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Culpability Brown

December Down 0.8%

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An end in sight for house price horror

Since when have any of the vi's admitted to "house price horror"?

Oh and this is just the beginning. We're a long way from the end.

Couple of years before things are manageable again. Rightmove admit that it's going to stagnate until wage inflation comes into line. Eh, everyone gets a 3-fold salary increase? Good luck!

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"However, the average number of unsold properties on estate agents' books fell to 65 from 69 in the last survey, suggesting that activity was picking up, the report said."

How does that work then? I've watching a post code area on rightmove and the number of properties may have fallen, but they aint been sold.

Possibly they got fed up waiting for last springs bounce!

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"However, the average number of unsold properties on estate agents' books fell to 65 from 69 in the last survey, suggesting that activity was picking up, the report said."

How does that work then? I've watching a post code area on rightmove and the number of properties may have fallen, but they aint been sold.

Possibly they got fed up waiting for last springs bounce!

I bet a lot of people have taken their homes off the market for the Christmas period.

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Couple of years before things are manageable again. Rightmove admit that it's going to stagnate until wage inflation comes into line. Eh, everyone gets a 3-fold salary increase? Good luck!

Don't forget.. if wages increase by more then 2% the BOE have threatened higher interest rates..

they will fight inflation for the good of the people that pay their wages..

Well apart from inflating house prices and Tax..

So.. essentially the expensive bits then..

Oh yes.. and fuel and Bills..

So that is the all the expensive bits..

Don't worry the press have the backs.. and the sheep still think they are doing well..

Even if they have no money left.. they know that their house will get moving again soon and they can make more money.

the only problem with the country is the iq of those that live here..

"However, the average number of unsold properties on estate agents' books fell to 65 from 69 in the last survey, suggesting that activity was picking up, the report said."

How does that work then? I've watching a post code area on rightmove and the number of properties may have fallen, but they aint been sold.

Possibly they got fed up waiting for last springs bounce!

Well. less properties have been sold this year then in the last 30... ;)

Great...

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Well. less properties have been sold this year then in the last 30... ;)

Great...

No, Countrywide group have had the fewest number of transactions for 30 years - not the same thing.

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I bet a lot of people have taken their homes off the market for the Christmas period.

I guess they are the ones who don't have to sell. They will now sit on them and sh*t themselves hoping their circumstances don't change.

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I bet a lot of people have taken their homes off the market for the Christmas period.

That certainly seems to be the case - even for the keen to sell expats...

i dont imagine for a minute we will get any viewings over xmas but ive already decided we are "closed" until new year!!! ****** to it - no way am i going to make kids put their toys away over xmas for yet more timewasters no doubt

http://britishexpats.com/forum/showthread....443#post3065443

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An end in sight for house price horror

Since when have any of the vi's admitted to "house price horror"?

Oh and this is just the beginning. We're a long way from the end.

Great headline - at last an admission that high house prices are NOT A GOOD THING.

0.8% fall in period 13 Nov - 3 Dec (3 weeks) = monthly fall >1%

Crash cruise speed!!!

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I think the first signs of admission are a start but I believe the crash has amd is happening. I believe they are trying to soften the blow.

Lets be honest - why are prices not dropping? I believe its becuase the asking prices are staying high because all the seller think everything is OK, coz the EA's and all the OTHER VI's are saying it is! SO they are very cautious about how much they drop.

MILUDRA

You seem a very rational and level headed EA. So please answer this as honestly as you can - let me know whats your answer to it and try and give me a general opinion.

If you told someone that their property was worth (as a company - not you personally) £200,000 and then 12 weeks later its not had an offer that they are happy with. Lets say £180,000+. HOw would you go about telling them I think you should drop your house by £15,000?

Surely they would rip your head off for giving them false hope?

I believe (opinion only) that the majority of people in this range see ££££££££££'s when they get a valuation adn expect to get 100% or more on asking price. This is the problem. I know there is a lot of EA's that may say - Market at £200K and expect close to asking price. They dont listen to the 'close to asking' they only hear £200K. The EA's should say what the best achieved price is and compare that with market condition and then reason with what they expect as a best and worst scenario. I always say that honesty is respected.

As Miludra has mentioned there is always one EA that will say £230K to get the business. I think that regulation of the industry will stop this happening, as it stands its just GREED GREED GREED.

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That certainly seems to be the case - even for the keen to sell expats...

http://britishexpats.com/forum/showthread....443#post3065443

Whenever I hear a seller calling non-buyers "time-wasters", or saying "I'm not giving it away" I feel like pointing out that the problem is that their asking price has trebled in 8 years - that's why they didn't buy it.

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dont imagine for a minute we will get any viewings over xmas but ive already decided we are "closed" until new year!!! ****** to it - no way am i going to make kids put their toys away over xmas for yet more timewasters no doubt

What an utterly disgusting attitude. How can any of these people call potential buyers timewasters, its sickening that these people call anyone not willing to pay their overinflated prices timewasters. If anything it is they who are the timewasters! Who the hell do these people think they are. :angry:

edit: Oh yeh I must say I like the spin on this article "house prices down which suggest house prices are on the up!"

Edited by sllabres

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I think the first signs of admission are a start but I believe the crash has amd is happening. I believe they are trying to soften the blow.

I recently read through the montly quotes on this site for the last crash, and all the way down the standard 'talk it up' attitude never went away, even when it was clear prices were falling. 'We're at the bottom,' 'I expect prices to rise over the next few months,' everything's rosy, there isn't a problem any more... They just never give up. And the sheeple want to hear the message that their house will soon be built of gold again.

The crash is starting to happen, and negative percentage numbers will help a lot. But for the VIs the pot will always be half full.

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Is it just that I read the article wrong but the headline could mean

a) an end to high house price horror

or B) and end to house price stagnation horror 'cos it'll go up in 06...

I'm a bit thick see.

Edited by 29929BlackTuesday

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0.8% x 20days

= 1.2% x 30days

This is fantastic, Congratulations Doc for forcasting the -1% MOM by year end, it was a close call to say the least.

Why have they cut the month short?

Where does the 10 days go? do they add it onto next month? does it just vanish? or are we now going to get shorter months to keep the MOM under 1% :lol::lol:

12 x 1.2% = 14.4% annual rate and dropping!

Christmas Laugh=

http://www.devilducky.com/media/26599

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Yes - this is it - MOM falls of 1% are here.

As I have said before - people who want or have to move will not hold out for their 2004/5 asking prices once they realise the movement is down (even slightly). They didn't last time round.

Put another way, just as on the upswing of the HPI curve individual people do not put their house prices up by 1% blips/increments, on the way down (or in order to secure a sale) people drop their asking price by round numbers eg from £200,000 to £180-190,000 which is a 5-10% drop. That is what is needed to ensure interest etc.

We are still turning the behemoth around but once spring arrrives and people are marking prices down by 5 and 10 % amounts the effect on the national and regional price stats will be rapid and down - that will then feed itself. Wait for the quarterly stats after the spring 2006 properties sell. A Q1 or Q2 fall of 5% would really accelerate things. Just as the new council tax bills hit the doormats.

Anecdotally, my sister in South Manchester was going to buy in Sept for around £185,000 - I pursuaded her to rent for 6 more months and two of the three houses she was looking at are now down to £164,995 and £170,000. She is now going to wait until things "bottom out a bit further". She will still buy next year as she needs a bigger place for her new kid but will probably have saved at least £30,000 on the price by then and the same again on mortgage costs.

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Just checking old news stories and I found this... http://www.firsttimebuyerhelp.co.uk/news/story.aspx?id=6

If 0.6% drop made that kind of headline and was the biggest drop in 10yrs... What is going to happen on Monday morning when the press change sides and start making money with bear talk... :)Oh and how long ago is it since a similar drop?

I cant wait. I'm going to buy every paper I can find proving my thoughts and shove it up the ass of my workmates who talk to me like I am stupid when I tell them house prices are crashing!

BRING IT ON!

Edited by Spikey

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typical vested report. only reporting because it has to in order to at least get a faint of credibility.

they cant admit anything bad with a minute later adding that prices will rise in 2006.

yeah sure they will.

last insult was the 2 invest in property ads on the bottom of the page.

its so charred its macarbe.

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Just a note of caution:

This is a fall in asking prices during the quietest time of the year. The report shows the that number of properties per agent has also fallen during this period.

Dare I suggest that the wasters who have been kite flying for £0.5M for their three bed semis will have pulled out during this period as "we don't want scummy people viewing during Christmas". The genuine people who want to sell (and have more realistic prices) will stick it out through the festive period.

When March rolls around, the same old wasters and some new wasters will be back on the market.

Low and behold, a Rightmove report showing a rise in asking prices.

We could be back to square one before the spring. I believe the underlying trend is still downward but please don't trust these fools. The ODPM figures will be worth waiting for but the reporting lag is greater :(

Don't make me a Troll !!

Xil.

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  • 301 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%



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