Post new topic Reply to topic  [ 211 posts ]  Go to page Previous  1 ... 8, 9, 10, 11, 12, 13, 14, 15  Next
Author Message
 Post subject: Re: London has popped.
PostPosted: Fri Jan 26, 2018 11:34 pm 
Offline
Single Home Owner

Joined: May 21, 2017
Posts: 130
"sales of new homes in London fell by a fifth over the last three months of 2017 compared with the previous quarter. “New starts on site also fell by a fifth, but starts still out-paced sales … so the number of unsold units continues to grow.”

https://www.theguardian.com/business/20 ... il-to-sell

Mis-match of supply and demand, Londoners looking for affordable housing, developers dreaming of foreign billionaires. Painful adjustment coming.

Never happen here, of course :x

https://www.irishtimes.com/business/eco ... -1.3367564


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Sat Jan 27, 2018 8:51 am 
Offline
Planning Tribunal Attendee

Joined: Nov 8, 2006
Posts: 1271
Lefournier3 wrote:

Mis-match of supply and demand, Londoners looking for affordable housing, developers dreaming of foreign billionaires. Painful adjustment coming.



If London property drops much then it will not help the narrative that they are doing fine since the Brexit vote...I suspect unless Corbyn gets in nothing will change much as they will continue to lie empty. :(


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Sat Jan 27, 2018 2:11 pm 
Offline
Back Home with Mammy

Joined: Oct 7, 2017
Posts: 54
[quote=

If London property drops much then it will not help the narrative that they are doing fine since the Brexit vote...I suspect unless Corbyn gets in nothing will change much as they will continue to lie empty. :([/quote]

What do you think Corbyn is going to do?
Maybe he'll give every immigrant a free house and that will sort out the problem!!


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Sat Jan 27, 2018 9:07 pm 
Offline
Too Big to Fail

Joined: Aug 23, 2008
Posts: 3583
Location: Bogtrotterland!
beattie wrote:
Lefournier3 wrote:

Mis-match of supply and demand, Londoners looking for affordable housing, developers dreaming of foreign billionaires. Painful adjustment coming.



If London property drops much then it will not help the narrative that they are doing fine since the Brexit vote...I suspect unless Corbyn gets in nothing will change much as they will continue to lie empty. :(

From what I’ve been hearing, some investors have zero interest in occupying or even fitting out properties, they just want the "bricks & mortar" to act as a physical investment. It's when they start bailing out, that's the time for other investors to worry.

_________________
"Democracy is like sausage, you want it, but you don't want to know how it is made". [John Godfrey Saxe]
Ronald Coase, Nobel Economic Sciences, said in 1991 “If we torture the data long enough, it will confess.”
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
"To be precise, my mistake. Humans are underrated": Elon Musk


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Sun Jan 28, 2018 10:07 am 
Offline
Single Home Owner

Joined: May 21, 2017
Posts: 130
dolanbaker wrote:
beattie wrote:
Lefournier3 wrote:

Mis-match of supply and demand, Londoners looking for affordable housing, developers dreaming of foreign billionaires. Painful adjustment coming.


From what I’ve been hearing, some investors have zero interest in occupying or even fitting out properties, they just want the "bricks & mortar" to act as a physical investment. It's when they start bailing out, that's the time for other investors to worry.

Flippers are more volatile that BTL investors who are far more volatile than owner-occupiers but "hot money" is the most volatile of all. If they get burnt, they could leave overnight and never return - even to London, the global leader in the field.


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Mon Jan 29, 2018 11:49 pm 
Offline
Neo Landlord

Joined: Sep 9, 2017
Posts: 266
More Leo-nomics at work in London. Never does it occur to anyone that the house prices are too goddam high, not least the money saving expert Martin Lewis. But if 27 year old middle income workers stop luxuriating in £4.50 dinners in their canteen, that dream 1 bedroom flat shining on a hill in Tooting may be realised.

I'm not sure if this generation has the stamina to keep putting up with this garbage forever, some will pop eventually.

Quote:
House prices have grown faster than rents and incomes, moving far beyond what is considered affordable, especially for twentysomethings. The only people my age I know who have bought a house have done so outside London, as part of a couple, with help from their parents or all three. But you wouldn’t know that from the commentators who argue that a deposit would be within the grasp of all millennials – if only we would cut back on takeaway coffee and avocado toast.


https://www.theguardian.com/money/2018/jan/29/can-you-really-save-for-a-deposit-by-ditching-coffee-and-avocado-toast-i-tried-to-find-out


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Wed Feb 07, 2018 2:24 pm 
Offline
Single Home Owner

Joined: May 21, 2017
Posts: 130
FT reports London asking prices discounted heavily and actual prices in prime areas are down from 2014 peak.

"Prices per square foot in prime London have fallen 5 per cent since their 2014 peak while in the most expensive “prime central” areas they are down 11 per cent."

https://www.ft.com/content/b5d22bbe-0b5 ... f857ea9f09


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Sat Feb 10, 2018 8:36 pm 
Online
Of Systemic Importance

Joined: Sep 13, 2012
Posts: 5210
London has a glut of posh homes for sale
https://ftalphaville.ft.com/2018/02/08/ ... -for-sale/

Comments are good as usual. This is my favourite.

Quote:
Definitely my favourite thing about this brewing housing mess is the emotions that are bubbling to the surface on the comments sections of articles like this - the desperate fear and anger of the owners, the bitterness and shadenfreude of the terminally leased; I want to mix it all into a fiery tonic and rub it into my balls.

_________________
"It's easy to confuse what is with what ought to be, especially when what is has worked out in your favour"
Tyrion Lannister


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Mon Mar 12, 2018 10:33 am 
Offline
Nationalised
User avatar

Joined: Apr 1, 2010
Posts: 10614
London property prices fall as much as 15% as Brexit effect deepens

_________________
"Prediction is very difficult, especially about the future" – Niels Bohr


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Mon Mar 12, 2018 12:05 pm 
Offline
Neo Landlord

Joined: Sep 9, 2017
Posts: 266
Last line of that article suggests the British are paying themselves 2.5% pay rises. But inflation is measured at 3%, so they are still down. At least wages are unusually outpacing house prices. Lucky sods. :x

Quote:
With the most recent official data showing earnings growth averaging 2.5%, that means that unusually, wages are currently outpacing house prices.


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Mon Mar 12, 2018 1:44 pm 
Offline
Too Big to Fail
User avatar

Joined: May 6, 2008
Posts: 4632
Location: the nearest faraway place
Price rises still up in the Northwest with Blackburn the highest, so what's that then, an extra £500 this year on the average terrace?

Manchester is looking seriously dodgy with empty apartment blocks.

_________________
Every single frozen corpse in the Death Zone on Everest was once a highly motivated person.

Those who don't study history are doomed to repeat it. Those who do study history are doomed to watch everyone else repeating it.


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Mon Mar 12, 2018 8:02 pm 
Offline
Property Magnate

Joined: Oct 11, 2012
Posts: 704
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.


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Tue Mar 13, 2018 11:00 am 
Offline
Holiday Home Owner
User avatar

Joined: Feb 7, 2008
Posts: 316
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...


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Tue Mar 13, 2018 12:12 pm 
Offline
Speculator

Joined: Aug 30, 2015
Posts: 464
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:


Top
 Profile  
 
 Post subject: Re: London has popped.
PostPosted: Tue Mar 13, 2018 1:25 pm 
Offline
Nationalised
User avatar

Joined: Apr 1, 2010
Posts: 10614
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...

Both of 'em short-changed the taxpayer :x

_________________
"Prediction is very difficult, especially about the future" – Niels Bohr


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 211 posts ]  Go to page Previous  1 ... 8, 9, 10, 11, 12, 13, 14, 15  Next


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Click for Latest Posts LATEST POSTS Click for Forum List FORUMS   

Follow, Retweet @dailypinster

  

Pyramid Built, Is Better Built!