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If prices go up from here with the whole planet running around like headless chickens then you've got to laugh, especially with the NationFax indices that will be due late this month/early next month so the effects of toilet roll skirmishes etc will be fully embedded 

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What period does this cover? Feb, or mid-Feb to mid-March?

Price expectations should be falling, but this probably really got going over the last week or so. If it doesn't show up in this months data, I reckon it will next month.

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9 hours ago, Kosmin said:

What period does this cover? Feb, or mid-Feb to mid-March?

Price expectations should be falling, but this probably really got going over the last week or so. If it doesn't show up in this months data, I reckon it will next month.

Yes

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"Buyer boom sets scene for new price records this spring" - +0.8% MoM.

A sickeningly "optimistic" piece stating rocketing new buyer interest and growth in sales as a prelude to the spring bounce; I guess driven by the "pent up buyer demand" they suggest and mis-placed Brexit-decision-driven sentiment piled on top of the usual growth in activity that's anticipated this year.

While none of this bodes well in itself, I love their disgustingly chirpy optimism against the background of the unfolding global pandemic of unprecidented proportion in living memory - who in their right mind is going to consider buying a house now when most are second-guessing every requirement to go outside / engage with others..?

Personally I think that while CV will most likely kill housing turnover dead in its tracks until its passed through our population (a process slated to take anything up to 12 months according to the Gov. document found by the Guardian); at which point I expect the economy to have been decimated with a corresponding effect on house prices (props not withstanding).

This and Brexit appear to be the perfect storm for finally kicking the stool out from beneath our zombie economy; although I doubt RM asking price data will really reflect any change for a good few months as I suspect most sellers will either pull their properties and leave them on at their original asking, while those considering selling will hold off until it's all over.   

It'll be interesting to see what sickly saccharine agenda-driven bullsh*t they manange to pull out of the bag next month when the virus really has the country in a stranglehold..

Edited by ftb_fml
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5 minutes ago, ftb_fml said:

).

This and Brexit appear to be the perfect storm for finally kicking the stool out from beneath our zombie economy; although I doubt RM asking price data will really reflect any change for a good few months as I suspect most sellers will either pull their properties and leave them on at their original asking, while those considering selling will hold off until it's all over.   

Then when it isn't all over they'll panic sell into a deep bottom

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3 minutes ago, Si1 said:

Then when it isn't all over they'll panic sell into a deep bottom

Hopefully; although as usual I suspect what will really happen is anyone's guess as the market seems incredibly, stubbornly resileant in the face of the ever-growing myriad reasons why it deserves to crater..

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At this point let's just go for it, a million pound asking price for a studio flat in Dagenham when the typical London full time worker takes home a 4 digit number starting with a 1 or 2 each month, why not.

Edited by Dorkins
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53 minutes ago, ftb_fml said:

"Buyer boom sets scene for new price records this spring" - +0.8% MoM.

A sickeningly "optimistic" piece stating rocketing new buyer interest and growth in sales as a prelude to the spring bounce; I guess driven by the "pent up buyer demand" they suggest and mis-placed Brexit-decision-driven sentiment piled on top of the usual growth in activity that's anticipated this year.

While none of this bodes well in itself, I love their disgustingly chirpy optimism against the background of the unfolding global pandemic of unprecidented proportion in living memory - who in their right mind is going to consider buying a house now when most are second-guessing every requirement to go outside / engage with others..?

Personally I think that while CV will most likely kill housing turnover dead in its tracks until its passed through our population (a process slated to take anything up to 12 months according to the Gov. document found by the Guardian); at which point I expect the economy to have been decimated with a corresponding effect on house prices (props not withstanding).

This and Brexit appear to be the perfect storm for finally kicking the stool out from beneath our zombie economy; although I doubt RM asking price data will really reflect any change for a good few months as I suspect most sellers will either pull their properties and leave them on at their original asking, while those considering selling will hold off until it's all over.   

It'll be interesting to see what sickly saccharine agenda-driven bullsh*t they manange to pull out of the bag next month when the virus really has the country in a stranglehold..

If I didn't know better I would think that was a parody article, and actually quite a good one as it had me chuckling throughout.

When you realise what they're commenting on is an index based on what the average brit and cohorts of "expert" Estate Agent's "thinks" a house is "worth" - it's just nonsense.

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1 minute ago, Smiley George said:

If I didn't know better I would think that was a parody article, and actually quite a good one as it had me chuckling throughout.

When you realise what they're commenting on is an index based on what the average brit and cohorts of "expert" Estate Agent's "thinks" a house is "worth" - it's just nonsense.

Indeed - it's such a beautiful contrast between the greater-than-usual foaming-at-the-mouth VI "optimism" of their thinly-veiled marketing tool and the grim reality of what's unfolding around the country / what the market likely has in store over the coming months.. 

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20 minutes ago, ftb_fml said:

Indeed - it's such a beautiful contrast between the greater-than-usual foaming-at-the-mouth VI "optimism" of their thinly-veiled marketing tool and the grim reality of what's unfolding around the country / what the market likely has in store over the coming months.. 

Reminds me of the days of this guy.

 

3ss4tj.jpg

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28 minutes ago, stuckmojo said:

This will be looked at as the most optimistic press release of all times. 

 

* unless there's a huge surge in inflation and then all bets are off. 

But isn't that the point. We can all post here about how right we were before in 2008/09 when the whole thing was exposed and should have come crashing down.

But that does me no good when reality shows me my "idiot" friends who bought in 2004-2007 are all sitting far prettier than I am with their tracker mortgages paying peanuts each month in houses I can no longer afford. I now own a smaller home than these friends who earn (quite significantly) less than I do, just because of the space of about 8 years of choosing not to buy.

In a sensible world, the person on the same (real terms) salary would be able to afford the same type of house no matter when you buy, so delaying buying should just be a lifestyle choice, not a financial gamble that leaves you worse off for life. But this isn't a sensible world. It is a rigged game. I was the sucker last time. 

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23 minutes ago, dugsbody said:

But isn't that the point. We can all post here about how right we were before in 2008/09 when the whole thing was exposed and should have come crashing down.

But that does me no good when reality shows me my "idiot" friends who bought in 2004-2007 are all sitting far prettier than I am with their tracker mortgages paying peanuts each month in houses I can no longer afford. I now own a smaller home than these friends who earn (quite significantly) less than I do, just because of the space of about 8 years of choosing not to buy.

In a sensible world, the person on the same (real terms) salary would be able to afford the same type of house no matter when you buy, so delaying buying should just be a lifestyle choice, not a financial gamble that leaves you worse off for life. But this isn't a sensible world. It is a rigged game. I was the sucker last time. 

Anyone who bought after 2002 has been a sucker - willingly or not. 

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Just now, stuckmojo said:

Anyone who bought after 2002 has been a sucker - willingly or not. 

How so ? 4 bed detached house in South Herts probably £2500 a month lets say £2000 - I would of paid £432,000 in rent nearly half a million over that period plus fees, uncertainty etc

Interested in why owning makes me a sucker

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2 hours ago, Dorkins said:

At this point let's just go for it, a million pound asking price for a studio flat in Dagenham when the typical London full time worker takes home a 4 digit number starting with a 1 or 2 each month, why not.

last month i spoke to an agency and i quote "locality living costs have no relevance to the salary stated its based on skill set" was what i was told. 

 

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1 minute ago, longgone said:

last month i spoke to an agency and i quote "locality living costs have no relevance to the salary stated its based on skill set" was what i was told. 

 

I guess the answer to that is "locality living costs are relevant to the salary I will agree to work for".

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1 minute ago, longgone said:

last month i spoke to an agency and i quote "locality living costs have no relevance to the salary stated its based on skill set" was what i was told. 

 

Jesus.

Extreme liar or cretin.

Ive be running into orgs where recruits have turned down jobs due o housing costs sicne 2002ish.

In simple terms - if you need a high skill ste (and these tend to be software now) to move to an area with high housing costs then the salary will be a factor of both skills, demand and living costs.

Typically, for a senior/skilled people you need to be looking at 3 bedroom detached house / 3 or 4 as a starting salary.

 

The simple response to the agents is - Are they having recruitment problems?

 

 

 

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1 minute ago, Dorkins said:

I guess the answer to that is "locality living costs are relevant to the salary I will agree to work for".

indeed all gets rather boring not working mind.  

i have only recently found out there are workers on 60-80k a year in London living in house shares LOL. 

at what point does everyone just hang up their tools and say phuck this we are living in a very strange world there should be anger everywhere. 

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  • 415 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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