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eric pebble

Property Warning: Huge Signs Of House Price Crash As Buyer Numbers Plunge

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This is coming from a paper whose headline screamed that house prices were 'Still Rising' when they had been falling for nearly a year back in 2010 or so.

I wonder what has caused this change in sentiment.

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on the same page

Fears grow for savers: Is the Bank of England about to CUT interest rates?

so we should all take our meagre savings (saving for a deposit on an overpriced house) and go out and spend to save the economy (just like the last 9 years then when rate at 0.5%)

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FTB buyer numbers crashed over 10 years ago.

Thats your warning.

After that, it s just been very low transaction and a bunch of some to be insolvent idiots doing leverage BTL.

As I pointed out to my Hum, who's going to buy your house in the near future?

Too expensive for local people.

No one moving to her area for work.

No investors as they cannot get the money.

Its just a small band of older people, shuggling assets between them before they die.

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There are several papers that should only be used as toilet paper, this being one of them.

http://www.express.co.uk/news/uk/626511/House-prices-soar-record-highs-expected-2016

It was full of **** when they were ramping [prices on the way up and it's full of s**t now.

However, as a measure of sentiment...it was spot on on the way up....................

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This is coming from a paper whose headline screamed that house prices were 'Still Rising' when they had been falling for nearly a year back in 2010 or so.

I wonder what has caused this change in sentiment.

The need to flog advertising space.Euphoria sells and so does fear.

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It was full of **** when they were ramping [prices on the way up and it's full of s**t now.

However, as a measure of sentiment...it was spot on on the way up....................

Yep, the express reflects and reinforces sentiment in the here and now .... which is great for us.

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So buyer numbers are cut in half immediately as the 3% second homes tax comes in.

Looks to me like the only people buying for about a decade have been 'investors'. Why on earth did the government think that locking young people out of home ownership was in any way a good policy? Why did they let it continue for so long?

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So buyer numbers are cut in half immediately as the 3% second homes tax comes in.

Looks to me like the only people buying for about a decade have been 'investors'. Why on earth did the government think that locking young people out of home ownership was in any way a good policy? Why did they let it continue for so long?

Do you really have to ask?

House prices up => Get voted back in.

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I have also found the last few weeks supply has also been cut (looking around whole SE London area), things are not selling as quick but prices haven't really come down. Going to viewings agents are saying demand has dropped but sellers are not willing to reduce prices, and things are still selling just weeks later. Until rates go up dramatically nothing will change.

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I have also found the last few weeks supply has also been cut (looking around whole SE London area), things are not selling as quick but prices haven't really come down. Going to viewings agents are saying demand has dropped but sellers are not willing to reduce prices, and things are still selling just weeks later. Until rates go up dramatically nothing will change.

Bit of a gloomy first post, cheer up.

Things seem to be ticking along nicely imo, barely 6 weeks after the SDLT change and the emegence of articles about dropping numbers of buyers are already appearing. That's pretty encouraging imo.

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I have also found the last few weeks supply has also been cut (looking around whole SE London area), things are not selling as quick but prices haven't really come down. Going to viewings agents are saying demand has dropped but sellers are not willing to reduce prices, and things are still selling just weeks later. Until rates go up dramatically nothing will change.

It'll take time. The housing market is so illiquid it'll be months into any crash before most sellers even realise what's happening. By that point they can be as unwilling as they like, the only choice they have is to sell at the price buyers are willing to pay or not sell at all.

And ignore everything estate agents say. Unless they ask you to set their trousers on fire, in which case, listen to them and act as requested with great enthusiasm.

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Looking back at some of the reports from 2006-2008 it took buyers many months to accept reality. Many didn't, they just sat tight and waited. Many now will rush their property onto the market I suspect (I'm seeing many high end properties come on in the past few weeks in my area) to try to sell it before the ship sails.

On the subject of the Daily Express, a lot of people here (and particularly elsewhere eg Guardian) give them far too much credit. They are one of the least-read newspapers, and nobody really reads newspapers anyway nowadays. They are almost an irrelevance.

Edited by spunko2010

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My company works within the industry and there is a massive amount of residential building in the pipeline.

See what just got approved to be built around Wembley. This is the tip of the iceberg. By all account institutional investors seem to be starting to focus on the market in a big big way and not just in London.

http://www.quintain.co.uk/news-and-media/news-center#2016

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FTB buyer numbers crashed over 10 years ago.

Thats your warning.

After that, it s just been very low transaction and a bunch of some to be insolvent idiots doing leverage BTL.

As I pointed out to my Hum, who's going to buy your house in the near future?

Too expensive for local people.

No one moving to her area for work.

No investors as they cannot get the money.

Its just a small band of older people, shuggling assets between them before they die.

The entire Uk economy summed up in one sentence!

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