London Has Peaked

padington

Bubble_and_Squeak wrote: »

if there are really 8 buyers to every seller why is supply increasing and why are over 28% of prices being reduced in my areas of interest?

Again you can't use info from one tiny part of the market to talk about the whole market with authority.

Bubble_and_Squeak

ukcarper wrote: »

But you are not buying now you are waiting for falls that may or may not come.

I bought my first house in early 1972 it was a new build on small estate by a local developer. When I first looked the houses were £5350 when I bought in April I paid£8000 this was at a time when guzumping was prominent and each release of new build was sold on the day of release. The house were £10,500 in the beginning of 1973 if I had not bought when I did it would have been some time before I could afford to buy.

as canadian country legend michael macdougal would say "that much is true"
but supply is continuing to build up so i don't see any reason to rush as it broadens my choice

Bubble_and_Squeak

wotsthat wrote: »

You really should have thought about this and titled the thread 'I'm buying a house in Vernon Road and hoping prices have peaked'.

VERY FUNNY!
i will keep an eye on vernon though

Bubble_and_Squeak

padington wrote: »

That's a great strategy. Just don't feel you can use the findings from that strategy whilst commenting on the wider market with authority.

i only seek to comment on the london market
london has a high percentage of cash buyers
ONS has a high percentage of state employees

Bubble_and_Squeak

padington wrote: »

Again you can't use info from one tiny part of the market to talk about the whole market with authority.

so the 8 buyers per property is nationally?
i wonder how many buyers vernon road has?

ukcarper

Bubble_and_Squeak wrote: »

as canadian country legend michael macdougal would say "that much is true"
but supply is continuing to build up so i don't see any reason to rush as it broadens my choice

Out of interest how do you check supply.

Bubble_and_Squeak

ukcarper wrote: »

Out of interest how do you check supply.

merely a manual count on rightmove of houses, not including stc

ukcarper

Bubble_and_Squeak wrote: »

merely a manual count on rightmove of houses, not including stc

Do you allow for properties in multiple agents.

Bubble_and_Squeak

ukcarper wrote: »

Do you allow for properties in multiple agents.

not for the totals.
but when counting up price cuts and increases i try to.
obviously some will slip the net.

ukcarper

Bubble_and_Squeak wrote: »

not for the totals.
but when counting up price cuts and increases i try to.
obviously some will slip the net.

So the actual number of house for sale could be lower.