London property panic station...

[BrilloPad]

Battersea panic stations: Investors flee luxury scheme as up to £2m is knocked off some asking prices | City A.M.

The news adds to fears that demand for prime homes in the capital is waning as the chancellor’s reforms to stamp duty and capital gains tax, coupled with the collapse in oil prices and falling Asian currencies, are leaving overseas buyers out of pocket.

They thought they were betting on a sure thing. Like Lloyds of London insurance in the 80s.

Beginning of the end? Or buying opportunity?

[AtW]

They thought they were betting on a sure thing.

It was sure thing before Osborne started his campaign of socialism.

12% tax, plus 3% extra even if you have house outside of UK (which all those people will have), who the fook would want to pay 15% levy on transaction??? 6 sales and whole value of house ends up in Treasury coffers.

Why would those wealthy people want to pay so much only to move to country where taxation just got 30% higher???

And if those people don't come to live here then they will keep a lot of their money away from British banks too.

The Tory Scum is all up in arms against tiny transaction tax for City gambling, but yet they feel it's totally fine to have crazy levels of transaction tax (which is known as "stamp duty") on already very expensive committment normal people make: one law for their buddies and another for the proles.

[diseasex]

buying them half price will be buying oportunity , no matter how you look at it.

[AtW]

buying them half price will be buying oportunity , no matter how you look at it.

The way I look at it is this - living in a place build where a fricking power station was for a long time with flats being sold for millions, are they nuts???

[vetran]

buying them half price will be buying oportunity , no matter how you look at it.

Quick someone tell Mauve Monkey!!!!!!

This time next year Rodders we could be into BTL.

[diseasex]

The way I look at it is this - living in a place build where a fricking power station was for a long time with flats being sold for millions, are they nuts???

well Malaysians bought them for £400m and now can't sell, so who cares?
=)

[Uncle Albert]

The way I look at it is this - living in a place build where a fricking power station was for a long time with flats being sold for millions, are they nuts???

Living by the river in central London and right next door to the new US embassy. Sounds like a good investment to me.

[AtW]

Living by the river in central London and right next door to the new US embassy. Sounds like a good investment to me.

"A four bedroom townhouse on the site was listed in July last year for £6m, but was reduced to £4m in January – a decline of 38 per cent. Another one bedroom flat in the Fladgate building has had its price cut four times since it listed in April last year for £850,000, and is now on the market for £600,000."

Lovely innit...

[diseasex]

"A four bedroom townhouse on the site was listed in July last year for £6m, but was reduced to £4m in January – a decline of 38 per cent. Another one bedroom flat in the Fladgate building has had its price cut four times since it listed in April last year for £850,000, and is now on the market for £600,000."

Lovely innit...

I'd buy it for £300,000...

[AtW]

I'd buy it for £300,000...

£300k for a tiny 1 bedroom London flat next to high profile terrorist target seems very much overpriced.

£6 fricking millions for 4 bedroom flat in former power station that still looks like power station LOL

Stamp duty on it would have been £633750 + 3%: £180k - pretty close to £1 mil in taxes.