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lombardo

City AM: One third of London house prices have been reduced

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http://www.cityam.com/269075/one-third-london-house-prices-have-been-reduced-weve-ranked

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Analysis of homes listed on Zoopla has found 35.3 per cent of all homes listed for sale in the capital have had their prices cut since they were first listed, up from 29.7 per cent in February.

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“What’s unusual about the level of discounted properties is that it would suggest there are too many sellers and not enough buyers," pointed out Alex Gosling, chief executive of HouseSimple.

"But strangely this market is still suffering from a lack of new supply. There are actually plenty of buyers looking, but they’re a different buyer from 12 months ago. They are more cautious and viewing multiple properties before making a decision. Long gone are the days when buyers were diving in to avoid missing out as the market accelerated away from them."

 

 

 

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2 hours ago, lombardo said:

“What’s unusual about the level of discounted properties is that it would suggest there are too many sellers and not enough buyers," pointed out Alex Gosling, chief executive of HouseSimple.

"But strangely this market is still suffering from a lack of new supply."

The charming thing is how clearly the article describes the dots, before failing to connect them.

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It is good to see sentiment changing in MSM :-)

However, I've been tracking a three mile radius of one area in the South West of England since July 2016 on Zoopla. The average number of reduced properties throughout that time has been 30.93% The highest percentage of reduced properties was 38% in August 2016 and the lowest was 25% in March 2017. I only gather these figures through habit now as I realise they are utterly meaningless owing to the number of houses returning to the market as "new" with a reduced price.

I was starting to think that Zoopla somehow managed the percentage of reductions allowed in an area, ensuring that 40% was never attained - but I guess it's the EAs manage the "visibility" of reduced houses. 

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You wait eight years and then dozens come all at once...

 

I have no clue what is happening (genuinely!)

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6 minutes ago, LC1 said:

You wait eight years and then dozens come all at once...

 

I have no clue what is happening (genuinely!)

Lets see:

1) They are softening people up for a new EU ref

2) They are softening people up for a rate rise

3) Pure coincidence :lol:  :lol:  :lol:  :lol: 

4) The property owning torys want cheaper property :rolleyes:

5) The bankers are in charge and they know the market has died and they can't survive without sales

6) They're all having a jolly jape and just want all the best houses for themselves at these bargain prices

7) The establishment have realised how angry young people/non boomers are and want prices down before they are guillotined.

8) They are just reflecting actual market conditions and reporting the news as it comes in :lol:  :lol:  :lol:  :lol:  :lol:  :lol:  :lol: 

Take your pick, one of them must be about right :lol: 


I think we're all a bit confused, this is a 180 degree about turn from the MSM/Establishment.  

There is clearly something going on.

I'd expect the people in the know have facts/figures that they dont share with us and know the collapse this time is unstoppable

Edited by TheCountOfNowhere

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14 minutes ago, TheCountOfNowhere said:

Lets see:

1) They are softening people up for a new EU ref

 

If there's any shenanigans going on Count, I would say it's the above. 

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10 minutes ago, EssKay said:

 

If there's any shenanigans going on Count, I would say it's the above. 

Dangerous game to play, crashing house prices to win an 2nd EU ref.

When prices start plummeting then how will they stop them :lol:

One other thing I forgot.

The things that puished prices up post 2012 were:

1) HTB

2) FLS

3) MSM propaganda

 

1) Is gone for resales ( the real housing market )

2) FLS has gone, but replaced with Term Funding.  The CEO ( or some such person ) of shawbrook bank said this scheme was going to end and they had to be prepared for it....the keep raising their savings rates at the mo. 

3) The MSM message has clearly changed.

 

This does not bode well for the idiots buying post 2008.  If Term funding is pulled we should at least see 20% drops in the next 12/24 months.

 

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3 minutes ago, TheCountOfNowhere said:

Dangerous game to play, crashing house prices to win an 2nd EU ref.

When prices start plummeting then how will they stop them :lol:

 

Agreed - but you should know by now that there's always another prop you can try.

 

Here's a scenario for you

-20% slide in prices scares the sheep and prompts EU Ref2 (too risky to proceed)

-EU Ref2 results in a remain vote and prompts a halt to the slide

-Chancellor declares that a "healthy" correction has taken place and there's no need to keep the previous constraints in place

-Cue reintroduction of old style HtB, relaxation of MMR rules and a bounce back in prices in time for the next general election

 

Plausible?

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25 minutes ago, EssKay said:

 

Agreed - but you should know by now that there's always another prop you can try.

 

Here's a scenario for you

-20% slide in prices scares the sheep and prompts EU Ref2 (too risky to proceed)

-EU Ref2 results in a remain vote and prompts a halt to the slide

-Chancellor declares that a "healthy" correction has taken place and there's no need to keep the previous constraints in place

-Cue reintroduction of old style HtB, relaxation of MMR rules and a bounce back in prices in time for the next general election

 

Plausible?

It's one scenario for sure.

 

 

Edited by TheCountOfNowhere

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1 hour ago, LC1 said:

You wait eight years and then dozens come all at once...

 

I have no clue what is happening (genuinely!)

Global price correction. London, Sidney and Vancouver?

Perhaps it's different this time after all.B)

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I don't know if crashing house prices would be enough to win them another Brexit referendum. 

Sure a few 'rich' old people might change their votes but anecdotally I feel they'd be cancelled out by the working poor who didn't bother to vote last year because they thought we couldn't win.

These older Brexit voters with HPI to loose will be old enough to remember a time before the EU, many could well have votes against joining the common market in the first place, they might put the interests of their impoverished relatives and friends before their HPI or they may just harbour a burning hatred of immigrants. Their changing votes en mass and voting to surrender to colonisation isn't guaranteed.

Also, Corbyn may have a big part to play. He didn't really turn up in the referendum campaign, he's naturally Eurosceptic and after the GE he seems to have a much more commanding position as leader of the party. If he was to throw his weight behind the Leave campaign and bring his supporters with him that tips the balance firmly in our favour.

Personally I think this is all irrelevant. 8am, 24th June 2016, Cameron phones the Queen, asks her if he has to acknowledge the result or he can pull some tricks and save his own ****. She tells him it's game over, pack his shit and GTF.

 

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1 minute ago, Mine the wheatfield said:

Such noises will bring UKIP back from the other side, they have only recently buried it.  They will get a kicking, whilst not before time, from both extremes - the youth and Crusties.

UKIP coming back from the dead is good for the Tory party as it would appear those who voted UKIP in 2015 went to the Labour party in 2017.

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2 hours ago, TheCountOfNowhere said:

 

 

This does not bode well for the idiots buying post 2008.  

 

 

LOL ah right those idiots like one of the neighbours who sold up for 600k more than paid in 2009 :lol:

i need a crash but we need to be realistic some people won big 

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2 hours ago, Calcutta said:

I don't know if crashing house prices would be enough to win them another Brexit referendum. 

Sure a few 'rich' old people might change their votes but anecdotally I feel they'd be cancelled out by the working poor who didn't bother to vote last year because they thought we couldn't win.

These older Brexit voters with HPI to loose will be old enough to remember a time before the EU, many could well have votes against joining the common market in the first place, they might put the interests of their impoverished relatives and friends before their HPI or they may just harbour a burning hatred of immigrants. Their changing votes en mass and voting to surrender to colonisation isn't guaranteed.

Also, Corbyn may have a big part to play. He didn't really turn up in the referendum campaign, he's naturally Eurosceptic and after the GE he seems to have a much more commanding position as leader of the party. If he was to throw his weight behind the Leave campaign and bring his supporters with him that tips the balance firmly in our favour.

Personally I think this is all irrelevant. 8am, 24th June 2016, Cameron phones the Queen, asks her if he has to acknowledge the result or he can pull some tricks and save his own ****. She tells him it's game over, pack his shit and GTF.

 

I think a lot of people didn't vote because they thought Remain was a cert,victims of Project Fear.There was alos a lot of young people who will vote next time.

55-45 Leave in round two I suspect.

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2 hours ago, Habitationi Bulla said:

UKIP coming back from the dead is good for the Tory party as it would appear those who voted UKIP in 2015 went to the Labour party in 2017.

Treza's big mistake.............assuming Ukip vote would transfer to her........errr...no.

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56 minutes ago, Sancho Panza said:

I think a lot of people didn't vote because they thought Remain was a cert,victims of Project Fear.There was alos a lot of young people who will vote next time.

55-45 Leave in round two I suspect.

You assume the result hasn't already been arranged.

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3 hours ago, Habitationi Bulla said:

UKIP coming back from the dead is good for the Tory party as it would appear those who voted UKIP in 2015 went to the Labour party in 2017.

Why do you think so? It's Conservatives who are negotiating the EU exit and they will be targeted by UKIP.

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6 hours ago, TheCountOfNowhere said:

Oh look, ANOTHER, negative housing article in the MSM.

 

I wonder what can be happening.

Its very amusing when know what to look for

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13 hours ago, Calcutta said:

I don't know if crashing house prices would be enough to win them another Brexit referendum.

I think they would be disjoint issues, unless the economic crash and currency devaluation in the UK were so bad that we felt we had to beg to join the euro. That's not a scenario any politician here would aim for.

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12 hours ago, longgone said:

LOL ah right those idiots like one of the neighbours who sold up for 600k more than paid in 2009 :lol:

i need a crash but we need to be realistic some people won big 

Sold up and banked the money and downsized, or sold up and bought a new house ?


The idiots I speak of are the one's who'd upsized and/or MEWd to invest in BTL, or just sat there counting the money they will never see.  if someone sells up and has banked the cash, well done to them, they are the clever ones.  I doubt there are many of them out there :lol: 

 

Edited by TheCountOfNowhere

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A change in the vote to leave EU is based on the UK remaining with the same  terms as now i.e rebate / keep £ 

The noises from EU are if we choose to stay it would be under new conditions , in that case I dont think you can assume the vote will swing to remain if remain meant losing £ for example .

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24 minutes ago, Nabby81 said:

A change in the vote to leave EU is based on the UK remaining with the same  terms as now i.e rebate / keep £

More to the point, the EU itself has changed in the past 12 months, and not in a way that is likely to appeal to the British Public. 

Poland, for example, has very recently being told that if its government revamps its judiciary its voting rights will be suspended. Italy has very recently NOT been extended any EU help ( financial or otherwise) when it comes to solving its continuing illegal immigrant crisis, with NGOs basically running a ferry service across the Med into EU territory. Germany remains an arch-supporter of the European fiscal compact, which aims for economic and fiscal convergence across the European union. The Turkey deal holding back the illegal migrant tide is a hell of a lot more shaky now than it was 13 months ago. 

And one may note numerous unfriendly comments from EU nations in the wake of the 2016 referendum, which more or less add up to " Whatever deal we reach with you, its going to be guaranteed to screw you- and in a very public manner". Some friends, huh ?

Leave would win a second referendum, if there was one.

And that is why there won't be one. 

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