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House Price Crash Forum

Smiley George

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About Smiley George

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  1. Viewed about 5 houses past fortnight, EA's now on the phone almost daily pushing for feedback and encouraging second viewings/offers. One house in particular which was ok, but kite flying price, EA claimed 14 viewings on first day and they'd already had an offer. Now 2 weeks later EA been on twice trying to get us 2nd viewing and saying a deal can be done - ignore the asking price! There is blood in the water.
  2. Our searches around SW London/Surrey are now full of reductions and more and more properties coming back to the market. 4 weeks ago EA's were ignoring us as they knew we were looking for 'value' and not going to join in with the mania. Last week the missus's phone has been ringing constantly with EA's encouraging us to view houses with asking prices £100k over our budget, suggesting a 'deal' could be done quickly and they know we're not going any higher than the number we've given them. This autumn is going to be very interesting.
  3. Wow...an EA talking sense and using his experience and self-awareness, a rare breed. He's right in the most part, except for the date - for London and SE at the least the reverse has already begun and will accelerate Oct - Dec this year as furlough ends, redundancies kick in. If you add in increasing mortgage rates and the removal of high LTV loan availability, the stamp duty holiday will quickly look like the proverbial pissing in the wind.
  4. So how the fux does offering someone the right to buy between 10% and 75% actually fulfil that problem statement - it doesn't, what utter nonsense.
  5. Yes; but most informed commentators could see what would actually happen - a transfer of the benefit from the buyer to the vendor via increased demand/HP's. Is it simply a case of unintended consequences of a rushed through policy to placate the crying VI's? Or was it Sunak's intention to stoke a mini-boom? I'd say the latter.
  6. Agreed. Be interesting if we see an acceleration of houses coming back to the market after deals collapse due to the more restricted lending criteria. Also, just seen @TheCountOfNowhere post about mortgage rates increasing as well, this will only increase the likelihood of deals collapsing and probably we're about to see the start of some significant turmoil...starting in London and the SE.
  7. From the actual release itself; the Halifax themselves can barely believe what is going on and is urging caution. “Notwithstanding the various positive factors supporting the market in the short-term, it remains highly unlikely that this level of price inflation will be sustained. The macroeconomic picture in the UK should become clearer over the next few months as various Government support measures come to an end, and the true scale of the impact of the pandemic on the labour market becomes apparent. “Rising house prices contrast with the adverse impac
  8. Halifax's press secretary is doing the rounds this morning.
  9. Agreed. And I don't think it's wrong given where I am in life to expect much, much more. in summary having spent 15 years in the armed forces, then contracted for a few years, then started and built a business back in 2009 that now employees 50 people and turns over £6m+, is it wrong that I should want a larger house, with a garden in the area we've been renting for the last 9 years? It looks like to secure what we want we're going to have to turn the kids lives on their heads again (we've moved 3 times already since eldest was born), as we look further out of London, new schools ne
  10. No money has yet changed hands, an offer has been accepted, there is now a long journey to see what happens and whether the house actually is "sold". To be clear the EA's response to the vendor was along the lines you suggest, professional and polite - the snippet I provided was him confiding in us in an open conversation on the state of the market in the area we're looking.
  11. Not this sh!t again!! These people don't half enjoy rewriting the past. My childhood and adolescent years spanned the 80's, family was working class, father was an aircraft engineer, mother worked part time in DHSS. They bought a standard between the wars 3-bed semi in mid-70's which we extended to 4-bed over the garage. I distinctly remember a foreign holiday most years, usually the med, one trip to Florida in the mid-80's. I remember having a decent size turkey on the table at Xmas, we weren't out sweeping chimneys so that mum and dad could service the mortgage. In contrast I'm now
  12. I’m guessing you’re about 13 and are a bit anxious about going back to school, hence the misplaced. Don’t worry, it’ll all be okay. Actually my daughter gets hangry if we don’t have dinner on time - have you had your tea yet son?
  13. Yet another topic derailed by a massive clown shoe. Who woke up Mr flb?
  14. The other snippet of conversation from him was regarding a backlog of probates all going back to January, he had at least 5 waiting to come on, but solicitors simply aren’t processing them quickly enough - and this is pre-pandemic stuff.
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