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House Price Crash Forum


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Everything posted by sammersmith

  1. Semi-related but i found out that Zoopla will remove any historical listing that you ask them to remove https://help.zoopla.co.uk/hc/en-gb/articles/360011412578-What-are-historic-listings-and-can-they-be-removed- This is a shame as I'm interested in previous attempts to sell and the condition of the house. It does explain a lot though where there are clear gaps when i know a house was listed.
  2. Yes this was disappointing. I bet they’ll do something really stupid, such as announcing an increase to the additional dwelling SDLT from 3% to 6% will apply in 12 months. Nice little period of frenzied LLs for the next year to give a final kick to HPI.
  3. Deposit protection regulations seem to be the way around this. If the LL has registered the deposit then there's a record that can be queried. If not registered, then it won't be long until they encounter a savvy tenant who will expose the LL and screw them for 3x the amount of the unprotected deposit when the LL inevitably tries to claw a bit of that money back for themselves. The only way a LL could stay under the radar was by not asking for a deposit, which the vast vast majority won't do. This is a great example of how the greed and untrusting nature of LLs can be used against them.
  4. There have been quite a few very similar discussions of late. How about this one: why am I not getting any offers for my newbuild in Sutton Coldfield with an asking price of £1.35 MILLION https://www.mumsnet.com/Talk/property/4347588-No-offers-on-our-house It's a mystery right? Where are all the monied Brummies who are desperate for an overlooked box with a sex pond in the garden?
  5. This is my thought. There's a compelling narrative here that the remaining 20% relief of S24 is tax advantage available to LLs but not homeowners. It seems increasingly harder to justify even though the relief is not as generous as it once was.
  6. No one posted this yet? Think this is the first policy i've seen of Starmer's that i actually agree with. Tax on landlords could pay for social care, says Keir Starmer https://www.bbc.co.uk/news/uk-politics-58516799 Mr Johnson's plans, he will say, leave "a private landlord renting out multiple properties not paying a penny more in tax, and their hard-working tenants to pick up the burden".
  7. You still get nutters like this. Wants to downsize and have a mortgage-free retirement (so far so sensible), but would also: ideally would like to come out with enough money to buy two buy to lets (DH's pension) https://www.mumsnet.com/Talk/property/4345191-Which-price-to-choose To me this sounds like a nightmare retirement for them and any tenant. Or how about this one: I’m 52 and need some extra passive income to fund early retirement. https://www.mumsnet.com/Talk/property/4344749-Buy-to-let Can't I get someone to just pay me and STFU?
  8. Basically a million quid for an (old) newbuild on an identikit estate in Sheffield. For Fs sake. I've really seen it all now!
  9. I still think this stamp duty holiday was too successful for their liking, and they actually hoped for a sustaining of demand rather than sticking a rocket under the market. All this has done is compress sales into a short window. Sentiment can turn very quickly. I can't see where the demand or stimulus can come from next. Ideally we'll be back to May/April 2020 where everyone held off and prices were stagnant.
  10. Last couple of days i've noticed all the >£250K crappy 2nd hand new builds are reduced only after a few days of initial listing. I'd obviously never consider a 2nd hand newbuild, but it's an interesting indicator of sentiment as these were selling quickly before the stamp duty taper. Sub-£250K still being marked as sold quickly. My money would be on LLs toping up their portfolios and taking advantage of a rare giveaway that they were eligible for. We've only got 4 weeks to go until this wretched holiday is dead and buried.
  11. Oh yes. Having the threat of this happening seems healthy for an economy, as evidenced today. Just as the fear of prison time stops regular people from stealing so the theory can, and should, be extended to our lot.
  12. I know a bit about Korea, and to my mind the establishment care more about domestic concerns than helping speculators. Not because they have the Korean peoples best interests at heart, but because they fear being the target of citizen rage when shtf, as the last few presidents will be well aware of from inside their prison cells.
  13. The argument against rent controls is usually something along the lines of it discourages landlords from maintaining their properties to a high standard. Well, anyone who's rented for any length of time knows they spend sweet FA now so i can't see how they can spend less than FA. However, my biggest problem with rent controls is that the level will be set at where rents are now - which is too high and not actually rising that much. Also the yearly maximum allowed increased will become the standard increase across the board.
  14. No Arla milk in Morrisons for a couple of days, but plenty of their own brand milk so i've been getting that instead. It's a shame as I like Arla milk but it's not exactly an end of days situation
  15. I think only people on here refused to engage in bidding wars. Everyone else I saw (friends/colleagues/MSEmumsnetters) thought it was nuts but felt compelled to jump in anyway. Typical mania mentality. Even FTBers were rushing to make stamp duty 'savings' - even though (for sub-£300K houses) it made no difference to them. The problem is that now future sellers have seen what bubble prices are possible and they will likely try and wait it out until they get the same or better. It might take a while until they're forced by either rate increases, repo, divorce, or death. Now that the holiday is over i'm actively looking but, for the reasons above, I'm only seriously considering probates and repos - something where there's a clear motivation to sell.
  16. I've been saying this both on here and to anyone who would listen to me since Covid started. This ^ There will come a point when this new 'WFH paradigm-shift race-for-space' will be exhausted, and the people willing and able to move to the countryside would have done so. The stamp duty holiday brought this date forward and created a hard stop. It's also interesting that it coincided with getting little darlings enrolled in the local school before the start of term. I really can't see this continuing after September. Why would people not have bought/sold in the stamp duty window when they had the chance and demand was booming?
  17. Doesn't seem to be all that. It just gives 60 days 'breathing space' where no enforcement or interest is charged. They don't actually pay the mortgage and it's only 2 months. Can-kicking in action.
  18. I'm 78%, which surprised me as my wife isn't working and we have 2 kids. It also surprised me that the only expense they consider is council tax. As it happens, this is my biggest expense after rent but for everyone else i know car payments and nursery costs take a much larger wedge
  19. Because they are stopping stimulus. They did end the stamp duty holiday (to the screams of many), they will end furlough, and all the talk seems to be about preparing us for tax rises. In this scenario, chucking out another housing stimulus would be absurd. Even if they did do something, i don't believe anything could be as effective as the stamp duty cut - which unleashed years of demand and compressed it into a few months. That trick is well and truly spent.
  20. This might work in London, where there’s endless demand and little hope of affording anything else, but outside of London I doubt anyone would bite. SO outside London seems limited to the very low paid. For those that might be interested in a fully renovated house, It won’t have the same showhome experience and it’ll be easier to compare how much you’re overpaying. What happens in the (very likely) scenario of identical non-SO properties being offered for sale? Who would go for the SO option over full ownership?
  21. I'm not questioning the data. I am questioning the narrative that the media like to frame around these figures, especially as this seems to spur people on more and so becomes self fulfilling. My point was that auctions are tanking. Why? Perhaps because the all buyers now are locked up in chains and therefore auctions are out for them. I don't deny that either. It clearly is rampant. What i question is how sustainable this is, given it seems to be based on a time-limited stimulus. What will happen when it turns? I remember all too well the new paradigm being claimed in 2007/2014/etc etc. It didn't last then and i don't expect it to last now. Agreed, and they haven't done this even though doing so would seem to be pushing against an open door. Who is really against this? Labour would certainly love it, as would most LL and Tory MPs etc.
  22. But i really think all this work has just delayed the inevitable, not prevented it. They can't have another stamp duty holiday, lower mortgage rates further, eviction bans, furlough, something something race for space. That's it now. All they seem to have done is pushed back the day of reckoning from Spring 2020 to Autumn 2021/22. Now they seem genuinely worried about how they're going to pay for it.
  23. Away from the puff, i've noticed auctions are really struggling to sell anything. Take today's Auction House: London auction as an example https://www.eigpropertyauctions.co.uk/live-stream/auction/auction-house-london 7 lots 1 sold in the room 1 sold prior 5 withdrawn prior So, they essentially went ahead with the auction today for 1 property. Why were 5 properties withdrawn before auction day? No one bothered to view/express any interest? This seems typical for all the auctions i follow, with the vast majority of properties being withdrawn or failing to sell. Could be this new remote auction format stops people getting carried away and blinded by off the wall bids. I honestly don't know but it's interesting as this seems to be the one area of sales that is tanking.
  24. Ofcourse, a 25 year old buying their first home shouldn't be news in any functioning housing market, but, of course, here it's held up as the pinnacle of achievement. She actually did relatively well. It's in Barking (which is not somewhere i'd chose) and PocketLiving, who give the impression of a hipster-trendy outfit but are actually worse than the big developers. As I recall they slap on a ton of restrictive covenants to the point where you're basically still a tenant with liability for maintenance costs. She'll come to hate this once the newbuild shine wears off.
  25. Haha, i just saw a comment that says exactly this but it's clearly a parody
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