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House Price Crash Forum

UK house prices have begun their 50% decline-Paul Hodges calls it


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26 minutes ago, Lambie said:

what the hell did I just read

It's a rat race innit. You must get your balls deep in to debt even if you can't afford it just pay more than what is the perceived(BTL fueled Ponzi) market value. I feel like slapping these idiots 

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5 hours ago, Bland Unsight said:

If you are daft enough to read MSE property threads, you  have nobody to  blame but yourself.

(The one at the link may be the exception that proves the rule. I can't speak to that; I didn't read it.)

I consider going on MSE to be more a case ''know thine enemy''... it's important to maintain awareness of just what lengths the debt junkies, mugs and ''innocents'' are prepared to go to in order to get on the fabled property ladder.

 

Anyone who does venture on there I can highly recommend having a look at posts from ''Glasgowdan'' in particular... they're quite hilarious, a recent buyer who's fear and desperation is now clear to see with his endless ramping of the market and urging everyone else to buy,buy buy.

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Oh my:

 

Why is it so hard to sell a 3 bed semi in Leeds?
I am posting this because I am completely bewildered as to why it's proving so hard to sell my late father''s 3 bedroom semi in Bramley,Leeds.
I originally put it in on for £145k-the estate agents' valuation -and in the middle of the online valuations.That wouldn't even but an apartment in Chapel Allerton -a northern part of Leeds.
I recently dropped the price and still have had few viewings.I think some of the viewers are just idiots who are not genuine about buying.The last viewer said he would only pay £108k.I take that as a personal insult and a joke frankly.
I know Yorkshire people are notorious for bring stingey (I am.one!)-but this is just taking the p****.
I don't understand what the problem is.Its very fairly priced at £132k.The house is immaculate and the decor is elegant though not the most modern or trendy-my dad was 90 when he died-why does anyone expect it?-if the decors not modern enough it's for the buyer to sort it -I simply can't afford such fundamental changes.
WHAT is going on???
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2 hours ago, Peter Hun said:

There is a detailed explanation on that thread explaining that, in fact, the 108k offer was a true and even generous offer for a shabby house in a poor location

It's a middling location with salaries sub 20k, but yeah that rather supports the argument that 108k was generous.

 

Apparently it's just sold (when on at 120) would be interesting to see what for

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On 15/12/2016 at 5:48 PM, thewig said:

What the hell is a honeypot location and do you have her number? :ph34r:

A place with million £ houses and sub 18k£ local salaries.

second home owner land

When your trying to sell a property in such locations they are a proxy London suburb on the way up but a nightmare on the way down as all or nothing demand.

 

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Not London, but I work for a major national housing developer, and I work in the southern area, maybe nothing, but last couple of months any increased revenue has stopped on all sites( last 3-4years every month increases) interest from potential new buyers on certain sites have also dried up( sites where homes were selling off plan) also to add, we were just about to complete on a new site of around 200 plots, was all going ahead, drawings etc all done nearly, plug was pulled last week on it completely, I understand on risk to revenue at present. Things are definitely changing in the market.

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26 minutes ago, hamish1985 said:

Not London, but I work for a major national housing developer, and I work in the southern area, maybe nothing, but last couple of months any increased revenue has stopped on all sites( last 3-4years every month increases) interest from potential new buyers on certain sites have also dried up( sites where homes were selling off plan) also to add, we were just about to complete on a new site of around 200 plots, was all going ahead, drawings etc all done nearly, plug was pulled last week on it completely, I understand on risk to revenue at present. Things are definitely changing in the market.

From the other end of the business as someone who would like to buy a house (if the price were right, which they aren't, which is why I haven't) I can see a very similar picture. At the end of June when I moved into my present place there were flats under construction opposite me. It's six months later and they are still under construction. They have barely changed at all which is not surprising as there are no crew bar a few blokes in hi-vis pottering about a their leisure a few days a week. Same in other parts of town - there is a Redrow "houses coming soon" sign with construction materials piled around it, been there a year at least.

To be fair there are some active construction sites around here but who knows what they will do with the houses when they have finished them given the massive job cuts happening in Thames Valley.

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50 minutes ago, btd1981 said:

The barstewards should be forced to complete these developments at gunpoint. It's just price fixing in slow motion if they deliberately constrain supply.

Thanks to HTB v1, new builds are just as insanely priced, nevermind tiny.  Might as well stop!

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Be interesting with prices and housebuilders, the increases subcontractors have imposed over the last few years have been quite an increase, along with suppliers increasing prices higher than previous years, using brexit as the factor. To be honest it feels like we are at max output already, we just can't get enough labour to build what we want, also have supply chain issues, issues seem to be lack of investment over many years of production facilities, so much so I hear certain housebuilders are going into making their own bricks and tiles. I was thinking a lot of these issue could be resolved with government backing a long term(20years etc) building plan, this would enocourage manufacturers to invest without the risk of bust, would also incourage people to train and work in the industry as there is long term gain 

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