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About rentedroof

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  1. I have the same suspicions. I monitor Teddington very heavily and using either the HousePriceSpy or OurProperty LR based sites, can find almost no evidence of any decent sized transactions since last summer (post Lehmans basically) I suspect many vendors lose heart when the chain disintegrates and stay off the market for a while waiting for the fabled pick up in prices. Either that or try to rent out. My neighbour 5 doors down has just 'sold' his 3 bed semi for about £200k less than he first asked for it a year ago, if that goes through it will be the first house to sell within 500 yards of me this year!
  2. I don't understand the overall negative reaction to this programme on this site, I've been very pleasantly surprised at the level of balance shown. Forget the various dimwitted comments from those contributors who see a profit from property as their civil right, so far they've given good coverage to some of the HPC's most crucial and undeniable aspects that have been largely ignored by Bigmedia . So far there's been an item on a family who've 'lost' £60k on their Wokingham 3 bedder but have got their 4 bed 'character' semi for £100k less than they would have 2 years ago, that's £40k less borrowed from the banks - result. (Lower prices increases mobility) A very bearish report from Welsh EAs who I thought were pretty honest saying "buyers have to be realistic" - no nonsense about it being the fault of lenders not lending enough. Tonight a piece about an STR who's living it up beyond his means in Chelsea thanks to low rents (positive for renting) The conclusion from the NI report was that stubborn sellers and buyers are to blame for the lack of market activity - if everybody just got real they could all get on with. Merryn SW acts as a constant correction to any over bullish comments, in fact I'd say in general the commentators have been realistic, even the big old girl from Savills. Not once has the idea of rising house prices been alluded to as 'good news' - surely one of the media's most irresponsible aberrations? In fact they produced good research showing it was mostly over 50s who expressed this view, and far less others. The producers even had Kate Silverton saying "a house is only worth what someone is prepared to pay for it" - off the autocue of course, she's not capable of hypothetical theorising. Yeah there's loads of dumb graphics and generallly over bouncy breakfast TV glibbness, but overall I'm happy with it. Embrace it, this is high penetration propaganda that will burrow deep into the psyches of Britain's most stubborn price crash refuseniks. House price deflation is pretty meaningless to people like me who do want to buy at some point in the near future if there's hardly any sales going through. Any one who expected more than this is way out of touch. This HPC is going to be long and from now, on a slow one, and I think this series will wake a few people up, get a few more price reductions out there and help it along a little.
  3. I am on of those (non lycra clad in my case) menaces Mrs Bear but i feel your pain. That track around the park is the only unpaved path us bikies are allowed on by the Royal Parks lot, pedestrians have the run of all of the rest of the park! I take your point about using the road but it's just so damn dull. I tend to stay off the track at busy times as it's so popular and crowded and I take no pleasure in frightening folks out for a stroll - but I certainly do make allowances - I have the scars to prove it, I also agree it's only a matter of time there's a nasty prang - but it won't be my fault! I've been thinking of starting a campaign for a parallel bike only track, at the end of the day Richmond Park is simply a victim of it's own success. peace!
  4. Nice one, very true and made me laugh out loud - there, I wrote it in full! I was always frustrated by the less than generous World Cinema section in BB. There was me, having braved the McRubbish strewn carpark and skirted around those boney nosed chaps in hoods who lived outside KFC, only to find my evening plans to watch some smouldering French actress not say or move much for 90 odd minutes would be unfulfilled. So, yes, Blockbuster deserves it's place on the scrapheap but it could have been different. If only they had had thoughtful, relevant films like this to rent: L'Appartement de Dorme - A young city couple who wish to relocate to an idyllic country life are the victims of an intricate conspiracy carried out by a shady, but incredibly powerful underground organisation Les Interestes de Vestements, who manage to convince the innocent couple that their dingy apartment on a busy main road is worth more than a man can earn in half a lifetime, their profits will be tres grande! Excitedly they stay at home all day, everyday and wait for the eager buyers flock to their stunningly presented and surprisingly spacious digs (it's got French windows - naturellement). They wait and they wait but nothing happens (this is the long slow bit in the middle) 3 years later, having chased the market down and now with a price a man can earn in a few years, they sell it for no profit at all, but do buy their perfect (ex holiday home) country idyll, also for a knockdown price and so don't need to borrow so much money. They would have lived happily ever after but she found out about his torrid affair (that's what keeps you interested in the slow middle bit) with a (much) older (EA) woman and kills everyone with a shotgun in a short burst of shocking violence. The house is seen selling at auction for even less as the credits roll. Oh sorry, I've spoilt the end. It's obvious how it all ends though isn't it?
  5. Yep. I've been told via an "inside source" i.e. an EA PR, that all the main agents in the Cotswold area held a pow wow before Xmas and planned out a major price ramping assault for the spring. I guess manipulating asking prices immediately before registering a sale would count as exactly that and probably doesn't break any codes of conduct or what ever they call them. I've just had a rushed out Dexters letter drop land on my mat boasting of a local sale - albeit at least 25% below peak. I've started keeping my own archives of local property searches so that I can check them against Land Registry prices when they eventually surface. I don't trust anyone anymore. There is still a lot of eager cash out there and this country is far from out of love with the property ladder illusion. I think the EAs will have some joy before the downward momentum begins again.
  6. The evidence is everywhere: I spoke to an old friend today who's just been struggling to sell his 3 bed semi in rural mid Wales before emigrating to Oz next week. He said "they say prices are down 15% but if you have to sell like we did, then we had to drop 30% to get a sale, I can see prices dropping 50%" I agree with that prediction now. It seems more and more common, this feeling of "that's it we've got the 30% discount we were hoping for, let's not get greedy - this is now the time for me to buy" - I've been renting 18 months and am unhappy with it because it's now become horribly expensive with the very poor interest returns on the waiting deposit, having said that, to go out and buy an asset that will be losing, in my case, between £500 and £1000 a week, for at least the next year, is totally unacceptable. As for not being bothered about getting the last 5% off, well fine, but that could easily end up being 15%, we're only 15 months into this crash, possibly not even half way! I'm going to carry on renting.
  7. I have the occasional pleasure of seeing this little emblem of misjudgment from my tube train window as I trundle past on my way to work. It's in an unbelievably grim spot with the afore mentioned tube/train line 200m to the East, 6 lanes of elevated and relentless M4 not much more than 100m to the North (that'll be the handy "easy car access links" then) and is generally surrounded by what looks like a pretty grim pocket LA estate. Chiswick village, my **** - all credit to Foxtons for the photography though - very creative - not that they've got anything else to do. This is amateur development in all it's fading glory. IMO They'll never get more than £700k for it, and even then you'd be mad to buy (not that that ever stopped anybody). Perhaps more interesting though, were the couple themselves...very strange dynamic there. Property Ladder at it's best.
  8. Nice work , and not at all a mistake to be the bearer of a much needed dollop of reality. I'm sure that if all viewings were conducted by the vendors who then heard from the horses mouth an actual offer (albeit one that crushes what's left of their equity illusions) we could all start buying and selling again. May be they themselves could go to the seller of the house they want to buy and get 30% off, in most cases we would all end up borrowing less from the banks and therefore better off week in week out. Keep up the updates, it's lonely work sometimes but I think the New Year will bring even more drama in the HPC than this one gone
  9. I don't know Surbiton well but do know what's been happening in the Teddington area: True, there isn't 'blood on the streets' yet, but the knives are definitely being sharpened. I've been keeping my eye on the Broom Park estate near Hampton Wick, as these town house things offer a lot more Square footage per £ than older stuff - rubbish gardens tho' . This place has been on the market for a while and is not shifting, it's similar to the Grove Road place mentioned earlier but not refurbed recently. Places on this estate were priced up to £600k until recently and have sold at peak close to that. Generally, around here, I think the prices are now nose diving and are currently 'asking at 2005 levels. Teddington is different from Surbiton/Kingston as it's more family orientated and has a less transient populace and you'd think therefore prices would hold up better, my close following of the Teddington market tells me people pricing to sell are knocking at least 20% off peak if not more - and still struggling to get a bite, even with a nice house like this - down from nearly £900k in a 'river road' My monthly email from the ourproperty boys tells me almost no houses have sold at all in the last 6 months (apart from a few suspicious ones which never appeared on the web) in the square mile around me. I've absolutely no idea how the 7 or 8 "deceptively spacious" EA branches up and down the local high street keep going. I've got a decent deposit and am getting hammered by high rent and increasingly pitiful interest earnings but I'm not buying for another year, I reckon that'll be another £50k - £100k saved!
  10. I think Phil Spencers offers on LLL were not exactly cheeky but simply tracking the market, and as he said, using the neighbouring, very similar house that had sold 4 months earlier, as a guide . He simply knocked another 10% off what that went for. Very telling that the prospective buyers were agog at this obvious gambit. No commodity or asset is usually traded at it's future likely value, but at it's current value - i.e. stocks and shares. As far as I'm concerned a CHEEKY OFFER is one that takes into account further drops beyond the likely date of exchange and therefore any vendor is underselling their property accepting this....but if you are a cash buyer and can move fast then it's open season - or will be very soon. Happy hunting.
  11. Right on. The significance of the LLL Crash special seems to have been inexplicably overlooked on this site. Here were the public faces of the property inflation bubble basically throwing the towel in. I'm a TV producer/director and I sensed a very odd tone to this programme, as if it didn't know which way to turn. Spencer and Allsop also put in very low key performances, almost like they knew this was the end for them. Fair play to Phil though, he certainly stuck in a few cheeky offers! I can see the scales falling from square eyes across the country.
  12. Hmmm, granted nowhere inside the M25 is perfect but...6 trains an hour to Waterloo that take about 35', some aircraft noise - when there's an easterly (like virtually all of SW London), and I'll take smug YMs over 16 stone knuckle dragging breeding machines any day. As for dog sh!t, pray tell, where is this valhalla that our 4 legged friends haven't thoroughly riven with their noxious excretions? The trains are fine, and anyway my cycle to work takes me through Richmond park or up the river...not bad. The yummy mummys have gone a bit quiet over just how much they've "made" on their shoeboxes and when I have time I will be taking direct action regarding the dog sh!t and it's sources.... I can only pray they don't build the dreaded third runway.
  13. Having spent 18 months neurotically monitoring TW11s low key HPC, recent listings are starting to show real progress in the (personally and utterly selfishly, warmly welcomed) downwards direction best typified by this listing Nice house in TW11 which is a house very near where I'm renting at the mo'. Described by local EAs as being in the "ever desirable river roads" it does indeed look like a very presentable gaff and with a 27% drop in asking from £875k to £635k, is easily the most stark example of the HPC making itself felt in areas populated by others than those with serious economic issues. It seems the simple fact is, no one wants to buy a depreciating asset , if you want to sell the price has to come waaaayyyyyy down.
  14. HiYall Been lurking for a couple of years, STR'd June '07. expected HPC but never thought it would be like this! I don't know anyone else who STR'd but do know a few who bought at the top. My new found sage like qualities have been honoured with knicknames such as "the Diceman" from admiring friends. I just hope things keep panning out - and fast, as I'm sick of renting already. Looking to buy in 12 - 18 months - in Teddington SW London - expensive with very few distressed sales so far, but I can feel them coming - in my bones!!!
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