libertas said...

Jack c, we can already use our gain to take out a home improvement loan to build a rear and loft extension.

And no, I did not turn bullish. I simply identified that those talking down the housing market were wealthy people who already own a place outright and are debating on housing vs stocks, vs bonds, vs cash, etc. whereas these people cannot speak for those who have a choice of rent vs buying. They ignore that half of mortgage payments pay off the principle, and that a house can fall in price maybe 2.5% per year for 25yrs and you are still better off with a mortgage vs renting. Then I discovered that there are affordable hot spots if you look for where new infrastructure is coming in and get in there before it gets built.

Saturday, August 29, 2015 12:57PM Report Comment
 

11. Tpsman said...

I'd rather leave the country than buy in Enfield or Edmonton.

Saturday, August 29, 2015 02:59PM Report Comment
 

12. cyril said...

@8 I hate to be pedantic but you're not really crystallising your gain, you're just taking out a bigger loan.

Saturday, August 29, 2015 04:45PM Report Comment
 

13. libertas said...

Oh contraire, we will convert the loft into a defacto studio and rent it out for double the re-payments of the home improvement loan, with cash left over for a rear extension and internal refurb. We will not only make a profit on the home improvements, but will also have somebody else pay for the privilege, with the higher re-payments causing us to pay off the whole loan in less than 15yrs.

Plus, our area is slowly equalising with presently more expensive locations due to the London Overground putting us on the tube map, with areas around potential Crossrail 2 stations beginning to surge from a very low base.

All eyes should be on the next Overground concession to be announced, maybe in three or so years, for the next similar opportunity, but Crossrail 2, if supported in the Autumn by the Chancellor, will be the next huge opportunity, particularly for the Lee Valley, because it will see services levels soar from 2 trains per hour to at least 16 trains per hour, 4 trains to Stratford, 12 trains per hour to the West End and beyond to Clapham Junction and Surrey.

Saturday, August 29, 2015 09:56PM Report Comment
 

14. libertas said...

I will not post anything more about Enfield until the August Stats come out, September 28th.

I expect a further softening of national growth, combined with Enfield over-taking Hillingdon to reach pole position. Valuations here are going crazy. As said, properties previously going for 300k, just before the new Overground, are now going above 400k, and areas on the extended East London Line saw typical 3 bed terraces leap from around 300k to 650k in a short time.

Fact is, folk hate the tube, and really like these nice, modernised Overground links. Crossrail 2 will be a huge draw because again, it is proper, comfortable, air conditioned trains that do not feel like being in a tube train.

Sunday, August 30, 2015 04:32AM Report Comment
 

15. icarus said...

From 'London 2036', a recent report by London First

"However, London cannot rely on devolution alone. Infrastructure will be needed, whether or not a political settlement on fiscal devolution is reached. Therefore focus also needs to be given to alternative funding mechanisms, not all of which require further formal devolution and many of which are explored in the draft London Infrastructure Plan. In particular, looking at international success cases such as the Hong Kong MTRs rail and property model , we would advocate a greater focus on capturing the property values uplift associated with investment in new transport infrastructure. For example, in the case of Crossrail 2 this might mean a more intense level of development around stations, with use of the Community Infrastructure Levy to capture more of the uplift in land values to pay for development."

Reports quoted to support this paragraph:

RSA City Growth Commission, Unleashing Metro Growth: Final recommendations of the City Growth Commission, October 2014

London Finance Commission, Raising the capital The report of the London Finance Commission, May 2013

MTR, Sharon Liu, Chief Town Planning Manager, The Rail + Property Model: Hong Kong MTRs Experience, December 2013

London First, Funding Crossrail 2, February 2014

Sunday, August 30, 2015 01:34PM Report Comment
 

16. sibley's b'stard child said...

Bravo Libby. Not only will you be sharing your home with a complete stranger but also borrowed more money on top of your mortgage, with no idea how your illusory gains will be realised. Living the HPI dream fella.

Sunday, August 30, 2015 07:27PM Report Comment
 

17. libertas said...

For a few years, Sibley, we will have a Monday to Friday, or more likely, Monday to Thursday lodger, paying through the nose. They will have their own kitchen, bedroom and bathroom and will not be allowed into our part of the house.

Sunday, August 30, 2015 08:29PM Report Comment
 

18. libertas said...

And the first 7500 after interest payments is TAX FREE. Equivalent to a 10k plus pay rise.

Sunday, August 30, 2015 08:30PM Report Comment
 

19. libertas said...

Icarus, indeed, but community infrastructure levy does not apply to residential extensions. It will focus solely on the construction of new houses.

Sunday, August 30, 2015 08:58PM Report Comment
 

20. icarus said...

libertas - but the CI levy was mentioned as just one example of the recommended 'greater focus on capturing the property values uplift associated with investment in new transport infrastructure'.

Sunday, August 30, 2015 10:10PM Report Comment
 

21. sibley's b'stard child said...

Presumably they'll climb through the roof.

Sunday, August 30, 2015 11:14PM Report Comment
 

22. jack c said...

@ libertas - you will need the lenders permission for your proposals together with a consent to mortgage form

Sib's - good to see you drop in (hope all is well)

Monday, August 31, 2015 08:45AM Report Comment
 

23. pete green said...

I note that Enfield is in the news today with prospective lodgers excising the 'right' to bare arms. Sounds delightful. Are bullet proof vests tax deductible?

Monday, August 31, 2015 09:25AM Report Comment
 

24. mister ed said...

@20
Everybody knows that murder, drive-by shootings and riots are a sign of gentrification. It's only a matter of time before Enfield schools are among the best in the country.

Monday, August 31, 2015 11:21AM Report Comment
 

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