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House Price Crash Forum

equitystasher

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Everything posted by equitystasher

  1. I have been watching the Brighton housing market closely for a year in the price range you have bought. I can honestly say that there have been price reductions since the peak in the summer. I have viewed houses that went for £250,000. The same houses on the same street are on the the market now for £229.950 that are in similiar condition.And this is not just one area. This is a pattern that I have seen emerging since the onset of winter. The houses that are on for last summer prices are simply not budging and there are plenty of them. The amount of houses for sale in my search has doubled and is creeping up.House that sell are ones that have dropped there asking price 10% and have probably been bid down a little more. Prices in Brighton have grown to at least 9 times local wages. Is the top BTL place outside London. Brighton suffered badly in the last crash and this time it will be as bad if not worse this time around.I can't understand why at 25 you want to spend your days servicing a huge mortgage having paid investor bubble prices. Why not have a landlord subsidise your housing while you save towards your future house and reducing your future mortgage and being able to live comfortably and remaining flexible? Buying at the top of the market is not a sensible decision as a wait and see approach is currently paying off.Well it certainly is for me. I am even more surprised that you have bought after lurking here for the last 6 months especially with what has been happening in the financial world. Good luck.
  2. Biggest BTL funding tap about to be turned down to a drip? I hope so
  3. 2004 prices are a good start considering we were at the peak 6 months ago. I am waiting for bigger drops.Something in the region of 2001/2 prices and I may consider it.
  4. How about new price stickers http://www.rightmove.co.uk/search.rsp?lo_u...e=1202457644938
  5. I am now seeing the amount of property in my search criteria edge up again since it fell back in December. Originally when I started the search back in Febuary last year it would include 5 pages. Now its 10 pushing 11. I am seeing some price falls on a limited amount of property. Prices are edging down. I expect its going to take another 6-8 months before we start seeing significant falls. I am also keeping a eye on 2 bedroom rental flats as I am looking to rent. I am also seeing rental prices drop. Anyone else seeing this?
  6. So the property ramping rag The Argus is switching sides The advertising revenue from the Estate Agents must be falling off a cliff When this hits the news stand in Brighton it should cause a few BTLs hopefully call their agen and get their property on the market.
  7. The Police have always been well paid and had generous benefits compared with other public sector workers. This is in part because of the fact that they have given up their right to strike and the position in society that they hold. I feel they are overpaid and have over generous overtime and benefits but I support their action. This goverment is a bunch of spivs who are totally dishonest. As with many public sector deals the Police and Government agreed to accept a pay award decided by a independant body. The body decided 2.5% and the goverment have "spun" the award reducing it to 1.9%. Brown and his henchmen have shafted the nurses and other public sector workers by pulling the same stunt and they should not get away with it. People should be supporting the Police not because of the pay award but because this government is so dishonorable. edit for typo
  8. Thanks all for your helpful replys. Tigs thanks for the offer. I will probably take you up on it. I have been keeping a eye on rightmove and rents actually seem to be dropping. Lookiing to move about March April time so will probably give you a shout then.
  9. So if the interbank rate declines after the 31st of Jan could we see the attractive savings rates start dropping along with lending rates? Or will the credit crunch ensure that these rates stay high?
  10. oh yes...and what unenforceable rubbish should I be looking out for in the contract?
  11. So a AST for a year is quite common then? Does that mean that anything longer then this is counted as long term rent?I presume that if I am negotiating for a year I will be able to use this postion to haggle on the rent. Does the letting agent have to supply information if asked on the landlord in regard to how many properties he has and whether he is a professional?
  12. After STRing and moving back in with parents in June I am now looking for a two bedroom flat to rent with my girlfriend in the Brighton area. Having not rented before I have looked through this forum and at the shelter/citizens advice to try and get a feel for what its all about. I am looking to rent longer than 6 months so I assume this classes as a long term rent agreement. There seems to be plenty of information on AST as the majority seem to enter into this. Is this for a particular reason that is in the renters best interest? Ideally I would like a term of a year at least as I want a bit of stability so any advice on long term contracts (if this applies) would be very helpful. Also bearing in mind I am a complete novice other advice that you may think will be of use to a novice will be appreciated. Thanks in advance.
  13. My girlfriend went to a wedding last week and got talking to a London EA. She says that the market is completely dead.She apparently has never know it so quiet. She is about to go off on maternity leave which she is grateful for but thinks she will not have a job to go back to. oh damn can't edit title
  14. It only started first in the U.S so the ill informed media believe it is the cause. U.K banks know we are in it up to our necks and they are hoarding cash for the oncoming bankrupcies.
  15. Hmmm ok here goes. Halifax-March Nationwide-March Land registry-April
  16. Spline quoted a approvals amount at which the property market would see marked falls based on historic figures from the last crash. Can anyone remember what that figures was?
  17. I was thinking this also.But I was also thinking that if banks want to bolster their balance sheets won't they just take these loans and lend them on with a nice tidy spread to bolster their balance sheets? Also the amounts of money that are required by the banks are huge so isnt this just a attempt to stop the banking system going bust rather than keeping the party going?
  18. I am interested in knowing this? What rates our available?Are you covered by FSA if the bank collapses?In other words.Which is the best account?
  19. Still not seeing much in regards to price moves.The odd house discounted but nothing significant as yet.
  20. The program finished with Ray Bulger forecast of 3% drop in house prices next year Thats enought to keep any listening BTL or first time buyer away from the market
  21. I have my fund in the Nationwide e-bond,Sainsbury's Bank,Icesave,Capital One,[email protected] direct ISA and both issues of [email protected] index linked certificates. I would like to put more into the certificates but they have not issued anymore for a while. Does anyone know how often they issue these? Am I correct in saying they will probably not issue more for awhile because they are probably getting a steady flow of savers at the moment?
  22. Does HSBC have vested interest in a crash? I know they sold and leased back there HQ in London. Does anyone know if they have done the same with their branches?
  23. I would invest in [email protected] index linked bonds 3-5 year. R.P.I should be singing along for a year at least.Some in a Nationwide fixed bond.Icesave.Sainsburys saver,ICIC,[email protected] direct ISA. Rememeber to spread the money around different banks just in case edited for typo
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