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Proof That The Hpc Is Imaginary ,,,


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HOLA441

House around a mile from me... looked at buying in mid 2006 for £425k

Sure its a nice house... lovely area.. good schools, low crime, low unemployment etc...

Anyone care to guess before they click on ... what the price might be now ???

Guess HPC never happened...

Funnily enough.. Zoopla values it about 55% of the current valuation...

Seems Zoopla is wrong as well

http://www.rightmove.co.uk/property-for-sa...y-22008778.html

time to turn out the lights here it seems ?

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HOLA442
House around a mile from me... looked at buying in mid 2006 for £425k

Sure its a nice house... lovely area.. good schools, low crime, low unemployment etc...

Anyone care to guess before they click on ... what the price might be now ???

Guess HPC never happened...

Funnily enough.. Zoopla values it about 55% of the current valuation...

Seems Zoopla is wrong as well

http://www.rightmove.co.uk/property-for-sa...y-22008778.html

time to turn out the lights here it seems ?

What you have is an asking price.

I have a toothbrush here for £300, if you want.

Now, back to reality:

http://www.zoopla.co.uk/property/54-arbor-...41-5jd/19497671

Last sale: £420,000 | Sale date: 30th Jan 2009

edit:

Oh shit... hmmm

42 Arbor Lane, Winnersh, Wokingham, RG41 5JD £580,000 Detached Freehold Not New Build 22-Jul-2008 Map (RG41 5JD)

42 Arbor Lane, Winnersh, Wokingham, RG41 5JD £535,000 Detached Freehold New Build 26-Jan-2007 Map (RG41 5JD)

edit:

Oh, New Build... stand down red alert :)

Edited by Mixle
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HOLA443
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HOLA444
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HOLA445
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HOLA446
What you have is an asking price.

I have a toothbrush here for £300, if you want.

Now, back to reality:

http://www.zoopla.co.uk/property/54-arbor-...41-5jd/19497671

Last sale: £420,000 | Sale date: 30th Jan 2009 | -21%

Agree entirely. But surely this tactic of inflating the asking prices so much... simply leads to offers of 25% below asking.. so buyers think they're getting a bargain.. but sellers laughing all the way to the bank. If this catches on..

we'll see HPI return PDQ ?

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HOLA447
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HOLA448
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HOLA449
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HOLA4410
Have you bought it?

ha ha... thata serious money... however i'd be surprised if it doesn't go soon.. not alot of quality on offer and state schools are a big draw around here

Think I should have bought it though 2 years ago.. thats some investment return :blink:

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HOLA4412

Premium for being within 200 yds of both the M4 and A329?

Maybe house prices are crashing in all but the most desirable locations ......

(I know that sarcasm doesn't work too well in forums so be warned that I may have overdosed on my sarcasm pills this evening B) )

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HOLA4413
Premium for being within 200 yds of both the M4 and A329?

Maybe house prices are crashing in all but the most desirable locations ......

(I know that sarcasm doesn't work too well in forums so be warned that I may have overdosed on my sarcasm pills this evening B) )

To be honest in this area you're buggered either way.. move a mile closer to Wokingham and you're under the flightpath... and much closer the A329 and you are on a main road. Don't get me wrong.. the area is great but looking at this I do feel we have far from an equal distribution of the pains and gains of the hoped for HPC.

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HOLA4414
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HOLA4415
Was feeling the same

Just received details of a property in the south hams, guide price 359,000

Rightmove

Previously sold in 2005 for 277,950

Houseprices.co.uk (No. 2)

The South Hams has shown the most modest falls of ~ 5% in Devon so far, neighbouring postcodes have dropped 20-30%.

But a 30% increase on 2005, bullish to say the least :blink:

Rightmove Director last week:

Rightmove does not predict a recovery of confidence or institutional lending this year. Mr Shipside said: "Some sellers are doing deals at prices adjusted to the new reality, though there also remain some real property black spots."

There remains a big gap between initial asking prices and eventual selling prices, however, and Rightmove said many properties were still being listed at an unrealistic price.

Rightmove Director earlier this year:

Rightmove Index: Raised Asking Price Doing More Harm than Good

The latest release of Rightmove's house price index shows asking prices on UK property rose 0.9% this month compared to last month.

The report admits that agent's are being forced to up initial advertising prices to win new instructions, amid the fierce competition for the few quality properties that are currently being put onto the market.

That makes the asking price rise, for me, more like bad news than good news. I understand that agent's are trying to survive in a difficult market, but we need to firm out the price drops that we have had, before we can ascertain if they are enough to bring the market to bottom, and accelerate any further drop that may be necessary.

In short, by humouring unrealistic vendors over asking prices, agents may be doing nothing more than prolonging their own misery.

Rightmove commercial director Miles Shipside said:

"Some sellers are still pricing wishfully high, though it is encouraging that elements of the market have adapted relatively quickly to find a new price floor at a discount of around 25% from peak"

.........So, after its initial optimism the Rightmove index enforces the realisation that the UK property market recovery hinges on two things: vendor realism and mortgage availability. The latter more than likely hinged on a recovery to the wider UK economy, which in my opinion is also necessary to increase buyer numbers sufficiently to bring vendor realism.

Mmmm "mortgage availability ....hinged on a recovery to the wider Uk economy"

Public borrowing to rise to £175bn this year.

National debt to reach almost £1.4 trillion in 2013-14, equal to almost 80pc of the economy.

*Government to issue £220bn of bonds this year to plug spending gap

Government to borrow £703 billion to finance the UK economy AND GROWING

*there are doubts about whether the government will be able to raise even the £220 billion it needs this year to keep its head above water. Public borrowing is running at 12% of GDP: the highest in the G20 nations. Not even Ireland is in such a bad way.David Cameron was right to warn about the debt crisis last year, when everyone else was talking about fiscal stimulus and the need to boost spending. You can't stimulate a corpse

Imf 's damning verdict

Britain is now one of the most indebted countries in the world.

We have personal debts of £1.5 trillion; national debt rising to £1.4tn; unfunded public-sector pension liabilities of another £1tn; and all this on top of a £1.3tn bank rescue programme. Britain is in deeper debt now than after the second world war and our children will be paying it off for most of their working lives.

British Bankers Association Figures out this week:

The number of mortgages approved for house purchases fell to 26,097 in March, down 6.8% from February and 25% lower than a year earlier.

All measures of mortgage lending were slightly weaker in March than in February, with the £8.9bn of gross mortgage lending at its lowest level since April 2001. This was also down 47% on March 2008

Doesn't look good does it?

Eventually we will ALL get it, UK plc is bankrupt and lending is not going to increase for a very long time.

Edited by Sybil13
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HOLA4416

Could not agree more with the following

Doesn't look good does it?

Eventually we will ALL get it, UK plc is bankrupt and lending is not going to increase for a very long time.

I really don't think that most people have realised this yet.

I am a research scientist and was in a meeting today discussing grant proposals. A comment was made that we did not want to "overcommit ourselves" should all the proposals be successful and so perhaps we should not submit them all (as if they would all be successful anyway :lol: ). I just said I would submit the lot as there may not be any funding to apply for in a year or two. I got looks of astonishment and incredulity. Most people who are not at the cutting edge in the private sector haven't got a clue yet.

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HOLA4419
Was feeling the same

Just received details of a property in the south hams, guide price 359,000

Rightmove

Previously sold in 2005 for 277,950

Houseprices.co.uk (No. 2)

The South Hams has shown the most modest falls of ~ 5% in Devon so far, neighbouring postcodes have dropped 20-30%.

But a 30% increase on 2005, bullish to say the least :blink:

Bullish? Not really. Not when compare to a house we went to see and put an offer on recently.

Asking price - Offers over £350k

Our Offer - £275K cash (needs everything you could think of done to it)

Our Offer - Declined

Vendors have evidently not done anything whatsover to the property and I would guess no one has since 1960's

Vendors purchased the house in 2001 for £109k !!!!!

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HOLA4420

I guess we have a house being advertised at £575k and yet Zoopla reckons its worth £319k

Surely this nails Zoopla as a complete farce and effectively useless ?

Thing is.. if Zoopla is crud.. perhaps the HPC is not going to be half as severe in many places as many want

So ... perhaps we should be buying now to avoid the oncoming HPI ?

;)

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HOLA4421
I guess we have a house being advertised at £575k and yet Zoopla reckons its worth £319k

Surely this nails Zoopla as a complete farce and effectively useless ?

Thing is.. if Zoopla is crud.. perhaps the HPC is not going to be half as severe in many places as many want

So ... perhaps we should be buying now to avoid the oncoming HPI ?

;)

So, if Glass's Car Guide says my old banger is worth £3k, but I decide to advertise it for £10k, this "proves" that Glass's is useless?

If you ask nicely, I will sell you my car for £6k and you can make a tidy profit on it. Please don't tell anyone else, I don't want a rush of prospective buyers.

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HOLA4422
I guess we have a house being advertised at £575k and yet Zoopla reckons its worth £319k

Surely this nails Zoopla as a complete farce and effectively useless ?

Thing is.. if Zoopla is crud.. perhaps the HPC is not going to be half as severe in many places as many want

So ... perhaps we should be buying now to avoid the oncoming HPI ?

;)

Get back to me when it sells for 575k.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

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HOLA4423
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HOLA4424
ha ha... thata serious money... however i'd be surprised if it doesn't go soon.. not alot of quality on offer and state schools are a big draw around here

Think I should have bought it though 2 years ago.. thats some investment return :blink:

Why not buy it, sit on it for a couple of years and then ask £750k for it. You can still make a great return.

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HOLA4425

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