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You may be totally new to Housepricecrash.co.uk or perhaps you have been lurking around here for a while.

I (and I'm sure many others here) would be very interested to hear your views / concerns / anecdotes.

Go on, it only takes a minute to register.

Jayne

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You may be totally new to Housepricecrash.co.uk or perhaps you have been lurking around here for a while.

Okay, so after five months you finally convinced me. :P

I have been monitoring the prices in South Manchester for six/seven months now. They aren't going up. Same old houses appear on rightmove time after time.

Some people have reduced their asking prices a nudge, mostly for people trying to sell 'Sarah Beeny'ed properties.

Given the frenetic activity of recent years, I thus conclude that these properties can't possibly be offered for sale at the market price? Or surely at least some would have sold by now? B)

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Okay, so after five months you finally convinced me.  :P

I have been monitoring the prices in South Manchester for six/seven months now. They aren't going up. Same old houses appear on rightmove time after time.

Some people have reduced their asking prices a nudge, mostly for people trying to sell 'Sarah Beeny'ed properties.

Given the frenetic activity of recent years, I thus conclude that these properties can't possibly be offered for sale at the market price? Or surely at least some would have sold by now?  B)

Yo megaflop. (ive just not used 'Yo' since i was a kid)

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I cant promise that i will try and be nice to you but  i will try to try, cant say fairer than that now can i ? :D

I've been here for a few months now, and I'm a complete charlatan. Yet no-one has shouted at me or been rude yet.

they're a lovely bunch on here

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I have been monitoring the prices in South Manchester for six/seven months now. They aren't going up. Same old houses appear on rightmove time after time.

.............surely at least some would have sold by now?  B)

Megaflop welcome. Its interesting what you say about houses in south Manchester not selling (confirms my view) as theres an interesting debate about this going on on this thread at the moment......housepricecrash.co.uk- Manchester analysis

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I am also an occasional lurker, i posted a handfull of my opinions a while back.

I am in the crash camp when it comes to property, i have been for a while.

The one thing that does concern me though, with my calculations, this crash should have kicked off a while back, and i mean real in your face house prices are coming down stuff.

I still think property prices are over inflated, and under no circumstances will i buy into property right now, But the VI's are a little more brighter than some give them credit for, we could be in for a long wait.

Sam

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Welcome to you, Megaflop.

You said you have been monitoring prices in Manchester.  Does this mean you were / are considering buying/upgrading?

FTB. I put in an offer on a house in February 10% below asking. Got chased up to the asking price before I backed out. That was *before* I did my research, if you see what I mean (Doh!). :rolleyes:

MF,

there is a regional section: "Prices in your area".  have you seen it?

And my "Madness in manchester" thread.

Link: http://www.housepricecrash.co.uk/forum/ind...wtopic=8727&hl=

Also, the "2BR Disaster" thread.

Link: http://www.housepricecrash.co.uk/forum/ind...topic=10648&hl=

Have you seen them and considered posting there?

I have read much of your analysis with interest over the past few months, thanks for posting, and please don't disappear!

I read the 2BR disaster with interest. I looked at some such flats in Salford Quays area, and have been keeping an eye on prices. Manchester is just a builder's playground at the moment, it's just silly the amount of stuff that's being renovated and built. Ordsall lane has been blitzed by builders in just the past few months, and they're well and truly underway building Manchester's tallest building.

They're asking 130-200K for some of these, which are supposedly marketed for 'professionals', but with a 28K salary as British average, er??

A mate of mine is toying with the idea of selling his Stockport terrace in ~2 yrs and moving into a City centre flat, as he reckons oversupply will reduce the prices (in absence of any other happenings, of course!)

The one thing that does concern me though, with my calculations, this crash should have kicked off a while back, and i mean real in your face house prices are coming down stuff.

Sam

Sam - My take on this is that 6x salary is an unproven economic concept. You can't expect to double house prices in just ~5 years and for there to be NO effect at all when salaries haven't matched.

The dropped-out FTBs and halting of local sales activity I see as evidence of things 'not being right'. To buy a house now is to place a gamble that this new economic concept is totally sound. We'll see.

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I've been here for a few months now, and I'm a complete charlatan. Yet no-one has shouted at me or been rude yet.

they're a lovely bunch on here

Hey Guys! One got through the net, BUNDLE!!!!!

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You may be totally new to Housepricecrash.co.uk or perhaps you have been lurking around here for a while.

I (and I'm sure many others here) would be very interested to hear your views / concerns / anecdotes. 

Go on, it only takes a minute to register.

Jayne

Thanks, don't mind if I do. I've been lurking for a while, absolutely fascinated by the house price phenomenon. I dived onto the housing ladder as a single person at the end of '99, just in time to buy a very modest mid terrace in the east midlands before things started to get silly pricewise a couple of years later. I've been thanking my lucky stars ever since, as I would have to increase my earning potential by around 30% to afford a similar property at the prices being asked aroung here now. And that, quite frankly ain't going to happen.

Anyway, I'll keep reading for now and might contribute to some other threads as I find my feet here. :)

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Thanks, don't mind if I do. I've been lurking for a while, absolutely fascinated by the house price phenomenon. I dived onto the housing ladder as a single person at the end of '99, just in time to buy a very modest mid terrace in the east midlands before things started to get silly pricewise a couple of years later. I've been thanking my lucky stars ever since, as I would have to increase my earning potential by around 30% to afford a similar property at the prices being asked aroung here now. And that, quite frankly ain't going to happen.

Anyway, I'll keep reading for now and might contribute to some other threads as I find my feet here.  :)

Yo Khali.

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Ok I've been lurking since about last October, and maybe it's about time I posted too. In that time I've become a STR, partially due to the excellent comments and advice I have read on this site. Now things are really starting to turn (we should see YoY negative figures in a few months), I'm confident I made the right decision.

I'm also watching South Manchester prices with great interest as that is where I will be buying next (when the conditions are right of course, probably not for 4-5 years). Unfortunately the slowdown doesn't really seem to have taken hold here yet...

Edited by Unmutual

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'Allo 'ousecrashers,

Many unsold 'ouses 'ere on ze Souse Coast - next door to moi unsold since last Oct, despite stunning sea views & low price; ever more for sale, ever fewer sold boards - ze merde ees just about to hit ze fan..

Alors

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As Consa says, any more newbies out there?  Let us hear your story?

I found this site - just a week ago. The missus and I started looking for our first place in East London a couple of months ago - even though I've been feeling a bit uneasy about the housing market for a while. And less than happy to convert my hard earnt savings into a massive debt and a pile of bricks.

This site has provided me with enough ammo to persuade missus greencat to hold off a while (we'll keep looking for something we like and that doesn't cost the earth).

Thank you - I've learnt an awful lot already.

Edited by greencat

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Ok, I came across this site on Saturday (6/8/05), when I decided to google for house price crash to see if there was any independent web-sites for the case.

I decide about 1 year ago to move back from Reading to the Bath-Bristol area. Stage 1 was complete when I started my new job in Febuary. Stage 2 was started on the 2nd January when my house went on the market, and after dropping the price from a market average to cheap I finally got an offer from a FTB 3 weeks ago and all is going fine atm. (This after every single EA saying it was going to be very easy to sell)

I was going to buy the house I wanted next, (rather than just to jump on the ladder) but I can't find one I like at a sensible price. I made an offer of £230k on a £250k but was rejected as it has apperantly just dropped from and overpriced £275k. I now think £230k was too high. It looks like I am going to join the STR's after looking through all the indications of a crash linked from and on this web-site and my experiences. The EA's in Bath seem to be tring to hide there desperation to get me to buy, although that hasn't spread the the Yate area yet. (I have been looking to buy houses from January).

I have been doing my sums and have discovered there will be more dead money paying of mortage interest than renting. How can anyone think BTL is a good idea to by today?

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Ok, I must admit to being just one of those 'Guests' for quite some time now, perhaps time to sign up.

Heh signing up, this gives me a chance to say thanks to all who post some great well reasoned threads (and especially to those who provide alternative viewpoints)

I am sort of a STR'er, to get on the market and get what I wanted in a nice enough area, I went in 50-50 with my brother who was in the same situation, sold up a year ago.

I looked at a lot of properties (even put some low offers out there), generally just laughed at the outlandish prices. Then I decided renting made much more sense and very happy to continue to do so.

Figured stuffing my deposit under a mattress will achieve better returns than property over the next year or two, but hope I can at least slightly beat the mattress.

Hope the username conveys appropriate irony. :P

Ok other guests - your turn!

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Greencat,

How did you find us?

Just curious

Hi DrBubb - I think it was moneysavingexpert. There was a thread about views on the property market posted by a first time buyer. As I said I was already feeling a little uneasy - the missus and I pay £500K/month incl Council Tax for our current place (admittedly a bit of a dive).

We'd been to see one place and the homeowner had trotted out the ole "it's cheaper than renting" - my missus and I just looked at each other. The amount we'd have paid to buy this place was £600ish/month just for interest never mind council tax @ £80 on top of that). And she wanted more than double for a home that had cost her £88K in 2000.

What's finally done it for me was receiving a call from an estate agent after checking land registry prices (-1% in last quarter) with them saying prices are going up in our area and nearby (-4% in last quarter). Lying barsteward.

Edited by greencat

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I found this website when I was doing a bit of investment research into some of the UK mortage banks and consumer finance companies (either as a long or a short). My feeling is that the aggregate data on house prices and consumer leverage are poor indicators of what is happening at the margin. I cant say that I found alot of objective analysis (with the odd exception like Dr Bubb) but but some of the anecdotes are useful and its amusing which is why I still come back to lurk.

I only signed up because I thought Perplexed was a bit of a chav tool and wanted to have an (unsuccessful) attempt to pop his / her ego. What happened to Perplexed anyway? The site is a less amusing place without his / her attempts at economic analysis.

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I only signed up because I thought Perplexed was a bit of a chav tool and wanted to have an (unsuccessful) attempt to pop his / her ego. What happened to Perplexed anyway? The site is a less amusing place without his / her attempts at economic analysis.

I think he was banned, I can not remember what he said, but it was not economic analysis

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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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