SE10 Posted April 27, 2016 Share Posted April 27, 2016 More lookin to hold off putting vacant properties on rent hoping rent prices pick up. BTLers think doing this will improve their financial situation? Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted April 27, 2016 Share Posted April 27, 2016 Tapori, your posts are giving me so much joy. Very nice update. Yep, seconded. And that stuff you saw in the Standard is also on their website in a longer, nicely bearish piece. Sample quote: Buying agent Karelia Scott-Daniels, managing director of Manse & Garret Property Search, says the number of investors on her client list had plummeted “by 90 per cent”. “In March the market was exceedingly busy with lots of buyers and several sealed bids situations,” she says. “It has now died a death. Vendors aren’t getting any interest so are much more likely to listen to offers than they were a couple of months ago.” Quote Link to comment Share on other sites More sharing options...
Byron Posted April 28, 2016 Share Posted April 28, 2016 Only 28 days in and buyers are much more likely to listen to offers! Those utter fools who rushed to buy before the stamp duty deadline must be feeling sore. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted April 28, 2016 Share Posted April 28, 2016 BTLers think doing this will improve their financial situation? of course they do...dont think that these sheep have any insight, they do not. The trouble for them is they think that they do. Dunning-Kruger effect at work at work here, incompetence breeds confidence. https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect The Dunning–Kruger effect is a cognitive bias in which relatively unskilled persons suffer illusory superiority, mistakenly assessing their ability to be much higher than it really is. Dunning and Kruger attributed this bias to a metacognitive inability of the unskilled to recognize their own ineptitude and evaluate their own ability accurately. Quote Link to comment Share on other sites More sharing options...
suntory Posted April 28, 2016 Share Posted April 28, 2016 Only 28 days in and buyers are much more likely to listen to offers! Those utter fools who rushed to buy before the stamp duty deadline must be feeling sore. What? Are you saying that BTLers could have gotten discounts of .... let's say .... more than 3%? Lemming meets cliff. Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 28, 2016 Share Posted April 28, 2016 Only 28 days in and buyers are much more likely to listen to offers! Those utter fools who rushed to buy before the stamp duty deadline must be feeling sore. They're too stupid for that. It'll take about 8 years for the penny to drop. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted April 28, 2016 Share Posted April 28, 2016 Full Land Reg Report March: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/519058/March_HPI_2016.pdf Quote Link to comment Share on other sites More sharing options...
rantnrave Posted April 28, 2016 Share Posted April 28, 2016 Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted April 28, 2016 Share Posted April 28, 2016 What? Are you saying that BTLers could have gotten discounts of .... let's say .... more than 3%? Lemming meets cliff. Lemmings that don't understand leverage. As others have pointed out previously 3% off of the deposit for a 75% LTV purchase means 12% off of the total price payable. Quote Link to comment Share on other sites More sharing options...
Madcrash Posted April 28, 2016 Share Posted April 28, 2016 http://www.telegraph.co.uk/property/commercial/house-prices-fall-almost-everywhere-as-property-market-takes-on/ Telegraph also getting on the story. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 28, 2016 Share Posted April 28, 2016 (edited) http://www.telegraph.co.uk/property/commercial/house-prices-fall-almost-everywhere-as-property-market-takes-on/ Telegraph also getting on the story. For MSM VI rag to go with that you know it's already a goner. #CaveatEmptor My wife told me today we had missed the boat. Edited April 28, 2016 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
suntory Posted April 28, 2016 Share Posted April 28, 2016 http://www.telegraph.co.uk/property/commercial/house-prices-fall-almost-everywhere-as-property-market-takes-on/ Telegraph also getting on the story. Jesus ******. That Telegraph story is ******ing amazing. It's on. It ******ing is on!!!!!! Quote Link to comment Share on other sites More sharing options...
ccc Posted April 28, 2016 Share Posted April 28, 2016 In terms of 'missing the boat' - its nonsense really. There will always be another one - just a question of when and if you can be bothered to wait for it. In hindsight - and that's a nice thing to have - it appears that perhaps about 2012-2013 may have been the last 'boat'. Prices then had dropped from peak in 2008 - but not by anywhere as much as they should have without all the props put in place by the Government. But still, in hindsight - it was a 'boat' of sorts. Previous to that ? Maybe 2004-2005. This was well into the bubble - but also a point at which - again in hindsight - if you had bought then - today you wouldn't be feeling too bad about. Fred Harrison's book on the housing market and bubbles - IIRC - states there is a pretty standard 7 year cycle in the UK when it comes to this. So really - if you look at it now without the advantage of hindsight - 2019-2010 could well be the next 'boat' to be jumped on if you have just had enough of waiting. Only time will tell - and something big is going to have to happen before then to smash through all these stupid Government props - but there are a hell of a lot of possibilities out there to choose from. Chances are one will come through. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted April 28, 2016 Share Posted April 28, 2016 something big is going to have to happen before then to smash through all these stupid Government props - but there are a hell of a lot of possibilities out there to choose from. Chances are one will come through. I find it hard to believe that there aren't some tricks in the CB bag still to be revealed. Whether they'll be effective or not is another thing, but given the length of time they've acknowledged they're out of tricks, it seems likely they've been working on new ones. There's also the calls from the IMF and others for more policy responses, so that could mean more props too. Hopefully this'll result in the government undermining its credibility by having its policies rejected decisively by the market. Momentum certainly seems to be building. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted April 28, 2016 Share Posted April 28, 2016 I find it hard to believe that there aren't some tricks in the CB bag still to be revealed. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted April 28, 2016 Share Posted April 28, 2016 If / when prices are below Jan 2015, say, then we would appear to have a crash in the making. Until then it's just words Quote Link to comment Share on other sites More sharing options...
Guest Posted April 28, 2016 Share Posted April 28, 2016 Jesus ******. That Telegraph story is ******ing amazing. It's on. It ******ing is on!!!!!! I've just passed that on to the 12yr old wideboy EA that emailed me some overpriced sh#t this afternoon. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 28, 2016 Share Posted April 28, 2016 If / when prices are below Jan 2015, say, then we would appear to have a crash in the making. Until then it's just words Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted April 28, 2016 Share Posted April 28, 2016 Telegraph thingy written by Anna White, who some on here seem to fancy for the one or other reason. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted April 29, 2016 Share Posted April 29, 2016 From LonRes, Great Expectations: the gap between asking and achieved prices (h/t gruffydd): Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted April 29, 2016 Share Posted April 29, 2016 It seems it is crashing - and that's from a property person - an insider: http://henrypryor.com/blog/2016/04/housing-market-on-the-edge/ Quote Link to comment Share on other sites More sharing options...
themal Posted April 30, 2016 Share Posted April 30, 2016 1616 properties listed in Hammersmith and Fulham and 542 have had their price reduced. That doesn't include any listings that have been taken down and re-listed at a lower price. So that's about a 1/4 that have visibly been reduced. Hahahahahaha BUST Quote Link to comment Share on other sites More sharing options...
themal Posted April 30, 2016 Share Posted April 30, 2016 205 Holland Park Avenue is a new development of 41 apartments with contemporary interiors and stylish designs. Listed in mid-April and then reduced 2 weeks later by 5%. Simply not selling - luxury apartment builders best start preparing to file for administration. I won't even bother to post the new builds in SW8 that have been reduced by 35% lol. http://www.zoopla.co.uk/for-sale/details/40147491?search_identifier=86540572152543d0f23e44ba87e413b5#Dox7bPOHml1UeRBE.97 Quote Link to comment Share on other sites More sharing options...
themal Posted April 30, 2016 Share Posted April 30, 2016 I am lost for words, 50% reduction on this new build LOLOLOL http://www.zoopla.co.uk/new-homes/details/40197483?search_identifier=f6e77e557e8944864718430cd1cecc94#K2efjsS2O2m0Hqj4.97 The bust is here, will just take a few more months to become apparent. Anyone that buys now is a joker Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted April 30, 2016 Share Posted April 30, 2016 50% reduction in 8 days? I know prices are dropping in London but that does seem a bit odd. Not that I'm complaining. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.