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 Post subject: Re: London has popped.
PostPosted: Tue Mar 13, 2018 8:39 pm 
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Big variations across London, many lower-cost areas increased, pricier areas dropped but Kensington is up.

Still, oligarchs won't like this headline in their favourite property supplement:
https://www.mansionglobal.com/articles/ ... -recession


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 Post subject: Re: London has popped.
PostPosted: Tue Mar 13, 2018 8:40 pm 
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onioneater wrote:
blanchguy wrote:
mortgageboy wrote:
I recall a lot of people criticizing NAMA for selling London property (e.g., Battersea) too soon. If they'd held on till now, they probably couldn't shift it at all.


Surely you aren't suggesting that Mick Wallace has called the property market badly...



:lol:

And :lol: from me too.

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 Post subject: Re: London has popped.
PostPosted: Wed Mar 14, 2018 11:20 pm 
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London popped about 3 years ago.


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 Post subject: Re: London has popped.
PostPosted: Thu Mar 15, 2018 2:40 am 
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Sosthenes wrote:
London popped about 3 years ago.


May I kindly refer you to the start of this very thread - viewtopic.php?f=11&t=62705 :x

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 Post subject: Re: London has popped.
PostPosted: Thu Mar 15, 2018 8:26 am 
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Open Window wrote:
Sosthenes wrote:
London popped about 3 years ago.


May I kindly refer you to the start of this very thread - viewtopic.php?f=11&t=62705 :x


So are we seeing an example for a “soft landing” here?


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 Post subject: Re: London has popped.
PostPosted: Thu Mar 15, 2018 10:10 am 
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newirishman wrote:
Open Window wrote:
Sosthenes wrote:
London popped about 3 years ago.


May I kindly refer you to the start of this very thread - viewtopic.php?f=11&t=62705 :x


So are we seeing an example for a “soft landing” here?



The drops are getting droppier.


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 Post subject: Re: London has popped.
PostPosted: Thu Mar 15, 2018 7:58 pm 
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mr_anderson wrote:
newirishman wrote:
Open Window wrote:
Sosthenes wrote:
London popped about 3 years ago.


May I kindly refer you to the start of this very thread - viewtopic.php?f=11&t=62705 :x


So are we seeing an example for a “soft landing” here?



The drops are getting droppier.


The drooops are getting drooooopier?


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 Post subject: Re: London has popped.
PostPosted: Tue Mar 27, 2018 10:25 pm 
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UK homeowners moving far less often than in the past.

Quote:
http://www.bbc.com/news/business-43541990
Homeowners are moving half as often as they did before the credit crunch, figures produced for the BBC suggest.

Reasons include high house prices, stricter rules on getting mortgages and older people staying on in large properties.

People used to move house roughly four times after their first purchase. Now it is more like twice.

There is a boom in extending homes instead, as parents strive to create enough space to cram in their families.

"Those not trading up are the forgotten people of the housing market," said Lucian Cook, head of residential research at estate agent Savills.

"We've concentrated on first-time buyers. They get the concessions and all the focus has been on getting people onto the housing ladder."

Even so, Mr Cook said he was surprised at the results of research on moving, undertaken by Savills for BBC News, which showed:

Before 2008, homeowners moved, on average, 3.6 times, after buying their first property
In recent years, the slower pace of buying and selling suggests they will move, on average, 1.8 times over their lifetimes

Eddie Greenhalgh is extending his home in Burnage in Manchester in every direction he can and saving, he estimates, around £200,000 in the process.


Estate agents worst nightmare as fewer properties on the market mean fewer sales.

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 Post subject: Re: London has popped.
PostPosted: Thu Apr 12, 2018 7:09 am 
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Stamp duty and Brexit 'have killed London market', says Rics report.

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 Post subject: Re: London has popped.
PostPosted: Thu Apr 12, 2018 7:41 pm 
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ps200306 wrote:


That report doesn't factor in the latest and biggest threat to premium London real estate

https://www.wsj.com/articles/u-k-ire-at ... 1521798378

And don't assume the Yanks won't use this weapon against e.g. Chinese billionaires.


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 Post subject: Re: London has popped.
PostPosted: Fri Apr 13, 2018 6:35 am 
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London house prices falling at fastest rate in nine years, says Halifax

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 Post subject: Re: London has popped.
PostPosted: Sun Apr 15, 2018 6:18 pm 
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mortgageboy wrote:
I recall a lot of people criticizing NAMA for selling London property (e.g., Battersea) too soon. If they'd held on till now, they probably couldn't shift it at all.


It seems the Malaysian owners don't want to hold it too long more: they recently sold a stake for a cash injection to finish the development and now there are fears of a glut in the vicinity.

https://www.ft.com/content/6dd10888-3d8 ... 972418fec4
https://www.ft.com/content/2b967d1a-fc3 ... d59aace167

Quote:
A glance at property listings online reveals hefty discounts being offered as owners cut overblown prices. A one-bedroom flat in Aykon London One, a 50-story tower planned by Dubai-based developer Damac Properties, is being offered at £1.1m — a 36 per cent discount to its initial £1.7m price in November.



It seems that one London borough is building more new homes than this entire State. :nin

Quote:
Wandsworth council anticipates roughly 20,000 new homes will be built in the area, along with roughly 6.5m sq ft of commercial space.


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 Post subject: Re: London has popped.
PostPosted: Wed Apr 18, 2018 2:25 pm 
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Quote:
House prices in London have seen the first annual fall since immediately after the financial crisis, according to government figures which showed gains in every other region across the country.

In the latest sign that the property market in the capital is slowing down, figures from the Office for National Statistics show the average price of a home in London fell by almost £5,000 over the 12 months to February.

While prices rose in some areas and suburbs of the capital, the central borough of Tower Hamlets, skirting the eastern edges of the City of London and encompassing the financial district of Canary Wharf, saw the steepest falls – with average prices down by almost 8%. The average price of a home for the capital as a whole was £471,986, down from a peak of £488,247 in July last year.

https://www.theguardian.com/business/20 ... average-uk

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 Post subject: Re: London has popped.
PostPosted: Thu Apr 26, 2018 2:28 pm 
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catbear wrote:
Quote:
House prices in London have seen the first annual fall since immediately after the financial crisis, according to government figures which showed gains in every other region across the country.

In the latest sign that the property market in the capital is slowing down, figures from the Office for National Statistics show the average price of a home in London fell by almost £5,000 over the 12 months to February.


Also international real estate dealers do not recommend London as a good place for foreign investments anymore. it doesn't look good for the economy of the city. All this rich foreigners who were looking for a apartments and houses in London before now will go to Spain or Greece, cause their markets look more profitable :( This article is a proof https://tranio.com/articles/the-best-ci ... y-in-2018/


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 Post subject: Re: London has popped.
PostPosted: Fri May 11, 2018 1:22 pm 
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Posts: 131
Trying to lure investors with the prospect of rent increases in the UK, but no calculations to back it up.
http://www.propertyreporter.co.uk/prope ... stors.html

When it takes 38 years rent to buy a property, even a 3% fall in house prices will wipe out an entire year's rental income.

https://www.globalpropertyguide.com/Eur ... rent-ratio

Couldn't happen here of course because the demand will always outstrip supply. :evil:

In fact, it's the opposite of what happened here in the boom years when rents failed to rise but BTL landlords consoled themselves with "it's all about the capital gain" . Until one fine day, it wasn't.


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