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Debate House Prices


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London property falling by 72% a year!

macaque_2
macaque_2 Posts: 2,439 Forumite
in Debate House Prices & the Economy
The mainstream press have not picked up on this yet:
However, I have just also been sent some even more interesting numbers from estate agent John D Wood. These track not completion but exchange prices of London houses, and so are much more up-to-date than most.

London property is crashing at a rate of 72% a year!
They also prove that prime prices are not remotely resilient.
In the last quarter the price of a house in Kensington or Holland Park has fallen by around 18%

As they always say markets are driven by greed and fear. Fear has finally got the upper hand.

Simian Macaque ADHD
CEO 70% club

http://www.moneyweek.com/blog/prime-house-prices-may-crash-harder-than-the-rest-00239.aspx
«134

Comments

  • RDB
    RDB Posts: 872 Forumite
    macaque wrote: »
    The mainstream press have not picked up on this yet:



    London property is crashing at a rate of 72% a year!



    As they always say markets are driven by greed and fear. Fear has finally got the upper hand.

    Simian Macaque ADHD
    CEO 70% club

    http://www.moneyweek.com/blog/prime-house-prices-may-crash-harder-than-the-rest-00239.aspx



    I dont yet see where this 72% figure comes from?

    Anyway before anyone else says it. The 70% club ........ well no I will leave it for someone else who is actually in the 70% club.
  • Dirk_Rambo
    Dirk_Rambo Posts: 387 Forumite
    macaque wrote: »

    London property is crashing at a rate of 72% a year!

    peopel laffed at me when i joined the 70 per cent club. but they aint laffing now
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Dirk_Rambo wrote: »
    peopel laffed at me when i joined the 70 per cent club. but they aint laffing now

    that's because you were only funny for 1 post.
  • 1984ReturnsForReal_2
    1984ReturnsForReal_2 Posts: 15,431 Forumite
    chewmylegoff wrote: »
    that's because you were only funny for 1 post.




    oooooooooooooouch
    Not Again
  • MrGrumpie
    MrGrumpie Posts: 13 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Nonsense threads like this should be closed. Don't feed the troll.....
  • julieq
    julieq Posts: 2,603 Forumite
    Actually even 4 quarters at 18% wouldn't make 72%. It makes about 45%

    Macaque maths = FAIL.
  • dunstonh
    dunstonh Posts: 120,211 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    72%..... People may actually be able to afford to buy houses to live in London in 5 years time.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Linton
    Linton Posts: 18,350 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    dunstonh wrote: »
    72%..... People may actually be able to afford to buy houses to live in London in 5 years time.

    And in 10 years time they will be down to a thirtieth of their current price. Then everybody will be able to have one and perhaps a weekend cottage in the country as well. Bear heaven!!!
  • michaels
    michaels Posts: 29,231 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    So extrapolating down by the 70% club is fine, whereas extrapolating up by the Scottish fanboys club is pure lunacy?
    macaque wrote: »
    The mainstream press have not picked up on this yet:



    London property is crashing at a rate of 72% a year!



    As they always say markets are driven by greed and fear. Fear has finally got the upper hand.

    Simian Macaque ADHD
    CEO 70% club

    http://www.moneyweek.com/blog/prime-house-prices-may-crash-harder-than-the-rest-00239.aspx
    I think....
  • kimsmarkin
    kimsmarkin Posts: 5 Forumite
    The source of income in the United Kingdom can now afford to buy 58% of all households, significantly from the top of the housing market in 2007 when only 34% of homes were affordable. In the past 10 years, affordability levels peaked in 2002-66%, then declined steadily over the next five years.
    The only thing we have to fear is fear itself
This discussion has been closed.
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