London Has Peaked

Conrad

Bubble_and_Squeak wrote: »

looking at the way supply is building up it doesn't look like anyone is buying in london

Certainly stock is building, I still think this is largely down to mortgage rules that were tightened again in April.
Affordability rules are meaning you need to be a relatively high earner.


The summer break of the back of the world cup seemed to go on forever.


Market price stabilisation, maybe even small falls is probably for the best at this time.


I wouldn't bank on significant falls though.

Bubble_and_Squeak

Conrad wrote: »

Certainly stock is building, I still think this is largely down to mortgage rules that were tightened again in April.
Affordability rules are meaning you need to be a relatively high earner.


The summer break of the back of the world cup seemed to go on forever.


Market price stabilisation, maybe even small falls is probably for the best at this time.


I wouldn't bank on significant falls though.

i think mmr started the ball rolling
now its started to roll it will probably keep going
why would anyone buy a house today when it will be cheaper in a few months?

AndyGuil

Bubble_and_Squeak wrote: »

i think mmr started the ball rolling
now its started to roll it will probably keep going
why would anyone buy a house today when it will be cheaper in a few months?

Forget a few over priced properties. They aren't the market. Land registry continues to rise and it won't be long before it starts to ramp up again if it hasn't already. The summer lull is over.

AndyGuil

Bubble_and_Squeak wrote: »

looking at the way supply is building up it doesn't look like anyone is buying in london

It bottomed out at 16 buyers property if that's what you mean.

Bubble_and_Squeak

AndyGuil wrote: »

It bottomed out at 16 buyers property if that's what you mean.

how can there be 16 buyers per property if supply is increasing?

Bubble_and_Squeak

AndyGuil wrote: »

Forget a few over priced properties. They aren't the market. Land registry continues to rise and it won't be long before it starts to ramp up again if it hasn't already. The summer lull is over.

same old song and dance

AndyGuil

Bubble_and_Squeak wrote: »

how can there be 16 buyers per property if supply is increasing?

The ratio was 24. That's why. Normal cycle during the year. Peak supply and lowest demand. This moves further to the demand side in Autumn.

AndyGuil

Bubble_and_Squeak wrote: »

same old song and dance

We've seen it all before.

Bubble_and_Squeak

AndyGuil wrote: »

The ratio was 24. That's why. Normal cycle during the year. Peak supply and lowest demand. This moves further to the demand side in Autumn.

why are houses not selling if there are 16 people per property?

Jason74

AndyGuil wrote: »

Forget a few over priced properties. They aren't the market. Land registry continues to rise and it won't be long before it starts to ramp up again if it hasn't already. The summer lull is over.

It really isn't, probably of course because (as several credible sources have pointed out) what has been going on in London these past few Months has of course been far more significant than a "summer lul". Supply still rising in my part of the world, and is up another 10% or so in the last few weeks. Still very little selling , and close to half of all family houses have had at least one price reduction (strangely, flats seem to be doing better than houses at the moment, and it's probably the first time I've seen that).

There can be no doubt about it, the market has had a fundemental shift in the last few Months. That doesn't meab a crash is immininent, or anything like it. Conrad's shout of stagnant prices with possible small falls sounds about right for the next 6-12 Months based on what I'm seeing. But you repeatedly chanting the mantra that it's "just a summer lull" wont make it so any more than Crashy Time's predictions of imminent collapse will bring that about. Indeed, on reflection, I think the two of you are about as credible as each other.