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House Price Crash Forum


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Everything posted by Ash4781

  1. https://www.bbc.co.uk/news/business-44202542 “There has been a "significant" rise in homes being valued at less than what buyers have agreed to pay, the UK's largest mortgage advisers have said. These "down valuations", by lenders, can mean buyers having to pay thousands of pounds extra, up front, to avoid the sale collapsing. Estate agents Emoov said it reflected surveyors predicting a financial crash.” Ok so that article is from the BBC publication for the Victoria Derbyshire programme. There aren’t that many facts it what to be honest is a publication piece. Still the article does tally in with the OP.
  2. Interesting chart. What level of support is there on the downside? The trend looks rather sharp for flats.
  3. Love the idea of someone empting millions of litres of perfume into a waste energy site. What do you burn here ? Burberry blue (or whatever it’s called). Still I imagine they must have tight controls. Some kind of midnight ritual by the board burning Burberry bag mountains.
  4. Yes have to wonder whether he’s close to showing his strategy. Most of the press articles I saw reported as speculative investments in other retailers but has to be more than that. Corporate governance seems exceptionally weak at Sports Direct.
  5. https://www.bbc.co.uk/news/business-44882971 “Sports Direct has reported a sharp drop in annual profits, in part due to its exposure to struggling department store chain Debenhams. Pre-tax profits fell to £77.5m in the year to 29 April, down from £281.6m the year before. The drop was partly due to a £85.4m hit the retailer took on the value of its near-30% stake in Debenhams.” Good grief. Maybe there is a plan yet to be revealed?
  6. Down we go again. The CPI inflation release highlights pricing difficulty in the area of men’s fashion.
  7. I think they have conflicting strategies in that they need to invest in web business,marketing, transform stores (including closures, revamps) but on the other hand cut back capital expenditure because of the cash flow position on the falling margin. They are walking a tightrope. Difficult stakeholder management.
  8. One thing I saw recently was a neighbour who bought 2years ago for approx £300k ‘sold’ for £400k recently. However, the visible owners did not change, car etc. I didn’t look into it too deeply I guessed maybe he sold the house to his owned company or something. Presumably some kind of tax or finance efficient effort. I didn’t delve further.
  9. From OP “Doug Shephard, director of Home.co.uk, said: “Slashing the asking price is often regarded as a last resort for frustrated sellers. On the other hand, what else do you do if you need to sell in a sliding market like London is now?” Blimey. How bad is it London ?
  10. Thanks. I am not sure if I am reading the graph correctly - average sales per surveyor (branch) last 3 months were around 15? Seems low. Although stock is at record lows they are converting well into sales but their shelves are empty . I did some quick maths for 15 sales over 3month on a 1% sales margin at 300K and it looked like a bloodbath. I suppose we don’t know stock levels at non RICS eg. The online agents. I suspect they have gained market share.
  11. Can’t find a charging point just use the lamp post across the road?
  12. http://www.thisismoney.co.uk/money/buytolet/article-5892635/Should-max-buy-let-mortgage-borrowing.html “In the past few weeks alone, both Virgin Money and specialist lender West One revealed they will now allow landlords applying for a buy-to-let mortgage to use both the property's rental income and their own earned income to get them past tough affordability thresholds. The approach - known as 'top-slicing' - is on offer from a growing number of buy-to-let lenders including Barclays, BM Solutions, Precise Mortgages, Vida Homeloans, Kent Reliance, Aldermore and Metro Bank.” Lol so the sums don’t add up but the lender lends a helping hand. Fill your boots. The article does caution - it has the potential to go very very wrong! (For the landlord)
  13. https://www.bbc.co.uk/news/business-44739012 “Tens of thousands of £1m-plus homes have been sold in the last 10 years - but in 16 areas of England and Wales no property topped the £1m mark.” I expect the BBC wanted an article on the page for Saturday. It’s quite disappointing really because the ‘research’ just appears to be a database query and matching table. Sigh.
  14. It would be useful to have volumes charted though would have to come in from bother data source. I suspect we have recent falling values and volumes. This would tally with the number of EA’s experiencing financial difficulty - their cash flows are shot to pieces.
  15. Nice chart. They’ve looked not far enough back. I wonder why! edit: the article is also ridiculously light on analysis.
  16. Suspect it’s just kicking them while they are down. The housing market has huge problems why buy them just pickup the brand assets later. Although the share price on a percentage basis is moving upwards today.
  17. £67 a month on fuel ? I do low low miles and spend £20/week on fuel. edit: and I’m close to ditching the car.
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