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About Pi88edoffoftunbridgewells

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  1. It is not surprising that legislation encourages HPI. As an occupation MPs seem to have a far greater exposure to property speculation than almost any other that I have heard of (excluding the obvious such as property speculators etc). Take a look at this latest gem from today Sunday Times. If its true then it is yet another damming indictment of how poorly our MP's are serving us . A LABOUR peer who lives in the East End of London has claimed about £100,000 in parliamentary expenses on a flat in Kent that neighbours say has been unoccupied for years. Baroness Uddin, who worked closely with Tony and Cherie Blair, has been claiming allowances intended for peers living outside London although she resides only four miles from the Lords. Inquiries by The Sunday Times have established that the baroness bought a two-bedroom flat in Maidstone in 2005 and has named it as her main home to claim almost £30,000 a year in accommodation expenses from the House of Lords. Residents from the five other flats in the same block as Uddin’s property all say they have never seen her there. They could see through the windows that the bedrooms were unfurnished.
  2. All so often I have read threads that highlight the issue of “sellers refusing to accept the reality of the HPC” and “sellers chasing the market down”. I've also seen a great deal in the press about how ‘x’million are facing negative equity’ Whilst browsing the Rightmove site in conjunction with PropertyBee (genius little browser add-in that it is) I am struck at how so many houses have been on the market for almost a year but have hardly been reduced in price. None of this makes sense since logic dictates that most sellers would be happy to heavily discount for a quick sale so as to trade up whist enjoying at a similar discount. I would like to get your views: a) Are the vendors stupid and refusing to accept that the market has changed (perhaps forever)? Are they badly advised by their advisors (the estate agents) c) Is it that very few of them have any real wealth and therefore cannot afford a 10% deposit on their next dwelling if they reduce their current property by more than a couple of percent? d) Other ideas? ;-)
  3. Similar in the Telegraph: http://www.telegraph.co.uk/finance/economi...5-per-cent.html Quote< People who bought buy-to-let flats are expected to “begin panic selling” and the average home value could drop below £100,000. The predictions in a 298-page report from Numis Securities, a City investment bank, are the bleakest yet on the deteriorating state of the British property market. House prices have already fallen by about 20 per cent over the past year. However, in the note written last month, Numis said: “Despite UK house prices already having fallen 21% from the peak, we do not believe that the correction is anywhere near over. “Our core headline forecast is that UK property prices remain between 17% and 39% overvalued based on fair valuation. Moreover, history has shown us that when property…which has experienced a price bubble corrects, the price tends to fall below fair value for a period of time, as confidence in that market remains low. Prices could fall a further 40-55% if the over-correction was as bad as the early 1990s in our view.”
  4. I like this "premium listing" Wed Mar 11 22:56:50 2009 * Price changed: from '£425,000' to '£399,950' * Status changed: from 'Available' to 'New Price' Fri Dec 5 19:06:29 2008 * Status changed: from 'New price' to 'Available' [Found by southlodge] * Subtitle changed: 3 bedroom semi-detached house [Found by southlodge] Fri Nov 7 13:57:52 2008 * Price changed: from '£439,950' to '£425,000' [Found by southlodge] * Status changed: from 'Open to Offers' to 'New price' [Found by southlodge] Fri Oct 17 17:49:59 2008 * Status changed: from 'Viewing Advised' to 'Open to Offers' [Found by bearfood] Sun Oct 5 22:04:12 2008 * Status changed: from 'Available' to 'Viewing Advised' [Found by RSHayre] Fri Sep 19 19:12:43 2008 * Initial entry found. [Found by deehamps] Details at: http://www.rightmove.co.uk/property-for-sa...es%26index%3D20
  5. Hi Kman, I don't want to appear rude but...... being evasive regarding giving a location for this 'pot of gold' that your 'friend' has invested in makes you look a little trollish.
  6. Yes! http://www.marketingmagazine.co.uk/news/88...administration/ Quote: The Observer Standard Newspaper group, the regional publisher of free newspapers, is searching for a buyer after it has fallen in to administration. The company publishes newspapers in Warwickshire, Worcestershire and the West Midlands. It also publishes online news sites and local magazines. A spokesman for the group said it has been suffering from the decline in advertising in the region, particularly residential property advertising. Local newspapers = Spin, vested interest
  7. Snip <The house prices here are insane, and haven't really fallen by much at all. The only reasonably-ish priced places are in bad areas. Average house price here is like £180,000-£200,000. > A quick search on rightmove shows over seventy (70) 3 bed houses priced at less then £170,000 and most (according to propertybee) have been reduced. Ive attached an example below. Assuming that the vendors will take offers at an additional 10% off, I would not think that you would have any problem finding something at around £150,000. Sat Feb 21 12:18:47 2009 * Price changed: from 'Offers in Region of £145,000' to 'Offers in Region of £129,950' [Found by suboptimal] * Subtitle changed: from '3 bedroom terraced' to '3 bedroom terraced house ' [Found by suboptimal] Tue Jun 3 19:32:35 2008 * Price changed: from '£155,000' to 'Offers in Region of £145,000' [Found by torkop] Wed Apr 9 15:49:07 2008 * Initial entry found. [Found by nawteez]
  8. Hi Grills, Could you mention which town/city or postcode you are talking about when you say that most good quality houses are going for 15% less than peak?
  9. Sorry but your points (those that can be checked) do not appear to be correct. Ive done a quick check of the rightmove web site; It lists 230 two bed properties for rent. The most expensive is at £995, the cheapest had its price reduced at the end of feb to £380. The average (£690) seems to be a lot lower then you suggested. Furthermore, a quick scan with propertybee highlights that approx 20% of the flats have recently reduced their asking rent by £300-500 per annum
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