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House Price Crash Forum

Smiley George

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Everything posted by Smiley George

  1. Doesn't help that Zoopla's price algorithm seems to be completely detached from reality since they updated it a while back. This is a big part of the problem in that in many cases it is responsible for the stand off we have at the minute and also most of the ridiculous asking prices I'm seeing. For instance house we're looking at today was put on at £900k about 4 months ago, very similar house round the corner sold for £770k in March - similar footprint, semi-detached, same standard of decor. It's been steadily reduced and we're viewing again today. It can't be a coincidence that top Zoopla estimate for this property is £895k. Checked another 5 similar houses in the area and yep the asking price is within 1 or 2% of Zoopla top estimate. 4 of the 5 have been reduced more than once and have been on the market over 3 months. The UK housing market is like the Wild West and is crying out for some regulation, I'd love to see these VI indexes properly analysed and held to account.
  2. Can't see the full article, but the first paragraph suggests a 2% fall is going to be a disaster?? Doesn't sound very disastrous to me.
  3. Do you mind if I don’t. Time for landlords to google moral hazard and suck it up, or sell up.
  4. The scheme is like giving a hard hat to someone about to be hit by an asteroid.
  5. If thats the case, that might correlate with mini boom of sales seen in January.
  6. Just checked my postcode and 0 houses sold in April on Land Registry. The last house that sold according to the data was on the 10th Feb. A total of 10 houses showing as sold this year, most in January. Compare that to RM and there are currently 32 for sale and 91 showing as SSTC/Under offer. This data is completely meaningless in the current market....at least applied locally here.
  7. Seeing similar starting to unfold - out of 56 listings 12 are now reduced. 10 listings are back from SSTC. Encouraging signs.
  8. Same here, RM supply has increased by about 15% in the last week. About half of those aren't brand new listings but "unexpectedly re-available", which is nice to see. Quite a few reductions as well across the board over the past couple of weeks. Prices are all over the place though, most new listings are "Guide Price" at 10% over actual HPI in the area, so looks like people trying to get their lottery win - these will be next weeks "reduced" contingent, they've missed the boat.
  9. THIS IS ASKING PRICES FFS!! Its made up and completely open to manipulation by RM and EA's to try and peg house prices ever higher before the inevitable leg downwards; especially when supply levels are at all time lows. The higher they can get that "average house price" before things reverse, dampens the impact of whatever declines occur next 10%, 20%, 50%..who knows. But if they can get some final ramping into Joe-idiot Public's head before then they'll be happy. That our media reports the RM releases as being actual house price data, is the real issue and shouldn't be allowed.
  10. How do they know? And does it stop at only 10%? Any chance they haven’t got a clue and are just guessing 🙂
  11. It seems to me that the BOE governors are simply hell bent on trying to ensure the "everything bubble" doesn't pop on their watch. Clinging to a dying theory of modern monetary theory and the asset inflation caused by the idiotic over reaction to both Brexit and the pandemic. They act for themselves and the large financial organisations and not in the best interests of the UK public, at what point does significant scrutiny fall on these people and the damage they have done to a large proportion of the UK? Maybe the Labour Party will wake to this opportunity, oh no hang on, Racel Reeves thinks the BOE have been doing a good job these past few years. Oh well....we're all fecked.
  12. I wonder why the Halifax and Nationwide indexes don't get more scrutiny because of this?
  13. 🙏 But it's the Independent and this is buried away in the "Voices" section, we're probably the only ones who've read it. Meanwhile what does make their front page (website) is a business story headlines - "Marathon mortgage: will a 35-year loan solve your house price problem?" If this was front page of Mail and Express, then I would be much more hopeful.
  14. AND another "unexpectedly re-available" today, this one hasn't hit RM yet, but it's a house we viewed and EA has just been on the phone; there's definitely a shift occurring in this neck of the woods. Speaking to our IFA today, he's said that nearly a 3rd of his current mortgage transactions have been down-valued in past fortnight - I suspect the increasing number of sales collapsing we're seeing maybe related. Maybe not full on crash, but EA's are getting twitchy next couple of weeks will be interesting.
  15. Wow! 5 family houses (3 and 4 bed) just returned to the market today after being SSTC for various periods, started the day at 45 houses available in 1 mile radius now 50! Two of them using "Unexpectedly re-available" as well Spring bounce....sorry collapse on the way?
  16. Jesus Christ! Another mainstream political party avoiding the issue staring them in the face and deciding to throw more public money to "help" people who made a conscious choice to pile into debt up to their eyeballs. Unbelievable!!
  17. My 3 year old could give a more accurate property valuation than Zoopla...ignore it. Max out your borrowing, drain the BOMAD and offer £700k....go big or go home. It's what "everyone" else is doing!
  18. Thanks for the responses. On closer inspection, another oddity in these listings is they’ve all had the floor plans added as photos. if ever there was a sector requiring some overhaul, oversight and regulation the uk property market is basically a Wild West of liars and spivs, using underhand tactics. I despise EA’s with a special passion I only used to reserve for recruitment consultants 🙂
  19. Wondering if anyone can shed some light on some odd RM listing behaviour I've seen today. In my search area, there are 3 re-listings today of properties that went SSTC/Under Offer in Feb/Mar, usually when this happens you can see the listing history in property log. However all 3 are showing as first seen today, even though the RM "added on" date is the original date. Is this EA subterfuge to mask failed sales or just a bug in the app; anyone else noticed anything?
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