London Has Peaked

wotsthat

Crashy_Time wrote: »

The people who have sizeable assets to get out of Russia will probably already be out, and they are unlikely to be snapping up the rubbish that London I.O sheeple have borrowed on.

Not sure why you'd think that. If you're trying to protect wealth you don't just move all your assets from Roubles to Dollars because whilst one risk may have been mitigated you've just swapped it for another. And, of course, not everyone will decide to take the same action at the same time. The flow of wealth from Russia will be fluid.

Last month they may have decided it would be prudent to hold a certain % of wealth in, say, US$. Given what seems to be a more uncertain situation this week they may have decided to increase that % and buy a London property as well.

Crashy_Time

wotsthat wrote: »

Not sure why you'd think that. If you're trying to protect wealth you don't just move all your assets from Roubles to Dollars because whilst one risk may have been mitigated you've just swapped it for another. And, of course, not everyone will decide to take the same action at the same time. The flow of wealth from Russia will be fluid.

Last month they may have decided it would be prudent to hold a certain % of wealth in, say, US$. Given what seems to be a more uncertain situation this week they may have decided to increase that % and buy a London property as well.

You were doing well up until the last seven words, then your post just descended into the same old predictable nonsense. Capital controls will probably be in place by the time I have finished typing this, if it ain`t out now it ain`t coming out. This situation didn`t happen overnight, there has been time to plan, and there is more to buy than London property to get wealth out of Russia.

wotsthat

Crashy_Time wrote: »

You were doing well up until the last seven words, then your post just descended into the same old predictable nonsense. Capital controls will probably be in place by the time I have finished typing this, if it ain`t out now it ain`t coming out. This situation didn`t happen overnight, there has been time to plan, and there is more to buy than London property to get wealth out of Russia.

Why would capital controls be needed if everyone that's going to take money out has already done so?

Planning so far has been primarily to get out of Roubles and into US$, UK£ & €'s. The London property bit was just to wind you up but the second phase will be to find a longer term home for that money other than cash.

Apparently prime London is crashing and has been all year according to a thread on HPC. Maybe there are some bargains to be had?

the_flying_pig

Crashy_Time wrote: »

...there is more to buy than London property to get wealth out of Russia.

that can't be true.

prime London pwoperdee is the only choice.

especially with a mighty c. 3% gross yield and a mere 12% stamp duty before you can own. not to mention the world's best and most honest estate agents to help you buy.

padington

A friend living near me just received an offer for full asking price within a couple of weeks with another buyer living on the same road, seriously interested. The estate agent advised to hold out in expectation that a bidding war might ensue taking the price over the asking price.

No crash evident in Wood Green from the ground up.

Bubble_and_Squeak

padington wrote: »

A friend living near me just received an offer for full asking price within a couple of weeks with another buyer living on the same road, seriously interested. The estate agent advised to hold out in expectation that a bidding war might ensue taking the price over the asking price.

No crash evident in Wood Green from the ground up.

do you know if the combatants are bidding with actual money or money they intend to get by selling another property?
i know of several cases recently where the battle was won in the bidding but lost on equity that didn't actually exist

padington

Bubble_and_Squeak wrote: »

do you know if the combatants are bidding with actual money or money they intend to get by selling another property?
i know of several cases recently where the battle was won in the bidding but lost on equity that didn't actually exist

Don't know, i know lots of viewing have already happened and one couple have visited the house four times in the first two weeks of viewing.

Looks like a white hot market from here.

It's all about micro areas. We have houses a stones throw a way slightly nearer Ally Pally selling for double the price. We're just at that sweet spot where you get real value.

People are chasing value it seems these days and looking to be close to the nice area's but on the edge where value is achieved.

Bubble_and_Squeak

padington wrote: »

Don't know, i know lots of viewing have already happened and one couple have visited the house four times in the first two weeks of viewing.

Looks like a white hot market from here.

It's all about micro areas. We have houses a stones throw a way slightly nearer Ally Pally selling for double the price. We're just at that sweet spot where you get real value.

People are chasing value it seems these days and looking to be close to the nice area's but on the edge where value is achieved.

as canadian country legend michael macdougal would say that much is true
bloke at work has had his gaff in enfield up for about 3 months and has had as many viewings
keep us updated on this one if you would

padington

Bubble_and_Squeak wrote: »

as canadian country legend michael macdougal would say that much is true
bloke at work has had his gaff in enfield up for about 3 months and has had as many viewings
keep us updated on this one if you would

Spoke to him this morning, he said 'problem is we still haven't found a place elsewhere we want to buy, so far nothing offers what this place does for the money and more offers I get for this place, more I want to stay put'.

As I said before, because a place is for sale for a while, it does'nt mean it can't be sold, it might just mean the buyer can't find a better proposition.

Bubble_and_Squeak

padington wrote: »

Spoke to him this morning, he said 'problem is we still haven't found a place elsewhere we want to buy, nothing offers what this place does for the money and more offers I get for this place, more I want to stay put'.

As I e said before, because a place is for sale for a while, it does'nt mean it can't be sold, it might just mean the buyer can't find a place to buy.

canadian country legend again
its the ones with the price cuts i get excited about