London Has Peaked

Crashy_Time

wotsthat wrote: »

BOMAD must love their little pride and joy

Bet the skint landlords hate him though :rotfl:

Bubble_and_Squeak

mayonnaise wrote: »

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.

i've faced two rental increases in a decade
one i swallowed the other i didn't
i always pony up on time, never bother the landlord with anything i can do myself so i don't expect to be have to pay more for nothing.

Bubble_and_Squeak

wotsthat wrote: »

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.

i think you'll find house prices are now falling
even the megabullish ONS is showing london falling for three months on the trot. although, they relegated that part of the survey to the sidelines and went with the national figure.

Bubble_and_Squeak

wotsthat wrote: »

BOMAD must love their little pride and joy

don't get it.
maybe your bromance partner mayo can explain?

Bubble_and_Squeak

wotsthat wrote: »

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.

this is getting easier as asking prices are falling

Crashy_Time

Bubble_and_Squeak wrote: »

don't get it.
maybe your bromance partner mayo can explain?

Hey MAYO naise, get down and give me fifty!

mayonnaise

Bubble_and_Squeak wrote: »

this is getting easier as asking prices are falling

http://forums.moneysavingexpert.com/showpost.php?p=67483360&postcount=56

wotsthat

Bubble_and_Squeak wrote: »

this is getting easier as asking prices are falling

Your whole analysis is flawed. You can't comprehend what's happened in the near past so your commentary on what's happening now or may happen in the future has no value.

Jason74

Bubble_and_Squeak wrote: »

this is getting easier as asking prices are falling

I'm really not sure about that to be honest. I can only talk about my area, and while there was definitely a small drop off in the second half of last year, there appears to be a bit of a new year bounce going on, not just in terms of asking prices (which as people on both sides of the debate have pointed out, mean nothing), but in selling (or at least "sale agreed") prices too).

I know you like rightmove examples, and to be fair, I actually agree with you that they can sometimes be more useful in understanding what is going on in local micro markets than offical indexes (albeit they mean nothing in a wider context) so this one should be quite telling

http://www.rightmove.co.uk/property-for-sale/property-47089510.html

Went on the market in November last year for £450k, which on a historical basis is a luidicrous price for that road, especially for a house in that condition. On a historic basis, about £350k would have been about right, with perhaps a little more to allow for the fact that this house has an amount of land that gives quite a bit of scope to extend.

Well unsurprisingly given the ambitiouas pricing, it sat until Christmas, and I would have expected it to continue to sit until about the end of this Month when the price would have been reduced. But, as you can see, it's now gone under offer, which frankly shocks me.

And then there's this one:

http://www.rightmove.co.uk/property-for-sale/property-33313476.html?premiumA=true

Only an asking price I grant you, but the agent tends to be bang on with pricing. My first instinct is that this is way overpriced, and it sold at about £390k last spring. But as I say, the agent on this are very good at reading what the market will actually pay, so it will be very interesting to see how this one pans out.

But based on those examples, it's very difficult to draw any conclusion other than that my local market has bottomed out from last years falls, and that some small rises are the most likely outcome from here.

As ever, I'm talking about a small micro market that may not represent a wider picture, but I'm simply saying what I see .

Crashy_Time

Jason74 wrote: »

I'm really not sure about that to be honest. I can only talk about my area, and while there was definitely a small drop off in the second half of last year, there appears to be a bit of a new year bounce going on, not just in terms of asking prices (which as people on both sides of the debate have pointed out, mean nothing), but in selling (or at least "sale agreed") prices too).

I know you like rightmove examples, and to be fair, I actually agree with you that they can sometimes be more useful in understanding what is going on in local micro markets than offical indexes (albeit they mean nothing in a wider context) so this one should be quite telling

http://www.rightmove.co.uk/property-for-sale/property-47089510.html

Went on the market in November last year for £450k, which on a historical basis is a luidicrous price for that road, especially for a house in that condition. On a historic basis, about £350k would have been about right, with perhaps a little more to allow for the fact that this house has an amount of land that gives quite a bit of scope to extend.

Well unsurprisingly given the ambitiouas pricing, it sat until Christmas, and I would have expected it to continue to sit until about the end of this Month when the price would have been reduced. But, as you can see, it's now gone under offer, which frankly shocks me.

And then there's this one:

http://www.rightmove.co.uk/property-for-sale/property-33313476.html?premiumA=true

Only an asking price I grant you, but the agent tends to be bang on with pricing. My first instinct is that this is way overpriced, and it sold at about £390k last spring. But as I say, the agent on this are very good at reading what the market will actually pay, so it will be very interesting to see how this one pans out.

But based on those examples, it's very difficult to draw any conclusion other than that my local market has bottomed out from last years falls, and that some small rises are the most likely outcome from here.

As ever, I'm talking about a small micro market that may not represent a wider picture, but I'm simply saying what I see .

Not sure asking prices "meant nothing" to some bull posters a year or so ago, but asking prices do mean something, they mean sentiment is either strong or weak, and it would be foolish to ignore the importance of sentiment in all this would it not?