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WatchingFromTheHills

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About WatchingFromTheHills

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  1. I wonder if there's a new dynamic at play in the current housing market. In the various areas I keep an eye on, I see properties come on at eye-watering prices - significantly above previous peaks - and launched with great fanfare by agents and vendors. Then they stick on the market for a few weeks before they're reduced in price a few times, at which point they go under offer. A good few then come back onto the market, almost certainly because the buyer hasn't been able to secure a mortgage (of which more later ... ) I suspect what's happening is that vendors are still in the mind-set of
  2. Agreed. I know the area well and it's bang on an A-road. The traffic doesn't move particularly quickly, but there's a lot of it, including buses and HGVs going to the industrial estate down the road. Prepared to be proved wrong, but can't quite see who's going to pay £750k for something like that, in a location like that. For another £50k you could get somewhere in the same area, similar in size, in a much quieter location.
  3. Not sure if anyone else has noticed this - or if it's a well-known phenomenon and I've just missed it - but there seem to be a lot of "instant" sold listings going up on Rightmove. I see quite a few properties coming up on my alerts as "new", but when I look at them, they're Under Offer or SSTC. I suspect this is a marketing tool by agents trying to big up what they can do for potential vendors - "Look! We sold this house without even trying! Come join us!" However, what I also notice is that these properties are often relatively reasonably priced - even if they're still very expensive and
  4. To be clear, 60% falls would be fine with me. Just passing on some information and observations, not endorsing them ...
  5. The whole thing is somewhat baffling. Some indexes are up. Some are down. Some are up a lot. Some are down a lot. I suspect the only way to find out what the market is doing is to actually test it. If it helps, I spoke to an agent in SW a few days ago about a house he was marketing. Unusually for an agent, he's pretty straightforward and tends not to make things up to suit whoever he's talking to. For that reason, I listen to what he says. He's adamant that there's a sense of realism creeping into the market now. We'd like to buy back in London in the next twelve months, and his advice is no
  6. Is the discrepancy because it's a 22% drop from last year's peak, rather than an monthly, quarterly or annual measurement?
  7. Horrible. Wonder if it's true. Or EAs doing what comes naturally? Buy now to avoid disappointment.
  8. Today's Halifax figures are confusing. I think all house price indexes are flawed in some way. To be fair, that's usually flagged up by whoever's producing them, but the cumulative effect is that it's very, very difficult to form an opinion on what's actually happening. That confusion seems to be reflected on the ground. I posted something last week about an agent in SW London not letting me see a property because I wasn't a cash buyer - or at least "unencumbered", as he put it. According to him, the market was roaring away and the vendors didn't want to waste their time with anyone who co
  9. London not crashing. London going great guns according to the EA who won't let me view a house there because I haven't sold mine. I asked what would happen if no-one let anyone see any houses unless they'd already sold theirs, but it didn't make any difference. I'm still not allowed to look.
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