Lunatic London Property market starting to turn?

Windofchange

GreatApe wrote: »

Yes I think the local London buyers can support the local London prices.

Yup there is already a queue forming outside Battersea power plant for all those unsold flats. I hear that Rhiannon-Mercedes and Denzel are hoping to cash in their £120 a month child benefit to put a deposit down on a two bed.

GreatApe wrote: »

Battersea does not look particularly expensive to me. Prices for the new build developments look roughly similar to prices for old terrace houses in Hackney (on a per sqm basis). Battersea is probably a better location but in Hackney your buying a house not a flat.

Nothing looks particularly expensive to you. Everywhere is cheap and affordable. We've never had it better.

GreatApe wrote: »

Wandsworth (which is the borough Battersea is in) average price is £591k while London average is £483k. That seems a modest premium of £108,000 to be within walking distance of the two biggest employment hubs in London (westminster & city)

Define walking distance. You reckon everyone walks 2 - 3 miles each way into work each day? And £108 grand is modest? Hang on Denzel, we can move to Battersea, I just found £108 grand down the back of the sofa to add to our 250k deposit that we of course just have...

GreatApe wrote: »

I really love the bears. They change the goal post so many times its amusing.
I recall in early 2016 they were partying that April 2016 was the start day of the country wide crash as the BTLers were hit with +3% stamp duty, removal of W&T and the S24 and brexit. Ouch many billions drained from the housing market.

Fast Forward a year and prices from April 2016 to April 2017 are up £21,500 for London.
Admittedly wandsworth is down £8,000 but Haringey is up £42,500

For every borough you can find me that has risen in London, I can find you one that has fallen.

Crashy_Time

GreatApe wrote: »

Average of the last 6 months on LR has been 7,400 units per month for London and prices are up £21,700 on the year (April 2016 - April 2017)

:rotfl:

Great, Carney can go ahead and raise rates then? :rotfl:Stop talking s*hite, please

Windofchange

GreatApe wrote: »

Yes they will, but they dont have to there is plenty of demand in the UK to live in expensive London areas.

There's plenty of demand in the UK to have a Bentley but it doesn't mean that sales will go through the roof.

The only thing that will prove you wrong is time, and I'm not wasting any more of mine with you here.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

GreatApe

Windofchange wrote: »

There's plenty of demand in the UK to have a Bentley but it doesn't mean that sales will go through the roof.

A Bentley costs £200,000 and loses half its value in three years time. Few people have the desire to burn £100k over 3 years. A lot of people do have that sort of cash as evidence by the number who can and do send their 2-4 kids to private schools at a cost similar to the Bentley (around £200k to school a kid privately for 13 years). About 7% of the population send their kids to private schools so there is a LOT of wealth in this country.

The only thing that will prove you wrong is time, and I'm not wasting any more of mine with you here.

I am sure you would prefer to waste your time on a website that confirms your biases.

I think my views are very reasonable in fact I make little of future predictions and just state what has happened and why and why it is clearly stable.

How many years must you be wrong before you re-evaluate your views?

economic

What bagofwind fails to realise time after time after time, is that the market moves at the margin - that is its always the marginal buyer that provides the demand, not the average person.

london is expensive but certainly not a bubble. this is not a place to feel sorry for those who cant afford - its upto them to gain skills etc if they want to buy.

GreatApe

Windofchange wrote: »

Yup there is already a queue forming outside Battersea power plant for all those unsold flats. I hear that Rhiannon-Mercedes and Denzel are hoping to cash in their £120 a month child benefit to put a deposit down on a two bed.

Wandsworth is down a modest 1-2% YOY
For all your bile and hate, Londoners just get on with it

Nothing looks particularly expensive to you. Everywhere is cheap and affordable. We've never had it better.

That is a fair summation of my views but you should add that I think scotland wales NI NE NW Y&H EM WM all look not just affordable but cheap

Define walking distance. You reckon everyone walks 2 - 3 miles each way into work each day?

I think 1 mile is a comfortable walk and only takes about 15-20 mins and 2 miles is an acceptable 30-40 mins walk. I do not reckon everyone walks to work, I reckon battersea is close to zone 1 which it indeed is.

And £108 grand is modest? Hang on Denzel, we can move to Battersea, I just found £108 grand down the back of the sofa to add to our 250k deposit that we of course just have.../QUOTE]

£108k is a modest premium to live right next to the big employment hubs. The actual cost is just 2% of that in interest payments. If it saves you transport costs and 500-1000 hours transport (couple) per year that can be well worthwhile.

GreatApe

For every borough you can find me that has risen in London, I can find you one that has fallen.

Only in your bear dreams.
April 2016 - April 2017 Land Registry sold data

Westminster ............... +£70,000
Kensington&Chelsea.... +£66,400
Haringey ...................... +£46,100
Hammersmith&Fulham. +£41,400
Barnet.......................... +£38,300
Enfield......................... +£29,700
Hackney ...................... +£27,300
Richmond up Thames. +£27,000
Hounslow .................... +£26,500
Newham ...................... +26,500
Havering ..................... +£24,400
Harrow.......................... +£22,700
Bexley .......................... +£22,300
Epping Forest.............. +£22,500
Redbridge .................... +£20,500
Ealing .......................... +£18,700
Greenwhich.................. +£18,300
Barking&Dagenham...... +£18,300
Hillingdon ................... +£17,300
Croydon ...................... +£17,300
Bromley ...................... +£16,800
Sutton ........................ +£16,600
Merton ........................ +£15,400
Tower Hamlets ........... +£13,300
Lambeth ..................... +£7,100
Kingston upon Thames +£7,100
Lewisham .................. +£7,000
Brent .......................... +£6,900
Southwark ................. +£6,200



Islington....... -£3,200
City............... -£5,300
Wandsworth. -£13,500
Camden....... -£24,100

economic

Windofchange wrote: »

There's plenty of demand in the UK to have a Bentley but it doesn't mean that sales will go through the roof.

The only thing that will prove you wrong is time, and I'm not wasting any more of mine with you here.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

seems like a lot of people are fearful hence all these posts and the newspapers. so that means we should be greedy right?

padington

AG47 wrote: »

London stilll falling year on year

Haringey still booming