Greek London Home ScandelIs there any sign of the London po

sabretoothtigger

Brit is probably right in pointing to the contrast. We sit between giants, Euro and Dollar and while both are weak even in our tatters we look good, when either changes or some alternative appears we will be in the emperors clothes at that point. Till then its all perception I guess

It has created a bubble on a bubble and when the London bubble pops the house price crash will increase dramatically.

Yes international money and Sterling is a very minor reserve currency. People hold it in order to buy other things, if you own an asset you can produce sterling in borrowings against it
I expect housing to do ok relative to cash in cities with international business, it may crash but also boom with all the loose money you cannot expect prices to drop dramatically.
We are talking long term 1st tier assets when we speak central London, good as gold in some cases no doubt

Either sterling gets weak and houses do ok or vice versa, its not much sense to say we have tons of cash from QE [lower bond prices should make loose cash while rates rise inflation rises faster] and loose money sloshing round but call for house price drops in one of the largest internationally visited cities in the world. That wont change in my opinion

FTBFun

brit1234 wrote: »

Its not irrelevant. Foreign buyers willing to buy central London properties at any price causes displacement of those who would of bought there before causing a ripple effect outwards based on their levels of salary pushing up prices in more outer areas.

An example is people in my wage bracket. Where before London workers who could by a house in mid London now can only by a flat so they now buy houses on the edge or the next town down the railway line.

Are you deluded - do you honestly think back in the day the average Londoner was buying up property in prime areas like Knightsbridge, Kensington etc?

Graham_Devon

FTBFun wrote: »

Are you deluded - do you honestly think back in the day the average Londoner was buying up property in prime areas like Knightsbridge, Kensington etc?

They were actually.

There was a programme about the 1970's on the BBC not long ago. Maybe not specifically those areas, but younger people took these on as DIY projects with the DIY boom started in the 60's / 70's.

The affluent were leaving the London style property in search of new builds in the suburbs, that had internal toilets etc. Working in, but not living in the rat race was the new fashion. That meant the wealthy exploring further out and picking up new, luxury pads, and the less wealthy moving into the older, more basic town houses, still with outdoor loo's etc.

FTBFun

FTBFun wrote: »

There was a post on this a while ago, I'll see later if I can dig it out.

https://forums.moneysavingexpert.com/discussion/3990233

This is what I was referring to - there's a link to a report there re prime property.

FTBFun

Graham_Devon wrote: »

They were actually.

There was a programme about the 1970's on the BBC not long ago. Maybe not specifically those areas, but younger people took these on as DIY projects with the DIY boom started in the 60's / 70's.

The affluent were leaving the London style property in search of new builds in the suburbs, that had internal toilets etc. Working in, but not living in the rat race was the new fashion. That meant the wealthy exploring further out and picking up new, luxury pads, and the less wealthy moving into the older, more basic town houses, still with outdoor loo's etc.

Is this still on iplayer?

Graham_Devon

FTBFun wrote: »

Is this still on iplayer?

I doubt it.

brit1234

FTBFun wrote: »

Are you deluded - do you honestly think back in the day the average Londoner was buying up property in prime areas like Knightsbridge, Kensington etc?

No, not at all, its just you can't read.

I said mid London as in average family London not high end place next to Buck Gate.

I really can't believe how stupid some people are.

FTBFun

brit1234 wrote: »

No, not at all, its just you can't read.

I said mid London as in average family London not high end place next to Buck Gate.

I really can't believe how stupid some people are.

How's that "50% off in 4 years" prediction going?

ukcarper

I was working in outer London in the 1970s and earning the equivalent of £30k and I would have loved to have bought in outer London but had to move 30 miles out and commute.

purch

Is there any sign of the London po

the London what :eek: