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 Post subject: Re: London has popped.
PostPosted: Thu Jul 12, 2018 4:37 pm 
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Massive plunge for UK property prices

https://www.telegraph.co.uk/property/ho ... -stagnate/


Last edited by Inis Man on Thu Jul 12, 2018 6:34 pm, edited 1 time in total.

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 Post subject: Re: London has popped.
PostPosted: Thu Jul 12, 2018 5:32 pm 
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Inis Man wrote:
Massive plunge for UK property prices

https://www.telegraph.co.uk/property/ho ... tagnate/by

That story seems to have been pulled, any other links?

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 Post subject: Re: London has popped.
PostPosted: Thu Jul 12, 2018 6:33 pm 
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catbear wrote:
Inis Man wrote:
Massive plunge for UK property prices

https://www.telegraph.co.uk/property/ho ... tagnate/by

That story seems to have been pulled, any other links?



https://www.telegraph.co.uk/property/house-prices/value-uk-property-market-falls-269bn-house-prices-stagnate/


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 Post subject: Re: London has popped.
PostPosted: Sat Jul 14, 2018 11:46 am 
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Inis Man wrote:
Massive plunge for UK property prices

https://www.telegraph.co.uk/property/ho ... -stagnate/


No "massive plunge" - the report shows mixed results among UK regions.

Still, the London market remains weak with no sign of recovery in demand while nationally there have been 16 straight months of sales declines.

https://www.bloomberg.com/news/articles ... erty-wanes

http://www.rics.org/de/news/news-insigh ... o-heat-up/


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 Post subject: Re: London has popped.
PostPosted: Wed Jul 18, 2018 5:00 pm 
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Luxury London homes being sold in bulk as demand drops https://www.ft.com/content/99072e92-8a6 ... 71d5404543 via @financialtimes
Quote:
London’s luxury developers are selling off homes in bulk to corporate landlords after a drop in demand for expensive new-build homes among individual buyers. 

Almost 40 per cent of London new-build sales in the second quarter of 2018 were to bulk buyers, who generally purchase at a steep discount with the aim of setting up portfolios of rented homes for large-scale investors. 

Such purchases are masking continued drops in individual sales of new apartments, many of which are in central London high-rise schemes approaching completion, said researchers at Molior London, which monitors housing developments. 



Discounts to asking prices “from 10 to 15 per cent were becoming quite normal, while those between 20 and 30 per cent are rare but possible on selected schemes”, Molior said. 

An analyst in the sector, who asked not to be named, said bulk discount sales can create a “snowball effect”. “As more of this comes through, it becomes obvious to the rest of the market and triggers further sales among those who had been hoping to ride out [the tough market],” he said. 


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 Post subject: Re: London has popped.
PostPosted: Wed Jul 18, 2018 8:35 pm 
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Two more juicy points from that FT story:

Quote:
Some 2,008 new-build homes — or 39 per cent of sales in the quarter — were bought in bulk in the three months to June, while private sales declined by a third to 3,142. 


Quote:
Many bulk sales are driven by lenders seeking to protect loans to developers, he added.


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 Post subject: Re: London has popped.
PostPosted: Wed Jul 18, 2018 9:51 pm 
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Lefournier3 wrote:
Quote:
Many bulk sales are driven by lenders seeking to protect loans to developers, he added.

They actually admit that?! :shock:
Now where have we seen that lark before? :x

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 Post subject: Re: London has popped.
PostPosted: Thu Jul 19, 2018 9:08 am 
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ps200306 wrote:
Lefournier3 wrote:
Quote:
Many bulk sales are driven by lenders seeking to protect loans to developers, he added.

They actually admit that?! :shock:
Now where have we seen that lark before? :x



Have they started offering free cars yet ?


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 Post subject: Re: London has popped.
PostPosted: Sat Jul 21, 2018 11:04 am 
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Here's a new UK tool which claims to show if your postcode is "hot or not".

It compares the number of homes currently on the market in each postcode and estimates what percentage are under offer or sold subject to contract. Here's the current result for London:
https://www.theadvisory.co.uk/propcast/ ... utcode=N12

It doesn't tell us how long properties are on the market, a very useful metric in the U.S.

The city seems divided with most of the central/northern areas "cold" and most of the periphery "hot". Presumably, they can always adjust the standard so that half the areas are deemed "hot" but that simply shows the areas where sales are quicker than average. And even the "cold" areas have a claim - "market heating up" - without any apparent basis.

Still, a tool like this would be useful in Dublin, but I suppose this is just one more thing Eircode can't do for us.


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 Post subject: Re: London has popped.
PostPosted: Sat Jul 21, 2018 12:12 pm 
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Why would you expect Eircode to create such a property tracking tool?


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 Post subject: Re: London has popped.
PostPosted: Sat Jul 21, 2018 12:39 pm 
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I think what he means is, why doesn’t eircode provide small clusters of homes that can be used for statistical purposes. The answer is, because eircode is a delivery code, and such a cluster arrangement already exists. They’re called the CSO Small Areas and are widely used for statistical purposes like that. It’s just that people who don’t understand post codes like to shit on eircode for random things.

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Last edited by Mantissa on Sat Jul 21, 2018 2:14 pm, edited 1 time in total.

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 Post subject: Re: London has popped.
PostPosted: Sat Jul 21, 2018 12:42 pm 
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That makes sense :)


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 Post subject: Re: London has popped.
PostPosted: Sat Jul 21, 2018 2:09 pm 
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Also, for completeness, here are house prices by the large eircode areas (not that interesting but still...)
https://www.cso.ie/en/releasesandpublic ... byeircode/

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 Post subject: Re: London has popped.
PostPosted: Sun Jul 22, 2018 2:17 pm 
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Interesting, but Eircode areas are far larger than UK postcodes and I doubt anyone will make the effort to track how long properties remain on the market based on Eircode areas.

After our €38m investment, Eircode still uses the old Dublin postal areas, it divides Cork City into just two areas (North and South) and Galway city is lumped into a huge area stretching from north of Clifden to the Burren.

Is Kinsale really the most expensive area outside the Dublin area? At 329,999 Euros, its median price is significantly higher than Cork City, North or South.

On the other hand, if New Dehli goes, can London be far behind? :roll:

https://economictimes.indiatimes.com/we ... 216644.cms


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 Post subject: Re: London has popped.
PostPosted: Mon Jul 23, 2018 4:41 pm 
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I take it you didn't read my post. Here it is again with some emphasis.

Quote:
eircode is a delivery code, and such a cluster arrangement already exists. They’re called the CSO Small Areas and are widely used for statistical purposes like that. It’s just that people who don’t understand post codes like to shit on eircode for random things.

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