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I've not been out much since the Wuhan flu hit but I've been to Bath and somerset last 3 days.

I kid you not, every house I've driven/walked past that is up for sale, has sold.

100s and 100s of houses, I did a lot of driving !!!

I looked on RM and the prices are 20x local average wages for average looking houses.

You need to be rich to buy a s**t hole.

In all my time looking at houses I have never seem such a strong market, it is property insane.

As someone said on another thread...biggest GDP drop in 300 years, global pandemic, job losses etc you expect the market to be collapsed and then some.

WTF is going on !!!!

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I totally agree.

Where is the money coming from.  Foreign investors?

I cannot see a substantial HPC unless new build supply, outstrips demand and I don't think that will happen anytime soon.

 

 

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I totally agree.

Where is the money coming from.  Foreign investors?

I cannot see a substantial HPC unless new build supply, outstrips demand and I don't think that will happen anytime soon.

 

 

Straight from the BoE maybe ?  Sham companies, buying up everything with magicked up cash ?

Friend down that way tells me their colleague at work sold their house in bristol in 4 hours, with 11 viewings, 4 bids and 10% over asking accepted.

Given what we are seeing economically that makes ZERO SENSE.

 

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Friend down that way tells me their colleague at work sold their house in bristol in 4 hours, with 11 viewings, 4 bids and 10% over asking accepted.

Given what we are seeing economically that makes ZERO SENSE.

Well, unless they went in with a very low asking price, which isn't likely....

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The boom is over on south east London at least. About 1/4 of houses that went sstc have come back right in the middle of October when nobody is buying (including my own).

London's definitely gone.  If IRs are forced up even a little a full blown 70% collapse will happen.

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It is amazing what people can afford if they are not spending their money on coffee, beer and fashion...

Seriously though, I know lots of people want to move out of the cities, but who is buying the properties they are leaving behind?

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They've all been on Furlough and spending less.

Plus they think that they will be bailed out...why wouldnt they?

As I have stated previously the phony war is over...its May 1940 now.

We are invading Poland now? 

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living really rural is pretty gash, pain doing shopping, bit grim in the winter.

living in cities especially centrally is pretty gash, little greenery, poor attitudes, crime etc.

although it has been demonized, suburbia on the outskirts on the edge of cities is pretty perfect, plenty of greenery and 5 minutes to several decent shops

i always feel than people had a lot right in the 1930's and its taken one whole generation to forget everything they had right, and now we are slowly coming to the same conclusions 

i think its a symptom of the boomer generation deliberately doing the opposite of their parents generation (like most generations), however that's no good if the previous generation more or less had it all figured out

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It is amazing what people can afford if they are not spending their money on coffee, beer and fashion...

Seriously though, I know lots of people want to move out of the cities, but who is buying the properties they are leaving behind?

A London deposit buys a significant proportion of a house elsewhere.

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living really rural is pretty gash, pain doing shopping, bit grim in the winter.

living in cities especially centrally is pretty gash, little greenery, poor attitudes, crime etc.

although it has been demonized, suburbia on the outskirts on the edge of cities is pretty perfect, plenty of greenery and 5 minutes to several decent shops

i always feel than people had a lot right in the 1930's and its taken one whole generation to forget everything they had right, and now we are slowly coming to the same conclusions 

i think its a symptom of the boomer generation deliberately doing the opposite of their parents generation (like most generations), however that's no good if the previous generation more or less had it all figured out

Agreed, although living in a semi rural area at present, I have always rated the suburbs as the palce to be.

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I've not been out much since the Wuhan flu hit but I've been to Bath and somerset last 3 days.

I kid you not, every house I've driven/walked past that is up for sale, has sold.

100s and 100s of houses, I did a lot of driving !!!

I looked on RM and the prices are 20x local average wages for average looking houses.

You need to be rich to buy a s**t hole.

In all my time looking at houses I have never seem such a strong market, it is property insane.

As someone said on another thread...biggest GDP drop in 300 years, global pandemic, job losses etc you expect the market to be collapsed and then some.

WTF is going on !!!!

Mark yourself down as a troll. 😆

Its the last bit of froth in the ridiculous love affair is the only tangible asset worth buying. Happens every time...people run to property then the slow burn starts. 

They can’t keep printing money...yes they can.

They can’t lower rates to negative...yep, they can  

They can’t get rid of stamp duty...yes they can. 

They can’t steal from the young people’s pensions to fund the house bubble...yep, they can try  

They can maintain this sentiment....ah, that’s the saving grace. People don’t know all the above they follow the flock. Sentiment can change like the weather. 

Have faith, next year my friend, next year. 😉

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although it has been demonized, suburbia on the outskirts on the edge of cities is pretty perfect, plenty of greenery and 5 minutes to several decent shops
 

?? We call the "Villages".  On a summers Sunday i have to strain in my garden to hear road trafffic, Our Village has a great pub, but no shops. But a mile as the crow flies, under 2 miles by car, is our Local Aldi.

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Yes apparently the stamp duty was frozen and all the masses are thinking they have to stop whatever it is that they are doing and sell their house and buy their "forever" home before the stamp duty holiday ends. They are prepared to pay 150k more for a house to save 20k in stamp duty 🥺

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Mark yourself down as a troll. 😆

Its the last bit of froth in the ridiculous love affair is the only tangible asset worth buying. Happens every time...people run to property then the slow burn starts. 

They can’t keep printing money...yes they can.

They can’t lower rates to negative...yep, they can  

They can’t get rid of stamp duty...yes they can. 

They can’t steal from the young people’s pensions to fund the house bubble...yep, they can try  

They can maintain this sentiment....ah, that’s the saving grace. People don’t know all the above they follow the flock. Sentiment can change like the weather. 

Have faith, next year my friend, next year. 😉

I do sound like the trolls but I really just reporting what I am seeing.  It's total and utter insanity.

Could be driven by the stamp duty cut but that means we will see a dark hole some time after January as people realise they are too late to take advantage.

If I hadn't witnessed the madness of this house price mania I'd never have believed how detached from reality people can be.

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A London deposit buys a significant proportion of a house elsewhere.

At London prices.

The london buyers ( of which there are now few ) are hell bent on paying London prices miles form London :lol: :lol: :lol: :lol: 

Who do they think they'll sell to, more london buyers ?

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I've not been out much since the Wuhan flu hit but I've been to Bath and somerset last 3 days.

I kid you not, every house I've driven/walked past that is up for sale, has sold.

100s and 100s of houses, I did a lot of driving !!!

I looked on RM and the prices are 20x local average wages for average looking houses.

You need to be rich to buy a s**t hole.

In all my time looking at houses I have never seem such a strong market, it is property insane.

As someone said on another thread...biggest GDP drop in 300 years, global pandemic, job losses etc you expect the market to be collapsed and then some.

WTF is going on !!!!

Jesus wept... it's NOT flu. There is no such disease as "Wuhan Flu".

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At London prices.

The london buyers ( of which there are now few ) are hell bent on paying London prices miles form London :lol: :lol: :lol: :lol: 

Who do they think they'll sell to, more london buyers ?

That is a really good point. The pyramid dies  

I live in a town favoured by the Southern luvvies for many years and we definitely have a two tier market. Probably more than 2 tiers but the point is that we have a ‘let’s see if a daft Londoner wants this’ property and it’s marketed by Knight Frank or Carter Jonas. Undoubtedly Victorian but maybe more modern with Park Views and quite literally 70/80% over market value comparisons....but very individual and immaculately renovated ie £200k spent on doing it up. 

More often than not, 12 months after being purchased by the newly adopted northerners, another £200k refurb to the latest farrow and ball colours plus a new bespoke kitchen and couple of bathrooms. 

These guys are funny because when they come to sell it goes on with Knight Frank or Carter J and sits empty for a couple of years. This time they NEED a Londoner whereas previously the developer just hoped for one. 

Probably 60% success rate for selling on....to be fair these specialist EAs attract the right sort....but the other 40% are sold at a significant loss albeit still a good 10% over comparisons. 

Interesting to see how this develops. 

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It is amazing what people can afford if they are not spending their money on coffee, beer and fashion...

Seriously though, I know lots of people want to move out of the cities, but who is buying the properties they are leaving behind?

Rent em out... 

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I've not been out much since the Wuhan flu hit but I've been to Bath and somerset last 3 days.

I kid you not, every house I've driven/walked past that is up for sale, has sold.

100s and 100s of houses, I did a lot of driving !!!

I looked on RM and the prices are 20x local average wages for average looking houses.

You need to be rich to buy a s**t hole.

In all my time looking at houses I have never seem such a strong market, it is property insane.

As someone said on another thread...biggest GDP drop in 300 years, global pandemic, job losses etc you expect the market to be collapsed and then some.

WTF is going on !!!!

Time to retrain as an EA.

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  • 433 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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