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Amiinsane

'house Prices Dip After Btl Rush'

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Bugger rightmove says asking prices are still going up nevertheless according to reuters

Yep, asking prices still bear no relation what so ever to stats or actual sold prices... a 2 bed came up for sale yesterday on my road for £150k... the house next door to it (identical size and layout but nicer condition) sold for £118k in Feb, after being on the market for a year.

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Rightmove seems to be saying, ok the BTL deadline has expired but that has spawned chains with people trading up. So the market could have a temporary boost post deadline.

I guess boomers sitting on eye watering cash portfolios that they have been steadily accumulating during their mortgage free status have unleashed a cash bazooka onto the market because they weren't happy with their 1% ISAs.

You can trust boomers to do the right thing. :)

Edited by crashmonitor

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Rightmove seems to be saying, ok the BTL deadline has expired but that has spawned chains with people trading up. So the market could have a temporary boost post deadline.

I guess boomers sitting on eye watering cash portfolios that they have been steadily accumulating during their mortgage free status have unleashed a cash bazooka onto the market because they weren't happy with their 1% ISAs.

You can trust boomers to do the right thing. :)

huh?...chains, being chains, all complete at about the same time, all deals concluded, bridges in place, and all hands to the pumps..if not, the chain fails and it all falls through.

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huh?...chains, being chains, all complete at about the same time, all deals concluded, bridges in place, and all hands to the pumps..if not, the chain fails and it all falls through.

People step out of chains, live with relatives and then it goes on. I'm a chain breaker that could have emanated from a boomer that got pissed off with 1% ISa rates three or four links back. The cash hasn't disappeared I'm propertyless but that BTL boost may have assisted my sale and i could start another chain of 6 or 7 sales with that.

Huge chains aren't really doable too much to go wrong...you get pauses, the pauses can be days or years.

Edited by crashmonitor

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People step out of chains, live with relatives and then it goes on. I'm a chain breaker that could have emanated from a boomer that got pissed off with 1% ISa rates three or four links back. The cash hasn't disappeared I'm propertyless but that BTL boost put the boomer's money in my pocket and i could start another chain of 6 or 7 sales with that.

Huge chains aren't really doable too much to go wrong...you get pauses, the pauses can be days or years.

so, part of the chain broke, some completed...the BTL window has passed now, so any new sales wont be as a result of the pre deadline rush.such as any there may have been.

All chains are under the new regime..

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(looking in Milton Keynes, Leighton Buzzard and other places Bucks / Beds)

I did see a couple more of the larger houses at the top end of my price range go "under offer" recently but they can easily fall through. The price range I have set up as a search is 275-375k.

Nothing seems to be selling (or at least going under offer) in my search range for MK around 300-350k any longer. None of the houses in my saved list are going under offer.

I've not seeing an excess of properties to rent coming in my price range either. There have been about 4/5 in that last month that I recognise from the "for sale" listings of the last 3 months. Not a stampede.

Edited by Flopsy

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Yep, asking prices still bear no relation what so ever to stats or actual sold prices... a 2 bed came up for sale yesterday on my road for £150k... the house next door to it (identical size and layout but nicer condition) sold for £118k in Feb, after being on the market for a year.

Asking and selling price bear no resemblance to any realistic price, its all a mega free money bubbletastic experiment started by Blair, continued by Cameron.

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There's a bunch less on the market in my target area this month than there was last month. Haven't seen any evidence of lower prices - if anything the quality of what's on offer is worse.

Plus some BTLer still trying to sell with a sitting tenant now offering to pay the stamp duty.

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