Dopamine Posted February 7, 2009 Share Posted February 7, 2009 Big headline on homes wales today - "Buy Buy Buy!" Story here: http://www.walesonline.co.uk/2009/02/07/re...91466-22874727/ Cardiff agent reporting "It's been bonkers" Elsewhere in the paper there are reports of an 'insolvency epidemic". Bull Trap - Fab. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 7, 2009 Share Posted February 7, 2009 http://www.housepricecrash.co.uk/forum/ind...howtopic=103936 No worry, just relax, be happy. Quote Link to comment Share on other sites More sharing options...
marty Posted February 7, 2009 Share Posted February 7, 2009 Big headline on homes wales today - "Buy Buy Buy!"Story here: http://www.walesonline.co.uk/2009/02/07/re...91466-22874727/ Cardiff agent reporting "It's been bonkers" Elsewhere in the paper there are reports of an 'insolvency epidemic". Bull Trap - Fab. What the spokesman for John Francis or other EA’s in the same situation don’t say is that they rely for their sales figures on their auction sales where they flog in one afternoon more property than they have sold through their offices all week. Naturally they don’t publish the figures they realise for the auction properties because most are repo’s selling on average at 36% below their market value!! Tossers!! The old adage is always true, “Never believe a word an EA tells you” Quote Link to comment Share on other sites More sharing options...
Dopamine Posted February 7, 2009 Author Share Posted February 7, 2009 ! Tossers!! The old adage is always true, “Never believe a word an EA tells you” Exactly - I wish there was a way to publish as a counterpoint the fact that the unadjusted halifax figures showed a 0.7% fall in prices. Adjusting is only relevant in a normal market, which this market, erm....isn't. Quote Link to comment Share on other sites More sharing options...
gus Posted February 9, 2009 Share Posted February 9, 2009 Big headline on homes wales today - "Buy Buy Buy!"Story here: http://www.walesonline.co.uk/2009/02/07/re...91466-22874727/ Cardiff agent reporting "It's been bonkers" Elsewhere in the paper there are reports of an 'insolvency epidemic". Bull Trap - Fab. Looking at the Herbert Thomas site for Cowbridge today where prices are still up in the strato. with 450K for a mid-terrace in the middle of town . Misleadingly described as a "town house" but it's just a mid -terrace plain and simple. Mind you , 150k for an ex-council, 3 bed semi in Bargoed or Blackwood is still equally just as ridiculous . Frankly, I am confused . I don't know whether to believe the EA who say that despite their pleadings vendors will simply not adjust to the new order and drop prices , or is it the case that they really are universally complicit in the refusal to do what is necessary to move the stock ? Prices and stock movements are only going in one direction for the foreseeable future and it ain't up. Quote Link to comment Share on other sites More sharing options...
bmw Posted March 8, 2009 Share Posted March 8, 2009 Looking at the Herbert Thomas site for Cowbridge today where prices are still up in the strato. with 450K for a mid-terrace in the middle of town . Misleadingly described as a "town house" but it's just a mid -terrace plain and simple. Mind you , 150k for an ex-council, 3 bed semi in Bargoed or Blackwood is still equally just as ridiculous . Frankly, I am confused . I don't know whether to believe the EA who say that despite their pleadings vendors will simply not adjust to the new order and drop prices , or is it the case that they really are universally complicit in the refusal to do what is necessary to move the stock ? Prices and stock movements are only going in one direction for the foreseeable future and it ain't up. well from a surveyor I can tell you that it's been a lot busier in the last month and agents are generally short of houses to sell, prices aren't rising but they are not falling either , even selling new flats in the bay bryant in victoria wharf sold 13 flats in Feb, in an area which has been worse hit by the price falls and you can buy 2 bed repo flats at £105-120 K Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 8, 2009 Share Posted March 8, 2009 well from a surveyor I can tell you that it's been a lot busier in the last month and agents are generally short of houses to sell, prices aren't rising but they are not falling either , even selling new flats in the bay bryant in victoria wharf sold 13 flats in Feb, in an area which has been worse hit by the price falls and you can buy 2 bed repo flats at £105-120 K That is so funny - hysterical. Thanks for the good laugh! Quote Link to comment Share on other sites More sharing options...
Dave Dribble 2 Posted March 9, 2009 Share Posted March 9, 2009 well from a surveyor I can tell you that it's been a lot busier in the last month and agents are generally short of houses to sell, prices aren't rising but they are not falling either , even selling new flats in the bay bryant in victoria wharf sold 13 flats in Feb, in an area which has been worse hit by the price falls and you can buy 2 bed repo flats at £105-120 K Well done for being honest (in the first part of your first sentence - the bit where you admit you're a surveyor). Much better than all the other new posters who are appearing on this site talking up the property market and don't immediately admit they're a surveyor, estate agent or mortgage broker. Since you're a lot busier this month, how come you've now managed to find time to start posting on this website? Would it be disingenuous of me to suggest you could be trying to talk up the market as you need the business? Quote Link to comment Share on other sites More sharing options...
bmw Posted March 9, 2009 Share Posted March 9, 2009 Would it be disingenuous of me to suggest you could be trying to talk up the market as you need the business? short answer Yes it would. But the attitude on here is that no matter what anyone says the belief will be that it's all doom and gloom, the market is not great but as many firms laid off surveyors there is enough work for those of us left. Quote Link to comment Share on other sites More sharing options...
Dave Dribble 2 Posted March 9, 2009 Share Posted March 9, 2009 I'm pleased I didn't suggest it then. Quote Link to comment Share on other sites More sharing options...
1929crash Posted March 9, 2009 Share Posted March 9, 2009 No wonder sales of the Western Mail are plummeting faster than house prices, with this kind of mendacious journalism. Still, good to see a little chink of reality creeping into the article at the end. Unemployment will be a significant driver of house prices – if the rate continues to rise prices could go on falling, he warned.The Chartered Institute of Personnel and Development has predicted at least 600,000 jobs will go in the UK economy this year. In this climate the banks are unwilling to relax their lending criteria because of the higher risk of borrowers defaulting on loans, say the CML. Quote Link to comment Share on other sites More sharing options...
Dave Dribble 2 Posted March 9, 2009 Share Posted March 9, 2009 well from a surveyor I can tell you that it's been a lot busier in the last month and agents are generally short of houses to sell, prices aren't rising but they are not falling either , even selling new flats in the bay bryant in victoria wharf sold 13 flats in Feb, in an area which has been worse hit by the price falls and you can buy 2 bed repo flats at £105-120 K When you say "prices aren't rising but they are not falling either", what prices are you talking about? Asking prices, or actual sales prices? The latest Land Registry figures showed dramatic falls in the Swansea area. Where are you based then? Quote Link to comment Share on other sites More sharing options...
1929crash Posted March 9, 2009 Share Posted March 9, 2009 When you say "prices aren't rising but they are not falling either", what prices are you talking about? Asking prices, or actual sales prices?The latest Land Registry figures showed dramatic falls in the Swansea area. Where are you based then? The prices of properties that are not selling are not falling. That's why they're not selling. Quote Link to comment Share on other sites More sharing options...
CountryMove Posted March 9, 2009 Share Posted March 9, 2009 Looking at the Herbert Thomas site for Cowbridge today where prices are still up in the strato. with 450K for a mid-terrace in the middle of town . Misleadingly described as a "town house" but it's just a mid -terrace plain and simple. Mind you , 150k for an ex-council, 3 bed semi in Bargoed or Blackwood is still equally just as ridiculous . Frankly, I am confused . I don't know whether to believe the EA who say that despite their pleadings vendors will simply not adjust to the new order and drop prices , or is it the case that they really are universally complicit in the refusal to do what is necessary to move the stock ? Prices and stock movements are only going in one direction for the foreseeable future and it ain't up. My mother has had her house for sale for almost a year with them. The viewings stopped completely in October, and I managed to persuade her that she needed to reduce the price in order to sell the house. She went into their office and they advised her not to reduce the price as buyers would only knock her down even further! Having grown up there I can also imagine a lot of sellers in the area have the attitude that it's Cowbridge therefore prices won't fall, I won't accept less than etc etc etc though Quote Link to comment Share on other sites More sharing options...
gus Posted March 11, 2009 Share Posted March 11, 2009 My mother has had her house for sale for almost a year with them. The viewings stopped completely in October, and I managed to persuade her that she needed to reduce the price in order to sell the house. She went into their office and they advised her not to reduce the price as buyers would only knock her down even further!Having grown up there I can also imagine a lot of sellers in the area have the attitude that it's Cowbridge therefore prices won't fall, I won't accept less than etc etc etc though They are up there with the likes of Dawsons and GowerCoast of S'x and guilty of gross overvaluation . The prices will collapse in C'bridge, as they will too , in Chepstow and Monmouth and Bath. I'm afraid the HP thing is rapidly becoming a peripheral issue, with the real question being: " God...how long will it take me to find my next job?" I sold my last house at a significant loss rather than continue with a hellish commute. When Cowbridge loses his cushy job in Cardiff and has to travel back and forth to Reading every day for less money (if he's lucky) he'll soon drop his price , believe me.The walls of the dreamworld bubble are thinning fast. Quote Link to comment Share on other sites More sharing options...
1929crash Posted March 11, 2009 Share Posted March 11, 2009 Has anyone noticed the fact that houses with Darlows seem to be more expensive than houses with other EAs? I am surprised they have any business at all. Quote Link to comment Share on other sites More sharing options...
evictee Posted April 20, 2009 Share Posted April 20, 2009 well from a surveyor I can tell you that it's been a lot busier in the last month and agents are generally short of houses to sell, prices aren't rising but they are not falling either , even selling new flats in the bay bryant in victoria wharf sold 13 flats in Feb, in an area which has been worse hit by the price falls and you can buy 2 bed repo flats at £105-120 K Like this one in Victoria Wharf, Cardiff, which fell by 49% in just over a year? http://www.houseprices.co.uk/e.php?q=232%2...ardiff&n=10 Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted April 20, 2009 Share Posted April 20, 2009 Like this one in Victoria Wharf, Cardiff, which fell by 49% in just over a year? http://www.houseprices.co.uk/e.php?q=232%2...ardiff&n=10 I've just checked a few properties that I have sold on the website linked above and the prices are soooooo wrong. Apparently my house cost me £30k more than I paid too. Not sure where they get their info from. Quote Link to comment Share on other sites More sharing options...
marty Posted April 20, 2009 Share Posted April 20, 2009 I've just checked a few properties that I have sold on the website linked above and the prices are soooooo wrong. Apparently my house cost me £30k more than I paid too.Not sure where they get their info from. Quite right Andy, Just checked a few against results from another source. They are miles out!! Quote Link to comment Share on other sites More sharing options...
evictee Posted April 20, 2009 Share Posted April 20, 2009 Quite right Andy,Just checked a few against results from another source. They are miles out!! Really? Care to share an example...? Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted April 20, 2009 Share Posted April 20, 2009 I am just going from personal experience of properties that I have sold and also searched the purchase of my own property. Each result was way off the mark. I bought my property for £76,000, but it states that I paid £100,000 for it. A property I sold for £98,000 recently shows that it was sold for £91,000. It looks like the stats are wrong both over and under priced on the handful of properties I looked at. Thinkproperty.com is usually quite accurate. Quote Link to comment Share on other sites More sharing options...
carrera Posted April 20, 2009 Share Posted April 20, 2009 I have recently dealt with JF and Mathews on the look out for a property - I have to say they have sold a few houses recently; but the prices are down way below the initial asking prices. Just had a look at the JF site and a lot of the new builds at silly prices in Ynystawe and Upper Killay / Penllergaer seem to have sold ... and they have a few others on SSTC. Why anyone would pay 600k for a house in Ynystawe is beyond me ... or £550k plus in Upper Killay ... In terms of Mathews, they have sold a few as well - one a friend of mine was interested in as well - it sold for £100k less than its initial marketing price, and £160k below the ceiling price for the street - so I hate to admit it - there is movement ... for how long is the question. But does anyone actually listen to EA valuations anyway?? I don`t .. we have Zoopla these days and land registry data to evaluate what a house is really worth ... the sensible buyer will do his homework before making any offers ... This is a bull trap.. if the stress tests across the pond are anything to go by ... it is going to be a summe of discontent. The budget is going to dictate what happens to jobs and markets this year ... not a good year to be taking on big debts in my view. Quote Link to comment Share on other sites More sharing options...
evictee Posted April 20, 2009 Share Posted April 20, 2009 I am just going from personal experience of properties that I have sold and also searched the purchase of my own property.Each result was way off the mark. I bought my property for £76,000, but it states that I paid £100,000 for it. A property I sold for £98,000 recently shows that it was sold for £91,000. It looks like the stats are wrong both over and under priced on the handful of properties I looked at. Thinkproperty.com is usually quite accurate. I was under the impression that all these sites just repackaged the Land Registry data, so if there are any examples of prices on www.houseprices.co.uk which differ from those on www.thinkproperty.com, or any other site, I'd certainly be interested to see them. Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted April 20, 2009 Share Posted April 20, 2009 I checked the same properties on Zoopla before and I found that a very odd site. It asks you to value your own property and then uses that to value other nearby properties. I bought my property 3 years ago for £76,000. I checked Zoopla a year later and it said my house was worth £35,000 which was a shock to me. Now that the prices are falling I'm starting to wonder if I have made a huge mistake and dare not check Zoopla again in case the value is below £0.00 Going back to the other site linked above. When I said it stated I paid £100,000, I now remember that was the asking price, but we negotiated quite a lot Maybe that is where they got the price from? That does not explain the below value sold prices though. Quote Link to comment Share on other sites More sharing options...
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