London Has Peaked

Jonbvn

This tickled me this morning.:rotfl:

http://www.thepoke.co.uk/2015/03/04/monopoly-london-estate-agents-edition/

padington

The pound at 1.41 euro's means London properties are edging ahead nicely in Euroland.

Up up and away.

https://mobile.twitter.com/RBS_Economics/status/575341793765638145/photo/1

chucknorris

padington wrote: »

The pound at 1.41 euro's means London properties are edging ahead nicely in Euroland.

Up up and away.

https://mobile.twitter.com/RBS_Economics/status/575341793765638145/photo/1

Surely (from a property only perspective) this is only good news for us if we were considering buying a holiday home or investment property in Europe? Or am I missing something?

padington

chucknorris wrote: »

Surely (from a property only perspective) this is only good news for us if we were considering buying a holiday home or investment property in Europe? Or am I missing something?

Always nice to have options

TheBlueHorse

as i said yesterday, prices near me (north london) have rocketed up in the last couple of months. Houses going for £550k are now going for £750k. It is madness. London has NOT peaked. Far from it.

chucknorris

padington wrote: »

Always nice to have options

The problem is though, that although I like the idea of having a holiday home in Spain, I really can't talk myself into the hassle of long distance ownership. Particularly when you can get such good long term rental deals during the winter months (when we would want to be there).

padington

chucknorris wrote: »

The problem is though, that although I like the idea of having a holiday home in Spain, I really can't talk myself into the hassle of long distance ownership. Particularly when you can get such good long term rental deals during the winter months (when we would want to be there).

There is a bit of currency play to be made though for anyone that wanted a villa, if the SNP gets a stranglehold on proceedings the pound isn't going to hold up much longer and now-ish or soon could be a good time to make the move.

Also EU QE will probably suport London property more than a random euro villa but it is looking possible that a political UK stalemate after the election might negate that benefit.

chucknorris

padington wrote: »

There is a bit of currency play to be made though for anyone that wanted a villa, if the SNP gets a stranglehold on proceedings the pound isn't going to hold up much longer and now-ish or soon could be a good time to make the move.

Also EU QE will probably suport London property more than a random euro villa but it is looking possible that a political UK stalemate after the election might negate that benefit.

I've reached the stage in life or getting close to it (I'm 57) where enjoying a hassle free life is more important than even more money. Fair enough if someone is comfortable with owning investment property abroad, but I don't think it is for us, our London properties are about as much hassle as I want, and we might even dispose of some of them in the not too far off future. In fact, if it wasn't for the fact that I have really good value tracker mortgages, I might have been selling some about now, once rates go back up I am likely to dispose of some of my properties.

cells

TheBlueHorse wrote: »

as i said yesterday, prices near me (north london) have rocketed up in the last couple of months. Houses going for £550k are now going for £750k. It is madness. London has NOT peaked. Far from it.

it will peak at some point as salary multiples just wont keep up

TBH I am surprised we have not reached that point already

It would be interesting to see actual mortgage data for london broken down by price point

who exactly are buying these £800k to £1m homes (terrace homes) and what jobs do they do and their incomes

padington

cells wrote: »

it will peak at some point as salary multiples just wont keep up

TBH I am surprised we have not reached that point already

It would be interesting to see actual mortgage data for london broken down by price point

who exactly are buying these £800k to £1m homes (terrace homes) and what jobs do they do and their incomes

Usually just normal people that are able to do houses up and bought at the right time or very well paid new comers in the top of the financial, tech or cultural sectors or the children of the very rich who are living in a city that is magentically attracting more wealth and talent for a whole number of reasons and existing in a period of growth.