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A third of everything

June house price index -Rightmove first?

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1 hour ago, A third of everything said:

http://www.rightmove.co.uk/news/house-price-index/

Am looking forward to the others - are they released on set dates each month?

' However, spring price momentum stalls as price of property coming to market drops by 0.4% (-£1,172), the first fall in June since 2009 at the height of the credit crunch, and the first fall this year '

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It's a smack down. Last year the BoE's rate drop continued to fuel a boom, started by the 2015 pledge.. the vote swung against the status quo... as they drop more people move towards the emergency exits... ;)

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47 minutes ago, Sancho Panza said:

' However, spring price momentum stalls as price of property coming to market drops by 0.4% (-£1,172), the first fall in June since 2009 at the height of the credit crunch, and the first fall this year '

That's pretty significant, worthy of fireworks and flashing letters.

And this is with record high employment and record low interest rates!

Edited by Barnsey

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All the overpriced houses (3+ bedrooms) have continually gone through a cycle of SSTC-Available, according to my property bee firefox browser plugin.

One house on the next road that is at the top end for peak prices has been standing empty since Jan/Feb, had dormer extension put in but needs a redecoration and new bathroom/kitchen put in, looked like an ex-rental (poor BTLer in trouble?). Has just been taken off from one estate agent and is back on with another one ... but for the same kite-flying price.

... there goes the spring bounce huh.

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This is a long way off topic but two work colleagues are complaining about purple bricks both have place for sale with them both said they were put under pressure after two weeks on the market to lower the price 

This is in a "relatively "  ( well compared to many parts of the UK) affordable part of Wales 

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15 minutes ago, long time lurking said:

This is a long way off topic but two work colleagues are complaining about purple bricks both have place for sale with them both said they were put under pressure after two weeks on the market to lower the price 

This is in a "relatively "  ( well compared to many parts of the UK) affordable part of Wales 

I thought you paid a fee upfront for purple bricks?

Thats one of the issues with them they let vendors become deluded and rather save money and shift they choose to save money and ask too much.

 

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2 hours ago, long time lurking said:

This is a long way off topic but two work colleagues are complaining about purple bricks both have place for sale with them both said they were put under pressure after two weeks on the market to lower the price 

This is in a "relatively "  ( well compared to many parts of the UK) affordable part of Wales 

I can imagine the response of all the 'full fat' EA's saying 'you get what you pay for'  etc....as they haemorrhage business to them.

 

Watching these parasites rip each other to bits over the coming years is going to give me no enjoyment whatsoever.

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On 6/27/2017 at 3:44 PM, Fromage Frais said:

I thought you paid a fee upfront for purple bricks?

Thats one of the issues with them they let vendors become deluded and rather save money and shift they choose to save money and ask too much.

 

Yes it`s a fixed fee paid up front £750 ? it`s the fact that it seems to be a "policy" if there`s lackluster interest in the first two weeks they start to pressure the vendor to drop their price ,i realise your question is more about why do that as they have already been paid ,i`m guessing they don`t want people saying they are shit i had the house on the market for X months and had one viewing ...it`s good to see an EA pushing the price down regardless of their VI   ,

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4 minutes ago, long time lurking said:

Yes it`s a fixed fee paid up front £750 ? it`s the fact that it seems to be a "policy" if there`s lackluster interest in the first two weeks they start to pressure the vendor to drop their price ,i realise your question is more about why do that as they have already been paid ,i`m guessing they don`t want people saying they are shit i had the house on the market for X months and had one viewing ...it`s good to see an EA pushing the price down regardless of their VI   ,

 

On 27/06/2017 at 3:26 PM, long time lurking said:

This is a long way off topic but two work colleagues are complaining about purple bricks both have place for sale with them both said they were put under pressure after two weeks on the market to lower the price 

This is in a "relatively "  ( well compared to many parts of the UK) affordable part of Wales 

Both posts just an advert for professional selling even in selling houses - what makes people think they can sell their own house when they can't even sell themselves into their next promotion ? Where we live non selling purple bricks homes every where 

Deluded as well as their stupid asking price 

decent EA's aren't worried about holding the asking price on a percentage basis makes very little difference to their commission 

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4 minutes ago, Greg Bowman said:

 

Both posts just an advert for professional selling even in selling houses - what makes people think they can sell their own house when they can't even sell themselves into their next promotion ? Where we live non selling purple bricks homes every where 

Deluded as well as their stupid asking price 

decent EA's aren't worried about holding the asking price on a percentage basis makes very little difference to their commission 

Probably right the two i know are not happy with the deal ,yet as you say delusional on both fronts ,i get the impression they feel hard done by because they have "paid"  for the service 

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3 hours ago, evictee said:

Also off topic, but if anyone is interested, the May Land Registry data can be viewed now on https://houseprices.io

You won't find it on Rightmove yet!

it keeps crashing on the map view bit for me (using chrome). Love that website though

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14 hours ago, jiltedjen said:

it keeps crashing on the map view bit for me (using chrome). Love that website though

Oh, what's crashing? Not seeing anything wrong in Chrome myself. Anyone else?

Do you mean the little inline maps? Or the full screen one at https://houseprices.io/maps ?

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Both come up with a error message after first showing the maps for a few seconds. Never had an issue before. using Imac and chrome. will read the error message next time I'm on my iMac. Will try it on my iPhone now.

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House prices are shifting downwards towards 2013 prices, until inflation balances out again.

The BoE tightening of mortgage loans now mean that lending criteria is based on 

"The new rules force lenders to apply an interest rate stress test - a test of a borrower’s ability to weather increases in the mortgage rate - at 3 percentage points above the rate that will apply when the introductory offer ends"

Each 0.25% interest rate rise by a central bank is filtered through the financial system and offered as a 1% rise to the end recipient. 

(1% change = 100 basis points)

Hence over the next 12 to 18 months the BoE base rate will be approx. 1.25% the morgage market SRv rate will be between 4.5% to 5%. 

The discount introductory rates will be approximately 3%.

The declines will be aligned to the percentage decline in wage growth, balancing that side of the consumer macro economy.

The activity of concerns relate to spending on credit cards and personal loans, which normally leads to the influx of properties entering the market at a time of heightened uncertainty with regards to the country's future.

 

 

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