The slump in London house prices is accelerating

[Agent ZigZag]

23 minutes ago, sancho panza said:

LCP and LSL acadata series are generally regarded as the most representative proxies for HPI.LSL has 22/33 London Boroughs falling yoy.Think 2013/14 is about the most extreme of the falls.Inner boroughs down,outer still rising I believe.

I'll post some of the data tmrw.

All data if reliable is invaluable as to the direction of travel. The outer London zones 3 to 4 have turned as far as I can see but have yet to reach the aggressive retracement that zones one and two have undergone. I expect the same level of falls over the next 6 months however.

[Band]

4 minutes ago, Agent ZigZag said:

£750billion I think the papers reported.

 

24 minutes ago, sancho panza said:

But it's not £1tn is it?

As he says 750bn and thats for starters and before a recession has kicked in.

[sancho panza]

57 minutes ago, Agent ZigZag said:

£750billion I think the papers reported.

 

 

 

It's not that at all.....£500bn of QE it ain't.

It's £1.2 bn they can leverage up to $500bn contingent upon them taking on board the TFS liabilities.It'll be collateral dependent too

In terms of HPI I think you're right the price action is the price action.I think the difference now looking forwards is the impact of S24.BTLers were the ones who pushed some markets eg Prime London down to 2% gross yields.Who's going to repakce and when in sufficient numbers to stop the current downturn in Lodnon becoming a rout.

But there are so many variables that it's hard to extrapolate a chart line given that the market relies on mortgage credit and people's psending power relies on the value of sterling.

Personally,I think we'll be tracking the fed from here but I could be wrong.

https://www.theguardian.com/business/2018/jun/21/philip-hammond-hands-bank-of-england-new-powers

' Hammond said the government would give the Bank £1.2bn, a sum that would underwrite the £500bn lending pot, but the move would not impact public borrowing because the money would remain in the public sector. The half a trillion pound fund could be accessed by commercial banks for funding, including during credit crunch-style financial crises.

“We now have a balance sheet fit for a new world order with greater reliance on markets in a wider range of reserve currencies,” he said.

As part of the changes, the Bank of England will see the emergency funding programme launched straight after the Brexit vote, known as the term funding scheme – which provides banks with cheap finance during times of stress – become part of the Bank of England’s balance sheet rather than the Treasury’s.

 

 

[TheCountOfNowhere]

The troll is strong in this one.

 

They're so worried about a collapse they're now posting on a house price forum on the dirty old slapper birds web site.

 

That's pretty desperate.

[Band]

On 09/07/2018 at 08:06, TheCountOfNowhere said:

The troll is strong in this one.

 

They're so worried about a collapse they're now posting on a house price forum on the dirty old slapper birds web site.

 

That's pretty desperate.

Yes clearly people pointing out the lengths the boe /treasury go to to prop up house prices are trolls. But why is it whem you raise this exact issue regards the recent billions the boe can now use thanks to Hammond on your twitter feed its perfectly acceptable. Seems youve multiple personalities.

[grumpygit]

On 09/07/2018 at 08:06, TheCountOfNowhere said:

The troll is strong in this one.

 

They're so worried about a collapse they're now posting on a house price forum on the dirty old slapper birds web site.

 

That's pretty desperate.

Is HPC down today count?

[TheCountOfNowhere]

4 hours ago, grumpygit said:

Is HPC down today count?

No idea, I don't post there now. Sold my account on ebay. 

[grumpygit]

6 hours ago, TheCountOfNowhere said:

No idea, I don't post there now. Sold my account on ebay. 

Isn't DOSBODS also owned by HPC 

I worked that one out in the first few secnds

[Yellow_Reduced_Sticker]

I posted this at DB's thread however it fits well HERE!

More BAD News For Property ...HOORAY!

Buy one get one FREE ...anyone? 

https://moneyweek.com/londons-luxury-new-build-property-are-in-big-trouble?

[Band]

1 hour ago, Yellow_Reduced_Sticker said:

I posted this at DB's thread however it fits well HERE!

More BAD News For Property ...HOORAY!

Buy one get one FREE ...anyone? 

https://moneyweek.com/londons-luxury-new-build-property-are-in-big-trouble?

Fake news,  there are no bogot deals.