London Has Peaked

Bubble_and_Squeak

wotsthat wrote: »

You will have seen examples of houses sitting on the market for months in April as well as now. I bet you weren't using Property Bee in April and, in a rush to confirm your bias, hadn't considered the possibility that it's entirely usual for vendors to reduce prices if they don't sell.

i discovered property-bee in may
since then the percentage of price cuts has increased every month

Bubble_and_Squeak

MGCP wrote: »

I'm not even sure what this thread is about any more!

Given that people will be buying and selling houses long after we are all dead, can someone explain what "peaked" actually means in this context?

Is the peak in relation to salaries? Does peak mean never again will prices be as unaffordable as they are now? Is forever too long and does it just relate to the next 40-50 years? If prices drop for a bit but then go up higher then was that a legitimate "peak".

nor me ! !

ukcarper

Bubble_and_Squeak wrote: »

i think we'll have a better idea of what will happen after the autumn statement. if ozzy comes up with new scheme to keep prices artificially high i intend to do an MSE and jump in. if not i'll probably hang tight until the new year.

I think it would be better if prices didn't keep increasing and for your sake I hope they don't but I'm not sure they will.

wotsthat

Bubble_and_Squeak wrote: »

i discovered property-bee in may since then the percentage of price cuts has increased every month

Thought so. It's unclear what the relationship is between percentage price cuts on Property Bee and selling prices.

Asking prices have been increasing in your area since May and you're noting that % price cuts have increased every month. That would indicate an inverse relationship to asking prices but, more likely, IMO there's little or no relationship. My view is whilst it'll be handy when you're negotiating a price in someone's front room the data you're generating from it is close to anecdotal.

hpifever

This discussion is funny. Its ALWAYS the exact same people that love HPI and no one new has joined in on this discussion.

However over on the HPC forums, there are the usual suspects but many many more new people have joined in on the discussion.

I wonder why that is!

ukcarper

hpifever wrote: »

This discussion is funny. Its ALWAYS the exact same people that love HPI and no one new has joined in on this discussion.

However over on the HPC forums, there are the usual suspects but many many more new people have joined in on the discussion.

I wonder why that is!

Because over here any one can post so I'm not sure why the people on HPC don't post here. if you are including me in your people that love HPI you should read my posts and you might find out that just because people aren't expecting a crash it doesn't mean they love HPI.

Bubble_and_Squeak

mortgage lending down again
good news for hpi lovers on here
ozzy will DEFINITELY be waving his magic wand next week

Generali

Bubble_and_Squeak wrote: »

mortgage lending down again

You think so?

http://www.cml.org.uk/cml/media/press/4071

The Council of Mortgage Lenders estimates that gross mortgage lending reached £19 billion in October. This is 5% higher than September (£18 billion), and 8% higher than October last year (£17.5 billion). This is the highest lending total for an October since 2007 (£33 billion).

Mallotum_X

Generali wrote: »

You think so?

http://www.cml.org.uk/cml/media/press/4071

Yep definitely down :rotfl:

JWF

Down is the new up