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neon tetra

RICS October -2%

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I would have despaired if this had still remained positive after all of the negative stories. This is a leading indicator, so fingers crossed this will transform into some falls.

Brexit’s fault, so say the Guardian:

https://www.theguardian.com/business/2018/oct/11/brexit-uncertainty-taking-toll-property-market-rics-research

...which is good, because it will become a self-fulfilling downward spiral. Hopefully.

Edited by neon tetra

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2 hours ago, neon tetra said:

I would have despaired if this had still remained positive after all of the negative stories. This is a leading indicator, so fingers crossed this will transform into some falls.

Brexit’s fault, so say the Guardian:

https://www.theguardian.com/business/2018/oct/11/brexit-uncertainty-taking-toll-property-market-rics-research

...which is good, because it will become a self-fulfilling downward spiral. Hopefully.

Apparently Brexit is having no impact in the north where prices are still rising. Which suggests it has little to do with Brexit and more to do with the crazy insane prices in London and the south east which fewer people are now willing to buy at. When houses in a dump like Dagenham are now going for over half a million quid you know we have reached peak insanity.

Edited by MARTINX9

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I like looking at the charts in the report... The monthly figure always worse than the 3 month figure. Things deffo getting worse. Bring on the spring 😀 Maybe this will be my final winter in rented houses!!

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11 minutes ago, Sausage said:

I like looking at the charts in the report... The monthly figure always worse than the 3 month figure. Things deffo getting worse. Bring on the spring 😀 Maybe this will be my final winter in rented houses!!

Maybe wait another five years?

Seriously, house prices are just starting to fall. The 1990 crash took around 8 years to bottom out.  It is better to watch prices fall while renting than it is to watch them fall while paying a 95% LTV mortgage. 

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House prices and stock markets seem to be falling worldwide. Following the feds ir rises.

Edited by Si1

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2 hours ago, ingermany said:

Maybe wait another five years?

Seriously, house prices are just starting to fall. The 1990 crash took around 8 years to bottom out.  It is better to watch prices fall while renting than it is to watch them fall while paying a 95% LTV mortgage. 

The finance equation is: cost of rent < interest cost + capital depreciation + freehold maintenance costs

After a lot other parameters come into play

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Excellent news. That page on the Guardian makes excellent bear food - look at the eight "more on this story" links / thumbnails at the bottom of the page -  5 of which are very negative regarding HPI.

Quote

It said the downward pressure on prices in London had spread out of the capital, and that “the already negative readings for the south-east and East Anglia deteriorated a little further in September”.

Ripple effect, anyone? Looks like it's playing out much like it did last time..

Edited by ftb_fml

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2 minutes ago, ftb_fml said:

Excellent news.

Ripple effect, anyone? Looks like it's playing out much like it did last time..

Yep, but just not fast enough for my liking

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To be fair, having read all of the sales comments Carney really has got them rattled over Brexit.

God bless his forward guidance 😄

Edited by Lavalas

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Just now, Lavalas said:

To be fair, having read all of the sales comments Carney really has got them rattled. 

God bless his forward guidance 😄

It would be stupid if he becomes “officially” the guy who crashed the market...

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2 minutes ago, Burbujista said:

It would be stupid if he becomes “officially” the guy who crashed the market...

That's what he's paid for.

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3 hours ago, ingermany said:

Maybe wait another five years?

Seriously, house prices are just starting to fall. The 1990 crash took around 8 years to bottom out.  It is better to watch prices fall while renting than it is to watch them fall while paying a 95% LTV mortgage

Yes that's true,  but almost all of the financial advantage of renting was realised in 90-93 so you may as well have re-entered the property market in 93 when the the balance was swinging at an accelerating rate back towards ownership, been able to decorate, modify, repair, etc. and be already invested at the start of the bull run double bubble through to 2016/17.
2023 looking a good year to buy.  Sadly we will be buying in 2019 or early 2020 due to my being the only rationale person in the family wrt property, but at least the froth is blowing off already..

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5 hours ago, Sausage said:

I like looking at the charts in the report... The monthly figure always worse than the 3 month figure. Things deffo getting worse. Bring on the spring 😀 Maybe this will be my final winter in rented houses!!

God, do I feel that exact same sentiment

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1 hour ago, Si1 said:

That's what he's paid for.

I don’t see that in his mandate that is given by the treasury... He is not to blame for the crash, he is to blame for the boom!

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9 minutes ago, Burbujista said:

I don’t see that in his mandate that is given by the treasury... He is not to blame for the crash, he is to blame for the boom!

What tosh!  If I printed like Feck, and kept paddles on the chest, I too could produce a boom, or at least a corpse that moved a bit.

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56 minutes ago, Freezer? Best place for it said:

What tosh!  If I printed like Feck, and kept paddles on the chest, I too could produce a boom, or at least a corpse that moved a bit.

I don’t see any difference between your opinion and mine. Artificial booms are a bad thing and he should be blamed for this.

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1 hour ago, Burbujista said:

I don’t see that in his mandate that is given by the treasury... He is not to blame for the crash, he is to blame for the boom!

Because everyone's job matches exactly their contract...

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18 minutes ago, Si1 said:

Because everyone's job matches exactly their contract...

Let’s remark the fact that I said “officially” in my first message.

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5 minutes ago, Burbujista said:

Let’s remark the fact that I said “officially” in my first message.

Ah :)

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6 minutes ago, Freezer? Best place for it said:

There has been no boom - only an increase in the cost of equities, and mass misery.  I would like to see him charged, for he done more harm than Adolf Hitler.

 

 

No boom? The bond market, real estate market, art market, classic car market, crypto market and equity markets disagree with your statement. Booms don’t necessarily mean prosperity for all... sadly.

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The London quotes are universally negative, including this gem:

 

'J.J.KING, FRICS, Wimbledon, Andrew Scott Robertson, 020 8971 6780, www.as-r.co.uk, jking@as-r.co.uk - Applicant registrations has slowed. However greater positivity is coming from vendors leading to more offers/ sales being agreed.'

Positivity = willing to drop prices I guess. Never heard it called that before.

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5 hours ago, hotblack42 said:

Yes that's true,  but almost all of the financial advantage of renting was realised in 90-93 so you may as well have re-entered the property market in 93 when the the balance was swinging at an accelerating rate back towards ownership, been able to decorate, modify, repair, etc. and be already invested at the start of the bull run double bubble through to 2016/17.
2023 looking a good year to buy.  Sadly we will be buying in 2019 or early 2020 due to my being the only rationale person in the family wrt property, but at least the froth is blowing off already..

In 10 years of ownership my 60k mortgage cost 300 to 600 per month in interest. After 10 years I owed 10k more than the purchase price. In today's context that means paying £1500 to £3000 a month in INTEREST...to live in a small 3BR house...for 10 years after which you discover your house is worth  £50,000 less than you paid for it and there are points during the 10 years of ownership when you could have bought it for £100,000 less than you actually paid. Will that scenario be repeated for today's FTBs? Maybe not, but never dismis the possibility. 

Edited by ingermany

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2 hours ago, Burbujista said:

No boom? 

There has been no boom in wages vs. the cost of living  - a good indicator.  The markets you mention are not true “Equities”, for I incorrectly and too loosely used the phrase - I just mean something tangible.  The markets you mention are unlikely to be of use to the voting Public, and the Tories will be ‘rewarded’.

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