London Has Peaked

System

Bubble_and_Squeak wrote: »

rightmove trend is downward
halifax doesn't really reflect london
nationwide will get revised down (as usual) when the next figures are released
land registry is incomplete and several months behind the curve

So what you're saynig is whatever the indices say, it's bearish?

Aberdeenangarse

Bubble_and_Squeak wrote: »

land registry is incomplete and several months behind the curve

Just like the HPC nutters. 11 years behind and completely round the bend :rotfl:

mayonnaise

Aberdeenangarse wrote: »

Just like the HPC nutters. 11 years behind and completely round the bend :rotfl:

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wotsthat

Bubble_and_Squeak wrote: »

rightmove trend is downward
halifax doesn't really reflect london
nationwide will get revised down (as usual) when the next figures are released
land registry is incomplete and several months behind the curve

Isn't the '+' sign appearing in front of most of those indices since the April peak starting to get a bit annoying?

I wanted to insert a funny picture but couldn't find one so please imagine a chimp covering its eyes and ears rocking backwards and forwards whilst sat on its big toe.

Mallotum_X

wotsthat wrote: »

Isn't the '+' sign appearing in front of most of those indices since the April peak starting to get a bit annoying?

I wanted to insert a funny picture but couldn't find one so please imagine a chimp covering its eyes and ears rocking backwards and forwards whilst sat on its big toe.

does that help?

tkane

Bubble_and_Squeak wrote: »

an interesting claim.
asking prices are down according to rightmove.
over 25% of entries on rightmove have been reduced against under 5% which have been increased in the areas i monitor.
i only look at houses, though so maybe flats are still rising whilst houses are facing downward pressure.

I really don't see these reductions in NE London. The odd house will get reduced but these are just reductions from insane to sensible pricing.

You're not getting a bargain from these reductions, you are just paying market value rather than the seller's original kite flying price.

To be fair this part of London is relatively cheap. 3 bed terraces were changing hands for 300k every day of the week in 2012. Now we are talking about £425k but still cheap for a full house in London and 40mins to Oxford Circus.

chucknorris

tkane wrote: »

I really don't see these reductions in NE London. The odd house will get reduced but these are just reductions from insane to sensible pricing.

You're not getting a bargain from these reductions, you are just paying market value rather than the seller's original kite flying price.

To be fair this part of London is relatively cheap. 3 bed terraces were changing hands for 300k every day of the week in 2012. Now we are talking about £425k but still cheap for a full house in London and 40mins to Oxford Circus.

If I was starting out, I'd be looking at Tottenham Hale, we already bought one is 2008 just because they were ridiculously cheap (3 bed period house for less than £260k and 20 mins to Oxford circus including the walk to the station).They are still very reasonable now at around £400k, for London that is practically giving it away.

Libber

Bubble_and_Squeak wrote: »

rightmove trend is downward
halifax doesn't really reflect london
nationwide will get revised down (as usual) when the next figures are released
land registry is incomplete and several months behind the curve

Ah, so the numbers are all misleading and the crash is, in fact, on.

Do your faith-based approaches work well for you in other areas of life?

chucknorris

Libber wrote: »

Ah, so the numbers are all misleading and the crash is, in fact, on.

Do your faith-based approaches work well for you in other areas of life?

Actually it is good news, the bulls are happy because prices are going up and the bears are happy because they are pretending prices are going down, a win win(?) situation. In 5 years time when prices are much higher, they'll all just pretend they bought at the bottom of the market, again everyone wins, hurrah for everything.

tkane

chucknorris wrote: »

If I was starting out, I'd be looking at Tottenham Hale, we already bought one is 2008 just because they were ridiculously cheap (3 bed period house for less than £260k and 20 mins to Oxford circus including the walk to the station).They are still very reasonable now at around £400k, for London that is practically giving it away.

Yikes, not been to Tottenham Hale recently but it used to be a rather scary place circa 5 years ago!

Yes 400k for an entire house will look like a bargain in a few years. I enquired about the flats for sale in Chobham Manor in Statford - £375k for 1bed and £550k for 2beds. INCREDIBLE.

You could get a full house in Stratford for £250k just a few years ago.