How is the London market?

amateur_house

economic wrote: »

how much do you need for your ideal house to fall by?

Ideal house, probably about 60%
A house I could live in and not have to move again, around 15-20% (£20-25k)
As it is I am looking at houses I could live in for around 5 years whilst saving £5k a year and cashing in as much of my pension as I am allowed to when I am 55 to make the move.
(Sorry OP, I don't mean to hijack your thread about the London property market).

Tiners

https://www.theguardian.com/business/2017/may/03/buy-a-home-get-a-car-free-offers-galore-as-london-estate-agents-struggle-to-sell

Sausage11

Tiners, that's a chilling article. And Crashy's piece about Home Capital sounds very much like some of the early occurrences in the run up to the credit crunch.

I've thought for some time that the housing market looks stable so long as the BoE can keep selling debt at such ridiculously low levels (Return Fee Risk!). But if inflation starts to be imported and rates start to rise, things could get pretty ugly pretty quickly.

Crashy_Time

amateur_house wrote: »

Ideal house, probably about 60%
A house I could live in and not have to move again, around 15-20% (£20-25k)
As it is I am looking at houses I could live in for around 5 years whilst saving £5k a year and cashing in as much of my pension as I am allowed to when I am 55 to make the move.
(Sorry OP, I don't mean to hijack your thread about the London property market).

How about moving out of London.....


http://www.rightmove.co.uk/property-for-sale/property-66125132.html

Crashy_Time

http://www.bbc.co.uk/news/business-39803515


London prices especially will be putting people off borrowing?

amateur_house

Crashy_Time wrote: »

How about moving out of London.....


http://www.rightmove.co.uk/property-for-sale/property-66125132.html

You could probably buy something in London cheaper than £1.3 million! Maybe not with 11 bedrooms, or quite so much land as that...

Crashy_Time

amateur_house wrote: »

You could probably buy something in London cheaper than £1.3 million! Maybe not with 11 bedrooms, or quite so much land as that...

I`m thinking there might be a problem with that house, lease/repairs/flooding/planning permission/something? seems a bit too cheap (never thought I`d say that :eek: )

Crashy_Time

Sausage11 wrote: »

Tiners, that's a chilling article. And Crashy's piece about Home Capital sounds very much like some of the early occurrences in the run up to the credit crunch.

I've thought for some time that the housing market looks stable so long as the BoE can keep selling debt at such ridiculously low levels (Return Fee Risk!). But if inflation starts to be imported and rates start to rise, things could get pretty ugly pretty quickly.

Rising rates would put massive pressure on London`s bubble no doubt.