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!!!!! (OVER PRICED) HOUSE !!!!!!

My first rightmove bing full house for around 18 months.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE^1783&maxPrice=125000&maxDaysSinceAdded=1&radius=10.0&googleAnalyticsChannel=buying

Another sign of what is happening. There is actually 15 listings in a row of drops ( though some are the same place ).

Read it and weep Hamish ( GIRFUY ).

Edited by TheCountOfNowhere

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http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE^1783&maxPrice=130000&maxDaysSinceAdded=1&radius=10.0&index=20

23 or 28 listings are drops : 82% !!!!

Thats NN1+10 last 24 prices up to 130K.

Edited by TheCountOfNowhere

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the one thing that stands out here are price. no one in there rightmind would pay a penny over 125k because of stamp duty. so the seller has no choice but to reduce it below the theshold.

I think stamp duty for low cost housing for people who actual live there should be remove while people who btl low cost house should pay a high amound

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the one thing that stands out here are price.

You're not wrong there !!!

The significant thing for me is the fact i've not see a full house for 18 months+, they used to occur quite frequently.

6 months ago in this area there were NO drops being listed.

Edited by TheCountOfNowhere

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Lets hope the price effect worcestershire soon as i would like buy and i would be happy to pay that sort of price round here.

Still think stamp duty sucks and i even moan at load tory mp about it and would have much prefered them to do something about that for owner occupier than help to buy.

One thing that does shock me is the amount of my mates who are short of money these days. Not desperate just no nice extras, car last 5 years instead 3 sort of things , Less going out etc

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the one thing that stands out here are price. no one in there rightmind would pay a penny over 125k because of stamp duty. so the seller has no choice but to reduce it below the theshold.

I think stamp duty for low cost housing for people who actual live there should be remove while people who btl low cost house should pay a high amound

I am happy with stamp duty limits right where they are. It puts a limit of £125k on a crap shack and £250k on a detached family home. All you need to do is sit back and wait for the reductions for properties in between.

Stamp duty also removed money that would be used as a deposit and otherwise used as leverage against you by other buyers.

For example:

Property £125k - no stamp duty deposit of £12.5k 90% LTV

Property £125k - 1% stamp duty deposit of 12.5k becomes £11.25k or 91% LTV = Higher rate of interest = reduced affordability = lower prices

We need higher levels of stamp duty, not lower!!!

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Lets hope the price effect worcestershire soon as i would like buy and i would be happy to pay that sort of price round here.

I think if we really are seeing the start of a correction ( and I believe we are ) then when the MSM start reporting it and London really collapses then the effect will spread countrywide quickly.

There is nothing supporting the house prices apart from:

  • low intrerest rates for low LTV, - How many idiots with real money can be left ?
  • MSM hype - Easily turned.
  • government deposits, - How many are left that willing to take these to pay crazy asking prices ?
  • money prininting, - Supposedly stopped.
  • pre-election unwillingness - Not for long.
  • belief in the return to normal - Panic will set in when london pops.
  • Foreign investors - Are there any, were there ever any ?

If london asking/sale prices start to drop, as we are seeing, the indexes will collapse quickly, taking sentiment with them. London made the indexes look good they will equally destroy them when london pops.

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I am happy with stamp duty limits right where they are. It puts a limit of £125k on a crap shack and £250k on a detached family home. All you need to do is sit back and wait for the reductions for properties in between.

Stamp duty also removed money that would be used as a deposit and otherwise used as leverage against you by other buyers.

For example:

Property £125k - no stamp duty deposit of £12.5k 90% LTV

Property £125k - 1% stamp duty deposit of 12.5k becomes £11.25k or 91% LTV = Higher rate of interest = reduced affordability = lower prices

We need higher levels of stamp duty, not lower!!!

Can see where you coming from

but i think stamp duty of 0% for owner occupier while stamp duty of 3% for a btler would give first time buyers a advantage as they both go over to lower value properties.

I also belive that if interest rates where higher and you got some money saving in the bank btl would less interest in buying property

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Lets hope the price effect worcestershire soon as i would like buy and i would be happy to pay that sort of price round here.

Still think stamp duty sucks and i even moan at load tory mp about it and would have much prefered them to do something about that for owner occupier than help to buy.

One thing that does shock me is the amount of my mates who are short of money these days. Not desperate just no nice extras, car last 5 years instead 3 sort of things , Less going out etc

If you're interested in Worcs then go to the regional threads and please resurrect them!

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