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Rightmove Depression

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Just browsing Rightmove and I'm looking at the houses thinking....the prices are a joke and it's all quite depressing.

I last experienced this feeling in 2007 after I sold my house and was looking for a place to live ( before I found HPC ).

I have exactly the same sickly feeling wondering why anyone in their right mind would pay such prices and WHO is actually buying them.

I'm in the top 5-10% salaries for the UK and have money in the bank...I just cant imagine buying any of the over-priced rubbish or the un-believably unaffordable decent houses.

If I'm feeling this again then I'm sure everyone else is.

The solution....the real recovery.

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Living in Aus at the moment but still keep an eye on a few old stomping grounds in UK in case I return. I have noticed there have been far fewer price reductions of late, also far more properties going under offer.

I can only put it down to a growing fear of holding cash. Maybe the ZIRP and the threat of more QE have done the trick. It is important to remember that (unlike on this site) most people are unsophisticated investors, they are comfortable with cash and with property, maybe they are starting to see property as the safer option.

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It's not only the prices that are depressing either, it's the quality of the stock out there. Some stuff I see with no decent parking, cramped little rooms, etc. I wouldn't touch no matter how low it was, but yet this junk is selling for upwards of £150k. The housing stock in this country is embarrassing.

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Very little stock is moving, there are large numbers of households already struggling to pay mortgages, we have a VAT rise and a fuel duty rise in January as well as higher gas prices and inflation of 7-8%, Government support for unemployed mortgage holders is coming to the end of its two-year run for many, banks will not lend money to buy property at these prices, I can only see prices going one way from here.

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I have to say I am with you on this one. I too have felt utterly depressed when looking at the house prices on rightmove. However, with that being said I am sort of forced to look. I am currently living with my gf's parents after moving for a new job. It is slowly wearing thin after having a place to myself previously. I am aiming in the 140- 170k price range paying with cash.

However, the type of house you get for this money is to be honest utterly shite. I am now looking to take out a small mortgage to push my budget to 200k and I have to say the choice even there is few and far between. I have a viewing on saturday which I am hoping is the one. I know damn well the prices over the next 5 years are likely to take a slow and painful slump but due to my circumstances I am caught in a rut. I have to find a house I am willing to live in for undoubtebly the rest of my life, which doesnt make the search any easier.

Searching is painful, it is demoralising and when you go to view what you feel is "about right" price wise you get unveiled the slums that some people like to call home. My issue really is that it is not just that houses seem to be around 30k overpriced in my bracket, but the fact that people putting their houses up seem to not really give a crap about how they present it. The amount of mess I have seen is disgusting but at the same time I suppose this is to be expected, the same houses I look at now were probably worth 90k when bought... "a different class of person" ... sorry to stereotype there, but really it cant be far from the truth.

Edited by munkee

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My issue really is that it is not just that houses seem to be around 30k overpriced in my bracket, but the fact that people putting their houses up seem to not really give a crap about how they present it. The amount of mess I have seen is disgusting but at the same time I suppose this is to be expected, the same houses I look at now were probably worth 90k when bought... "a different type class of person" ... sorry to stereotype there.

Absolutely, haven't these people heard of twigs in vases? ;)

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Living in Aus at the moment but still keep an eye on a few old stomping grounds in UK in case I return. I have noticed there have been far fewer price reductions of late, also far more properties going under offer.

I can only put it down to a growing fear of holding cash. Maybe the ZIRP and the threat of more QE have done the trick. It is important to remember that (unlike on this site) most people are unsophisticated investors, they are comfortable with cash and with property, maybe they are starting to see property as the safer option.

Probably more likely the time of year. I doubt many potential homebuyers will not what QE is let alone any of it's potential effects. The same does for the vast majority of property investors. As for ZIRP it's been here for 18 months now the effects have already been felt.

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I have to say I am with you on this one. I too have felt utterly depressed when looking at the house prices on rightmove. However, with that being said I am sort of forced to look. I am currently living with my gf's parents after moving for a new job. It is slowly wearing thin after having a place to myself previously. I am aiming in the 140- 170k price range paying with cash.

However, the type of house you get for this money is to be honest utterly shite. I am now looking to take out a small mortgage to push my budget to 200k and I have to say the choice even there is few and far between. I have a viewing on saturday which I am hoping is the one. I know damn well the prices over the next 5 years are likely to take a slow and painful slump but due to my circumstances I am caught in a rut. I have to find a house I am willing to live in for undoubtebly the rest of my life, which doesnt make the search any easier.

Searching is painful, it is demoralising and when you go to view what you feel is "about right" price wise you get unveiled the slums that some people like to call home. My issue really is that it is not just that houses seem to be around 30k overpriced in my bracket, but the fact that people putting their houses up seem to not really give a crap about how they present it. The amount of mess I have seen is disgusting but at the same time I suppose this is to be expected, the same houses I look at now were probably worth 90k when bought... "a different class of person" ... sorry to stereotype there, but really it cant be far from the truth.

But you were quite happy for some mug to pay over the odds for the house you just sold?

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On the other site it shows you price reductions, and the price the house last sold for (it's not complete for all properties). You can try to guess what the seller can go down to. Using assumptions and by previous discounting actions you can see that there a number of sellers out there who cannot sell below a price (unfortunately for them it's above market demanded price). Whether there's a demand recovery or someone comes along eventually well that could happen. Alternatively demand maybe be zero at that price.

Everyone is after value so why not in houses ?

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Searching is painful, it is demoralising and when you go to view what you feel is "about right" price wise you get unveiled the slums that some people like to call home. My issue really is that it is not just that houses seem to be around 30k overpriced in my bracket, but the fact that people putting their houses up seem to not really give a crap about how they present it. The amount of mess I have seen is disgusting but at the same time I suppose this is to be expected, the same houses I look at now were probably worth 90k when bought... "a different class of person" ... sorry to stereotype there, but really it cant be far from the truth.

Looking in london or easily commutable... most seem to be between 100k and 300k overpriced! Just for a fairly standard family house.

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I have to say I am with you on this one. I too have felt utterly depressed when looking at the house prices on rightmove. However, with that being said I am sort of forced to look. I am currently living with my gf's parents after moving for a new job. It is slowly wearing thin after having a place to myself previously. I am aiming in the 140- 170k price range paying with cash.

However, the type of house you get for this money is to be honest utterly shite. I am now looking to take out a small mortgage to push my budget to 200k and I have to say the choice even there is few and far between. I have a viewing on saturday which I am hoping is the one. I know damn well the prices over the next 5 years are likely to take a slow and painful slump but due to my circumstances I am caught in a rut. I have to find a house I am willing to live in for undoubtebly the rest of my life, which doesnt make the search any easier.

Searching is painful, it is demoralising and when you go to view what you feel is "about right" price wise you get unveiled the slums that some people like to call home. My issue really is that it is not just that houses seem to be around 30k overpriced in my bracket, but the fact that people putting their houses up seem to not really give a crap about how they present it. The amount of mess I have seen is disgusting but at the same time I suppose this is to be expected, the same houses I look at now were probably worth 90k when bought... "a different class of person" ... sorry to stereotype there, but really it cant be far from the truth.

Why not rent for a year?

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Probably more likely the time of year. I doubt many potential homebuyers will not what QE is let alone any of it's potential effects. The same does for the vast majority of property investors. As for ZIRP it's been here for 18 months now the effects have already been felt.

The effect of ZIRP is ongoing, everytime a cash deposit holder gets their statement they'll be reminded of it. Most people may not be sophisticated investors but they are not completely stupid.

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Just browsing Rightmove and I'm looking at the houses thinking....the prices are a joke and it's all quite depressing.

I last experienced this feeling in 2007 after I sold my house and was looking for a place to live ( before I found HPC ).

I have exactly the same sickly feeling wondering why anyone in their right mind would pay such prices and WHO is actually buying them.

I'm in the top 5-10% salaries for the UK and have money in the bank...I just cant imagine buying any of the over-priced rubbish or the un-believably unaffordable decent houses.

If I'm feeling this again then I'm sure everyone else is.

The solution....the real recovery.

My sentiments EXACTLY. Anything under £400k in this country is really quite vile compared with similar gaffs overseas for the same dosh.

In fact I am starting to think about buying in the US and retiring there instead of here. When you compare what you get here for £250k with what you can buy in a NICE area in the US for $150K its quite sickening. Chapel Hill, NC looks good to me at the moment--low crime, huge Uni, decent countryside, 3 hours from great Atlantic side beaches, cosmopolitan, aparnelty good health care and not as exorbitant as many think if you can go with catastrophic cover.

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I just can't imagine the mindset of someone who, peeved at getting no interest, decides to enter into business/competition in the fraught world of "tenants-from-hell", Rigsby, "global housing bubble", leverage, "new rules for landlords", late light calls about a boiler and Nicholas van Hoogstraten, when you could just buy a Unit Trust.

I agree with you, but decades of 'property only ever goes up in the long run' brainwashing have left their mark. People in the UK 'BELIEVE' in property, they think they understand it.

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Very little stock is moving, there are large numbers of households already struggling to pay mortgages, we have a VAT rise and a fuel duty rise in January as well as higher gas prices and inflation of 7-8%, Government support for unemployed mortgage holders is coming to the end of its two-year run for many, banks will not lend money to buy property at these prices, I can only see prices going one way from here.

So we all keep saying. And wishing and hoping, year after year. But all the theorising has been just that. Theory. There is the inescapable fact to consider that mortgage repayments are currently peanuts (I'm quoting from many I know who have substantial mortgages) and until that changes and interest rates rise, houses are going to remain lousy value. Sad but true.

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Just browsing Rightmove and I'm looking at the houses thinking....the prices are a joke and it's all quite depressing.

I last experienced this feeling in 2007 after I sold my house and was looking for a place to live ( before I found HPC ).

I have exactly the same sickly feeling wondering why anyone in their right mind would pay such prices and WHO is actually buying them.

I'm in the top 5-10% salaries for the UK and have money in the bank...I just cant imagine buying any of the over-priced rubbish or the un-believably unaffordable decent houses.

If I'm feeling this again then I'm sure everyone else is.

The solution....the real recovery.

The same person that bought your house at the top of the market perchance?

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The effect of ZIRP is ongoing, everytime a cash deposit holder gets their statement they'll be reminded of it. Most people may not be sophisticated investors but they are not completely stupid.

Yes but what I'm saying is ZIRP will not cause a sudden pick up now. It's effect is already here and has been for 18months.

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I have to find a house I am willing to live in for undoubtebly the rest of my life, which doesnt make the search any easier.

I doubt it very much. Ever heard of 2 year leases?

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Just browsing Rightmove and I'm looking at the houses thinking....the prices are a joke and it's all quite depressing.

I last experienced this feeling in 2007 after I sold my house and was looking for a place to live ( before I found HPC ).

I have exactly the same sickly feeling wondering why anyone in their right mind would pay such prices and WHO is actually buying them.

I'm in the top 5-10% salaries for the UK and have money in the bank...I just cant imagine buying any of the over-priced rubbish or the un-believably unaffordable decent houses.

If I'm feeling this again then I'm sure everyone else is.

The solution....the real recovery.

Did I post this?

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It is depressing. The worst is when you make enquiries to an agent through rightmove and your bombarded with crap that should be knocked down or places slap bang in the middle of social housing. An agent recently called me about an ex-council dive of a property in watford at an absolutely ridiculous price, what is depressing is all I can afford with my 250k is a house that others who don't have to work are getting for free. I became even more depressed when a house in Potters Bar I viewed and thought was a disgrace, basically bought as one house and split into two on the cheap, sold a few days ago.

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So we all keep saying. And wishing and hoping, year after year. But all the theorising has been just that. Theory. There is the inescapable fact to consider that mortgage repayments are currently peanuts (I'm quoting from many I know who have substantial mortgages) and until that changes and interest rates rise, houses are going to remain lousy value. Sad but true.

But the difference is year after year it was all just theory.

Now the things that Harry stated are facts, try are things that will happen and while this won't gaurantee HPC is pretty much the most likely it's ever been.

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Agreed. i don't know why I bother looking but I carry out the same 5 mile radius search every day, looking for a glimmer of realism to enter the market but nothing. just street after street of depressing victorian terraced housing with 'courtyard garden' and lounges too small to put a coffee table in.

The thing is I'm getting to the stage where i'd be willing to pay slightly over what i deem to be a reasonable price, for a decent house, but they're all shit.

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Agreed. i don't know why I bother looking but I carry out the same 5 mile radius search every day, looking for a glimmer of realism to enter the market but nothing. just street after street of depressing victorian terraced housing with 'courtyard garden' and lounges too small to put a coffee table in.

The thing is I'm getting to the stage where i'd be willing to pay slightly over what i deem to be a reasonable price, for a decent house, but they're all shit.

Thanks for that, it made me laugh and cheered me right up :lol::lol::lol::lol:

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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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