Catch22

End town house Two bedrooms plus conservatory Central heating and double glazing White bathroom suite with spa bath Landscaped garden enjoying privacy Allocated parking spaces 27 The Close, Skipton, 2 bedrooms offers in the region £145,000 UNDER OFFER This was sold for 142K recorded @ HM Land Registary on 15th December 2004. Be interesting to see if this goes to completion and at what price. Taking fees into consideration and Stamp duty paid on purchase it looks like it will be a no profit sale.

It's come around again, Fridays local paper day, and on the front page of the property section we have a centre page new build up market development [new offer not updated on agents web page as of yet] 5% deposit paid, Stamp duty paid, Legal fees paid Plus part exchange available Next to this advert is one for 5 new "superior" Mews homes in another village. Two have had sold stickers on them for months and months. But I know them well [on the road that led to our house prior to us selling it in March] and suspect the sold stickers are just a ploy. Same village same paper, under the "Letting section" And not under a builders banner, just a mobile number to ring. New three bed two bath town houses available immediately. Central location with private courtyard parking £595 pcm Another local building firm struggling to sell their mill conversion apartments and new build canal side town houses. Slowly but surely this market is unraveling, and it will be led as usual by builders wanting to off load stock. They have lived high on the hog these past few years, but they know a crumbling market when it smacks them across the face like a wet smelly kipper.

keep up the postings, I and most I suspect appreciate informative reports from peeps from within the industry. I'm interested in neither bull or bear adulation rants, whats actually happening on the ground is what I'm interested in.

Reminds me of a couple of wrinkly yanks on holiday in Egypt, they had just arrived from Jeruselam. They were sitting at the next table to us in the Luxor Hilton. I asked them if they had been on the Nile yet? The old man said they had a meal on a boat last night, he then turned to his Wife and said......was it the Nile honey ?

nice one Fred, well said that man

Speaking to an Estate Agent/Surveyor today during a valuation I sat in on. He admitted that if the market did not correct after this last boom, it would be the first time ever that had happened. And he doubted that much vaunted scenario would in reality happen. And whilst trying to be positive re the market, he did admit it was in for a few hard years [3 to 4 in his opinion] And that if vendors did not wake up to the reality of the current market they will not get a sale and be forever chasing the market down. Up shot of the valuation was, he came in at 190 to 195k whilst the vendor had what they thought was a quick sale expectation of 220K. He knew he would be up against other valuations, but he was adamant over 200K would kill it. And he urged that it was put to the market ASP with whoever.....says it all really.

Considering the thisismoney.co.uk article Economy 'on brink' as pound braces for fall would converting your GBP's to Euro's and depositing it in an account like This make sense, assuming you prepared to take the currency fluctuations gamble. Lets say for arguments sake you have 200K GBP waiting to be invested in the UK housing market, and you believe it is headed downwards, so no need for the cash for a year or two. And considering the pound is on the silde as per the linked article. £200K at todays X rate to the Euro [69P] would be 290,00 Euros @ 2% interest is 295800 Euros in twelve months time. Now if the pound slides and in a years time you get 76p for the Euro, its worth £224,808 and at 82P to the Euro it would be £242,556. I don't know the likely commission rates for converting GBP's into Euros and back to GBP for any house purchase. I fact Im clueless in that regard so I would be interested to hear from those clued up in these currency matters.

alright Dave

I'm also a confirmed bear regards the housing market, I have put my money where my mouth is and are STR'ing since end of last month. And I totally agree with the above comments. There are enough VI's out there calling this site a home for loons, and stupid one liners can only re enforce that view. If the poster comes over as an out and out prat fair do's but otherwise use a bit of savvy. FF is reporting what he is seeing on the ground.....you know people where buying the tech stocks at their peak prior the collapse.....so don't let your frustrations get the better of you. This market is going where this market is going, and venting your spleen will not make it alter course or happen any faster. Work out your exit strategy, place your bets and leave your emotions out of it. By the way my first name is also James, so there you have it...confirmation I must be a VI mole.

Love it

To a degree your right....some do indeed hope...hope to be able to put a roof over their famlies heads at an affordable price. But to tar them as the possible instigators of a reccession is pure lunacy...its this house market poker game that is to blame....a poker game introduced by the government of the day in cahoots with the money lenders to get the City [stock markets] of the hook.

Says it all really

I really get p*ssed off at the naivety of some posters using this turn of phrase. Look let me try and explain, when a weather forecaster interprets what he sees coming in the weather charts. His interpetation is not a "hope" it is an expectation of what he sees the weather doing in the future. And anybody who thinks hoping one way or the other will change the path of a whirlwind is barmy. It's a bit Harry Enfield.....is that what you want ? because thats what 'll happen What is really madness is the fact that peoples greed has pushed up house prices to twice their historic value, and thereby priced them out of the reach of those in society who are expected to parent the next generation. An economy who's foundations are built on nought but a pyramid house purchasing scheme, now that's MADNESS.

Skipton, Ilkley, Keighley triangle......more and more new properties coming onto the market. Also seeing lot of properties which for months had SSTC stickers on them, now up for open sale again. Rising numbers of properties coming onto the market, along with collapsing agreed sales speaks volumes to me, but you can make of it what you will.

I totally agree, it's really annoying being supplied with information that amounts to nothing in an analytical sense. No offence ment tabby but "information is king" so make sure you post all relevent info. Anyway may I extend a sincere welcome to the forum, and keep posting.

Yep well done Gruff

Latest

I wonder if kirsty will accuse the Economist of being party to "insider trading" for having a link to HPC.com on their web site...............it would suggest they think more of the data found here than that which she babbles on about Apologises for shouting but her stupidity and ignorance really winds me up...OK I'm not taking in by it, but there will be thousands of people who followed her advice who's lives will be ruined by listening to her

"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Arthur Schopenhauer (1788-1860) I reckon the "Homes" forum on C4 are at "Deathcon 2"

"The optimist proclaims that we live in the best of all possible worlds, and the pessimist fears this is true." - James Branch Cabell

t@sser

Bit of info regards some of my wife's work colleagues: Young guy in her office has been left some money by deceased grandfather. Enough for a deposit, good job because like most young folk these days he and his girlfriend only have debt, not savings. Anyway looked at 3 bed ex-council house in a village 'twixt" Skipton and Keighley, on at £135. Told agent they could only go to 105K, agent rings back and says the vendor will accept 105K. He likes it, she doesn't so who knows what will happen, I'll try and keep the board informed. Another work colleagues mother and father are putting their house up with a local agent, again a 3 bed ex-council house [ small town twixt Skipton and Keighley] No central heating, shoud imagine its old fashioned but well cared for. Advised to put it on at 125K to sell at 115K, her mum and dad are not happy at the valuation or the expected selling price. Comment: 135K vendor after having been on the market a fair bit, now had his illusions regards his properties perceived value well and truly shattered. Agents pricing new entrants to reflect a market in retreat. New vendors now getting the illusions shattered from the off. VI's in the media create these illusions, but the Agents [going hungry] are having to teach vendors to face up to the reality of a market in retreat. By the way the wife does not impart our views on the market to her work mates. One of the reasons being most people take in the VI view, and would look on her as an idiot, or just plain jealous !!!!!!! So its quite interesting to see the market panning out without it being "tainted" by that malicious site HPC

Its a wind up Right?

Like has already been mentioned the BBC do change headlines. But in any case citing the source enables any body to check the content. And I personally think your being over picky The facts are, it is the BBC who in cahoots with the government spins the reality. Which is month after month after month after month after month after month after month after month after month after month after month after month house prices have been going down. Everybody worth their salt knows were this market is going, they just don't want everybody heading for the exits at the same time. Remember Bush going on TV to steady the market after it pulled back from its peak of 11750 [DOW] He likened the market to a long distance runner "it had come a long way and was just having a rest" Well it rested alright 30 months from it's peak it hit 7200 a drop of 39%. HPC with its 14 Sell to Renters will not affect this market, you know that and we know that. We are merely providing another perspective to a highly spun and manipulated market, yet we are cast as the "Evil Doers" WHATEVER

You did not answer if they were in rented or not ? If your worried about them dropping the price eve of exchange, I'd call their bluffif it happened. There will be many reasons why they picked your house, they like it, its 35K cheaper than same type houses, the area the schools. Look the Wife will be sold on it, they will not want to loose it, what with school changes being put back if they swap and change. Belive me I know you tend to think the worse, but worrying will change nothing mate. Like I say push for an early completion, sooner they are asked to "step up to the plate the better" Good luck C22