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Property expert on radio this morning, acknowledged that there had been a very slight drop in prices since beginning of the year, quoted Halifax and Nationwide indexes as evidence.

Then went on unchallenged to full on bull mode, stamp duty holiday, prices only going one way, unprecedented activity in office and online..blah blah blah. Zero challenge from interviewer, zero mention of the unprecedented economic situation or the pandemic.

Oh this expert, yep a London EA. Boils my piss that these get free airtime to spout their shite completely unchallenged.

Rant over.

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Just now, Smiley George said:

Then went on unchallenged to full on bull mode, stamp duty holiday, prices only going one way, unprecedented activity in office and online..blah blah blah. Zero challenge from interviewer, zero mention of the unprecedented economic situation or the pandemic.

The average person is god awful at assessing risk, so for now (whilst furlough scheme is in place) this will simply act as confirmation bias.

I still don't see how they're going to overcome the wave of unemployment by the year end, though.  Not without taking some very extreme measures at least (which in itself, would potentially set off many alarm bells).

4 minutes ago, Smiley George said:

Oh this expert, yep a London EA. Boils my piss that these get free airtime to spout their shite completely unchallenged.

If anything it shows how panic'd the VIs (including LBC) are.  Lovely stuff.

Thanks for sharing mind.

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18 minutes ago, Smiley George said:

Property expert on radio this morning, acknowledged that there had been a very slight drop in prices since beginning of the year, quoted Halifax and Nationwide indexes as evidence.

Then went on unchallenged to full on bull mode, stamp duty holiday, prices only going one way, unprecedented activity in office and online..blah blah blah. Zero challenge from interviewer, zero mention of the unprecedented economic situation or the pandemic.

Oh this expert, yep a London EA. Boils my piss that these get free airtime to spout their shite completely unchallenged.

Rant over.

I heard this too!

I could not believe the ramping this guy was able to get away with. As you say, without even a mention of the ecomonic problems we currently have from him or the presenter.

I noted how this estate agent was dismissive about these recent negative Halifax/Nationwide figures, by saying they were not important. Obviously he would say this, as they have just showed prices going down. I seem to recall estate agents were not so dismissive over their figures when the prices were going up! 

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24 minutes ago, moonriver said:

could not believe the ramping this guy was able to get away with. As you say, without even a mention of the ecomonic problems we currently have from him or the presenter.

Presenter was Andrew Castle, ex tennis player, probably explains lack of journalistic integrity.

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7 minutes ago, Smiley George said:

Presenter was Andrew Castle, ex tennis player, probably explains lack of journalistic integrity.

yes indeed.

I remember back early in the year, he was downplaying covid and then when he came back from his hols later, he had to apologise for downplaying the disease and how it would affect the UK.

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They can spin it how they like.

Lockdown and furlough are going to be the most expensive and destructive actions ever taken short of war.

Furloughed folk and those working from home have a false sense of security and have now moved to the position where administrators can terminate them with little agro a zoom call and letter and done.

The empty high streets are now full of units with either zombie or about to void/cva tenants.  These units are owned by pension funds/investors and often underpin loans made upon them.

It is going to be a bloodbath.

Companies may well limp along with folk working from home but the networking, competition, ideas that come from meeting up for some will corrode things over time.

For example I have a firm of solicitors I use they have a lovely office, cost quite a lot as does their services etc and when I use them I get to feel professional/pampered and the other side think ooh they are a big outfit this guy is serious etc etc.  Maybe it's a phallic thing but there is a reason why companies have skyscrapers and shiny offices outside pure efficiency.

They are now working from home... its just not as impressive, feels crap and commoditised not premium.

Not to mention the cleaners, maintenance, dry cleaners and cafes near the offices
 

Edited by Fromage Frais
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The academic record required to be a property expert is pretty low. So I'm not surprised. That said it seems pretty lively the property market. The house opposite my parents has had many viewings and this is a just sub 1/2 million house in Dorset. A few have sold near me and the BTL market seems to have been reinvigorated by the stamp duty cut.

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1 hour ago, Pebbles said:

The academic record required to be a property expert is pretty low. So I'm not surprised. That said it seems pretty lively the property market. The house opposite my parents has had many viewings and this is a just sub 1/2 million house in Dorset. A few have sold near me and the BTL market seems to have been reinvigorated by the stamp duty cut.

Sounds fair

Bull trap

Imho

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4 hours ago, Fromage Frais said:

They can spin it how they like.

Lockdown and furlough are going to be the most expensive and destructive actions ever taken short of war.

Furloughed folk and those working from home have a false sense of security and have now moved to the position where administrators can terminate them with little agro a zoom call and letter and done.

The empty high streets are now full of units with either zombie or about to void/cva tenants.  These units are owned by pension funds/investors and often underpin loans made upon them.

It is going to be a bloodbath.

Companies may well limp along with folk working from home but the networking, competition, ideas that come from meeting up for some will corrode things over time.

For example I have a firm of solicitors I use they have a lovely office, cost quite a lot as does their services etc and when I use them I get to feel professional/pampered and the other side think ooh they are a big outfit this guy is serious etc etc.  Maybe it's a phallic thing but there is a reason why companies have skyscrapers and shiny offices outside pure efficiency.

They are now working from home... its just not as impressive, feels crap and commoditised not premium.

Not to mention the cleaners, maintenance, dry cleaners and cafes near the offices
 

interesting post.

If for example, I wanted a cheap conveyancer, I noticed the online conveyancer companies were a lot cheaper than a standard solicitor (with office) coveyancer.

So why would anyone pay the extra for a solictor/conveyancer now, that works from home? I think these types will have to lower their fees to what they were used to.

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45 minutes ago, moonriver said:

interesting post.

If for example, I wanted a cheap conveyancer, I noticed the online conveyancer companies were a lot cheaper than a standard solicitor (with office) coveyancer.

So why would anyone pay the extra for a solictor/conveyancer now, that works from home? I think these types will have to lower their fees to what they were used to.

Indeed, I used an online conveyancer last time and they were very good. Quick, efficient, and everything laid out in front of you. Much better than letters flying back and fourth and endless phone calls.

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7 hours ago, Pebbles said:

The academic record required to be a property expert is pretty low. So I'm not surprised. That said it seems pretty lively the property market. The house opposite my parents has had many viewings and this is a just sub 1/2 million house in Dorset. A few have sold near me and the BTL market seems to have been reinvigorated by the stamp duty cut.

Indeed I am seeing the same. Near me houses in decent areas with prices higher than ever are going very quickly, with loads viewing, hard to believe but there it is. Whether they all eventually complete I obviously don't know but many people seem confident of their employment/financial position. 

Edited by petetong
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On 11/07/2020 at 21:07, petetong said:

Indeed I am seeing the same. Near me houses in decent areas with prices higher than ever are going very quickly, with loads viewing, hard to believe but there it is. Whether they all eventually complete I obviously don't know but many people seem confident of their employment/financial position. 

One of the perverse drivers of demand right now is people buying ahead of redundancy, pay cuts, bonus cuts etc on pre-existing mortgage deals. Also buyers might have adjusted. Just because you see a house go for £700k that looks fully priced, maybe the buyer was in the market at £1m pre covid and they have traded own. Lots of strange things going on. Total bull trap.  

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On 11/07/2020 at 11:58, Smiley George said:

Presenter was Andrew Castle, ex tennis player, probably explains lack of journalistic integrity.

Complete Burk - Andrew Castle. One tennis ball short of a tube. Argues against himself in the same sentence. He just wants to play tennis always saying I am off to play so and so. Bemoans the fact his daughters can't get on the property ladder frequently then doesn't critique this  - in truth he has done ok for a sports jock - he must get the listeners

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58 minutes ago, GregBowman said:

Complete Burk - Andrew Castle. One tennis ball short of a tube. Argues against himself in the same sentence. He just wants to play tennis always saying I am off to play so and so. Bemoans the fact his daughters can't get on the property ladder frequently then doesn't critique this  - in truth he has done ok for a sports jock - he must get the listeners

He is also a supposed tennis expert and does the BBC commentary for the WImbldon final even though he only covers the sport for two weeks during WImbledon and possibly Queens each year so really isn't up to speed on the players, what they have done in the previous 48 weeks or what is going on in the sport generally.

All this because he got to the third round of the US open in 1987 and nearly once beat Mats Wilander - over 30 years ago!

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... which reminds me of my favourite tennis anecdote:

Jimmy Connors beat Vitus Gerulaitus 16 times in a row. VG won the 17th match.

In the post-match i/v VG says : "Nobody beats Vitus Gerulaitus 17 times in a row!"

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All I am hearing at the moment is that Londoners want space and will buy all the overpriced crap here in Norfolk....and to be fair a number of overpriced family homes have gone SSTC.

However my belief is that if this is a true trend then it kills its self off.

  1. If you had unlimited money and loved Norfolk you would have already had a house....the best ones are mostly owned by southerners already and are priced as such.
  2. if you do not have unlimited money then you will need to sell your SE property.....  If everyone is thinking the same as you are the prices not going to fall?  Which means you will struggle to pay more than you could have done when people did not want to escape?

As posted by others feels like a bull trap andI stand by the adage Norfolk falls last but falls furthest.  

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Sussex is the same. Estate agents and sellers are very bullish. I have seen lots of houses go SSTC, at the same time not many properties are coming on the market. It feels a bit surreal. However, it is not sustainable unless there Are tens of thousands of Londoners with vast gobloads of cash Desperate live in bumf%ckville. We will see. Making my last offers, then hibernating till winter...it is coming!

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  • 417 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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