London Has Peaked

danothy

Bubble_and_Squeak wrote: »

because i thought you might know the answer

I do know the answer.

Bubble_and_Squeak

looks like they didn't manage to cobble together enough support for their open day tomorrow so they had to undercut the last sold
http://www.rightmove.co.uk/property-for-sale/property-46243741.html;jsessionid=C26B8D654DCD1AE2480D2A7575AFF23F?premiumA=true
maybe should wait for five years so it can go up by 32%

gbsilp

Looks like crashytime may have been correct....

Ray Boulger, director at broker John Charcol, said he was unconvinced that the price ceiling had been reached in the regions. “We know prices in central London peaked in mid-March and have been falling since then but outside London they didn’t pick up until the summer of last year. There’s a lot of catching up to do – in some parts of the country prices are still where they were in 2007.”

http://www.ft.com/cms/s/0/803eceae-4fd4-11e4-a0a4-00144feab7de.html#axzz3FlqTrwA8

wotsthat

gbsilp wrote: »

Looks like crashytime may have been correct....

Yup, he's cracked it. Sold in the early nineties at the bottom of the market and rented for over twenty years to the peak. Hope it doesn't take another twenty years to get back to where he started.

Sad thing is he's telling tales about owning and any dip in prices won't tempt him to buy so he'll have to watch another peak develop.

wotsthat

The ONS continue to dispute an April peak.

• UK house prices increased by 11.7% in the year to August 2014, unchanged from the year to July 2014.
• House price annual inflation was 12.2% in England, 4.7% in Wales, 6.7% in Scotland and 9.6% 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 19.6% and to a lesser extent increases in the South East (12.3%) and the East (11.6%).
• Excluding London and the South East, UK house prices increased by 7.8% in the 12 months to August 2014.
• On a seasonally adjusted basis, average house prices increased by 0.6% between July and August 2014.
• In August 2014, prices paid by first-time buyers were 12.9% higher on average than in August 2013. For owner-occupiers (existing owners), prices increased by 11.2% for the same period.

Apparently the ONS are consulting to develop a single house price index as the multitude of house price data continues to cause confusion on the internet.

http://www.ons.gov.uk/ons/about-ons/get-involved/consultations-and-user-surveys/consultations/consultation-on-the-development-of-a-definitive-house-price-index/index.html?format=print

In_For_A_Penny_2

wotsthat wrote: »

The ONS continue to dispute an April peak.

• UK house prices increased by 11.7% in the year to August 2014, unchanged from the year to July 2014.
• House price annual inflation was 12.2% in England, 4.7% in Wales, 6.7% in Scotland and 9.6% 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 19.6% and to a lesser extent increases in the South East (12.3%) and the East (11.6%).
• Excluding London and the South East, UK house prices increased by 7.8% in the 12 months to August 2014.
• On a seasonally adjusted basis, average house prices increased by 0.6% between July and August 2014.
• In August 2014, prices paid by first-time buyers were 12.9% higher on average than in August 2013. For owner-occupiers (existing owners), prices increased by 11.2% for the same period.

And with falling inflation, interest rates are going nowhere. House prices seem destined to continue increasing - tough times for FTB's (like me).

Bubble_and_Squeak

In_For_A_Penny wrote: »

And with falling inflation, interest rates are going nowhere. House prices seem destined to continue increasing - tough times for FTB's (like me).

didn't ONS say that the price paid by FTBs in london fell?
its all state controlled nonsense anyway.
the only other indices still showing prices increasing are also state owned.

Bubble_and_Squeak

but, but the government says house prices are rocketing???
why isn't my house worth as much per square metre as the last sold???
there must be some mistake?!
http://www.rightmove.co.uk/property-for-sale/property-46043662.html;jsessionid=FD8B38497FD699C444D8E9BE3A00C25C

Crashy_Time

wotsthat wrote: »

Early nineties? Just how old are you?

Most people don't want to be living your lifestyle at your age. They don't want to be finding accommodation no questions asked from ads in the newsagents or have to live in a place that costs £300/ month. People only do that if they have to and the vast majority don't have to.

Houses are expensive but it's going to take some economic strife that is highly unlikely to happen before the Sheeple have to live your lifestyle and you can choose which of their houses you'd like to buy for cash.

You're the perfect poster boy for HPC. If you were interviewed on TV about your strategy there would be a house price spike as the Sheeple rushed to buy.

I am 91, and the point I`m trying to make is that most sheeple couldn`t put up the cash to buy even my 300 p.m flat as you say ( it is actually 400 p.m, 50 p.m up on a similar flat in the late 90`s) We are in a deflationary environment, rates are going nowhere, but neither are wages, that 400k mortgage that many thought was an "inflation hedge" :T is more like a ball and chain for life, as it just sits there eating away at their happiness. HPI isn`t going to bail people out this time around.

Crashy_Time

Bubble_and_Squeak wrote: »

but, but the government says house prices are rocketing???
why isn't my house worth as much per square metre as the last sold???
there must be some mistake?!
http://www.rightmove.co.uk/property-for-sale/property-46043662.html;jsessionid=FD8B38497FD699C444D8E9BE3A00C25C

Shurly shome mistake mish moneypenny? :j:j:j:money: