London property bubble 'about to burst'

AndyGuil

UrWntr wrote: »

Very interesting, please could you shares your sources for:

a) 80% of the purchases in London are cash buys

and

b) The high value houses in London are skewing the data

No problem. There is quite a lot of useful info out there.
Cash buyers http://www.bbc.co.uk/news/business-13116262
London house sales http://www.moneyweek.com/blog/the-truth-about-soaring-cash-sales-in-the-housing-market-54220

UrWntr

AndyGuil wrote: »

No problem. There is quite a lot of useful info out there.
Cash buyers http://www.bbc.co.uk/news/business-13116262
London house sales http://www.moneyweek.com/blog/the-truth-about-soaring-cash-sales-in-the-housing-market-54220

I stopped reading after I saw "SOME areas of London are UP TO 80%”.


As expected.

AndyGuil

UrWntr wrote: »

I stopped reading after I saw "SOME areas of London are UP TO 80%”.


As expected.

Interesting articles. There is a whole spectrum of areas in London (hence up to) and the link shows that the higher value end of the market is doing very well. There seems to be a lot of foreign investment coming in, this is probably why the cash buyer amounts are so high.

UrWntr

I've added you to my ignore list because I don't trust myself to not argue with you all day/night/year/life (I have a problem).

All the best. I hope your predictions come true.

Mr._Pricklepants

Andy...sometimes it's wise just to say "I was wrong".

AndyGuil

UrWntr wrote: »

I've added you to my ignore list because I don't trust myself to not argue with you all day/night/year/life (I have a look problem).

All the best. I hope your predictions come true.

Yes, no arguing with sources.

AndyGuil

Mr._Pricklepants wrote: »

Andy...sometimes it's wise just to say "I was wrong".

Clearly missed that I provided sources. A little more than some do around here.

Mr._Pricklepants

AndyGuil wrote: »

Clearly missed that I provided sources. A little more than some do around here.

Your sources said "in some areas".

Anyway, I'm done with you also. Happy trolling.

By the way, did you get any wiser about your asking prices (230K) and selling prices (160K) conundrum? :rotfl:

AndyGuil

Mr._Pricklepants wrote: »

Your sources said "in some areas".

Anyway, I'm done with you also. Happy trolling.

By the way, did you get any wiser about your asking prices (230K) and selling prices (160K) conundrum? :rotfl:

Trolling?! You are a little naive to what is happening out there, you can't accept it and that is your loss.

Not all areas in London are equal and London is a vast area, it is needless to say that it is obvious there is a range. There are some areas that would not attract much investment and others that are exceptional.

There is a disconnect between asking prices and selling prices. It is not a conundrum, it is an observation made on there being a difference. The amount I couldn't care less, but the difference is there. Asking prices does equal selling prices.

sabretoothtigger

AndyGuil wrote: »

Interesting articles. There is a whole spectrum of areas in London (hence up to) and the link shows that the higher value end of the market is doing very well. There seems to be a lot of foreign investment coming in, this is probably why the cash buyer amounts are so high.

There is a theme globally for a while now that luxury top end goods are not in recession.
At the top end of the money flow there is alot of loose money available.

Maybe this is an offset of QE which I think is about dealing lots of £100,000 bonds so I presume it would help those with that as pocket change first and foremost especially entrepreneurs and international business

http://moneyland.time.com/2011/08/23/16-4-million-ferrari-sets-new-record-for-most-expensive-car/

http://www.vanityfair.com/culture/2012/02/qatar-buys-cezanne-card-players-201202

Not a coincidence. Anyone remember at the end of the eighties that crazy price paid by a Japanese businessman for a Van gogh. That was set upon a gigantic boom/bust scenario also