Jump to content
House Price Crash Forum

Recommended Posts

  • Replies 63
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

In my opinion, the statistic still represents a lagging indicator for the transactions agreed upon in periods earlier than October. 

I have noticed a marked change in listings with few coming to market and ones already listed either staying there for good or taking long time to convert. I do not expect the govt to announce any extension to stamp duty holiday in 2020 (they may do it in early Jan/Feb 2021) and therefore, potential buyers will no longer be rushing to buy properties in anticipation of saving stamp duty (given how long it is taking to complete a transaction now). 

At the same time, I am fully convinced of this govt's ability to keep coming up with new tricks to prop up the market next year. With the talk of England going into full lockdown will weigh on the govt's mind for sure. 

Link to post
Share on other sites
 

In my opinion, the statistic still represents a lagging indicator for the transactions agreed upon in periods earlier than October. 

I have noticed a marked change in listings with few coming to market and ones already listed either staying there for good or taking long time to convert. I do not expect the govt to announce any extension to stamp duty holiday in 2020 (they may do it in early Jan/Feb 2021) and therefore, potential buyers will no longer be rushing to buy properties in anticipation of saving stamp duty (given how long it is taking to complete a transaction now). 

At the same time, I am fully convinced of this govt's ability to keep coming up with new tricks to prop up the market next year. With the talk of England going into full lockdown will weigh on the govt's mind for sure. 

Nationwide is post survey approved mortgages, so yes, with the current backlog, it's most likely offers agreed in August and September, in these numbers. Though there are probably enough in the system to pad the November numbers as well, though the quality of borrower may be going down as the safer ones probably went through quicker.

Link to post
Share on other sites

BBC all over it this morning, they gave the past couple or releases less exposure iirc, the masses will be pleased.

Old Doris can rest easy. A she's connected up to her ventilator and her vision begins to fade, as the features of the nurse start to blur, Doris' final thought - 'at least my house is worth 7% more than it was last year'. Doris' nurse would later relay to a grieving family, she died with a smile on her face.

Link to post
Share on other sites
 

Nationwide is post survey approved mortgages, so yes, with the current backlog, it's most likely offers agreed in August and September, in these numbers. Though there are probably enough in the system to pad the November numbers as well, though the quality of borrower may be going down as the safer ones probably went through quicker.

Our offer for a £25k mortgage from Nationwide only took a week or two in September so there's probably a lot of truth to that.

Link to post
Share on other sites
 

BBC all over it this morning, they gave the past couple or releases less exposure iirc, the masses will be pleased.

Old Doris can rest easy. A she's connected up to her ventilator and her vision begins to fade, as the features of the nurse start to blur, Doris' final thought - 'at least my house is worth 7% more than it was last year'. Doris' nurse would later relay to a grieving family, she died with a smile on her face.

To be fair, that's more the thought of Doris's niece n nephew on their inheritance.  Lucky they voted Blue to 'keep the nanny state from taxing their honest gains'

Link to post
Share on other sites
 

To be fair, that's more the thought of Doris's niece n nephew on their inheritance.  Lucky they voted Blue to 'keep the nanny state from taxing their honest gains'

Agreed.

The lauding of house price rises in the current climate, is beyond ridiculous now. 

Link to post
Share on other sites
 

Old Doris can rest easy. A she's connected up to her ventilator and her vision begins to fade, as the features of the nurse start to blur, Doris' final thought - 'at least my house is worth 7% more than it was last year'. Doris' nurse would later relay to a grieving family, she died with a smile on her face.

Jesus Christ - what a sick thing to say

 

Lucky they voted Blue to 'keep the nanny state from taxing their honest gains'

They voted blue because they detest Corbyn and his anti_Semitism which the Labour party did nothing to deal with - even Laboutr Jewish MOS had to have a police escort at the conference and his support of every terrorist group his comments that the police should have risked their own lives and not killed  muslim terrorist the fact that Corby thinks everything is free and they did not trust Labour with the economy.  Am man who went to private school himself sent his own kids to private school but wanted to get rid of private schools for others.

 

Link to post
Share on other sites
 

Jesus Christ - what a sick thing to say

They voted blue because they detest Corbyn and his anti_Semitism which the Labour party did nothing to deal with - even Laboutr Jewish MOS had to have a police escort at the conference and his support of every terrorist group his comments that the police should have risked their own lives and not killed  muslim terrorist the fact that Corby thinks everything is free and they did not trust Labour with the economy.  Am man who went to private school himself sent his own kids to private school but wanted to get rid of private schools for others.

 

They do love the taste of champagne. 

Link to post
Share on other sites
 

Jesus Christ - what a sick thing to say

They voted blue because they detest Corbyn and his anti_Semitism which the Labour party did nothing to deal with - even Laboutr Jewish MOS had to have a police escort at the conference and his support of every terrorist group his comments that the police should have risked their own lives and not killed  muslim terrorist the fact that Corby thinks everything is free and they did not trust Labour with the economy.  Am man who went to private school himself sent his own kids to private school but wanted to get rid of private schools for others.

 

Agree with most of that, but second part isnt true.

His son went to a grammar school at his wife's insistence - he wanted local comp. It broke up their marriage.

 

Also wouldn't hold where children are sent to school for / against them in their adult life. As painful as the school tie wearing brigade in their 30s/40s at Henley. 

Link to post
Share on other sites
 

Jesus Christ - what a sick thing to say

They voted blue because they detest Corbyn and his anti_Semitism which the Labour party did nothing to deal with - even Laboutr Jewish MOS had to have a police escort at the conference and his support of every terrorist group his comments that the police should have risked their own lives and not killed  muslim terrorist the fact that Corby thinks everything is free and they did not trust Labour with the economy.  Am man who went to private school himself sent his own kids to private school but wanted to get rid of private schools for others.

 

To be fair to Corbyn, he obviously wasn't involved in his parents' decision to send him to an independent school and it wasn't like they sent him to Eton, they sent him to an independent preparatory school until he was old enough for grammar school. 

It was also his insistance that his son not attend a grammar school due to his strong views about the eleven-plus that led to the break up of his marriage. His experience with private and selective schools clearly helped shape his views.

*I see someone has mentioned this above, nevermind then...

Edited by spacedin
Link to post
Share on other sites
 

My uncle says he wants to buy because he fears the pound falling. Just thought I would mention that in case others are thinking the same. I see this bubbling more.

Trade deal with EU will add about 8 to 10% to GBP. 

This will also support lower rates for at least a year via Exchange Rate Pass Through Inflation (or deflation). 

Link to post
Share on other sites

had a look on Zoopla tonight, nothing at all affordable for me, I couldn’t buy my house if I wanted to now (was looking to get an idea on extension layouts in my typical layout house of its era, and to see what I have been hearing from work colleagues)

although it’s shocking the state of the housing stock that is available, small, bad quality, terrible plots, grey house chav next doors etc. I can see why the houses up for sale are up for sale. 

not anything with scope for improvement through graft and DIY, all grim horrible depressing places for too much money

I can see why anything half decent, either in size or potential sells quickly at inflated unaffordable prices. 

I thought it was bad when I looked in 2018 now is just not worth looking. 

its a real sign of the fall of the ‘real’ value of the pound. 

it’s a tricky one as buying these days normally means your in for a much longer period, after all 10 years is a long time is sub-par accommodation, plenty must be thinking whatever the costs I need to move. 

if you abandon any reason, then most feck-wit people can spent serious money on houses with the leverage offered and low interest rates, those very same people have realised that 10k stamp duty savings means they can leverage up an additional 50k 

If a FTB say on 30k with a partner on say 18k with a modest deposit they can borrow something crazy like over 300k! 

when it’s not real money like that it’s almost like people have no option but to leverage to the max just for an OK house. 

sensible well paid people being out-bid by knife edge leveraged chavs. 

plenty want to get deals through before their partner is laid off and they can no longer qualify for the mortgage again for the next few years. 

The whole meme of prices going up means people are offering the price they feel it will be in 6 months anyway.
 

the leverage and economic turmoil is worrying, these maxed out borrowing people, with financed cars, in a bad economic situation, how many years could they string it out for? they can only get by if everything picks up rapidly, HPI somehow accelerates, interest rates drop.
 

if the government don’t permanently remove stamp duty then it’s primed for a crash, same happened in 1988 with MMR. they must of kicked it into the long grass, we won’t see stamp duty comeback unless they want a crash (doesn’t look like they do, or ever will) 

I’m not even sure if waiting 6 months will help anyone. I’m very happy I no longer have to stress about buying or not, as for once in my life I wouldn’t of known the best course of action, FTB will be having a nightmare, the only comfort being that what’s available is soo grim that actually not buying is maybe more sensible for mental health at least! 

anecdotely from work I have heard of a few very well paid co-workers with big war-chests just being astonished at the way things are going being out-bid £50k over asking on average houses, can believe anyone would pay that when they could of looked at houses £50k more expensive and got something a bit more worth it, constantly being out-bid. Going to see houses in their price range (pictures look good) and find it’s some joker trying to lie to people that their house deserves to be in that price range (pictures that lie, descriptions which lie, floor-plans which lie)

even massively overpriced houses which have been on sale for 5 years or more are suddenly finding themselves stagnant enough that everyone is reaching their level in asking prices on similar houses and they don’t even seem that mental anymore 

best option for anyone with aspirations to buy is to probably just keep sensible savings in a diversified way (not just cash) save hard for the next two or three years and just hope for a better tomorrow 

worst case you could buy any-place out-right eventually even if it is sub par and at least be free of housing costs. 

internet and social media has probably added to HPI, only the people with decent houses brag, so those with crap-holes constantly feel like crap, bit like everyone needing a German car, or low self esteem. 

everyone wants a decent house, but we live in a country where only like 1 in 10 houses are decent. that’s a heck of a bottle neck of those properties. 

also when the papers publish HPI everyone suddenly feels inclined to actually listen to estate agent b***cks, it’s whipping up a mania bubble, it’s almost like the sellers are being told 

“you won’t get any viewings if you price it sensibly, you need to add £50k to your reasonable price and put ‘offers over’ and then we will do one day open viewing, get a load of my mates around, and then do close bids, some poor ******* will offer £50k more than asking price as they lost out on 5 houses already that way”

what a shit show 

Edited by jiltedjen
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 439 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.