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House Price Crash Forum


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About BenH

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  1. Actually I am Kirstie.... . . . . And so is my wife....
  2. Start of the crash? Not here in SW London/Surrey. More like the start of a stampede where house prices have started to be listed at prices so stratospheric, that they are going into orbit. I am gobsmacked at the prices being asked AND being sold at. Give you some examples: No. 147 Thetford Rd ( a small 3 bedroomed house) was on sale for whole of 1 year in 2005/2006 & sold for £530K( http://www.findaproperty.com/soldsearch.as...0&spyrsld=0 ) in 2006. It is now re-listed at £750,000! (http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=134604&agentid=02742 ) Another house on my road in New Malden has come on the market for £660K. These homes were selling for £450K in 2005. I have so many examples as I am sure other people in this area can verify. This market has gone totally crazy. It looks like a North South divide here, where prices in the North have stalled, and it’s full steam ahead down in the South East.. But where are the glaciers when you need them ?..
  3. For all you doubters, look at the land registry prices and be amazed/shocked/depressed (delete as appropriate) by the current bout of price rises . This will be the final nail in the coffin for anyone who wants to buy in a desirable part of Greater London unless they have a house to sell. I have been tracking the sales of a few houses we viewed last year and the prices commanded now are just obscene. We viewed 69 Gibbon Rd in Kingston which sold for £405K in 2005 (and we thought it was over priced then!), and a new Kitchen and bathroom was subsequently installed. The house sold for £820K in 2006 ! http://www.findaproperty.com/soldsearch.as...mp;spyrsld=2006 No.70 Chestnut Grove sold for £499K in May 2005, and was put on the market recently. This sold ABOVE the asking price at £610K recently. I can vouch that the house was not updated since we last viewed it in 2005. http://www.findaproperty.com/soldsearch.as...p;sp=0&p=50 This trend seems to be corroborated by others here and the consistant view is that there doesn't seem to be a slowing in the market in London.
  4. Asking prices for some properties in Kingston/New Malden are now at stratospheric levels. This market is getting more and more crazy! The following property was on sale for 8 months last year at an asking price of £580K without attracting a single bid. Its close proximity to the A3/Malden Road roundabout (50 metres away) meant the traffic noise & pollution was horrendous. The property has now been advertised by Barnard Marcus (another Foxton’s wannabee judging by how they over price everything) at a heart thumping £650K! Judging by the current market, I no doubt believe this house will sell very quickly even at this new inflated price. http://www.sequencehome.co.uk/detail.asp?t...mp;id=NML100853 For people like Realist Bear, I implore you to look at the following EA websites to see the properties being snapped up and being under offer to give you a snippet of what is happening in SW London., specifically New Malden, Kingston, Surbition & Wimbledon. http://www.curchods.com/ http://www.palladianestates.co.uk/ http://www.lordsonline.co.uk/sales.htm How can we be near the top of the HPI in the South East when we haven't even seen a slowdown ?..
  5. Amethyst, RB is always right, don't you realise?.. The HPI has all been a conspiracy., and we are in the throes of a HPC since the last few years.
  6. RB reminds me of those footy fans whose team is down 6-0, and suddenly get a goal back. The chants then start up that they are going to thrash the other side or are going to win the league. However, most of that is done in jest to irk the (winning) opposition. However, RB is as bad at spinning the news as any politician. Didn’t he tell us the crash was going to happen in 2005, or was it 2006, or was it in January 2007? Prices may have dropped 2.7% qtr-on-qtr in Gtr London, but they were still up by over 8% over the year, and far more than that in more salubrious parts. I still think proper price drops may happen eventually, so RB, you are hardly a great sage in predicting that, and it is possible the North & Midlands will suffer first as the salaries in these regions cannot justify the high prices. However, have we seen any positive proof of this yet ? Have a look at the following website to see how few properties are on sale in Kingston/New Malden, and most of the properties are under offer (especially in the £400k - £900K bracket) http://www.findaproperty.com/searchresults...amp;al=00020027 As for London, there are still more than enough buyers to sustain this crazy HPC.. http://money.guardian.co.uk/news_/story/0,,2010112,00.html
  7. Could I ask where in the country you are ? Could you let me know where the huge number of properties coming onto the market are in London or the South East, because I can't see them! Most decent properties are going for fantastic amounts in quick time. And Just because employees are asking for huge inflation busting rises, doesn't mean they will get them !
  8. I'm afraid, it is getting worse.. http://www.findaproperty.com/displayprop.a...p;agentid=04132 This house in New Malden was on sale for nearly 1 year in 2005 (I kid you not ) at £555K and had no takers. My wife and I saw the property and it was over priced then as it needed a new Kitchen, bathroom, and other decorating (obviously nothing too arduous). It was taken off the Market in early 2006 has there were no takers at that price. It then went on sale again through another agent in the Summer 2006 for a price of £585K, and it STILL didn't sell. It has now been placed with a new agent at a new price of £645K! last Saturday and the house is already under offer. Palladian EA's also told me that there were other offers made on the Saturday. The HPI is continuing here in London and don't let anyone kid you otherwise...
  9. As usual, it all depends on the area.. Each time I go back to the Midlands, I am astounded by the sheer number of properties for sale.. Come here to SW London and tel me how properties are up for sale in Kingtson, Richmond, Richmond & Surbiton.. There are so few on sale that even my free property Weekly paper had only 8 pages consisting mostly of ads!
  10. 'ShanghaiTim' , no offense taken, and I offer my apologies for MY heated response! I haven't got time today to give a propoer reponse. Stange coincidence that I have a BSc in Astrophysics My final year project was in Star formations.. Also part of the IRAS project in the mid to late 80's IRAS project looking for T-Tauri stars ( i.e very young stars.. no , I don't mean Lena Zavaroni or Michael Jackson !), then did a MPhil in Nuclear Physics/ Medical Physics, so think I know a few things, but haven't really kept up with developments since the early 1990's! Getting the dust hot is a crucial point, and thats why alot of star formation is triggered near hot blue stars! Please note, my understanding is that Fusion ONLY happens AFTER the star mass exceeds a certain amount. But, like I said, I last wrote a paper on this in 1987, and there may have been some more up to date theorys about the temperature gradients in dust clouds. I will "google" this myself and check !lol
  11. Did you get out of the wrong side of the bed or something to write such a virtriolic post ? I wrote a post about a complicated topic at a level made for people who probably won’t be Nuclear Scientists, you KN*B! I didn’t spend my time googling up something I have no idea about and cutting and pasting it on here trying to look intelligent as you plainly have. You are either completely thick or haven’t read my post properly. My comparisons about what happens in space is wholly true as stars only start their nuclear fusion after going through gravitational collapse of dust and matter. Could you explain to me how we are going to arrange some gravitational collapse of some household dust to initiate fusion on earth? My Nuclear fission as a trigger analogy holds true in H bombs. It is used simply to bring the temperatures up to allow fusion. Obviously other heating methods are used in the labs, such as the Neutral Beam injection of heated ions/atoms and other step-up methods to bring the temperature of the Hydrogen isotopes in the plasma to a figure that allows fusion. Shall I go on?
  12. Apologies if this comes across as being pedantic, but Fusion is the process of fusing lighter nuclei into something heavier. What physically happens in a reactor on earth is different to what happens in space et al! Joining the nuclei of different elements together requires terrific energy in itself, and the only known way us humans have managed to create this energy/temperatures is in a nuclear fission reaction. This is the principle of how an H bomb operates. A separate Fission bomb detonates (using either Uranium 235 or Plutonium as the source). This creates the necessary temperatures and energies that allow the hydrogen nuclei to fuse to form the Helium Nuclei. The energy emitted can then be calculated by Einstein’s famous equation: E = mc2 , where m is the difference in atomic masses of the hydrogen and Helium nuclei. Therefore, it IS true that us mere mortals require Uranium and/or Plutonium to even contemplate fusion reactors. Our main problem lies with CONTAINING the heat and radiation/charged particles created in such situations, and this is where tokamak enabled magnetic fields come into it!. Just give me a shout if you want any more info. I trained as a Nuclear Physicist and have Reactor experience in both Civilan and Nuclear submarines !
  13. Hmmmm.... Yes... Never thought about that... There again.. if I can just convince the Vendor..... Thanks for your reply Kind Sir!
  14. My wife & I looked at a few houses to buy earlier this year, and put in some offers on two of them about 8% below the asking price. Naturally, these offers were refused as both the sellers were expecting something close to or at the asking price. I obviously refused to increase my offer. One of the houses was taken off the Market in August after being on the books of 2 Estate Agents. The vendor subsequently let the house out to tenants. For reasons that are too complicated to explain, we managed to get the mobile number of the owner and after a lot of haggling, the owner has agreed to a price suitable to both parties (effectively saving us £30K, possibly more on a notional basis, as the negotiations have been based on the value of the house from 10 months ago, and prices here have risen considerably since then). The price agreed is dependent on the vendor not having to pay the Estate Agents fees as we are conducting this sale privately. Does anyone know how the small print works with sales of this nature? Any contract completion would be after April 2007 after the tenants leave, and is at least 6 months after the owner took the house away from the hands of the greedy EA’s. Could the EA still try and sue the owner for to claim the fees? Is there a cut off point for where the EA has no legal redress? I’m sure I am going to get lots of replies telling me to wait for more price drops, but this is Kingston, SW London, and a price reduction of this “magnitude” in the current market is rare!
  15. Yes, agree with his sentiments, but WHAT will the trigger be RB ? None of these HPC warnings are in the main News media or newspapers... so as far as Joe Public are concerned, house prices are set to carry on going up...
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