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Saving For a Space Ship

 Desperate UK homeowners are cutting prices, says Zoopla

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“We see house prices rising a modest 2-3% in 2018,” said Howard Archer, chief economic adviser to the forecasting group, the EY Item Club. “The fundamentals for house buyers are likely to remain challenging over the coming months with consumers’ purchasing power continuing to be squeezed by inflation running higher than earnings growth. Additionally, housing market activity is likely to be hampered by fragile consumer confidence and a limited willingness to engage in major transactions.”

"Things are terrible, but we'll just make up a positive number anyway."

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“Those on the look-out for a bargain should consider looking in Camberley or Kingston upon Thames in the south..."

Bargain? Not yet mate.

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So prices still going up they claim, dropping from some utterly insane asking price to a mere ludicrous one doesn't excite me too much.

Love the way the journalist of that vile rag blames Brexit for their own family and friends not being able to get the free money they deserve.

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Round here they are changing prices from offers in the region of (for example) 425-450k to offers over 425K.

Presumably to make people understand the 425 is just to appear cheaper in the search......not a price to be negotiated.

There are few things I hate more than looking at a 375k house thinking hmmm been for sale for nearly a year methinks 300-330 offer might be considered.....to then click and it's 375-400 which Rightmove et all should not allow (maybe put on the search and list at the top of the band).

Houses are clearly not selling well in my area on for a year > portal juggle a bit > take off > put on again > change agent > New photos etc etc etc

Anything but put on for the same price as the last one sold for

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Noticed over the weekend that in the confines of my very particular rightmove search one place has finally been reduced, 9%, it's a start. Up till now it's been months of fake SSTC and little agent relisting, delisting, tricks. This was the first solid reduction. They've blinked first. Game on.

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2 hours ago, Fromage Frais said:

Round here they are changing prices from offers in the region of (for example) 425-450k to offers over 425K.

Presumably to make people understand the 425 is just to appear cheaper in the search......not a price to be negotiated.

There are few things I hate more than looking at a 375k house thinking hmmm been for sale for nearly a year methinks 300-330 offer might be considered.....to then click and it's 375-400 which Rightmove et all should not allow (maybe put on the search and list at the top of the band).

Houses are clearly not selling well in my area on for a year > portal juggle a bit > take off > put on again > change agent > New photos etc etc etc

Anything but put on for the same price as the last one sold for

Simple explanation.

20% down, max 4 time household minus any regular expenditure.

MMR PRA.

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23 hours ago, Saving For a Space Ship said:

I'd argue that desperate home owners/EA/bankers pushed prices up, trying to get untaxed unearned unproductive money because they cant make an honest living off their own skills and knowledge.

 

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13 hours ago, thewig said:

I thought MMR had been cleverly circumvented by the DEBTpushers by extending terms to 30/35year standard

and pushing BTL mortgages onto people who dont own houses.

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15 hours ago, thewig said:

I thought MMR had been cleverly circumvented by the DEBTpushers by extending terms to 30/35year standard

I sought of a struggle when the a FTB is 35+.

My bench mark lender, HSBC, is reluctant to offer a mortgage that goes over 65.

Some smaller ones might.

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19 hours ago, spyguy said:

Simple explanation.

20% down, max 4 time household minus any regular expenditure.

MMR PRA.

4x well off Norfolk household (35k + 25k) = 240 / 80 x 100 = 300

That's peak household wealth I do not think any area has a household wealth av over 60 in Norfolk.

Affordable at current ir's 300 - 350 as per anecdotal everyone asking for 400K+ but unless parents fork it out its a no go.

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1 hour ago, Fromage Frais said:

4x well off Norfolk household (35k + 25k) = 240 / 80 x 100 = 300

That's peak household wealth I do not think any area has a household wealth av over 60 in Norfolk.

Affordable at current ir's 300 - 350 as per anecdotal everyone asking for 400K+ but unless parents fork it out its a no go.

Id guess those household are commuting, so knock 12k off.

 

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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