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NuBrit

Is The Crash Getting Crashier?

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I still keep an eye out, but I've definitely noticed that there are a lot of new properties coming onto the market at lower prices, and existing properties are starting to get some serious haircuts. Anyone else seeeing the same? Only going by what I see on propertynews/propertybee.

Thoughts?

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The way i see it the crash was like a car hitting a brick wall...sudden stop...then the dust settled and your thinking its all over....then (now) you see your car has ended up in the middle of the road and you are about to be hit by a lorry.....not so much a double dip but a double smash! Good luck at A+E

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The way i see it the crash was like a car hitting a brick wall...sudden stop...then the dust settled and your thinking its all over....then (now) you see your car has ended up in the middle of the road and you are about to be hit by a lorry.....not so much a double dip but a double smash! Good luck at A+E

What a beautiful picture you paint.

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I still keep an eye out, but I've definitely noticed that there are a lot of new properties coming onto the market at lower prices, and existing properties are starting to get some serious haircuts. Anyone else seeeing the same? Only going by what I see on propertynews/propertybee.

Thoughts?

I'm not seeing that in my area sadly (Colchester, Essex). Am still seeing just the 5-10k reductions on some of the properties listed for sale, and the number of properties coming onto the market has reduced in the last couple of months. Others have reported this trend too.

It would be helpful if posters gave their location so that we get a better picture of what is going on nationally. There appear to be big differences in what is going on depending on location.

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I'm not seeing that in my area sadly (Colchester, Essex). Am still seeing just the 5-10k reductions on some of the properties listed for sale, and the number of properties coming onto the market has reduced in the last couple of months. Others have reported this trend too.

It would be helpful if posters gave their location so that we get a better picture of what is going on nationally. There appear to be big differences in what is going on depending on location.

I have noticed the same near Bristol. There has been a definite slow down in recent weeks. Nothing is shifting but there has not been any new houses coming on the market and existing houses have not had any price reductions in weeks. It is all a bit depressing but then we may not be realistic, it has taken years to inflate, it can't deflate in days. Besides, until rates go up and/or people actually start losing their jobs (don't wish that to anyone BTW) then I can't really see much crash happening.

People don't need to sell (can still repay mortgage) so I can't see why they would budge. We need a strong economic recovery (where is that going to come from?) for rates to rise and prices to drop. Am getting really frustrated I must say....

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We're talking about Northern Ireland, mate ;)

My dream is a decent detatched house in the Craigavon area for about £100,000. Something like this would do the job - www.propertynews.com/4626b

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I think we are on the edge of something just now - just at tipping point. But I may be wrong.

The estate agent who i sold my house with recently made a comment when he was showing me around a house that he feels that they are going to drop quite a bit in the next 6 months.

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We're talking about Northern Ireland, mate ;)

My dream is a decent detatched house in the Craigavon area for about £100,000. Something like this would do the job - www.propertynews.com/4626b

Yeah, I belatedly realised I was in the NI regional forum :D just accessed it from the website front page.

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noticed this recently:

http://www.propertypal.com/78-the-old-fort-strathfoyle-lderry/127156

asking price of £75k, for a 3 bed detached house in strathfoyle (l'derry).

propertybee tells me that a semi in this development was £165k in May 2008.

http://www.propertynews.com/brochure.php?r=1&c=16&s=112307740&i=15&p=PNC179448&fp=1&sort=l2h

unfortunately that whole development is built underneath HUGE electricity pylons. some houses have them in their garden. most hussies have the cabled overhead. but still...£75k for a 3bed detached.

some fall in price though, from £165k for a semi down to £75k for a detached.

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Gordon Brown managed to stop UK house prices falling with a massive stimulus package. So for a while the whole country was, once again, living beyond it's means. The new government knows that was unsustainable.

The cuts we are hearing about in the news daily is leading to a downturn in the UK housing market data once again. When it is in the news daily about cuts and falling UK house prices then this will lead to further falls in Northern Ireland.

Prices will stop falling when we reach a sustainable level. My guess is that level is at about 3.5 times average single income.

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When it is in the news daily about cuts and falling UK house prices then this will lead to further falls in Northern Ireland.

Nationwide report for Oct fig's released today. Heard on the radio news that it has dropped -0.7% for the month.

Russell Howard was on radio 1 being interviewed and he was talking about Kanye West having diamonds for teeth and he made a joke about him being unaware of the state of the UK economy and 'falling house prices'.

Would appear that house price drops are at least getting mentioned more and more now as opposed to the propaganda of house prices rising.

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With ourselves, and speaking to a few other developers, sales have certainly increased since the spending review was released. Sales for everyone was down since before the July holidays, as I posted her before on.

The same thing happened in May after the budget. People seamed to be holding back until they seen what was happening. Judging, by their actions they believe the outlook is not as bad as they had been led to believe.

I only go on what is happening on the ground, with reservations. I can't really pay too much attention to it until I see if it is sustained. At the moment I would admit I am only making up what was lost in the previous 3 months. But a very positive two weeks.

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A house similar to the one I'm in in the moment, just came on to the market at £110k. Oct 2007 same house was bought for £249k :o

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I am not seeing sanity just yet (east belfast/N.Down still needs 200k to get something I would consider). What I do see is a lot of properties which have come online in the last 3 months....

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  • 140 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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