Yanks Ask Has London Gone Mad ?

Generali

AndyGuil wrote: »

PWC- London average price to hit £500k next year. http://www.cityam.com/1404868931/average-london-house-price-hit-500k-next-year

That seems very conservative given current growth rates.

the_flying_pig

Generali wrote: »

... The heat will go out of the market unless anyone really thinks that this house will sell for £10,000,000 in a decade, £95,000,000 a decade onwards and a billion quid 11 years after that (compounding 25% pa rises).

well, maybe if they get a loft conversion & the side return done :cool:

mystic_trev

London's soaraway property market is running out of steam, according to the latest report from the Royal Institution of Chartered Surveyors, whose member estate agents now predict prices to fall in the capital while they rise elsewhere.

http://www.dailymail.co.uk/money/mortgageshome/article-2687161/More-buyer-caution-house-prices-country-start-cool.html

Oh dear, what a pity, never mind...

AndyGuil

mystic_trev wrote: »

http://www.dailymail.co.uk/money/mortgageshome/article-2687161/More-buyer-caution-house-prices-country-start-cool.html

Oh dear, what a pity, never mind...

It usually does settle down in Q3. A result of supply peaking and demand lowering that happens every year before supply drops off.

Graham_Devon

Check this out then...

Estate agents are marketing a London Flat, up for £125,000.

When they say flat, they mean, errr, garage.

They marketing blurb states that the property has "just enough space to fit a single bed".

It had a queue of buyers apparently, but the owner has instead decided to rent it out....for £700 a month!!!

Not mortgageable, and inspectors from Islington council said it was too small to be habitable, which means they may not be able to sell it as a "flat"...... but hey, you can rent it!

http://www.theguardian.com/money/2014/jul/10/125-thousand-pounds-brixton-flat

London, the only place you will need a full time job to live in a garage....