Jump to content
House Price Crash Forum
TheCountOfNowhere

House prices everywhere rising !!!

Recommended Posts

Ripple effect, nothing more. One of my landlord's other tenants in Dulwich (SE London) owns 3 BTL properties around Liverpool, figure that one out! The tinternet has made every corner of this country nothing more than a "click and collect" for Southerners, so willing to BTL that they'd hand over £1200+ in rent to stay in London whilst monitoring their terrace empire remotely.

Patience is key. Employment has no where to go but down, interest rates have nowhere to go but up, BTL/S24 changes still to kick off, and Brexit hasn't even started yet. It may be good for the country in the long term but by 'eck Vera the uncertainty in the interim is gonna cause some wobbles!

People up to their necks in record cheap credit, singing "everything is awesome", last year was our 06/07 mania period.

So many wider risks too, China is gonna pop at some point, the policial situation in the States is getting worse by the day, Le Pen gaining momentum with Banks starting to price it in, property bubbles all over the globe, Oil price sticking around the $50 mark just when it looked like it might start shooting up again. I'm seeing very little good news other than the odd online retailer chicken battery cage opening up in a random location to take advantage of the vulnerable, desperate for the few jobs left.

We're positioned perfectly for the inevitable drop over the edge. What's happening in PCL is the canary in the coal mine, smart money is already outta here.

Edited by Barnsey

Share this post


Link to post
Share on other sites

I'm not so worried.  Have a look at the land registry website.  London leads all pricing movements.  These midlands / northern areas just haven't caught up to the epicenter of London ... yet ...

Share this post


Link to post
Share on other sites

https://www.thesun.co.uk/living/2939808/forget-the-london-property-bubble-house-prices-are-rising-more-in-liverpool-and-birmingham/

 

"Forget the London property bubble – house prices are rising MORE in Liverpool and Birmingham "

 

I didnt read any further..I'm guessing it is a ramping article.

 

Share this post


Link to post
Share on other sites

Crash cancelled. 

Boom is back. Must be all them 'free' iPads they are giving away with 700k houses. 

Take with the usual salt pinch or two. Poll conducted by man selling Class A Mortgage Debt. 

Landlord confidence ‘increases’ despite mortgage interest relief changes

 

The number of landlords planning to sell up as a result of buy-to-let tax changes has dropped.

Paragon Mortgages’ latest Private Rented Sector Trends report found that last year, the proportion of those expecting to sell property reaching its highest ever level at 25%, but this month’s survey of landlords recorded a drop to 17%.

Instead, the proportion of landlords willing to purchase buy-to-let property has grown to 13%, up from a record low of 9% 12 months ago.

Of the 204 landlords interviewed, 94% described tenant demand as stable or growing, with fewer than one in 30 suggesting a decline.

Among landlords expecting to purchase, 62% were seeking terrace houses, 31% wanted flats or maisonettes and 23% sought semi-detached properties.

John Heron, managing director of Paragon Mortgages, said: “With no material improvement in the supply of new housing against a background of strong population growth and household formation, it is no surprise that landlords are continuing to experience strong rental demand. It is promising therefore that there has been some improvement in landlord buying intentions albeit from a low base.

“Any boost this gives to improving supply to the sector, however, needs to be balanced against the additional upward pressure that we are likely to see in rents as a result of the phased impact of the changes to the taxation of rental income.”

http://www.propertyindustryeye.com/landlord-confidence-increases-despite-mortgage-interest-relief-changes-paragon/

Share this post


Link to post
Share on other sites

Manchester is expensive for what it is but still within range of boomers wanting to divert cash into property or gift children on to the ladder. Hope this is the last few puffs of the cigar but my pessimism makes me doubt it.

Share this post


Link to post
Share on other sites

That Hometrack report is pretty bullish - prices up over 9% annual in Oxford. But all I see are price drops, properties taken off the market unsold and even rentals struggling to get tenants.

I still think wages will decide it. If they start to creep up, the prices will hold.

Share this post


Link to post
Share on other sites

I see no ships...

Wait for te tranction figures.

This sound like the normal spring bs push from eas and the like.

Im getting the usual storm of lealets about Mr M wanting to buy in the area. Apparently, Ms Y was outbid on a house near me and wants to buy. Surprised as nothings sold for 18 months.

Share this post


Link to post
Share on other sites

I'm seeing the same 'Groundhog Day' properties on RM in select areas of Manchester come back on time and time again, many just listed with new EA's rather than significant price drops, nice homes but now on sale for almost 2 years! Something has to give.

Share this post


Link to post
Share on other sites

I've noticed two houses that have been on the market have just swapped agents. They weren't selling for £265k and £140k but have now been listed by different agents at £280k and £155k. Am I supposed to feel like I've missed a bargain?

Share this post


Link to post
Share on other sites

Osborne's Northern Powerhouse 'dialogues' have clearly succeeded.

"How much can you give us for this, Mr Xi? ... and this? ... and all these?"

Quote

Chinese investors are being asked to pump cash into four huge Greater Manchester developments as the government pushes its ‘Northern Powerhouse’ agenda to businesses and politicians from the Far East.

Ministers will entertain a Chinese delegation on Thursday to showcase a vast portfolio of investment opportunities in the north.

 

They hope to attract more than £5bn investment in 13 projects - including four in our region - to Chinese and international business leaders.

Chancellor Phillip Hammond, Northern Powerhouse Minister Andrew Percy and International Trade Secretary Liam Fox are set to welcome Chinese Vice Premier Ma Kai and delegates for the eight UK-China Economic and Financial Dialogue.

They’re hoping to secure cash for the Future Carrington development in Trafford; the Kampus project in Manchester city centre; the expansion of MediaCityUK at Salford Quays; and the Stockport Exchange plan.

The government say the ‘Northern Powerhouse’ - coined by former Chancellor George Osborne, is rapidly growing, with twice the foreign investment compared to the national average last year.

They say fostering a ‘golden age’ of UK-China relations can take the plan to balance the economy in the north to the ‘next level’.

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/chinese-funding-northern-powerhouse-mediacity-12154688

chinese-flag-montage.jpg

Share this post


Link to post
Share on other sites

Seem pretty stagnant around here, but it doesn't stop the kite flying.  Our Landlord got rid of one tenant last year and out the house on the market at £365, then £345, now it si £325 and there's still only been one viewing.  I think, finally, it's dawning on folk they could be walking into a big slice of negative equity if they buy just now.

Share this post


Link to post
Share on other sites

I'm in Birmingham and most of what goes on sale is being bought very quickly, but prices seem to be levelling. An EA I met recently thinks the growth is at an end but as you might expect was predicting that prices hold rather than crash.

Share this post


Link to post
Share on other sites
1 hour ago, zugzwang said:

Osborne's Northern Powerhouse 'dialogues' have clearly succeeded.

"How much can you give us for this, Mr Xi? ... and this? ... and all these?"

chinese-flag-montage.jpg

Is that Airstrip One I see in the background?

Share this post


Link to post
Share on other sites
9 hours ago, spyguy said:

I see no ships...

Wait for te tranction figures.

This sound like the normal spring bs push from eas and the like.

Im getting the usual storm of lealets about Mr M wanting to buy in the area. Apparently, Ms Y was outbid on a house near me and wants to buy. Surprised as nothings sold for 18 months.

.

Edited by shindigger

Share this post


Link to post
Share on other sites

Outskirts of south manc here,  house around the corner was sold for record breaking price about 4 months ago. it's been back on the market,  pure flipping, absolutely nothing done to the inside  (it had already been done up inside prior to selling ). I don't even think anyone has been living in it as never noticed a car or anyone coming and going. 

 

House was put on for an extra 30k (~10%) . It went SSTC but has come back for sale. Maybe the valuation came back as wtf.  who knows

Share this post


Link to post
Share on other sites
Quote

Total mortgage lending by banks and building societies hit its highest level in January since 2008 in a sign that the housing market continues to hold up.  Gross lending reached £18.9 billion last month, 2 per cent more than the equivalent last year, according to the Council of Mortgage Lenders.

The buyers went ahead without permission of the superior-knowledgers.

Although another source reported lending multiples have been strong on side of max allowed under bank rules, in recent times, and way up on just a year or so ago. 

Again, the buyers choice.  They get the property they want, and they know their own financial position and outlook for the future better than anyone else.

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.

  • The Prime Minister stated that there were three Brexit options available to the UK:   33 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    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.