London Has Peaked

hpifever

All the bulls seem to be avoiding talking about foxtons share price.

Bubble_and_Squeak

hpifever wrote: »

All the bulls seem to be avoiding talking about foxtons share price.

those words are bull blasphemy!
as are the initials bba!

ukcarper

hpifever wrote: »

All the bulls seem to be avoiding talking about foxtons share price.

Perhaps because they don't own Foxtons shares they ain't bothered.

Neil21

Bubble_and_Squeak wrote: »

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

There is an easier way to check the supply of houses on the market:
In rightmove go to' house prices tab', on the dropdown menu go to 'market trends' and then enter the 'marketed properties tab'.


Enter the postcode for the area you want the supply figures for and it provides the total number and the new properties on the market in a nice graph format.


It shows that supply in Tooting SW17 (the area I was looking to buy) has increase from 294 properties in December 2013 to 724 in September 2014. That is a 146% increase.
In Vauxhall SW8 there has been an increase of supply from 422 in December 2013 to 1276 in September 2014. That is a 202% increase.
Just for you Bubble and Squeak: Stratford E15, supply has increased from 292 in December 2013 to 564 properties in September 2014. That is a 93% increase in supply.

Bubble_and_Squeak

Neil21 wrote: »

There is an easier way to check the supply of houses on the market:
In rightmove go to' house prices tab', on the dropdown menu go to 'market trends' and then enter the 'marketed properties tab'.


Enter the postcode for the area you want the supply figures for and it provides the total number and the new properties on the market in a nice graph format.


It shows that supply in Tooting SW17 (the area I was looking to buy) has increase from 294 properties in December 2013 to 724 in September 2014. That is a 146% increase.
In Vauxhall SW8 there has been an increase of supply from 422 in December 2013 to 1276 in September 2014. That is a 202% increase.
Just for you Bubble and Squeak: Stratford E15, supply has increased from 292 in December 2013 to 564 properties in September 2014. That is a 93% increase in supply.

THA'S A LO'!
its a useful tool and one a use frequently but i'm too impatient to wait for the monthly updates and it doesn't filter out the stc.
a useful feature on that tool is that it distinguishes between new listings and existing ones. on most of my selection of postcodes it shows new listings declining while total listings are increasing. this destroys the notion of 8 buyers chasing every london property.

ukcarper

I'm not sure those figure don't count a house listed 3 times as 3 houses.

Bubble_and_Squeak

ukcarper wrote: »

I'm not sure those figure don't count a house listed 3 times as 3 houses.

obviously they do
one house on stratford is listed 5 times
but its been on the market for over 3 months
i wonder what happened to those 8 people chasing it?

cells

The_White_Horse wrote: »

you know what, in 1976 my parents paid £12k for our house. The next door neighbour paid £12.4k. What a fool!!!!!! He paid well over the odds. And when he sold it for £500k 30 years later, he was still resentful at paying so much over the odds for it - NOT.

The moral of this story is, whether you bought in April, August or will buy in December - in about 30 years time your property will be worth a lot more than you paid for it.

The end.

The days of high inflation are gone. We could well see no more than 2% average inflation for all of our lifetimes. Which means over a 30 year period prices would go up 80%

Houses in a rapidly population growth nations like England may well go up more than general inflation but not much more for obvious reasons

so the days of buying for 10k and selling for 500k thirty years later are gone. It will be buying for 10 selling for 20-25 this time around

cells

A question for the London crew. So many homes in London are now £1m plus how does one get a mortgage for such a large sum. Surely not many pepple are earning 200k income to get 4-5x income mortgages?

So must a disproportionate amount of the expensive buys be cash/savings purchases.

padington

cells wrote: »

A question for the London crew. So many homes in London are now £1m plus how does one get a mortgage for such a large sum. Surely not many pepple are earning 200k income to get 4-5x income mortgages?

So must a disproportionate amount of the expensive buys be cash/savings purchases.

We have a shed load of financial, corporate and digital geeks earning very very big incomes in London plus bonuses.