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TheCountOfNowhere

My Neighbour is struggling to sell....

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This is purely anecdotal but after nearly 10 years on here I'd hope people give it the respect it deserves.

I have a neighbour a few doors up, been trying to sell for 6 months now ( Northants ).

Asking price now down 15% from IAP and asking price is now £20K above what they paid for the place in 2013.

That's after a garage conversion and new kitchen.

The house is almost half the size of the one I rent and I estimate their insterest payments to "buy" the place would be £500pcm more than I pay in rent !!!

My rental s better situated and much much nicer.

The AP is approx double what it should be, based on what I pay on rent, common sense and historical data.

If this place is failing to sell then most nicely situated family homes must be failoing to sell....the question is WHY?

This has given me a nice warm fuzzy feeling.

Is this the begining of the end....lets hope so.

Edited by TheCountOfNowhere

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These apparently small one-off examples start to set the tone for the area .. and are at the forefront of changes in sentiment ... Rightmove etc allows people to compare all 3-bed semis in a postcode area ... anything overpriced will stick out like a sore thumb. I have the best feeling about the building crash compared to any time since 2008.

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Pick a postcode. Look at number of transactions.

In the North the numbers have been on the floor for 10+ years. Theres a large number of stock thats been up for sale and nit sold. Theres s lotof people queued up to get out of the door.

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Fair play to you, but no signs of any crash where i'm looking. I'm needing to see 30% falls to get back to 2013 levels.

OK you may see the odd house that was overpriced in 2013 coming on at 15% higher, but there aren't many of those.

This is todays offering, reduced from £260K to 250 now £240K, in 2013 something similar though slightly larger went for £180K

£240K - http://www.rightmove.co.uk/property-for-sale/property-60466691.html

£180K - http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=50644322&sale=28194108&country=england

PS i won't be buying such crap, i want something that'll allow me to swing the cat around.

 

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Recently on my road it took neighbors 2 years "on sale" till it did. In the 1970's - 80's many of the people buying on my road where couples and families aged 20's and 30's starting their lives / family / future. That's long gone now of course today its only people over the age of 60 who are swapping inflated assets, and sales are few and far between and slow.

 

 

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7 minutes ago, Crumbless said:

Fair play to you, but no signs of any crash where i'm looking. I'm needing to see 30% falls to get back to 2013 levels.

OK you may see the odd house that was overpriced in 2013 coming on at 15% higher, but there aren't many of those.

This is todays offering, reduced from £260K to 250 now £240K, in 2013 something similar though slightly larger went for £180K

£240K - http://www.rightmove.co.uk/property-for-sale/property-60466691.html

£180K - http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=50644322&sale=28194108&country=england

PS i won't be buying such crap, i want something that'll allow me to swing the cat around.

 

We're not saying it's good value, we're saying it's the start of something.

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6 minutes ago, Crumbless said:

Fair play to you, but no signs of any crash where i'm looking. I'm needing to see 30% falls to get back to 2013 levels.

OK you may see the odd house that was overpriced in 2013 coming on at 15% higher, but there aren't many of those.

This is todays offering, reduced from £260K to 250 now £240K, in 2013 something similar though slightly larger went for £180K

£240K - http://www.rightmove.co.uk/property-for-sale/property-60466691.html

£180K - http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=50644322&sale=28194108&country=england

PS i won't be buying such crap, i want something that'll allow me to swing the cat around.

 

Those houses are just sheds, and very small sheds at that.  Neither should be priced above £50k.  If that's the only option for housing, then why are you living there?

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2 minutes ago, richc said:

Those houses are just sheds, and very small sheds at that.  Neither should be priced above £50k.  If that's the only option for housing, then why are you living there?

I dont' live there. Just one of several possibilities as i've family there.

Insane isn't it, but no crash in sight thats for sure.

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13 minutes ago, Crumbless said:

Fair play to you, but no signs of any crash where i'm looking. I'm needing to see 30% falls to get back to 2013 levels.

OK you may see the odd house that was overpriced in 2013 coming on at 15% higher, but there aren't many of those.

This is todays offering, reduced from £260K to 250 now £240K, in 2013 something similar though slightly larger went for £180K

£240K - http://www.rightmove.co.uk/property-for-sale/property-60466691.html

£180K - http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=50644322&sale=28194108&country=england

PS i won't be buying such crap, i want something that'll allow me to swing the cat around.

 

Up north you get an extra bedroom and detached... still terrible value though!

http://www.rightmove.co.uk/property-for-sale/property-44712747.html

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5 minutes ago, hiace_drifter said:

We're not saying it's good value, we're saying it's the start of something.

Its been the start of something for a decade now. See why i just can't accept people blowing froth off as signs of a crash.

I think when it comes we will know, there will be no need for such pretence. 

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12 minutes ago, One-percent said:

Feck me.  Think how many hours at the coal face is needed to pay for that in Halifax. 

Not too many hours, people in Halifax must have been making well over £50,000 PA after tax year between 2001 and 2003

http://www.rightmove.co.uk/property-for-sale/property-44712747.html

Irony is you'd fckn need to earn close to this amount to buy it now.

Edited by Crumbless

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7 minutes ago, One-percent said:

Feck me.  Think how many hours at the coal face is needed to pay for that in Halifax. 

Greetland is a fairly expensive area. I best most of that street is owned by boomers though who bought for very little. Turn over is low.

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4 minutes ago, Northern Welsh Midlander said:

Greetland is a fairly expensive area. I best most of that street is owned by boomers though who bought for very little. Turn over is low.

Lost for words, always thought that other than the golden triangle and tord spot, Yorkshire was cheap as chips:o:o

8 minutes ago, Crumbless said:

Not too many hours, people in Halifax were earning £95K after tax year between 2002 and 2003

http://www.rightmove.co.uk/property-for-sale/property-44712747.html

Irony is you'd fckn need to earn close to this amount to buy it now.

95k. In Halifax? :o

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2 minutes ago, One-percent said:

Lost for words, always thought that other than the golden triangle and tord spot, Yorkshire was cheap as chips:o:o

95k. In Halifax? :o

Well its what the house earned in a short space of time during Browns miracle economy, surely houses don't earn more than people ... that'd be daft!

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3 minutes ago, Crumbless said:

Well its what the house earned in a short space of time during Browns miracle economy, surely houses don't earn more than people ... that'd be daft!

I suspect that's an error!

I bought in a shit part of Huddersfield in 2003 and prices doubled by 2007 when I sold up. Prices have been pretty much static since.

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1 minute ago, Northern Welsh Midlander said:

I suspect that's an error!

I bought in a shit part of Huddersfield in 2003 and prices doubled by 2007 when I sold up. Prices have been pretty much static since.

2002/03 was utter mania, price going up 35% nationwide ... so obviously the BoE had to drop interest rates.

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5 minutes ago, Crumbless said:

Well its what the house earned in a short space of time during Browns miracle economy, surely houses don't earn more than people ... that'd be daft!

Ah, get you. But, for those who hadn't bought at the right time... who the feck will these kite flyers be able to offload it to?

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2 minutes ago, One-percent said:

Ah, get you. But, for those who hadn't bought at the right time... who the feck will these kite flyers be able to offload it to?

Ask the buyers of this one when it completes?

http://www.rightmove.co.uk/property-for-sale/property-62213552.html

Or this one:

http://www.rightmove.co.uk/property-for-sale/property-55304014.html

Or this:

http://www.rightmove.co.uk/property-for-sale/property-60601418.html

Stuff still seems to be selling :(

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2 minutes ago, One-percent said:

Ah, get you. But, for those who hadn't bought at the right time... who the feck will these kite flyers be able to offload it to?

Not your average paid worker thats for sure.

Sadly if that was in the south i'd just buy it to end this saga, though in 2013 i opted out of buying similar priced places as old skool economic fundamentals told me prices were already insane.

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3 minutes ago, Northern Welsh Midlander said:

So its about £3.5K per m2, truly insane, should be no more than £2k.

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5 minutes ago, Northern Welsh Midlander said:

:wacko: the first two look like flippers to me.  At some point, we must run out of greater fools. But, I've been thinking that since about 2002, so what do I know

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6 minutes ago, Crumbless said:

Not your average paid worker thats for sure.

Sadly if that was in the south i'd just buy it to end this saga, though in 2013 i opted out of buying similar priced places as old skool economic fundamentals told me prices were already insane.

Yep, totally understand. I'm in the south and bout before the madness set in so sitting very pretty thank you. However, I don't see how my offspring will ever be able to afford to even rent, nevermind buy.  So, essentially four adults in a small three bed house. Madness for all 

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37 minutes ago, Northern Welsh Midlander said:

What the hell kind of decor is that in the third one's living room? Are they colour blind? That would give me headaches.

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