London Has Peaked

padington

Jesus London up another plus 9% average on the year. If you consider that central posh London is crashing badly because of the 1.5million plus extra stamp duty, that's a seriously big rise for 'normal' properties in London.

http://www.telegraph.co.uk/finance/property/11767445/Home-ownership-is-an-empty-promise-as-house-prices-in-England-and-Wales-hit-record-highs.html

My neighbours place in Wood Green just got valued at 550k. Four years ago it was valued at 250k.

boOM !

shaggydoo

Only two areas left in London with an average house price of under £300,000

http://www.itv.com/news/london/2015-07-28/only-three-areas-left-in-londons-with-an-average-house-price-of-under-300-000/

missyrichards

shaggydoo wrote: »

http://www.itv.com/news/london/2015-07-28/only-three-areas-left-in-londons-with-an-average-house-price-of-under-300-000/

I think people will be trying to snap these houses up as soon as they can.

Crashy_Time

missyrichards wrote: »

I think people will be trying to snap these houses up as soon as they can.

Or moving? http://www.housepricecrash.co.uk/forum/index.php?/topic/204529-new-build-losers/page-5

Aberdeenangarse

Crashy_Time wrote: »

Or moving? http://www.housepricecrash.co.uk/forum/index.php?/topic/204529-new-build-losers/page-5

Perhaps you could provide us with some examples where your friend Bruce Banner lives? He keeps telling us ' in my area of the SE prices continue to drop' he's rather shy about providing examples :rotfl:

padington

Crashy_Time wrote: »

Or moving? http://www.housepricecrash.co.uk/forum/index.php?/topic/204529-new-build-losers/page-5

No Star Wars secret cinema down there crashy or many of those handy things called jobs. Good luck.

Jason74

padington wrote: »

Jesus London up another plus 9% average on the year. If you consider that central posh London is crashing badly because of the 1.5million plus extra stamp duty, that's a seriously big rise for 'normal' properties in London.

http://www.telegraph.co.uk/finance/property/11767445/Home-ownership-is-an-empty-promise-as-house-prices-in-England-and-Wales-hit-record-highs.html

My neighbours place in Wood Green just got valued at 550k. Four years ago it was valued at 250k.

boOM !

Yep. Great news for speculators, but a nightmare for anyone just trying to build a life living and working in London

remorseless

Jason74 wrote: »

Yep. Great news for speculators, but a nightmare for anyone just trying to build a life living and working in London

when real estate earn more than the people, it's always a bit of a worry! The 'place' in Wood Green was making £75k a year, hypothetically of course

Makes you wonder if property prices have ever crashed in the past... obviously can only go one way and that is UP!

chucknorris

Jason74 wrote: »

Yep. Great news for speculators, but a nightmare for anyone just trying to build a life living and working in London

That isn't entirely true, it is also great for people who have worked in London for years, then later decide to downsize to somewhere like Surrey (or even cheaper areas).

Jason74

chucknorris wrote: »

That isn't entirely true, it is also great for people who have worked in London for years, then later decide to downsize to somewhere like Surrey (or even cheaper areas).

True. There are people who have done well out of the boom. But my point is that seeing the price of an essential commodity like housing getting more and more expensive is ultimately a problem for a city like London, rather than something to be celebrated.


If it becomes harder and harder for people to gain the security and "stake" of home ownership, that creates more problems than benefits. And even the gains of those taking money from London to downsize elsewhere create (albeit smaller) problems in those places by making it harder for local people to afford housing . . . . .and so the problem continues.