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House Price Crash Forum


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About BoredByTorque

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  1. Also agree. It makes no sense for us to blame the EU for our idiocy but there you go. I know that's not what you actually meant but unless you'd like to elboraote on why *you* felt it didn't make sense I can only assume you struggle to read?
  2. Agreed. Brexit is utter madness, voted for by the majority in the UK but somehow it's the EUs fault. The world is judging the UK, and it's not complimentary.
  3. Of course the UK leaving the EU changes everything for the EMA. Will be interested to see the outcome of this.
  4. BoredByTorque

    Sadly, I see no other option

    They paid £500k for a one-bedder *not* in London? I don't think you can even label that stupidity....
  5. BoredByTorque

    Australia Faces Its Demons

    I keep telling everyone how expensive *everything* is here and coming from London after 10 years that shocked me. They were saying that unemployment is low, IR are low, the house prices dropping is unheard of with those factors. My dear old dad said it's because everyone here is hocked up to their eyeballs. He's a builder and said at Christmas 'the big ones coming very soon' He encouraged us to buy the house we did as he thinks it will be carnage too and advice was hunker down somewhere cheap, that you aren't going to get chucked out of.
  6. BoredByTorque

    Australia Faces Its Demons

    I work with someone who can't shift their 3 bed townhouse on the wrong side of the city and they actually said they wouldn't give it away when I suggested lowering the price 🤷‍♂️ We've just purchased a family members house for a hefty discount an hour out of the city as we decided renting would be too disruptive with a the selling off that's probably going to start happening. I'm staggered by the amount of people here who have rental portfolios. I'm just looking for stability for the family. Bonus is we'll be mortgage free too.
  7. BoredByTorque

    The House Price Crash has started ?

    I think it's started but there will be still lots out there who were prepared to stretch themselves ridiculously who'll think the decline is a dip and will jump in, keeping the illusion going a little longer. Just had to give my head a big wobble as we nearly bought in the Aus market that is teetering like the UK. We have until Monday 5 pm with the cooling off period, emails and phone calls were started today to withdraw. I personally think we're in for a financial readjustment worldwide and me and the other half agreed today to see what 6 months down the line looks like.
  8. BoredByTorque

    Australia Faces Its Demons

    We were going to buy in the Aus market and have decided to hold off and rent. The area we are looking at is booming, it is a commuter town into a big city that is going mental because it's been ^under appreciated^ until recently 🙄
  9. What a bizarre BS thing to claim, have you actually got any evidence to back this up 🙄 And Australia's population is 24 million.
  10. BoredByTorque

    London - terminal decline?

    This was me and the other half in 2011, foreigners buying in London. We sold recently, Brexit and and a feeling of time to go home was our motivation. We very nearly tried to buy a bigger house in London, it was a feeling of almost being happy in the Capital but other cirmstances made our decision. I don't think London will be the derelict foreign owning hole this thread predicts, but, it's not the oasis lots think either. Definitely relieved to be gone. Will be happier when we've no more monetary ties with the UK.
  11. BoredByTorque

    Sell to travel

    Are you planning on returning to the UK? If so I think you're going to need a lot of luck... We sold and completed last month. The market is definitely shakey in London. But having said that, enjoy your travels!
  12. BoredByTorque

    Household debt in UK 'worse than at any time

    Sure. Whatever you're trying to say 🤔
  13. BoredByTorque

    Household debt in UK 'worse than at any time

    There is a real showy culture in the UK. Just take a look at the amount of people who will do anything for 5 minutes of fame 🙄. Keeping up with the Jones's today is an expensive mindset. I have friends who rent who are utterly feckless with their money and complain about not owning. And I have friends who have a mortgage who put everything on the never-never and don't have a second thought about all their debt. We have just STR, well immigrate, but I knew the time was right now for us or a while down the road after Brexit. I really didn't think we'd sell though as I can't understand anyone buying in this climate.
  14. Yes we probably do at the moment, some time out of this madness is needed. When you think £500k for a 3 bed is good because it's not £700k for the same house 2 miles away 🙄
  15. We've just sold in London. I don't know what the buyer pool looks like as we accepted an offer from our first viewers who had missed out on a similar house. We aren't buying again but I've also kept an eye on the next rung and there's just not a lot on at the moment (same with our size house, low stock). Those on have reduced, not massively but more realistically. It really feels like if people don't have to move they're not, everyone's waiting to see. I'm relieved we're out and think the actual buying and selling in England is crazy - the possibility of gazumping, be gazumped, the delay between being under offer and then it being binding. Throw in the cost of the actual house and nope, no interest in doing it again.

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