Is the credit crunch really ending?

snoopy78

Yeah London is beyong belief, I own a 1 bed flat in the Clapham area and could buy my parents 5 bed house and have money left over. And they live in a very nice place, with some of the best schools in the country, amoung the least in crime and with lots of green open spaces.

Vincenzo

snoopy78 wrote: »

Yeah London is beyong belief, I own a 1 bed flat in the Clapham area and could buy my parents 5 bed house and have money left over. And they live in a very nice place, with some of the best schools in the country, amoung the least in crime and with lots of green open spaces.

And I suspect many of its inhabitants have to commute to London to earn a decent wage.....

That is what keeps prices in London higher than everywhere else (on average).

brit1234

Vincenzo wrote: »

Really? That remains to be seen......

No it doesn't its already shown on all the property price surveys, Property Bee, Property Snake or my own eyes in Brentford Dock.

What more can I saw, the only thing saying prices aren't coming down in London is you.

Here is the article in Todays Evening Standard showing year on year falls in London.

http://www.thisislondon.co.uk/standard/article-23481767-details/House+slump+has+put+thousands+of+first-time+buyers+in+negative+equity/article.do

Vincenzo

brit1234 wrote: »

No it doesn't its already shown on all the property price surveys, Property Bee, Property Snake or my own eyes in Brentford Dock.

What more can I saw, the only thing saying prices aren't coming down in London is you.

Here is the article in Todays Evening Standard showing year on year falls in London.

http://www.thisislondon.co.uk/standard/article-23481767-details/House+slump+has+put+thousands+of+first-time+buyers+in+negative+equity/article.do

I never said prices have not fallen - I merely commented on your statement that 'Prices are coming down fast'. I said that remains to be seen. It does. Please do not put words in my mouth.

On another point - using asking prices to indicate price falls is, frankly, fraught with pitfalls. I suspect if you undertook the same searches in the boom you would have found similar falls in asking prices. People tend to test the market with high initial prices. More so in a booming market.

Vincenzo

Also - have you looked at the source of the prices on that table???

Winkworth estates agents!!! - these are their 'guide' to prices.

Again, please refer to my earlier statement. The extent of price falls remains to be seen!

phil_b_2

brit1234 wrote: »

No it doesn't its already shown on all the property price surveys, Property Bee, Property Snake or my own eyes in Brentford Dock.

What more can I saw, the only thing saying prices aren't coming down in London is you.

Here is the article in Todays Evening Standard showing year on year falls in London.

http://www.thisislondon.co.uk/standard/article-23481767-details/House+slump+has+put+thousands+of+first-time+buyers+in+negative+equity/article.do

It can be tricky interpreting data like that. Some of those areas are doing fine. st johns, wimbledon and kentish havnt budget. Some good reductions overall though. We'll see how it continues.

As for property snake, I dont trust it as far as I could crap it out. Have you seem some of the data alterations on that site?? There are listings with a claimed start price of 500k for example, that were reduced to 300k a week later, then back up to 400k, then back up to 500k, then all mamor of further random changes until landing on 200k or something. then you try to find that property on rightmove etc and it doesnt exist.

brit1234

Vincenzo wrote: »

People tend to test the market with high initial prices. More so in a booming market.

Oh so when buying a house it is standard to ask for a discount, taken on board, thanks.
:EasterBun

Vincenzo

brit1234 wrote: »

Oh so when buying a house it is standard to ask for a discount, taken on board, thanks.
:EasterBun

Again - not what I said. Perhaps you should stick to your cartoons.

mr.broderick

brit1234 wrote: »

Oh so when buying a house it is standard to ask for a discount, taken on board, thanks.
:EasterBun

Can you please stop...

fc123

Markyt wrote: »

But doesn't retail always trail the trend by a couple of months? If the confidence is returning to the public, then retail will respond later.

OK I will keep you all updated BUT I am now implementing a NEW MasterPlan for Independent retail survival.

I will post where relevant as I chat to all the local chain mngrs who tell me how it really is.
Forget 3% down bla bla.......all major chains in my sector (clothing) are down 30%- 40% on prev yr same premises. The chains HO's are driving T/O through markdowns / promos and are going to worry about margins in 6 mnths time
Satisfyingly, our nearby Starbucks is DOWN :T :T though they opened a new branch in town. A 3rd is about to appear on an, almost, totally Indie St. The locals Anti Starbucks (and all it represents) guerillas have a campaign set up already.

I won't be able to post like for likes as I am changing our business from Sept 08 (Totally scary) as needs as must. I wont survive this downturn if I follow my signature.
Entrepreneurial to the end.....have a horrendous rent review to fight this year....shop valued at 70% more :rotfl: :rotfl: :rotfl:
Except I can't afford to risk losing.