London Has Peaked

padington

Bubble_and_Squeak wrote: »

and all the while supply continues to increase.
the 0.9% increase in london will be more than offset by the inevitable price cuts.
and put it in the context of the last 3 months.
like i've said many times before we now have falling asking prices and rising supply. do the math.

Did you read Phil spencer in the papers last week? He implied that this talk about a bubble is rubbish and said we were in the summer recess and basically implied anyone that took this summers stats to show everything was a bubble is misguided.

http://www.stroudnewsandjournal.co.uk/news/communitynews/11468164.Phil_rsquo_s_playing_house/?ref=var_0

I wonder which one of you lot he is ?

wotsthat

Bubble_and_Squeak wrote: »

and all the while supply continues to increase.
the 0.9% increase in london will be more than offset by the inevitable price cuts.
and put it in the context of the last 3 months.
like i've said many times before we now have falling asking prices and rising supply. do the math.

Selling prices as well as asking prices are on the up.

http://www.ons.gov.uk/ons/rel/hpi/house-price-index/july-2014/stb-july-2014.html

• UK house prices increased by 11.7% in the year to July 2014, up from 10.2% in the year to June 2014.
• House price annual inflation was 12.0% in England, 7.4% in Wales, 7.6% in Scotland and 4.5% in Northern Ireland.
• House prices are increasing strongly across the UK, with prices in London again showing the highest growth.
• Annual house price increases in England were driven by an annual increase in London of 19.1% and to a lesser extent increases in the South East (12.2%) and the East (10.6%).
• Excluding London and the South East, UK house prices increased by 7.9% in the 12 months to July 2014.
• On a seasonally adjusted basis, average house prices increased by 1.6% between June and July 2014.
• In July 2014, prices paid by first-time buyers were 13.5% higher on average than in July 2013. For owner-occupiers (existing owners), prices increased by 10.9% for the same period.

In_For_A_Penny_2

Bubble_and_Squeak wrote: »

and all the while supply continues to increase.
the 0.9% increase in london will be more than offset by the inevitable price cuts.
and put it in the context of the last 3 months.
like i've said many times before we now have falling asking prices and rising supply. do the math.

Looks like you've got your sums wrong again.

officeuk

Of course phil spanner would say there is no bubble.

Good news about foxtons shares are collapsing. Must be something happening to the housing market! !

Bubble_and_Squeak

you really shouldn't believe everything the government tells you
supply has doubled in london since april, houses are not selling and prices are up? hmmm...

Bubble_and_Squeak

officeuk wrote: »

Of course phil spanner would say there is no bubble.

Good news about foxtons shares are collapsing. Must be something happening to the housing market! !

down another 9p today!
does the market know something?

Bubble_and_Squeak

wotsthat wrote: »

Rightmove out today. Up 0.9% MoM for the UK. +3.9% Haringey & +2.2% for Waltham Forest.

That Property Bee app thing will be really handy when you're viewing a property to see if the vendor has reduced/ increased the asking price. However, as a tool to prove there's a big correction underway it's completely useless.

No doubt it's another trick of some sort.

http://www.rightmove.co.uk/news/house-price-index

another 3 months of increases like this might offset last months fall

padington

As a crazy boozed up, one eyed football hooligan and credit card scammer from Essex on a rampage through the British backpacker scene in Australia regularly used to say ...

'Talk is cheap, money buys houses'

It's was a true reminder that a stopped clock does tell the right time twice a day.

Sadly not all clocks are stopped, some are just way ahead or way behind and as a result, they are always wrongly proffessing to be right ...

Bubble_and_Squeak

lets have a look at what is happening on the ground to see how far these figures reflect reality
30 listings for walthamstow today (supply up)
4 reductions (not selling)
2 failed sale (can't sell)

Bubble_and_Squeak

only 8 entries for stratford today
that must mean the market is HOT, like that ea on rightmove told us yesterday
but wait
3 reductions and a failed sale