How low will property go?

Aberdeenangarse

Crashy_Time wrote: »

I recognise Bruce Banner, The Masked Tulip and Venger. Who are the other two?

Crashy_Time

Aberdeenangarse wrote: »

I recognise Bruce Banner, The Masked Tulip and Venger. Who are the other two?

Well the one in the green hat is you, and the one in the middle with the yellow toilet unblocking kit is CrashNorris King of Clowns :rotfl:

Conrad

So back in about 2011 some of us here were suggesting it was not a bad time to buy property, but as ever the doomers wanted to hang on and on just in case the absolute bottom might lie ahead.

They of course missed the opportune investment opportunity and what's the betting they hang on and on this time instead of buying into the current lull....

This is brief and slight lull, in a few months we'll have a much more active property market

michaels

Conrad wrote: »

So back in about 2011 some of us here were suggesting it was not a bad time to buy property, but as ever the doomers wanted to hang on and on just in case the absolute bottom might lie ahead.

They of course missed the opportune investment opportunity and what's the betting they hang on and on this time instead of buying into the current lull....

This is brief and slight lull, in a few months we'll have a much more active property market

Interesting you are seeing a lull as it still seems crazy here.

cells

michaels wrote: »

Interesting you are seeing a lull as it still seems crazy here.

its surprising how different the boroughs are on a short time frame.

Hackney and Islington are flat over the last 12 months literally +0%

Haringey and Waltham-Forest next door is up 20% over the last 12 months

Longer term comparisons are more steady.

cells

Wow should have invested in Waltham-Forstest.
Jan 20013 - April 2016

Waltham Forest +76%
Haringey +57%
Hackney +47%
Islington +38%
Kensinton +15%

Looks like the center of wealth is moving east.
I suppose it makes sense, where are a lot of the new offices going up? City and Docklands

Conrad

I'm looking more outer north than east London as east is getting very over priced

westernpromise

cells wrote: »

Wow should have invested in Waltham-Forstest.
Jan 20013 - April 2016

Waltham Forest +76%
Haringey +57%
Hackney +47%
Islington +38%
Kensinton +15%

Looks like the center of wealth is moving east.
I suppose it makes sense, where are a lot of the new offices going up? City and Docklands

It's more a case of the decent areas have maxed out. When 2 bedrooms in Little Venice are a million quid and you've only got £900k, 2 bedrooms in Maida Vale promptly go up to £900k, which is the highest bid from people priced out of Little Venice. If you've only got £800k then you bid 2 bedrooms in Queen's Park up to £800k now you're priced out of Maida Vale. And if you've only got £600k then you buy in Kilburn.

All these places continue to go up in the general direction of top whack for a 2-bedroom property and continue to do so elsewhere once local top whack has been achieved. They also shed value fastest in a downturn; If Little Venice drops to £950k who's going to pay £900k for Maida Vale? It'll be £750k again PDQ.

sann420

When I was buying in 2013 I looked at both Hackney and Waltham Forest. Both were nice up and coming places but Hackney had advantage of transport links as its very close the city so combination of bus + overground literally take you every where.

economic

westernpromise wrote: »

It's more a case of the decent areas have maxed out. When 2 bedrooms in Little Venice are a million quid and you've only got £900k, 2 bedrooms in Maida Vale promptly go up to £900k, which is the highest bid from people priced out of Little Venice. If you've only got £800k then you bid 2 bedrooms in Queen's Park up to £800k now you're priced out of Maida Vale. And if you've only got £600k then you buy in Kilburn.

All these places continue to go up in the general direction of top whack for a 2-bedroom property and continue to do so elsewhere once local top whack has been achieved. They also shed value fastest in a downturn; If Little Venice drops to £950k who's going to pay £900k for Maida Vale? It'll be £750k again PDQ.

exactl right. this is partly why i sold in kilburn and bought in highgate. my view is there is a top in prices in london so highgate will be a lot safer as an investment (and of course nicer area to live in). if/when i trade up it will be easier to sell at a higher price in a down market as well as up (although i would only trade up in a down market).