tinecu

" The 28% drop in supply and the 17% drop in stock levels for London are highly significant and point towards price recovery in the near future, despite lower demand. Brexit or no Brexit, London remains a highly desirable world city. Post-boom, prices have been correcting in the capital for 36 months and, should the mists of uncertainty clear, the stage looks set for this leading property market to return to the growth phase of the property cycle. "

https://www.home.co.uk/asking_price_index/HAPIndex_MAY19.pdf

Spot on BoldAsBrass, it will take quite some time for the new market reality to sink in. Londoners will 'get it' first...

Meanwhile... update on London rents...from here: https://www.home.co.uk/asking_price_index/HAPIndex_NOV18.pdf

"...rents are rising by 2.3% nationally and by a massive 5.8% in Greater London."

Shortage of available rental stock driving up London rents.

I get the impression that Gold is ready for a big move up...maybe in the run up to Xmas (classic pattern) or sooner.

 

=

New thread - have a look: http://www.greenenergyinvestors.com/index.php?showtopic=21237

London prices are heading south. No need to catch a falling knife.

Hmm. What happened to Gold and Silver recently? Are we no longer in the new upward chanel?

London looks cooked...

Panic Selling in London as Brexit Fears Push Down Prices

Now introducing the 40 year mortgage.

 

soon to be replaced by the 'Infinity' mortgage....it's so affordable* you just never stop paying (nor do your kids)!

*= affordable means all your spare cash so you remain permanently in debt.

Central London prices are sliding and look set to fall a long way. The rest (SE etc) will follow but it may take along time.....

On the other hand the North East has flat lined since the crisis.. i.e. no funny money recovery at all.

 

Now in 2016...

Nationwide London HP: £457,000

Gold in GBP: £757

 

Ratio: 603 ounces

Please can someone repost Cuthberts original image...?

We seem to back in an up-trend....

Silver leaping at last too...

Over here in Wales house prices seem to be gradually deflating.

 

Your observations are correct:

See http://www.home.co.uk/company/press/northern_powerhouse_faces_impossible_task_to_catch_up_with_the_south.htm

"Meanwhile, Scotland and Wales have suffered a similar fate as the North of England with asking prices down 4.56% in Wales and falling 5.72% in Scotland over the last seven years."

 

Hanging in there. Going through a lengthy court battle currently for proper access to my son after leaving my cheating partner.

 

But work and finance is all good. Have branched out into doing websites as well to fill the gaps.

Nice to hear from you Pix. Hope you get proper access...

Are you looking for freelance web work?

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=266

 

Will China Play The 'Gold Card'?

Interesting scenario.

1085 and falling.

I wonder where this will end....

looks like the crash in Central London is well underway

http://www.home.co.uk/guides/asking_prices_report.htm?location=belgravia&startmonth=01&startyear=2014&endmonth=01&endyear=2015

http://www.home.co.uk/guides/asking_prices_report.htm?county=londonc&startmonth=01&startyear=2014&endmonth=01&endyear=2015

 

At the SMART property conference this weekend, there were three outside-London

properties being promoted, and I spoke to the people promoting them, and they

quietly admitted that "London Luxury property prices have dropped."

One guy said: "Some of the properties above GBP 2mn are down 20%"

 

Let's shout it from the rooftops !

 

(Actually, some of the outside London properties at GBP 150 - 300 psf may make sense.

I think people will "play the arb", by selling down in London, and buying outside.

Especially the baby boomers.)

See: http://www.home.co.uk/guides/asking_prices_report.htm?location=belgravia&lastyear=1

http://www.home.co.uk/asking_price_index/HAPIndex_MAY14.pdf

London Property Bubble Confirmed.

• Home prices in Greater London leapt a further 2.4% over the last month, bringing the annual rise to an alarming 20.8%.
• Home Prices accelerate bringing the average annual appreciation for England and Wales to 9.2%.
• Typical time on market drops further to 90 days as the regional markets slowly heat up.
• Supply of properties for sale entering the market: Down 50% vs. April 2008.

http://www.zerohedge.com/news/2014-03-19/music-just-ended-wealthy-chinese-are-liquidating-offshore-luxury-homes-scramble-cash

"

Nothing new here but a nice summary of which countries are adding to reserves: http://247wallst.com/commodities-metals/2014/02/25/seven-nations-buying-the-worlds-gold/

Odd that China and India are not listed in what seems to be the top 7 buyers?

There's simply more and more money chasing fewer and fewer houses for sale with no 'real' economy to back up the whole show... hence it's just another Ponzi scheme. http://www.home.co.uk/asking_price_index/HAPIndex_JAN14.pdf

Predictions for 2014 from the Telegraph...

http://www.telegraph.co.uk/property/propertymarket/10539233/Property-market-whats-in-store-for-homeowners-in-2014.html

 

how can the tables be turned on these greedy speculators ?

Not sure about the 'greedy farmers' part?? They might own land but that doesn't make them a farmer!

I am thinking about ways about surviving, thriving and prospering in such an environment. There must be ways!

Move to an up and coming economy...

Check this from the CML...

http://www.home.co.uk/guides/news/story.htm?lending_for_house_purchases_bucks_seasonal_slowdown

"Supporting potential buyers to take out a 95 per cent mortgage will help the market return to a normalised state..."

OMG

http://www.home.co.uk/guides/news/story.htm?help_to_buy_scheme_set_to_push_up_prices_by_15_

Didn't von Mises have something to say about this?

ah yes...

"The boom can last only as long as the credit expansion progresses at an ever-accelerated pace. The boom comes to an end as soon as additional quantities of fiduciary media are no longer thrown upon the loan market. But it could not last forever even if inflation and credit expansion were to go on endlessly. It would then encounter the barriers which prevent the boundless expansion of circulation credit. It would lead to the crack-up boom and the breakdown of the whole monetary system."