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I'm expecting a flurry of new listings .... hopefully with signs of desperation: doormats moistened with tears; teeth marks on door frames; ashes from burnt photos in the garden ...

No new listings so far though.....

Anyone else seeing anything?

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Just now, Ghostly said:

I would expect them over the next week or so since EAs are only reopening this week.

Whaaaat!?!??! I've been watching rightmove and hitting refresh since 6am!!!!!! :)  :):)

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41 minutes ago, Sausage said:

I'm expecting a flurry of new listings .... hopefully with signs of desperation: doormats moistened with tears; teeth marks on door frames; ashes from burnt photos in the garden ...

No new listings so far though.....

Anyone else seeing anything?

I don't use Rightmove, I prefer Zoopla. And yes, I noticed a little flurry of houses "just added" in my target area yesterday. 

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1 hour ago, juvenal said:

A one bed flat in Tooting reduced from £450,000 to £395,000. Not sure it's worth £395k - one bed - really?

3 bed flat in Hampstead - £1.9m - who the f@ck has that sort of money for a flat?

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One new listing in my 4 'To Buy' search areas yesterday.

Randomly 3 new listings yesterday in my one 'To Let' search...one of the new listings is a few doors down from an identical house which has only been on since the 6th May, but its 25% less (£2850.00 pcm vs £3750 ppm).

Let the carnage commence.

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12 minutes ago, Warwick-Watcher said:

?

3 bed flat in Hampstead - £1.9m - who the f@ck has that sort of money for a flat?

They don't. It's borrowed.

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Depends where you're looking.

Activity has picked up significantly for me (admittedly still way below pre-crisis).

I see many reductions overall though. Not quite panic stations yet, but hopefully the first step in many London places is a realisation that peak prices have gone.

As prices fall hopefully a ripple effect occurs...suddenly that £400k house in the crap area looks less good because one in a better area has now got reduced, etc.

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4 hours ago, Sausage said:

Whaaaat!?!??! I've been watching rightmove and hitting refresh since 6am!!!!!! :)  :):)

You clearly have an over high opinion of estate agents, it takes them days to do the maybe 30mins work required to stick the photos on the website and add the routine boilerplate prose. 

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2 hours ago, Confusion of VIs said:

You clearly have an over high opinion of estate agents, it takes them days to do the maybe 30mins work required to stick the photos on the website and add the routine boilerplate prose. 

actually laughed out loud at that. thinking about it ... if they have been furloughed, how long before they can work again - is there a lead in time?

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33 minutes ago, Sausage said:

actually laughed out loud at that. thinking about it ... if they have been furloughed, how long before they can work again - is there a lead in time?

They are mainly commission based so I imagine they will be back to work at the first opportunity, whether many sales result is a different matter.  

If you are looking for forced sellers, see what was added during the lockdown when only the truly desperate would have put their house up for sale. 

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Just one new listing in my area today...first in a long time and priced as if Covid19 was just a bad B movie and not actually happening. 

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8 hours ago, Warwick-Watcher said:

A one bed flat in Tooting reduced from £450,000 to £395,000. Not sure it's worth £395k - one bed - really?

3 bed flat in Hampstead - £1.9m - who the f@ck has that sort of money for a flat?

Someone who is something in The City obviously - and certainly not a black cab driver and school teacher couple.

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Just looked at a couple of houses in Hull listed today. Asking price of one was £90k, bought for £60k in 2015, and the other was £100k, bought for £69k in 2014. So 30-35% falls needed to reverse the gains from just the last few years.  

EDIT: Another in Doncaster, asking £85k now, sold for £35k in 2017, some flipper is dreaming ?

 

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My viewing areas (Lake District (not for me, the mrs dreams though), Lytham and Arnside) have had some kiteflying action taking place this week.

It looks like some people know what is coming and are trying to bale out at peak, peak, peak prices.

https://www.rightmove.co.uk/property-for-sale/property-79440217.html

@200k more than the next most expensive sale in the street, good luck with that! Classic too big for the plot.

https://www.rightmove.co.uk/property-for-sale/property-70467840.html

2 bed? No storage. Need to be a mountain goat to get to that terrace. Last sold 2017, now on for 50k more

28/07/2017 £350,000 10 Lingmoor View, Chapel Stile, Ambleside, LA22 9JP

Fair play though, fire on, flowers in the vase, pomagne on the patio, open book by the wistful window.

Aaaaand here it is https://www.heartofthelakes.co.uk/property/langdale-valleys/annandale/2050

 

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14 minutes ago, 17clarence said:

My viewing areas (Lake District (not for me, the mrs dreams though), Lytham and Arnside) have had some kiteflying action taking place this week.

It looks like some people know what is coming and are trying to bale out at peak, peak, peak prices.

https://www.rightmove.co.uk/property-for-sale/property-79440217.html

@200k more than the next most expensive sale in the street, good luck with that! Classic too big for the plot.

https://www.rightmove.co.uk/property-for-sale/property-70467840.html

2 bed? No storage. Need to be a mountain goat to get to that terrace. Last sold 2017, now on for 50k more

28/07/2017 £350,000 10 Lingmoor View, Chapel Stile, Ambleside, LA22 9JP

Fair play though, fire on, flowers in the vase, pomagne on the patio, open book by the wistful window.

Aaaaand here it is https://www.heartofthelakes.co.uk/property/langdale-valleys/annandale/2050

 

I would think this is advanced secondary reasoning for idiots. They read there may be a 20% hpc so they're raising their asking price 20% to compensate.

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It looks like sellers are going to hold on for peak prices and hope the 20% drop just gets forgotten. 

That in turn means it's up to the lenders to decide how much to lend on 90% mortgages...ie how much of a haircut they want to take on repossession. 

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20 minutes ago, Roman Roady said:

WANTED:- Distressed sellers for the UK HPC.

Other than probate houses, we will not see significant drops until the three month holidays wear off.

https://www.mortgagesolutions.co.uk/news/2020/05/12/fca-considers-12-month-mortgage-payment-holiday-reports/

Payment holiday will be rolled over until the economy picks up which means indefinitely. Thank God the gov has the printing press...!

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On 13/05/2020 at 22:16, anonguest said:

Someone who is something in The City obviously - and certainly not a black cab driver and school teacher couple.

There was an article in the Guardian about how people in different demographics had been affected by the pandemic.  'High earner',  'middle earner',  'not so much' etc. 

Guess who represented tbe High Earners? An investment banker? Nope, a plumber.  They never told me that at school. 

Top be fair some Pimlico plumbers are making an absolute mint. Seriously,  plumbing was sold as a job you dropped out of school into when I was a kid. 

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  • 419 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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