Damik Posted January 28, 2015 Author Share Posted January 28, 2015 EA's can put whatever they like there. It's entirely unreliable as a data point. It fits the PB data. I assume this is an automated RM functionality and not an EA user option. It is also not avaiable in the property detail ... Quote Link to comment Share on other sites More sharing options...
SE10 Posted January 28, 2015 Share Posted January 28, 2015 It fits the PB data. I assume this is an automated RM functionality and not an EA user option. It is also not avaiable in the property detail ... I posted an example in this thread at the weekend where an agent had marked a listing as reduced but PB said the price had never changed. Quote Link to comment Share on other sites More sharing options...
Damik Posted January 28, 2015 Author Share Posted January 28, 2015 I posted an example in this thread at the weekend where an agent had marked a listing as reduced but PB said the price had never changed. Interesting! I will watch for it and report back in a few days ... I hope the PB will be updated in a week or so ... Quote Link to comment Share on other sites More sharing options...
Frick Posted January 28, 2015 Share Posted January 28, 2015 I posted an example in this thread at the weekend where an agent had marked a listing as reduced but PB said the price had never changed. They sometimes do double change. Increase the price. Save. Reduce the price. Save. Shows as 'Reduced today'. I've even seen a PB price increase get through as reduced. All you need to do is increase by more and reduce to the level of intended increase. Quote Link to comment Share on other sites More sharing options...
New_Paradigm Posted January 28, 2015 Share Posted January 28, 2015 So if I buy my £400k 1-bed in Kennington or Clapham today... how much do you think it will be worth under the NEW PARADIGM? I was thinking to sell it for £800-£1M in 2020. Will 1 million pounds be achievable in 5 years from now? Worst case scenario it is just a +£6,000 profit per month for 5 years. I think it is not bad. And I save the rent What do you think guys? Quote Link to comment Share on other sites More sharing options...
New_Paradigm Posted January 28, 2015 Share Posted January 28, 2015 http://www.rightmove.co.uk/property-for-sale/property-48137752.html i viewed this one about a year ago when it was up for £295,000 it didn't sell while the market was going up so i don't understand why think it will sell for £145k more now that the market is cooling It looks like a bargain to me. You got a convenience store next door... that would add about +£200,000 in value to the house. Quote Link to comment Share on other sites More sharing options...
Venger Posted January 28, 2015 Share Posted January 28, 2015 So if I buy my £400k 1-bed in Kennington or Clapham today... how much do you think it will be worth under the NEW PARADIGM? I was thinking to sell it for £800-£1M in 2020. Will 1 million pounds be achievable in 5 years from now? Worst case scenario it is just a +£6,000 profit per month for 5 years. I think it is not bad. And I save the rent What do you think guys? That is pretty much what many people think, as they apply for as much debt as possible, are not interested in trying to get value (because forever HPI), and their trust in bankers/politicians to protect and give them even more HPI, and because of 'growing population' - and other visions of riches like with you and your Chinese buyers who have arthritis because of all the weight of gold they lug around in their pockets. Spreadsheets to calculate their further HPI gains, just after buying. Always laughing at the dead money renters. Then the HPI sluts, all too eager to blame the banks when values slide / income fall / some other change on their financial circumstances. Serpico and others on the forum, who went bankrupt and had their houses repossessed in other HPCs, have never been able to admit they were HPI boom-world greedy sluts; blaming nasty bankers and Thatcher. Apparently the banks made them borrow, despite their own HPI spreadsheets on their homes going up x5 in value, and eagerness to spend like gods and take on as much debt as possible in the boom. Ex-friend traded up to a near £500K house recently. His plan last year was to stay in his £300K home and buy a BTL, but obviously chose not to. In 2011 he was saying how his £300K house would be worth a million pounds in 30 years when he retires. He's not on HPC each night worrying about state of the economy, but buying new clothes, eating out, going on loads of foreign holidays. Yet at HPC, can't have a crash. Think of all the recent buyers tricked into buying. Victims of property-porn TV, victims of the banks tricking them into borrowing, victims of growing up in Labour's boom and 'knowing no better'. Victims of choosing to take out biggest mortgage the banks will offer whilst accepting the developer's wanting to keep 25% which you have to pay back in 12 years. Hello; people still have individual free choice and still want to buy. Are they victims too? Prices are way up in my area from 2007 asking prices as you pity all owners and would be buyers who are all individuals with free choice and who all make up the market by their own decisions. Always win for them, always lose for guilt riddled HPCers always finding excuses for everyone. Whilst non-owning HPCers pay their rents and get ever older. Quote Link to comment Share on other sites More sharing options...
New_Paradigm Posted January 28, 2015 Share Posted January 28, 2015 That is pretty much what many people think, as they apply for as much debt as possible, are not interested in trying to get value (because forever HPI), and their trust in bankers/politicians to protect and give them even more HPI, and because of 'growing population' - and other visions of riches like with you and your Chinese buyers who have arthritis because of all the weight of gold they lug around in their pockets. Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. Quote Link to comment Share on other sites More sharing options...
Damik Posted January 28, 2015 Author Share Posted January 28, 2015 So if I buy my £400k 1-bed in Kennington or Clapham today... how much do you think it will be worth under the NEW PARADIGM? I was thinking to sell it for £800-£1M in 2020. Will 1 million pounds be achievable in 5 years from now? Worst case scenario it is just a +£6,000 profit per month for 5 years. I think it is not bad. And I save the rent What do you think guys? Buy at least 2. You can not go wrong with brick and mortar ... Quote Link to comment Share on other sites More sharing options...
mmt Posted January 28, 2015 Share Posted January 28, 2015 Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. Better get started before that eurozone QE kicks off or it might put that £400K 1-bed out of reach of your euro savings. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 28, 2015 Share Posted January 28, 2015 Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 28, 2015 Share Posted January 28, 2015 (edited) Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. And again, Thanks for that, i've not laughed so hard in ages. I do love a desperate estate agent. Edited January 28, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
New_Paradigm Posted January 28, 2015 Share Posted January 28, 2015 Buy at least 2. You can not go wrong with brick and mortar ... I would buy 2, but I am not a greedy person. I just want to buy one flat not only as an speculative investment but also as a place to live. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 28, 2015 Share Posted January 28, 2015 I would buy 2, but I am not a greedy person. I just want to buy one flat not only as an speculative investment but also as a place to live. Stop it really, i've just s**t myself laughing. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted January 28, 2015 Share Posted January 28, 2015 Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. Why advise us then? We'll just be your competition. Go and bask in your superior knowledge that this bubble is different. Why give a rat's ass what we think? Then you can pick up you bargains at an even 'cheaper' price, safe in the knowlege that your appreciation is locked in, no questions asked. Quote Link to comment Share on other sites More sharing options...
pras Posted January 28, 2015 Share Posted January 28, 2015 He is one of the MSE lot possibly. Could you imagine a 1 bed flat in Kennington costing £600k in a few years time. My goodness! I hope there is a crash soon and you get wiped out. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted January 28, 2015 Share Posted January 28, 2015 Forever HPI is a natural law, like gravity. Get your facts right. I must have missed that in physics A level. Did you go to the sort of school that tought 'Intelligent Design' as an alternative to evolution by natural selection? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 28, 2015 Share Posted January 28, 2015 (edited) Why advise us then? We'll just be your competition. Go and bask in your superior knowledge that this bubble is different. Why give a rat's ass what we think? That's the best bit, that's why I am laughing....they care, because they now know we are right, they are probably up to their necks in it and now even more desperate than they were in 2007. Or, if they are lucky, they work in a poxy estate agency and have just been laid off. He's here to tell us we're wrong, but he knows we are right. The only point worth noting is that, he's right about if it all goes belly up, then we loose everything and he will be sat in his 400K flat in kennington all safe and sound.....till his army call up papers arrive. Edited January 28, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted January 28, 2015 Share Posted January 28, 2015 .....till his army call up papers arrive. He's apparently French and basing his visions of a future London full of well-housed foreigners and cage-dwelling Britons on the film adaptation of The Children of Men in which well-housed Britons declare all foreigners to be illegal immigrants and force them to live in cages prior to deportation/death. If it's not an avant-garde satire it should be: People became tired of invading hordes, from countries with just as many natural advantages as this, who allowed themselves to be misgoverned for decades through their own cowardice, indolence and stupidity and who expected to take over and exploit the benefits which had been won over centuries by intelligence, industry and courage, while incidentally perverting and destroying the civilization of which they were so anxious to become part. - P. D. James, The Children of Men Quote Link to comment Share on other sites More sharing options...
Frick Posted January 28, 2015 Share Posted January 28, 2015 The daily HPI in Wapping? * 1.25M reduced yesterday, from 1.35 - http://www.rightmove.co.uk/property-for-sale/property-30864417.html * 1.6M listed today - http://www.rightmove.co.uk/property-for-sale/property-50225189.html Quote Link to comment Share on other sites More sharing options...
SE10 Posted January 28, 2015 Share Posted January 28, 2015 Interesting! I will watch for it and report back in a few days ... I hope the PB will be updated in a week or so ... This is the one in question (easier to find and repost now I'm on a proper 'puter). 24/01/2015 Agent changed: Added Reduced on 08/11/2014 20/01/2015 by 1st Avenue Agents Location changed: London. Reduced on 20/01/2015 by Agent changed: Reduced on 20/01/2015 by 1st Avenue 21/12/2014 Status changed: Premium Listing, null, null 15/11/2014 Initial entry found. Quote Link to comment Share on other sites More sharing options...
SE10 Posted January 28, 2015 Share Posted January 28, 2015 So if I buy my £400k 1-bed in Kennington or Clapham today... how much do you think it will be worth under the NEW PARADIGM? I was thinking to sell it for £800-£1M in 2020. Will 1 million pounds be achievable in 5 years from now? Worst case scenario it is just a +£6,000 profit per month for 5 years. I think it is not bad. And I save the rent What do you think guys? I think Poe Quote Link to comment Share on other sites More sharing options...
SE10 Posted January 28, 2015 Share Posted January 28, 2015 They sometimes do double change. Increase the price. Save. Reduce the price. Save. Shows as 'Reduced today'. I've even seen a PB price increase get through as reduced. All you need to do is increase by more and reduce to the level of intended increase. If no PB user encountered the 'interim' price (and if it's only there for a few seconds that's very likely) then it could well be something Rightmove auto generates that can be gamed. It still helps narrow down the focus for checking for actual cuts though, assuming it is an auto thing and an EA can't cut the price and forget to 'set' this text. Quote Link to comment Share on other sites More sharing options...
kilroy Posted January 28, 2015 Share Posted January 28, 2015 Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you. What will you do with your profit when you sell? Most people will upsize to 2 bed or maybe a house when kids come along. In this circumstance, I suggest that your £240k "profit" becomes part of your vendor's even bigger "profit", who in turn passes it up the chain. Unless of course, you intend to downsize to a bedsit..... Quote Link to comment Share on other sites More sharing options...
SE10 Posted January 28, 2015 Share Posted January 28, 2015 I must have missed that in physics A level. Did you go to the sort of school that tought 'Intelligent Design' as an alternative to evolution by natural selection? Or maybe just a course that skipped concepts like entropy... Media Studies maybe? Quote Link to comment Share on other sites More sharing options...
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