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Autumn Of Discontent: The Selling Season Has Arrived But Will Anyone Be Buying?

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Prices are falling, there's a chronic lack of mortgages and the housing crisis is worse than ever

By Graham Norwood

)

Most of us are still shaking the summer sand from our shoes but estate agents are already in autumn mode, with one question dominating all others: will house prices defy the wider economic malaise of 25 per cent spending cuts and imminent tax rises?

The prospects do not look good. The Rightmove, Nationwide and Hometrack price indices all show small falls over late summer, and the Royal Institution of Chartered Surveyors' latest measure of sentiment in the industry suggests most estate agents believe prices are now falling.

not a bad article. Got some VI shit at the end though.

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not a bad article. Got some VI shit at the end though.

For me it will be a balance between risk (money in bank/low interest/inflation risk) against opportunity (I will be looking for 30% minimum off 2007 prices). If I can find the right place in the right location at the right price I will buy. November/December targetting houses that have been marketed over 6 months with previous downward movement in prices showing seller vulnerability will be my targets.

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"We've painted the interior in neutral colours and we're part of an open-house weekend in September when people can see the place for themselves," :lol::lol::lol::lol::lol:

A splash of magnolia emulsion will make all the difference :lol::lol::lol::lol::lol:

Don't buy too many refreshments, you'll finish up eating them yourself.

Edited by campervanman

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"We've painted the interior in neutral colours and we're part of an open-house weekend in September when people can see the place for themselves," :lol::lol::lol::lol::lol:

A splash of magnolia emulsion will make all the difference :lol::lol::lol::lol::lol:

Don't buy too many refreshments, you'll finish up eating them yourself.

That cracked me up too - bastards.

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For me it will be a balance between risk (money in bank/low interest/inflation risk) against opportunity (I will be looking for 30% minimum off 2007 prices). If I can find the right place in the right location at the right price I will buy. November/December targetting houses that have been marketed over 6 months with previous downward movement in prices showing seller vulnerability will be my targets.

That's about 90% of the Market within your criteria already! :lol:

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Top Tips For Sellers

* Get ahead of the price curve – a small reduction today may mean less of a drastic (and painful) reduction later.

I think we are beyond that already. It's a big reduction now or an even bigger one at later date!

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EAs are bust trying to convince sellers and buyers in my part of the World that the Summer months are poor for selling a house and that it all kicks off in Spetember... so I suspect that denial will continue right through to January 1st locally... at which point, no doubt, EAs will be using the coming Spring/Easter as the best time to buy.

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EAs are bust trying to convince sellers and buyers in my part of the World that the Summer months are poor for selling a house and that it all kicks off in Spetember... so I suspect that denial will continue right through to January 1st locally... at which point, no doubt, EAs will be using the coming Spring/Easter as the best time to buy.

I'm expecting November to be panic time for some sellers. The October 20th spending review will scare the cr@p out of some who may have had their houses up for sale for 6 months plus. They will realise that things ain't gonna get any better and that to sell they need to drop the price further and pray for a cash buyer making an offer. Thats where I come in :) .

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I'm expecting November to be panic time for some sellers. The October 20th spending review will scare the cr@p out of some who may have had their houses up for sale for 6 months plus. They will realise that things ain't gonna get any better and that to sell they need to drop the price further and pray for a cash buyer making an offer. Thats where I come in :) .

+1

At the moment, in my part of the UK anyhow, most EAs are trying to convince anyone that will listen that September is going to be a boom month - hordes of buyers are apparently going to return from holiday eager to buy up houses so they can be in their new home for Christmas.

Never makes sense to me - who wants to buy as the rainy season begins and the night draws in.

But I think Sept/Oct need to come and go and then we need the spending review for the UK (Wales also has one in Nov) - which is planned for Nov isn't it and not Oct? - and then there will be panic IMPO.

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The trouble is all this talk about pent up demand all the time, so all vendors know there are lots of potential buyers. I thinlk a lot will try and hang on as long as they can.

It will fall slowly, unless they chop housing benefit in half...... that would be a very crowded exit for a lot of BTL.

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I'm looking to buy in the next year or so. I need a property with a basement, and an "extreme" toilet! :blink:

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Spending review. All talk, no action.

High GDP growth, recovery locked in, bad cuts not needed...

That is what I ponder may happen.

High GDP growth in Q3 will accelerate cuts not reduce the need.

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The trouble is all this talk about pent up demand all the time, so all vendors know there are lots of potential buyers. I thinlk a lot will try and hang on as long as they can.

It will fall slowly, unless they chop housing benefit in half...... that would be a very crowded exit for a lot of BTL.

Cutting MIS in half will do the trick. Many unemployed sellers have been making money every month. After October there will be more unemployed sellers getting half what they get now,

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I'm looking to buy in the next year or so. I need a property with a basement, and an "extreme" toilet! :blink:

A friend of mine has just such a toilet. Made in Germany--it does every thing for you including wiping (and cleaning afterwards--bidet sort of thing for the whole lot) and means by which odours are eliminated through a carbon filter system. The seat is constructed with a form of "memory foam" that molds itself to the anatomy to aid comfort and to prevent the escape of odours. It even has a sound system that masks otherwise embarrassing noises virtually at the point of emission. It cost a vast amount but it was paid for by the NHS as this particular person has a serious disability.

The only dubious benefit I could see was the sound masking facility. Waste of money if you ask me.

Edited by Realistbear

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A friend of mine has just such a toilet. Made in Germany--it does every thing for you including wiping (and cleaning afterwards--bidet sort of thing for the whole lot) and means by which odours are eliminated through a carbon filter system. The seat is constructed with a form of "memory foam" that molds itself to the anatomy to aid comfort and to prevent the escape of odours. It even has a sound system that masks otherwise embarrassing noises virtually at the point of emission. It cost a vast amount but it was paid for by the NHS as this particular person has a serious disability.

The only dubious benefit I could see was the sound masking facility. Waste of money if you ask me.

I hear they are popular with Chilean miners.

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Guest BetterOffOnBenefits

The trouble is all this talk about pent up demand all the time, so all vendors know there are lots of potential buyers. I thinlk a lot will try and hang on as long as they can.

It will fall slowly, unless they chop housing benefit in half...... tha

I'm sure they will but too many people (present company excepted) interpret this as the sellers "winning".

They won't, because much of the "pent up demand" hasn't got the funds to back it up and won't have for the foreseeable.

So we'll just see a big standoff, one that sellers cannot win.

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  • 261 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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