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It's Beartastic Out There Today!

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Sterling's just taken a nosedive too, as Broadbent is revealed to be an inflation dove.

Yep, a rate rise just took another step back. I can't see it happening this year any more not with Greece kicking off as it is.

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“The greatest fall in transactions appears to be in the South-East and London, where property prices have grown by 2.6% and 7.4% respectively in the last year"

If there are fewer transactions then the growth in price is nonsensical. It looks like there are almost no buyers left in London and the South East. The only way is down.

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If there are fewer transactions then the growth in price is nonsensical. It looks like there are almost no buyers left in London and the South East. The only way is down.

Doesn't worse economic news make people more determined than ever to make money on their property or not accept a lower price?

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Doesn't worse economic news make people more determined than ever to make money on their property or not accept a lower price?

Yes, lovely and very touching humane reason:

I cannot afford to sell at a lower price.

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Supply anecdotal - this year I've been watching the supply of property in my postcode on Rightmove to see if it could breach 460. A couple of times it has danced up to 459 then dropped back a handful. This flirtation has gone on a while. Last Saturday the number was finally breached and now they are pouring in. 483 today :o

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It's good that repossession story's get aired.

People who are close to the edge will read these news articles and think that it is acceptable to get repossessed and that it is not just them. This will have a snowball effect on the level of repossessions.

What is needed is sediment change and that is what is currently happening.

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Very interesting to see the interest the mortgage story is attracting on the BBC site. Sheeple coming to the end of their fixed deals and not having enough equity to get a better rate...

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Supply anecdotal - this year I've been watching the supply of property in my postcode on Rightmove to see if it could breach 460. A couple of times it has danced up to 459 then dropped back a handful. This flirtation has gone on a while. Last Saturday the number was finally breached and now they are pouring in. 483 today :o

Just checked mine, never peaked at 500 last year. Now its 564.

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Sterling's just taken a nosedive too, as Broadbent is revealed to be an inflation dove.

The Euro is soaring on the back of sovereign debt troubles. Its headed for a fall soon.

Edited by Realistbear

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Doesn't worse economic news make people more determined than ever to make money on their property or not accept a lower price?

Depends how desperate they become. I used to feel it was urgent to own - now I'm willing to wait until after they've slashed their own wrists in desperation... then negotiate a further discount for the blood-stains on the carpet.

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GBP/USD 1.6157 -0.0087 (-0.54%)

GBP/EUR 1.1220 -0.0047 (-0.42%)

GBP/JPY 129.5790 -0.5679 (-0.44%)

GBP/HKD 12.5857 -0.0694 (-0.55%)

GBP/CNY 10.4421 -0.0596 (-0.57%)

GBP/AUD 1.5232 -0.0076 (-0.50%)

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Depends how desperate they become. I used to feel it was urgent to own - now I'm willing to wait until after they've slashed their own wrists in desperation... then negotiate a further discount for the blood-stains on the carpet.

That's horrible!

But funny.

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Yep, a rate rise just took another step back. I can't see it happening this year any more not with Greece kicking off as it is.

If they don't do it this year, there will be one factor helping them next year: The VAT increase from 1st of Jan 2011 does show in the current annual inflation index. But from Jan 2012, it will stop doing so, as it will then compare 2 sets of prices, both already with the higher VAT.

Though we may still have further international factors (oil, commodities).

And if it is the BoE the "bank" who buying most Gilts, with freshly printed money, then we will have inflation.

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Depends how desperate they become. I used to feel it was urgent to own - now I'm willing to wait until after they've slashed their own wrists in desperation... then negotiate a further discount for the blood-stains on the carpet.

So did many others, no doubt now regretting that urge?

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I cannot afford to sell at a lower price.

I'd say many cannot afford not to. No buyers (even in London & SE) and a rush to sell can only lead to a collapse.

We are 30 months on from interest rates hitting 0.5% and the newer fixed/tracker deals look for 60% LTV to get the sort of rates offered back then. If your LTV is 100% (and many are with the price falls), you'll just have to take the SVR. If you are lucky it tracks BoE, if not....

Little wonder the BoE are not raising interest rates. There could be carnage within a year if they do.

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Depends how desperate they become. I used to feel it was urgent to own - now I'm willing to wait until after they've slashed their own wrists in desperation... then negotiate a further discount for the blood-stains on the carpet.

One of the harshest posts I've ever seen in this forum, ever. :o

Yet, I understand your feelings. :ph34r:

Is this social breakdown or what?? :blink:

Thanks Gordon, thanks Labour. :angry:

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  • 284 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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