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libitina

Is It Just Me.....

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............or are there an awful lot of 'For Sale' boards springing up everywhere?

Just got back from a visit with the in-laws in Lancashire. The property boom has literally just started to slow down there (only in the last month or 2) and there were boards up all over the place. I only saw a tiny percentage of 'Sold' boards though.l

Edited by libitina

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............or are there an awful lot of 'For Sale' boards springing up everywhere?

I think so, too.

And, more pointedly, I notice properties become "SOLD"

and then come back for sale.

And properties just lose the For Sale board and the owner

gives up trying to sell.

Both are signs of a weak, slowing, falling market.

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I think so, too.

And, more pointedly, I notice properties become "SOLD"

and then come back for sale.

And properties just lose the For Sale board and the owner

gives up trying to sell.

Both are signs of a weak, slowing, falling market.

I'm seeing plenty of SOLD boards where I live in South East London, but on my journey to work to west London the amount of FOR SALE boards gets more and more. Near Earls Court there is a row of about 10 houses with about 15 boards up between them, most have a FOR SALE and TO LET board outside.

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Same here in North Yorkshire, Tons of for sale boards up. One week the property is "Sale Agreed" or "STC" and the next week its back up for sale again.

I think its people at the lower end of the property chains that are realising prices are dropping and are pulling out. The low end houses just don't seem to be shifting at all. Up to now prices have still been rising here but the market now seems to have gone stagnant all of a sudden.

Suprising too, we are usually a good year or so after the market trends in the south.

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Suprising too, we are usually a good year or so after the market trends in the south.

Thats why I was surprised it had happened so quickly up there. Only a couple of months ago (at the most) prices were booming right infront of my eyes, ridiculously so in fact) and now it seems to have screeched to a halt, rather than filtering its way up from London....

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............or are there an awful lot of 'For Sale' boards springing up everywhere?

A recent thread revealed there were around 330,000 houses for sale on Rightmove back in Jan but 640,000 currently. Thats a hell of an increase, even if some are accounted for by new ea's advertising there, and clearly theres a huge backlog of unsold overpriced stock building up.

I also read this week that around a third of 'under offer' and SSTC are now breaking down though from my own recent observations I would put it higher.

Theres only one way for prices in this market.

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I'm just surprised at the sudden increase rather than a gradual filtering through the country from London and the south as happened with the boom.

I think all the houses I noticed only seemed to have one board up.

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I am following the figures for two towns on the wirral. The number of properties for sale and the number advertised in total, on the web site, seems constant so far. My immediate guess is that the estate agent can manage the numbers, especially during vulnerable times.

But where are all the rightmove numbers coming from? Are new, more cut-throat estate agents entering the market?

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As posted on another thread, in the W of Scotland despite a 20% reported rise in the last year, things also seem to have slowed very quickly. Exactly the same issue as reported elsewhere with lots of signs and sold houses coming back onto the market. Despite the rapid cooling in the W of Scotland it is not a mystery as to why this has happened, the FTB has been left way behind as speculative price rises shot ahead - aided by the Scottish offers over system. I guarantee that whatever happens elsewhere in the country the W of Scotland will see a crash.

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Same here in North Yorkshire, Tons of for sale boards up. One week the property is "Sale Agreed" or "STC" and the next week its back up for sale again.

I think its people at the lower end of the property chains that are realising prices are dropping and are pulling out. The low end houses just don't seem to be shifting at all. Up to now prices have still been rising here but the market now seems to have gone stagnant all of a sudden.

Suprising too, we are usually a good year or so after the market trends in the south.

have to disagree Johnny, around my area (Harrogate) asking prices on new instructions are at least 10% down on last year. (example - typical 4 bed detached was 385k ish now down to 330-340k this qtr)

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Yeah, there have been To Let boards outside 2 big student let / similar properties, both worth over 400k, right in the centre of Bristol by the river - empty for months on end and on same street. Wow, bet those landlord b*****ds are feeling the pinch.

Edited by Vivaldo

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have to disagree Johnny, around my area (Harrogate) asking prices on new instructions are at least 10% down on last year. (example - typical 4 bed detached was 385k ish now down to 330-340k this qtr)

Harrogates always been a law unto itself though. Lived there for 3 years and loved it. :D

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Hi,

But getting back to the guy's original question, WHERE and WHAT is this 1trillion debt. If there is a figure, it must have been added together from some sources, what are those sources? And if it is in the media, I would wager it is probably understated. I would like to ask that guy who posted on earlier in the afternoon about booming wealthy British houses with manicured lawns and ricket greens and duck ponds, if I borrow a trillion squids, does that make me a trillion-hier? Or a guy with a trillion-squids debt that is costing squids of interest everyday?

What is this money? Has gordy at No.11 done a crafty, or have the high street banks done crafty? Maybe that Gordy or the geezer at Capital economics or Kirsty or Beenie can illuminate. 'Cos I'll be a monkey's uncle if I have a clue.

The truth is out there!

Boomer

:huh::D

Yeah, there have been To Let boards outside 2 big student let / similar properties, both worth over 400k, right in the centre of Bristol by the river - empty for months on end and on same street. Wow, bet those landlord b*****ds are feeling the pinch.

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............or are there an awful lot of 'For Sale' boards springing up everywhere?

Just got back from a visit with the in-laws in Lancashire. The property boom has literally just started to slow down there (only in the last month or 2) and there were boards up all over the place. I only saw a tiny percentage of 'Sold' boards though.l

Hmm. Just like the late 80's, and we all know what happened then !!

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I havent seen much of a drop in Finchley London for the property types I am looking for (3 bed... or maybe 4 next year...or 5 the year after that) which is a bit disappointing but looking at larger houses I am seeing a big fall in the expensive areas (Totteridge, Hadley Wood, Hampstead Garden Suburb)

For example a 6 bed, 5 bath, double width, huge garage etc house in Hadley Wood that would have fetched at least 1.8M last year I saw in the paper yesterday for 950k. Now that is a huge fall.

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Guest growl
Thats why I was surprised it had happened so quickly up there. Only a couple of months ago (at the most) prices were booming right infront of my eyes, ridiculously so in fact) and now it seems to have screeched to a halt, rather than filtering its way up from London....

I reckon the reason why the north is catching up with the south where the slowdown is concerned is because communications and information is better now than it was during the last crash of the late eighties.

Why?

The Internet.

I've been reading a few threads recently all over the forum. How less of us believe or watch the telly. How we question the news especially so called experts. How we take with a pinch of salt the papers(which are basically celebrity scandel sheets now)

Lets face it. The Internet did not exist. We didn't have text. We didn't have spin(or at least we were not aware of it). No msn messenger and the like. No email. No mobile phones.

So basically you got the news from freinds or relatives going up north for a visit. My relatives are up North and I visit on average once or rarely twice a year. But they know what is going on because I keep trying to tell them.

That is why the slowdown I believe and therefore the crash will happen much quicker than before...and no interest rate cut is going to save the country. :)

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  • 302 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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