London Has Peaked

Bubble_and_Squeak

wotsthat wrote: »

Even according to Rightmove London asking prices have increased 11.1% on the year.

You've lost the plot.

not many people buying now, though
should be fairly simple to negotiate an 11.1% discount of the asking price
in fact, looking at entries on property bee that seems to be around the standard discount after 2 weeks of no interest

HAMISH_MCTAVISH

Bubble_and_Squeak wrote: »

should be fairly simple to negotiate an 11.1% discount of the asking price

In which case you'd have to assume most people are doing so.

Yet actual sold prices are 17% higher than they were a year ago.

The denial is strong in this one.....:D

wotsthat

Bubble_and_Squeak wrote: »

hahaha hamish pipped up and thanked that one
i actually stopped looking for a house in april because i couldn't afford to outbid the bomads
i will start looking again before QE2 begins next year

You were a househunter in October 2013 and were rejecting houses as being too expensive. If you want to hit the big bubble bear reset button and pretend you only started looking early in 2015 knock yourself out but it's very clear why you'd do that.

It's just a bit odd that someone who isn't looking for a house has managed to wear out Property Bee since discovering it in April/ May.

wotsthat

Bubble_and_Squeak wrote: »

not many people buying now, though
should be fairly simple to negotiate an 11.1% discount of the asking price
in fact, looking at entries on property bee that seems to be around the standard discount after 2 weeks of no interest

Psst. Sold prices (the ones that matter) have gone up by 17.8% on the year.

It seem everyone on HPC has amazing negotiating skills. It's uncanny - just before departing HPC forever they buy a house for 25% less than market value and, after totting up the rent and heartache, remarkably find they've done much better than if they'd just purchased at the start of their HPC journey instead.

I love a happy ending.

Bubble_and_Squeak

wotsthat wrote: »

you were a househunter in october 2013 and were rejecting houses as being too expensive. if you want to hit the big bubble bear reset button and pretend you only started looking early in 2015 knock yourself out but it's very clear why you'd do that.

It's just a bit odd that someone who isn't looking for a house has managed to wear out property bee since discovering it in april/ may.

lies! Lies!

Bubble_and_Squeak

wotsthat wrote: »

Psst. Sold prices (the ones that matter) have gone up by 17.8% on the year.

It seem everyone on HPC has amazing negotiating skills. It's uncanny - just before departing HPC forever they buy a house for 25% less than market value and, after totting up the rent and heartache, remarkably find they've done much better than if they'd just purchased at the start of their HPC journey instead.

I love a happy ending.

me 'oo!
prices in newham (my target area) up 0.4% in november
number of transactions in E7 (my target area within newham) 9
even hamish has to admit thats not enough to sustain such an epic bubble

wotsthat

Bubble_and_Squeak wrote: »

me 'oo!
prices in newham (my target area) up 0.4% in november
number of transactions in E7 (my target area within newham) 9
even hamish has to admit thats not enough to sustain such an epic bubble

If you looked at the prices of the nine properties sold in E7 in November and even fleetingly thought they proved prices had dropped since April you didn't look properly.

If you'd purchased in November then you'd either spend more for the same house or get less house for your money compared to April.

I don't know the numbers of normal transactions in E7 but recent history suggests if the market slows vendors would rather wait until prices recover than reduce prices and transactions fall as a result. If you're waiting for a lightbulb moment when there's lots of choice and lower prices forget it. Instead you'll be hoping for a distressed vendor and seeing lots of threads about deluded sellers on HPC.

Forget Hamish and the bubble - they're part of the trees you can't see the wood for.

Bubble_and_Squeak

wotsthat wrote: »

If you looked at the prices of the nine properties sold in E7 in November and even fleetingly thought they proved prices had dropped since April you didn't look properly.

If you'd purchased in November then you'd either spend more for the same house or get less house for your money compared to April.

I don't know the numbers of normal transactions in E7 but recent history suggests if the market slows vendors would rather wait until prices recover than reduce prices and transactions fall as a result. If you're waiting for a lightbulb moment when there's lots of choice and lower prices forget it. Instead you'll be hoping for a distressed vendor and seeing lots of threads about deluded sellers on HPC.

Forget Hamish and the bubble - they're part of the trees you can't see the wood for.

your posts get more ridiculous as it becomes more apparent that the bubble is merely a bubble, not real sustainable hpi.

wotsthat

Bubble_and_Squeak wrote: »

your posts get more ridiculous as it becomes more apparent that the bubble is merely a bubble, not real sustainable hpi.

If you thought it was a bubble you'd be doing what Crashy's doing and hunkering down until it bursts ready to pounce. Fair enough his pouncing days are now behind him because he's been waiting so long and he's lost money but at least his money and mouth are in the same place.

You, on the other hand, are in a rush to buy before next April because you think loads of boomers are going to want to cash in their pensions, pay higher rate tax, and buy a grotty pit in E7. Yes, it's so obvious you think it's a bubble.

I've not commented whether London prices are in a bubble or the HPI is sustainable by the way. I've simply argued that a) I don't think you're equipped to call a peak and b) the peak you called wasn't a peak.

padington

Osbourne's little wheeze comes to fruition next year. There will be a lot more money about, I think anything could happen.

http://www.express.co.uk/news/uk/549326/House-prices-rise-people-invest-pension-pots-in-property

Forget bubbles, just consider if you think there might be more demand given supply.