Jump to content
House Price Crash Forum
Sign in to follow this  
no accountant

Anecdoctal - Conversation With Ex-estate Agent

Recommended Posts

Just come back from drinks at Canary Wharf, after as politely as possible, using all our arguments to try and convince a guy that property should go down. And what's more it would be better for (almost) everyone if it does.

He defended valiantly with talk of money he's made since '96 and why i'm wasting money renting. But at the end of it he says times are very hard. Especially for developers. And then says he just taken a 50% pay cut and now works for the housing association. :o

It's not his fault, he was an awfully nice chap, and I'm sure will do well, but when you start hearing about the slowdown first-hand, I'm so glad i didn't buy. So glad. :)

Share this post


Link to post
Share on other sites

He didn't say exactly, just hinted that there's very little work, and he had to move on.

I wonder if he workd in the Docklands area? i don't know it myself but i hear that a lot of EA firms have specialist flat depts. round there and it seems that there's an apartment for "young professionals" for every man, woman & child in this country these days. i guess its no surprise that this part of the market is v. slow!

Share this post


Link to post
Share on other sites

I was in Ealing on Saturday last weekend registering for lettings. One estate agent said that it was very flat on the market - too much available and not enough people interested (very much applicable to both lettings and sales)

"so, that means its a really good time for buyers to get into the market as there are some good deals available", I would be told.

this simple message reveals the following:-

1. market is rubbish

2. everyone is trying to sell

3. no one is buying

4. prices may come down

Share this post


Link to post
Share on other sites

I was in Ealing on Saturday last weekend registering for lettings. One estate agent said that it was very flat on the market - too much available and not enough people interested (very much applicable to both lettings and sales)

"so, that means its a really good time for buyers to get into the market as there are some good deals available", I would be told.

this simple message reveals the following:-

1. market is rubbish

2. everyone is trying to sell

3. no one is buying

4. prices may come down

Interesting both these anecdotal's come from London area - when prices rise they generally start in London & filter out, could be the same with falls?

Just one thing to consider - the market is always rubbish this time of year so seasonal variations may play a part - if they're still saying the same in March then that's really interesting...

Share this post


Link to post
Share on other sites

Interesting both these anecdotal's come from London area - when prices rise they generally start in London & filter out, could be the same with falls?

Just one thing to consider - the market is always rubbish this time of year so seasonal variations may play a part - if they're still saying the same in March then that's really interesting...

The Office of the Deputy Prime Minister (ODPM) reported that London prices have fallen in the year to October 2005:

See this 'thread':

http://www.housepricecrash.co.uk/forum/ind...showtopic=20565

I think this is significant news!!

Xil.

Share this post


Link to post
Share on other sites

I accept that things are always slow in December but things have been slow for ages. What happens when a slow boat stops? it drifts in the direction of the flow - downhill. I can't see any of the confidence that I have seen at Christmas' in the past. There is a lot more angst out there than that.

Share this post


Link to post
Share on other sites

I accept that things are always slow in December but things have been slow for ages. What happens when a slow boat stops? it drifts in the direction of the flow - downhill. I can't see any of the confidence that I have seen at Christmas' in the past. There is a lot more angst out there than that.

I wonder what Q1 of 2006 will bring. If there a lot of people who have been holding off moving in 05 due to 'uncertainty' and a lot of houses come to the market early prices should become more reasonable. Where i am there is a lot of overpriced cr*p on the market but a lack of sensibly priced quality houses and when these come on there's still a lot of interest.

Share this post


Link to post
Share on other sites

Just got off the phone to the owner of a local EA here in Dorset...

Background - We moved into a rented flat about 4 months ago knowing that it was on the market for sale. Since we have been here it has fallen through once. I checked the last sale price and it is on the market for less the sell price a year ago. It has had a lot of improvements, problem is it has a lease of less than 80 years and a high maintenance charge. So I don't think it will sale for anything near the asking price.

Back to now the EA I spoke to wants to bring people round at short notice when we are not in. I am not happy about it but he said don't you know the property market is difficult at the moment. I acted surprised and said I thought properties were flying off the shelves. He said where did you hear that? It is very dead and difficult at the moment. He even said he got rid of a young agent recently as she was useless - I think it was more down to the fact that they are not selling anything like the properties they need to.

Conclusions - Lot's of young EA's likely to lose their jobs soon and flats with high maintenance charges and short leases will be very hard to sell.

It's one thing getting a sale agreed but when the solicitor get's involved and comments about the lease are made then that's a bit of a hurdle to overcome!!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 335 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.