London house prices rocket 10% in just one month

[scooterscot]

Eleanor part 2

p2

A lot of my friends are lucky enough to be highly educated. That’s half their problem. Their schooling was the making of them, arguably giving them the best start in life, but it affected their psyche and not always for the best. All they’ve known is achievement. A super-smart barrister friend of mine finds it difficult to enjoy her success, constantly striving for more. “Because of my schooling, achievement was ingrained in me at a young age as the only option, with anything other than being the best seen as a form of failure. At work, even when something goes well, I am already thinking that if I don’t maintain it I will look bad next time.” This is especially pertinent to my female friends who feel like they have to “make it” before their wombs grow mouldy.

So I look to you, previous generations (Generation X, baby-boomers, whoever you are) for the answer. Yet I cannot seem to follow what you’re saying. One minute you’re all banging on about leaning in, which makes me want to cancel my social life for the next five years to focus on my career, and the next you’re all drinking yourselves into oblivion.

Of course I am fully aware of how nice a life I lead right now. I have a fun and interesting job and a roof (not my roof but a roof nonetheless) over my head and Sky+ and I can afford to eat, sometimes in quite nice places. I have prize-winning friends, a supportive family and a kind boyfriend. Life is generally very good. And sometimes I can go out with my friends and laugh and dance. Yet I dare not let myself feel content. Too much to do. I’ve only got 19 months until I turn 30. tulip.

*All names have been changed. No one wants to appear like a neurotic loser in the national press. Except me.

[scooterscot]

WHS - Can't say for sure, but where I am in South Kensington

Lovely. Always looked fondly of Notting-hill, but three bedrooms with a garden would be my limit.

[NorthWestPerm2Contr]

Didn't we already have a price crash, or are you talking London only?

London only - my house is a well sized one in a good area of south Manchester and the mortgage is well below the rent value (so even with higher interest rates still ok). House prices are not going up very fast round here. For £500k you can get a mansion in Hale Barns

[sasguru]

Contractor rates have been stagnant for the last 15 years.

Only for contractors who haven't updated their skills. And that's as it should be.

[sasguru]

Lovely. Always looked fondly of Notting-hill, but three bedrooms with a garden would be my limit.

You suddenly come into a million or three?
Or just dreaming as usual, you ginger Walter Mitty loser.

[scooterscot]

You suddenly come into a million or three?
Or just dreaming as usual, you ginger Walter Mitty loser.

As the way things stand, that's my current capability. What's yours?

In any case you're impression of prices is skewed (amongst your other talents)

Could almost buy this with cash now if I wanted to:

3 bedroom flat for sale in Stoneleigh Street, Notting Hill W11, W11

[sirja]

Been waiting for that since 2001.

Still waiting.

Sorry chaps but your more likely to see the Loch Ness monster dancing to Elvis tunes, than to experience a mega house price crash. it's just not going to happen. The building industry, banks and govt are all in on the game. The govt supplies funds via all the new schemes like Help to Buy, they also make sure the market remains as deregulated as it can be(No rent controls, no tax on second homes and def no large scale home building) The banks get to lend with less risk and the govt can underwrite a part of the loans. The building industry gets to see over inflated new build box rooms, and the govt rakes in a fortune in stamp duty.

Trust me when rates go up, there'll be a short term dip in the market, but then you'll just see the banks rush out more interest only loans and longer term repayment loans. There is simply too much at stake for there to be another major property crash. A small dip of maybe 5% yes, a major 15-25% crash, sorry not going to happen. Best get on with it and try and get on while you can. This train is only going one way and that's up

[Old Greg]

Sorry chaps but your more likely to see the Loch Ness monster dancing to Elvis tunes, than to experience a mega house price crash. it's just not going to happen. The building industry, banks and govt are all in on the game. The govt supplies funds via all the new schemes like Help to Buy, they also make sure the market remains as deregulated as it can be(No rent controls, no tax on second homes and def no large scale home building) The banks get to lend with less risk and the govt can underwrite a part of the loans. The building industry gets to see over inflated new build box rooms, and the govt rakes in a fortune in stamp duty.

Trust me when rates go up, there'll be a short term dip in the market, but then you'll just see the banks rush out more interest only loans and longer term repayment loans. There is simply too much at stake for there to be another major property crash. A small dip of maybe 5% yes, a major 15-25% crash, sorry not going to happen. Best get on with it and try and get on while you can. This train is only going one way and that's up

OK then.

[eek]

Sorry chaps but your more likely to see the Loch Ness monster dancing to Elvis tunes, than to experience a mega house price crash. it's just not going to happen. The building industry, banks and govt are all in on the game. The govt supplies funds via all the new schemes like Help to Buy, they also make sure the market remains as deregulated as it can be(No rent controls, no tax on second homes and def no large scale home building) The banks get to lend with less risk and the govt can underwrite a part of the loans. The building industry gets to see over inflated new build box rooms, and the govt rakes in a fortune in stamp duty.

Trust me when rates go up, there'll be a short term dip in the market, but then you'll just see the banks rush out more interest only loans and longer term repayment loans. There is simply too much at stake for there to be another major property crash. A small dip of maybe 5% yes, a major 15-25% crash, sorry not going to happen. Best get on with it and try and get on while you can. This train is only going one way and that's up

I remember people saying that about Tokyo in 1988.....

Eventually sanity will have to return to the market. But that may be a few years away at current interest rates.....

[scooterscot]

I remember people saying that about Tokyo in 1988.....

Eventually sanity will have to return to the market. But that may be a few years away at current interest rates.....

THe market at large, yes. The market in London is a hedge fund, it's not to do with residence & a being a good place to live.