It looks like it's begun!

Thrugelmir

padington wrote: »

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.

Global QE to remedy the London housing market woes.......

What Enid Blyton book's do you still read?

padington

Thrugelmir wrote: »

Global QE to remedy the London housing market woes.......

What Enid Blyton book's do you still read?

It won't be designed to ready our woes but it certainly will.

Gigervamp

chucknorris wrote: »

How familiar are you with Battersea? I've got 4 properties there, and have owned property there since 1991, and lived there for over 10 years. When they started building/selling all these new build flats there, I was amazed why people were buying them for so much, when you could get a decent 3 bed Victorian house for about £250k more. They were never (still not IMO) good value, when compared to the period houses in Battersea (which are usually also in a better micro area of Battersea).

I remember years ago (in the 80s) when the council sold one of their blocks of flats to developers, who turned them into *luxury apartments*, complete with gym and parking.

Trouble was, the block in question was on the notorious Winstanley Estate in Battersea! Could never understand why anyone would choose to live there.

chucknorris

Gigervamp wrote: »

I remember years ago (in the 80s) when the council sold one of their blocks of flats to developers, who turned them into *luxury apartments*, complete with gym and parking.

Trouble was, the block in question was on the notorious Winstanley Estate in Battersea! Could never understand why anyone would choose to live there.

Firstly if these flats are where I think they are, they are not IMO 'luxury' flats, although I do think that they are reasonable flats. I think that you are probably talking about the Falcons blocks on Falcon Road? The thing about those 2 blocks is that they are right on the fringe on the Winstanley estate, and actually on Falcon Road (i.e. you don't have to access them via the estate). Although I note that you didn't mention a swimming pool (which I believe that they have), so maybe you are talking about somewhere else, but if you are talking about the falcons, it isn't a bad location, and anyone who bought there would have definitely made lots of profit. Although, that said, I wouldn't live in London now, I like rural Surrey too much, but of course you don't have to live there to profit from them.

cells

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.

you are just one person so when you see a handful of developments with a couple hundred flats in each you think wow look at all these flats.......while 100,000 additional people arrive each year who need 50,000 homes yet only 20,000 or so are forthcoming

cells

London needs at least 60,000 new builds a year and without state/council intervention it wont happen. The only realistic way I can see London adding a million homes (needed by 2035) is if whole groups of streets are compulsory purchased and bulldozed and rebuilt at 3 times the density.

This is happening to a small degree via the councils knocking down some of their own estates and rebuilding 2x as many flats in their place however they are making a mistake they should be building at 5x the density. They probably wouldn't meet car parking space regs but so what the people who live in them will get used to not using cars and often they are in z2 anyway so close to everything.

---

or the state needs to sell off about 40,000 state owned homes per year in London and encourage the 100,000 residents to move to outside of London.

caronoel

chucknorris wrote: »

Firstly if these flats are where I think they are, they are not IMO 'luxury' flats, although I do think that they are reasonable flats. I think that you are probably talking about the Falcons blocks on Falcon Road? The thing about those 2 blocks is that they are right on the fringe on the Winstanley estate, and actually on Falcon Road (i.e. you don't have to access them via the estate). Although I note that you didn't mention a swimming pool (which I believe that they have), so maybe you are talking about somewhere else, but if you are talking about the falcons, it isn't a bad location, and anyone who bought there would have definitely made lots of profit. Although, that said, I wouldn't live in London now, I like rural Surrey too much, but of course you don't have to live there to profit from them.

I bought a two bed in one of the low rises in the Falcons in 2009 for under £250k - now changing hands for £450k.

:rotfl::rotfl:

Same tenants have been in there now for all that time, yielding 9% on original purchase price or 5% on today's values

Happy landlord and happy tenants!

:T

lisyloo

I think that you are probably talking about the Falcons blocks on Falcon Road?

If that is next clapham junction then I was looking at those recently.
Why would anyone want to live there?
Aren't the pros obvious?
Well comparatively cheap, excellent links to central London, the one I looked at had parking spaces, gym, swimming pool etc.

I did some research and wasn't prepared to live there (gated community rings alarm bells), but I wouldn't deny that there are pros.

Is there period property this close to central London that's reasonably priced and not in an area most people wouldn't want to live?

We only look at one bed flats because of the price point, but wouldn't buy a barratt shoe box because they are overpriced.

Landofwood

Thrugelmir wrote: »

Did hear that Asian investors have offloaded around £800 million of London property this year so far.

Link to source please

padington

Landofwood wrote: »

Link to source please

It means someone bought £800 million.