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Is Rest Of Uk Crashing?

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I enjoy watching the London crashing thread, as I live within commuting distance of London, so will feel the ripples lapping against my feet soon I hope!

However, I'm keen to get a whole UK perspective, i.e. mostly excluding London. What are people seeing in terms of prices changing? Houses on the market for ages? Low volumes? Anecdotes are great, where backed up by real observations/conversations because they often give a leading indicator of sentiment before it is reflected in the stats.

As a starter for ten, in the West Sussex coastal area, there are not huge volumes coming on to market (a couple a day at most in my drawn area) but the ones I watch don't seem to sell. A few reductions coming through too.

On a personal note, people seem slightly more receptive to comments of "prices need to come down". Even baby boomers have agreed with me, and mid thirties people who have a mortgage but can't currently afford to move to a larger place.

On the downside, I have had a conversation with an EA about a £250k place that is at least 30% over valued, and the EA was very sniffy when I suggested the vendor needed to be more realistic.

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Friend in Bury St Edmunds has just been outbid for the sixth house in three months.

This is after they put their house on the Kent coast for 10% higher than anything on that street had ever sold for. Cash buyer bought it within 24 hours.

IMO the ripple from London prices is spreading across the UK like a cancer at the moment and keeping all the indices firmly in positive territory.

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Market in Northants went nuts last year, sales volumes shot up, but still very low.

I can only imagine it was people moving out of london, of which I know now of 3 instances of this. Plus, lots of BTLers getting easy money again too.

Post October, market freeze looks to have hit again.

5 houses round me not sold.

1 dropped asking price £50K below what someone paid for the house next door in April 2014 ( the chav iditos as I call them ).

There are no end of £700K+ turbs being listed, stuff that truely should be selling for £400K according to the land registry.

The boomers want their £300K free retirement fund...I dont think many now will get it.

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IMO the ripple from London prices is spreading across the UK like a cancer at the moment and keeping all the indices firmly in positive territory.

Never a truer word spoken.

This is the torys grand plan....gifting London-(sh)ites ( and themselves in the process of course ) our money so they can force up the price of houses, that we can't afford anyway, to insane levels that will leave the buyers with no one to sell to in 5 years time.

That's exactly why, when london collapses the rest of southern england goes with it.

London is the key...London is already collapsing......

Edited by TheCountOfNowhere

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I'm north-east of Bristol here.

  • I'm seeing a sudden significant increase in stock coming onto the market, probably 2-3 times that of the past 4-5 months
  • Asking prices are continuing to rise - some in my email this morning are jaw-dropping in their optimism
  • I have no idea what is actually selling and how much for - I'm just not interested enough in the current climate to do that kind of research
  • However, probably 25-30% of houses showing up in my email search are listed as reduced
  • A very noticeable percentage of those coming on to the market are BTL / no onward chain - 3/5 in one email yesterday

One thing that also stuck in my mind. I had a call from an EA office a couple of weeks ago, one who I've been registered with for ages, but who have not bothered contacting me in the past year. It was an inexperienced girl making the call, and I said to her that I was expecting market conditions to change in the next few months, and that I would appreciate her view. She replied that she wasn't qualified to talk about that, but she would get a colleague to come and talk to me.

Next thing, you can practically smell the hair gel down the telephone, and I've got Captain C0ck telling me that the market is "JUST GREAT!", and that it's only going to accelerate away again in 2015. Apparently that's all because of low interest rates.

When I replied that my view was the opposite, and that I wouldn't waste any more if his time, he actually sounded crestfallen. I wonder if he mistook me for a wannabe seller when he came to the telephone. There was certainly a feeling of "How did that go so wrong?" in his voice. And the fact that they're having to trawl their little black book for potential buyers is telling.

So who knows? I have a definite feeling that things are on the turn, but i've felt this way several times before and been proven wrong on half of them.

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I'm north-east of Bristol here.

  • I'm seeing a sudden significant increase in stock coming onto the market, probably 2-3 times that of the past 4-5 months
  • Asking prices are continuing to rise - some in my email this morning are jaw-dropping in their optimism
  • I have no idea what is actually selling and how much for - I'm just not interested enough in the current climate to do that kind of research
  • However, probably 25-30% of houses showing up in my email search are listed as reduced
  • A very noticeable percentage of those coming on to the market are BTL / no onward chain - 3/5 in one email yesterday

One thing that also stuck in my mind. I had a call from an EA office a couple of weeks ago, one who I've been registered with for ages, but who have not bothered contacting me in the past year. It was an inexperienced girl making the call, and I said to her that I was expecting market conditions to change in the next few months, and that I would appreciate her view. She replied that she wasn't qualified to talk about that, but she would get a colleague to come and talk to me.

Next thing, you can practically smell the hair gel down the telephone, and I've got Captain C0ck telling me that the market is "JUST GREAT!", and that it's only going to accelerate away again in 2015. Apparently that's all because of low interest rates.

When I replied that my view was the opposite, and that I wouldn't waste any more if his time, he actually sounded crestfallen. I wonder if he mistook me for a wannabe seller when he came to the telephone. There was certainly a feeling of "How did that go so wrong?" in his voice. And the fact that they're having to trawl their little black book for potential buyers is telling.

So who knows? I have a definite feeling that things are on the turn, but i've felt this way several times before and been proven wrong on half of them.

It's got that feeling of incredulity that 2007 had.

Then the banks collapsed....this time...

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Rents in E Herts - if useful as part of this enquiry - no higher than 7 years ago for family houses...

Well, that's the thing.....house prices shooting up.....rents and wages static.

Makes you wonder where house prices will head next :lol::lol::lol:

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Rents in E Herts - if useful as part of this enquiry - no higher than 7 years ago for family houses...

Rents in the Midlands are where they were ten years ago.Whatever the indices say.Student rentals may be higher.

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What I've noticed in the Guildford area is more properties up for sale that previously wouldn't have been on the 'open' market but would have been sold to developers, investors etc. before anyone else knew they were available.

Maybe the banks are getting twitchy about lending for this type of property as the margins have been very tight and only really profitable in a rising market.

The properties I've seen recently are priced to sell and appear to be a bargain if you've got the cash.

Other than that the general market has been rising here since 2007 and are now at super insane asking prices. Quite a lot of ex-rental and vacant possession available but it's a depressed market in terms of volumes.

Edited by Solitaire

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Se Wales (Glamorgan) There`s a small increase in volume (but still @all time lows) this year so far ,no where near what there was this time last year but loads of reductions across the board , prices are still kite flying though on all but the bottom end of the market where there seems to be a few motivated BTL`ers (no where near what there was last year) heading for the door that can manage to offload at a price that will result in a sale

Top end of the market seems to be plodding along ,with the equity rich swapping equity

Middle of the market is in no mans land

All in all there`s a que starting to build up in front of the BTL exit, but i think the new MMR rules have killed the bottom end of the market ,local wages will not buy at the bottom end as price`s stand now,also think there`s alot stuck in the middle of the market which have no chance whatsoever of moving up due to MMR or for that matter moving in any direction other than down unless they can port the current mortgage

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Friend in Bury St Edmunds has just been outbid for the sixth house in three months.

This is after they put their house on the Kent coast for 10% higher than anything on that street had ever sold for. Cash buyer bought it within 24 hours.

IMO the ripple from London prices is spreading across the UK like a cancer at the moment and keeping all the indices firmly in positive territory.

From past experience, East Anglia seems to be one of those areas that is the last to go up and the last to come down. It may have something to do with what is seen as 'reasonable' commuting distance. The local economy West of London is stronger than the East which gives those counties an edge.

Although I live in Berkshire, I come from Southend-on-Sea, Essex and that has given me a useful benchmark. In every boom I have experienced since the 80's, Southend just starts to look less run down prior to the crash. Poor old Southend never seems to quite make it. By the way, Southend has been looking better over the past 18 months so we MUST be due for a downturn if my rule of thumb is still reliable.

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Not the question posed, but I read this as is the rest of the economy crashing.

It surely is, QE has crowded out nearly all other activity other than speculating in assets...houses and Equities.

The real economy is on its knees, we are in a deflationary spiral barring a few niches services like costabucks.

See what you have done you utter w@@kers with your QE.

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Not the question posed, but I read this as is the rest of the economy crashing.

It surely is, QE has crowded out nearly all other activity other than speculating in assets...houses and Equities.

The real economy is on its knees, we are in a deflationary spiral barring a few niches services like costabucks.

See what you have done you utter w@@kers with your QE.

Destroyed a couple of generations.

Greedy ****s

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Greenwich prices are back a the "peak" (I think) - stuck at "ludicrous" but not racing away ever higher now.

Rents static over the last two years, but still high.

Asking £500k for a two bedroom flat - to rent this would be £1600pcm.

Asking £1.1m for a three bedroom house - to rent this would be £2000pcm.

I am conscious these numbers look mad - London is a whole new level of insanity.

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The real economy is on its knees, we are in a deflationary spiral barring a few niches services like costabucks.

Totally agree there. I saw a report from Cleggies constituency (C4 I think). The reporter asked a local business women (Fish & Chips I think) how well the recovery was going for her. He looked incredulous when she said that as far as she was concerned the recession started in 2007 and, if anything, was getting worse.

The trouble is, since Gidiot choked off the real recovery (even though it was very weak) he has built a phony recovery with bogus GDP figures (Sex & Drugs), bogus umemployment figures (Self employed on £2500kpa), bogus wage rises (Bankers wages and bonuses account for 90%), bogus student loans (They aint gonna pay it back), bogus immigration targets and Marxist/Stalinist policies like help to buy.

Even their trendy flagships like 'Silicon Roundabout' is just a ponzi merrygoround with useless hipster types and their funky offices. (Next time one of these apps gets a mention check it out and see how actually crap and unprofessional it is.)

Meanwhile the drumbeat spin of 'skills shortage' sees averyone over 50 and with a mortgage overlooked in the skilled job market in favour of East Europians and Asians happy to accept a pittance salary, 14 hour days and free donuts/pin ball.

If Greece defaults and returns to a devalued Drachma they will be in a much better place than UK PLC.

Edited by Bill D'arblay

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I would say stagnant here in West Dorset. Good stuff comes and goes at premium prices, but there's not a lot of it. An awful lot of failed sales and the occasional sign of distress, like this example, asking price £140k, when it should probably be on for £220-230k. Sold in 48 hours. Needs work, but i had a nose when it came on and it's only the usual old house stuff:

http://www.rightmove.co.uk/property-for-sale/property-50215037.html/svr/3121

So, good stuff in the <£250k, 3 bed class can move quite quickly. Anything that's not quality sits on the market for months and then reappears with another agent, often for £10k more. What i do notice is that about 10-15% of the stuff now coming on has no furniture.

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I've been keeping an eye on prices along the M4 ever since I moved from Cardiff in 2006. So I look at Cardiff, Bath, Chippenham and also Herts (nr Watford) where I have a family member living. The only one which has moved substantially in that time is the Herts area where in 2006 you could get a 3 bed 30s semi for approx £250K and last year for £450K now £550K. That's asking prices. I can only assume that people in London are cashing in and moving within commuting distance to a bigger property. So there is a bit of a ripple effect going on. It hasn't reached Chippenham yet although at the bottom end prices are a bit higher and in Bath too just recently in the past 4 months. Supply doesn't seem vastly different and sales are at the same sort of volumes as in previous years with good places going SSC quickly.

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Totally agree there. I saw a report from Cleggies constituency (C4 I think). The reporter asked a local business women (Fish & Chips I think) how well the recovery was going for her. He looked incredulous when she said that as far as she was concerned the recession started in 2007 and, if anything, was getting worse.

The trouble is, since Gidiot choked off the real recovery (even though it was very weak) he has built a phony recovery with bogus GDP figures (Sex & Drugs), bogus umemployment figures (Self employed on £2500kpa), bogus wage rises (Bankers wages and bonuses account for 90%), bogus student loans (They aint gonna pay it back), bogus immigration targets and Marxist/Stalinist policies like help to buy.

Succintly put.For an eloquent and learned doom monger,you have a surprisingly low post count.

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Prices in Cambridge still sky high, but seem to have plateaud, not sure because its just slow season,

or whether they are going to rise again in springtime.... :/

property still seems to be snapped up, very few reductions, and sales seem to complete in under 6weeks...

http://c.zoocdn.com/dynimgs/graph/market_overview/local_type_trends/post_town/271?primary_brand=zoopla

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