meow

Hey stuckmojo, could you elaborate on the "peak mania" in newcastle? I'm interested in what exactly it is that you're seeing?

Hahah, thanks for the laugh

So am I to understand that the total standstill of this thread is indicative of everyone either a ) buying at the 2012-ish -> 2015-ish bottom b ) still denying reality and looking forward to a larger crash that isn't going to happen now Yes, there are pockets of crap (or should that be mainly crap with pockets of good), but as has been pointed out here many times before, the real story is about desirable properties in desirable locations.

Wow it's been a long time since I've last been here, I'm amazed the old faithful posters are still going! What a different place the market is looking at the moment.

It's funny you should mention the low fell development especially in the light of the gaurdian article the HPC blog highlights... http://www.housepricecrash.co.uk/newsblog/2013/02/blog-greed-and-avarice-set-to-continue-38712.php Not thinking they'll mainly get BTL attention! NO NO!! Why would you even think such a thing *tut* However, meanwhile in the real world some 12 months from now.... http://blogs.marketwatch.com/thetell/2013/01/25/soros-sees-soaring-interest-rates-strong-euro/ I'd think there are probably some people out there standing on the shore, stark naked, wondering why no-ones noticed yet... and perhaps having your balls on show when the tide goes out "is" ok after all, or perhaps the sheer scale of the problem we're facing takes a little longer to unwind. I do think people in the north east seem a little more risk averse and spend thrift now, something that was normal before about 2000.

Hello all, haven't posted in a loooong time, I find it interesting that the last two pages or so cover almost 2 years! I also find it interesting that others are seeing price decreases and EA stock volume increases in good areas. There have definitely been significant drops in lesser areas, in the instances where sellers are actually serious about selling i.e. the people who aren't 2007 dreamers complete with their garden based, EA board adornments as permanent fixtures... couple of properties down the road from me that I believe I reported on this thread some pages/years back STILL on the market, STILL not really reduced their price. The next interesting trend I'm spotting on here is public entities trying to branch back into property to boost the coffers to, what would appear to be, the detriment of local private landlords. Excuse me whilst I find this massively funny! In the wider context, shops keep-a-closin', mortgages are getting much harder to come by as long predicted on the main forums and the price of everything "but" houses just keeps going up. As a small anecdotal addition, I've noticed car forecourts are MUCH keener on giving you deals.

If you "can" wait... wait. The pay off in the long run is many fewer years of mortgage slavery at a much reduced rate. If you just wanna get on with things, why are you here?

1) Yes, has been for a while, few lucky people and persons with houses you'd actually want to buy still getting sales, other than that total stand still, try looking at some postcodes here... http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=ne1&sellersPriceGuide=Start+Search 2) No *yawn* it is taking a while isn't it, but we're now entering double dip part two and public sector cuts... As I've said before, this is inevitable, "normal" people can not afford "average" houses + economy buggered = prices drop when sellers are forced... WHEN.

Counting "Sold" boards is what you actually want to do (although it's possibly just a tad too early to see them... if at all! ), it could be construed as either a good or a bad indicator having lots of for sale/to let boards in any area, however a lack of "sold boards" some months later only means one thing. What I have been noticing near me is there have been quite a lot of for sale boards that have come and gone on the same properties, the only thing that changes are the agent, none sell. As for rental, the only properties that move are the ones that aren't tatty/don't look like they've stepped out of the 1970's, that's possibly because even the tatty one's are generally asking the same or "slightly" below the "approaching extortion" of the decent/good flats. Good example of this down the road, over the past 18 months I've seen a flat try "to let", then "for sale", then "to let/for sale", then "to let" again, last time I looked I believe they have given up as there's no board and it certainly hadn't sold or let. Classic, cognitive dissonance in action... "My flat doesn't look like a mish mash of a 60's tart's boudoir/the inside of an austin meastro and the express/sun/daily mail keeps telling me prices only go one way whilst also bemoaning heavy job losses, higher taxation and the lack of mortgages.... I just don't understand why after trying to let it 3 times at the same price as reasonably nice looking flats I can't sell it either for the 2007 price? ERROR ERROR ERROOOOORRRR......"

I never understand why estate agents try this, but it would appear to be the old "it's not selling at a reduced price so people must be being put off assuming something is wrong as it's too cheap"... The problem is it isn't 2007 any more and probably the reason why it "actually" isn't selling is because it's still too "expensive" at the "reduced" price. Adding to that mix the fact that there are two types of sellers currently (and has been for a while): mentalists who think it's 2007, and, people who are actually going to get a sale. What "still" doesn't really seem to be happening amongst most of the market is a major motivating factor whereby people feel they really should or must sell. This factor is long overdue... but doesn't mean it isn't coming.

I wouldn't credit them with that much exactness in their definition... often what is meant by "Newcastle" is "Tyneside" which could roughly encompass Newcastle, North and South Tyneside and Gateshead... would make more sense, but who knows!

I think I have noticed that before, but as someone who doesn't like the idea of living (partly) on a flood plain, I don't really visit that estate much... drive past it plenty and laugh at the "93K for a flat" advert, but don't go in. p.s. is that a record for longest time without a post on this thread?

There "is" something in the air... http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8286800/UK-consumer-confidence-suffers-astonishing-collapse.html

I would conclude this actually shows how many public sector workers there are in Newcastle! As much as I don't believe the ONS median figures for N.E. wages, I actually thought these averages would be higher based on more people earning more in the richer areas, but it seems 25-35k is the "reasonably well off" range and above that makes you someone pushing the top percentiles! Once again though, ever the cynic, where the hell did mouse price get such finer-grained earnings data??!?! Figures like this really do put in perspective how absolutely inevitable a large scale crash in this area is... and should make those renters out there reassess whether they should be paying what they are!