London house prices
- Thread starter Robder
- Start date
Blimey that's a grown-up thought for a Monday morning I completely agree, I don't know how first time buyers can afford to get on the property ladder in London, people have been saying for ages that it can't carry on at this rate but it is - Tom says that he can't take properties on quick enough cos everything is selling so quickly, normally at asking price or above asking price.
Morbyd
Moderator
Markets like this always pose a dilemma: Buy now and place your bets on continued appreciation, or hope that it's a bubble and the market will overheat and then fall.
In the States, for example, the bubble has burst now and it's become a buyers market again. In Moscow, on the other hand, the market continues to fly with appreciation of 30-40% per year (!!!).
In the States, for example, the bubble has burst now and it's become a buyers market again. In Moscow, on the other hand, the market continues to fly with appreciation of 30-40% per year (!!!).
I don't think it's a bubble, the London housing market has been going up at these rates for the last 10 or so years, people keep saying that it must crash at some point but there's no sign of it happening
Morbyd
Moderator
True (from what I've read). Moreover, you've got an influx of foreign buyers snapping up properties and providing continued capital inflow to the market. I was only half-kidding earlier when I mentioned the Russians, but there are others as well (before them, you had the Arabs, Japanese, etc)I don't think it's a bubble, the London housing market has been going up at these rates for the last 10 or so years, people keep saying that it must crash at some point but there's no sign of it happening
I don't think it's a bubble, the London housing market has been going up at these rates for the last 10 or so years, people keep saying that it must crash at some point but there's no sign of it happening
Spain is starting to live the same as the USA: the prices are going down, there's flats on sale for a year and there's too much offer. We don't expect a crisis but we do expect prices to go down and reach a normal point.
As long as people keep buying then Tom keeps selling and it keeps me in new shoes and Ibiza holidays
if you can't afford london, just buy something elsewhere in the country and rent it out, it doesn't matter if you're not making income from it as you'll have someone else paying the mortgage and at the end of 25 years you'll be rich to the sum of whatever the value of the house is.
also about the bubble thing, prices may slow down or even fall at some point but investing in bricks and mortar is about as safe as it gets when considered over a standard 25 year mortgage length.
also about the bubble thing, prices may slow down or even fall at some point but investing in bricks and mortar is about as safe as it gets when considered over a standard 25 year mortgage length.
I think it's simply supply and demand.
Too much demand and not enough supply.
I read an interesting article on Londoners who couldn't afford to buy in London, so have bougth abroad ie: Turkey / bulgaria, where you can get a decent property for £40/50k. The plan being to sell the property in time and use the increased equity from these foreign property hotspots to use as capital for a purchase in London.
Not foolproof but it's quite a creative way to do it.
Too much demand and not enough supply.
I read an interesting article on Londoners who couldn't afford to buy in London, so have bougth abroad ie: Turkey / bulgaria, where you can get a decent property for £40/50k. The plan being to sell the property in time and use the increased equity from these foreign property hotspots to use as capital for a purchase in London.
Not foolproof but it's quite a creative way to do it.
Also, lucky Londeners will have to contribute about £100 each person to pay for the Olympics! Fantastic
In East London so it's money well spent from an investment point of view. Do you remember how the world's perception changed of Barcelona after the 1992 olympics?
Madrid used to be the capital of cool but now it's paled into insignificance.
That is exactly what I would do when I come back to the UK....I will never get on the property ladder in London...especially as I hope to go back and be a student or on a poor trainee paramedic wage.....
If I ever sell here that is.....
....have my 96th or something viewing today! That is exactly what I would do when I come back to the UK....I will never get on the property ladder in London...especially as I hope to go back and be a student or on a poor trainee paramedic wage.....
If I ever sell here that is.....
everything still up in the air then!
everything still up in the air then!
Well, my house is up for sale and I hope to do Uni this September but its just the waiting that does my head in....the more time I hang around here I get less motivated and think..."ooo, I´ll just stay being a bum in the sun!".....its all just a funking kerfuffle to be honest!
aww pobrecita!
chin up!!agentundercover
Active Member
it is a different world in that flt. We went and scoped out rafa bentitez new house (weird i know but we were in the area ok! ) at the weekend. Its so big you could fit the mary celeste in the garage, most expensive sold in the area ever - and its a nice neck of the woods for the nw. But 4.2mil which i guess wont buy a pot to pi$$ in mayfair...
) at the weekend. Its so big you could fit the mary celeste in the garage, most expensive sold in the area ever - and its a nice neck of the woods for the nw. But 4.2mil which i guess wont buy a pot to pi$$ in mayfair...The way a friend of mine managed to buy in London was she loaned the deposit of her folks, bought a run down 1 bed flat, did it up into a 2 bed flat (by making the kitchen/living room one room) she put all this on her credit cards, she then sold it on for a healthy profit, and had enough money yo pay off her parents and cards and have enough left over for her next flats deposit.
It was hard work though, she had no kitchen for 2 months and had to wee in a bucket on the odd day! My point is though, there is always a way.
It was hard work though, she had no kitchen for 2 months and had to wee in a bucket on the odd day!
My point is though, there is always a way.