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rolandormrod

City AM this morning front page!

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15 minutes ago, rolandormrod said:

House prices predicted to keep falling. London’s worst month since 2009

This story was staring me right in the face as I walked out of the tube this morning. 

Hopefully injects an added bit of realism to sellers in London when they go to work.

Haha, I was about to post the same. I even took two copies of the paper, left one in the kitchen at work and another on a general table in the office. Great start to the morning

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Indeed a great start to the morning. It's not exactly news to me as I've been watching my local area (Acton) for about a year now and some properties have had reductions of up to 15%. 

I have a feeling that this won't quite spur Landlords into action just yet but if May is another bad month for price action then Landlords looking to sell up due to S24 will probably start to feel some worry.

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It's incredible how all these news stories about falling house prices suddenly start happening just before the BoE are about to make a descision on raising interest rates. Call me cynical but once they announce no interest rate rise today (as I strongly fear) then suddenly all the house price indices will go back to booming - that is until another rate rise is threatened.

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1 minute ago, lostinessex said:

It's incredible how all these news stories about falling house prices suddenly start happening just before the BoE are about to make a descision on raising interest rates. Call me cynical but once they announce no interest rate rise today (as I strongly fear) then suddenly all the house price indices will go back to booming - that is until another rate rise is threatened.

I said this to a friend last night and he said "I think you're adding 2 and 2 and making 5".  Really?  Like lostinessesx has said, it's a remarkable, remarkable co-incidence.  

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Of course that'll be a factor but I think there's other things weighing down on it. From what I can remember credit growth plummeted as well as retail sales this month, add also all the stories about job losses etc. If a threat of interest rate rises was on the cards and people wanted to keep being mental then they would all be rushing to lock in those credit cards with lower rates.

I think people are pretty tapped out by now. Add Brexit uncertainty and the news of retail/dining closures and the picture looks pretty dodgy. Why would anyone prudent go and take on a 400k mortgage when the economy is looking like it is?

 

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16 hours ago, heffsta said:

Haha, I was about to post the same. I even took two copies of the paper, left one in the kitchen at work and another on a general table in the office. Great start to the morning

You're a hero, great work!

 

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19 hours ago, heffsta said:

Haha, I was about to post the same. I even took two copies of the paper, left one in the kitchen at work and another on a general table in the office. Great start to the morning

Next time make a suit from 30 copies and wear it all day!

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  • 341 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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