2012 South East Housing Boom?

wecanhelpu

kyleweb wrote: »

I am less hopeful about the olympics raising house prices but as I have just bought in crystal palace, i am hoping that that tube extension will boost prices in that area when it comes about in 3yrs.

So what you're sying is

"I don't want HPI or think it will happen in East London because I don't live there.

But I do want HPI where I live".

!!!!!!?

Remind me again please - what is good about continued HPI?

wolvoman

porridge wrote: »

So would you say most homes are bought on one salary?......No, so add her income to yours and i'm sure you will find that you can afford a home, possibly might even have enough left over for BTL.

Interesting...... but isn't the increase of single people one of the main causes for house prices rices in recent years?

You can't on the one hand argue that increased demand from more single people drives up prices, and then at the same time suggest that houses are affordable because people don't buy them by themselves.

And incidentally, in and around London, a vast majority of FTB are single. Indeed I do not know a single person who has bought their first home as a couple. 2nd home yes, but not first.

pollyanna24

I bought my first house as a couple - I was 21 and in Luton. Not sure if that counts as around London or not.

Second house in Watford, bought last year. Am 26 now. Again as a couple.

wolvoman

pollyanna24 wrote: »

I bought my first house as a couple - I was 21 and in Luton. Not sure if that counts as around London or not.

Second house in Watford, bought last year. Am 26 now. Again as a couple.

I'm not saying it doesn't happen, neither am I even saying it is rare.

But I do think it's a silly argument in response to the house price vs salary ratio to suggest that people buy in couples. It's very presumptuous, and a presumption that around London is often wrong.

pinkkaz

Umm, my friends and I seem to be getting on the property ladder at the same time this year. We are all first time buyers and would not be able to afford to buy if it wasn't for the fact we are all buying with partners.

thesaint

dannyboycey wrote: »

Using Times New Roman does not make your argument any more credible.

Is there a font that would make anything you say at all credible?;)

kyleweb

Doozergirl wrote: »

Are you joking? Hype over the tube extension has already sent prices sky rocketing over the last couple of years! I bought a 2 bed flat near the train station last year for £127,500 - you'll be lucky to get a studio flat for that now!

It's pure speculation and it's all the EAs are talking about, whipping FTBs into a frenzy. I cannot see there being very much more room for manouvre unless all the investment that was supposed to be going in to the entrance to the park and surrounding area actually appears and makes it the leafy, desirable area it could be. Otherwise, prices aren't going much higher for a long while yet.

Whether it does or not I am not worried as bought there for the area not to speculate on prices rising.

however have done an awful lot of research on the effect of added transport links and seems most have two periods of growth;

one 3-5years before the project as developers move in based on approval of plans and a second in the year leading up to and year after actually being put in place.

Also currently prices in upper norwood, anerley and to some extent (but much lesser) crystal palace are far below what you would expect to pay for a similar area connect to the tube network.

Whether it happens or not I have got a HOME that i will be glad to live in, in an area that I really like.

Conrad

I'm a B2Ler who's getting out of UK residential property.

Japan had a much higher population density that the UK and near zero rates yet prices crashed for 15 years straight.

Sentiment is everything. Most LLs I know are selling up and awaiting the big crash in order to take candy from the last in the queue boom boys

thesaint

Conrad wrote: »

I'm a B2Ler who's getting out of UK residential property.

Japan had a much higher population density that the UK and near zero rates yet prices crashed for 15 years straight.

Sentiment is everything. Most LLs I know are selling up and awaiting the big crash in order to take candy from the last in the queue boom boys

Now I know nothing about the Japanese market, but what do you call a 'Crash" if a market can "Crash" for 15 years straight?

ManAtHome

A BIG crash..?