The Great London House-Price Softening
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 PalazioVecchio  south pole 12 Mar 18 10.01am |
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An interesting article here. When the Bank of England puts up Interest Rates what will the effect be ? Are we looking at a mild softening or are we looking at the beginnings of a 1989-style property crash ? Who are the winners ?
Eze Peasy at Anfield.... |
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Lyons550  Shirley 12 Mar 18 10.58am |
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The markets been softening for about a year now and will remain flat until after Brexit. We'll likely continue to see a dip/fall for 24months until confidence post brexit starts to gain momentumn again. I'd expect to see a 10-15% slump on current prices. Also many more people are moving out of the city...as such the outlying areas are likely to remain steady and creep up slightly.
The Voice of Reason In An Otherwise Mediocre World |
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| Rudi Hedman Caterham 12 Mar 18 11.17am |
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Originally posted by Lyons550
The markets been softening for about a year now and will remain flat until after Brexit. We'll likely continue to see a dip/fall for 24months until confidence post brexit starts to gain momentumn again. I'd expect to see a 10-15% slump on current prices. Also many more people are moving out of the city...as such the outlying areas are likely to remain steady and creep up slightly. Many are moving out? Any main reasons or factors? Who's moving in? Just professionals from elsewhere in Britain and the world or nobody and left empty as investments? I do wonder how the trend of moving in will reverse but I suppose London is becoming so gentrified and clean it'll just be different people or at different stages of life. It does make me wonder why some want to live near cafes, bars and restaurants when some have no disposable income to spend.
COYP |
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| DanH SW2 12 Mar 18 12.04pm |
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Originally posted by Rudi Hedman
Many are moving out? Any main reasons or factors? Who's moving in? Just professionals from elsewhere in Britain and the world or nobody and left empty as investments? I do wonder how the trend of moving in will reverse but I suppose London is becoming so gentrified and clean it'll just be different people or at different stages of life. It does make me wonder why some want to live near cafes, bars and restaurants when some have no disposable income to spend. I've recently moved out of London and quite a few people I know my age have too. I'm early 30s and the main reason was because of house prices. We also moved out to be closer to my fiancée's family but house prices were the main driver.
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| Matov 12 Mar 18 1.08pm |
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I would label what is happening as more an over-due price correction than crash. All the basics are still pointing to there being more demand than supply and with interest rates so low, investing spare cash in bricks and mortar still makes a lot of sense. And there still remains the strong desire for people to get on the property ladder. Its part of our national DNA, for right or wrong.
"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." - 1984 - George Orwell. |
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| Midlands Eagle 12 Mar 18 1.45pm |
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Originally posted by Rudi Hedman
It does make me wonder why some want to live near cafes, bars and restaurants when some have no disposable income to spend. In 1984 I relocated from Haywards Heath to Newcastle Upon Tyne and recall being told that the uptake of new technology for playing music (the CD player) was far higher in the North East as they had so much more disposable income than impoverished Southerners with their hefty mortgage repayments and season ticket prices. The Bentley dealer in Durham also sold more Bentleys than any other dealership in the UK for similar reasons. Things have obviously changed a great deal since then with the invention of the internet as loads of people now earn their living from the internet and have no reason to be physically tied to one place for work reasons
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| dreamwaverider London 12 Mar 18 1.57pm |
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I sold the last of my bricks and mortar last month as I am expecting a serious slump.
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| kenners46 sydenham village 12 Mar 18 1.58pm |
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Give it another 5 or so years and ill be looking at moving out of London, i dont think the prices will drop too much here in Sydenham with the introduction of the Overground a couple of years back.
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| Rudi Hedman Caterham 12 Mar 18 1.59pm |
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Originally posted by Midlands Eagle
In 1984 I relocated from Haywards Heath to Newcastle Upon Tyne and recall being told that the uptake of new technology for playing music (the CD player) was far higher in the North East as they had so much more disposable income than impoverished Southerners with their hefty mortgage repayments and season ticket prices. The Bentley dealer in Durham also sold more Bentleys than any other dealership in the UK for similar reasons. Things have obviously changed a great deal since then with the invention of the internet as loads of people now earn their living from the internet and have no reason to be physically tied to one place for work reasons A property portfolio can multiply up north quicker and in most other businesses there was probably less competition to knock anyone successful with capital to play with off their perch, especially in the '80s. Old money isn't the holiday it once was.
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| Rudi Hedman Caterham 12 Mar 18 2.00pm |
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Where's the favoured distance or general area people are thinking of moving from south London to?
COYP |
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| kenners46 sydenham village 12 Mar 18 2.11pm |
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Originally posted by Rudi Hedman
Where's the favoured distance or general area people are thinking of moving from south London to?
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croydon proud  Any european country i fancy! 12 Mar 18 6.18pm |
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Originally posted by dreamwaverider
I sold the last of my bricks and mortar last month as I am expecting a serious slump. Bleak indeed!
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