London Has Peaked

Bubble_and_Squeak

wotsthat wrote: »

If the indices are suggesting rising prices then that suggests... errr... rising prices.

It wasn't many moons ago you were saying MMR would lead to lower prices but now you're saying MMR has led to higher prices instead. Is the argument now only the houses selling are increasing in price whilst those not on sale are falling in value?

Let me know if you need a hand looking for the plot.

its an interesting situation. two colleagues are currently selling up and moving out of london. both have triumphed in their respective bidding wars (one in essex the other in hertfordshire) but both need to sell their london residence for the chain to complete. however, essex bound have only had one offer in about 3 months and hertfordfordshire 2 offers. all offers rejected because "my house is worth more". both parties cite the fact that house prices in london are going up as a reason not to accept an offer below the asking price.
i suspect this scenario is playing out all over london. very few sales going through. volatile stats.

Bubble_and_Squeak

yay!
rodney place has sold!
the post stamp duty changes surge is on!

http://www.rightmove.co.uk/property-for-sale/property-47473555.html

wotsthat

This is the place that was up for £310k but they increased the price to £350k in mid August?

Some April peak! It's hideous too.

Bubble_and_Squeak

wotsthat wrote: »

This is the place that was up for £310k but they increased the price to £350k in mid August?

Some April peak! It's hideous too.

if you can sell rodney place you can sell anything!

Crashy_Time

padington

Crashy_Time wrote: »

For million pounds plus houses. Not cheap ones.

chucknorris

padington wrote: »

For million pounds plus houses. Not cheap ones.

As you say the higher end of the market:


http://www.standard.co.uk/news/london/london-house-buyers-slash-offers-after-chancellors-stamp-duty-shakeup-9917683.html


“We had a case in SW7 last week on a property under offer at £3.6 million where a buyer said, ‘The stamp duty is going to cost me that much more — I’m going to reduce my price by £80,000’.


Maybe crashy is thinking of putting a cheeky £3.53m offer on the above property to bag a bargain?

Bubble_and_Squeak

FTSE, oil, commodities, deflation
as paul mccartney once said "all the moneys gone, nowhere to go"
demand fallen off a cliff
the bulls are a bit like hitler trapped in his bunker during the battle of berlin waiting for wencks army to retake berlin and turn the tide
i'm sure they all believe that the army of buyers will return in january and rescue the market

wotsthat

Bubble_and_Squeak wrote: »

the bulls are a bit like hitler trapped in his bunker during the battle of berlin waiting for wencks army to retake berlin and turn the tide
i'm sure they all believe that the army of buyers will return in january and rescue the market

I'm not and don't. My next house purchase will be in April 2022. I won't be fannying about trying to time the sale and subsequent purchase - I'll just deal with the market as I find it. Currently thinking that I'll upsize so hoping prices fall between now and then.

I certainly don't think I have the ability to correctly time within a month or two so won't attempt to. You keep trying to kid yourself you have special predictive powers though.You don't seem to have a grasp of what's happening on Rodney Place let alone London as a whole.

chucknorris

Bubble_and_Squeak wrote: »

i'm sure they all believe that the army of buyers will return in january and rescue the market

I can't speak for everyone, but I'm just hoping that my tenants keep on paying their rent and that my ftse investments carry on paying the dividend income. I don't see any reason to be pessimistic about that.


As regards to selling, I may not sell my shares for another 15-20 years (when I might be within 10 years of my death) and I don't think I will be selling any property for about 10 years (possibly longer).