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dubsie

House Prices Are Falling

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More and more evidence is showing that house prices are falling nationally. Obviously there are those places where prices are still increasing but on the whole the market is very weak.

The Lenders and Estate Agents would like you to think otherwise but despite and increase in sales in September house prices continue to fall. I suspect that home owners are starting to accept reduced offers and thus resulting in a slight increase in sales.

Another factor which is likely to influence house prices is the poor economy and I suspect that job losses in the new year with increase house price deflation.

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Dubsie, you betcha house prices are falling........read this forum and weep, real people with real mega problems as they struggle to offload their properties http://britishexpats.com/forum/showthread....ght=house+sales

Some poor folk there with houses on the market for 10 months, very few offers, reduced prices, broken chains etc etc. This is the real world NOW! I shudder to think what it will be like when the market slide really gets underway.

Edited by make my day

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Dubsie, you betcha house prices are falling........read this forum and weep, real people with real mega problems as they struggle to offload their properties http://britishexpats.com/forum/showthread....ght=house+sales

Some poor folk there with houses on the market for 10 months, very few offers, reduced prices, broken chains etc etc. This is the real world NOW! I shudder to think what it will be like when the market slide really gets underway.

That forum reads like a crowd of people running down the road arms in the air, pushing over anything in their way trying to reach the station on time before the last great property money train pulls out of the UK!!

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Dubsie, you betcha house prices are falling........read this forum and weep, real people with real mega problems as they struggle to offload their properties http://britishexpats.com/forum/showthread....ght=house+sales

Some poor folk there with houses on the market for 10 months, very few offers, reduced prices, broken chains etc etc. This is the real world NOW! I shudder to think what it will be like when the market slide really gets underway.

I run a business and I'm reading the forums looking whether other companies are feeling the pinch as well. Our turnover has been halved and the signs are that it is getting a lot worse. I've never known it so bad.

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The Warmest and Driest Autumn on record?

Did the punters turn out in their thousands to buy houses after the "tradionally quiet August period :blink: "

Helllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll, No!

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The Warmest and Driest Autumn on record?

Did the punters turn out in their thousands to buy houses after the "tradionally quiet August period :blink: "

Helllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll, No!

and with one of the coldest winters on the way, i don't think buyers are going to venture out on mass.

ril

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I run a business and I'm reading the forums looking whether other companies are feeling the pinch as well. Our turnover has been halved and the signs are that it is getting a lot worse. I've never known it so bad.

I have a friend who has some retail interests, about 20-30% down according to him last time I asked.

I have no idea how some businesses are even continuing considering the huge hidden inflation of the last few years, many totally inescapable costs have skyrocketed, it really is rather bewildering that a) it was allowed, nee ecouraged to happen and B) the visible fallout hasn't been greater yet.

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I have a friend who has some retail interests, about 20-30% down according to him last time I asked.

I have no idea how some businesses are even continuing considering the huge hidden inflation of the last few years, many totally inescapable costs have skyrocketed, it really is rather bewildering that a) it was allowed, nee ecouraged to happen and B) the visible fallout hasn't been greater yet.

It's very worrying, but all the government seem to be bothered about is bird flu. Perhaps the Bird Flu is a smoke screen for all the bad things that are happening. Did you know that congress has given the ok to dig for oil in Alaskas largest nature reserve; where is this on the news. No Bird Flu is more important.

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Perhaps the Bird Flu is a smoke screen

I was trying to remember if the government put the same amount of effort into Aid’s when that first showed up – I remember the government adverts but I don’t remember them stockpiling condoms (enough for every one if the disease was to cross from gay to straight).

I also remember something about putting them in a field and bombing the barstards but that might have been something else on TV at the time

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More and more evidence is showing that house prices are falling nationally. Obviously there are those places where prices are still increasing but on the whole the market is very weak.

What (non-anecdotal) evidence are you referring to?

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Dubsie, you betcha house prices are falling........read this forum and weep, real people with real mega problems as they struggle to offload their properties http://britishexpats.com/forum/showthread....ght=house+sales

Some poor folk there with houses on the market for 10 months, very few offers, reduced prices, broken chains etc etc. This is the real world NOW! I shudder to think what it will be like when the market slide really gets underway.

The funniest thing about this is these people are desperate to buy in Australia - aren't house prices already falling there?

B)

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The funniest thing about this is these people are desperate to buy in Australia - aren't house prices already falling there?

B)

Yep, Sydney is even further along the curve than we are.

Anecdote from the site:

Been on the market for nearly a year.

Dropped price by 50K since then.

Have now got 5 agents.

Have had one serious offer which we accepted but they needed to sell there house, then they split up.

2 stupid offers 50k off.

But one couple very interested have been for 5mths but need to sell theres. They have got 2 agents and have dropped by 30k.

Had a viewing yetserday they have already sold, so we are keeping our fingers crossed.

We are not dropping anymore but have offered to pay the stamp duty...............

Desperate to say the least and getting worse

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Dubsie, you betcha house prices are falling........read this forum and weep, real people with real mega problems as they struggle to offload their properties http://britishexpats.com/forum/showthread....ght=house+sales

Some poor folk there with houses on the market for 10 months, very few offers, reduced prices, broken chains etc etc. This is the real world NOW! I shudder to think what it will be like when the market slide really gets underway.

A good post. As an FTB I have seen prices fall, but not significantly. However the experience for sellers has deteriorated rapidly over the 18 months. In early 2004 (South East) houses were selling quickly - therefore a market price could easily be established. Arguably. many sellers were pricing too low - if a major asset has an accepted offer in under a month there would appear to be scope for a higher price.

Now we see houses on the market priced below 2004 which levels remain on the market for months. The sellers may be unwilling or unable take a reduction - therefore as a FTB I see little improvement in the market. For the vendors however this is a major change. The real market value for a vendor has decreased notably since mid 2004 if we define the market value as a price which would gain a proceedable offer within a reasonable (say three month) timescale.

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I run a business and I'm reading the forums looking whether other companies are feeling the pinch as well. Our turnover has been halved and the signs are that it is getting a lot worse. I've never known it so bad.

if you don't mind me asking what line of business are you in???

turnover halving is pretty serious and needs some serios remedial action........what have you got planned to cut costs or gain market share?....don't tell me you haven't got some ideas!

...and it aint just about cutting jbs,how can you get your staff do do more with less?.better,more reliable and cheaper suppliers???...that kinda thing.

....shipping....do you send by TNT or could you send by motorcycle courier if cheaper/faster?

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...and it aint just about cutting jbs,how can you get your staff do do more with less?

If turnover is down 50% getting the staff to do more isn't really the issue.....

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The funniest thing about this is these people are desperate to buy in Australia - aren't house prices already falling there?

B)

There's mounting evidence of a slowdown in all major cities in Australia except Perth (the economy there being heavily influenced by the minerals boom).

Just looking locally, there's an awful lot of properties for sale that are literally empty. The owners must be living somewhere, so quite clearly we have more houses than we need. A bit like a game of musical chairs in reverse - there just isn't a family to fill every house. And in due course many of these empty properties become forced sales since not many could indefinately pay two mortgages, insurance etc. Sooner or later they simply have to sell which means we have a perfect setup for a proper crash.

Actual prices haven't fallen a lot on average but there is an increasing number of "price reduced" listings (generally 10 to 15%) and the propery paper is getting ridiculous in terms of how many pages it is. A truly huge number of listings which just aren't moving.

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If I had any doubt that we are in the throws of an HPC they are gone are after reading the expats forum. By the sounds of it no one is selling unless they are discounting heavily. They have held out and held out but as desperation creeps in they will accept even sillier offers. Add to these the rising repossessions and other people who have to sell because they are being relocated/divorced and probate sales where the people in line for the inheritance will accept lower offers and we'll start to see some dramatic falls by January.

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if you don't mind me asking what line of business are you in???

turnover halving is pretty serious and needs some serios remedial action........what have you got planned to cut costs or gain market share?....don't tell me you haven't got some ideas!

...and it aint just about cutting jbs,how can you get your staff do do more with less?.better,more reliable and cheaper suppliers???...that kinda thing.

....shipping....do you send by TNT or could you send by motorcycle courier if cheaper/faster?

We're into electronics but believe me sales have been slowly falling since Jan 05. October being the worst month ever. Our margins are slipping also and some of our competitors have gone bust so it not just us.

Bad time, perhaps its time to give it all up and train as a plumber.

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Bad time, perhaps its time to give it all up and train as a plumber.

That would be even worse. If you've got any decent quali's go into teaching.

I saw our first EA close on our high street this week. It was an outpost of a regional chain, but it's still gone. There one minute, gone the next.

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  • 301 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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