Property DOOM

[AtW]

"London’s property market appears to be cooling down with research revealing that up to 40pc of houses for sale in some areas of the capital have had to cut their asking prices since coming to market.

Earl’s Court, in west London, and Surbiton, to the south-west, had the highest proportion of price cuts in the capital, with 40pc and 38pc of properties for sale in the respective regions reduced in value.

The price cuts are largely concentrated in the high end of the market, in the centre, west and south-west of the city.

One-third of properties currently for sale in the borough of Kensington and Chelsea have had to cut their asking prices by an average 8pc, according to property analysis firm Propcision.

Adam Challis, head of residential research at JLL, said: “The demand doesn’t fuel a sense of urgency so you need to adjust expectations on price to get an agreed sale.”

More from the source: London property market cooling as asking prices are slashed

DOOOOOOOOOOOOMED!!!

Only quality flats in Bham will continue to raise forever, everything else is under threat!!!

[MrMarkyMark]

Hardly surprising, probably started to reduce as soon as you put pen to paper

[DimPrawn]

How laundered money shapes London’s property market - FT.com

The leaks from the Panamanian law firm Mossack Fonseca have brought back into focus the ownership of London property via offshore companies by people suspected of corruption overseas — a phenomenon that has helped to shape the capital’s housing market, where prices are up 50 per cent since 2007.

Most of these properties were bought using anonymous shell companies based in offshore tax havens such as the British Virgin Islands. Overseas companies own 100,000 properties in England and Wales, Land Registry data show.

If you or I want to open a bank account to deposit £5K, we have to jump through hoops "to prevent money laundering".

If some international despot wants to buy 100 London mansions for £10,000,000,000 he open an offshore company, buys the lot, no questions asked.

London is the most corrupt place in the World. A criminal billionaire's playground and store of wealth.

And UK authorities take no look, ask no questions....

[MrMarkyMark]

FTFY

London is the most corrupt place in the World. A criminal billionaire's playground and store of wealth.

And UK authorities take no look, ask no questions, as money laundering is the only industry keeping the UK economy afloat.

In colonial times we were, both, drug pushers and dealers, now we just hide their profits

[unemployed]

"London’s property market appears to be cooling down with research revealing that up to 40pc of houses for sale in some areas of the capital have had to cut their asking prices since coming to market.

Earl’s Court, in west London, and Surbiton, to the south-west, had the highest proportion of price cuts in the capital, with 40pc and 38pc of properties for sale in the respective regions reduced in value.

The price cuts are largely concentrated in the high end of the market, in the centre, west and south-west of the city.

One-third of properties currently for sale in the borough of Kensington and Chelsea have had to cut their asking prices by an average 8pc, according to property analysis firm Propcision.

Adam Challis, head of residential research at JLL, said: “The demand doesn’t fuel a sense of urgency so you need to adjust expectations on price to get an agreed sale.”

More from the source: London property market cooling as asking prices are slashed

DOOOOOOOOOOOOMED!!!

Only quality flats in Bham will continue to raise forever, everything else is under threat!!!

Got to love the UK media. Slight drop in prices call the cavalry , but prices doubling since HTB or 2013 nothing to see here move along.

corrupt from the top to the bottom.

[AtW]

If you or I want to open a bank account to deposit £5K, we have to jump through hoops "to prevent money laundering".
If some international despot wants to buy 100 London mansions for £10,000,000,000 he open an offshore company, buys the lot, no questions asked.
London is the most corrupt place in the World. A criminal billionaire's playground and store of wealth.
And UK authorities take no look, ask no questions....

Gidiot got a cunning plan to shaft them

He is already charging annual fees for house ownership via offshore companies, pretty big numbers, also they are taking action to get final beneficiaries disclosed and people who bought it never planned on it, so they will be trying to sell that crazy expensive stuff and that's where 15% stamp duty kicks in for the buyers, but in reality buyers will demand discount to price, a haircut so to speak