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House Price Crash Forum

RLHOUSE

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About RLHOUSE

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  1. ...and rents are going down too! http://news.bbc.co.uk/1/hi/business/7910329.stm
  2. I used to the to think the reason the government wanting to keep house prices high was purely popularist, ie pandering to house owning voters. Now, I think its purely down to the fact that the government cant afford for house prices to keep falling. As we now own the banks, when people default on their mortgages it is is the state losing money rather than the banks. The greater the negative equity and defaulting, the more liable the state is and the more the banks will have to be bailed out.
  3. Seen a few from this series... Is it me, or does the couple never seem to end up buying a property? even when they want to buy 2! hmmmm, i wonder why phils business went under?
  4. Have noticed a significant increase in number of sales in my area (SE London) in the last few weeks compared to virtually nothing moving in the last 3 months of last year. No idea what prices these are going at though. Hopefully this is the early blip in the year that many on this site predicted. With all the bad news about I find it hard to believe that this is the bottom of the market! Febuarys NW/HBOS stats should be intersting. Any guesses? My guess is that they will be pretty flat.
  5. I know lot 48 (It was unsold today- highest bid was 145k). Went to view some of these flats a few years back. The peak price is listed at £280,836 which is just nonsense. These flats were always around the 180/190 mark at peak. a couple broke 200k. Im suprised 145k wasn't accepted, at that price its not really the bargain you would expect to get at auction.
  6. its the price it sells for that counts not the asking price. An exception is rightmove index which uses asking prices, which makes it a bit pointless really.
  7. A bit strange that they reduced by 70k within 2 days of listing it. A marketing ploy probably to say that it already had been reduced when people looked at it!
  8. you got to feel sorry for their tennant that they are living with!
  9. Anybody looked to see if the houses are still on market?
  10. When I come to buy, I was thinking of getting something that required some work. I am thinking along the lines of something that requires complete refurbishment (new kitchen, bathroom, poss new electrics, plumbing, redecorat etc) but not pulling walls downs or adding rooms etc. Although I guess it all depends on the property (300-400k terrcaed 2/3 bed victorian house was type of thing I was thinking) is there a typical discount you could expect off an equivalent 'finished' property? I was thinking 20% discount was around the mark. got me thinking though, that in the current climate that the margin would likely increase as all of the 'Sarah Beeney' types will be taking a 2/3 year sabatical, as the profits they previously made would be swallowed up by the falling market by the time the project was finished. Personally, I am not actually looking to sell on for a profit, just somewhere to live. Would appreciate any comments.
  11. I would tend to agree with most of the rest of the thread. I dont think £ has much futher to drop. I think the drop was overdone.
  12. With the pound getting weaker and weaker, Do you guys think that it could limit further house price falls? If house prices do drop by 30% (peak to trough) & there has already been a 30% fall in value of pound against Euro. That would make a 50% fall in value (in euros) of british houses. I can see that foreign investors (from India, Middle east, China, Eurpoe & Russia) will increasingly be buying property here and therfore limit the extent to which house prices will fall further. I think this will be the main factor preventing any falls from being significantly more than 30% (in sterling). Any thoughts? Personally, I am hoping that futher interest rates falls will be limited to stop the pound getting too weak for this reason.
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