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needle

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Everything posted by needle

  1. Apollo lacks a little something in the "research" department again. dear, oh dear!
  2. WA14 - SW Manchester Jan-May 2004 496 sales Jan-May 2005 165 sales (assuming all sales are in) Lets do some sums kiddies - 165 as a percentage of 496 is 33.266% (33.3% = one third). Therefore sales volumes have dropped by 2/3. YOY. Thats scary. Even if the figures are wrong by 100% (meaning that twice as many houses were sold as are on the LR figures) it still indicates a drop in sales of 1/3. 30%. I bet apollo has something dumb to say.
  3. What the surveys really show is the dry-throated, clasping, slow, suffocation of an industry of grossly overpaid agent and analysts. Now they are turning on each other. Hark! The dying yelps of these snide little mongrels who failed to spot what a bunch of half-assed internet amateurs like us could see coming a mile off. (a bit strong, i know, but i hold these people in very high contempt...)
  4. People alike you put a smile on my face. If this is the level of analysis you are applying to the market, I am getting more and more sure that a HPC is underway. Mate, no disrespect, but this is kindergarten logic. Dont you have any evidence to support your position? Look at the logic of your own arguement - "...people are coming to work here, some willing to accept lower pay...These are the ones that are buying houses at high prices and paying rents to the BTLs." How the hell does lower pay = higher house prices? Surely its exactly the opposite? And again "willing to accept lower pay and work harder than the Brits....giving these people a chance to work and prosper" How do you prosper if wages are falling? How do you buy a house and push prices up. It does get a bit boring on here with all the evidence of a house price reduction so its nice to see some complete fruit come along and say the opposite...especially when its so blatantly mad. Keep it up you crazy wacky guy
  5. yes those poor Scots. Theyre a little bit simple really so they need to be educated in the anglo-saxon property market. All that celtic fraternity, balanced regulation and fair play just wont do...... I notice its a premium rate number too, you can be charged up to £1.50 per minute on those numbers..... Would you pay £1.50 per minuteto listen to Krusty? "Hi im Krusty and I wanna see your big fat debt..... I bet youve got a HUGE mortgage, big boy......"
  6. What you are looking at is the movement of debt in the economy. When people are highly indebted, they cannot take on any more - thats why the FTBs have left the market. Now people higher up the chain cannot "sell" their debt, get some capital and use it as security for a larger debt (ie trade up to a bigger house) Thats why STR was a smart move - you offload your debt early and take it back on later at a lower price. Its all about debt.
  7. You've hit the nail on the head here. Pity people didnt question this 3 years ago. The average house price is whatever you want it to mean. It can be the average price of similar houses (3 bed semi, 1 bed flat, etc..) or it can be the average price for any property in a particular area. Of course these do not reflect anything of an importance whatsoever. They take no account, for example, of location, noise levels, relationship to anywhere else, condition of the property - all of the things that are actually important to people buying houses. The "average" price of anything is irrelevant. Its a trick. If youre buying a house above the average price you'll be told its because the market is rising - you should buy. If your buying below the average price you'll be told its a bargain - you should buy. The best one is the "national average house price". What a fookin joke.....
  8. sh!t, this guy outta talk to some of the bears here - "prices have been falling for 2 years"???? Financial editor of the Evening Standard contradicts the bears who say "its never gonna happen". I think hes trying a new tactic thus - "yes house prices have declined and now they've reached a lower plateau - so now's a good time to buy". Im not an Uber-bear 12%-15% is about right in my opinion....but it still has some way to go before we reach that point. These people should get their story straight - its either already happened or its never going to happen - anything except dealing with the fact that its happening now.
  9. no. There will be a big crunch on credit which will prevent an instant boom. This happened in the early 1990s. I know an investor who returned to the UK to buy a house in 1991. The house in london they wanted was only £65k (previously £100k+, distressed sale) , but no bank was willing to lend. As the banks are exposed to bad debts they will "retract their tentacles". The focus will be on making existing debts work, not exposing themselves to new risk. I understand the logic, and it may even happen in the short term, but remember this decline in HP is not happening in isolation (unemployment, taxes, oil prices, take-home pay etc.. etc..)
  10. fyi - the latest one I've seen is "Sale Agreed" but viewings still available. Figure that one out. My guess, since nothing is happening in the office, the bosses are occupying staff by getting them out to fiddle round with the signs. It is nothing more than an indication that the hucksters and spivs who dominate this market are on their knees.
  11. ehhh am I the only one to say "so what"? £75k, £95k, £1005k none of this means anything without knowing the price of the house in question. If it was £2 million and they dropped £75k its no big deal. If it was £100k and they dropped £25k thats a big deal. Appreciate the info - but do try to keep us fully appraised.....
  12. Dont Essex people have a reputation for being a bit...well...dim?
  13. Yeah, I think you got the message fatboy. Youre right about the jumping down throats bit, but people have been coming on this board for quite a while with similar stories. I think you angered people with the "No Slowdown" heading to your post. No slowdown in valuations, maybe. But there is a very real and very consistent drop in house prices and a large rise in stock levels. In summary, an estate agent needs no qualifications. I have no qualifications. I value your house at £200,000. See? It doesnt mean a damn thing.
  14. I will put up a link and the description from rightmove and will interpret it for you all - free of charge. Please feel free to do the same for your own area! http://www.rightmove.co.uk/viewdetails-399...pa_n=1&tr_t=buy "We are pleased to offer for sale this charming semi detached property with arguably one of the finest views in the area. We are embarrassed and not a little annoyed to have to put this price on a council house The accommodation is well maintained and beautifully presented to include a lounge with dual aspect, seperate dining room, breakfast kitchen. The house is still standing we painted it in 1996 and it has windows front and back. It has 3 rooms downstairs. We couldnt fit a table in the kitchen. While to the first floor there are three good sized bedrooms and a spacious family bathroom. The house has 3 bedrooms and a bathroom where you can shit and wash your hands at the same time (see photo) Alot of time and thought has resulted in a charming landscaped garden to the rear, with a delightful raised terrace from where the fabulous far reaching views can be enjoyed. An akwardly shaped rear garden has some plants that require attention 24 hours a day. If you want to see the countryside you have to stand on those MFI planks in the corner. The gardens are totally enclosed with attractive wooden bar gates to the front and side, making it ideal for families with young children. There are a lot of chavs living nearby - some of em might be paedos - so we put up some large fences. If you want to take in the views without the smell of pigshit, go upstairs and look out the window. An early viewing is essential so as not to miss this charming property in an idyllic location. Come and have a giggle at what the chavs think their house is worth
  15. Ffs - is this thread still going.... ....zzzzzzzzzzzzzzzzz
  16. Racism is ******. I confess I fall for the stereotypes every now and again - but we all have our weaknesses. I've often had one too many beers, y'know. The "immigrants" coming into this country are almost exclusively from the former british empire. The way I see it, the chickens are coming home to roost. Seems to me if "they" do the crappy jobs its all ok. Once they get an education (which the vast majority of little englanders turn their noses up at) and take up their responsibilities in this society they are the bad guys. If only the english were more like them. "everything was run by ethnic minorities and economic migrants" - What a crock of shite. Everything, you say? "Be careful of censoring people Andy, that's what the Nazis started doing and look where that led" ???ehh surely Censoring the Nazis would have prevented the problem in the first place. The prophecy of the fox, an old english poem states "The manly blood of England In weaker veins shall run." A nation who pisses away its agriculture, its heavy industry, pollutes its own food supply, throws away its education system and above all points the finger at someone, anyone else (EU, Immigrants, government..blah blah blah etc etc) deserves everything it gets. Swallow yer medicine England. This is crash is about more than just house prices.....
  17. My opinion, nothing else, 1 - SIPPs are not relevant. Most people know nothing about them. IF they peaked at 5% of the market I'd be very surprised. 2 - dont know. 3 - I am an LL. Average unlet time (per annum) is about 6 weeks. I havent found rents coming down, thats not to say they havent, mind. Length of lets has increased. I have some great tenants, young uns looking for a break. I dont rip em off - I was there once. While I believe there should be a drop in property prices, and I also see it happening it will not be all that severe without outside an outside trigger. That trigger will be oil.
  18. please type the rest!!!! PLEASE. (you could scan it if u have a scanner!!) Brilliant article more more more your efforts are greatly appreciated!
  19. Am I right in thinking that one of the advantages of higher UK rates is that there is room to reduce them? Surely in EuroZone and US rates are so low there cant be room for further cuts? Are we going to see a long Japanese-style decline in western economies?
  20. Dont forget our wonderful market in Ireland. The legendary "luck of the Irish" is due for a severe kicking too. The one advantage of being in the UK is higher interest rates. In the EuroZone and US rates are too low to allow any reduction. At least in UK there is room for manouvre.
  21. do keep us updated - I am seeing the same thing.
  22. ok - moved to S Manchester last May. Been looking for a place since then. Prices shot up just to spite me in the summer but now...now its VERY different. Some of the houses on the market last summer are STILL ON THE MARKET. However the keener witted folk (like a local property developer) sniffed the wind, dropped the price in a big way and got out before they went bust. One house (the developers') was on the market for £375k went for £315. Thats a 16% drop......and that was in October. I too am seeing a lot of "new price" banners and the EA's are ringing me up!!!!!! When an EA calls you to advise of a new property you KNOW its time to stay the hell out of the market. Thats my tuppence worth
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