Jump to content
House Price Crash Forum
AvoidDebt

BBC: homeowners moving house in London lowest level for 25 years, lowest number since the recession of 1991.

Recommended Posts

37 minutes ago, ST675R said:

To coin an annoying phrase; the rungs of the ladder are now too far apart!

Yep having to borrow maybe 200k or 300k more to move simply makes it unviable. I blame brexit. Clearly insane house prices havent been reached yet.

Share this post


Link to post
Share on other sites
47 minutes ago, interestrateripoff said:

Yep having to borrow maybe 200k or 300k more WHILE INTEREST RATES ARE AT A 300 YEAR LOW to move simply makes it unviable. I blame brexit. Clearly insane house prices havent been reached yet.

 

Share this post


Link to post
Share on other sites

The local EA's have to eat (unfortunately) so it seems logical to assume that, right now, downward pressure on prices could be escalating more than we know.

What else can the EA's do except re-educate those that are serious about selling?

In a downward market you should never let the perceived value of something stop you from selling it - one thing that many years of dealing with greedy people has taught me is that prices drop hard when they realise that being greedy was a mistake.

Share this post


Link to post
Share on other sites
1 minute ago, Mapatasy said:

The local EA's have to eat (unfortunately) so it seems logical to assume that, right now, downward pressure on prices could be escalating more than we know.

What else can the EA's do except re-educate those that are serious about selling?

In a downward market you should never let the perceived value of something stop you from selling it - one thing that many years of dealing with greedy people has taught me is that prices drop hard when they realise that being greedy was a mistake.

A valid point I never considered to be honest. Surely their usual MO of overvaluing to get the deal surely makes this tricky as the agents trying to get sellers to reduce their expectations are likely to be the ones that are given less instructions.

I agree about greedy people though, they often don't fully understand the market price for something so can easily have their greed turned against them by someone that does.

 

Share this post


Link to post
Share on other sites
11 minutes ago, Mapatasy said:

The local EA's have to eat (unfortunately) so it seems logical to assume that, right now, downward pressure on prices could be escalating more than we know.

 

Certainly looks that way on rightmove right now.

Still a lot of crazy IAPs but seeing stuff head back to 2010 prices albeit slowly.

Share this post


Link to post
Share on other sites
18 minutes ago, buckers said:

There's definitely a move afoot from TPTB to float the idea of Stamp Duty reductions of some sort, or a 0% rate for a while. 

In a market where HPI reigns the SD £££ appears 'magically' from equity or gets tapped onto the mortgage, but when the market stops or goes backwards it has to be fed with real post-taxed earned  £££

The problem is that the could really do with the stamp duty revenue, so I can see a compromise where they try to reduce stamp duty in the  <600k range (or may be just <400K outside the SE) to get more transactions and more tax revenue even if at lower rate.

The other issue is now that FTBs effectively don't have any equity from other properties to fund the stamp duty and FTB will drive market behaviour from the buyer side more than it has done in 15 years given the that BTL buyers won't in the way they have previously done!

Share this post


Link to post
Share on other sites
26 minutes ago, TheCountOfNowhere said:

Certainly looks that way on rightmove right now.

Still a lot of crazy IAPs but seeing stuff head back to 2010 prices albeit slowly.

Very few signs /stuff in EA's windows and even fewer transaction near me is SW London...

Last week's data with the drop in initial asking prices show it is beginning to focus EA's minds

Share this post


Link to post
Share on other sites
26 minutes ago, buckers said:

There's definitely a move afoot from TPTB to float the idea of Stamp Duty reductions of some sort, or a 0% rate for a while. 

In a market where HPI reigns the SD £££ appears 'magically' from equity or gets tapped onto the mortgage, but when the market stops or goes backwards it has to be fed with real post-taxed earned  £££

Why would the Chancellor ( who has the largest property portfolio in the cabinet ) prop up the housing bubble ?

Share this post


Link to post
Share on other sites

Hardly surprising when two salaries taken to obtain max mortgage amount, when pay rises are flat, and when looking after children full time means unable to work full time.......that is before the 'liar loans' and the interest only that prevents movement onwards and upwards.....there is no ladder, or a very short one with a big gap in between.....bit like a new style tri choc bar.;)

Share this post


Link to post
Share on other sites

 

4 minutes ago, TheCountOfNowhere said:

Why would the Chancellor ( who has the largest property portfolio in the cabinet ) prop up the housing bubble ?

I think that is exactly why he won't cut stamp duty at high end in March budget. It's too obvious and would be ridiculed when the govt keeps banging on about the 'JAMs'. For everything under £1m stamp duty was cut considerably when the cliff edge was stopped in Dec 2014. I doubt stamp duty will even be mentioned in the budget. 

sdlt-green-book.png

 

Share this post


Link to post
Share on other sites

From 2014 is much fairer.....look at the £250,000 property against a £2,000,000 property SD tax paid before that....those with the least paying the most tax....same as it ever been.;)

sdlt-green-book.png

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.

  • Next General Election   94 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    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.