Jump to content
House Price Crash Forum
Oliver Sutton

Rics - New Buyers Desert Market

Recommended Posts

http://www.bbc.com/news/business-36266941

The number of people interested in buying a house in April fell to its lowest level for nearly eight years, according to surveyors across the UK.

The number of new enquiries fell most dramatically in London, but also fell in nine other regions of the UK.

FTB pretty extinxt for 12 years in the towns i monitor.

Transaction have been on the floor. A few stuff going to BTL

'Savvy investors' © Busta 206 have been the market in most places outsie (and probably inside) London for a good 10 years.

Totally false market.

Share this post


Link to post
Share on other sites
Guest

They're blaming stamp duty rise! That only affects BTL merchants... So they've admitted who has been their main customer until now!

They also blame brexit fears! Tw@ts!

Share this post


Link to post
Share on other sites

They're blaming stamp duty rise! That only affects BTL merchants... So they've admitted who has been their main customer until now!

They also blame brexit fears! Tw@ts!

When owner occupiers no longer have access to the market, and few can move within that market....the market is broken, dysfunctional, busted.;)

Share this post


Link to post
Share on other sites

FTB pretty extinxt for 12 years in the towns i monitor.

Transaction have been on the floor. A few stuff going to BTL

'Savvy investors' © Busta 206 have been the market in most places outsie (and probably inside) London for a good 10 years.

Totally false market.

Yes.

An example of one BTLer.

ZUwBMOhC.jpg

https://uk.linkedin.com/in/mark-alexander-a3979a2b

Share this post


Link to post
Share on other sites

All this "news" is either a massive VI intervention to spook the EU #BrExit voters or prices are collapsing.

Im still 50/50 on this.

However, a #BrExit vote means prices will collapse.

Happy days.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

It's hard to tell. I think BTL is more or less over for new entrants now.

The new level is the buying powers of Owner occupiers, which depends on FTB at the bottom.

FTB wont be active until prices more than half in most of the UK.

This is just the start of the fall, we are only half way through May at the moment. I think the buying clearing level has dropped dramatically so we now have our crash, shame it will take sellers 6-18 months to realise no one wants, or even can entertain their selling prices.

Couple this with a range of factors like BTL trying to offload we have a decent storm.

The timing of brexit was planned, right now is perfect for the Gov to trigger a crash, to net a load more home owners and create a green shoots for the election.

We also have a money laundering crackdown on home buyers.

Share this post


Link to post
Share on other sites

<script type="text/javascript">url="http://www.webaddresshelp.bt.com/main?ParticipantID=mg76cjr54t8kx45jjw4j4k9j5hsr5m26&FailedURI=http%3A%2F%2Fwww.housepricecrash.co.uk%2Fforum%2Findex.php%3Fdo%3Dquote%26app%3Dforums%26md5check%3D2f4ca7b4fda0dff6325ea2d56e347b8b%26module%3Dajax%26p%3D1102937197%26s%3D1c963f7c628b501f309b32ac7a6a6776%26t%3D209641%26section%3Dtopics%26isRte%3D1&FailureMode=1&Implementation=&AddInType=4&Version=pywr1.0&Referer=http%3A%2F%2Fwww.housepricecrash.co.uk%2Fforum%2Findex.php%3F%2Ftopic%2F209641-rics-new-buyers-desert-market%2F&ClientLocation=uk";if(top.location!=location){varw=window,d=document,e=d.documentElement,b=d.body,x=w.innerWidth||e.clientWidth||b.clientWidth,y=w.innerHeight||e.clientHeight||b.clientHeight;url+="&w="+x+"&h="+y;}window.location.replace(url);</script>

Interest start date - 1989 - considering his age and location.

A LL in 1989 smells of massive negative equity.

BTL loans did no become available until 2002ish.

Id guess he'd sat on some executive studio in Norwich for 13 years, wating to clear the negative equity, then using his experience went nuts deep.

I'd challenge his use of the word 'own'. More 'loaned , waiting to be repo'd'

Good luck managing those houses with that geographic spread.

Most of the locations stink of benefit slumlording too.

Share this post


Link to post
Share on other sites

I read as:

Hi, I'm a sponger leech who has helped price families out of homes and destroy the UK economy. I don't give a flying **** about anyone else. What I failed to realize is all I am is a banker's mark and at some point the burden of supporting my BTL empire will destroy me.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Similar thoughts for me Count, just reading it as a standalone piece. Actually my thoughts more on 'destroy society' and hopes of younger people, with so much of the Big-I-Am claims on property from so many BTLers who've laid claim on so many properties, into a HPI fest, then HPI double down (2010...16)

What also came to mind was Winston Churchill's post-war speech at Westminster College in Fulton (USA), 5 March 1946.

“From Stettin in the Baltic to Trieste in the Adriatic, an iron curtain has descended across the continent.”

So many BTLers claims on too many properties, and FTBs there to farm, whilst some mad mew-cycle mad-gainz for all mid-higher end homes.

Share this post


Link to post
Share on other sites

Obviously knows the areas well, can't even spell Wirral. There's one 'l' (of a shock coming the way of debt junkie types).

If he knew those areas then he would not being property in any of them.

Share this post


Link to post
Share on other sites

They're blaming stamp duty rise! That only affects BTL merchants... So they've admitted who has been their main customer until now!

They also blame brexit fears! Tw@ts!

Yes, the quotes talk about 'short term uncertainty' yet the stamp duty rise is anything but. New entrant BTL is pretty much dead, excellent news indeed imo.

Share this post


Link to post
Share on other sites

It's hard to tell. I think BTL is more or less over for new entrants now.

The new level is the buying powers of Owner occupiers, which depends on FTB at the bottom.

FTB wont be active until prices more than half in most of the UK.

I hope you're right, but don't forget about a further HTB being rolled out. Maybe 40% across the country rather than just London, or even available on existing housing stock.

It really is scary to think about, but they've already gone far further than I would have expected for a Tory government.

Edited by Eddie_George

Share this post


Link to post
Share on other sites

They're blaming stamp duty rise! That only affects BTL merchants... So they've admitted who has been their main customer until now!

They also blame brexit fears! Tw@ts!

Look at the tweets of someone called Neal Hudson yesterday, @resi_analyst . Clearly a massive spike in BTL and cash buyers in March and home movers! (Rent out the old one which presumably accounts for some of the BTL lending too) Edited by 24 year mortgage 8itch

Share this post


Link to post
Share on other sites

All this "news" is either a massive VI intervention to spook the EU #BrExit voters or prices are collapsing.

Im still 50/50 on this.

However, a #BrExit vote means prices will collapse.

Happy days.

Agreed. It's got too much of a whiff of coordination about it for my liking. We'll see.

Share this post


Link to post
Share on other sites

I met a good friend of mine from one of those areas the other day, he has done very well for himself and could probably buy a street if he wanted. He still rents and when I asked him why I got this response

"buy? F**k that, im not giving nearly 200k for some shit terraced house in this fking country. Ill just rent it and let some dumb twit maintain it."

I laughed my **** off.

Share this post


Link to post
Share on other sites

http://www.bbc.com/news/business-36266941

The number of people interested in buying a house in April fell to its lowest level for nearly eight years, according to surveyors across the UK.

The number of new enquiries fell most dramatically in London, but also fell in nine other regions of the UK.

Such lazy analysis. Still expect prices to keep on rising. Surveyors have been key to ramping this market. When the crash comes they should be held at least partly responsible for this mess. They have got this as wrong as the ratings agencies did in 2008.

Share this post


Link to post
Share on other sites

I hope you're right, but don't forget about a further HTB being rolled out. Maybe 40% across the country rather than just London, or even available on existing housing stock.

It really is scary to think about, but they've already gone far further than I would have expected for a Tory government.

The banks are clearly trying to up the market clearing level of OO and FTB via various means. Sadly although clearly prices will have to fall as FTB dont have IO mortgages, i do suspect part of the gov plan to increase home ownership will include lots more schemes to 'help' FTB

although they want a correction in house prices, they wont want the crashtastic 50% plus falls, they would want maybe 20%ish falls which quickly can be pumped up again for the election.

In devon and cornwall asking prices have gone mental this year, as sellers have seen what the BTL were willing to pay before the April deadline. very frustrating! at lease some big reductions will happen in the next few months.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   101 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.