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House Price Crash Forum


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About neilrich

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    Newcastle upon Tyne

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  1. There's no link, it's a hypothesis. UK GDP Q2 2020 down 20% year on year, despite the UK Government paying the wages. There's plenty talk about a bounce/recovery, however I'd expect Q3, Q4 and Q1 2021 to be down year on year, therefore the cumulative total come the Spring could be circa -30%. Retail, restaurants, entertainment, aviation etc, all these different sectors on their knees. Not possible for Q3 to be higher than Q3 2019.
  2. It's going to be a long winter, with GDP set to remain negative year on year until the Spring, yet House Prices are to remain unchanged?
  3. Perhaps it's just me, unbelievable!! http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10787446/How-to-pass-the-new-mortgage-affordability-tests.html
  4. Should you wish to take your pension as a lump sum, my understanding is that you'll only be able to take the first 25% tax free, should you wish to withdraw the remainder then you'll be be taxed at the appropriate rate. Someone lucky enough to have a £200k pension pot would get £50k tax free, but would have to pay 40% tax on the remainder, that'd be £60k tax leaving you with a lump sum of £140k. It shall be a difficult decision for many, what is a typical size pension pot?
  5. Reed Rains They still don't get it.
  6. All those years we've heard the likes of Justin Anim and The Journal talking the market up, and now, it is they who are having to talk it down. How the tables have turned. Thankfully many of us who have previously posted on this thread had the foresight, with the exception of Smarter than the average bear last known to be living at City Quadrant NE1 4DP where nothing has SOLD since May 2008!
  7. Gateshead firm Dreamport Properties Ltd collapses The Journal
  8. Regent Estate Agents & Valuers, 221 Gosforth High Street - Have ceased trading, out of business? It's going to be a long hard winter for estate agents, they don't have HIPs to supplement their income this time around!! Mortgage figures/statistics speak volumes. This could be it?
  9. Here's the part that I like, Two minutes of research and we can find out that the Dunn's house is 12 Edge Hill, Darras Hall NE20 9RN. Interesting to note that despite the price being discussed in The Journal, the agent has it listed as price on application, f**k I hate that!! Best of all is the fact that the Dunn's purchased the house in November 2001 paying £305k, and just 8 years later they had it on the market for £1.1million!! They've "renovated almost every inch of the property," I don't give a sh*t...from looking at the photographs you've not added £800k worth of value to the property. Since the bubble burst it's very difficult to value property, vendors and those in the industry can't see the wood for the trees, they still look to 2007 valuations as being correct! As some of us have learned, the reality is very different, my view still being that our economy has been built on sand. Today in 2010 we have a bloated public sector with a £155billion PSBR, an economy that's on life support(base rate of 0.5%), higher unemployment than a decade ago. Yet here's Mrs Dunn thinking I'm going to pay a £650-800k premium to buy her f**king house. Just goes to show that we still have a long way to go, but at least we've turned the corner.
  10. Think this is now on to its third agent. The price has now been reduced to £250k.
  11. I work in a building that is circular in shape, the fact that no rooms are square is a really big problem. Average size rooms and the furniture can't go flush against the wall, or into a corner. There's so much wasted space!!
  12. It's so sought after that there's only been one sale in the past three years, and that was in May 2008!! City Quadrant is also the home of former poster on this thread Smarter than the average bear, it's no wonder he went very quiet. City Quadrant
  13. Pattinson Estate agents have a new trick - For each and every property listed on their website they now show Typical monthly repayment £350.96* with Mortgage Advice Bureau Of course, as you'd expect from such a bunch of professionals, they've got it wrong! They are describing interest only as repayment, misleading or what?
  14. I gave up on the Pattinson auctions after posting the above, their houses are generally sh*te, and the results are simply boll*cks!! In my opinion.
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