London House Prices Surpass 500,000 Pounds for the First Time

[SueEllen]

I don't think it is that (not wholly, anyway). I believe, based on something a friend who had a Chinese colleague told me, it's more cultural.

A former Chinese colleague of mine was shocked when I said in London older properties had more value. She explained to me that anything more than about 60 years is bulldozed and rebuilt as no-one who is Chinese wants such an old property.

[GigiBronz]

I live 10 min walk from CW is a posh gated 24hr Secuity (private swimming pool, snooker club etc)

Car park is ghost town, looks like 50% capacity, everyone is moving out as no longer need to go into the office for life

3k rentals are not £1800 rentals a month

Look forward for going for a beer with you [emoji4]

You can get a CW hotel for £30 a night at the moment why would you want to rent

That's why I am here for... the discount. Can't seem to be able to access it though...

I am looking with a friend for something more modest, 2/3 bed 2 bath and fair size.
It's slightly better in terms of quality than other areas of London and with the discount for now it makes more sense.
I've been trying to rent on my own but difficult to prove income as unemployed for quite a few months now... probably everyone has seen my rants around here. So would be sharing for now and waiting for things to pick-up.

Our budget is 1600, we can up it slightly but everything we have found for now is a bit trash.
One had underfloor heating which was not working (which the LL avoided saying) and the LL was trying to convince us that it is very cosy the property and it does not need any heating. I probably look gullible but I am not that...
He was asking £1750, it's 12th floor in one of the towers lower than CW, we offered £1500, he said no and we left it there.

Sure, we should definitely go for a beer. I have a sense that we'll see a lot of each other in the local bars.

[Andy2]

..

My questions is... who pays for all those empty properties? How does this work?
How do they afford to keep them empty and are not concerned about the market...?

many investment companies and pension funds own lot of properties

[GigiBronz]

many investment companies and pension funds own lot of properties

so people's pensions help prop up the market... how ironic

[GhostofTarbera]

That's why I am here for... the discount. Can't seem to be able to access it though...

I am looking with a friend for something more modest, 2/3 bed 2 bath and fair size.
It's slightly better in terms of quality than other areas of London and with the discount for now it makes more sense.
I've been trying to rent on my own but difficult to prove income as unemployed for quite a few months now... probably everyone has seen my rants around here. So would be sharing for now and waiting for things to pick-up.

Our budget is 1600, we can up it slightly but everything we have found for now is a bit trash.
One had underfloor heating which was not working (which the LL avoided saying) and the LL was trying to convince us that it is very cosy the property and it does not need any heating. I probably look gullible but I am not that...
He was asking £1750, it's 12th floor in one of the towers lower than CW, we offered £1500, he said no and we left it there.

Sure, we should definitely go for a beer. I have a sense that we'll see a lot of each other in the local bars.

Look around Masthouse pier (great for commuting into the city every day on boat) or 15 min walk to CW

Great walks by the river and nice and quite


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[NotAllThere]

£500,000? That's what - 610'000 Swiss Francs.

So cheap!

[ladymuck]

Look around Masthouse pier (great for commuting into the city every day on boat) or 15 min walk to CW

Great walks by the river and nice and quite


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I sometimes wish I lived near a Clipper (oh, it's Uber now) stop. The Chelsea one doesn't operate very often so I have to schlep up to Westminster

[Lockhouse]

Look around Masthouse pier (great for commuting into the city every day on boat) or 15 min walk to CW

Great walks by the river and nice and quite


Sent from my iPhone using Contractor UK Forum

I rented in Burrells Wharf by Masthouse a good few years back when I had a long hours contract at RBS in Surrey Quays. The missus used to come up to London some weekends if I didn't go back. As we sailed on the Clipper in the sunshine under Tower Bridge, en route to a dozen oysters at Pont de la Tour, she remarked "I really love London" - I rolled my eyes.

[PCTNN]

A former Chinese colleague of mine was shocked when I said in London older properties had more value. She explained to me that anything more than about 60 years is bulldozed and rebuilt as no-one who is Chinese wants such an old property.

I'm with the Chinese on this one.

I'm watching a lot of George Clarke stuff at the moment and it's shocking what people pay for period properties that are ugly and not made for modern living.

You see them say "oh we love the period features..." while they point at a cracked and filthy piece of cornice or a discoloured painted glass window.

Just a bunch of tossers wannabe posh.

[Lockhouse]

I'm with the Chinese on this one.

I'm watching a lot of George Clarke stuff at the moment and it's shocking what people pay for period properties that are ugly and not made for modern living.

You see them say "oh we love the period features..." while they point at a cracked and filthy piece of cornice or a discoloured painted glass window.

Just a bunch of tossers wannabe posh.

In your opinion of course. It'd be a rum do if we were all the same.