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gruffydd

Flood Of Properties Coming Onto Market

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Flood of properties coming onto market here in W Wales - strong hint of desparation in many of the descriptions too.

Mix of residential and commercial.

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Just arranged to view a house in West Cross, Swansea, and the owner is coming from Cambridge this week. Didn't have the heart to tell her that this is the first house I am viewing and am just at the start of a long journey of house viewings.

I assume, second home owner.

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Hi G

Yep, i think so...................we are at the tipping point.

Just the fact that they are no longer going up would have an effect, but factor in on coming MASS unemployment, Tax's, & (We hope) Rates & its Bye Bye BTL !!!!

:)

Mike

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There has been a load of properties come on in huddersfield, west yorkshire over the last day or so. Prob 4 or 5 times the norm. All houses worth below 100k, which from the looks of them are btl and student housing.

Edited by pby

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Just arranged to view a house in West Cross, Swansea, and the owner is coming from Cambridge this week. Didn't have the heart to tell her that this is the first house I am viewing and am just at the start of a long journey of house viewings.

I assume, second home owner.

I hope you are just wasting his time MT?

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Seen in an EA's nr Malaga last week. I'm looking forward to this admirable approach moving over here.

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Edited by juvenal

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Hi G

Yep, i think so...................we are at the tipping point.

Just the fact that they are no longer going up would have an effect, but factor in on coming MASS unemployment, Tax's, & (We hope) Rates & its Bye Bye BTL !!!!

:)

Mike

Who will buy the flood of houses if there is mass unemployment and tax and IR rises? Doubt it's going to be your average/low paid worker. The rich feckers will buy them all up. Bye bye BTL? I'm not sure, If more people have to rent because of the mass unemployment rents will be higher (and will accomadate IR increases).

Just a thought.

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I live in a street of 2-bed roomed 'maisonettes' in South London.

Probably about a mix of 35%/35%/30% between owner-occupiers who bought cheaply in the old days/owner-occupiers who bought somewhere in or post bubble/BTL landlord-owned.

There have been more new 'for sale' signs in recent weeks [starting, to be fair, before the CGT news but it's accelerated] than in all of the last two years put together. Asking prices all somewhere between peak selling prices and peak selling prices + 25%. It'll be interesting to see what happens next.

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I hope you are just wasting his time MT?

I fear so... I am starting viewing because, well, I simply want to get an idea of what is out there in terms of quality, modernisations, size, etc.

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Who will buy the flood of houses if there is mass unemployment and tax and IR rises? Doubt it's going to be your average/low paid worker. The rich feckers will buy them all up. Bye bye BTL? I'm not sure, If more people have to rent because of the mass unemployment rents will be higher (and will accomadate IR increases).

Just a thought.

Just a dream more like, you really are talking pish here.

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I fear so... I am starting viewing because, well, I simply want to get an idea of what is out there in terms of quality, modernisations, size, etc.

Nothing to fear my friend. You might mention that he could have stayed home as he is doing what he is paying the EA to do. Having a quick look on the RAC W3 its 238 mi each way. So 476 mi at 30p/mi £143. Say ten viewings to sell £1430 if each viewing is an individual trip plus the EA fees - lets say 1.5% on the gaff at 120K is 1800 notes plus VAT 2115 quid. Hmmm.. over four grand disposal costs with solicitor's fees...... That comes out your taxed (CGT) profits so that's five grand near enough.

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Nothing to fear my friend. You might mention that he could have stayed home as he is doing what he is paying the EA to do. Having a quick look on the RAC W3 its 238 mi each way. So 476 mi at 30p/mi £143. Say ten viewings to sell £1430 if each viewing is an individual trip plus the EA fees - lets say 1.5% on the gaff at 120K is 1800 notes plus VAT 2115 quid. Hmmm.. over four grand disposal costs with solicitor's fees...... That comes out your taxed (CGT) profits so that's five grand near enough.

House is one for 300K... garish but very expensive deisgner kitchen...

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Who will buy the flood of houses if there is mass unemployment and tax and IR rises? Doubt it's going to be your average/low paid worker. The rich feckers will buy them all up. Bye bye BTL? I'm not sure, If more people have to rent because of the mass unemployment rents will be higher (and will accomadate IR increases).

Just a thought.

If rent is too high, it won't get paid - this is exactly the prob with BTL during a period of recession-stagnation. There is a ceiling on rents.

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Hi G

Yep, i think so...................we are at the tipping point.

Just the fact that they are no longer going up would have an effect, but factor in on coming MASS unemployment, Tax's, & (We hope) Rates & its Bye Bye BTL !!!!

:)

Mike

There are many EA's quaking in their footware this weekend. The tipping point is here. The sale of house next door has fallen through! Hardly any sold boards atall anymore. Fear is entering the market. :P:blink::D:rolleyes:

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If rent is too high, it won't get paid - this is exactly the prob with BTL during a period of recession-stagnation. There is a ceiling on rents.

Absolutely...rents can ONLY be priced according to the income of the renter...that includes government income with the cut backs due....rents will fall, if the owners don't like it they will have to try to compete with open market rates....can't pay won't pay.....better to have a low rent and a reliable tenant that can be trusted....ask too much and pay for it. ;)

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Absolutely...rents can ONLY be priced according to the income of the renter...that includes government income with the cut backs due....rents will fall, if the owners don't like it they will have to try to compete with open market rates....can't pay won't pay.....better to have a low rent and a reliable tenant that can be trusted....ask too much and pay for it. ;)

That would be good!

'better to have a low rent and a reliable tenant that can be trusted'

Not exactly rocket science is it ?

....thing is that the whole home rental scenario in this country is jaundiced...'you rent your home?...you are a failure'

Freakin' pathetic, all of it.

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There are many EA's quaking in their footware this weekend. The tipping point is here. The sale of house next door has fallen through! Hardly any sold boards atall anymore. Fear is entering the market. :P:blink::D:rolleyes:

A purchaser puts an offer on it....then something even better comes along....it's a buyers market....the survey has to be top-notch or a discount is required....sure the banks will be happy with that, the less they lend the better chance they have in getting it back, now and when the rates rise ;)

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Guest KingCharles1st

So the market has been slam dunked, and it isn't even thinking about picking up this year, high chance of 2nd home mortgages rocketing, so highly negative growth for both HP and the owner's wallet.

AND THEN!!! Labia get shown the door, and the printing presses fall silent, and the new guy in charge reckons high CGT on 2nd homes is a good idea!!!

Poor poor sellers :rolleyes::lol::lol::lol::lol::lol:

Edited by KingCharles1st

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Flood of properties coming onto market here in W Wales - strong hint of desparation in many of the descriptions too.

Same old ludicrously expensive properties on the market here in E Wales - some minor adjustments to prices, not always downwards...

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So the market has been slam dunked, and it isn't even thinking about picking up this year, high chance of 2nd home mortgages rocketing, so highly negative growth for both HP and the owner's wallet.

AND THEN!!! Labia get shown the door, and the printing presses fall silent, and the new guy in charge reckons high CGT on 2nd homes is a good idea!!!

Poor poor sellers :rolleyes::lol::lol::lol::lol::lol:

Property has not always a money making profit machine, it can be an annoying liability that takes up time and requires continuous maintainance and attendance.....I have noticed recently where many of the houses in my street used to go 'To Let' now they are going 'For Sale' the BTL big gains are over....lets get the prices back to normality so that they are affordable for two working people on average wages with a family to buy one and build our communities again. :)

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Absolutely...rents can ONLY be priced according to the income of the renter...that includes government income with the cut backs due....rents will fall, if the owners don't like it they will have to try to compete with open market rates....can't pay won't pay.....better to have a low rent and a reliable tenant that can be trusted....ask too much and pay for it. ;)

Exactly. Read a VI article saying rents have risen 10% in London so far in 2010. Now hands up who's income has gone up by 10%? Here I was thinking pay freezes/cuts and shorter hours were all the rage to keep unemployment down - looks like I was wrong :lol:

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Numbers coming to market have been well up for a couple of months now here in Bournemouth, but yesterday (Friday) my usual Rightmove search on 24hrs produced an all time record.

It's been a tiresome six months or so, but I really think the crash is back on now at last!

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According to some HPCers I know the house that I am going to look at this week, the one with the owner coming from Cambridge, has had its asking price put up 10 or 20 grand since they looked at it!

WTF!

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According to some HPCers I know the house that I am going to look at this week, the one with the owner coming from Cambridge, has had its asking price put up 10 or 20 grand since they looked at it!

WTF!

Perhaps vendors have an after tax profit in mind when they set their selling price.

Perhaps the potential increase in CGT means that vendors have to raise their pre-tax selling price to maintain their after tax profit constant.

This is a mug's game of course but perhaps we have yet another stand-off developing.

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  • 259 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% +
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      • Even
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