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November 29 2021 8.27am

The Great London House-Price Softening

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View Jacey's Profile Jacey Flag 07 Apr 21 9.02pm Send a Private Message to Jacey Add Jacey as a friend

Virtually every property listed on Rightmove is either sold or under offer in this extraordinary market where buyer demand has reached an all time high.
I sold a property two weeks ago,the process took some four months,at a good price.No idea what the future has in store as regards prices.My agent is suggesting to keep away from the market for a year as he anticipates a significant downward correction in this timescale.
Any other predictions??

 

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 07 Apr 21 9.34pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

Originally posted by Jacey

Virtually every property listed on Rightmove is either sold or under offer in this extraordinary market where buyer demand has reached an all time high.
I sold a property two weeks ago,the process took some four months,at a good price.No idea what the future has in store as regards prices.My agent is suggesting to keep away from the market for a year as he anticipates a significant downward correction in this timescale.
Any other predictions??

i reckon either we will see

a.
hyper inflation, following all the central bankers printing money like toilet paper
or
b.
A 1989 style housing crash, lasting for years and knocking the stuffing out of prices.

Covid has made things very volatile. People working from home is now a reality. And that will really crucify housing in big cities. You know any large cities ?

The future will be 'work from your cottage in the cotswolds or the sticks' for 3 or 4 days a week. And report in to head office in Zone One, maybe once a week, or once a month. The Travelodges at Croydon/Gatwick will be booming.

Why bother owning a house in London if you are away from it 90% of the time ? Liquidise the asset and get yourself something nice, someplace with friendly neighbours, the space to have a garden & a dog & parking for 2 or 3 cars.

 


Eagle with SE19 altitude

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View cryrst's Profile cryrst Flag Chatham 07 Apr 21 9.37pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by PalazioVecchio

i reckon either we will see

a.
hyper inflation, following all the central bankers printing money like toilet paper
or
b.
A 1989 style housing crash, lasting for years and knocking the stuffing out of prices.

Covid has made things very volatile. People working from home is now a reality. And that will really crucify housing in big cities. You know any large cities ?

The future will be 'work from your cottage in the cotswolds or the sticks' for 3 or 4 days a week. And report in to head office in Zone One, maybe once a week, or once a month. The Travelodges at Croydon/Gatwick will be booming.

Why bother owning a house in London if you are away from it 90% of the time ? Liquidise the asset and get yourself something nice, someplace with friendly neighbours, the space to have a garden & a dog & parking for 2 or 3 cars.

A dog! nah 4 cars no dog.

 

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View Eaglecoops's Profile Eaglecoops Flag CR3 08 Apr 21 9.55am Send a Private Message to Eaglecoops Add Eaglecoops as a friend

Originally posted by PalazioVecchio

i reckon either we will see

a.
hyper inflation, following all the central bankers printing money like toilet paper
or
b.
A 1989 style housing crash, lasting for years and knocking the stuffing out of prices.

Covid has made things very volatile. People working from home is now a reality. And that will really crucify housing in big cities. You know any large cities ?

The future will be 'work from your cottage in the cotswolds or the sticks' for 3 or 4 days a week. And report in to head office in Zone One, maybe once a week, or once a month. The Travelodges at Croydon/Gatwick will be booming.

Why bother owning a house in London if you are away from it 90% of the time ? Liquidise the asset and get yourself something nice, someplace with friendly neighbours, the space to have a garden & a dog & parking for 2 or 3 cars.

Houses that were 400k-430k 18 months ago are now 500k-550k. Spoke with Fine and Country last week and he says it's his best year of sales ever and that he has virtually no stock. Even houses that have stuck are flying off the books.

There is something to say about getting out of London. My neice has been trying to sell her Wandsworth flat for months, but there are loads for sale and she only got one viewing. She has reluctantly rented it out instead. Compare that with anywhere south of Croydon where prices are shooting up and selling like hot cakes.

As for a crash, that will wholly depend on interest rates. If they suddenly shoot up to 5%-6% then expect to see a load of keys handed into building societies and banks and a rapid softening of prices.

 

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View SW17 Eagle's Profile SW17 Eagle Flag Tooting 08 Apr 21 10.41am Send a Private Message to SW17 Eagle Add SW17 Eagle as a friend

Originally posted by PalazioVecchio

i reckon either we will see

a.
hyper inflation, following all the central bankers printing money like toilet paper
or
b.
A 1989 style housing crash, lasting for years and knocking the stuffing out of prices.

Covid has made things very volatile. People working from home is now a reality. And that will really crucify housing in big cities. You know any large cities ?

The future will be 'work from your cottage in the cotswolds or the sticks' for 3 or 4 days a week. And report in to head office in Zone One, maybe once a week, or once a month. The Travelodges at Croydon/Gatwick will be booming.

Why bother owning a house in London if you are away from it 90% of the time ? Liquidise the asset and get yourself something nice, someplace with friendly neighbours, the space to have a garden & a dog & parking for 2 or 3 cars.

Because your asset will be worth more than an asset in a provincial town with poor transport links & dominated by car ownership

 

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View ASCPFC's Profile ASCPFC Flag Pro-Cathedral/caravan park 08 Apr 21 12.13pm Send a Private Message to ASCPFC Add ASCPFC as a friend

House prices up everywhere. Lack of building making a massive supply issue. More false house price inflation totally focking over our future generations. Renting needs the Scandinavian model, then buy to let could end, or certainly decrease. Sorry all you HOL landlords.

 


I used to put the manager's name in front of Red and Blue but got fed up with changing it. If someone cool becomes our manager then maybe..

Red and Blue Army!

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View croydon proud's Profile croydon proud Flag Any european country i fancy! 08 Apr 21 2.51pm Send a Private Message to croydon proud Add croydon proud as a friend

Lots of houses croydon way going for above the asking price, and mainly asians viewing, flats aren"t shifting at all, must be lockdown/garden fever.

 

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View cryrst's Profile cryrst Flag Chatham 08 Apr 21 4.39pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by croydon proud

Lots of houses croydon way going for above the asking price, and mainly asians viewing, flats aren"t shifting at all, must be lockdown/garden fever.

How do you know this CP?

 

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View croydon proud's Profile croydon proud Flag Any european country i fancy! 08 Apr 21 5.43pm Send a Private Message to croydon proud Add croydon proud as a friend

Originally posted by cryrst

How do you know this CP?

Know a couple of agents and family member just put house on market and it went next day above asking price.Had lots of viewings, all except one asian, good school catchment area to be fair and thats the draw i think.

 

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View cryrst's Profile cryrst Flag Chatham 08 Apr 21 5.52pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by croydon proud

Know a couple of agents and family member just put house on market and it went next day above asking price.Had lots of viewings, all except one asian, good school catchment area to be fair and thats the draw i think.

Gazumping eh. How much more in green backs.

 

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View cryrst's Profile cryrst Flag Chatham 08 Apr 21 5.52pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by croydon proud

Know a couple of agents and family member just put house on market and it went next day above asking price.Had lots of viewings, all except one asian, good school catchment area to be fair and thats the draw i think.

Gazumping eh. How much more in green backs

 

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View croydon proud's Profile croydon proud Flag Any european country i fancy! 08 Apr 21 5.57pm Send a Private Message to croydon proud Add croydon proud as a friend

Originally posted by cryrst

Gazumping eh. How much more in green backs

About 10k, and had another on the nose offer to, but they are paying above as well for next place to mate.

 

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