London Has Peaked

Bubble_and_Squeak

cells, you're just like danny

Bubble_and_Squeak

tkane wrote: »

London zone 4/5 is still very active and prices still going up. Prime London going down from megal bubble territory was always going to happen but this is not a crash.

I would be gombsacked if a reasonably priced 3 bed terraced house anywhere in zone 4/5 in London takes more than a month to sell. By reasonably priced I mean at market value.

have a little property-bee browse

happylucky

So the land registry data is out. 6 London boroughs have negative growth. Kensington & Chelsea looks upbeat but that appears to be a bounce- back after -2.5% last month's report.

Am I correct in thinking this data relates to (approx) completions before end of October, so typical exchanges end September and verbal sales agreed August?

wotsthat

Bubble_and_Squeak wrote: »

have a little property-bee browse

Property Bee has only one use and that is to know the pricing history of a house that you're considering purchasing. For an insight into the wider market you may as well read tea leaves.

You'll be able to convince yourself otherwise but, according to Nationwide, you're going to get 17.8% less house for your £300k budget than this time last year and you've paid a years rent into the bargain.

I can't believe you haven't twigged this yet.

Libber

As further evidence of London having peaked several months ago, prices rose by 2.5% during Q4. It's a funny sort of peak when prices keep rising after it's passed, but a peak it must be!

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/Q4_2014.pdf

chucknorris

Libber wrote: »

As further evidence of London having peaked several months ago, prices rose by 2.5% during Q4. It's a funny sort of peak when prices keep rising after it's passed, but a peak it must be!

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/Q4_2014.pdf

It is the end of mathematics as we know it.

Bubble_and_Squeak

land registry must be about the only scrap of "good news" the bulls have had this month. enjoy it!
nationwide. seasonally adjusted. they'll revise it down next month (like they always do)

Bubble_and_Squeak

wotsthat wrote: »

Property Bee has only one use and that is to know the pricing history of a house that you're considering purchasing. For an insight into the wider market you may as well read tea leaves.

You'll be able to convince yourself otherwise but, according to Nationwide, you're going to get 17.8% less house for your £300k budget than this time last year and you've paid a years rent into the bargain.

I can't believe you haven't twigged this yet.

and the length of time its been on the market with that agency

happylucky

I wonder what % of the London property market nationwide's reported figures are derived from. They have around 12% of the UK gross mortgage market share, no? and I vaguely recall the percentage of London purchasers who use a mortgage being much lower than the UK average...

It would be good to have a comprehensive set of data like the land registry but which was not so horribly out of date.

chucknorris

Bubble_and_Squeak wrote: »

land registry must be about the only scrap of "good news" the bulls have had this month. enjoy it!
nationwide. seasonally adjusted. they'll revise it down next month (like they always do)

One months fall or rise doesn't make a summer. You can have as many monthly falls as you want in the future, providing that I can have an annual rise, deal or no deal?