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Grahem Penny Results May Prompt Friend Buying


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Grahem Penny results in Derby were not good, prices seemed to have spiked. I have no idea why. I was not even looking at the auction, my friend told me that he may have to buy sooner rather than later as he thinks prices are staging a recovery at the auctions. Something about people being forced to plough there money into property as the returns from banks being so poor.

He was not wrong, prices were expensive. Analysing the market on one result could be a mistake. I looked at the sequence auctions were prices seemed to be alot lower.

What do you think the general trend is for auction prices around your local areas.

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What do you think the general trend is for auction prices around your local areas.

Trend I've seen is for much lower guide prices and reserve set at or near guide - which leads to more sales than last year.

Seeing London property going for 2005/2006 prices at auction and non-London for 2003/2004 as a rule

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Something about people being forced to plough there money into property as the returns from banks being so poor.

There do seem to be a lot of people thinking this way.

Do they really believe that 0% interest rates are here to stay? [1]

And even if they do, have they looked around for better rates. I've just tied up my STR fund for 12 months at 3.2% If I put it into a BTL they are still selling at 4% yields and that's with no voids.

So, after management fees that's a 0.3% better return on the upside and the possibility of getting nothing at all on the downside.

Nuts, absolute Nuts - but they just don't see it this way

[1] The clerk in the BS was trying to persuade me this was going to happen when I told her that I wouldn't tie my money up for 5 years to get a better rate - how does she think that they can offer a better rate for a 5 year tie instead of one?

tim

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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