|London will prove itself as the only investable big city in Europe just about, with Italy on the verge of a major shift, even Euro money will have to flow into London.
The EU is looking like a doomed zone, expect money outflows from it and inflows into London property and the Pound.
I'm buying on further weakness here, as the no debt situation is what makes Foxtons a good investment at this stage, not to mention the dividend. Cash flow should be fine too, ticking along nicely. When this turns it will in a big way imo.|
|I see next year being rather challenging, unless Hammond reduces SDLT rates in the next budget, seems unlikely though, I think May doesn't want to be seen as being too friendly towards the wealthy, I mean if you can buy a property over £5/10M what's the whingeing about!|
|Alex I see 78p as my closure minimum unless the housing market crash quickens!|
|Hi KendoBe careful when it turns, as it surely will. This sector could present a very successful 3-5 year turnaround if you can get in around the bottom of the cycle. I don't believe that is now though. Good luck.|
|Hi Alex.Short on Foxtons, Savilles, INTU and countrywide.You know fully well I expected a Brexit and know the property market has just started its downward trajectory path.Been a great short so far on all of these and I see further falls all around.|
Sorry but you probably know very little about the London property market, do you/have you ever owned property in the capital? It is something I actually understand very well, having dealt in it since the late 80s, and on behalf of many clients!
London is seen as the safest haven of the lot, along with Switzerland, if it collapses then the whole world collapses, not to say that corrections do not happen of course, never exceeding 20% with recoveries happening very fast thereafter.
The collapse that some keep predicting ain't happening, whatever the doom mongers keep repeating every year. You'll find that every ten to twelve years London doubles, it is a market that is funded a great deal with cash and is not reliant on mortgage finance for many.
As for the Asian middle classes, what we have seen over the last ten years is only the beginning. London is at the top of their desirable list for real estate purchase, this is set to grow.
Please do some proper research before spouting out ignorant suppositions.|
|Hello out of 14,000+ property over £1M inside the M25..0nly 300+ have sold lol! Plenty that need to sell and buyers don't need too buy, they can wait for lower prices over the next year or two London real estate is a huge asset bubble, probably the biggest asset bubble in the World, prices have a long way to drop yet.|
|I suppose I agree with both of you. London prices will pick up as will sales volumes, but with Brexit concerns, interest rates increasing, and an uncertain economic outlook today might not be the best time to be loading up ... the best time to buy might just be when the doom and gloom has peaked ... in my opinion, that is not now. For now, a sector for the watchlist.|
Sales in London will pick up, in fact it is the only safe haven in Europe as far as property, it is the only international market, maybe with a smaller version in Switzerland. Foxtons is part of the agents that service that market, they also service local demand, and they have rentals that are strong and recurring.
Markets look ahead not behind as you know, at this time the market is undecided, the bad news has been baked in I believe and the market is overreacting, this company makes a profit and has no debt. So I am certainly looking forward, this will soar very fast when things get going again.
Just look at Anglo American, Evraz, Kazakhmys to realise how things turn when the money floods back into hated sectors. Foxtons will come back big time imo.|
|How can sakes pick up, central London has fallen and stagnation has set in, outside areas are following, no stamp duty reduction which some were expecting last week have not happened, interest rates will rise the end of cheap money has arrived, all of this is bad for property as an asset. Fee income will deteriorate further, they have huge branch over heads too, a sell in my books.|
|(... as for Zak Mir, all his predictions should be ignored, he just talks rubbish all the time and only relies on PIs following his lead for him to cash in. Companies like Foxtons do not fall within his pathetic radar on the whole, sorry.)|
|I find it funny how people's personal judgments on the property market cloud the investment case for Foxtons.
This share price is super cheap and people should be loading up in my view, Foxtons is a huge brand in London and the South East, with no debt and an excellent business model that delivers. When sales pick up again the share price will storm up, as the rental side ticks along nicely in the meantime, contract fees or not. This fee is a recent introduction in the rental market in London and therefore the main business model is not really reliant on it. They charge and get more than the others for finding tenants, at 11%, and of course more to manage properties.
The share price may of course go down further, but to be loading up at these levels for the upward journey to £3 is for me the thing to do now. This company is worth more than £1bn at the end of the day. I for one will be looking forward to the dividend being reinstated at some point.|
|You on here too Kendo? This one's on my watchlist for later .. but not just now.|
|Shocking news from countryside but not overly surprised.Foxtons, Savills, Countrywide all in trouble and all are falling.American markets close at 1pm today so keep an eye out.|
|lol NY boy.
Can see this at 50p within 1 year.|
|Last one out of the green minis turn the lights off|
|Countrywide's statement today says it all!|
|Combine in the factors of slowing. Home price rise, continued increases for to buy to let vendors and the chancellors downgrading economic growth for the next 12 months I can really see Foxtons struggling here.Yes please I'll buy one of those minis.|
|Falls more to do with no change to SDLT so expect a continuing prime central London sluggish market and very few sales.. taking longer to go through, which is hitting their nos and will continue to do so.|
|Dead cat bounces to 1p|
|Landlords should get tough & not pay agents asking % fee...negotiate lower fee with agents...Agents have no choice but to accept it or they go to the wall...|
|Zac Mirs 75p target.|
|All that will happen is a re location of the administration fee into another name, probably facilities fee, or directors barbados holiday fee, or similar.|
|Just a sausage which gets squeezed admin fee just moves along the line withe tenant most likely to be absorbing the cost in increased rent or other ways Pure window dressing and doesnt make life any easier|
|Did I hear Chancellor's statement... they are going to ban on letting fees paid by tenants to agents?...now that the property prices have gone to the moon aided by QE & delibrately low interest for so long ... they are tackling the issues for first time buyers who are struggling to get on the property ladder by going round the bushes...property mortgage could do with a complete separate interest rate setting...|