To think London property prices will crash soon?

[princeps]

The economy is on the down, house prices are way too overheated in London, a whole generation cannot even afford a dingy flat.

I can see house prices dropping a fair amount soon. Obviously nothing like halving in value, but a good 20-30% fall. Some of the banks are moving out that are keeping prices up, and the government finally seems to be turning against Chinese dirty money parked into new tower blocks.

Depends how much more dirty money gets pumped in

Only anecdotal but talking to a neighbour recently she mentioned two different friends who have both had zero interest in their London properties. But I obviously don't know the finer details.

Im out in commuter-ville and ive found that house prices here (in Bedfordshire) have risen big time so that its no longer hugely cheaper than london. So im seeing london prices stagnating

Hoping so, I want to buy my HA flat! Can’t afford it currently despite the hugeeeee discount and earning 40k. It’s a joke!

It would be nice, but I feel like the rich would just swoop in and buy them up.

People have been saying this for years now, and it hasn't happened yet. There's been a slow down, and a small fall in property prices, but I think as soon as prices fall even 10%, you will get developers and landlords taking advantage and thinking they can make a profit. London may be less attractive for foreign investors following Brexit, but it's still attractive for UK based investors.

Equally, if prices start to fall a lot, people just won't sell, and as supply reduces, demand will start to push prices back up a bit.

Prices have been insane for years, and I honestly think if there were to be a real crash then it would have happened by now. I do think prices could fall by a few percentage points this year, though.

Jayblue. What about the 90s price crash then?

No. Still too much investment coming in from Malaysia, Singapore and China to stop developers from supplying a more achievable product for the high end of the UK domestic market, still an undersupply of resale housing stock, so prices won’t drop there and people are holding off selling while the uncertainty over Brexit rumbles on.

Family sized homes are selling well, and fast, round here. Prices level.

I don't think London will get cheaper. Agree with pp ^^

Ha! Thread moved fast...agreed with wizzywig

Interest rates are low. There has been chatter of another global recession. Brexit is obviously going to present economic challenges. Government policy has distorted the market. It’s a ticking time bomb. BUT I think that it would take a combination of a large global and national recession, interest rate rises and a change in government policy to cause a full in crash. Or Jeremy Corbyn becoming prime minister. Whichever comes first because the two will likely come together if we’re going to be honest.