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knifedge

News From The Local Ea

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Hi

Spoke to a friend who is a local EA (North Hamphire). He sold 4 houses in 3 days, 2 for the asking price, and 2 of them were FTBs, looks like confidence is coming back to the market????

Or prehaps this is the lot who sat put during the easter rush that never happened?

Mmmmmmmmmm, is the crash really happening??

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No disrespect, but you talk as though NO ONE will buy in a crash or sliding market, that simply is not true. Lets just hope they haggled the price as low as possible!

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clearly there will still be a level of sales.

it is not as though the war of the worlds has started and no one is buying or selling.

what will drive prices is the level of activity and the trends in activity and price achievement.

for people buying and selling in the same market, unless they are trading up the prices are not overly important.

prices are most important to STRers, FTBers and people trading up.

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I also bet that none of them are over £250k. I've been watching N Hamps as this is where I sold in Jun and I reckon that asking prices have dropped by around 10% since last summer. This makes houses under £250k appear to be relatively good value for those not believing in a crash.

It must also be remembered that houses in N Hamps at less than £250k are relatively affordable as this is an affluent area. What is madness is the way that property prices have become so uniformly high across the country. I'm currently living in the W of Scotland in an area that is apparently still rising after 20% growth last year. Prices are not that dissimilar to the S of England with new build 4 beds at £300k+. While some buyers trading up might afford these prices the FTB propping up the market in the W of Scotland is hugely out-priced - hence the local EA offering 125% mortgages.

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Not Basingstoke is it? I would say its luck really, there will always be people who don't do their research, I have been arguing with a girl who is recommending a FTB mortgages themselves to the hilt as property always goes up!

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I also bet that none of them are over £250k.  I've been watching N Hamps as this is where I sold in Jun and I reckon that asking prices have dropped by around 10% since last summer.  This makes houses under £250k appear to be relatively good value for those not believing in a crash.

It must also be remembered that houses in N Hamps at less than £250k are relatively affordable as this is an affluent area.  What is madness is the way that property prices have become so uniformly high across the country.  I'm currently living in the W of Scotland in an area that is apparently still rising after 20% growth last year.  Prices are not that dissimilar to the S of England with new build 4 beds at £300k+. While some buyers trading up might afford these prices the FTB propping up the market in the W of Scotland is hugely out-priced - hence the local EA offering 125% mortgages.

Yes mate

totally agree with your comments, i think they were all <250k, mostly FTB/small family stuff, I sold in this area recently also as i could see the writing on the wall, were you in the GU34 postcode, the market there is DEAD right now.

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FTB'r property < 250K? i should f*ckin well hope so :lol:

Like ive said in a few posts we will need muppets to chase the market down.

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Yes mate

totally agree with your comments, i think they were all <250k, mostly FTB/small family stuff, I sold in this area recently also as i could see the writing on the wall, were you in the GU34 postcode, the market there is DEAD right now.

"looks like confidence is coming back to the market????"

Surely you havnt changed your mind so quickly.

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Knifedge,

We sold in the Hook area, but it took nearly a year. My fault for listening to the greedier of the 2 local EAs hence a ridiculous initial asking price. Thankfully my discovery of this site is making me much better informed and I will certainly re-enter the market much more knowledgeable than I was when I decided to sell.

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I spoke to an EA friend in Bucks last week.  They have 99 properties on their books and had one viewing booked in for the whole week.

:huh:

that's not good, these guys need to sell on average 2 a week to pay the bills,

not a good situation in Bucks then....

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I live in the GU34 area, and things aren't looking good for house prices! On another point I pissed off my parents by showing Net House Prices what a neighbouring house sold for in our cul-de-sac in 2003 (of 8 houses), about 100k less than they thought they could get today!

Life's tough.

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We recently flipped a flat in basingstoke bougth at auction for 185k sold on in three months for 225k we did a splash job on the flat cost about £500 bring the repos on :lol:

Well done! Some Gullible people in Basingstoke though.

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Guest Riser

I heard two bits of news today which point to a slowing market.

1. My parents friends have been trying to sell in north yorkshire since last summer, they droped the price 25K in the past few months but still no interest. Today they apparently visited the agents and overheard some of the girls in the office talking about how they were were worried about losing their jobs because the market is so slow.

2. The independant financial adviser who arranged our mortgage offers when we were considering buying here in Cumbria rang for a chat and to see if we were likely to be looking for a mortgage soon. Hes a nice guy and when we do need a mortgage we will talk to hi first but for now I told him it would probably be a couple of years. I said he can't be very busy down in London he said the market was dead but they were surviving. Being friendly I suggested things may pick up for a while after the rate cut on thursday, he said he didn't expect it to make any difference people could not afford to spend anymore.

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Today's "Bargain" is tomorrow's market price

The property "experts" must be on the verge of their brains exploding to deal with the conflict inhabiting their cramped little brains.

Because on the one-hand they're saying it's a buyer's market and that now is a good time to buy and you can get better discounts.

On the other hand, these new bargain price has the effect of setting new price levels and actually contribute to the crash in prices that they say won't happen.

Lovely. :)

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Well if the EA is pleased about selling four houses - it must be quite a raity.

Did he mention ow many hs sold the previous three weeks?

Or for that matter at the same time one or two years back?

ABB

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  • 301 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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