London house prices?
Discussion
nitrodave said:
to see 55% off they must have been wildly over priced in the first place
Well, thats the point, 55% off what? A randomly plucked 'original' marketing price? Sure, i can believe that.Someone is welcome to buy my house off me for £3m, if you want to bid 55% under, i may still give it some thought.
Been keeping an eye on prices of Victorian terraced properties in SW18, as I have one and I investing £150k extending and renovating it, so would like to see that investment at least pay itself back (although this is where I live so I am doing the work because I want to not to make money).
Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
Adam B said:
Been keeping an eye on prices of Victorian terraced properties in SW18, as I have one and I investing £150k extending and renovating it, so would like to see that investment at least pay itself back (although this is where I live so I am doing the work because I want to not to make money).
Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
I'm actually just in the process of buying in this very area, Plumstead to be precise. Prices do indeed appear to have plateaued for many reasons. Who knows what will happen in the next few years but on the plus side we have Crossrail which I expect to make some kind of a difference when it gets released in 2018.Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
Adam B said:
Been keeping an eye on prices of Victorian terraced properties in SW18, as I have one and I investing £150k extending and renovating it, so would like to see that investment at least pay itself back (although this is where I live so I am doing the work because I want to not to make money).
Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
I have a house on the market in SW18. Needs decorating and a side return extension thus its 'only' just over a million. A bargain when the other terraced houses in the street are priced at 1.25 million. Prices are up about 5-10% over past 12 months, but I would say the last 6 months have been flat - not necessarily Brexit but just general plateauing after recent rises and general economic uncertainty.
I think people who bought a lot of the hyped, high-priced, off-plan developments in last 2 years (eg. Vauxhall) might get their fingers burned soon, I hear anecdotally that Chinese buyers are slowing due to Brexit - no bad thing IMHO
gibbon said:
I get your point, the issue is, we've witnessed a global shift in paradigms of whats a decent yield. 4% for a relatively safe long term asset is not a bad yield anymore. Try getting that yield from other traditional AAA financial products.
A live a street off the square, but theres quite a few AMG mercs, along with the collection of defenders, so hard to tell if i know her, only one aston though.
"Other traditional AAA financial products" ... since when was a BTL flat in London remotely comparable to a AAA asset?A live a street off the square, but theres quite a few AMG mercs, along with the collection of defenders, so hard to tell if i know her, only one aston though.
ATG said:
gibbon said:
I get your point, the issue is, we've witnessed a global shift in paradigms of whats a decent yield. 4% for a relatively safe long term asset is not a bad yield anymore. Try getting that yield from other traditional AAA financial products.
A live a street off the square, but theres quite a few AMG mercs, along with the collection of defenders, so hard to tell if i know her, only one aston though.
"Other traditional AAA financial products" ... since when was a BTL flat in London remotely comparable to a AAA asset?A live a street off the square, but theres quite a few AMG mercs, along with the collection of defenders, so hard to tell if i know her, only one aston though.
z4RRSchris said:
housen said:
not trying to call u out on this but I have a se1 investment
could u post a link to a block with these discounts ?
thx sir
it was a single unit neo. could u post a link to a block with these discounts ?
thx sir
And presumably Joe Public neither knew such a deal was on, and Joe Public probably won't, as the developer may "gift" a deposit of some sort so as to hide any discount from the land reg?
As a very broad generalisation, is your experience (noting your comments above) that in most central ish developments, the slowdown in buying means Joe Public would expect 20-30% below the marketed price for something either off plan or complete & vacant?
croyde said:
Very nice, I live 6 or 7 streets north of you and drink in various pubs down Garratt Lane, shout if you fancy a beer some time Edited by Adam B on Wednesday 28th September 10:01
Burwood said:
Correct. One could always buy PSN stock which yields 4% and looks relatively cheap. Well, it was when the sheep dropped it post Brexit to under £12. Only a 50% gain in 2 weeks. This thread has got so warped. It is about London mainstream property. Not 6000 soft penthouses in SE1 which are just a bit illiquid. And to suggest a hit to them will trickle down is way off the mark. I gauge my opinions on discussions with more than one friend who are partners at large law firms. Firms that do hundreds of conveyancing deals and it's still going up in London. In any event, one swallow does not make a summer
A fair point. Though i did say earlier in the same post 'a relatively safe long term asset'.I think you would agree with my point about the change in perceived acceptable yields though no?
Croutons said:
Was that to close out the penthouses?
And presumably Joe Public neither knew such a deal was on, and Joe Public probably won't, as the developer may "gift" a deposit of some sort so as to hide any discount from the land reg?
As a very broad generalisation, is your experience (noting your comments above) that in most central ish developments, the slowdown in buying means Joe Public would expect 20-30% below the marketed price for something either off plan or complete & vacant?
Last penthouse sale, i would think it will be available on the land reg when it completes. Neo sold the whole of block D to themselves i dont think they are fussed who knows what. And presumably Joe Public neither knew such a deal was on, and Joe Public probably won't, as the developer may "gift" a deposit of some sort so as to hide any discount from the land reg?
As a very broad generalisation, is your experience (noting your comments above) that in most central ish developments, the slowdown in buying means Joe Public would expect 20-30% below the marketed price for something either off plan or complete & vacant?
Joe Public can expect 10-35% (dependant on scheme) in a high proportion of completed new build, and off plan, but not first launch.
C
gibbon said:
Burwood said:
Correct. One could always buy PSN stock which yields 4% and looks relatively cheap. Well, it was when the sheep dropped it post Brexit to under £12. Only a 50% gain in 2 weeks. This thread has got so warped. It is about London mainstream property. Not 6000 soft penthouses in SE1 which are just a bit illiquid. And to suggest a hit to them will trickle down is way off the mark. I gauge my opinions on discussions with more than one friend who are partners at large law firms. Firms that do hundreds of conveyancing deals and it's still going up in London. In any event, one swallow does not make a summer
A fair point. Though i did say earlier in the same post 'a relatively safe long term asset'.I think you would agree with my point about the change in perceived acceptable yields though no?
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