London Has Peaked

System

Told you.

ukcarper

Bubble_and_Squeak wrote: »

this one came up today
http://www.rightmove.co.uk/property-for-sale/property-49795508.html
only £10k shy of my range, as oppose to £30k shy for the last sold

Or £50k more than the one that completed in april

Bubble_and_Squeak

ukcarper wrote: »

Or £50k more than the one that completed in april

true, but the april one was probably marketed around january last year. in terms of demand the market is significantly weaker today than it was then.
the thing with bubbles is that they can come down as quickly as they went up.
i think this one will sell above £300k as there are still some bomads out there
as pm dawn once said "they're probably alone, solitaire!"

Jack_Johnson_the_acorn

ukcarper wrote: »

Or £50k more than the one that completed in april

:rotfl: couldn't make it up

padington

Don't let the facts get in the way of a good yarn.

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

:rotfl: couldn't make it up

the old ignore the last sold gambit
yeh, its nice one

wotsthat

Bubble_and_Squeak wrote: »

the old ignore the last sold gambit
yeh, its nice one

I think UKcarper has adopted your statistical 'analysis' and is using it against you in an ironic way.

Prices are up >20% in London since you've been house hunting. Posting the odd link to Rodney Place or Pond Road might protect you mentally but doesn't alter the fact.

I know you're the bear here but it seems a bit strange getting excited about a place on Pond Road for £310k - I wouldn't touch it for half that.

MARTYM8`

padington wrote: »

Don't let the facts get in the way of a good yarn.

Yes - but surely what is relevant to someone buying now for the first time is the price now not in January last year? Or am I missing the obvious. London prices have gone up massively in the last 3 years - particularly so in the east - its quite possible they have overshot in some places in the short to medium term.

Back to that Stratford ad - maybe its the photo but it looks like one of the narrowest houses I have ever seen. If I bought it I would hope I have nice quiet neighbours - cos the walls must be paper thin.:D

System

MARTYM8` wrote: »

Back to that Stratford ad - maybe its the photo but it looks like one of the narrowest houses I have ever seen. If I bought it I would hope I have nice quiet neighbours - cos the walls must be paper thin.:D

Ha, didn't spot that. Convenient bathroom too.

12 months ago 310k got you a lot more house.

padington

MARTYM8` wrote: »

Yes - but surely what is relevant to someone buying now for the first time is the price now not in January last year? Or am I missing the obvious. London prices have gone up massively in the last 3 years - particularly so in the east - its quite possible they have overshot in some places in the short to medium term.

Back to that Stratford ad - maybe its the photo but it looks like one of the narrowest houses I have ever seen. If I bought it I would hope I have nice quiet neighbours - cos the walls must be paper thin.:D

Of course it matters, so you should listen to sound proven advice. Those that appear to have done the best research seem to disagree as to whether London will go up a little bit or go down a little bit. No one worthy asking is predicting a crash from what I can see.

There are lots of big head winds on their way together with an ever growing demand but the main thing is the election if you ask me and that will be a stitch up between lib/lab/Tory all of who are proven HPI fan boys when it comes down to it. There should be a good dip between now and the election I would have thought with a good bounce back when people realise the mansion tax won't have anywhere near the impact people thought it would because either Labour will water it down, it will only really effect luxury property or Labour won't have the mandate to bring it in.

Either way I personally still expect London to be up again for value property and down for luxury prime by the end of 2015 but don't listen to me, listen to things like large rightmove and British government studies.

... But yes In the short term, before the election, it should be a great time to buy because there will be fear in the air. The moment afterwards , I expect the Westminster machine will do EVERYTHING in their power to dispel that fear for normal people buying normal houses and continue the influx of Forign money by almost any means necessary.