electrogear
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Posts posted by electrogear
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This is vomit inducing! The young landord at the beginning of tonight's program - "there's winners and there's losers, and I've always thought of myself as a winner" then talks about how he "outsources" the cooking of his food to a woman who charges £10 per hour because he's "worth" more than her at £750 per hour. It get's worse, he then starts talking about the shoddy workmanship in one of their houses "well I prefer the pipes on the boiler boxed in but some people like it to look like that." (it looks absolutely horrendous) and then talking about the awful finishing in the bathroom "well yeah it doesn't look good but we don't pay them for the best job because the property is not our best paying property"
Pass the bucket!
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58 minutes ago, jiltedjen said:
why would they be breaking any rules? its their data. just not showing it wont get them into trouble. If they made the data up then maybe, but its just not showing it. Of course here on HPC would love to see some of the bubble tools (this being a small part of said tools) being used to help HPC instead, by showing falls in price and volume.
but they were never going to allow that were they? although in some ways stopping updating is far more ominous for those selling.Yeah, they know they're doing nothing wrong, but I love how they think people are so naive to believe this ongoing issue is not easily resolved by a software team! I have a degree in web programming, and I know if I was employing a developer who took 6 weeks to solve a bug stopping data being transferred into a graphing function they would be getting sacked!
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42 minutes ago, deadlyavenger said:
I'm happy re-tweet Mike Kilbys post (or was it on FB?) either way, maybe add the caption - "what are rightmove trying to hide?? That house prices are falling!!?"
If we all did this it would be bad publicity for them shirley?
I'm happy for you to re-tweet my post. I was beginning to feel like a bit of a conspiracy theorist, although quite a few of my work colleagues recently mentioned they'd seen my post and thought it was brilliant I was taking them to task on it.
EDIT - it was on facebook but I think you can share my post?
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4 hours ago, ftb_fml said:
Because I'm still not at all happy about RM's seemingly dodgy behaviour in ceasing to publish the inventory data, I've sent them another message feigning ignorance and enquiring as to why it's still not available despite more price info having been published this month.
I got this reply:So either one hand doesn't know what the other is doing, or they're trying to downplay the situation..
That's really interesting. I've had 2 different responses from then - 2 months ago it was a similar response to your's, but the second response as per my post earlier in the thread was that they are no longer going to publish the data to that chart (in which case why keep that chart tab going at all?!) I'm almost certain this is self preservation on their part - the longer they can delay the current listings figures showing how seriously stagnated the market is, the longer they can keep their shareholders in the dark... I wonder if the other chart data will cease once it starts to show a fall in prices?
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You sir Sancho are fabulous. If you can run HU17 for me, I have a strong suspicion there's been some decent drops in the last few months.
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24 minutes ago, GreenDevil said:
I hope you're right but I fear that prices will flat line and the market stagnate. Its happened for the last 3 months.
The only way of falls is higher rates and that I'm afraid isn't going to happen.
Br realistic, The americans are in charge of their one 1\4 point hike per year. This is window dressing . They will cut much faster....
Sorry to be a bearer of bad news but a 0% 0.1% and -0.1% stagnation isn't a crash to get all excited over!
I agree. We had a few isolated monthly falls last year that were greater than this quarterly fall. It's nothing to get excited about. I was really dissapointed by the -0.1%, I was expecting something juicier than that.
On the plus side, at least the media (especially the BBC) are reporting the negatives for a change. The spin in this headline from "residentiallandlord" made me chuckle though!
"Annual House Price Growth Remains Stable"
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2 hours ago, GreenDevil said:
Huh. Why should a profit from hpi be a god given right. It isn't. You think it is because you're conditioned to believe it by the media.
If you move within 1 year you need to expect to make no profit. It wouldnt affect movers they just would get their money back.
Since their would be little or no hpi anyway then you'd just buy your next place for the same money...
Ok cool it with the character assassination, I got the wrong end of the stick. I thought you meant a tax on the whole sale price, not the profit ?
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17 minutes ago, GreenDevil said:
IMO if you sell within 5 years you should pay tax. 100% after 1 year, reducing to 0 after 5 years. That would kill the flipper market stone dead.
Totally ridiculous idea. Yes it would kill the flipper market but it would also put normal working families in dire situations, for example people made redundant and having to move house for a new job or having to STR due to being out of work.
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The rightmove trend for sold properties has updated for January. 38 sales in HU17 which is the lowest monthly figure in 2 years...
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I was just about to post this, beat me to it! I particularly like the ironic sense of panic in this quote:-
“this is absolutely not a sign of desperation”. Director Tim Jackson said: “There is a lot of nervousness out there with the election and Brexit, and buyers are looking for excuses not to buy. We’re giving them reasons to buy.”
- excuses? Such as falling house prices? ?
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Not that I trust any "industry reports" anyway, but it seems like something's afoot which is delaying data from multiple sources. It's interesting to see Nationwide/Halifax revising down the previous month's figures as a course of habit now, to keep the current month's negative figure as low as possible!
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Have a look at Rightmove's response...
"Hi Mike, my apologies for the delay in getting back to you on this, we were discussing this with our development team. They have advised us that this report will not be updated as it is shortly to be removed, due to very minimalistic usage of the report from consumers and estate agents. If you have any further questions on this please do let me know. Jess"
...interesting!!!
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Since prices have been flat in my area for ages (aside from some rampant activity in March 2016), and I've been renting for 18 months (£10,800 @ £600/month rent) I would only need prices to come down by about 5% to break even (looking with a 300K budget).
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East Yorkshire. Median Income £24,388 so budget 137K ish. Had to look outside of my search area to find anything at all <140K, and a few miles away there's this 2 bed terrace:-
http://www.rightmove.co.uk/property-for-sale/property-46733973.html
Or this 3 bed semi:-
http://www.rightmove.co.uk/property-for-sale/property-45745815.html
which is OK size but I wouldn't want to live there and it's way below average for a 3 bed. You don't get an average house by any stretch within a few miles of Beverley. Problem is, East Yorkshire covers a huge area where the median incomes in different towns and villages will vary vastly.
In Hull you get a little bit more for your money. 3 bed semi:-
http://www.rightmove.co.uk/property-for-sale/property-65602592.html
It's probably still a bit below average. If you increase the budget by about 10-20K you're into average territory and there's a lot of 3 bed stock available there.
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I think what is happening where I live is, although less properties are selling; because the stock is now so limited (there's probably less than half the amount of properties being listed compared to a few months ago) there's proportionally more houses selling (as a percentage of the available stock).
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On 16/04/2017 at 9:26 PM, GreenDevil said:
So that means houses will be 4k cheaper then, by the end of the year, whooppeee!!!!
If the rate of change stays the same (-0.4% per quarter) yes, but that rarely happens. If this is the crest of the wave, then -1%, -2%, -5% for the following 3 quarters might not be unthinkable.
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1 hour ago, Roman Roady said:
good to read but I am afraid that £30bn across a set of assets worth nearly £8tn is not significant....but its a start.
When the collapse that I am expecting is over I expect several tn to be wiped off.
In our area we've gone from +10% year on year to +2%YoY in the last year. In the housing world that's a fairly rapid change for a "healthy market" (as everyone has been telling us) and if the rate of change is still picking up pace then we could be in a crash now without really knowing it. This quarterly statistic seems to be pointing that way!
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1 hour ago, MrMonkey said:
The smart EAs
....?
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17 minutes ago, darkmarket said:
Very satisfying bear food, just in time for brunches and dinner parties.
I was chuckling to myself last night at the thought of scores of hungover estate agents waking up to this! Hehehe
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3 minutes ago, btl_hater said:
Just checked the Express and Mail websites to see how they are reporting this news– no mention yet– will be interested to see how it develops.
The Mail headline will probably say something like "property BOOM imminent as property tycoons take a breather before house prices SOAR this summer"
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3 sentiment-killing news articles off the back off a Zoopla report. I was particularly stunned to see Yorkshire Post reporting this, as everything I've read from them in the last couple of years has been ramping prices up. Also good to see a tabloid and major news outlet using words like "collapse" or "plunge", although that's far from the truth compared to what's to come, at least they're reflecting a negative direction for a change.
http://www.yorkshirepost.co.uk/news/billions-wiped-off-value-of-homes-1-8494169
http://www.mirror.co.uk/money/29billion-collapse-house-prices-fall-10224876
http://www.itv.com/news/2017-04-14/29bn-wiped-off-british-property-market-in-just-three-months/
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Quite a sensible article for a change.
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Back in Feb I did a snapshot of activity on RM over the course of a week in my area.
In total there were 123 properties, and of these properties 40 were reductions (83 new).
Of the 123 properties, 72 had "no chain" or sitting tenants. 51 were owner occupier.
I'm definitely intrigued enough to spend an evening going through the last week's stats, but it's just having the time to do it. Watch this space!
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Looks like this has happened before...
Channel 4: Get a House for Free
in House prices and the economy
Posted
Although I'm finding it difficult to watch this utter ego grasping moron of a landlord giving his house away "for charidee", I couldn't help but point out the hypocrisy in this statement:-
"There's so many people just like her - hundreds of thousands in fact - that will never have the chance of saving a deposit to buy a house because they're stuck in rental accommodation because nobody can afford to buy a house because of supply & demand"