Property Meltdown

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Re: Property Meltdown

Postby Pixel8r » Sat Jan 27, 2018 3:23 pm » Safari 11.0.2 Safari 11.0.2  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

Ghost towers: half of new-build luxury London flats fail to sell

Developers have 420 towers in pipeline despite up to 15,000 high-end flats still on the market

More than half of the 1,900 ultra-luxury apartments built in London last year failed to sell, raising fears that the capital will be left with dozens of “posh ghost towers”.

The swanky flats, complete with private gyms, swimming pools and cinema rooms, are lying empty as hundreds of thousands of would-be first-time buyers struggle to find an affordable home.

The total number of unsold luxury new-build homes, which are rarely advertised at less than £1m, has now hit a record high of 3,000 units, as the rich overseas investors they were built for turn their backs on the UK due to Brexit uncertainty and the hike in stamp duty on second homes.

Builders started work last year on 1,900 apartments priced at more than £1,500 per sq ft, but only 900 have sold, according to property data experts Molior London. A typical high-end three-bedroom apartment consists of around 2,000 sq ft, which works out at a sale price of £3m.

There are an extra 14,000 unsold apartments on the market for between £1,000-£1,500 per sq ft. The average price per sq ft across the UK is £211...
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Re: Property Meltdown

Postby Pixel8r » Mon Mar 12, 2018 9:38 am » Safari 11.0.2 Safari 11.0.2  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

London property prices fall as much as 15% as Brexit effect deepens

House prices in parts of London that were once at the epicentre of the UK property boom have fallen as much as 15% over the past year in fresh evidence of the impact of the EU referendum.

Figures from Your Move, one of the UK’s biggest estate agency chains, reveal that the average home in Wandsworth – which includes much of Clapham, Balham and Putney – fell by more than £100,000 in value over the last 12 months...
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Re: Property Meltdown

Postby Laura » Tue Mar 13, 2018 9:22 am » Google Chrome 64.0.328 Google Chrome 64.0.328  Android Android  Screen Resolution: 1024 x 600 1024 x 600

'Your Move' being sales-dependent for income, trying to jolt their clients to wake up.
Some of them will have the incurable strain of Sibley's Disease.

I'll skip the popcorn for 'fly on the wall' hot-spot access

.....
Spotted on HPC:-
12 hours ago, thewig said:
My mother in law loves nothing more than to surf rm. has lived in the same house for 40 years.

Same with my mum. When she discovered you could look at ACTUAL PHOTOS of the inside of OTHER PEOPLE'S HOUSES I thought her brain would explode with the sheer ecstasy of it all. She used to have to look at people's photos of stuff they were selling on EBAY to criticise their curtains but now she can look at photos where the curtains are actually the thing being photographed. It's changed her life
.

http://www.housepricecrash.co.uk/forum/ ... 1103351910
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Re: Property Meltdown

Postby Pixel8r » Mon Apr 30, 2018 7:58 am » Safari 11.1 Safari 11.1  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

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Re: Property Meltdown

Postby Pixel8r » Mon Jul 02, 2018 8:06 am » Safari 11.1 Safari 11.1  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

The housing crash that was postponed in 2008 is about to come back bigger and much worse than before. As rates increase the joys of leverage is going to very much understood. Those that have been living the high life, drinking the government cool aid, think that there is no way that interest rates can go up that the government won't allow it because it would put too many out of their houses. The reality of the situation is that the governments do not control interest rates, the bankers do along with the creation of money.

Banks are technically bankrupt and have been since 2007, they have been kept alive by the central banks printing loads of money and putting rates down to zero. Now comes the pain.

7,000 estate agents at risk of going to the wall, says study

More than 150 estate agency firms went insolvent last year and as many as 7,000 are at risk as high street operators face the triple whammy of online competition, a sagging property market and cuts to letting fees.

A study by accountants Moore Stephens found that 153 estate agency firms went insolvent in the year to May 2018, a small increase on the 148 the year before.

But it found that more than 7,000 estate agents “currently show signs of financial distress”...
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Re: Property Meltdown

Postby Pixel8r » Tue Aug 14, 2018 8:43 am » Safari 11.1.2 Safari 11.1.2  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

Report Signals UK Housing Bubble Bust: "Home Values Fell For The Fifth Straight Month"

According to the latest numbers from Acadata Ltd., a housing bubble in the UK is steadily deflating due to the economic uncertainties surrounding Brexit, along with tighter monetary conditions via the Bank of England, which could alleviate lingering affordability issues.

British home values fell for the fifth straight month in July, the longest stretch of declines since the global financial crisis, reported Bloomberg. The ongoing slide in prices, however, has a silver lining to the millennials who have been priced out: homes are becoming more affordable...


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Re: Property Meltdown

Postby Pixel8r » Sat Sep 15, 2018 5:00 pm » Safari Mobile 11.0 Safari Mobile 11.0  iPhone iPhone  Screen Resolution: 375 x 667 375 x 667

This although about the US property market is relevant to here I think

Watch on youtube.com
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Re: Property Meltdown

Postby wee Jinky » Mon Oct 15, 2018 10:56 pm » Google Chrome 49.0.262 Google Chrome 49.0.262  Windows Vista Windows Vista  Screen Resolution: 1366 x 768 1366 x 768

I think my search for the perfect location is over.
The island of Madeira has won me over
An almost perfect climate, low crime rate, friendly natives, reasonable house prices, self sufficiency potential ( food,solar power,fishing)
In a shtf scenario this place will be far from the madding crowd.
ideally Curral das Freiras ( valley of the nuns) would be my choice

https://www.idealista.pt/en/comprar-cas ... apa-google
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Re: Property Meltdown

Postby markinspain » Tue Oct 16, 2018 7:20 am » Firefox 62.0 Firefox 62.0  Windows NT Windows NT  Screen Resolution: 1920 x 1080 1920 x 1080

wee Jinky » Mon Oct 15, 2018 10:56 pm wrote:I think my search for the perfect location is over.
The island of Madeira has won me over
An almost perfect climate, low crime rate, friendly natives, reasonable house prices, self sufficiency potential ( food,solar power,fishing)
In a shtf scenario this place will be far from the madding crowd.
ideally Curral das Freiras ( valley of the nuns) would be my choice

https://www.idealista.pt/en/comprar-cas ... apa-google


Be careful...

https://www.madeiraislandnews.com/2017/08/serious-crime-increase.html
People say, "Don't you miss it, Mark?" I say, "What, England? Nah. f**king place. It's a dump. Don't make me laugh. Grey, grimy, sooty. What a sh*t hole. What a toilet. Every **** with a long face shuffling about, moaning, all worried. No thanks, not for me." They say, "What's it like, then, Spain?" And I'll say, "It's hot. Hot. Oh, it's f**king hot. Too hot? Not for me, I love it."
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Re: Property Meltdown

Postby wee Jinky » Tue Oct 16, 2018 8:55 am » Google Chrome 49.0.262 Google Chrome 49.0.262  Windows Vista Windows Vista  Screen Resolution: 1366 x 768 1366 x 768

well, almost perfect.
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Re: Property Meltdown

Postby Pixel8r » Thu Oct 18, 2018 3:25 pm » Safari 12.0 Safari 12.0  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

d2thdr » Wed Oct 03, 2018 1:35 pm wrote:
wee Jinky » Fri Aug 24, 2018 9:21 pm wrote:My friend, who is a doctor and his wife who is also a doctor have just invested in PMs for the first time , I spent a while discussing matters and they got the logic of it all. As for house prices I've been checking in the UK, Ireland, France, Holland and Madeira . There's no way I'm returning to the UK without a 50% reduction but I believe that's possible. Just the weather the midges and the ned culture that will put me off.


I doubt house prices will correct 50%. Most likely sterling crashes (and gold goes up substantially) making house prices nominally higher than what they are today.

Replying to this message here as it seems more relevant.

I am not so sure that house prices won't go down nominally. As interest rates increase we will see house prices come down. Are interest rates going to increase? The fed is on the path to keep raising rates and that will knock on around the world. Rates have been ridiculously low for decades now, much lower than they have ever been throughout history. We are not in some new normal where money is free to borrow and everyone can just keep borrowing ever-increasing amounts of it. So rates will go up and house prices will come down. The only reason house prices have been going up to such extremes is that money has been far too cheap for far too long. You only have to look at the wage to house price ratio to see the extreme that house prices have been pushed.

Not sure that sterling will crash much more as it already lost a load against other fiat currencies. What would it crash against, the euro, the dollar? They are all been/being printed into oblivion so valuing one against the other becomes difficult.

I think this is all part of the cabals plan to enslave the world and make them into debt slaves, feeding all their money to them. I also think that this plan is coming unravelled and is soon to be history. Hold gold and silver and wait for this to play out is my choice.
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Re: Property Meltdown

Postby Pixel8r » Sun Nov 11, 2018 9:57 am » Safari 12.0 Safari 12.0  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

Watch on youtube.com
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Re: Property Meltdown

Postby Laura » Thu Jan 24, 2019 7:07 am » Google Chrome 71.0.357 Google Chrome 71.0.357  Android Android  Screen Resolution: 1024 x 600 1024 x 600

A property fund's depressing report.
I'm in shock. Would you ever?!!!

https://wolfstreet.com/2019/01/23/what- ... al-london/

“With such negative news predominating, it is perhaps unsurprising that the number of transactions continues at an all-time low. In the most recent data available from HM Land Registry, year to date sales totaled just 3,671 across the whole of PCL – just 71 per week – and fewer than were seen at the depth of the Global Financial Crisis. While this dynamic is sometimes indicative of a lack of vendors, in the current circumstance, it is largely due to a lack of buyers.”
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Re: Property Meltdown

Postby Laura » Mon Jun 03, 2019 10:25 pm » Google Chrome 71.0.357 Google Chrome 71.0.357  Android Android  Screen Resolution: 1024 x 600 1024 x 600

LUXURY apartments go for knockdown prices after onslaught of crime, drugs and vice.

IT was a luxury £32million housing development aimed at well-heeled movers and shakers.

Buyers were left with little change from £200,000 when they snapped up the two-bed flats in the apartment block while penthouses cost an eye-watering £320,000.

Kingston Quay, in Tradeston, Glasgow, was the ultimate city centre address for those lucky enough to afford the high-end price tag.

But now – just a decade after construction was completed – horrified residents are desperate to offload what have become the most toxic properties in Scotland.

A Sunday Mail investigation has revealed how the 372-apartment site has turned from a dream postcode to a crime-ridden nightmare.

House prices have plummeted, trapping homeowners in a negative equity nightmare, while the building is now without insurance after they rowed with the factor.

We can reveal that three brothels operate within the development and a “party service” for transsexuals is also based there.
https://www.dailyrecord.co.uk/news/scot ... er-3632693
Read on. It gets worse.

The rejuvenation of Glasgow south-side dereliction would only appeal to those that know no better. The prices originally asked were bonkers IMHO, but I guess because it's a major developer there is an assumption that the pricing was OK?

The article is five years old, but current pricing indicates not much has changed.
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Re: Property Meltdown

Postby Laura » Mon Jun 03, 2019 10:43 pm » Google Chrome 71.0.357 Google Chrome 71.0.357  Android Android  Screen Resolution: 1024 x 600 1024 x 600

At last. Found it. I remember hearing this story, but didn't know it was these same flats. From 2008:-
Free legal fees too.
I heard the guy caught a plane back home to the far East and was never heard of again

https://www.eveningtimes.co.uk/news/127 ... landlords/

A well-placed property source has told the Evening Times one investor bought 40 flats at Kingston Quay, pocketing up to £200,000 - £5000 cashback from every property - from builders Barratt
.
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Re: Property Meltdown

Postby markinspain » Tue Jun 04, 2019 7:12 am » Firefox 67.0 64 bits Firefox 67.0 64 bits  Windows NT 64 bits Windows NT 64 bits  Screen Resolution: 1920 x 1080 1920 x 1080

Laura » Mon Jun 03, 2019 10:43 pm wrote:At last. Found it. I remember hearing this story, but didn't know it was these same flats. From 2008:-
Free legal fees too.
I heard the guy caught a plane back home to the far East and was never heard of again

https://www.eveningtimes.co.uk/news/127 ... landlords/

A well-placed property source has told the Evening Times one investor bought 40 flats at Kingston Quay, pocketing up to £200,000 - £5000 cashback from every property - from builders Barratt
.


£200.000 for a flat in Glasgow - seriously?
People say, "Don't you miss it, Mark?" I say, "What, England? Nah. f**king place. It's a dump. Don't make me laugh. Grey, grimy, sooty. What a sh*t hole. What a toilet. Every **** with a long face shuffling about, moaning, all worried. No thanks, not for me." They say, "What's it like, then, Spain?" And I'll say, "It's hot. Hot. Oh, it's f**king hot. Too hot? Not for me, I love it."
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Re: Property Meltdown

Postby Laura » Tue Jun 04, 2019 9:58 am » Google Chrome 71.0.357 Google Chrome 71.0.357  Android Android  Screen Resolution: 1024 x 600 1024 x 600

£200.000 for a flat in Glasgow - seriously?


Yeah, that cheap Mark :D
Best quality of life in Britain; once you know where it's at.

https://www.rightmove.co.uk/property-fo ... 36480.html
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Re: Property Meltdown

Postby markinspain » Tue Jun 04, 2019 11:56 am » Firefox 67.0 64 bits Firefox 67.0 64 bits  Windows NT 64 bits Windows NT 64 bits  Screen Resolution: 1920 x 1080 1920 x 1080

Laura » Tue Jun 04, 2019 9:58 am wrote:
£200.000 for a flat in Glasgow - seriously?


Yeah, that cheap Mark :D
Best quality of life in Britain; once you know where it's at.

https://www.rightmove.co.uk/property-fo ... 36480.html


I refer you Thomas Tusser.

A foole & his money,
be soone at debate:
which after with sorow,
repents him to late.

It could be free and I still wouldn´t be interested because....

https://en.climate-data.org/europe/unit ... lasgow-20/
People say, "Don't you miss it, Mark?" I say, "What, England? Nah. f**king place. It's a dump. Don't make me laugh. Grey, grimy, sooty. What a sh*t hole. What a toilet. Every **** with a long face shuffling about, moaning, all worried. No thanks, not for me." They say, "What's it like, then, Spain?" And I'll say, "It's hot. Hot. Oh, it's f**king hot. Too hot? Not for me, I love it."
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Re: Property Meltdown

Postby wee Jinky » Tue Jun 04, 2019 12:50 pm » Google Chrome 49.0.262 Google Chrome 49.0.262  Windows Vista Windows Vista  Screen Resolution: 1366 x 768 1366 x 768

Laura , I was back in Glasgow last week , massive changes especially Clydeside but I really couldn't live there , it's almost as if the soul has been ripped out of it and replaced with a Cafe' latte machiatto .
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Re: Property Meltdown

Postby Laura » Tue Jun 04, 2019 1:20 pm » Google Chrome 71.0.357 Google Chrome 71.0.357  Android Android  Screen Resolution: 1024 x 600 1024 x 600

You are such a wimp Mark!
I've spent half this lifetime in tropical or subtropical zones, and I'm yearning to return to the land of my idyllic youth.
Naturally I'm having to make adjustments. Currently I can let the temperature drop to 21.5c before lighting the wood burning stove.
A couple of years ago I was putting three layers on at 25c. (I blame Malaysia for that). So I'm getting there.
A friend in Manchester asked me last week if I wanted my ski-suit brought to Glasgow when she visits. I'd forgotten that she has been storing it for a decade + :|

......
WJ, we had a great time there in May. Rip through the surface trendiness and the old spirit is still there.
As for 'New Gorbals'; & Maryhill being called 'North Kelvinside', they just add to the humour.....or do I mean derision?

We were on a 61 bus & the driver was from Surrey. "I love it here and I'll never go back south", he said.
15 years and he still couldn't say 'Aye' correctly :roll:

The nearness to hypothermia on Arran has been labelled a blip.

Anyway, next month is crunch time for the purchase of the 'pod' with station across the road. Bring on the retail collapse :problem: :(
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