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Voice of Doom

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  1. http://www.chiswickw4.com/default.asp?section=property&page=stats1911.htm In essence, EAs saying sellers are over-valuing their houses which is leading to a dearth of transactions. Some choice quotes: "The latest data release shows a continuing grim overall picture for activity in the Chiswick property market." The situation is even bleaker for flats which normally make up the majority of sales in the area but the number of transactions in this kind of home was just 37 in the three months, close to an historic low." A local EA says: "A high percentage of agents are still overvaluing property to simply win instructions." "The sharp decline in the number of flats changing hands alongside the more sustained activity for family houses is creating the illusion of rising values." The above has been said countless times by posters on here. What's different on this West London forum is now even EAs are saying it. It's a definite shift.
  2. Likewise on both counts. Much as I would like to hear more stories of landlords selling up - and bigger monthly falls - perhaps it makes new housing market "support" measures less likely.
  3. Ha! Seriously, good luck. Would be great to hear how you get on. And back to the index...although the Halifax one has been all over the place, any index going down is good news. When I tell family prices will go south because of S24, end of TFS, etc., I get little traction. Too technical. Halifax or Nationwide down...eureka!
  4. The Guardian often asks these guys to comment on the figures. The shift in language is notable.
  5. Once we are indisputably in "this is it" HPC territory, I do wonder if it will have been on a seemingly arcane thread like this that the the first tremors were outlined. Some time in 2021... "So, what were you doing when you first heard the news that the repo market had frozen?"
  6. I'm not sure where we are either but I do know it would be an unfortunate birth mark for an Estate Agent.
  7. It's round the corner from me too. Good to see such a drop. And I doubt it's finished yet...
  8. So not even Help To Buy has helped support prices? Investors must be getting nervous. Lots of developments are still to be finished around my way (West London). Right. Must now go and wash my hands having typed HTB...
  9. I know they are other fiat currencies, but this is an example of non-financiers/"real people" losing faith in a currency. https://www.theguardian.com/culture/2019/aug/04/edinburgh-festival-performers-avoid-sterling-brexit
  10. I agree. I wonder if the Minsky Moment will come from a known unknown, such as the shadow banking sector or an unknown unknown.
  11. I love this thread, and feel the massacre is not far away. If some threads deal in theory, others - like the index one - deal in how the battle front has advanced or retreated, this is the one for individual casualties. You can smell the fear.
  12. Great find. Every cloud has a silver lining though. At least the landlord won't have to pay CGT!
  13. Thanks for posting this. Interesting to see a property investor effectively saying get out now/soon then back in when the recovery is clear. A change from get in now before the prices get even higher. If landlords/investors act on this in any numbers, the falls will of course become self-fulfilling.
  14. That is a good spot! I expect to have more grim/great news from this neck of the woods in West London soon.
  15. But it has a heated towel rail! Actually this place is not far from me. They will struggle to sell as there is a glut of new developments in the area, including on the Acton/Chiswick border. This is a quote from a local article on the market. The article also states bugger all is selling. One local property practitioner who asked not to be named said, "Help To Buy is significantly distorting the market at the moment. It is artificially inflating the price of flats up to the limit of £450,000 but making any unit in the range above that practically unsellable. Only 3 out of the 60 or so flats sold so far this year were for prices between £450,000 and £500,000. http://www.actonw3.com/property/stats1905.htm
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