London House Sales Slump

Re: London Sales Slump

In fairness...could you not have just added this comment to an existing thread????

Aren't the same replies going to be posted in this thread as in all the other threads?

A hyperlink does not make a new topic!!
 
Re: London Sales Slump

In my humble opinion, news of this magnitude is not really out of place as a new topic

"House sales in London have collapsed to their lowest levels since records began 10 years ago"

And Duplex is one of the most respected posters in this forum - again IMHO.
 
Re: London Sales Slump

Steo said:
And Duplex is one of the most respected posters in this forum - again IMHO.
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S/he may well be but since the original poster is unregistered we have absolutely no idea/guarantee who s/he is.
 
Re: London Sales Slump

ClubMan said:
S/he may well be but since the original poster is unregistered we have absolutely no idea/guarantee who s/he is.
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Me - I tend to go by what a poster is saying rather than what name (usually phoney) they choose to register under
 
Re: London Sales Slump

Duplex said:
What [would] happen in Ireland [if] sales in Dubin fell by a similar figure?
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Replace "would" with "will", "if" with "when" and "fell" by "fall" and this question becomes even more worrying.....
 
Re: London Sales Slump

but IIIIII am Duplex and I say London sales have increased and that the market is bouyant, shame on the nay sayers who rain on the property parade !!!!!
 
Re: London Sales Slump

Duplex said:
What would happen in Ireland if sales in Dubin fell by a similar figure?
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Dublin is not Ireland so the answer is nothing much really .

I would worry about PRICES IN IRELAND dropping by 40%
 
Re: London Sales Slump

Surely a london/Irish property thread would fall under this () category and therefore should be amalgamated into it?
 
Re: London Sales Slump

I think the message was referring to SALES dropping.

The best answer to Duplex's question I came across was from an unregistered user on this website. (Why are all the best posts from unregistered users? - sorry I digress)

The end game:
The stalemate will be resolved in favour of buyers. Why? Because in a stagnant market with cautious buyers there’s always more distressed sellers on the margin than distressed buyers. Prices in free markets are set on the margin, ask any 1st year student of economics. In any case, the marginal distressed seller- divorce, kids, job loss, higher interest rates- will have to accept whatever price they can get. They’ll have no choice because cash will be king and serious buyers will have tremendous leverage to ratchet trade prices down and down. As one distressed seller after another accepts a lower price the falls gain moment, more people go into neg equity, and sentiment goes well and truly ugly. This part of the sequence is swift and brutal. (Aside, my guess is because the economy here is so tied to property there’ll be a recession brought on by the collapse of prices and this will make things even uglier).
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Re: London Sales Slump

Unregistered said:
Me - I tend to go by what a poster is saying rather than what name (usually phoney) they choose to register under
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Unregistered names are even more phony than registered pseydonyms. Unlike the former, the latter provide some level of guarantee that the same person is posting each time.
 
Re: London Sales Slump

This registeredusers versus unregistered has cropped up before. Is there anyway the merits of each can be merged and discussed in a single topic.

It really has nothing to do with the subject of this thread:

"House sales in London have collapsed to their lowest levels since records began 10 years ago"

..and the question following this very important fact.
 
Re: London Sales Slump

Gabriel said:
Surely a london/Irish property thread would fall under this () category and therefore should be amalgamated into it?
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Well I for one found that the shock title of the thread caught my attention!!

(Mind you "Property Sales Slump by 40%" on its own without the London bit would have been even more eye-grabbing!)

A lot of people look to the UK and London markets for clues as to what may happen with the Irish market.

I would be worried if this trend remains for any period of time.
 
Re: London Sales Slump

MonsieurBond said:
A lot of people look to the UK and London markets for clues as to what may happen with the Irish market.
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That's a very good point. We are lucky here in Ireland in the sense that we have the UK and several other countries that are like "canaries in the coalmine" for us. They are giving advance warning on how robust the global housing boom (or bubble) is to interest rate rises. The message is not very encouraging: Things are turning ugly :(
 
Re: London Sales Slump

Unregistered said:
That's a very good point. We are lucky here in Ireland in the sense that we have the UK and several other countries that are like "canaries in the coalmine" for us. They are giving advance warning on how robust the global housing boom (or bubble) is to interest rate rises. The message is not very encouraging: Things are turning ugly :(
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My main problem with these types of posts I think is illustrated above. Instead of looking at the FACTS of the Irish market [be they good or bad] certain people just want to talk the market down.
Just as they accuse everyone with a differing opinion of having "vested interests" they quite obviously have vested interests themselves and are only interested in continuously forecasting our doomed fate in sometimes hilarious scenarios that are far removed from reality.
 
Re: London Sales Slump

If you really - hand on the heart - believe that house prices in Ireland will only go up and never go down then you shouldn't find it upsetting that someone else should think otherwise.

And whether or not a house price correction signals "doom" really depends on your point of view. There are many who believe that house prices returning to more normal levels would actually be good for the country long term.

If you want to buy property in Ireland today then by all means go ahead - it's your money/debts - but make sure you take emotion out of it and have some contingency plans as sentiment appears to be shifting.
 
Re: London Sales Slump

Unregistered said:
If you really - hand on the heart - believe that house prices in Ireland will only go up and never go down then you shouldn't find it upsetting that someone else should think otherwise.
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I've already posted a link to a sensible debate on this topic which looks at the bubble theory in a factual manner.

I already have property...my ppr. No intention of buying anything else right now. No vested interest.

...sentiment appears to be shifting.
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Why...because you say it is or because you can provide facts?
 
Re: London Sales Slump

Your idea of a sensible factual posting is a posting that agrees with your viewpoint. Anything else gets the usual ranting. Quite funny actually!

There are plenty of postings dealing with facts and sentiments but it's the old saying "there are none so blind as those who refuse to see"
 
Re: London Sales Slump

Your idea of a sensible factual posting is a posting that agrees with your viewpoint
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No...it is not. A sensible posting is one that backs up theories with facts and sensible scenarios.

This is the link I provided which few, obviously, bothered to read....

[broken link removed]

It deals with the bubble theory in a factual manner, as opposed to an alarmist one.

You'll excuse me if I take my rational debating style somewhere with more rational debaters.
 
lower property prices are a GOOD thing

Duplex they removed your Fallujah Investment parody to 'the craic'. it was hilarious, keep it up. But it does go to show you the ethos of this site. I.e. property bullish views prefered... the bears around here should take solace that events will unfold in our favour...
 
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