London Has Peaked

Bubble_and_Squeak

ukcarper wrote: »

That house I mentioned a few pages back that went up for sale at £60k more than best price achieved on the road which was earlier this year has just gone sold subject to contract.

no such joy on jewel road:
http://www.rightmove.co.uk/property-for-sale/property-28588380.html;jsessionid=25F36D88542CA7BE3DFD7416949A533A

ukcarper

Bubble_and_Squeak wrote: »

no such joy on jewel road:
http://www.rightmove.co.uk/property-for-sale/property-28588380.html;jsessionid=25F36D88542CA7BE3DFD7416949A533A

But that's the thing the house on my street and the ones you link to prove nothing.

Bubble_and_Squeak

ukcarper wrote: »

But that's the thing the house on my street and the ones you link to prove nothing.

well, i suppose they prove how different micro markets are reacting to current market conditions. which postcode is the house on your street?

ukcarper

Bubble_and_Squeak wrote: »

well, i suppose they prove how different micro markets are reacting to current market conditions. which postcode is the house on your street?

It's in Surrey it's been on the market sometime and I didn't think it would sell this year. The market is slower than earlier in the year but some property still sells quickly. I think that looking at a small number of properties in small areas tells you very little.

wotsthat

Bubble_and_Squeak wrote: »

why not put your properties on the market and see if anyone actually pays what you believe they are worth?

Just a reminder - you started a thread about London peaking and still haven't made it clear what peaked or provided any data to support your view.

Bubble_and_Squeak

wotsthat wrote: »

Just a reminder - you started a thread about London peaking and still haven't made it clear what peaked or provided any data to support your view.

are you saying that london hasn't peaked?

HAMISH_MCTAVISH

Bubble_and_Squeak wrote: »

are you saying that london hasn't peaked?

It transparently hadn't peaked when you started this thread.

buglawton

OP started a discussion stating his opinion that London (average property prices quite obviously) has peaked.

And it brought on a lively discussion (the whole point of MSE).

A lot of people with an opposite view took the opening post as some sort of provocation, the sort of reaction you'd expect from stakeholders who are willing property prices up.

Well, some opinion holders who opine based on 'gut feeling' based on a few subjectively seen events, actually turn out to be right! George Sorros for example. It's called the contrarian view.

One thing is sure about London, it's property prices (which lost any connection with everyday affordability a long while ago) are like a Cartesian diver, they bob up & down very sensitively according to huge pressures from above and below. If you think you can decode all those pressures then go ahead - predict!

ukcarper

buglawton wrote: »

OP started a discussion stating his opinion that London (average property prices quite obviously) has peaked.

And it brought on a lively discussion (the whole point of MSE).

A lot of people with an opposite view took the opening post as some sort of provocation, the sort of reaction you'd expect from stakeholders who are willing property prices up.

Well, some opinion holders who opine based on 'gut feeling' based on a few subjectively seen events, actually turn out to be right! George Sorros for example. It's called the contrarian view.

One thing is sure about London, it's property prices (which lost any connection with everyday affordability a long while ago) are like a Cartesian diver, they bob up & down very sensitively according to huge pressures from above and below. If you think you can decode all those pressures then go ahead - predict!

I think that that is what a lot of people including myself are saying, like most of us the OP has no idea if London prices have peaked and to state categorically that they have using the "evidence" he puts forward is nonsense.

Bubble_and_Squeak

ukcarper wrote: »

It's in Surrey it's been on the market sometime and I didn't think it would sell this year. The market is slower than earlier in the year but some property still sells quickly. I think that looking at a small number of properties in small areas tells you very little.

could be the fabled "ripple"