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House Price Crash Forum

xxxx

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  1. At the moment! There is a real frenzy from investors at the moment, buying up North. Can’t see furlough finishing, maybe in a years time and then will be UBI. The housing market will crash, I just think there is a few more years to go.
  2. There are 2 completely different property markets at the moment; the North and South. Here in the SE, prices are falling, hardly any are selling and lots of supply coming on every day. Repos now going to auctions. People are heading North for cheaper housing. You are still looking at around £300, for a 2 bed terrace. The salary multitudes of this, is impossible for ftb. The North is currently booming. The great levelling out of the UK housing market. Lots of regeneration and investment in the North and investors are piling in. Us southerns, can’t believe you can buy a 3 bed semi
  3. Thanks. Still not. The budget will make it a lot clearer when the housing market is heading.
  4. I know. It’s madness! You only have to get a tenant that can’t pay their rent, which is highly likely right now and the deck falls down. They are so leveraged up and reliant on the rent payment. If furlough ends, they are finished.
  5. Unfortunately this is the case. Many of the investors I deal with are loosing their full time jobs and obtaining mortgages whilst still in employment. The market (most areas) is definitely cooling and prices are coming down. Where we go from here depends on the budget next month
  6. There is currently about 613,000 sales stuck in the conveyancing process. Seeing as it’s taking on average two and half months at the moment for local search as LA’s working from home and go in once a week to do, they have huge backlogs, many could miss out. Seeing as their stamp duty saving went to the vendor, in the increased value of the property, many will be liable for cost, thus in theory, paying stamp duty twice. It’s madness!
  7. Solicitors are asking clients to agree to a disclaimer that states they will not be held responsible for additional stamp duty costs if completion is after extension ends.
  8. It makes me so angry and sick to the stomach of what they have done to the housing market. Young people and families can long longer afford to buy their own home and are outbid by interest only investors. These investors then evict tenants and re-market as they can get more rent. It’s immoral and greedy. I will be cheering the loudest when the stamp duty holiday is not extended.
  9. The decision on whether to extend SD and furlough was made when the budget date was announced. Furlough was extended for a further month (from end of March, until the end of April), to fit the plan, which enables employers to give the legal required consultation period for redundancies.
  10. Yep. Fingers crossed this is the trigger we have all been waiting for.
  11. The talk is rents will increase. There will be a huge demand for rental properties as mass unemployment hits. HMO’s will be popular for renters and are the creme of the crop for investors right now.
  12. I am fairly certain that the stamp duty holiday will not be extended. If it isn’t, it’s game over. Multiple chains will break and the bubble will pop. It’s unbelievable that the bubble has continued to inflate over the last year. A 3 bed terrace in my area is £350. How is this even possible? Who are buying these? Furlough will not finish, it will be transferred to UBI. I am 100% certain that house prices will fall this year. There will be greater falls next year. I still stand by my theories, from the start of Covid, that the economy will crash and reset in 2025. At the end
  13. So why are you so bothered that house prices are about to crash? Why are you not enjoying your home and on a house price crash site? Why do you gloat at the renters on here trying to make a better life for their families? It’s not nice.
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