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Hometrack:+25% in some areas, Sharpest price rises in 6 years, insufficient supply
Comments
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I know someone who recently sold a flat they bought in SW London for 33% more than he paid for it 3 years ago. The first person to see it offered £25k over asking - never made it to rightmove. Mind you he hasn't completed yet...
The flip side to this is that I distinctly remember house prices in Brixton increasing by about 25% in a year before (notwithstanding the fact that the article's evidence that prices are up by 25% is an estate agent just saying that they are rather than any measurable data). That was in 2007 just before the wheels came off.
Just sayin!
Whatever happens, when people are fighting over average flats in Brixton you know something has gone wrong! (Someone who lives in Brixton will be along in a moment to say that Brixton is really nice now - Brixton is of course very nice compared to Stockwell...)0 -
chewmylegoff wrote: »when people are fighting over average flats in Brixton you know something has gone wrong!
Completely agree.
Of course, that "something" is more likely to be record low housebuilding for 5 years worsening the housing shortage to crisis levels, than there being a credit driven speculative bubble given that mortgages continue to be severely rationed.
The only way to fix a housing shortage is to build more houses.
Rationing credit only worsens the situation, and we end up with complete lunacy like people fighting over flats in Brixton.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
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HAMISH_MCTAVISH wrote: »
Rationing credit only worsens the situation, and we end up with complete lunacy like people fighting over flats in Brixton.
At least if they are fighting over flats they are not rioting."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
They are entitled to their opinion, even if it is somewhat deluded, just expressing my personal and recent experience.
A relatives property has just sold within a week, progressing well, at just under the asking price north of Watford Gap.
It is in an great location and well maintained.
There will always be demand for good stuff.
There is so much badly presented and uncared for tat on the market - some people shouldn't be allowed to be home owners it is cruel."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Tell you something.
The HPC gang have all gone despondent.
Back to the good old days. Ramping threads, I'm hard done by etc.We love Sarah O Grady0
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