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House Price Crash Forum

BradleyStokeMan

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About BradleyStokeMan

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  1. As private sector companies that provide services to the public sector have been mentioned, I'll add my thoughts, for what they're worth. I work for a large IT consultancy company, in a team that provides IT services for a couple of government departments. My impression of my employer is that it is lean and efficient, and is not making excessive profits. I find it diffucult to see how the government departments I provide services for could bring these IT services in-house without a substantial increase in costs. I do have some perspective from both sides of the fence, because I was a civil servant for a couple of years, before moving to the private sector.
  2. I spent a couple of years doing IT work and living out of hotels in that area. My impression was that Bewdley was 'nicer' than Kidderminster, and I would prefer to live in Bewdley rather than Kidderminster. Kidderminster has some rough areas that are best avoided. I saw a lot more chavs in Kidderminster than in Bewdley. The bits of Bewdley next to the Severn are picturesque, but prone to flooding. Transport-wise Kidderminster has a train station, and Bewdley doesn't. I found the people in both towns quite friendly, but you're more likely to get the wheels from your car stolen in Kidderminster.
  3. It doesn't seem to be happening in the Bristol commuter belt yet. I've been monitoring areas such as Bradley Stoke, Nailsea, Yatton, Cam and Yate for a couple of months. The number of properties on the market is either flat or slowly declining. There are few quality properties coming to market in the £200K - £300K band. Properties in this price range that do come to market tend to be priced about 10% higher than they would have been last autumn. There was a small surge of new properties in Bradley Stoke a few weeks ago, most of which haven't sold yet, but very little since then.
  4. It seems to me that a lot of people want to buy £200K+ houses in these areas, so much so that there are very few left on the market. As you say, there still seems to be a good supply of cheaper houses. I don't really understand what the market is doing at the moment.
  5. My impression of the Bristol market is that there is still more demand than supply. In Bradley Stoke, the number of properties for sale has barely risen since Christmas. In some of the outlying commuter towns like Nailsea and Yatton, it it seems that the only properties coming onto the market belong to people who have died or who are going into a nursing home.
  6. Bradley Stoke has gone a bit mad this week. Although there is a steady trickle of properties coming onto the market now, they are selling at an even faster rate. In the case of my particular saved Rightmove search, the number of properties listed for sale hovered around 120 for most of January. In the last few days, it has dropped to about 100. Properties that had lingered on the market for months are now selling - presumably they were just overpriced until now. 4-bed houses seem to sell very quickly, 3-beds more slowly. Maybe there's a flood of new instructions just round the corner (fingers crossed), but I don't see much evidence of it yet.
  7. Is there a traditional time when the "Spring Bounce" is supposed to kick-in, with new properties coming onto the market? The number of properties for sale in several areas I'm monitoring around Bristol has actually fallen since Christmas. Even allowing for the snow, and the delay caused by HIPs, I'm surprised there aren't a few more properties coming onto the market by now. Perhaps everybody is holding back until after the election?
  8. When a mortgage company sends out a surveyor to do a valuation on a property, would the surveyor ever know what the %LTV of the proposed mortgage is? In other words, is a surveyor likely to be more cautious when valuing properties on which the mortgage company is providing nearly all the funds, compared to one where there is a large deposit from the buyer? The mortgage company is probably more likely to sue a surveyor for an excessively large valuation than the buyer. It seems that it would be in the surveyor's interest to know the %LTV beforehand, perhaps via an informal chat with mortgage company or estate agent. If an estate agent knows there is a large deposit, are they likely to mention this when the surveyor calls for the keys, and might a surveyor raise their valuation as a result?
  9. There's a house I know that's in the early stages of being sold - surveys, etc. Yesterday it was shown on Rightmove as "for sale". Today it has diappeared completely. It's definitely not listed as "under offer" or "SSTC". Why would an estate agent do this - does it give them a way of avoiding leaving a Property Bee trail if the sale falls through?
  10. I'm thinking of buying a house such as http://www.rightmove.co.uk/property-for-sale/property-13621710.html in Coalpit Heath. Any comments on what Coalpit Heath is like? The road this house is in seems very quiet. Any comments on whether the property is good value? The price is higher than it might be in Bradley Stoke, but there are very few decent 3-beds for sale in Bradley Stoke. Only 2 of the 3 bedrooms are upstairs, but all 3 are a good size - does this make it more or less valuable than a normal 3-bed detached? The view from the back garden is nice, but how much is that worth on the asking price? There are no identical properties in the road, so comparisons are difficult. Thanks
  11. From personal experience, I can confirm that there some frantic housebuyers in Bradley Stoke at present. Any decent house (ie. free of major defects such as being next to a chav-infested footpath, having stupid shared parking arrangements, etc.) will sell within days in an offers-over bidding war. I'm not sure whether this is inflating the asking prices, but it is certainly inflating the selling prices. Some people must be taking on scary amounts of debt in order to win these bidding wars. I suspect most of the houses still for sale are flawed in some way. Be suspicious of any house that has been on sale for over a week. I'd like peoples comments on why there are so few good houses coming to market? Is it mainly because people traditionally don't want to be selling their houses in the run-up to Christmas, and an effect that will correct itself when people start trying to sell in spring? Or are there other factors that is stopping people from selling, which may cause a permanent rise in prices?
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