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House Price Crash Forum


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Everything posted by janch

  1. A raise in council tax would help cosiderably plus would help local authorities fund their services. I'm surprised councils don't charge double or triple council tax for empty properties empty for longer than say 6 months.
  2. The cost of care is the killer (no pun intended) in this as chicker says above. Also if there is more than one child anything left will be split between them. And as people live longer it's a mighty long wait for the inheritance.
  3. Plus there's a noticeable decline in houses being put up for sale round here (Wilts). I'll expect a flood shortly when people want to get out before they're wiped out.
  4. This is one of the areas I keep an eye on too and I agree prices have "softened". 2 bed terraces were above 300K last year and some are now below this. I do a weekly count of properties new to the market in the past week which includes reductions. The amount of property coming on has reduced substantially in the past month or so. If you subtract the doubles (which incudes those annoying reductions for over 60s who get a life-time mortgage) the ratio of new to the market v reductions is now approaching 50% most weeks. It used to be much less than that which I find heartening.
  5. Where I am (market town half way along the M4) prices are still rising but very few properties coming onto the market. Anything decent is selling but the tat (mainly ex BTL) is sitting there. Some are reducing but most people seem to be sitting tight believing prices are still soaring. I'm waiting for people to realise that further towards London prices are starting to fall and also for the BTLers to suddenly realise the new tax rules have now come into play. I wish it would all hurry up as I sold in March and am in rented awaiting my perfect (ha ha!) property. I'm beginning to think I'm never going to find it. I mainly sold because of neighbourhood issues but if I wait a while I might "bag a bargain". I think supply is higher where prices have started to "soften" rather than hereabouts. I have made a few low offers but no-one took the bait. Maybe I should try again on a few more
  6. Maybe it's people who moved down south for work and are now cashing in their chips ie sold their London/SE house and retiring back home. Northern property would appear cheap to them.
  7. How come we poor mere mortals/plebs end up filing in endless forms to proove our ID and solvency etc whilst others seemingly bypass all checks?.....that's what I want to know. It seems to be 1 rule for the rich and something completely different for everyone else yet we supposedly don't have corruption in the UK. What a joke.........
  8. I complete on a sale on Thurs this week and am in a rented flat. I moved because of neighbours but I may carry on renting for a while. I want prices to drop like a stone. More likely they'll just drift down a bit.........here's hoping for a mega HPC
  9. janch

    My Story..

    In the case of price falls would the person/entity holding the other part of your flat get their portion reduced as well? Genuine question as I don't know how the shared ownership model works. So if say you pay £200K and the other party also has a £200K stake (50%/50%) split and the price when you come to sell has fallen by £100K so the flat now sells at £300K do both parties lose £50K? Or are you the one who suffers the full loss? If both parties lose in proportion to their stake then actually they are cushioning you to a certain extent and in that case shared ownership is a good deal. I agree for a good earner it shouldn't be necessary.
  10. Very interesting. I have noticed how Bath has rocketed recently and thought it must be people moving out of London having made a killing by selling there but you have got me thinking and I think you are onto something.There's no hope for us mere mortals who don't want to rent out property either as BTL or holiday accommodation.
  11. It's the increase in litter everywhere which gets to me
  12. They look as if they might be heading for an early grave
  13. My hunch is it's the cost of moving which is stopping people moving so unless you really have to move (death,divorce etc) people are staying put. Even for a "cheap" house the SDLT, EA and solicitor's fees are prohibitive. Also it's harder and seems more complicated than it ever used to be with chains falling apart etc. What we need is that glut of BTLs to hit the market then we might see some movement especially since they will be "chain free".
  14. I am already doing all this as I thought the same as you
  15. Chrippie....I don't think you sold too early since it took so long (12 mths) to sell. Once prices start to fall more noticeably there won't be (m)any buyers and people who want to sell will start to panic. Better to sell at a point when prices are still rising and very near the top than on the way down. I would say it was good timingVery interesting post by the way.
  16. Maybe it's possible to view, sound interested then do a deal. Someone might bite!
  17. Someone wants out quick (before HPC perhaps!)
  18. The covenants on my faily recent new-build house included no practice of musical instruments! Also while the developer was on site the place was clean and tidy but more recently it's going downhill with litter etc in spite of a maintenance man who is employed to maintain the communal grass areas. Some people seem not to care at all about where they live even though most are OO although some are rented out.
  19. I thought the wave of HPC would spread out from London along the M4 but I've just looked at properties for sale on RM over the past 7 days in Cardiff and there are 81/164 reductions ie approx 50%. This hasn't happened in any of the other places I monitor mostly in SE England and along the M4 corridor so it may be that the crash happens unevenly throughout the UK with the more desirable areas holding out longer. (Sorry if anyone thinks Cardiff is desirable!)
  20. Talking of SE Wales I looked today for all the properties for sale on RM in the past 7 days in Cardiff and there was 50% reductions! (81/164 allowing for double entries). I have never seen this many before and wondered if it was Ros putting her property empire up for sale and it not selling
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