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CountingTheDays

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  1. @Sausage Here's a list of the major announcements up to the 9th June: https://www.theguardian.com/business/2020/jun/09/uk-companies-cutting-jobs-coronavirus-crisis-redundancies More here covering the last 7 days (from today): https://news.sky.com/story/coronavirus-more-than-10-000-job-losses-announced-in-a-week-12018549 And some more recent ones: https://www.ft.com/content/b45e111d-40ca-4643-aea5-9d1c07598796 Maybe we need a pinned thread to keep track? Looking decidedly grim out there...
  2. From This Is Money today: Banks risk a mortgage credit crunch as 90% of small deposit home loans are axed in lockdown Juicy quote: So nigh on impossible to get a mortgage with a 10% deposit and a significant reduction in range even for those with 20% - at least for now. And with furlough beginning to wind down and a likely second wave coming (see the US daily case graph for what might be in store), you'd have to be delusional (or an EA) to bet on the UK housing market for the foreseeable.
  3. COVID-19 causes the global tourist industry to collapse and suddenly, owning an Airbnb "portfolio" doesn't seem like such a good idea. So how to pay the debts - mortgage, repairs, rates? Easy! Stick the property on the market - either sales or rental. Problem solved. Unless, of course, everyone else has exactly the same idea at exactly the same time... https://www.wired.co.uk/article/airbnb-coronavirus-london
  4. Except for Japan, we all seem to be on the same trajectory. Almost 600 in the UK now. That's what exponential growth does.
  5. An early present for the good boys and girls on HPC: https://www.estateagenttoday.co.uk/breaking-news/2016/12/three-year-high-for-number-of-homes-sold-below-asking-price Merry Christmas, everyone!
  6. I'm sure this must have been covered over the years on HPC but I couldn't find anything, so here goes... Where I live (south coast), I've noticed a significant jump in the number of people extending their properties. Not surprising, really; as house prices rise, people are inevitably either trying to rake in more cash by extending and selling on, or can't afford to move to a bigger place so build an extension ('cos it's cheaper, innit? ). This set me wondering: do the house price indices take this into account when mix-adjusting? Obviously, if they don't and enough people extend and sell on, the impression will be of a steady increase in prices over time. In areas where there are few sales but a lot of building work, this could skew local prices quite considerably. And I'm sure this is increasingly the case, given the points I raised above. As to the extent of the increase: who knows? Perhaps it's too small to worry about, though over a decade or so, perhaps not... So... does anyone know either way? And if the indices don't adjust for this, has there been any attempt to quantify the effect? Ta.
  7. Posted this on the News blog, but as my submissions never seem to appear there, I thought I'd post it here too: https://www.theguardian.com/business/2016/oct/13/properties-seized-assets-corrupt-cash-crackdown-criminal-finances-bill-tax-haven We'll see how this pans out; but if it has any teeth at all, then it's yet another measure that will discourage foreign "investment" (cough). We've had a drip-drip-drip of legislation this year, all designed to discourage (in one way or another) the idea that property is simply an investment vehicle - and sooner or later, it has to bite. And while I'm ever the cynic, I increasingly feel that our new Prime Minister is one of those rare and elusive of creatures - someone with backbone and a belief in doing what's right, rather than what lines one's own pockets. We shall see, we shall see. Interesting times.
  8. Hi fellow doom-mongers Like most on here, I keep an eye on PropertyBee. Today, I noticed this gem: http://www.rightmove.co.uk/property-for-sale/property-29114393.html Price history: 21 January 2011 * Price changed: from '£135,000' to '£100,000' 13 September 2010 * Price changed: from '£160,000' to '£135,000' [Found by n/a] 09 July 2010 * Price changed: from '£170,000' to '£160,000' 24 March 2010 * Initial entry found. [Found by n/a] £170K to £100K in 6 months is pretty dramatic (especially in the South-East) - I'd be pretty gutted if I'd bought one of those last year! Can anyone figure out what's going on here? Anyone know much about McCarthy & Stone?
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