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Sky News:- House Prices Fall......


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I put my house on the market 3 weeks ago. 3 viewings in first weekend and nothing since. Anticipating renting it out which I am fairly relaxed about. Current Mortgage repayments £222 pcm. As long as I can cover that, agents fees and repairs I shall sleep soundly ;)

The house is in the cambridge area and despite it's relative prosperity there seems to be a dearth of buyers. The other possibility is that its school holidays and the house is 4 bedroom so likely to attract families who are otherwise tied up with hols and kids stuff.

Edited by Kurt Barlow
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The house is in the cambridge area and despite it's relative prosperity there seems to be a dearth of buyers. The other possibility is that its school holidays and the house is 4 bedroom so likely to attract families who are otherwise tied up with hols and kids stuff.

I agree - your area is special and will not see big house price falls

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We have had the mini credit crunch, global economy fallout crash...then we had the mini (can't believe it's true, property always goes up) dead cat/bull bounce that soaked up any surplus cash funds...now we will get the real price corrections, that will at last put us all back on the road to some sense of economic normality. ;)

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The house is in the cambridge area and despite it's relative prosperity there seems to be a dearth of buyers. The other possibility is that its school holidays and the house is 4 bedroom so likely to attract families who are otherwise tied up with hols and kids stuff.

******! It has the same number of buyers as anywhere else. Your price is too high. If you rent it out you will rue the day you did not sell and use the surplus funds to make money.

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We had an ODD Bear story, now its a flood with data to back it up, Nope it turned Gents, 25% cuts from asking price are now happening.

Mike

these are nothing compared to what you posted earlier (marketoracle article) that was some scary stuff.

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I put my house on the market 3 weeks ago. 3 viewings in first weekend and nothing since. Anticipating renting it out which I am fairly relaxed about. Current Mortgage repayments £222 pcm. As long as I can cover that, agents fees and repairs I shall sleep soundly ;)

The house is in the cambridge area and despite it's relative prosperity there seems to be a dearth of buyers. The other possibility is that its school holidays and the house is 4 bedroom so likely to attract families who are otherwise tied up with hols and kids stuff.

You forgot to add in the 3 grand + a month your house is losing in value on top of the £222 mortgage interest. £3222 a month loss should concern you. It would me.

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I put my house on the market 3 weeks ago. 3 viewings in first weekend and nothing since. Anticipating renting it out which I am fairly relaxed about. Current Mortgage repayments £222 pcm. As long as I can cover that, agents fees and repairs I shall sleep soundly ;)

The house is in the cambridge area and despite it's relative prosperity there seems to be a dearth of buyers. The other possibility is that its school holidays and the house is 4 bedroom so likely to attract families who are otherwise tied up with hols and kids stuff.

Hey, that's funny. I'm in the Cambridge area, wanting a 4 bed house. Want to accept the 40% haircut that brings it back to the long term average ? You can't lose , PM me !

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You forgot to add in the 3 grand + a month your house is losing in value on top of the £222 mortgage interest. £3222 a month loss should concern you. It would me.

Maybe maybe. But then the OS mortgage is approximately 7 months net income and repayments are covered by my first days pay each month. If I come back from the ME in the next 2 years I would like to reoccupy the house anyway. I view renting as getting someone in to look after the house whilst I'm gone and pay me some income.

Anyway all you STR / hold off boys are sending rents up up and away round here! :lol:

Also factor in the risk of £ going all Zimbabwe stylee and hanging onto a tangible asset may not be such a bad hedge against such outcomes <_<

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laugh.gif yes, like no more money? Viewings will be a thing of the past until people start dropping their prices. 25% would be the minumum sensible start for where we are now.

I voluntarily shaved £12K off the EA's suggested price. If someone makes an offer shaving another £10K off I would be inclined to accept.

However See my previous post - I am not obsessed by the 'value'. In the event I come back in 1-2 years its in a good location and I would reoccupy. In any case should I choose to I will own outright in 12 months time. Fortunately my post in the Desert by the Sea comes with a 1 bed house for the princely sum of $80 a month all inclusive so living costs will be somewhat low.

Edited by Kurt Barlow
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  • 439 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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