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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

There must be ten thousand or more houses in Swansea and Gower that an estate agent would value at over the magic £250 threshold, yet the local job market is such that only a few hundred earn enough to raise a deposit and service that kind of debt - and these are mostly in the public sector. £250K+ houses are either not selling, or changing hands between these landed boomers, perpetuating a delusion. This is not just any old bubble, this is a bubble that has detached itself from reality and is now drifting above 95% of the local population. Something has to give. But when it does, might Swansea go back to being the crime afflicted city it was in the 80's and early 90's? What happens when they turn the benefits tap off and the public sector gravy train stops? Same city. Same divisions.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

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Closest the Beeboids could get to industry - "removals", still on topic for this thread, I think. Well not much moving and a lot storing in this area.

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No significant drops in my area (Northamptonshire)

Everything is still massively overpriced and only the odd house is being reduced by 1-2% here or there.

Not just that, but of late the quality of houses coming on is pretty poor, garden-grabbed shoeboxes, shared driveways, properties with clawback, stuff in need of renovation (at renovated prices)

Edited by exiges

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Rents seem to be creeping up.

Letter from the LA about renewing our tenancy pretty much says to expect a rent rise. Am not really in a position to argue either, very little available here as an alternative.

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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

Have just done a check on Rightmove for my target area (suburb just outside Glasgow of the kind the estate agents always say is different and won't fall). Of the 30 houses added in our price range over the past 14 days, 14 have had price reductions. The best reduction is o/o270k to o/o 255k to o/o 229k in 2 months but most are showing 10% drops. HPC is happening again in this area and I think that we are pretty close to the prices and sentiment being felt in 2008 with more drops to come. I keep picturing the bubble graph and thinking this must be what the top of the fear phase looks like. :D

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You can see my area on the South east forum. New listings picked slightly again over the last couple of weeks. I expect stock levels will fall throughout the winter and until the spring buying season!

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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

Just wait for the massive public sector pay cull that will hit that part of the "public sector middle management" world. Lovely area, but naff all "Real Jobs", although beautiful parts of Wales will always do well from rat racers down sizing.

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Plenty of price drops in South Lancs / North Manchester. This is pretty normal -

16 September 2010

* Price changed: from '£274,950' to '£267,950' [Found by n/a]

28 July 2010

* Price changed: from '£284,950' to '£274,950' [Found by n/a]

19 June 2010

* Initial entry found. [Found by n/a]

Also, a staggering number of new listings in the last couple of weeks. Undeterred by the stagnation experienced by the existing sellers already on the market, new sellers are pitching their asking prices at the kind of levels the existing ones started out with 6 to 12 months ago.

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Have just done a check on Rightmove for my target area (suburb just outside Glasgow of the kind the estate agents always say is different and won't fall). Of the 30 houses added in our price range over the past 14 days, 14 have had price reductions. The best reduction is o/o270k to o/o 255k to o/o 229k in 2 months but most are showing 10% drops. HPC is happening again in this area and I think that we are pretty close to the prices and sentiment being felt in 2008 with more drops to come. I keep picturing the bubble graph and thinking this must be what the top of the fear phase looks like. :D

Good stuff. 90% of those new lower asking prices... :)

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In Worcestershire, new properties have stopped coming on to the market.

Sensibly priced is selling (We are just about to buy at about 15% off 2007) but lots of over priced dross is sticking.

Contacted by agent re a property that we had viewed earlier in the year. Was on at £285K now dropped to £269K. Pointed out that it was at least still £50K overpriced when we were buying a comparable property for less than £200K.

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In Worcestershire, new properties have stopped coming on to the market.

Sensibly priced is selling (We are just about to buy at about 15% off 2007) but lots of over priced dross is sticking.

Contacted by agent re a property that we had viewed earlier in the year. Was on at £285K now dropped to £269K. Pointed out that it was at least still £50K overpriced when we were buying a comparable property for less than £200K.

Well done.

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or changing hands between these landed boomers, perpetuating a delusion. This is not just any old bubble, this is a bubble that has detached itself from reality and is now drifting above 95% of the local population

that's it all over, and we don't see the forced sales showing up and the repos. The numbers have been fixed much more effectively this time. We just the big equity/deposit buyers shifting around in a bubble and those numbers have been presented as the reality of the housing market. Could take some overcoming.

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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

Hi

Sales in a regular search area in North Swindon seem to have been subdued through the summer however in the last few days 19 out of 183 properties in this area have sold. (newly SSTC)

(Cross post from SW regional board)

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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

I am getting a bit worried as seeing lots of sold boards going up over the past 2 weeks.

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Cambridge Oct 2010 is a dual market:

- Sub £250K prices lowering with lots coming on (BTLS dumping on the market)

- Family house prices still flat due to shortage of supply (BTLS have converted most to student 'cells')

- Some real dross that has been sticking has been reduced and gone

It's a strange market around Cambridge though

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I am getting a bit worried as seeing lots of sold boards going up over the past 2 weeks.

yes, I see this too....course, they come down again a week later.

One up the road...was for sale last year, then rent...then rented, two months ago back for sale....then for rent again...now let...but empty.

One accross the Road sold June....still SOLD SSTC and still empty.

Repo 100 yards away, was sold March time....but people just come now to cut the lawn every now and again.....back on rightmove now.

Its all very strange.

Its like many sellers want to sell, but get messages every month that conflict.....course, agents need actual sales for commission, and yet they also need to scare the market into buying by creating an impression of shortage....

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Don't know about you lot but the new ones coming on the market in my part of the World is drying up. Looks like there is going to be a massive hold-off, hold-out, keep fingers crossed thing going on.

I have to admit that I was hoping to see fall more price falls if not bigger ones. Here is a bit of a great post from Geek Man over on the Wales sub-forum.

What are you lot seeing elsewhere - still big price drops in Brighton... lucky so and sos! :P

Supply is increasing everywhere. Jobs are being lost and the knock-on effect of the cuts is starting to bite. It is an EA myth that people can just "wauit it out." Most people have no choice but to sell if:

1. They lose their job

2. Job move

3. Health issues/death

4. Increase in size of family

5. Income sdrop for a huge variety of reasons

6. Divorce or, if shacked up, they don't fany each other anymore

7. Wales will be hit the hardest of any area in the UK as it rose the most in relation to income (London, Brighton, Oxbridge excepted).

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In the days of rising prices we did not see properties dropping their asking prices as rises always caught them up.

Now selling prices have stagnated we are seeing price drops from the initial inflated estate agent asking prices.

This seems quite obvious to me. You do not need dropping selling prices to see loads of asking price drops.

People will always try to get the best price they possibly can.

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http://www.bloomberg.com/news/2010-10-26/cameron-s-budget-gamble-pays-off-for-now-as-economy-eases-investor-qualms.html

“He’s lucky at the moment, but there’s only a certain amount of luck you get, and he’s having all of his early,” said Steven Fielding, director of the Centre for British Politics at Nottingham University. “Can you really take out half a million public-sector jobs without that having an effect on the economy? There’s going to be a very hard slog over the next four years.”

Lot of euphoria over yesterdays' "unexepected" drop in GDP from 1.2% in the 2nd Q to 0.8% in the 3rd Q. Fact is, its slwoing down and th cuts will impact everythinjg--especially jobs. Jobs and loose (irresponsible) credit are the main drivers of HPI.

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It has gone quit here in W. Cornwall, but then it's quite a small area. There were regularly 4-5 new properties in my last 3 day search for a 5 mile area - now most days this is 1 or zero.

On the bright side there are lots of reductions, many in the 10% range

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I'm not seeing anything worth buying in Northamptonshire either.

I am seeing lots of sales falling through !!!

Also, see this one today from a twitchy developer:

http://www.rightmove.co.uk/property-for-sale/property-27892762.html

26 October 2010

* Brief Description changed: An impressive, spacious and most thoughtfully redesigned and extended five double bedroom detached family residence set on a prime residential road within walking distance to the amenities of Mere Green. Completion scheduled for Autumn 2010. Now requires internal completion. Can be purchased as it stands if you wish to fini... finish o...

* Price changed: from 'Guide Price £725,000' to 'Offers in Region of £500,000'

24 September 2010

* Initial entry found. [Found by n/a]

£225K off, not bad.

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Estate agents on my fair Island keep removing/adding properties in a bid to try and make them look fresh on Globrix.

But having monitoring house prices here for 2 years plus as I contemplate getting on the ladder I note most properties are still available....zzzz

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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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