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House Price Crash Forum

BearNecessities

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About BearNecessities

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  1. +1 It's like Judgement Day in the terminator films. Also I reckon we might see double digit falls as early as 2013
  2. very little if none. I knew Nick (I can't say why or where from) and when I knew him circa. 2009/2010 he was a broke and broken man
  3. Phone the EA up and point out that the house was first marketed at £x on y date, this then increased to £z on w date. State that you are possible interested but considered the property undervalued and would like them to increase the asking price again before you are prepared to view it. see what they say
  4. There seems to be some anecdotal evidence that for the first time since early 2009, house prices in the south and in particular commuter areas around London are properly falling. I wonder, that given that these properties are priced nominally very highly whether this might kickstart a HPC and get us some decent YOY falls in the next few months. This is my theory about what has been happening over the last couple of years, where the surveys would have you believe that house prices have been steady. Bog standard house somewhere up north has been falling about 10% pa. Original Value £100,000,
  5. Something is definately afoot since the Olympics. In my area (SW Herts) there were 42 separate price reductions in the area I was monitoring in September (previous monthly record was 33 in 3 years of monitoring). The rout has continued into October with 11 further reductions in the first 5 days
  6. There was a pause for breath in parts of the south east at the same time the north was going mental
  7. Update for WD3 area, previously very hot in terms of high house prices. Now 42 reductions in September (nearly 70 if new homes and those that have since gone u/o are counted). In 3 years of monitoring. previous monthly record was 34. Also proportion of homes on the market with reduced prices now over 40% for the first time in 2 years. data from Zoopla - so impossible to tell whether many are coming back from SSTC but I have seen a few that I remember. Some big drops (around 15-20%) also appearing. Cheapest 1 bed flat is now under £140K Cheapest 2 bed house is now £210K Cheapest 3 bed hous
  8. I monitor my area (WD3 - Rickmansworth / Chorleywood) using Zoopla. Generally prices have been steady or have edged up slightly in the last year and are not that far off 2007 levels. The number of reductions struggles to get past 20-25 per month against an average stock of 180-200 at any given time. I am encouraged that so far in September there have been 23 reductions and the stock level has increased towards 250 (not sure if that is because Zoopla have more agents than before, or more stuff is coming to market). The area is really overpriced. Flats £180k+ 3 beds in crappy ex council areas
  9. Sadly for all conspiricy theorists, it is a co-incidence. Have a friend that works in IT there. They have been having trouble with the banks mainframe system for nearly a week and it fell over completely yesterday.
  10. Syriza almost certainly finishes as top party in any new election, which with their 50 bonus seats would allow them to form a coalition with anti austerity parties, which in turn means Greece will have to exit the Euro.
  11. Very anecdotal I know, but my own HPC index has shown signs of taking off a little in the last couple of months. Without boring anyone with the mechanics, its an index derived from the relationship between the number of new instructions, number and level of price reductions and number of properties going SSTC. It's not that scientific because I just use my postcode area and data from Zoopla. That said in the 4 years or so that I have been doing it, the index has more or less tracked the LR index for my area, albeit with a lag. March and April (so far) have seen the HPC index reach it's high
  12. Most think tank reports have political bias, so you have to take that into account and normally treat with large dolops of sodium chloride. I think history will actually show that the stimulus spending efforts of the last administration were largely ineffective, whether they were actually damaging is quite a long way further down the road and I'm not sure I agree that it was. In a normal recession what they did might have worked but a debt depression is another matter entirely. One could hardly expect them to know the difference given that it was long after the horse had bolted that they ac
  13. mind boggling isn't it. not the most expensive in the area however. http://www.zoopla.co.uk/for-sale/details/14707152?search_identifier=8d071998d544d1b089c9ff8092a1b84a
  14. http://www.zoopla.co.uk/for-sale/details/4383326?search_identifier=0e3272c4f9e97c46fa032d805760975e They did - They increased it by £20,000.00
  15. I disagree strongly with a mansion tax Houses are highly illiquid as a measure of wealth. Raise CGT and cut income tax, so they are at the same level and then charge CGT on all property sales. This could even be done retrospectively if sensbly tapered off.
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