London Has Peaked

padington

onthehill wrote: »

thanks for the honesty.

Of course if they take your tip that will be good for you

Won't Ally Pally just benefit Muswell Hill and the like though?

Not likely to have any great effect on Turnpike Lane/Green Lanes etc etc.

My tip was Wood Green tube side of ally pally. Muswell hill is pretty pricey now and entering the targets of 'mansion tax'. Far better to buy value property in my opinion. One day either labour or the liberals will get that policy through no doubt. The price trajectory of Wooders over Muswell Hill has proven this to be the case as well over the last three years from what I can tell.

Everywhere near will benefit however. When your neighbours remove shopping trolleys from their front gardens, It always helps and this is the same but a much bigger scale.

I can't wait for the Victorian theatre to open its doors, will be great to have a beautiful theatre on the doorstep.

onthehill

http://homesandproperty.co.uk/property-news/news/new-figures-reveal-londons-poorest-boroughs-show-highest-property-price-rises#2
Useful summary of land registry latest figures by borough.

Doesn't seem to show real falls in many boroughs.

padington

It looks like the threat of the mansion tax is making cheaper properties the
most profitable ...

http://homesandproperty.co.uk/property-news/news/new-figures-reveal-londons-poorest-boroughs-show-highest-property-price-rises

onthehill

I heard a similar thing from an estate agent the other day. Said it was the larger more exlensive stuff he was having trouble with.

padington

onthehill wrote: »

I heard a similar thing from an estate agent the other day. Said it was the larger more exlensive stuff he was having trouble with.

It's not surprising, when you tax windows everyone wants a house with not many windows.

Pretty much everyone here forsore this happening.

Labour will see it as being a 'Robin Hood' effect no doubt and will encourage it.

The next thing that may happen is that as the effect gains momentum, if labour get in, they'll identify a need to cool the 'cheap' property market.

Before you know it, the total tax increase will be raised once again. They no doubt will justify this to find the funds to build more affordable accomodation for 'generation rent'.

In some respects though it might not really help that many people because the mansion tax will choke off some foreign investment (but less thay expected ) however with some invisible but real consenquences & cause the man on the street to be poorer with a higher tax take ( if they do raise taxes to cool the market ) and raise the price of 'affordable accommodation'.

On the other hand the mansion tax will help pay for the NHS and allow labour to help fund a rent to buy scheme ( or something similar) with increased council taxes (especially on second homes ), which could help increase home ownership as a percentage of the population ( there will be a bun fight for rent to buy properties I imagine, the only question is how many can they build) and it still allows the economy to enjoy, in the main, all the other benefits of house price inflation
( people building extensions on credit etc).

In short, I think HPI is here to stay, with labour or without (albeit with a correction or crash in the prime market with Labour).

onthehill

Sorry - HPI? realise I should know.

Also, can you clarify how you think Labour will bring down the price of properties below mansion tax level?

And do you mean slow increases or reduce the price?

Sorry if I'm being dim/pedantic - early and coffee not yet kicked in.

padington

onthehill wrote: »

Sorry - HPI? realise I should know.

Also, can you clarify how you think Labour will bring down the price of properties below mansion tax level?

And do you mean slow increases or reduce the price?

Sorry if I'm being dim/pedantic - early and coffee not yet kicked in.

House price inflation. Re-read it after your coffee.

cells

London will peak when BTL returns become zero

We are not there yet but we are getting closer which is part of the reason for the slowdown

brit1234

Had a look last night for West London, couldn't even afford the council cheap stuff. After 6 months of falls it seems to be coming from the top end at the moment and not rippled down.

Before Help to Buy I could just just about to afford at a stretch with a huge deposit, now nothing.

Help to Buy just fuels the housing bubble and helps builders keep prices high.

HAMISH_MCTAVISH

brit1234 wrote: »

Had a look last night for West London, couldn't even afford the council cheap stuff. .

Gosh, if only someone had bought in early 2009 instead of trolling every housing board around proclaiming "50% falls by Xmas"...

Or even better, just bought in 2007 with a 100% mortgage at 1% above base for life....

Just sayin...:D