London Has Peaked

padington

Bubble_and_Squeak wrote: »

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

Well do your homework, those places are more likely hiding a number of sins.

Bubble_and_Squeak

padington wrote: »

Well do your homework, those places are more likely hiding a number of sins.

the homework is complete and the assets are liquidated (apart from a few shares in a russian based oil company which are now worth about 1% of what i paid)
just waiting for the right house to come along

padington

Bubble_and_Squeak wrote: »

the homework is complete and the assets are liquidated (apart from a few shares in a russian based oil company which are now worth about 1% of what i paid)
just waiting for the right house to come along

Dont forget, people get really emotional about houses and many people would prefer to know they gave it to someone they liked than the git with the absolute highest offer. Same as estate agents , they want an easy life and the purchase to go through quickly and for it to be pain free, so play a good game keeping everyone onside right from the off and it could save you a few bob.

tkane

the_flying_pig wrote: »

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.

And we'll just ignore the 20% capital appreciation that happened in the last 18 months, shall we.

tkane

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.

I think most of outer London is still seeing strong buyer demand if you exclude places like Walthamstow where prices just got crazy in the last year or two.

I bought my house in June this year at 400k in Zone 4/5 and last Saturday a house a few doors down went on the market for £430k and is sold subject to contract. Took all of three days.

Bubble_and_Squeak

tkane wrote: »

And we'll just ignore the 20% capital appreciation that happened in the last 18 months, shall we.

under natural market conditions that will erode over the coming months. of course, the housing market does NOT operate under natural market conditions. i fully expect to see another bout of QE at some point next year.

Bubble_and_Squeak

padington wrote: »

Dont forget, people get really emotional about houses and many people would prefer to know they gave it to someone they liked than the git with the absolute highest offer. Same as estate agents , they want an easy life and the purchase to go through quickly and for it to be pain free, so play a good game keeping everyone onside right from the off and it could save you a few bob.

hopefully not having to rely on perceived equity will count for something, especially if a vendor has had a sale fall through for that reason

Bubble_and_Squeak

tkane wrote: »

I think most of outer London is still seeing strong buyer demand if you exclude places like Walthamstow where prices just got crazy in the last year or two.

I bought my house in June this year at 400k in Zone 4/5 and last Saturday a house a few doors down went on the market for £430k and is sold subject to contract. Took all of three days.

sounds about right from what i'm seeing
the bidding wars i mentioned upstream have all been just outside london

padington

Swiss central bank introduces negative interest rates on the basis of recent developments in last few days have made safe have investments suddenly too attractive ...

Bubble_and_Squeak

padington wrote: »

Swiss central bank introduces negative interest rates on the basis of recent developments in last few days have made safe have investments suddenly too attractive ...

i think prime london is depreciating much faster than the real value of money deposited in a swiss bank account