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undecided

Market Definitely Picked Up Where I Live

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Hi All,

I have been reading on this forum for quite a while because I was worried about what I was supposed to do with my flat. We wanted a house and we could buy or sell. After a lot of thinking, we visited about 15 houses and loved one whith a lot of work to do but a big potential.

So we put ours for sale just slightly below what the estate agent recommended (they said 180k , we put it for 175k). During the first two weeks, we had 2 viewings, not good. That was end of October. in the last 3 weeks, we had 10 viewings and 2 offers last friday, one fomr a FTB, one from someone buying for his daughter. They offered at 170k, less than 3% below asking which we were happy to accept.

I then thought I was lucky and I checked the status of the other 14 properties we visited but did not offer on and all but 1 were either sold or under offer. I then phoned my estate agent saying they seem to have been doing well recently and they told me they sold more houses in the last 3 weeks than in the last 3 months before that.

Whether it's gonna crash or not is still a mistery to me but things have definitely picked up where I live.

I live in South west London just at the border with Surrey. It may be very different anywhere else though.

New builds, however, don't seem to be selling well but after visiting one, it's no wonder, they're small and expensive, have electric storage heater (there's nothing worse than that) and a £1000 a year maintenance cost.

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Hi All,

I have been reading on this forum for quite a while because I was worried about what I was supposed to do with my flat. We wanted a house and we could buy or sell. After a lot of thinking, we visited about 15 houses and loved one whith a lot of work to do but a big potential.

So we put ours for sale just slightly below what the estate agent recommended (they said 180k , we put it for 175k). During the first two weeks, we had 2 viewings, not good. That was end of October. in the last 3 weeks, we had 10 viewings and 2 offers last friday, one fomr a FTB, one from someone buying for his daughter. They offered at 170k, less than 3% below asking which we were happy to accept.

I then thought I was lucky and I checked the status of the other 14 properties we visited but did not offer on and all but 1 were either sold or under offer. I then phoned my estate agent saying they seem to have been doing well recently and they told me they sold more houses in the last 3 weeks than in the last 3 months before that.

Whether it's gonna crash or not is still a mistery to me but things have definitely picked up where I live.

I live in South west London just at the border with Surrey. It may be very different anywhere else though.

New builds, however, don't seem to be selling well but after visiting one, it's no wonder, they're small and expensive, have electric storage heater (there's nothing worse than that) and a £1000 a year maintenance cost.

What town are you in?

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Hi All,

I have been reading on this forum for quite a while because I was worried about what I was supposed to do with my flat. We wanted a house and we could buy or sell. After a lot of thinking, we visited about 15 houses and loved one whith a lot of work to do but a big potential.

So we put ours for sale just slightly below what the estate agent recommended (they said 180k , we put it for 175k). During the first two weeks, we had 2 viewings, not good. That was end of October. in the last 3 weeks, we had 10 viewings and 2 offers last friday, one fomr a FTB, one from someone buying for his daughter. They offered at 170k, less than 3% below asking which we were happy to accept.

I then thought I was lucky and I checked the status of the other 14 properties we visited but did not offer on and all but 1 were either sold or under offer. I then phoned my estate agent saying they seem to have been doing well recently and they told me they sold more houses in the last 3 weeks than in the last 3 months before that.

Whether it's gonna crash or not is still a mistery to me but things have definitely picked up where I live.

I live in South west London just at the border with Surrey. It may be very different anywhere else though.

New builds, however, don't seem to be selling well but after visiting one, it's no wonder, they're small and expensive, have electric storage heater (there's nothing worse than that) and a £1000 a year maintenance cost.

the troll force is strong in this one, master

lightsabre.gif

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Edited by sign_of_the_times

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A while back on HPC I reported that E/A contacts told me the London market in summer was booming (20% more sales than this time last year).

Dr Bubb, said this was just 'market noise' and down to some E/As mopping - up business from the hugely larger number going under / fairing badly.

I went on to say many B2L people were adding to thier portfolios, some with the aim of flipping for a profit in 2006.

Looks like my fabled 'anecdotal evidence', much dispised by HPC grapgh loving bears, has once again proven usefull.

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Seems to me the the general public have decided that prices aren't going to fall a lot unless interest rates rise a lot.

I mentioned a worst case scenario a few weeks ago. It bears repeating:

1) Sufficient activity in housing market Oct / November for VIs to report a healthy market.

2) In December and January VIs trumpet the expected rate decrease in February.

3) Rates decreased.

4) SPRING BOUNCE

I'm now reviewing this idea and I think we'll have a spring bounce next year in London, SE and south Midlands even if rates rise (so long as there aren't predictions of multiple rises).

Prices have been stagnant or falling in the south for a while now I think many people think prices are now "reasonable".

If I was an STR in London - I'd buy.

If I was an STR in SE - I'd think strongly about buying

If I was an STR in Oxford - I'd think about buying

If I was north of Birmingham - I'd not buy.

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I have been posting regularly (last 2 weeks) about SW London - things most definitely picking up. Especially the properties over 2m - which is not relevant to FTB's I know - but it is relevant about city money & bonuses.

The point I have tried to make is this:

if all the FTB's wait & wait to pick the exact bottom of the current slowdown, what is going to happen when everyone decides it is the bottom?

Well- anyone who wants to buy will pitch in & the prices will move up - or they will all be chasing around after properties & not able to buy what they want when they want.

I personally would prefer to buy when it is a buyers market - which it is at the moment - but (round here) apparently not for much longer.

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What town are you in?

Honestly, I have no interest one way or the other for the property market to go. If it falls, I can buy cheaper my next home(percentage descrease as long as I upgrade this is true), if it does not change, It will cost me a bit more but I will not have to worry about negative equity or anything like that.

I live in West Molesey, this is near Hampton Court, Kingston Upon Thames and Surbiton. It is an area that's been growing in the last few years as the ones mentioned above became unafordable for most people.

The estate agent had no interest in telling me rubbish as I know her quite well. She'd told me how the FTB market was slow or inexistant when I told her I wanted to sell.

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Seems to me the the general public have decided that prices aren't going to fall a lot unless interest rates rise a lot.

I mentioned a worst case scenario a few weeks ago. It bears repeating:

1) Sufficient activity in housing market Oct / November for VIs to report a healthy market.

2) In December and January VIs trumpet the expected rate decrease in February.

3) Rates decreased.

4) SPRING BOUNCE

I'm now reviewing this idea and I think we'll have a spring bounce next year in London, SE and south Midlands even if rates rise (so long as there aren't predictions of multiple rises).

Prices have been stagnant or falling in the south for a while now I think many people think prices are now "reasonable".

If I was an STR in London - I'd buy.

If I was an STR in SE - I'd think strongly about buying

If I was an STR in Oxford - I'd think about buying

If I was north of Birmingham - I'd not buy.

Completely agree with that strategy

Outside SE - think they are slightly behind SE - SE has been static/falling for 2 years & now (IMHO) bottomed out.

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LL has a point, but in most parts of the country most FTBs are still expected to stretch to ridiculous levels of debt to get on the first rung (without any prospect of being able to ever live somewhere other than the first rung pokey flat, since inflation won't erode the debt), so I would expect any 'bounce' to only consist of FTBs on very large salaries (i.e. it will be limited in size, and followed by declining prices) - it may also be geographically contained, since there are more people on high salaries in London than elsewhere.

People talk about affordability (both in terms of house prices and rental prices). Well, disposable income is declining. However, the point about the City bonuses and rich people on high salaries (including rich young FTB people) in London makes it seem as if the market there could be quite different.

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Hi All,

I have been reading on this forum for quite a while because I was worried about what I was supposed to do with my flat. We wanted a house and we could buy or sell. After a lot of thinking, we visited about 15 houses and loved one whith a lot of work to do but a big potential.

Hi All,

I have been lurking on this forum for quite a while because I was worried about what I was supposed to do with my fast crashing property. We wanted a house and we could buy or sell for profit. After a lot of thinking, we logged on and decided to troll out a tall story about the market picking up again ect. missed the boat, this time its different. in the hope to lever opinion back to the impossible.

sorry if i have posted this before under a different name.

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I have been posting regularly (last 2 weeks) about SW London - things most definitely picking up. Especially the properties over 2m - which is not relevant to FTB's I know - but it is relevant about city money & bonuses.

The point I have tried to make is this:

if all the FTB's wait & wait to pick the exact bottom of the current slowdown, what is going to happen when everyone decides it is the bottom?

Well- anyone who wants to buy will pitch in & the prices will move up - or they will all be chasing around after properties & not able to buy what they want when they want.

I personally would prefer to buy when it is a buyers market - which it is at the moment - but (round here) apparently not for much longer.

London Landlady,

When the market really bottoms MOST people (especially the average FTB) will not want to know about buying property.

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So you're saying it only took them 6-7 weeks to sell?

Mmm, that would tie in nicely with what the surveys tells us.

No it took them a lot longer than that as most of them had been on the market for a while when I visited them. What I meant was that they all sold in the last 3-4 weeks, nothing about how long they've been on the market

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Honestly, I have no interest one way or the other for the property market to go. If it falls, I can buy cheaper my next home(percentage descrease as long as I upgrade this is true), if it does not change, It will cost me a bit more but I will not have to worry about negative equity or anything like that.

I live in West Molesey, this is near Hampton Court, Kingston Upon Thames and Surbiton. It is an area that's been growing in the last few years as the ones mentioned above became unafordable for most people.

The estate agent had no interest in telling me rubbish as I know her quite well. She'd told me how the FTB market was slow or inexistant when I told her I wanted to sell.

Makes perfect sense. I have been looking at East / West Molesey at the moment, as I am priced out of the better parts of Kingston / Surbiton. The difference in price between these two areas has gone down dramatically in recent years, and the decent (well-priced) properties certainly seem to be moving pretty quickly.

I would be interested to know what you think of the area? It looks great to me, near to the river and plenty of open space with the only downside being the poor train service from Hampton Court.

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London Landlady,

When the market really bottoms MOST people (especially the average FTB) will not want to know about buying property.

Well, it has never happened before and history does tend to repeat itself.

However, if you use your argument, and if no-one wants to buy - this will mean that they............rent.

Which is good news to anyone renting out properties.

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Hi All,

I have been reading on this forum for quite a while because I was worried about what I was supposed to do with my flat. We wanted a house and we could buy or sell. After a lot of thinking, we visited about 15 houses and loved one whith a lot of work to do but a big potential.

Hold on hold on there just a minute 'undecided' - in your rubbish thread about 'aren't you all upset about not being able to buy' (duh, yeah, that's why we come to HPC to bitch and see if things might change) you bang on about your house.

"We have lived here for 5 years, we made this house look eactly like we wanted. When we come back from work and get in our house, it feels like home, it feels good and I feel proud about what we've achieved in it. If we'd been renting, we would have been in someone else's house, we could not even paint it the way we wanted, let alone changing the kitchen or bathroom and we would have people coming to check our place regularly to make sure we did not make too many holes in the wall or made the ugly carpet dirty."

But here you're talking about your flat. OK, Undecided, the jig is up, you're plainly not undecided at all, you're plainly some foxton's estate agent who fancies themselves a sneakster.

Isn't this the point at which one says AWOOGA?!!

:D

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I then phoned my estate agent saying they seem to have been doing well recently and they told me they sold more houses in the last 3 weeks than in the last 3 months before that.

Hardly convincing.

EAs always tell me business is good. They're like Parrots.

Also don't forget that unfavourable sales data compared to poor/no sales can always be spun into something it isn't...

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And in-between his house has turned into a flat!!!

The housing market is MAGIC!!! :o

Well sorry for the previous post, it was a flat and not a house.

But I am sure that you can explain what difference it makes to the topics in question.

as for what I said here, if you don't believe me, ignore me but don't try and say that I am a liar as I have no interest to lie (but I am sure someone will find a good reason). I am just reporting what I have seen in my little world (5 sq miles). It may well be very different 10 miles down the road but I have not visited any houses there.

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Well, it has never happened before and history does tend to repeat itself.

However, if you use your argument, and if no-one wants to buy - this will mean that they............rent.

Which is good news to anyone renting out properties.

Except if actual disposable income is decreasing, people will not have more money to spend on rent - so more people will share, more people will stay at home, more people will emigrate (and the people emigrating will be the young workers who drive the economy).

I'm seeing a funny thing with rents at the moment - the obvious recent BTLs are trying to inflate rental asking prices, but since you can rent a 3-bed house for the same price as a (new build) 1-bed flat, you see the asking rent gradually decreasing by £50pcm over time.

The rich always get rich off the back of the less well off, but if (because of taxes etc) the poor have less money to spend - there is a limit to how far you can keep squeezing people until it all implodes.

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I find that rather difficult to believe having just looked up West Molesey on RM. Seems to be an awful lot properties for sale there. Panic selling some might say...

Undecided, care to give details of the 14 properties that you visited?

You really must think that people on here are as stupid as yourself...

LL, give Undecided a slap as I know it's sitting right next to you. :lol:

Are you serious? That there is only one Bullish person in the UK or should I say - on this forum? you cannot accuse everyone who is bullish of being the same poster - it is utterly bizzarre.

Yes Undecided lives in SW London/Surrey

Yes I live in SW london

There the similarity ends.

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Well sorry for the previous post, it was a flat and not a house.

But I am sure that you can explain what difference it makes to the topics in question.

Yeah, easy slip of the tongue that one, house and flat, particularly when you've lived in your house for 5 years as you claimed to have done. Hang on, what's this I'm living in, is it a flat or a house, shit, keep forgetting.

:P

The difference it makes to the topics in questions is that you're making it all up because you're a big and not very clever TROLL!!! :P

Edited by North London Rent Girl

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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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