It looks like it's begun!

caronoel

AG47 wrote: »

Can you say bubble?

Can you say Moneyweek is a comic, and a useful alternative to Andrex?

wotsthat

Graham_Devon wrote: »

Why are you dragging this up? Preusmably you are trying to embarrass the OP after having gone through hard times?

Why though?

The OP hasn't presented any data so I'm assuming he's putting himself forward as an expert on London property. Don't know about you but it would surprise me that such an expert would need to use a food bank.

Shouldn't be too judgmental I suppose; Raymond Babbitt lived in a mental institution but was a brilliant Blackjack player so maybe something similar is happening here.

cells

chucknorris wrote: »

I've never understood why people spend almost as much on a 'luxury' 2 bed new build flat (with high service charges), when period houses offer so much better value.

In some countries flats are the norm and houses are seen as a security or privacy risk. For example in china its mostly flats. Or in turkey where 97% of all the homes are flats (most the remaining 3% will be in small villages where flats are not possible or will have been built so long ago it wasn't viable building technique)

chucknorris

cells wrote: »

In some countries flats are the norm and houses are seen as a security or privacy risk. For example in china its mostly flats. Or in turkey where 97% of all the homes are flats (most the remaining 3% will be in small villages where flats are not possible or will have been built so long ago it wasn't viable building technique)

I can understand that, (it isn't impossible that we end up buying a 'secure flat' in Spain one day), but what about Brits (rather than foreigners) buying flats over houses, and many do it. I'm not talking about significantly cheaper flats, I am specifically talking out so called 'luxury flats' that in many cases (especially when taking into account the service charges) aren't much cheaper than period houses.

AG47

It amazes me that some can try and argue there isn't a property bubble! Just look at the amount of new build flats being added to supply all over London.

happylucky

I guess this is the original article referred to in the OP: http://www.bloomberg.com/news/articles/2015-09-08/luxury-homes-unsold-after-a-year-seen-showing-south-london-glut

Although I wouldn't trust any quotation ex Foxtons as far as I could throw it, I can't really see much advantage to them deliberately talking the market down...or am I missing something?

In any case, the market trends data for SW8 on rightmove is interesting:http://www.rightmove.co.uk/house-prices-in-my-area.html (sorry, direct links won't work).

1. Land registry source sales volumes & value, cut by month and property type, on the "SOLD PROPERTIES" tab with a time lag but still useful;

2: Rightmove source ratio of "new" stock (listings) versus total stock on their books, by month and again can be cut by property type and even number of bedrooms, on the "MARKETED PROPERTIES". Not sure how they define "new to market" but no matter, so long as it's remained constant.

It's always interesting to me to see how differently individual postcodes within London can perform.

Blacklight

moneyweek lol

caronoel

AG47 wrote: »

It amazes me that some can try and argue there isn't a property bubble! Just look at the amount of new build flats being added to supply all over London.

It amazes me that some people still read a comic like Moneyweek.


It further amazes me that the same people come on here publicising the fact they read a comic like Moneyweek.

System

AG47 wrote: »

It amazes me that some can try and argue there isn't a property bubble! Just look at the amount of new build flats being added to supply all over London.

How many new build flats being are added to supply all over London?

padington

Worst case scenario I can forsee is that London and the South East will tread water for two years, which will then result in another massive round of global QE to remedy the storm. Then we'll see another housing boom. If not, they'll be a continuation of the housing boom from here on in.

It's a case of win now or be in the best place to win later.