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2 hours ago, neon tetra said:

Indeed 😀

Can't see that improving... Trend for sentiment (of EAs, sellers and buyers) and prices is down.

At times like this it feels good to be renting with a large deposit ready to pounce.

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Hats off to that old poster Columbo, he used to swear by this as the most useful tool to gauge the market overall. Looks like it was the most reliable in general looking back. 

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The only thing keeping the insane high house price levels using an old farmers  analogy is for too long the UK has been trying to feed the nation using 50 fields when it needs 100. 

When you have 100 + fields you pay a quid for a loaf of bread, when you ration people with 50 fields you pay £10 plus and you get a lot of resentment and anger, even from people that want prices of bread to stay at £10, usually they are the greedy ones profiting from it in some way.

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Original press release

https://www.rics.org/uk/news-insight/latest-news/press-releases/prices-demand-and-supply-all-in-decline-as-brexit-uncertainty-persists/

and full details

https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/uk-residential-market-survey-october-2018.pdf

Surveyor comments at the back of the report always worth a read.

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13 minutes ago, Queasing said:

and full details

https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/uk-residential-market-survey-october-2018.pdf

Surveyor comments at the back of the report always worth a read.

That link doesn't work for me. The October 2018 report can be found on the page below if anybody has the same problem:

https://www.rics.org/uk/news-insight/research/market-surveys/uk-residential-market-survey/

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Housing market, priced at 8x earnings, meet MMR mortgage market with 4.5x limit.

Look at home.co.uk asking price chart. Then compare it against the selling price chart.

 

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1 hour ago, localhero1983 said:

The only thing keeping the insane high house price levels using an old farmers  analogy is for too long the UK has been trying to feed the nation using 50 fields when it needs 100. 

When you have 100 + fields you pay a quid for a loaf of bread, when you ration people with 50 fields you pay £10 plus and you get a lot of resentment and anger, even from people that want prices of bread to stay at £10, usually they are the greedy ones profiting from it in some way.

The houses were there, but owned by BTL landlords and foreign investors. So it was the supply of homes that FTBs could afford that was lacking.

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........ well it is the people who voted for it are now the same people moaning about how their vote has made their total net worth less.....😉

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12 minutes ago, winkie said:

........ well it is the people who voted for it are now the same people moaning about how their vote has made their total net worth less.....😉

I would say that they are moaning about the way May's government are handling it.

Monumental screw-up by the Tories. Mostly Cameron's fault for using the referendum as an election tool and putting peoples backs up by getting Obama (et al) involved and then resigning. May has been a disaster too, parroting Brexit means Brexit whilst trying to engineer a Brexit in name only, the worst of all worlds. 

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57 minutes ago, Bruce Banner said:

I would say that they are moaning about the way May's government are handling it.

Monumental screw-up by the Tories. Mostly Cameron's fault for using the referendum as an election tool and putting peoples backs up by getting Obama (et al) involved and then resigning. May has been a disaster too, parroting Brexit means Brexit whilst trying to engineer a Brexit in name only, the worst of all worlds. 

Moaning about both.....everything, get the politicians we deserve, they are a split down the middle as much as the county is..... neither remain or leave is the answer, negotiation is compromise.....the best deal for the people has to be the best and only answer........and forever HPI without checks or balances is not the answer.😉

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2 hours ago, spyguy said:

Housing market, priced at 8x earnings, meet MMR mortgage market with 4.5x limit.

Look at home.co.uk asking price chart. Then compare it against the selling price chart.

 

Surely the only thing to do is to raise MMR to 50 x earnings in that case, so that more FTB can take on a massive debt mortgage to buy a slave box home 😉?

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6 hours ago, maffo in oxford said:

Hats off to that old poster Columbo, he used to swear by this as the most useful tool to gauge the market overall. Looks like it was the most reliable in general looking back. 

 

columbo.jpg

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1 hour ago, fru-gal said:

Surely the only thing to do is to raise MMR to 50 x earnings in that case, so that more FTB can take on a massive debt mortgage to buy a slave box home 😉?

Absolutely, that will sort it out....

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There are some corkers in there..

 

.."Mark Everett, FRICS, Epsom, 
Michael Everett & Company, 
markeverett@michael-everett.
co.uk - Buyers scarce and 
vendors struggling to accept 
the reality of falling prices. We 
need urgent closure to Brexit 
negotiations and a serious 
reduction in SDLT."

Edited by Beaker

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This is another one....buyers failing to recognise opportunities.😉

Jeremy Leaf, FRICS, Finchley, 
Jeremy Leaf & Co, jeremy@
jeremyleaf.co.uk - We didn’t see 
an autumn bounce in September 
or October this year although 
listings did pick up – many at 
realistic prices. However, we’re 
still finding it difficult to generate 
viewings or offers as buyers fail 
to recognise the opportunities 
so far. 

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1 hour ago, winkie said:

This is another one....buyers failing to recognise opportunities.😉

Jeremy Leaf, FRICS, Finchley, 
Jeremy Leaf & Co, jeremy@
jeremyleaf.co.uk - We didn’t see 
an autumn bounce in September 
or October this year although 
listings did pick up – many at 
realistic prices. However, we’re 
still finding it difficult to generate 
viewings or offers as buyers fail 
to recognise the opportunities 
so far. 

...stupid buyers, they need a slap!

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