United Kingdom - Real Estate

[winston]

Downward Trend In British Property Prices Continues

British house prices declined for the fourth consecutive month in October in the face of subdued lending growth and weak demand, as the economic recovery has not yet started to kick start the property market.

Property prices were down 0.1 percent month-on-month in October, similar to the decline seen in September and August, a monthly survey from property analyst Hometrack showed Monday.

On a yearly basis, prices dipped 0.4 percent, the smallest in two years.

http://www.rttnews.com/story.aspx?Id=1992419

[kennynah]

prop market here is very much less speculative one... up and down very small % nia...

[winston]

London Luxury-Home Prices Buoyed by Overseas Investors By Chris Spillane

Luxury-home prices in central London rose at the fastest rate in four months in October, as overseas investors sought less-risky assets, Knight Frank LLP said.

The average value of a house or apartment in the U.K. capital’s most expensive neighborhoods climbed 0.8 percent from September, according to an index published by the London-based broker today.

The annual increase was 10.1 percent with demand for apartments outstripping that for houses, Knight Frank said.

http://www.bloomberg.com/news/2012-11-0 ... stors.html

[winston]

U.K. House Prices Fall For Fourth Month: Halifax

House prices in the U.K. decreased for the fourth straight month in October, as conditions in the mortgage market deteriorated further amid persisting uncertainty over the economic outlook.

http://www.rttnews.com/story.aspx?Id=1998869

[winston]

Downward Trend In U.K. House Prices Continues

U.K. house prices dropped for a ninth month in a row in November, according to the results of a house price survey released on Thursday.

Prices are expected to remain subdued in the months ahead as downward pressure on wage growth will weigh on prospects of house price growth.

House prices were down 1.2 percent from a year ago following a 0.9 percent drop in October, the Nationwide Building Society said.

The rate of decline exceeded the 1 percent drop forecast by economists.

http://www.rttnews.com/story.aspx?Id=2014114

[winston]

London-Luxury Homes Gain Least in More Than Two Years By Chris Spillane

Luxury-home prices in central London rose at their slowest rate in more than two years in November as investors delayed purchases ahead of possible new property taxes, according to Knight Frank LLP.

The average price of a house or apartment in the U.K. capital’s most expensive neighborhoods climbed 0.4 percent from September, according to an index compiled by the London-based broker. That’s the smallest increase since October 2010, when prices fell 0.2 percent.

http://www.bloomberg.com/news/2012-11-3 ... years.html

[winston]

UK House Prices Stable In December, To Rise Modestly In 2013: Survey

House prices in the U.K. stayed unchanged from the previous month in December, data from a survey by mortgage services provider Acadametrics and LSL Property Services Plc showed Friday.

The average price of a home in England and Wales remained broadly unchanged month-on-month at GBP227,026 in December, after recording a 0.2 percent increase in the previous month.

Compared to December 2011, house prices increased by 3.2 percent, boosted mainly by a marked rise in prices in London.

The latest annual growth followed a 3.3 percent increase in November.

http://www.rttnews.com/story.aspx?Id=2036100

[winston]

U.K. House Prices Hit Record High: Rightmove

The fifth consecutive monthly increase in the U.K. house prices amid limited supply took average asking prices to a record, a survey by Rightmove showed Monday.

House prices hit a record GBP 249,841 in May, as new sellers raised their prices by 2.1 percent from the prior month.

Prices were up by the same magniture in April.

http://www.rttnews.com/story.aspx?Id=2120965

[winston]

He Made 800 Times His Money… And He's Buying Again By Dr. Steve Sjuggerud
Thursday, August 1, 2013

"Do you still have that first apartment you bought here in London in the late 1970s?" I asked my friend Peter Churchouse over dinner in London on Saturday night.

"No, we sold it about five years ago," he said.

In other words, he sold at the top of the global real estate bubble… He had perfect timing.

"So what are you doing in London?" I asked him.

"We're here buying back in," he said.

To me, Peter is a legend in global real estate investing. He's bought and sold property all over the planet.

His main focus has been Asia. But when he sold his London apartment five years ago, the annual rent he was earning from it was more than what he paid for it.

The story gets even better… Peter bought that place with just a 10% down payment… So the return on his initial investment must have been out of this world. I asked him if he knew what the return number was.

"We made about 800 times our initial investment," he said.

Peter and I were both in London last week. I wanted to hear what he was up to these days.

We met for drinks at my hotel, the Royal Horseguards. (Funny name… but the hotel was fantastic. If you are a tourist in London, stay here!) We then had dinner around the corner from the hotel at Boyd's Brasserie (another great find… a rare underpriced restaurant in London).

I was surprised to hear that Peter is buying again… After all, property prices in London are as high as anywhere in the world. Russian and Chinese billionaires are paying upwards of $100 million – for an apartment.

Doesn't that have to be some kind of bubble? What kind of apartment could be worth that kind of money?

It turns out, Peter is actually buying apartments in London…

He explained why over dinner: Many wealthy foreigners want to get their money OUT of their home countries, and property in London is their top choice. Peter doesn't see this trend going away.

Yes, he's fully aware that prices are as high as anywhere in the world… and he's OK with that.

"With all due respect to New York, London is the world's money capital," Peter said. "And foreign money comes here. It's easy to buy real estate here as a foreigner. People are scared away from the U.S. because the real estate taxes are complicated."

Having spent a few days here in London, I have to agree about the "big money" coming here… I've never seen so many Ferraris, Bentleys, and Bugattis in my life.

Peter is sticking to buying quality apartments in more upscale areas.

London has been an incredibly strong property market… Prices are actually at new highs. The city shook off the global property-price bust better than just about anywhere.

Peter doesn't see London's attractiveness to foreigners changing any time soon. So he's buying.

Remember, Peter made 800 times his initial investment on his first purchase in London. He is one of the best real estate investors on the planet. And now he's buying again.

If you're interested in non-U.S. real estate, London apartments may be a good bet – at least according to one of the world's best real estate investors…


Source: Daily Wealth

[behappyalways]

Global safe haven for property 'creating ghost towns in London’
http://www.telegraph.co.uk/finance/news ... ondon.html