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Guest KingCharles1st

Why Properties Are Coming Onto The Market- Missing The Obvious.

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Guest KingCharles1st

.1- People with I.R. mortgages have realised things are going to bite them in the ass if they are not careful.

2- Reversions are kicking in

3- BTL is very very shaky now the Labour social gravy train safety blanket may have been taken away.

4- anyone care to add?

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Guest KingCharles1st

I don't know the first thing having never bought or sold a house, but I'm sure I've heard that spring is reputedly a good time to sell?

Yes, but this year they are tumbling on. after two years of market stagnation, people are unloading in a market that is at very very best, stagnant, at worst, dangerous.

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Yes, but this year they are tumbling on. after two years of market stagnation, people are unloading in a market that is at very very best, stagnant, at worst, dangerous.

I'd like to think it is stagnant. A few normal people I have talked to think it's a bit dire. Then you hear the reporting of the index rises and you think everything is reasonably rosey. I always thought the extended spring bounce would die out without high interest rate rises. Looking like it's going to happen.

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all the pent up supply from the last couple of years. People have been putting it off waiting for prices to rise again which they have, now they are desperate. I think a lot a realising it's now never. This combined with the usual increase in supply in spring which this year is not being matches by demand.

Could get much much worse if the CGT and HIPS situation adds even more to the Market in the coming weeks.

I think nationwide will be a seasonally adjusted negative for may. All the evidence points to there not bring enough demand for spring.

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Downsizers might be wanting to sell before prices start to drop, to maximise the cash. This is the opposite of upsizers, who do best when prices are low.

Round my way loads of new houses have been built and another major development (350 houses) has just started. This is despite loads of properties coming on the market. I spoke to the developer of these houses some time ago and he said that they were looking 2-3 years ahead and nobody could predict the market situation that far ahead.

One thing that's occurred to me is whether building booms are partly fuelled by buyers who specifically want to live in a new house. So even if there's no general shortage of houses, there could still be a shortage of new houses.

Edited by blankster

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.1- People with I.R. mortgages have realised things are going to bite them in the ass if they are not careful.

<snip>

I don't think this will happen. I'm not convinced that someone who takes out this type of mortgage because it is cheap, necessarily realises their predicament until the last minute.

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I think the HIPS thing might have held a few people back, as of today HIPS is now legally HIPSTORY!

Some people who put their houses up are chancers to see if a sucker will come along and I think the

whole HIPS madness put them off.

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.1- People with I.R. mortgages have realised things are going to bite them in the ass if they are not careful.

2- Reversions are kicking in

3- BTL is very very shaky now the Labour social gravy train safety blanket may have been taken away.

4- anyone care to add?

People have realised that their public sector job is of no value and is about to be axed?

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it's a big 'hold on to your cojones' moment for us folks waiting out this horrible past 18 months. A time of government interference in what should have been a perfectly natural reset. Great to see property hitting the market, but crap when the initial asking prices are blatantly aspirational and disconnected from the twin-reality of mortgage funding and fewer proceed-able first time buyers.

There has been a two-speed market for way two long, it's time for the vendors to get realistic, it's not 2007 any-more, deal with it. The flood of property hitting the market is the pent up supply from the period past, the vendors who have been holding out for "a return to normal" - the natural churn of house moving, death, divorce, re-location, up-sizing, down-sizing has been on hold until favourable conditions re-appeared. Most won't sell at these prices, but without a tanking market vendors have no motivation to reduce. The one thing that concerns me is that if banks don't repossess and dispose of those repossessions, and interest rates don't nudge up to attempt to contain inflation, then the two-speed market will continue.

So the trap has been set, some bears will turn bull and walk right in to it - it might even be me.

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it's a big 'hold on to your cojones' moment for us folks waiting out this horrible past 18 months. A time of government interference in what should have been a perfectly natural reset. Great to see property hitting the market, but crap when the initial asking prices are blatantly aspirational and disconnected from the twin-reality of mortgage funding and fewer proceed-able first time buyers.

There has been a two-speed market for way two long, it's time for the vendors to get realistic, it's not 2007 any-more, deal with it. The flood of property hitting the market is the pent up supply from the period past, the vendors who have been holding out for "a return to normal" - the natural churn of house moving, death, divorce, re-location, up-sizing, down-sizing has been on hold until favourable conditions re-appeared. Most won't sell at these prices, but without a tanking market vendors have no motivation to reduce. The one thing that concerns me is that if banks don't repossess and dispose of those repossessions, and interest rates don't nudge up to attempt to contain inflation, then the two-speed market will continue.

So the trap has been set, some bears will turn bull and walk right in to it - it might even be me.

the trap has closed. The game is over now. Supply is surging while demand is stagnating, there are reductions all over the place as people realise the initial asking price is too high. The three month average of many house price indicies are already negative. The supply will be enough to send them down. With the effects of austerity measures, tax rises, interest rate rises accelerating the falls over the next few years.

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as a vendor in the front line on this and theoretically a buyer as well - I have STR'd at approximately 2004/5 level and now moving into rented (unheard of for me). I have noticed more properties on the market but at unrealistic prices initially while the old and sad and un wanted properties from one or more years ago are finally dropping their prices - but not by enough. These houses are not worth what they are asking is the feedback I give to the smamy EAs when I have viewed some of these overpriced cottages.

I am now a fully fledged member of the buyers strike movement - show me a property that is worth the money and I will buy again - meanwhile I can wait. :D can they afford to wait

Edited by olliegog

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as a vendor in the front line on this and theoretically a buyer as well - I have STR'd at approximately 2004/5 level and now moving into rented (unheard of for me). I have noticed more properties on the market but at unrealistic prices initially while the old and sad and un wanted properties from one or more years ago are finally dropping their prices - but not by enough. These houses are not worth what they are asking is the feedback I give to the smamy EAs when I have viewed some of these overpriced cottages.

I am now a fully fledged member of the buyers strike movement - show me a property that is worth the money and I will buy again - meanwhile I can wait. :D can they afford to wait

Welcome aboard - anyone else thinking of joining see link below. It's time to start turning the screw.....

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I skipped a page, so excuse me if it's covered.

4. Doesn't that govt mortgage help/bailout end soon for a lot? Didn't they get 2 years free money and the first tranche of that's about to dry up for them?

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  • 145 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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