London Has Peaked

Bubble_and_Squeak

wotsit you make stuff up about me
if it makes you URESHII i'm URESHII for you
i wouldn't be surprised if you are the EA who told me last week that the E7 market is "hot at the moment" (on the back on 9 transactions)

chucknorris

padington wrote: »

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.

At first I thought that the video in your link was simply stating the bleeding obvious, and it is. But the bleeding obvious is what most people are ignoring, i.e. what is their plan for retirement income, I think most (maybe MSE members are an exception) tend to over spend and don't save and/or invest enough for their future. People need to invest more when they are younger, better to do so in a pension wrapper to get tax relief and an employer contribution, rather than suddenly realise a few years from retirement that they are heading for trouble, it's too late to do anything about it then.

Bubble_and_Squeak

padington wrote: »

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.

come on, paddy
daily express???
btw, 9 transactions in wooders in november

wotsthat

wotsthat wrote: »

You were a househunter in October 2013 and were rejecting houses as being too expensive.

Bubble_and_Squeak wrote: »

lies! Lies!

Bubble_and_Squeak wrote: »

i started looking in october 2013, not august.

You're losing track because you've hit your little bear reset button so many times.

wotsthat wrote: »

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.

Bubble_and_Squeak wrote: »

wotsit you make stuff up about me

padington wrote: »

On the other hand, we do have a pensions revolution coming our way and people do love buying houses, tax or no tax. However I guess labour could stop that pretty quick.

Bubble_and_Squeak wrote: »

this is why i aim to buy before april

Good job I can keep track of your mumblings even if you can't. Do you have to wear slip ons by the way?

wotsthat

chucknorris wrote: »

At first I thought that the video in your link was simply stating the bleeding obvious, and it is. But the bleeding obvious is what most people are ignoring, i.e. what is their plan for retirement income, I think most (maybe MSE members are an exception) tend to over spend and don't save and/or invest enough for their future. People need to invest more when they are younger, better to do so in a pension wrapper to get tax relief and an employer contribution, rather than suddenly realise a few years from retirement that they are heading for trouble, it's too late to do anything about it then.

Given we're apparently heading for a pensions crisis because so few are saving for retirement I find it difficult to believe that those with the foresight to save a house sized pension fund would pay tax at their higher rate to buy a house.

If they're the clever ones there's no hope for the rest.

padington

Bubble_and_Squeak wrote: »

come on, paddy
daily express???
btw, 9 transactions in wooders in november

Prime property transaction levels are very high ...

padington

wotsthat wrote: »

Given we're apparently heading for a pensions crisis because so few are saving for retirement I find it difficult to believe that those with the foresight to save a house sized pension fund would pay tax at their higher rate to buy a house.

If they're the clever ones there's no hope for the rest.

They don't need a house sized pension fund, they just need a deposit sized one, there are enough people willing to pay the mortgage for them.

wotsthat

padington wrote: »

They don't need a house sized pension fund, they just need a deposit sized one, there are enough people willing to pay the mortgage for them.

Maybe I'm just struggling to see why anyone would want to use even just the tax free lump sum to get into BTL as retirement looms.

chucknorris

wotsthat wrote: »

Maybe I'm just struggling to see why anyone would want to use even just the tax free lump sum to get into BTL as retirement looms.

I agree, if you already have investment property, you are probably better off diversifying and avoiding having all your eggs in one basket.

If you aren't already holding investment property I don't think it's an ideal time of life to start dealing with being a landlord, and because it is a long term illiquid investment. Why take the chance that you don't need to get your money out sooner than expected due to ill health, it is bad enough suffering the ill health without added complications, a minority will probably do it though.

My parents did it a while ago (they live in Northumberland), it was a disaster for them because the letting agents did not manage effectively, and they didn't ask my advice. They only got out with a profit because prices happened to rocket after they invested. If they had asked me I would have said buy in Newcastle, not in the very small town that they live in, and I would also have advised them to manage it themselves (not use an agent) with my help.

buglawton

According to a half-pager in the Telegraph today, St Albans showed London a clean pair of heels in 2014, overtaking London average price rise by a clear margin. Other places e.g. Reading beat London too but only be a slim margin. Expect this trend to sharply increase in 2015. London, goodbyeee.