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House Price Crash Forum


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About surreybased

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  1. It is truly shocking - We have 2 children, because we can't afford the cost or time or energy it takes to raise more children. I fear for the children, I doubt their parents care about each of them individually. There is no way they can give the children the time and effort they need..so I guess the state will be picking up the education and social services bill as well as these children grow up. On another site there is a post from a mum who has loads of equity in the family home (thanks to crazy HPI!) so wants to buy a place for her single mum daughter, who's on benefits, to rent out..So the tax payer pays for the BTL, can't see how any other country would allow this - surely the daughter should be at home with the parents...rather than us having to pay for the BTL!! Will any polictical party actually make a change to this...sadly I don't this so
  2. Similar views here - after a manic few months the market has gone strangely quiet. The stupidly priced houses aren't going under offer in a few weeks. A number of places are back on the market (after sstc) and the number of listings has increased. Seems to have turned very, very quickly..it could be a pause but we'll see.....
  3. I remember waiting for the results a few years ago, good luck and hope you get the result you want. (my son got the local primary school we wanted but due to high house prices locally we're having to move out of the area so either we have to commute to get to school or change schools for him..the current boom in prices has really come at a bad time for us)
  4. I also monitor Farnham. Lots of properties do seem to be coming on for the 300k range in the North area so I think that will have the impact of lowing prices. A few of the £900k places in the south are not selling but there is a shortage of those inbetween that price. Some really deluded sellers out there - one example, 4 beds, not a large plot, £725k..obviously no one looking as EA mailing out about 'the property just to the market' when it's been on weeks. It's a silly price - no one is viewing. There is total greed with some sellers, EA told us that one couple agreed a sale but then broke the deal just before exchange as 'house prices rising so fast in 2 months' they want to re market it for £40k higher. £40k in 2 months!!
  5. I deparately wish it was the same for us - we did have that situation about a year ago but since then the market has changed, can't figure out why.One EA in the area even said he thought the market was too hot as it doesn't stack up with the bad economic news, GA around the corner, IRs likely to rise.Some EAs are valuing at stupid levels just to get the instruction but those places do hang around. There are 3 places that have been on for a year and the deluded sellers haven't dropped the price but anything half decent, typically a family sized house sells quickly. In our area we seem to get a spill over from London so perhaps that a factor. A colleague is looking to buy - he's in St Albans and on a great salary so he could buy but he just can't bring himself to do so as the prices feel so unreal (guess it's relative as he's orginally from the north). I'm hoping this is the 'return to normal' phase before the leg down..I keep thinking of the property situation in Ireland, everyone was a property speculator, it was price rises all the time but it turned downwards pretty quickly.
  6. I'm seeing the same thing - complete rush for properties, we saw a property this week that said 'vendors keen to sell and will accept realistic offers', they have now been indated with offers from proceedable (cash/no chain) buyers so it's gone for just above asking price. Seems there are alot of buyers around with cash or very low ltv (who have made money in the property madness of recent years) that are able to bid. The FTBs are managing if they have mum & dad deposits so there is movement in the market. Cant see a slow down yet, despite mortgage restrictions and the negative economic news
  7. We also have the madness in our area, houses are having 20 viewings and multiple offers. We were even told by an EA that a house we were interested in (& would offer £50k lower) would sell for above asking as the vendors had so much interest. As a result we've gone on a viewing strike,no point encouraging the lunatics. Like you, our LL has sold the property, so we have an move date, looks like another rented place for us (will be 3 in 2 years so not ideal, especially with a family) but a move is a week of upheaval and then life goes on. I can't understand what's going on?? where is the money coming from - is it all IO mortgages and people assuming low IRs over the long term? Rozza, hope it is the case - I do track sales and lots are going through but maybe the recent batch of SSTC will struggle.
  8. Think there is 2 markets - even within a small area. Spoke to someone today who has been trying to sell their house for over a year. (put on/off the market during that time). They got an offer a while ago which they rejected and are now bitterly regretting it. Subsequently offers have been much lower. However less than 2 miles away, in a more desirable area, better transport links/schools, houses are achieving over asking and go under offer in days (& do sell as I track land registry data). In this area loads of Dear Homeowner letters are appearing but no forced sellers so very little coming on the market. I saw a house today - good enough family house but seriously overpriced. Interested to see what happens, if it sells quickly we'll continue renting as I won't buy at these prices.
  9. Where we are (Surrey) hardly any houses coming on, those that do are swamped with buyers so prices going up. We have put offers on 8 places and been outbid signifcantly on all. We just don't want to play the game anymore as it feels like 2007. How the heck can the economy recover when everyone has to spend such a large proportion of their income on housing.
  10. Will be interesting to see how the other banks report Qrt4
  11. I really wish it was..house went on the market but no interest for a few weeks so they lowered it by £50k, then they played 'the offers in excess off' game. EA was really frustrated that they were not taking sensible offers but it seems they have held out and managed to get an above asking price. It should have a small chain so I'll be checking what they actually got for it. I'm just sick of it all, I bought my last place years ago (17 years ago) when the market was normal and seeing this madness is shocking. Logic tells me it can't go on but I'm not sure anymore..
  12. Just what we have started to do - look at other areas but it's not straightforward with school, work and my partner has a child from another relationship that we need to live reasonable close too. work colleague is also having similar problems in Herts so I think there is a big north/south divide going on.
  13. We have, sadly, a booming market in our area - everything halfway decent is sold - especially the larger family house £500k+ . The volumes are very low, and I can't quite see how estate agents are managing since the high street is full of them. 1. house that sold in June09 for £452k went back on the market, with absolutely no work done to it for £499k. It was sold within a week. 2. We offered on a house 1% below asking and the sellers turned us down as they were holding out for an offer above asking, which they got this week! 3. House went under offer at full asking price on the same day. It is a seller's market in my area! We moved counties and decided to rent for a little while we got to know the area and now we're regretting not buying earlier on this year as the housing market is in a frenzy state. We're having time a dreadful time with the landlord, who wants us to end the tenancy early so he can sell and it's costing a fortune each month to live in a freezing cold house (no insulation, drafty windows) so we just want to settle. It is so depressing
  14. Visited Farnham this weekend as we're looking to move into the area for work reasons..(currently STR) can't see any estate agent closures yet. Seems the spring bounce has had a big impact in this area..Hardly any houses available in the GU9/GU10 area - even those that were hanging around for ages have now gone Under Offer. Prices do seem to have dropped but there is so little coming to the market that further drops look unlikely in the short term. I firmly believe we still have a way to go however but as Farnham is one of those 'good areas' it's likely to see price reductions lag behind.
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