London Has Peaked

onthehill

Philuk wrote: »

Your fragmentation theory has no relevance especially when the main argument behind the price push is that London is a global city.

See reports on today's release of latest land registry figures. Quite varied for central prime and suburban. Greenwich and lewisham still rising sharply on an annual basis, prime not. And for folks who don't know greenwich it isn't all a world heritage site by a long chalk.

cells

London has truly gotten expensive, it always was but its a whole new extreme.

In 1995 the price of an average home in Hackney was 50% more than an average home in Birmingham. Twenty years later in 2015 the average price of a home in Hackney is 5x that of Birmingham

cells

cells wrote: »

London has truly gotten expensive, it always was but its a whole new extreme.

In 1995 the price of an average home in Hackney was 50% more than an average home in Birmingham. Twenty years later in 2015 the average price of a home in Hackney is 5x that of Birmingham

having just checked the rents in Birmingham, it seems they are about 1/5th that of Hackney so it makes sense that hackney prices are 5x higher

I wonder how rents have moved over the 20 years in Birmingham and London

MARTYM8`

onthehill wrote: »

OK.

All the best

It does by the way strike me that the standard of journalism on house prices is peculiarly appalling. I always thought that a basic discipline of journalism was to ask questions, at least pre-analyse "facts" before chucking them at the poor reader. Otherwise what's the point of their pieces - they are adding absolutely no value. I may as well ask my pet terrapin what is going on.

Property advertising is the biggest source of advertising revenue for most newspapers - you are hardly going to find many downbeat pieces on the housing market for this very reason whether justified or not..

The Evening Standard on Wednesday's - property day - is so bulky its actually hard to lift with one hand now.

setmefree2

A sea of Red here in London

Labour dominates capital with 45 seats

Labour has increased its control of London to take 45 of the capital's 73 Parliamentary seats, despite heavy losses elsewhere in the UK.

http://www.standard.co.uk/news/politics/london-election-results-the-winners-from-every-constituency-across-the-capital-10228222.html

onthehill

What is the point you are making?

Jonbvn

onthehill wrote: »

What is the point you are making?

Excellent timing by BoJo to return to parliament?

mwpt

cells wrote: »

Inner London has truly become very expensive in terms of what you get for what you pay.

£800,000 for a terrace home in Hackney where half the population is on food stamps

Of course it is sustainable because that £800k home yields 5% return index linked which bests shares and savings accounts.


Rents need to fall for house prices to fall (or at least not go up for a number of years)

And rents won't fall

Or interest rates rise.

padington

Boom.

All on now, in my opinion, for 7% rise plus on average year on year, effectively doubling the price of London housing again by May 2025 or earlier.

By then, expect London to become the undoubted capital city of the world.

Capital with a big and small 'C'.

If you can afford to, you're lucky to be able to be on the right side of this 'success' story.

Fill your boots if you can.

I would heartily suggest, any cheap property near Alexandra Pallace for a whole host of reasons. Last time I said this it was less than five years ago and many prices there almost doubled in that time.

So a five year plan from now could be a pretty rewarding one.

alberty

The biggest experts failed to predict the 2013 housing boom or the Tory majority, so the media saying housing is about to rise again probably means its a good time to sell?