London Has Peaked

wotsthat

Bubble_and_Squeak wrote: »

well, i only viewed one property that i actually liked during october, november, december 2013. that was the very first one i viewed. with the benefit of hindsight i should have bought it but at that point in time i wanted to see what else was out there.
i've already told you how i would cope if prices fall after i complete.

This might be the best plan. Just buy and pretend you weren't really in the market in October '13 so weren't able to take advantage of the much lower prices at the time.

wotsthat

happylucky wrote: »

Let's say an offer is verbally agreed end July. Typical time to exchange is say 6 weeks (brings us to mid Sept.) Add on 2 weeks for completion (start Oct) then 6 week lag minimum before that sale is published (end Nov.)

That's 4 months already and I'd guess those timeframes are overly optimistic for anything other than chain-free sales...

Already you've gone from 26 weeks to 14 weeks without batting an eyelid in two minutes.

If I verbally agree an offer with a vendor for, say, £500k at the end of July then why do I exchange in the middle of September if I'm seeing houses on the market for £100k less? Answer - I don't.

Therefore a verbal offer is only converted to an exchange of contracts if there have been no significant changes in market price in the meantime.

Bubble_and_Squeak

sigh
wotsit, you're very skilled at twisting facts to suit your narrative and i congratulate you.
however, this thread is about london having peaked, not about when i should have bought. i suspect you keep steering it back to this because you can no longer twist the facts to contradict the fact that the london market has stalled.

wotsthat

Bubble_and_Squeak wrote: »

sigh
wotsit, you're very skilled at twisting facts to suit your narrative and i congratulate you.
however, this thread is about london having peaked, not about when i should have bought. i suspect you keep steering it back to this because you can no longer twist the facts to contradict the fact that the london market has stalled.

You asked what I would've done - well I already would've done it.

I'm not denying London has slowed in recent months - it's irrelevant to the thread. You called a London peak in April - you were wrong on the very day you started the thread.

Will December turn out to be the high water mark - I don't know and you're no better equipped to make a judgement either.

Bubble_and_Squeak

there you go again
as metallic would say
"twisting, turning the never"

lisyloo

as metallic would say

or as blackadder would say..........

you twist and turn like a.............................err twisty turny thing

Bubble_and_Squeak

lisyloo wrote: »

or as blackadder would say..........

you twist and turn like a.............................err twisty turny thing

was that the episode where the queen crashed the boys party?

Bubble_and_Squeak

i hereby declare this thread officially DEAD:
london is now FALLING!

wotsthat

Bubble_and_Squeak wrote: »

i hereby declare this thread officially DEAD:
london is now FALLING!

So when was the peak?

Bubble_and_Squeak

wotsthat wrote: »

So when was the peak?

do you mean the peak in terms of asking prices, sold prices, transactions, mortgage lending, demand, time on the market or sentiment?