The Great London House-Price Softening

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The Great London House-Price Softening

croydon proud Any european country i fancy! 11 Apr 21 5.52pm
Originally posted by AERO Yes thats the Master plan probably not so far North but Croydon Flats will certainly be dropping in value with all the new builds going up in and around Central Croydon. Good idea, the hull thing is just my back up plan if things continue to go south over here, pardon the pun!
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croydon proud

Any european country i fancy! 11 Apr 21 5.52pm

Originally posted by AERO

Yes thats the Master plan probably not so far North but Croydon Flats will certainly be dropping in value with all the new builds going up in and around Central Croydon.

Good idea, the hull thing is just my back up plan if things continue to go south over here, pardon the pun!

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SW19 CPFC Addiscombe West 11 Apr 21 9.41pm
Originally posted by Tim Gypsy Hill '64 Nobody is in trouble if they own property. Whether it is a flat, a garage, a shop,...(notwithstanding derelict properties etc.) it matters not. Property rarely loses value, and if it does, it recovers in a short amount of time. There has been slumps in housing prices in the past, and the only people who suffered were those that panicked and estate agents. But I have no sympathy for them anyway. As soon as you buy a property with a mortgage, the only change in the monthly cost is due to interest rate change. That can go up and that can go down. Whereas rent goes up with inflation. Every time inflation increases, rent increases. It NEVER goes down. If somebody can afford to pay a mortgage, and has a deposit, they should buy a property if that is what they wish to do. I am of the opinion that leejaneagles got talked out of buying his 'ideal home' a year ago by negative opinions like yours. He would be enjoying his independence now, and his mortgage, which he could afford at the time, would still be the same. He would have lost nothing. Even if the value of his flat had decreased, he would still have a flat which he could afford. And was where he wanted to live. All assuming he didn't lose his job. Which can happen regardless of pandemics and property price fluctuations. But if you never take that risk, you will never leave home. I actually stated the best time to buy would have been about a year ago, when the first lockdown relaxed If someone is looking to buy and hold for 10 years, sure, your statement is more likely to hold water But you can time the market, and it is beneficial even if you’re looking to hold rather than sell in the short to medium term - buying or selling at the wrong time regardless of scenario can and will in most cases cost you or lose you money, and you don’t always get it back. Especially if you’re a first time buyer in boom areas - now is not the time to purchase if you’re being sensible. Wait for the stamp duty holiday to end and see how things play out. I agree on risk - but there a higher and lower levels of risk. It’s not a simplistic, binary decision And rents DO and HAVE gone down in some areas, both over the last 12 months and historically. Some by the small matter of 30% in London. But your general point re. Rent waste vs mortgage return is valid, however this doesn’t mean mortgage is always better than renting at any given moment in time. Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 11 Apr 21 9.41pm

Originally posted by Tim Gypsy Hill '64

Nobody is in trouble if they own property. Whether it is a flat, a garage, a shop,...(notwithstanding derelict properties etc.) it matters not. Property rarely loses value, and if it does, it recovers in a short amount of time. There has been slumps in housing prices in the past, and the only people who suffered were those that panicked and estate agents. But I have no sympathy for them anyway. As soon as you buy a property with a mortgage, the only change in the monthly cost is due to interest rate change. That can go up and that can go down. Whereas rent goes up with inflation. Every time inflation increases, rent increases. It NEVER goes down. If somebody can afford to pay a mortgage, and has a deposit, they should buy a property if that is what they wish to do.

I am of the opinion that leejaneagles got talked out of buying his 'ideal home' a year ago by negative opinions like yours. He would be enjoying his independence now, and his mortgage, which he could afford at the time, would still be the same. He would have lost nothing. Even if the value of his flat had decreased, he would still have a flat which he could afford. And was where he wanted to live.

All assuming he didn't lose his job. Which can happen regardless of pandemics and property price fluctuations. But if you never take that risk, you will never leave home.

I actually stated the best time to buy would have been about a year ago, when the first lockdown relaxed

If someone is looking to buy and hold for 10 years, sure, your statement is more likely to hold water

But you can time the market, and it is beneficial even if you’re looking to hold rather than sell in the short to medium term - buying or selling at the wrong time regardless of scenario can and will in most cases cost you or lose you money, and you don’t always get it back.

Especially if you’re a first time buyer in boom areas - now is not the time to purchase if you’re being sensible. Wait for the stamp duty holiday to end and see how things play out.

I agree on risk - but there a higher and lower levels of risk. It’s not a simplistic, binary decision

And rents DO and HAVE gone down in some areas, both over the last 12 months and historically. Some by the small matter of 30% in London. But your general point re. Rent waste vs mortgage return is valid, however this doesn’t mean mortgage is always better than renting at any given moment in time.

Did you know? 98.0000001% of people are morons.

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PalazioVecchio south pole 14 Apr 21 11.50pm
booming prices nationally. Mods maybe can you change thread title to ''London House Prices'' [Link] Kayla did Anfield & Old Trafford
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PalazioVecchio

south pole 14 Apr 21 11.50pm

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booming prices nationally.

Mods maybe can you change thread title to ''London House Prices''

[Link]

Kayla did Anfield & Old Trafford

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Badger11 Beckenham 12 May 21 3.05pm
Rents seem to be going down which if true is good news. [Link] One more point
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Badger11

Beckenham 12 May 21 3.05pm

Rents seem to be going down which if true is good news.

[Link]

One more point

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Tom-the-eagle Croydon 12 May 21 4.19pm
Originally posted by Badger11 Rents seem to be going down which if true is good news. [Link] Only in London. Rents up pretty much everywhere else. Couple of months ago I rented out a flat in London for £1495 which had previously been rented for three years at £1650 Will come again though although be interesting so see what permanent effect working from home has "It feels much better than it ever did, much more sensitive." John Wayne Bobbit
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Tom-the-eagle

Croydon 12 May 21 4.19pm

Originally posted by Badger11

Rents seem to be going down which if true is good news.

[Link]

Only in London.

Rents up pretty much everywhere else.

Couple of months ago I rented out a flat in London for £1495 which had previously been rented for three years at £1650

Will come again though although be interesting so see what permanent effect working from home has

"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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Rudi Hedman Caterham 12 May 21 7.54pm
Originally posted by Badger11 Rents seem to be going down which if true is good news. [Link] What’s it like these days living in a flat in Kings across for £2,800 a month rent? COYP
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Rudi Hedman

Caterham 12 May 21 7.54pm

Originally posted by Badger11

Rents seem to be going down which if true is good news.

[Link]

What’s it like these days living in a flat in Kings across for £2,800 a month rent?

COYP

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Badger11 Beckenham 12 May 21 8.01pm
Originally posted by Tom-the-eagle Only in London. Rents up pretty much everywhere else. Couple of months ago I rented out a flat in London for £1495 which had previously been rented for three years at £1650 Will come again though although be interesting so see what permanent effect working from home has That's what I was thinking I expect an awful lot of commercial property will be converted into apartments? One more point
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Badger11

Beckenham 12 May 21 8.01pm

Originally posted by Tom-the-eagle

Only in London.

Rents up pretty much everywhere else.

Couple of months ago I rented out a flat in London for £1495 which had previously been rented for three years at £1650

Will come again though although be interesting so see what permanent effect working from home has

That's what I was thinking I expect an awful lot of commercial property will be converted into apartments?

One more point

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