neuvilla

Cambridge drops 10%

29 posts in this topic

On 3/25/2017 at 4:23 PM, mathschoc said:

Estate agents come up with a lot of bull.

 

So they hired 17 actors to pretend to be buyers on the open day?

The denial is strong in this one.

Fact is, the property market in nice cities in the South-East of England where there are plenty of well paid jobs is very bouyant. The froth is in PCL, shittier areas of London, and crappy towns like Luton and Swindon.

Share this post


Link to post
Share on other sites

After my comments there was a downturn it now seems to be peak prices again in Cambridge.

Two lots of friends have accepted well-over asking price offers on their houses. 5-10% over with a flurry of buyers bidding against each other including lots of BTL types. 

Disfunctional market means they had to have firm offers before they would be in the running for any houses up the "chain" so moves may not happen for months.

Edited by Timak

Share this post


Link to post
Share on other sites
7 minutes ago, Timak said:

After my comments there was a downturn it now seems to be peak prices again in Cambridge.

Two lots of friends have accepted well-over asking price offers on their houses. 5-10% over with a flurry of buyers bidding against each other including lots of BTL types. 

Disfunctional market means they had to have firm offers before they would be in the running for any houses up the "chain" so moves may not happen for months.

This is what I am seeing here around cambridge and 20 miles out. Untill recently there were loads of for sales signs (i ride into cambridge from an outside village each day) suddenly over the last two weeks they all went sold. I thought those in BTL areas would be languishing for months but student BTL's onplaces like coldhams lane just sell easilly.

It is still a disfunctional market with no sign of demand drying up even though there are a large number of european immigrants here working in the tech and uni sectors. From here in cambrige this mythical crash people are claiming they are starting to see is as far off as ever. I've given up now and will leave cambridge this year and with record low mortgages like the 0.89% deal on another thread and the atom bank 5 year deal i cant see this running out of steam yet. BTW the same is happening in hampshire where I have family disposing of a property, asking price easilly acheived on nearly 600k bungalow brought on a soldiers wage 40 years ago, with older people just swapping property between themselves and the occasional big inheritance FTB's facilitating those that also want to join the housing party. I will say again I don't think we will see a negative set of national housing HPI figures this year.

Share this post


Link to post
Share on other sites
On 21/04/2017 at 0:26 PM, Mr Banks said:

This is what I am seeing here around cambridge and 20 miles out. Untill recently there were loads of for sales signs (i ride into cambridge from an outside village each day) suddenly over the last two weeks they all went sold. I thought those in BTL areas would be languishing for months but student BTL's onplaces like coldhams lane just sell easilly.

It is still a disfunctional market with no sign of demand drying up even though there are a large number of european immigrants here working in the tech and uni sectors. From here in cambrige this mythical crash people are claiming they are starting to see is as far off as ever. I've given up now and will leave cambridge this year and with record low mortgages like the 0.89% deal on another thread and the atom bank 5 year deal i cant see this running out of steam yet. BTW the same is happening in hampshire where I have family disposing of a property, asking price easilly acheived on nearly 600k bungalow brought on a soldiers wage 40 years ago, with older people just swapping property between themselves and the occasional big inheritance FTB's facilitating those that also want to join the housing party. I will say again I don't think we will see a negative set of national housing HPI figures this year.

It is actual land registry data that has shown a drop in house prices in Cambridge. Of course, this is taken across all levels of housing, and it does seem that the figures are skewed by drops in the much higher priced houses. The same seems to have happened in London, based on the news today. So I guess we'll just have to wait to see what effect this has on the extortionately priced "normal" houses.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.