Im calling it.....

I believe London and UK property prices has hit its peak. Im putting my money where my mouth is and pulling out of buying and will not be buying until I feel there is more stability in the market.

Lets see if I'm right. If I'm wrong and the prices keep going up I'm a little shafted.

I hope so, as I'm looking to buy in about 3 years

lol prices will only go up.

What he said.

Did OP watch The Big Short last night or something?

The government and BoE have shown they will do everything in their power to ensure they don't even stagnate, let alone drop, if they do still drop then not sure we'd be worrying much about house prices by that point

Sorry, I think the Indie already called it a few weeks ago. There's been a lot of follow-up from other outlets, too.

~>Dg<~ said:

lol prices will only go up.

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..said the panicked investor

Is this an excuse to buy Porsche's instead?

so you are not calling the top of the market? you are just saying the market is too volatile? surely with volatility comes opportunity?

are you saying the market will never go above where it is now?

are you buying to live or as a buy to let?

I hope you are right - I'm holding off making any moves hoping at some point there will be a reset and I can use my money to good effect biding my time.

I don't see them going anywhere but up. Worst case scenario leaving EU causes a stability in prices but it'll only start to go up again once things have settled down.

Short of suddenly building millions of homes in sort after areas I can't see them dropping in price at all.

Is London the only city in the uk or something £400.000 for a flat above a chippy no thanks.

Spook187 said:

Is London the only city in the uk or something £400.000 for a flat above a chippy no thanks.

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£400? I'd buy it.

Spook187 said:

Is London the only city in the uk or something £400.000 for a flat above a chippy no thanks.

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its the only city in the UK, were you can make £400,000 on one property in 9 years, maybe more

I speak only for myself.

Mynight said:

£400? I'd buy it.

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Lol I always do it wrong, you know what I mean though.

I do think there is an overemphasis on property being an investment... What about just kicking in a sweet place to live? Can't put money on that!

If you are looking to upsize at a later date, those mahoosive mansions should a proportional decrease in value too. You only realise the investment when you downsize.

Unless you are buying a property to let it out, in which case I have zero sympathy for your losses, you rich git

London is a different market to normal reality for many reasons. In the real world, prices are going up, wages aren't - sooner or later that has to come back into balance.

Spook187 said:

Lol I always do it wrong, you know what I mean though.

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Indeed. It's quite disgusting. Supply and demand I guess.

The majority of new developments in London seem geared towards the highest earners as such prices won't be coming down.

Nitefly said:

I do think there is an overemphasis on property being an investment... What about just kicking in a sweet place to live? Can't put money on that!

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this im buiyign ahouse, not as an investment to make money but as a nice place to live

Heard this year on year and two things happen. Prices go up and you're left with having to find more deposit and borrow more.

It may slow down and or headline news about rabbit hutch London new builds slipping but bog standard family homes will keep increasing.