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House Price Crash Forum

porkpharm

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About porkpharm

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    HPC Newbie
  1. Newham is only place in London with negative annual growth(-2.5% in Oct land Reg report). Still a good start.
  2. Anyone see this in evening standard yesterday Simon English: What casinos have to teach us about home ownership http://www.standard.co.uk/business/markets/simon-english-what-casinos-have-to-teach-us-about-home-ownership-8576299.html
  3. http://www.standard.co.uk/business/markets/simon-english-what-casinos-have-to-teach-us-about-home-ownership-8576299.html article by Simon English he seems to have got it.
  4. in North London, Islington N5 +1mile with SSTC 985 , excluding SSTC 553. therefore 46% are SSTC.
  5. I was looking at a property on Haringey ladder through Paul Simon last March. They were asking 485, I offered 420 which they rejected. I didn't increase my offer because I wasn't that interested in property, it is on land reg now having sold for 445k. Unless you are really desperate for that property I would start at around 15% reduction. Green lanes seems peaceful but is rumoured to be drugs capital of Europe, there were shootings in the area, due to rival drug gangs.
  6. i noticed some HPCers are buying now-maybe this is the contrarian indicator we should look for, when all the HPCers are throwing in the towel and buying the market will crash. After selling my property we put in an offer on a property and got gazumped twice in last 2 months after having offers accepted of 10% below asking price(in Nrth London). I would like to say that this market cannot go higher but i thought that in 2002 and was very wrong. As we are mainly cash if i see somewhere we like we will buy otherwise will rent and hope prices don't go even higher.
  7. I got gazumped just over a week ago. we were buying from a developer who accepted a 10% reduction on his initial asking price at beginning of Nov. have now had to decide whether to pull out of sale of my place-have finally decided to proceed with my sale. has cost me valuation fee, solicitors costs etc, not to mention emotional stress!!
  8. we had similar situation, decided to open lots of accounts with different non linked banks and put £85 k in each. -problem is that some banks only let you transfer £25k a day electronically, you can transfer more by CHAPs(?) but have to pay £35 every time you make a transfer. -can transfer any amount by cheque but takes ages to clear. -it is worth putting in savings accounts for interest. -another problem is transferring it all back,and getting all money transferred back into correct account for when you want to complete. would be interested to know if there are any other solutions to this problem.
  9. I live in islington and last week was gazumped on a property in holloway. i had offered a 10% reduction on the agents price but vendor had accepted my offer (500k)2/3 months ago. Vendor said it was because he had got a higher offer. looking at landregistry report which was out on monday, it looks as if some London areas are still getting growth, but growth is different at different price bands. In London 500-600k band sales volume is 10% higher than a year ago, whereas 400-500 and 600-800 bands both show reductions. i think the divergence between prices in different areas in London gives weight to the idea that there might be a correction over all of london. for now i will continue with my sale and rent and hope prices don't price me out of market.
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