Lunatic London Property market starting to turn?

economic

padington wrote: »

When you say strong economically, do you mean ending enforced annual leave, lunch breaks, maternity pay, health and safety legislation, minimum wages and further eroding workers rights to raise wages generally ?

we can have our own laws. we ca pick and choose ones which suit us best. not suit the whole of the EU even though some may not suit us.

padington

economic wrote: »

we can have our own laws. we ca pick and choose ones which suit us best. not suit the whole of the EU even though some may not suit us.

Every day unemployed people chose their own house rules, they dont cooperate with anyone. They don't team up. They don't compromise.

They also don't achieve much.

It's not a rewarding path.

antrobus

Thrugelmir wrote: »

The British Empire was a major factor. Not forgetting the East India Company (founded 1600) either. .

Opium trade. Very profitable.

parking_question_chap

I think the house prise increase is slowing simply because they have increased to far above salaries. People can no longer afford them. Demand still way outstrips supply, so I cant see a major crash. Though I would love one to happen.

AG47

parking_question_chap wrote: »

I think the house prise increase is slowing simply because they have increased to far above salaries. People can no longer afford them. Demand still way outstrips supply, so I cant see a major crash. Though I would love one to happen.

Janet Hellen also just said I can't see a major crash on the horizon

Just like helicopter ben said early 2008 :rotfl:

chucknorris

AG47 wrote: »

Janet Hellen also just said I can't see a major crash on the horizon

Just like helicopter ben said early 2008 :rotfl:

London properties are way higher than their 2007 peak before the 2008 crash, never mind above the 2008 crash value. There will probably always be corrections followed by an eventual recovery, I really don't see what the bears like you are hoping for? I can obviously understand someone who is about to buy taking an interest, but people like you and Crashy, I just don't see why you care so much? What is really strange is that you are the ones that seem to be are obsessed with HPI (not the bulls).

Thrugelmir

antrobus wrote: »

Opium trade. Very profitable.

Slavery even.

TonyMMM

Prices in our area - prime commuter belt just outside London - have definitely been static for quite a while now.

Most interesting change is the rental property a few doors away which has just been advertised at about 20% lower monthly rental than the last time it changed occupants about 3 years ago.

Windofchange

Interestingly quite a lot of negative sentiment in the newspapers today:

"UK house prices - is a crash coming?" City AM

http://www.cityam.com/267658/uk-house-prices-crash-coming-these-economists-thinks-so


"House prices on the brink of massive collapse" - The Metro

http://metro.co.uk/2017/07/02/house-prices-are-on-the-brink-of-massive-collapse-6749532/

Britain on the edge of worst house price collapse since 1990's" The Sun

https://www.thesun.co.uk/news/3928898/britain-on-edge-of-worst-house-price-collapse-since-1990s-as-experts-warn-property-value-could-plunge-by-40/

Whether you agree or not, it is hard to escape the fact that sentiment is a huge driver with property. It has been a one way bet, a quick ride to a fortune, can't lose with BTL mate. I wonder how quickly things will reverse should thoughts such as these permeate the mindsets of the masses?

The national association of estate agents reports that three quarters of homes sold for below asking price in May:

http://www.cityam.com/267399/more-than-three-quarters-homes-selling-less-than-asking

Yes, I know it is a tactic to put something up for more than you can get so you can offer a reduction, but in a booming housing market these places were getting brought for asking price or above.

Add to this the already widely published dropping like a stone prices in prime London and I think we are building quite a bearish picture. Inflation going up and away, living standards dropping, protesters on the street, emergency interest rates, record unsecured debt, help to buy, help to buy ISA's, family mortgages, Shared ownership.

All the signs are there that this is unravelling and unravelling fast.

economic

Windofchange wrote: »

Interestingly quite a lot of negative sentiment in the newspapers today:

"UK house prices - is a crash coming?" City AM

http://www.cityam.com/267658/uk-house-prices-crash-coming-these-economists-thinks-so


"House prices on the brink of massive collapse" - The Metro

http://metro.co.uk/2017/07/02/house-prices-are-on-the-brink-of-massive-collapse-6749532/

Britain on the edge of worst house price collapse since 1990's" The Sun

https://www.thesun.co.uk/news/3928898/britain-on-edge-of-worst-house-price-collapse-since-1990s-as-experts-warn-property-value-could-plunge-by-40/

Whether you agree or not, it is hard to escape the fact that sentiment is a huge driver with property. It has been a one way bet, a quick ride to a fortune, can't lose with BTL mate. I wonder how quickly things will reverse should thoughts such as these permeate the mindsets of the masses?

The national association of estate agents reports that three quarters of homes sold for below asking price in May:

http://www.cityam.com/267399/more-than-three-quarters-homes-selling-less-than-asking

Yes, I know it is a tactic to put something up for more than you can get so you can offer a reduction, but in a booming housing market these places were getting brought for asking price or above.

Add to this the already widely published dropping like a stone prices in prime London and I think we are building quite a bearish picture. Inflation going up and away, living standards dropping, protesters on the street, emergency interest rates, record unsecured debt, help to buy, help to buy ISA's, family mortgages, Shared ownership.

All the signs are there that this is unravelling and unravelling fast.

you worry too much. just relax its a nice sunny sunday evening