'We've reached a tipping point' Signs of house price weakness

wotsthat

Bubble_and_Squeak wrote: »

hometrack is a lead indicator

I don't really know what Hometrack is. How do they know what sold prices were in September to be able to calculate % of asking price achieved?

Is this another symptom of the crashoholic? An index is gospel only when it shows prices are falling?

wotsthat

Crashy_Time wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/195761-is-prime-london-crashing/page-170

Remember, not everyone will get out of a Ponzi with their "equity" intact, in this instance panicking (and dropping price early) might be the way to go?

That thread asking if prime London is crashing has been going since January. The thread starter, Damik, gets himself really excited as he posts proof of this 10 months later when prices are somewhat higher. I can only assume he really enjoys irony.

Bubble_and_Squeak

padington wrote: »

Funnily enough, I've never had such a steep Zoopla increase as today, they whacked up my place by 3.4% for some random reason.

zoopla being the operative word in this sentence

Bubble_and_Squeak

chucknorris wrote: »

Value is extremely subjective, it might just be that London property prices will never again look like value to you (and possibly me also, but then we already have 8), but the point is that it may look like enough value for others to buy, therefore locking you out for the future, what then?

SKEEN! london is overvalued
but
i'd rather pay over the odds and get too and from work in a few minutes rather than commute from outside so i'm willing to pony up
however, april time was a blatant bubble so i opted to sit tight and rent while the market cooled
and it looks like its cooling

Bubble_and_Squeak

In_For_A_Penny wrote: »

That's some pretty tentative stuff right there. . .

0.1% fall (in one monthly snapshot of one region in the UK) and an admission that still over 96% of houses are meeting the asking price. . . and yet the headline reads "Timberrrrr"

You're not really convincing anyone with this drivel.

i think its an average of the asking price being achieved rather than a percentage of properties achieving the asking price
could be wrong, though
maybe the oracle of the indices (hamish) could clarify?

Bubble_and_Squeak

padington wrote: »

I was in Muswell hill yesterday to visit my uncle, he said that everyone they knew had moved out of the street and loads of young people had moved in. My aunt said they all pretty much work for the financial sector these days. Every house was done up to the nines with lots of porches around.

So it's not the average wage for teachers, actors and middle managers you need to consider when competing in the housing market for a place in Muswell hill any more, it's the average wage of the high flying global financial sector workers.

Says it all really. Global cities command global prices.

i was there too yesterday
maybe we crossed paths!
i have to say the area around the main roundabout bit looks awful these days
superficially, it looks like its gone downhill since my last visit a few years back

Bubble_and_Squeak

wotsthat wrote: »

That thread asking if prime London is crashing has been going since January. The thread starter, Damik, gets himself really excited as he posts proof of this 10 months later when prices are somewhat higher. I can only assume he really enjoys irony.

didn't prime london peak around january?

Crashy_Time

In_For_A_Penny wrote: »

That's some pretty tentative stuff right there. . .

0.1% fall (in one monthly snapshot of one region in the UK) and an admission that still over 96% of houses are meeting the asking price. . . and yet the headline reads "Timberrrrr"

You're not really convincing anyone with this drivel.

http://www.thetimes.co.uk/tto/life/property/londonhomes/article4226749.ece


Whether or not you choose to believe the stats behind these articles you have to acknowledge that it won`t do sentiment much good?

Crashy_Time

padington wrote: »

I was in Muswell hill yesterday to visit my uncle, he said that everyone they knew had moved out of the street and loads of young people had moved in. My aunt said they all pretty much work for the financial sector these days. Every house was done up to the nines with lots of porches around.

So it's not the average wage for teachers, actors and middle managers you need to consider when competing in the housing market for a place in Muswell hill any more, it's the average wage of the high flying global financial sector workers.

Says it all really. Global cities command global prices.

:rotfl:


http://www.youtube.com/watch?feature=player_embedded&v=2NQIPVqLMUg

padington

Crashy_Time wrote: »

:rotfl:


http://www.youtube.com/watch?feature=player_embedded&v=2NQIPVqLMUg

The simple facts always escape you. How else could someone afford to buy a 1.5 plus million house if they were a teacher from a humble background.

It's just an indisputable fact that new house buyers in Muswell hill must be from a unusually well financed demographic.

... And that's a clear shot to the bow for anyone clinging on to the idea that average wages is the key determinant with house prices in an extremely not average city.