London Has Peaked

Bubble_and_Squeak

ukcarper wrote: »

That's true and that is why most people buy a home when they can afford and want one rather than messing around trying to time market.

and how can you buy a home when there are 60 other people trying to buy the same one?

ukcarper

Bubble_and_Squeak wrote: »

a load of boring numbers on a spreadsheet

No a couple of minutes on a calculator.

chucknorris

Bubble_and_Squeak wrote: »

i must confess
i made an erroneous post
implied that i haven't suffered a rent increase in 10 years of renting in london but i just remembered i took a hit of about £35 a month approximatley 5 years ago

I'm (these are just my properties not incl. my wife's) just going to look at my tax returns for rental income growth over the last 10 years, be right back......................

2104 tax return total rental income = £73k
2004 tax return total rental income = £51k

That's over 43% increase over 10 years.

ukcarper

Bubble_and_Squeak wrote: »

and how can you buy a home when there are 60 other people trying to buy the same one?

Someone got the property.

mayonnaise

Bubble_and_Squeak wrote: »

i must confess
i made an erroneous post
implied that i haven't suffered a rent increase in 10 years of renting in london but i just remembered i took a hit of about £35 a month approximatley 5 years ago

Yes we know, you perma bears always rent way below market value and barely face rent increases over several years, even decades.

Meanwhile, in the real world:

http://homelet.co.uk/assets/documents/1892-Nov-HRI-FINAL.pdf

Average rent up 11% in Greater London last year.

mayonnaise

chucknorris wrote: »

I'm (these are just my properties not incl. my wife's) just going to look at my tax returns for rental income growth over the last 10 years, be right back......................

2104 tax return total rental income = £73k
2004 tax return total rental income = £51k

That's over 43% increase over 10 years.

You're lucky not to have Bubbles as a tenant, he would successfully negotiate a 0% increase year after year after year after year...

buglawton

Tsk Tsk and to think if you'd bought Swiss Francs yesterday you'd be 20% up on your investment today.

Puts into perspective all those 'best laid plans' we invest so much time with...

Jack_Johnson_the_acorn

mayonnaise wrote: »

You're lucky not to have Bubbles as a tenant, he would successfully negotiate a 0% increase year after year after year after year...

The thing is he's probably telling the truth. He hasn't had an increase in 10yrs he's just paying £400 over the going rate....

wotsthat

Bubble_and_Squeak wrote: »

for once you're right
if you had bought a house on wyemead crescent a few months ago you would have paid £51,000 more than the house next door is going for
http://www.rightmove.co.uk/property-for-sale/property-47906038.html

As they'd say on HPC, usually when they think a war's about to start that'll reduce house prices - most excellent.

Don't forget you've been playing the 'old prove house prices are falling by posting random Rightmove links' game for months and the indices show prices have increased.

wotsthat

Bubble_and_Squeak wrote: »

i must confess
i made an erroneous post
implied that i haven't suffered a rent increase in 10 years of renting in london but i just remembered i took a hit of about £35 a month approximatley 5 years ago

BOMAD must love their little pride and joy