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One in Seven U.K. Homes Are Selling in a Week Since Tax Cut


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No house sells in a week.

These are hosues where  an EA has put a Sold TBC sign on.

Theyll sit their for weeks, like the one a few doors up for me, until all parties admit the sale has failed.

 

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2 hours ago, spyguy said:

No house sells in a week.

These are hosues where  an EA has put a Sold TBC sign on.

Theyll sit their for weeks, like the one a few doors up for me, until all parties admit the sale has failed.

 

+1  STC means nothing. Some EA's will even take offers on a house marked STC. With those that don't, I find a note through the letterbox offering asking +5% often gets some interesting calls.

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I'll repeat another anecdotal. I know people buying in the 900-1.1mil range in London. They've been told they're bottom of the list for viewings until they list their flat, and ideally have an offer. They saw a place on Tuesday, were going to offer Thur, it went Wed full asking. 

Cheeky offers are not happening. Flat on my road went instantly. 2 bed with a garden, full asking 700k.

It's a hot market for some things (NOT high rises with cladding). Gardens are adding tonnes of perceived value.

Wait until winter comes and the joys of being outside become less apparent.

PS House near me came up again (end terrace) after going under in summer. Knocked 100k off and it's gone in a couple of days again. Needs full refurb and I'd estimate 200k + for the work.

Edited by PeanutButter
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6 minutes ago, PeanutButter said:

I'll repeat another anecdotal. I know people buying in the 900-1.1mil range in London. They've been told they're bottom of the list for viewings until they list their flat, and ideally have an offer. They saw a place on Tuesday, were going to offer Thur, it went Wed full asking. 

Cheeky offers are not happening. Flat on my road went instantly. 2 bed with a garden, full asking 700k.

It's a hot market for some things (NOT high rises with cladding). Gardens are adding tonnes of perceived value.

Wait until winter comes and the joys of being outside become less apparent.

PS House near me came up again (end terrace) after going under in summer. Knocked 100k off and it's gone in a couple of days again. Needs full refurb and I'd estimate 200k + for the work.

Id strongly agree with the bottom of the chain - Noway would I enter into a sale with someone who hadnt bothered putting their house up for sale.

Its not a hot market, at least for purchaes needing a mortgage.- Banks are pulling mortgages.

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4 minutes ago, spyguy said:

Id strongly agree with the bottom of the chain - Noway would I enter into a sale with someone who hadnt bothered putting their house up for sale.

Its not a hot market, at least for purchaes needing a mortgage.- Banks are pulling mortgages.

You keep stating everyone's lying, banks arnt lending etc. 

Yet in the real world, approvals in July were back up to pre cv levels. August looks likely to be more again. 

 

https://tradingeconomics.com/united-kingdom/mortgage-approvals#:~:text=Mortgage Approvals in the United,Thousand in May of 2020.

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Quote

Blimey! Both @NatWest_Help and @Barclays have CUT mortgage income multiples - for Barclays from 5.5x to 4.45x income. SIGNIFICANT impact for current and future deals & another sign that the mortgage market is toughening.

https://twitter.com/HenryPryor

 

https://twitter.com/HenryPryor/status/1301804366857408512

 

 

 

Edited by Saving For a Space Ship
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6 hours ago, Orb said:

These aren't sales! These are newborn tragedies!

I do not see a person buying a home as a tragedy personally

 

3 hours ago, qejunkie said:

Good homes always sell. 

Yes

3 hours ago, spyguy said:

Theyll sit their for weeks, like the one a few doors up for me, until all parties admit the sale has failed.

 

So every sale that is agreed will fall through - ok then :)

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1 hour ago, captainb said:

You keep stating everyone's lying, banks arnt lending etc. 

Yet in the real world, approvals in July were back up to pre cv levels. August looks likely to be more again. 

 

https://tradingeconomics.com/united-kingdom/mortgage-approvals#:~:text=Mortgage Approvals in the United,Thousand in May of 2020.

Approvals for August inc April, May, June and July.

 

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4 hours ago, spyguy said:

No house sells in a week.

These are hosues where  an EA has put a Sold TBC sign on.

Theyll sit their for weeks, like the one a few doors up for me, until all parties admit the sale has failed.

 

The ones I've seen have all gone through, just saying.

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15 minutes ago, TheCountOfNowhere said:

6 in 7 homes aren't selling and are now dropping their asking prices.

That's the reality.

UKPL septermber index out later today, lets see what it says about CURRENT ASKING PRICES

Will be interesting to see 100% of the available listings with price reductions which i think is what you're saying?

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41 minutes ago, winkie said:

Not even worth viewing until have a confirmed buyer for own....finance in order and have committed to a survey......for most nothing is for sale or worth looking at until theirs sold.;)

 Agreed, i have a friend who wanted to get around early to view a run down farmhouse on a great plot.... a rare thing around here. Wouldn't put his on until he saw something.... Got zero fricking chance. 

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1 hour ago, PeanutButter said:

I'll repeat another anecdotal. I know people buying in the 900-1.1mil range in London. They've been told they're bottom of the list for viewings until they list their flat, and ideally have an offer. They saw a place on Tuesday, were going to offer Thur, it went Wed full asking. 

Cheeky offers are not happening. Flat on my road went instantly. 2 bed with a garden, full asking 700k.

It's a hot market for some things (NOT high rises with cladding). Gardens are adding tonnes of perceived value.

Wait until winter comes and the joys of being outside become less apparent.

PS House near me came up again (end terrace) after going under in summer. Knocked 100k off and it's gone in a couple of days again. Needs full refurb and I'd estimate 200k + for the work.

Confirmed... saw a place that needed work..put in a low offer anyway just incase...knowing that it would be snapped up. I think people will change their tune once the US market tanks & things get serious in the next year or so

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  • 416 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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