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London house prices start to fall
dolce_vita
Posts: 1,031 Forumite
According to The Fool
dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing
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Comments
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I don't believe that for one min. There is a flat over the road from me, identical to mine (kitchen & bathroom a bit smaller if anything, though the whole flat is the same size) on for 65K more than I paid for mine back in Feb. Similar flats nearby are under offer at greatly inflated prices than what I was looking at six months ago.
A friend of mine has a flat in the Barbican (the City of London, which the Fool claims is dropping), and it's gone up by around 100K since last summer when he had it valued. Similar flats are under offer at these prices.
Whilst these are only what theyErrors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
I was going to post up a report from KNight Frank that said that they are seeing a cooling of property in london as well. cant find it now, might be saved to my faves at work. you know things are not 100% rosey when EAs start saying the market has turned
Incidentally, those flats on my road are still on the market, since APRIL after at least one reduction.
Maybe its cos you are a bit moe Central melissa? i think zone 1 & borders will always be bouyant, when you look more towards outer 2-3-4- I think theres much more to it. Micromarkets.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Yeah - I just can't understand why they are saying the City of London has dropped though. Generali posted some Barbican flats up with some silly prices the other day, and Type 21s which were going for about half a mil last year are now at 600K +.
Personally, I think the flat I bought was way underpriced in the first place, but I had a vendor who wanted a quick sale. My boyfriend thinks that I should do an STR - I worry that he's usually right on these things!Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
Mel , thats what was happening to me.
When my SO flat was valued at over 300 I was like I think that serioulsly is the most it can go to, so Ill stick it on at 295 and see if there are any bites.
Suffice to say I got an offer from some mug at 293 so I snatched his hand off.
Similar flats are now going for 265 on the same street, and not quickly either ( well i dont know what they sold for only what they were on the market for) . So I know I was right to sell when I did.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
I'd expect the first and biggest falls to be in London. I'm sure there will be some pockets that will be last to fall but with higher IRs, falls are inevitable.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Mel , thats what was happening to me.
When my SO flat was valued at over 300 I was like I think that serioulsly is the most it can go to, so Ill stick it on at 295 and see if there are any bites.
Suffice to say I got an offer from some mug at 293 so I snatched his hand off.
Similar flats are now going for 265 on the same street, and not quickly either ( well i dont know what they sold for only what they were on the market for) . So I know I was right to sell when I did.
I still don't think there is going to be a crash, but I can't help but wonder whether or not I should cash out and move on to the next renovation project! I've done my flat up quite nicely, but the cosmetic stuff is never worth 65K extra.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
Melissa177 wrote: »I still don't think there is going to be a crash, but I can't help but wonder whether or not I should cash out and move on to the next renovation project! I've done my flat up quite nicely, but the cosmetic stuff is never worth 65K extra.
Don't let Bruno know you're thinkiing of being an STR. you know what he thinks of them.
And he has just posted on this thread (doctor loser, anyone?)dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
Bruno allegedly STR himself BTW.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Melissa177 wrote: »I don't believe that for one min. There is a flat over the road from me, identical to mine (kitchen & bathroom a bit smaller if anything, though the whole flat is the same size) on for 65K more than I paid for mine back in Feb. Similar flats nearby are under offer at greatly inflated prices than what I was looking at six months ago.
A friend of mine has a flat in the Barbican (the City of London, which the Fool claims is dropping), and it's gone up by around 100K since last summer when he had it valued. Similar flats are under offer at these prices.
Whilst these are only what they
Oh so since you know of two flats which have increased in price, the land registry data is wrong.
PPPlease!In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
http://www.youtube.com/watch?v=sLXduS3f3bA
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