How much can house prices keep rising ?

chucknorris

westernpromise wrote: »

But that 13% stamp duty would be a major impediment to offloading your fewer more expensive properties when you wanted to. The consensus seems to be that stamp duty is what has screwed London demand. The tax punishment for buying an expensive property has now gone past the tipping point.

Consider your canonical Chinese/Russian/Saudi investor who has the equivalent of £10 million to spend. For that money he could buy one £8.775 million property and pay £1.23 million in stamp duty.

Alternatively he could buy fourteen flats for £670k apiece and pay £44k stamp duty on each one.

He spends £10 million either way. But in the first case it buys him £8.775 million of London property, while in the second it buys him £9.38 million of London property. One of those £670k flats is, near enough, free. Its price is virtually paid for by the stamp duty savings. So what's a rational investor going to do? The return on the 14x flats option is now immediately 7% better just off the tax saved.

I know, I've already thought of that, it acts as an encouragement to buy 2 of my flats, rather than a more expensive house. But my point was from my perspective of buying, which of course fits nicely in with buying two of my flats.

Masomnia

padington wrote: »

Zone 2 not sure. Buy near a night tube though.

2 bed for £650k in zone two, night tube... Bethnal Green? Kilburn? Brixton?

economic

Masomnia wrote: »

2 bed for £650k in zone two, night tube... Bethnal Green? Kilburn? Brixton?

I sold my Kilburn flat. I don't like any of those areas you mention. Location is what I'm after. I'm thinking West Hampstead or Kensal rise.

westernpromise

Queens Park. Handy for Kilburn Park tube, actually has a park, chichi high street.

https://www.google.co.uk/maps/place/Milman+Rd,+London+NW6+6EG/@51.5349484,-0.2146894,17z/data=!3m1!4b1!4m5!3m4!1s0x4876103fef70568d:0x84ef841ac11dce7c!8m2!3d51.5349451!4d-0.2125007

A lot of scum nearby - you don't want to be north of Chevening, west of Chamberlayne or south of Harvist Road - but most roads within those bounds, as far west as Salusbury Road, are good. East of Salusbury Road is also not bad, but it blurs into west Kilburn at some point, so is no longer Queens Park.

economic

westernpromise wrote: »

Queens Park. Handy for Kilburn Park tube, actually has a park, chichi high street.

https://www.google.co.uk/maps/place/Milman+Rd,+London+NW6+6EG/@51.5349484,-0.2146894,17z/data=!3m1!4b1!4m5!3m4!1s0x4876103fef70568d:0x84ef841ac11dce7c!8m2!3d51.5349451!4d-0.2125007

A lot of scum nearby - you don't want to be north of Chevening, west of Chamberlayne or south of Harvist Road - but most roads within those bounds, as far west as Salusbury Road, are good. East of Salusbury Road is also not bad, but it blurs into west Kilburn at some point, so is no longer Queens Park.

my flat was on buckley road. definately kilburn. i would never buy in that area again. the areas you suggest are good however west of chamberlyne road is ok too as long as not too far.

its funny i think you and i mde a similar move. i remember you were in kilburn and now highgate. i did the same move.

Masomnia

I think you'll be pushing your budget to get a two bed flat for 650k in Kensal Rise or West Hampstead, but you never know.

economic

Masomnia wrote: »

I think you'll be pushing your budget to get a two bed flat for 650k in Kensal Rise or West Hampstead, but you never know.

kensal rise is def possible. queens park and west hampstead not so sure but depends on the road and size.

Masomnia

Yeah I'm just looking on right move and there are some, maybe I'm being a bit pessimistic. Queens Park would be a good location, but I'd be wary of anything south of the railway lines myself.

Kensal Rise is probably do-able, if you did look West of Chamberlayne (you might be suripsed) you'd find something.

Masomnia

This would be perfect!

Who wouldn't want to live in that house? Great location.

Must be WW2 bombing.

economic

Masomnia wrote: »

This would be perfect!

Who wouldn't want to live in that house? Great location.

Must be WW2 bombing.

good location but too small. i imagine the price will need reducing