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House Price Crash Forum


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About ronpember

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    Political Quietist. Shoe size 10.

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  1. I would definitely add that to the mix though. My opinion is that this is a bad time to buy for ftbs because flats are not selling due to the negative sentiment post-Grenfell and therefore the typical first runger will be looking at terraces, small semis - this is where the price action is atm https://www.walesonline.co.uk/news/homes-property/priced-out-house-prices-cardiff-23354915 there are lots of ways this could play out and i'm not smart enough to know where we'll be next week leave alone five to ten years away. though I'm older I am also looking for such properties and apartments are definitely off the table. the town in Wales where I find myself now has plenty of terrace properties which are going for 10% over last summer's aready elevated prices. yet an out of town estate setting about half a mile from the centre, detached with driveway, garage and garden is the same price and only a little above the very terraces of which I speak. no doubt there are demographic reasons at play and the estates don't do it for the young, sure i get that. I just feel that if the sentiment is reversed on apartments then this might help ease pressure on the first time buyer market.
  2. agree with the other guy, cannot see that posting the pre-auction guide price is any indication of a price drop on a property, only the sold price will tell you that. it is evidence that it failed to sell by conventional means, but since they always seem to be the same crummy, run down flats and terraces in the wrong side of towns you wouldn't want to live in anyway it's hardly surprising that they turn up at auction. rr you may think you are "contributing" something but what are you really trying to achieve here? are you trying to show that there is a crash going on that is not being reported mainstream? because for the sort of house I'm after that is not the case at all.
  3. oddly, that last one in Mexborough is on with the same agent for £65000 https://www.rightmove.co.uk/properties/119556896#/?channel=RES_BUY not seen that before!
  4. “Who would fardels bear, To groan and sweat under a weary life, But that the dread of something after death, The undiscovered country, from whose bourn No traveller returns, puzzles the will, And makes us rather bear those ills we have Than fly to others that we know not of? Thus, conscience does make cowards of us all;”
  5. 1. 25% in nine ftse100 stocks, with average yield 6.07%. 25% on freehold property in wales, small town or village near small town with railway station within 3 miles. 45% to make further investments over the next year, expecting a small correction in cash markets. etfs and investment trusts with appropriate geographical and asset diversification. 5% cash (gbp) 2. when covid is not in the forefront of thinking (2022?) rent out property. move to SE Asia. Thailand. Vietnam, Laos. Travel, housesit, rent. Ten years. 3. Occupational pension kicks in. Return to UK, sell up, buy retirement home in the countryside of England or Wales. 4. Die.
  6. https://uk.finance.yahoo.com/news/heading-another-property-market-crash-060000652.html
  7. thanks to all contributors on this thread but obviously in particular to RR. This is now my first port of call when visiting the site. After I've been here I check the forum! BUT could I respectfully query why there are so many auction properties? I mean surely they will of necessity have lowered the price to attract interest. Presumably there's a minimum the seller will accept and it may well be much higher than the auction start price. just sayin' keep up the good work!
  8. "Noticing the market softening for the first time in months" Any evidence? I just checked LD1 on Rightmove, most of the overpriced converted flats in Llandod are sold and don't appear to have hung around for long. Suffice it to say larger properties are almost all gone and quickly too. Builth Wells (LD2), a large town house that would have gone for £280-£290k in 2019 is marked SSTC at £425k, sold in a couple of days, implying that the asking price was achieved. Obviously this is mid-Wales, not West, but it's the area I know and is presumably analagous? Am still seeing houses appear and then go under offer in days.
  9. ...and have you got any info on where bears go to the toilet? i'm just kidding with you. They are w*a*nkers for sure.
  10. I understand that the pontiff has recently affirmed his religious affiliation!
  11. He told you! SPX up 34% since 1 July DJIA up 24% UKX up 14%
  12. here's the article attached...hope it works not done this before on this forum!
  13. you are quite right CC, my bad! the article refers to an extension of the same using devolved powers, with some very scary numbers involved (at least from my pov!). I'll try and post screenshots of the article later.
  14. https://www.walesonline.co.uk/lifestyle/welsh-homes/anger-bidding-wars-offers-way-20584425 Fascinating piece on the current state of things here in Wales. I'm not willing to give too many details but i've recently sold in mid-wales and i achieved 12.5% over last year's price, though there were no bid wars or block viewings. However I started the process back in september and only completed last week so I can't say for sure how the market is doing today. My guess is that the properties referred to in the article are very specific types of photogenic, appealing residences which if in Surrey or Berkshire whould be £2.5 million and appear as a snip at £750k to the average Sunday Times reader in the Home Counties. Just looking at my town on RM there are a couple of houses with gardens an acre in size which have stuck, though there are other properties more reasonably priced in my opinion, which have gone to SSTC very quickly. The anecdotes in the article are interesting and seem to point to mania-type behaviour which I would suggest is unsustainable. I personally think the market has to take a breather at this point but I don't believe there will be a sustained crash - there is simply too much cash being created. Hard asset price appreciation in items outside the purview of the CPI/RPI calculations is the real reason why inflation will not take off Venezuela style. That's why I'm comfortable in the short term to be holding a mixture of shares/cash (25%/75%). The short term being six months! On the subject of Wales there's a good piece in this week's Economist about second home owners and the possiblility of a land transaction tax being introduced. https://www.economist.com/britain/2021/05/15/second-homes-are-coming-under-increasing-attack-in-wales
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