How far will prices fall in London?

chucky

i've seen 80% expect 90% by Jan 2009

StevieJ

chucky wrote: »

i've seen 80% expect 90% by Jan 2009

I will see your 90 and raise you 5 :rolleyes:

beingjdc

pickledpink wrote: »

Traffic has got much, much faster in London sice the Congestion Charge was brought in!!!!!:rotfl: :rotfl: :rotfl:

I am tempted to say something about it taking me an hour to get from Elephant to Bricklayers last Tuesday night, but I guess that's just outside the Zone...

neverdespairgirl

beingjdc wrote: »

I am tempted to say something about it taking me an hour to get from Elephant to Bricklayers last Tuesday night, but I guess that's just outside the Zone...

Yeah, but so is Dulwich, and that doesn't bother PP. She thinks she can drive it in 10 minutes or whatever (-:

rumbaba

My husband drives through London five days a week and he finds the traffic less congested since the CC charge came into force. That was the whole point of bringing the CC charge in; that, and to help air quality.

mitchaa

HankMcSpank wrote: »

We need to keep reminding ourselves - the average UK salary is £23k...with the average prob nearer £30k for London, therefore 4x average London salary for a very average London house.

No no no no no:wall:

We have done this 1 to death already.

The average salary may have been £23k back in 2004, today it is over £26k.

Why should 1 average income person be able to afford an average home? It doesn't work like this otherwise you get into the scenario of middle income couples buying castles.

Think about it.

RDB

Can we forget how long it takes to get wherever in London.

This is all about house prices.

Also whoever started all this 80 or 90% drops?

I am sticking with my 50% down in London by the end of next year. Maybe the year after.

I base this on the fact that full effects of the crisis havent yet been shown.

Next year its going to be very hard to get a mortgage and repossession
are going to be everywhere.

If someone disagrees please give reasons.

mitchaa

London has the furthest to fall compared to anywhere else in the UK so in theory it should be hit the hardest.

Based on the basis of affordability. (Salary vs income multiples needed)

Anyone like to disagree with that? If so, please give reasons

Yoshua

I agree with the 50% drop but I think it will take a bit longer.

These things take time. People increasingly can put off the inevitable repossession by further borrowing. It just makes the problem worse when the time comes, but the point Im making is it wont all happen by next year. More like by 2010 will we see 50% average drops.

neverdespairgirl

pickledpink wrote: »

Do you really live in London, NDG????

I'm beginning to doubt that too!

Traffic has got much, much faster in London sice the Congestion Charge was brought in!!!!!:rotfl: :rotfl: :rotfl:

Maybe you're a biker - but I drive through London regularly (and have done for many years) and traffic is MUCH faster han it used to be!

How can you come out with such a stupid statement???:eek:

<sigh>

that'll be another apology you owe me, then:

Traffic in the morning rush hour is now slower than before Ken Livingstone brought in the congestion charge.
Transport for London figures also show that journey times during the day and evening peak in central London have increased, after initially falling.


http://www.thisislondon.co.uk/standard/article-23419705-details/Rush-hour+is+slower+than+before+C-charge/article.do