bubbleturbo Posted January 11, 2006 Share Posted January 11, 2006 I am amazed, looking this morning at the amount of "no onward chain" properties appearing on the market. Must be amateur BTL's selling up. I think an exodus seems to be taking shape: http://www.rightmove.co.uk/viewdetails-915...pa_n=1&tr_t=buy http://www.rightmove.co.uk/viewdetails-496...pa_n=1&tr_t=buy It's hardly been on the market 5 minutes! Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 11, 2006 Share Posted January 11, 2006 Woohoo!!! Let's get all excited, 1 property that wasn't priced to sell has been reduced..... Crack open the champers.... Quote Link to comment Share on other sites More sharing options...
Allthatglitters Posted January 11, 2006 Share Posted January 11, 2006 Crack open the champers.... Or go and put on the brown trousers Quote Link to comment Share on other sites More sharing options...
homeless Posted January 11, 2006 Share Posted January 11, 2006 i completely agree i think we are just over the tipping point and its gonna be now, not next year not in 2008 but its happening right now. and even nationwide and halifax wont be able to spin this one out any longer Number of households with residents fylde 32369 Number of households with residents blackpool 63940 total households in the fylde lets add in empty hosues too so lets say 100k residential homes in the fylde 300 houses repossese last 3 months ie 1200 yoy that means 1.2% of all houses repossesed in a yoy and growing say 20% council owned and 20% btl(lot of renting here) you are talking the average owned property here 2% being repossesed each year THATS BASICALLY 1 HOUSE EVERY YEAR IN EACH STREET crash mode has arrived Quote Link to comment Share on other sites More sharing options...
Bedsprings Posted January 11, 2006 Share Posted January 11, 2006 Probably just reflecting the current Reigate market - a local estate agent says that normally January is really buzzing - but not this year... That house was probably priced about the same as similar Reigate properties,. From our watching brief over the Reigate market, we've noticed that even reducing some by 20% hasn't shiftd them! Quote Link to comment Share on other sites More sharing options...
Marina Posted January 11, 2006 Share Posted January 11, 2006 I am amazed, looking this morning at the amount of "no onward chain" properties appearing on the market. Must be amateur BTL's selling up. I think an exodus seems to be taking shape: http://www.rightmove.co.uk/viewdetails-915...pa_n=1&tr_t=buy http://www.rightmove.co.uk/viewdetails-496...pa_n=1&tr_t=buy It's hardly been on the market 5 minutes! That is because, despite the EA spending good money on newspaper adverts, property details, floor plan, website listings etc etc etc - they got NO viewings. So, two weeks on, vendor says 'no fecking viewings then?' EA back-pedals ... er ..... er .... er ...... er ....... not so many people looking at this time of the year .... if we drop below 200k it will reach a different segment of the market. W@nker, w@nkers, w@nkers, w@nkers ... every last one of them. Property price should be about 90k. Quote Link to comment Share on other sites More sharing options...
othello Posted January 11, 2006 Share Posted January 11, 2006 I am amazed, looking this morning at the amount of "no onward chain" properties appearing on the market. Must be amateur BTL's selling up. I think an exodus seems to be taking shape: http://www.rightmove.co.uk/viewdetails-915...pa_n=1&tr_t=buy http://www.rightmove.co.uk/viewdetails-496...pa_n=1&tr_t=buy It's hardly been on the market 5 minutes! HOW MUCH???!!! Does that mean people have been stupid enough to pay nearly £1/4 million for a tiny t bed terrace!! Total madness. Quote Link to comment Share on other sites More sharing options...
Marina Posted January 11, 2006 Share Posted January 11, 2006 Woohoo!!! Let's get all excited, 1 property that wasn't priced to sell has been reduced..... Crack open the champers.... Once upon a time there was a lovely, rising property market. People could ring up their friendly and helpful estate agent and they would price their property just above the going rate. All the lucky buyers would queue up to see the lovely new property and take it turns to wander around and admire its beauty. One of the buyers was sure to fall in love with the lovely property and pledge to borrow as much as they could, and a little bit more, so they could buy the beautiful property and make it their very own home. And, if the property was a teensy-weensy bit expensive, the buyers knew that very, very soon the property would be worth even more than they paid for it and everything would be just as tickety-boo as it is possible to be. Ahhhhhhhhhhhhhhh. Fairy tale is over. The bears are back home. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 11, 2006 Share Posted January 11, 2006 When you see a property of that size with an asking price of that price only a fool, IMPO, cannot see that we are in a huge housing bubble. Five or six years ago, even less, a house of that size in my part of the World would have gone for about 35 to 40K - 45K absolute tops. Now, they are on the market for 200K. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted January 11, 2006 Share Posted January 11, 2006 £75-85k at todays IRs would acceptable. as it always used to be. before every man and his dog got onto the supposed free gravy train. Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted January 11, 2006 Author Share Posted January 11, 2006 When you see a property of that size with an asking price of that price only a fool, IMPO, cannot see that we are in a huge housing bubble. Five or six years ago, even less, a house of that size in my part of the World would have gone for about 35 to 40K - 45K absolute tops. Now, they are on the market for 200K. Out of interest, the house sold on 21/07/2000 for £108,000. I would estimate the true value of the house to be around £110,000 - £130,000 if we were not in a bubble. Reigate is quite a nice place (for the South East), with good transport links and easy travel into London. I am still amazed by the amount of "no chain" properties I am seeing. If this continues, it will only be a few weeks/months before the BTL brigade are all at it the papers pick up on the bail out. Quote Link to comment Share on other sites More sharing options...
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