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House Price Crash Forum


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About depaulo

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  1. Things have gone totally mad here in Herne Hill. I went to see this house http://www.rightmove.co.uk/property-for-sale/property-14150472.html?pageNumber=1&fromSummary=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E85409%26insId%3D1%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26_includeSSTC%3Don%26x%3D81%26y%3D11%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse when it was on for 750k i think it was. It was in the middle of the crash and nobody bought it. The woman said it was valued at 900 at the peak. so there you go... Not sure what has happened around here but this isnt an isolated case sadly. Prepare for a huge jump in the rightmove figures for jan.
  2. Have been watching this area closely for the past 18 months. Prices are dropping massively. Have seen lots of big drops on nice houses. Up to 20% at least. The number of things on the market has dropped a lot though. An estate agent told me offers that are coming in are low, low, low. I went to see a wreck in Dulwich for high 800s. Offers were coming in about 500 apparently. Nice!
  3. I have just phoned them about this property. This reason it didnt sell was because they wanted 600k to renew the lease! On top of the 285k return the true cost of the property was 885k. Rather dissapointing that they are not giving stuff away for free yet.
  4. NO WAY! I nearly went to view that place about a year ago. In fact I think we even had a booking to see it but had to cancel the trip. It has been on the market for ages! It went off for a while and came on again if I remember correctly. Looks like a really nice house actually and is a great area but in all the time it has been on it has not been reduced in price once and always seemed to be a bit on the expensive side.
  5. We have looked at a house in se24 reduced from 825 to 700 and he said he would take 650. Seen another house from 650 to 600 and said they would take offers. Lots not selling (some are admittedly). Where we sold our flat (SW2) am seeing lots coming onto the market and LOTS of reductions. Work in SW19 and the whole place seems to be up for sale. I think things could actually be on the turn here in London!
  6. Been looking at houses in SE24. Went to see a house which was initially on at 825k was now on for 700k and the seller told me straight off they'd take 650k. Has sold now.
  7. Was thinking about this and decided that if the BOE drop rates agressively like they are suggesting even though inflation is going up then lenders would still have to keep their rates high. The reason for this is that the money they are lending you is devaluing all the time due to inflation unless their rate is high enough to take this into account. Am i missing something? If not then we dont need to worry too much about the very high inflation/low rates situation saving the housing market.
  8. Our area (Herne Hill (not quite dulwich as well)) has had the most incredible hpi over the last 12 months. we looked at a house last decemember that needed a bit of work and was on for 475 went for 535. I am sure this would go for 1 million now. I am absolutely gutted i moved here and rented. Things have slowed but things are still selling and stuff coming on for 30% more than they were bought for 4 months ago.
  9. Looking at how the ftse just leapt up for no apparent reason, i think the figures have been leaked and it is going to be loooooow.
  10. Been watching property around us SE24. Not much going on, and nicer stuff still selling though this house has so far come down a 100k! and it looks pretty nice! <a href="http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=631015&agentid=09982" target="_blank">http://www.findaproperty.com/displayprop.a...p;agentid=09982</a>
  11. You have to remember that the land reg figures you have there are for sales agreed anywhere between 3 and 6 months ago. This sadly means that its hard to figure out what is really going on at the moment. Lots of anecdotal evidence for drops/slowing though and i am seeing reductions in the area i am looking at on propertysnake. Sadly though no one really knows what is going to happen in 6 months. Be careful who you believe. Trust your own eyes and ears not what you read on here.
  12. The missus and i were talking about this last night. The government coffers aren't exactly overflowing at the moment so they are very dependant upon getting these loans paid back by 1NR. In order to get the money back from NR we need to avoid a repeat of the US Sub Prime problem happening here (in this case the dodgy lending is already on NR's books). Now the government simply cannot let this happen or we will not have a sub prime banking crisis but have a sub prime government crisis and we will all be screwed. Therefore they need to drop IR's and drop them fast, allow inflation, and basically do anything to avoid a house price crash. I have a horrible feeling this is now the only option for the future..... Anyone agree? Please tell me i am wrong!
  13. The woman that works with my wife is selling and buying at the moment. The surveyor doing the valuations for the mortgage companies valued both properties below the agreed prices, so both sellers had to lower the price they were selling for. Her estate agent said that last year they had 2 instances all year of this happening. This year every other flat (not houses sadly) is having the same thing happen. This is in Battersea and Earlsfield! (both London in case you're not from round these parts)
  14. Called up by agent today telling asking me if i was interested in a house which had come down 50k to 400k. This is in South London SE19. This is the first time this has happened to me in the last year. I am however a bit concerned that supply does not really seem to be increasing around where I am (SE24).
  15. What part of the country do you live in by the way? Dont have to be too specific if you dont want to be...
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