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House Price Crash Forum


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Everything posted by petetong

  1. Are those real figures for asking prices vs sold prices ?
  2. I'm not saying it will go up forever, well that wasn't the intention although who knows maybe they'll introduce multigenerational mortgages, just that I can't see it dropping significantly. At best from my point of view it will just stay where it is now, particularly for houses in demand areas although by me they are still increasing in price.
  3. There was some discussion on radio 2 about house prices a few weeks ago and a builder in cornwall said they had sold up to get a bigger place, and were going to wait a few months to buy something that they really wanted and in the meantime they have been completely priced out.
  4. Evidence the last decade or so: https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp Ever increasing population for one and the various props by the governments another. I'd love them to crash by a massive amount but just can't see it. Explain to me why it will ?
  5. It seems as though the old norms don't apply now though. Near zero or zero interest rates are here for the long term now, together with ever increasing demand due to various factors, so house prices are only going one way, and that ain't down. Absolute economic carnage would need to occur with mass repossessions for prices to drop significantly and can you see that happening ?
  6. Nothing obviously. To expect anything else is really not believable at this point. They've even said as much, it's supported a large sector of the economy during the pandemic however negatively that effects the likes of you or me and if they did let it drop significantly there would be an outcry over negative equity. No chance now, they will prop it up come what may.
  7. Certainly has gone mental. I remember seeing a small detached in southern Cornwall in a decent state, was on for 6 months for £235K from Nov 2019 to June 2020, then it started to all kick off and it was gone, that would be excess of £400K now and gone in a day. Around here, prices have gone from up nearly £100K in a year for semis, so now £400K or more. Seems to be a lot of Londoners moving up country.
  8. Yeah true, I've seen far worse but came across this one today.
  9. https://www.rightmove.co.uk/properties/111573560#/?channel=RES_BUY Bought for £255K in 2021, now on sale for £280K in 2021, so £25K increase in a matter of months. I've heard of flipping but that's taking the pee ..
  10. Are individual savers, with presumably under 85K, classified as unsecured creditors ? This note seems to suggest not in their waterfall diagram: c) This includes most unsecured liabilities (unless subordinated); commercial or trade creditors arising from the provision of goods and services; uncovered depositors (eg financial institutions); covered depositors that are not individuals or SME for amounts in excess of £85,000; any unsecured liability for pension deficit; and senior unsecured bonds. In the waterfall diagram individuals with £85K or less are classified as: Ordinary preferential debts (or ‘super-preferred’ debts)  Any amount owing in respect of an eligible deposit as does not exceed the compensation caps under the FSCS (up to £85,000, up to £170,000 for joint accounts and up to £1 million for six months for certain qualifying temporary high balances). Presumably that means savers below limit will get their money back (??) assuming there is some level of trust/credability to this.
  11. Yep up near me, a northern city, still seems frenzied with bidding wars for anything decent but EA was saying to me today it has calmed down a lot. I really can't get me head around the frenzy being caused by stamp duty holiday, as the increase in prices massively dwarfs that, so totally nuts. I suppose it's the fear of missing out and the covid effect too, the for need a garden and working from home which is probably ending for a fair percentage of people, and the old reality is starting to come back.
  12. At best I can see either stagnation or minor decrease in house prices as stamp duty holiday finishes, why that matters when people are paying many more times any stamp duty saving is beyond me but it probably will have some psychological effect and potentially so will a minor interest rise. I really can't see a big drop happening, people will just leave houses on at whatever they think they are 'worth' for years, see some like that already, unless there really is an economic implosion and mass job loses like the early 80s, which seems unlikely.
  13. Which area of the south coast ? Does that mean it's on for £800K rather than £1 mil ? 😉
  14. Redeveloped or not, £500K for a bungalow in chesterfield, someone is having a giraffe ...
  15. Definitely, lots of people from London buying in my neck of woods, big city in north, EA's having been saying so, buying without seeing, prices have gone up by £100K to £150K for something that cost £250K just over a year ago.
  16. A couple of typical house on market I've spotted recently, one bought 2018 for £190K, previously bought for £170K in 2012, so a £3K a year rise between those two dates, now selling for £325K and £345K, so a £40k to £50K year on year rise between 2018 and 2021: https://www.rightmove.co.uk/properties/110993948#/?channel=RES_BUY and another example bought for £230K in 2018 now want between £475K and £500K, so a year on year between those two dates of £80K to £90K a year: https://www.rightmove.co.uk/properties/107735372#/?channel=RES_BUY As was said on here the only people who will be buying now are those already with a half decent house/skin in the game, and even then I don't see how this can last but no doubt it will somehow. I've been totally outpriced in the last year, so well done Richi ...
  17. I think this was on £400K for around a year to 18 months, no takers strangely enough. Somehow it's classified as a link detached, i think the thought being it is linked to another house via the party wall ... 🤣 Taken off the market, new photos and bit cheaper: https://www.rightmove.co.uk/properties/109937930#/
  18. £450K for this: https://www.rightmove.co.uk/properties/108078626#/ paid £190K in 2014. A house in same block sold for £250K this year, needed a bit of work but nevertheless... Someone with more money sense will probably buy it though. 🤣😂
  19. Fortunately I never went through with buying any crypto as I came to the conclusion that I would be buying at the top end. Well to my surprise I was right for once (at the moment). I still maybe some low price crypto (algorand or something similar) for a pure speculation at some point, but no way would ever fork out real money for any of it, just too volatile and speculative for my liking. Plus now governments definitely have it their sights.
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