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House Price Crash Forum

xyz

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Everything posted by xyz

  1. It looks like the house of cards is on the brink of collapse. Too many bearish articles and the UK consumer will disappear, high street and government spending will fall, and then what? I fear this will be rather painful for all of us over the next few years...
  2. Cleaner at work MEWd for a mercedes coupe thing - had it vandalized on her ex-council estate though
  3. Incredible. Do you have any data about whether this is right across the market or is it just high price properties? (Mind you at 40% there can't be many price bands unaffected)
  4. Might be worthwhile - last time there were DEFINITE press drops in Aberdeen (late 80s - was there, have T-shirt). Unfortunately, the majority of the Scots here are focused on the Edinburgh market so you may have to keep the data yourself. I keep tracks on NE Fife/ St Andrews and things were looking good (crashwise) until the last week when sales have shot up and prices have started to rise again. :angry:
  5. What can I say??? Not sure this reflects what I've observed on the ground. Still probably only to be expected that there won't be a smooth fall. Nice for Tony just before the election though
  6. It must be tough for some of these FTBs - the market is a tough call right now. More properties for sale - more and more at prices that seem reasonable compared to recent madness. If, as I believe, a crash is certain they will be stuck with high mortgages against a falling asset. It's all very well to sit here and slag them off but just look at what they are fed from the media - several years of how everyone is £X000 per month "richer" due to price rises and a repetitive chant from teh VIs now that "There won't be a crash". This could really affect their future for some time to come and personally I feel just a little bit sorry for them
  7. And what is a "prospective house buyer"? I'm registered with a few estate agents so that I can exactly what I would get for my money ..... if I was prepared to buy. Just how many of these "propspective house buyers" are actually just nosey b***ers like me?
  8. Wow! I often think people underestimate how much you save in repairs/ upgrades of the property by renting. I know my sister is always on about repapering the kitchen, new floor in the bathroom, etc. Meanwhile my landlord just did a several £K repair on the roof whilst his nice STR tenants (us) only payed out a few pounds giving the builders a few cups of tea...
  9. But if inflation continues to rise but HPs and consumer spending continue to fall, what then for the MPC?
  10. Indeed, dropping a 1% tax was bound to make all the difference - houses are positively cheap now!
  11. I agree. Nethouseprices has been interesting, it seems that it is not uncommon now to offer either 1. the asking price for o/o properties 2. below a fixed price Once that mentality is even more widespread the only way is down...
  12. We recently had a leaflet delivered in our area claiming that 10% of the properties in St Andrews are student let. If you add on properties like ours (where we rent not own) which are rented to non-students plus holidat lets and the low proportion of property turn over, you could safely say that the majority of recent sales have been BTL. And after good Prices Wills leaves, student number sare down next year.....
  13. Whilst we all watch our jobs go down the pan...
  14. I think Remax might be selling it fvor £85K but don't know how to do the link
  15. Is it still for sale? Where CAN I get a house with no bathroom anywhere near the bedrooms and no toilet anywhere near the bath for a mere £15K over the lowest valuation
  16. House in our village registered on Nethouseprices as having sold for £245K in January. Back on the market with magnolia paint and a new central heating system for (ie developed)...£315K (offers over). That's one hell of a set of radiators...
  17. Maybe, and I do hope you are right, but I think we need to see the Q2 data to be certain that there was no more that a tiny blip of a spring bounce. My gut feeling is that the Q2 data will be similar to Q1 with more significant and widespread falls coming later in the year. Here the average house price remains around £175K and the number of properties coming onto the market is around 35-45 per week as it always has been. However, the number of properties for sale has risen 65% since January implying that sales just aren't happening even though we are in peak season....
  18. Took a close look at the ESPC figures and there does seem to be an increase between Q4 2003 and Q1 2005 in some areas that were already falling. Much as I am bearish can we reasonably hope that this is dead cat bounce and not the start of another rise?
  19. When my house was earning more than me and my partner combined I figured all was not well! Had to sell as moving jobs, came to new area and realised everyone thought £250000 was small change and a reasonable price for a 2 bed flat with students as your neighbours. Inadvertently became STR after being outbid on a cottage, found this site, did my own independent investigations of previous price trends, debts, etc.. Became afraid, cleared all outstanding debts and became a saver!
  20. And I thought property prices NEVER fell in Scotland ...
  21. What will happen is that the new lender will increase the size of the debt to cover any early redemption penalty. Thus you owe more and have possibly wiped out quite a lot of the savings made on the previous 2 year cheap deal...
  22. Not surprising at all - here in St Andrews house prices are 3x what they were in 1998 (thanks to huge amount of BTL) and it's just no longer affordable. Amused to see the GSPC guy predict on-going high single figure rises. I don't think so...
  23. My other half is a head teacher so should be reasonably secure in a recession - myself not so. These exact points that you mention have been worrying me for a bit and so we have just sat down (about 2 months ago) and tried to see where we can make further savings so we can comfortably continue our STR stance on 1 salary. I feel very protective of my "equity pot" acheived from STRing and don't want to dip into it. However, I also fear inflation which would devalue this money in the bank.
  24. And the interesting thing is how many fixed price properties are fixed at or just over the original "offers over" price. What happened to 30% over?!!!!
  25. Market around St Andrews remains slow in my opinion. There are now 419 properties for sale against 319 3 months ago. But prices seem to be creeping up so people are still convinced they can get more that people did in the same street last year. BTL figures aren't stacking up here either. House in town sold for £395000 (nethouseprices) and is up for rent at £1400pcm. Must be banking on capital appreciation. Can't see any other reason.
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