rantnrave Posted September 13, 2018 Share Posted September 13, 2018 OK, so it's not a major index, but this is the most bearish report on the state of the UK property market I have seen for years. https://www.home.co.uk/asking_price_index/HAPIndex_SEP18.pdf Some snippets... 'For the time being and during the next few years, UK property is no longer a safe store of capital value.' 'The price growth trend suggests that the UK property market is holed below the water line' 'Oversupply in London is taking its toll on prices.' 'The scale and scope of the downturn are both increasing,' 'Clearly, an increasing number of recent buyers will be living under the shadow of negative equity' The report finishes with a comparison to the sinking of the Titanic. Enjoy! Quote Link to comment Share on other sites More sharing options...
darkmarket Posted September 13, 2018 Share Posted September 13, 2018 I was just making a thread on this too, most bearish report so far by far. Liked the mention of Wales: "At the extremes, Greater London prices continue to slide (down 2.5% YoY) whilst Wales is enjoying the most market momentum for around ten years and the greatest rate of price growth across the UK (up 6.0% YoY), and it may be the last domino to fall." That's as good as it gets, just dominos now. Quote Link to comment Share on other sites More sharing options...
thewig Posted September 13, 2018 Share Posted September 13, 2018 last 24hrs in my search area 11/16 listings are price reductions, 5/11 are multiple reductions this is mega mega insane sentiment area, bulletproof to the moon braindead bricks and mortar lover central. This is unprecedented. Quote Link to comment Share on other sites More sharing options...
Horridbloke Posted September 13, 2018 Share Posted September 13, 2018 41 minutes ago, rantnrave said: 'Clearly, an increasing number of recent buyers will be living under ̶t̶h̶e̶ ̶s̶h̶a̶d̶o̶w̶ ̶o̶f̶ negative equity' Sorry, I just had to correct that. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted September 13, 2018 Share Posted September 13, 2018 1 hour ago, rantnrave said: OK, so it's not a major index, ..//... 'The scale and scope of the downturn are both increasing,' 'Clearly, an increasing number of recent buyers will be living under the shadow of negative equity' The report finishes with a comparison to the sinking of the Titanic. Enjoy! Well --- it's only 15 years late... Quote Link to comment Share on other sites More sharing options...
GettingBored Posted September 13, 2018 Share Posted September 13, 2018 1 hour ago, thewig said: last 24hrs in my search area 11/16 listings are price reductions, 5/11 are multiple reductions this is mega mega insane sentiment area, bulletproof to the moon braindead bricks and mortar lover central. This is unprecedented. Property Log users have found 4800+ reductions in the last 24 hours. Before the school holidays it was averaging about 3k per day, during about 1k. It seems now that all the kids have gone back to school we're seeing some motivated sellers. Quote Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2018 Share Posted September 13, 2018 4 hours ago, rantnrave said: OK, so it's not a major index, but this is the most bearish report on the state of the UK property market I have seen for years. https://www.home.co.uk/asking_price_index/HAPIndex_SEP18.pdf Some snippets... 'For the time being and during the next few years, UK property is no longer a safe store of capital value.' 'The price growth trend suggests that the UK property market is holed below the water line' 'Oversupply in London is taking its toll on prices.' 'The scale and scope of the downturn are both increasing,' 'Clearly, an increasing number of recent buyers will be living under the shadow of negative equity' The report finishes with a comparison to the sinking of the Titanic. Enjoy! Just imagine a scene from yes Prime Minister where Sir Humphrey is in a selective Gentleman's club with leather chairs and green table lamps coming to some dodgy agreement with a top 1%er. Well that little chat is happening with the likes of Nationwide if its not happened already to not to make a similar statement that might actually be seen by the serfs. Quote Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2018 Share Posted September 13, 2018 4 hours ago, thewig said: last 24hrs in my search area 11/16 listings are price reductions, 5/11 are multiple reductions this is mega mega insane sentiment area, bulletproof to the moon braindead bricks and mortar lover central. This is unprecedented. And the For Sale sign I posted about in the north Herts and South Cambs area are increasing, something is happening. Also starting to pick up from the Polish, who I really like by the way, that England is not so nice after all and things are getting better back home, something I am going to google about when I get back home tonight, is the Poland economy picking up? Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted September 14, 2018 Share Posted September 14, 2018 18 hours ago, inbruges said: And the For Sale sign I posted about in the north Herts and South Cambs area are increasing, something is happening. Also starting to pick up from the Polish, who I really like by the way, that England is not so nice after all and things are getting better back home, something I am going to google about when I get back home tonight, is the Poland economy picking up? By miles. Go there and see the road infrastructure - makes here look awful. I visited there last year and this year. * minimum wage had increased over 5% this year * General salaries picking up more so * Prices were up significantly on basics + fast food was much more expensive than a year ago it felt * Most importantly housing is still *relatively* well priced. Might as well go there before the HPI cancer really takes off. Quote Link to comment Share on other sites More sharing options...
crazypabs Posted September 14, 2018 Share Posted September 14, 2018 1 hour ago, Frugal Git said: Go there and see the road infrastructure I love the roads in Poland, I had to drive from Berlin to Krakow, the duel carriageway way incredible, the side leaving Poland was immaculate, a newly laid road, stunning piece of engineering, the side into Poland though, clearly hadn't had any work done on it since the 50's, it was bumpy and lumpy for 10's of miles. I reckon they don't want the Germans to visit in a hurry again. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted September 14, 2018 Share Posted September 14, 2018 2 hours ago, crazypabs said: I love the roads in Poland, I had to drive from Berlin to Krakow, the duel carriageway way incredible, the side leaving Poland was immaculate, a newly laid road, stunning piece of engineering, the side into Poland though, clearly hadn't had any work done on it since the 50's, it was bumpy and lumpy for 10's of miles. I reckon they don't want the Germans to visit in a hurry again. I did a similar journey (entering from near Dresden) and it's stark isn't it - the contrast between the German autobahns with their never ending roadworks and crappy surfaces - and then those glorious new ones as you enter Poland. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 14, 2018 Share Posted September 14, 2018 Isn't that just EU money? Much the same was evident in Spain in the 90s, from memory. Quote Link to comment Share on other sites More sharing options...
thewig Posted September 18, 2018 Share Posted September 18, 2018 On 13/09/2018 at 09:29, thewig said: last 24hrs in my search area 11/16 listings are price reductions, 5/11 are multiple reductions this is mega mega insane sentiment area, bulletproof to the moon braindead bricks and mortar lover central. This is unprecedented. Last 24hrs 15/23 listings are price reductions. Proper wtf here. Quote Link to comment Share on other sites More sharing options...
SOLZHENITSYN Posted September 18, 2018 Share Posted September 18, 2018 On 13/09/2018 at 13:35, inbruges said: And the For Sale sign I posted about in the north Herts and South Cambs area are increasing, something is happening. Also starting to pick up from the Polish, who I really like by the way, that England is not so nice after all and things are getting better back home, something I am going to google about when I get back home tonight, is the Poland economy picking up? Set to be Europe’s growth engine according to this, several other positive reports out there if you do some googling. Seems to Polish economy of a decade ago has vastly improved https://www.mckinsey.com/~/media/mckinsey/business functions/economic studies temp/our insights/how poland can become a european growth engine/poland 2025_full_report.ashx Quote Link to comment Share on other sites More sharing options...
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