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Debate House Prices
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Will London HPI exceed 10% in 2012?
nollag2006
Posts: 2,638 Forumite
Today's LR figures show that London house prices have risen 4.2% over the past year, despite the economic uncertainty and gloomy predictions for much of the past year.
In January, my view was that London house prices would rise between 5 and 8% this year, but there does seem to be some merit to the view that house price growth will surge into double digits in the capital this year.
Result!
:beer:
In January, my view was that London house prices would rise between 5 and 8% this year, but there does seem to be some merit to the view that house price growth will surge into double digits in the capital this year.
Result!
:beer:
0
Comments
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Well it's been a smashing start to the year and I, and all my colleagues around me, believe that this second leg up will be the big one. Current advice to all FTBs is buy now, get one with you life, and start paying down your own mortgage. It's standard advice these days.
Thumbs up for the good thread.
My advice to FTBs is beware of those that clearly enjoy or benefit from HPI. They need you to buy, so they aren't going to tell you to wait are they ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
It's not my advice to tell them to buy, it's the obvious advice to the unstupid from all the positive indicators we're reading each day.
Well, I'm looking at the indicators, and there seem to be more negative than positive ones at the moment. Not saying that FTBs should or shouldn't buy right now, they have to make their own minds up. They don't need you to keep trying to do it for them.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Well, I'm looking at the indicators, and there seem to be more negative than positive ones at the moment. Not saying that FTBs should or shouldn't buy right now, they have to make their own minds up. They don't need you to keep trying to do it for them.
Did you look at all the indicators before you made up your own mind?
I, like everyone I know, needed to live somewhere, decided I'd quite like to buy, saved up a bit, got a mortgage and got on with it.0 -
nollag2006 wrote: »Today's LR figures show that London house prices have risen 4.2% over the past year,
But that was before the stamp duty loop hole closure, with every one rushing to beat it. Now London estate agents use the word Meltdown in London property. Any way that doesn't effect Hounslow area, aren't prices falling and its the cheapest place to buy in West London?
Hounslow
By the way Nollag how many shops have closed in the town centre today?:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Did you look at all the indicators before you made up your own mind?
I, like everyone I know, needed to live somewhere, decided I'd quite like to buy, saved up a bit, got a mortgage and got on with it.
Same here. But that's because I live in the real world, not some fantasy world constructed by a handful of contributors to this forum - at both ends of the crash/boom spectrum.0 -
Same here. But that's because I live in the real world, not some fantasy world constructed by a handful of contributors to this forum - at both ends of the crash/boom spectrum.
What I really did was go on an internet forum where a couple of dozen visit daily then looked for an obvious sockie with 25 posts and took their advice to buy.
I lied about just buying a house because I wanted one so I appeared normal.0 -
Did you look at all the indicators before you made up your own mind?
No. And I didn't listen to those that told me to "buy now" a few years earlier, when I was in a position to be able to buy (just about). I bought when I felt the time was right for me, not because I thought I was going to "miss out", or some property ramper told me to do it.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
London is just the UK's toilet now, I used to have family in SW19 and Raynes Park close by and have many happy memorys from London in the past.
These days it is hard to recognize the place, was in Ealing and Greenford recently, what a dump it is now, in my motorbike days we used to hang out at Ace cafe on the 406, what a wonderful place it was back then, and when you talk to the old codgers from the 1950's they are heartbroken in the way London has turned out now.
Still love the southbank and the Strand and Embankment and west end areas, never been better, but the rest, YUK!!!
Would not live there the way it is if prices dropped 70%0 -
But that was before the stamp duty loop hole closure, with every one rushing to beat it.
it was leaked on what, tuesday, and confirmed in the budget on wednesday, to become effective from midnight on wednesday. what ever the reason for the 4% YoY increase in prices, i'm pretty sure it has nothing to do with people rushing to buy £2 million+ houses in a 36 hour period earlier this week.
the reason i can be so sure is that the land registry's YoY figures don't actually include that 36 hour period.0 -
homelessskilledworker wrote: »London is just the UK's toilet now
Would not live there the way it is if prices dropped 70%
From recent experience, I have to agree.
A recent day's visit for work was, again, a depressing experience. I commented to my colleague that a lot of the property looked very run down (and yet I knew that the asking price of such property would probably be quite high). Now I know that there are some very nice areas of London, but as far as I was concerned, we were taking a "random" route through the city to Crystal Palace (I think it involved Battersea and Hammersmith Bridge, but I'm not sure as I don't know the place that well).30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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