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D179

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I have had an interesting chat with a residential surveyor in the south East, they are totally dead hardly any work and the Agents he has spoken to have suggested that things have totally dried up.

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Can you be more specific about 'South East' - large area?

well they cover a largish area but I think mostly sussex/surrey

Edited by D179

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well they cover a largish area but I think mostly sussex/surrey

OK, that is interesting. Any idea what price of housing they cover? Super rich houses, rich houses or just the usual over-priced stuff that a clerk and a nurse are supposed to be able to afford?

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Wow, that was interesting.

well I liked it. Anecdotal evidence is the most up date indicator of how the Market is doing. When you add this to all the others recently it paints a pretty dire picture.

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OK, that is interesting. Any idea what price of housing they cover? Super rich houses, rich houses or just the usual over-priced stuff that a clerk and a nurse are supposed to be able to afford?

just usual spectrum of houses, I guess from the small to the averagly large.

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i have a friend who is a solicitor specialising in conveyancing (perhaps I should say FORMERLY specialising in conveyancing, now specialising in thumb twiddling).

He's in Kent and his practice is being moved along by the big stuff of around 500k - 800k the bottom end of the market (normally his bread and butter) is all but gone. The top end is still cash buyers coming out of rented. The bull trap (or bear trap I can never remember which it is) - is nearly complete - people really think the market is heading back up with a rocket strapped to it and they have to get "back on".

I told him my wife was desperate to buy and he said something along the lines of "PLEASE FOR THE LOVE OF GOD WON'T SOMEONE THINK OF THE CHILDREN"... or something. He still thinks that a LOT of pain is to come, which I'm inclined to agree with.

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Good anecdotal. Anyone got any more?

Checking cities in Essex on RightMove + PropertyBee added in last 24h:

From all the listings 20 to 40% are price reductions ....

Stock on the RightMove is up by about 30% from Jan 2010 ....

It is going to tank soon. Halifax will continue to be negative ....

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Wow, that was interesting.

Sarcasm, gotta love it.

Well I thought it was nice to spread some front line news thats all, but next time I can purley speculate on Black Thursday, friday, idigo tuesday, the sky is falling, Europe is skint, spain are a pain, peak oil etc... and not to mention the time I once looked on here are someone had sent in a photo of a packet of biscuits with a comment about the price!

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Good anecdotal. Anyone got any more?

Yes, here in small town South Wales, I spoke to 2 of my neighbours who put their houses up for sale a couple of months ago. One of them has had only 1 viewer, and the other one zero viewers.

One has now reduced price by £20k. She is not hopefull though, because another same house ....a repossession minus the boiler, radiators, carpets, kitchen and bathroom fittings that the previous owner stripped out :lol: .... has just gone on the market asking £70,000 less than hers .

And another repossesion has just gone on the market today.

So, in a street of 25 average newish large family houses, since we came here to rent in 2008, we have had 4 repossessions, one BTL house sold for £23,500 less than they paid for it 5 years ago, one that came up for sale, and was taken off again when they had no interest, and now currently we have another 4 houses up for sale, in addition to the 2 repossessions that are up for sale.

The 2 repossessions that sold a couple of years ago, all went for about 33% less than the owners paid for them aprox 5 years ago.

I am so glad to be a renter, and not an "owner" right now.

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Sarcasm, gotta love it.

Well I thought it was nice to spread some front line news thats all, but next time I can purley speculate on Black Thursday, friday, idigo tuesday, the sky is falling, Europe is skint, spain are a pain, peak oil etc... and not to mention the time I once looked on here are someone had sent in a photo of a packet of biscuits with a comment about the price!

No don't do that, I like the news from the front line.... keep it coming.

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I don't word believe of this - just got a card through the letter box from the local EA saying May was a strong month and June was going to be even better

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I don't word believe of this - just got a card through the letter box from the local EA saying May was a strong month and June was going to be even better

Then why are they advertising?

:ph34r:

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I don't word believe of this - just got a card through the letter box from the local EA saying May was a strong month and June was going to be even better

I know, my area too, but clearly on balance who should we believe, the surveyor with no VI or the agent mailer...mmmmm thats a tricky one!

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Good anecdotal. Anyone got any more?

The bank holiday weekend appeared busy for EAs in my area of the South hams, at least by the number of EA visits I saw to holiday homes, which I had never noticed before.

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I don't word believe of this - just got a card through the letter box from the local EA saying May was a strong month and June was going to be even better

Does the local EA wear Y-fronts/pants on his head?

:lol:

Edited by eric pebble

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I don't word believe of this - just got a card through the letter box from the local EA saying May was a strong month and June was going to be even better

was that in 'Miss Universe Monthly' magazine?

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i have a friend who is a solicitor specialising in conveyancing (perhaps I should say FORMERLY specialising in conveyancing, now specialising in thumb twiddling).

He's in Kent and his practice is being moved along by the big stuff of around 500k - 800k the bottom end of the market (normally his bread and butter) is all but gone. The top end is still cash buyers coming out of rented. The bull trap (or bear trap I can never remember which it is) - is nearly complete - people really think the market is heading back up with a rocket strapped to it and they have to get "back on".

I told him my wife was desperate to buy and he said something along the lines of "PLEASE FOR THE LOVE OF GOD WON'T SOMEONE THINK OF THE CHILDREN"... or something. He still thinks that a LOT of pain is to come, which I'm inclined to agree with.

500k-800k IS the bottom end no?

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Yes, here in small town South Wales, I spoke to 2 of my neighbours who put their houses up for sale a couple of months ago. One of them has had only 1 viewer, and the other one zero viewers.

One has now reduced price by £20k. She is not hopefull though, because another same house ....a repossession minus the boiler, radiators, carpets, kitchen and bathroom fittings that the previous owner stripped out :lol: .... has just gone on the market asking £70,000 less than hers .

And another repossesion has just gone on the market today.

So, in a street of 25 average newish large family houses, since we came here to rent in 2008, we have had 4 repossessions, one BTL house sold for £23,500 less than they paid for it 5 years ago, one that came up for sale, and was taken off again when they had no interest, and now currently we have another 4 houses up for sale, in addition to the 2 repossessions that are up for sale.

The 2 repossessions that sold a couple of years ago, all went for about 33% less than the owners paid for them aprox 5 years ago.

I am so glad to be a renter, and not an "owner" right now.

unfortunately I am still seeing the opposite here in berks. Houses that come up for sale in the village, other than from the council patch at the far end, sell very quickly.

2 bed cottage that was for sale at £350 went within days and has just been knocked down so they can build a 4 bed det on the plot. Lots of building work being done, not just a patio or a conservatory but full scale 2 floor half a house type extensions. One place recently had the roof taken off and another floor added. Rentals are still few, rents are the same as always as and house prices have so far continued upward.

guy that works for the ea as their plumber admitted last year that when prices fell sharply the only thing that kept the ea afloat was the rental arm, now he says they are doing really well, not the same volume but sounds like champagne all round.

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It would also explain why house prices appear to be defying the law of economic gravity and still rising. The figures are based on a minuscule number of transactions.

...and that's why I am so sure the balloon can be popped with a pin.

I am in Sussex and have written with the same anecdotal evidence in the last 2 weeks. There has been a change in sentiment. I have seen houses with 'under offer' return to for sale again. Far fewer sold boards than for years. More new instructions for sale coming on and fewer buyers. Will it bed in? It is a sharp slowdown which has yet to show in the figures (although Halifax show 0.4%fall for May) and may not do for a while with a new buyer/seller standoff. Then if it remains BIGGER falls will follow. It takes a few months.

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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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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