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2005

What's Going On?

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I have been checking rightmove for my local area over the last couple of months looking at how many new properties are coming on the market (last 24 hour search).

It has been averaging 25-40

Just checked today

110.....in the last 24 hours!!!

Pages and pages of them and about 90% haven't even got photgraphs/images up yet.

Nearly all of these are from a smaller and more affluent area in the south of the borough I live in.

Has something happened?

I have never, ever seen this before.

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I have been checking rightmove for my local area over the last couple of months looking at how many new properties are coming on the market (last 24 hour search).

It has been averaging 25-40

Just checked today

110.....in the last 24 hours!!!

Pages and pages of them and about 90% haven't even got photgraphs/images up yet.

Nearly all of these are from a smaller and more affluent area in the south of the borough I live in.

Has something happened?

I have never, ever seen this before.

I have been monitoring properties in my old stomping area of Surrey and see that findaproperty.com has added about 2000 in the last week alone. From 177,170 to 179,531 (mostly SE England).

http://www.findaproperty.com/

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I've been noticing this too here in Liverpool. I think a lot of buy to lets are being off-loaded judging by the number of no chains. Prices are still way too high though. By the way where are you?

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Foreign investors dumping speculative property before the pound tanks?

Unlikely.

I reckon you´ve just had a new EA open up given the huge boom in housing (or just registered on rightmove?)

btp

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As expected. As soon as the market dips short-term speculators "feel" the top. Unfortunately, it's too late.

Late 2005 was the last chance.

The market is already flooded with properties. This is going to drive prices down in a big way.

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Something odd is happening here as well - was in an EA Fishguard - EA complaining that the market had died a death. I was scanning the wall opposite and trying to avoid anyone seeing my massive smile! :lol::lol::lol: Could be that potential buyers are waiting for an IR drop, but suspect its more than that!

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I Nearly all of these are from a smaller and more affluent area in the south of the borough I live in.

Place like Liverpool, Manchester, Leeds and Newcastle are going to be epicentres in this 'adjustment' IMO.

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I've been noticing this too here in Liverpool. I think a lot of buy to lets are being off-loaded judging by the number of no chains. Prices are still way too high though. By the way where are you?

Manchester, but rather not say exactly where

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I've just had a good idea. I'm going to see how many properties there are for sale in each price-bracket in my area and make a note of them. Next week I'll repeat the process, and so on. By inputting it into an Excel spreadsheet I should easily be able to see exactly what's happening. I just have to work out how to show which ones are new entries and which have moved from one price-bracket to another.

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"Epicentre"

I like that word.

It suggests an extreme happening.

Bwah ha ha ha ha....

Now do I get Dad to pull out of buying that F***ing BTL????

:(

Manchester, but rather not say exactly where

Oh go on.

Tony and Gordon can't get you.

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Remember. There's no shortage of property in the UK. This will 'magically' become apparent over the next few months when all the empty properties, held for invetment purposes, come back onto the market.

HPC 2006!

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No, there IS a shortage. The nice man at Inside Track said so.

(Crash and clatter sounds in background)

Oh ********! I just tripped over another immigrant divorcee... They're just so littering the place.

:rolleyes:

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Remember. There's no shortage of property in the UK.

More precisely, there's a huge oversupply of property... particularly crap property knocked together on a budget to sell to gullible BTLs at hugely inflated prices.

Those BTL 'executive apartments' that were a steal at only 300,000 pounds are going way, way down in the next few years.

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More precisely, there's a huge oversupply of property... particularly crap property knocked together on a budget to sell to gullible BTLs at hugely inflated prices.

Those BTL 'executive apartments' that were a steal at only 300,000 pounds are going way, way down in the next few years.

I hate to say it, but I wouldn't like to be one of the thousands who didn't see this coming and are up to their neck in debt just to afford a two bedroom house in a less desirable part of the UK. Can't go wrong with property blah de blah. Investors 5 - Sheeple 0.

They'll be trapped in negative equity for years and unable to move to the fashionable part of town where the HPC believers are living with reasonable mortgage payments and plenty of disposable income.

Laughing on the other side of your face?

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There is a shortage of property... Affordable property that is. People keep using high demand as an excuse for the high prices, but it's a bit of an upside down situation...

There are loads of people who want a home, so demand is high. But there aren't any homes on the market that they can afford. EAs and other people use the high demand generated by thousands of people who need a two or three bed house and have less than £100K to spend, to justify the fact that one-bed flats are on the market for £150K+

Basically you only need to be a little bit ignorant to believe that more overpriced houses need to be built to satisfy the hunger of all these people, hence why the majority of people don't think there'll be a crash. If everyone opened there eyes and took in the details insetad of trusting the EA-generated spin that the likes of BBC keeps parotting they'd realise the truth!

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There is a shortage of property... Affordable property that is. People keep using high demand as an excuse for the high prices, but it's a bit of an upside down situation...

There are loads of people who want a home, so demand is high. But there aren't any homes on the market that they can afford. EAs and other people use the high demand generated by thousands of people who need a two or three bed house and have less than £100K to spend, to justify the fact that one-bed flats are on the market for £150K+

Basically you only need to be a little bit ignorant to believe that more overpriced houses need to be built to satisfy the hunger of all these people, hence why the majority of people don't think there'll be a crash. If everyone opened there eyes and took in the details insetad of trusting the EA-generated spin that the likes of BBC keeps parotting they'd realise the truth!

Oh stop complaining. Wait a few months and take your pick! Speculation makes it appear that there's a shortage when there isn't!!

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I remember the casualties from the last HPC - southerns took the full force last time. Good friends of mine were left with £35k negative equity. Nearly broke their marriage up - couldn't move for years, wanted more kids but couldn't move to a bigger house and so on and so on.

How much negative equity are people going to have this time. People are going to lose the shirt off their backs !!

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I remember the casualties from the last HPC - southerns took the full force last time. Good friends of mine were left with £35k negative equity. Nearly broke their marriage up - couldn't move for years, wanted more kids but couldn't move to a bigger house and so on and so on.

How much negative equity are people going to have this time. People are going to lose the shirt off their backs !!

Oh yea. This is accelerating at an unbelievable rate.

I mean to lose all four engines at once. Gordon, you really should have done some maintanence before we got to 30,000ft.

Edited by karhu

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I hate to say it, but I wouldn't like to be one of the thousands who didn't see this coming and are up to their neck in debt just to afford a two bedroom house in a less desirable part of the UK. Can't go wrong with property blah de blah. Investors 5 - Sheeple 0.

They'll be trapped in negative equity for years and unable to move to the fashionable part of town where the HPC believers are living with reasonable mortgage payments and plenty of disposable income.

Laughing on the other side of your face?

Yep - I have noticed a lot of property going onto the market now. Seems to be load of new properties here in the south. Take a look at the Isle Of Wight and for a small island you would think that everyone is selling up.

A lot of these people will be baby boomers hoping to get a good price and then downsize. Problem is the sellers now have held out until this long through greed but they have now overshot the mark for selling at the best possible price!!

Ha bloody Ha! :)

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People are going to lose the shirt off their backs !!

Tough tittys, should think with their heads rather than their hearts, do their research, but most importantly, listen to a broader range of argument, rather than the conventional one " if you don't buy now you will never get on the ladder etc etc. B)

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Lots and lots of new property in nearby Telford, not too badly priced either ( Some of it obviously priced to sell too - clever people :D ), but still very little in the village I live in. Hopefully it won't take too much longer, we'll be sorting out a motgage certificate in the next month or so...

Edited due to appalling spelling. I blame the wine :D

Edited by libitina

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Panda - you are right but the consequences of this crash are going to be significant - mass repossessions!! I for one cannot get over the gullible people out there still paying stupid prices, getting up to their neck in mortgage debt as well as having ever increasing card debt - probably in the most part due to the fact that their mortgages are to high for them to manage in the first place.

By the way I want a HPC.

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I hate to say it, but I wouldn't like to be one of the thousands who didn't see this coming and are up to their neck in debt just to afford a two bedroom house in a less desirable part of the UK. Can't go wrong with property blah de blah. Investors 5 - Sheeple 0.

They'll be trapped in negative equity for years and unable to move to the fashionable part of town where the HPC believers are living with reasonable mortgage payments and plenty of disposable income.

Laughing on the other side of your face?

People generally put more thought and research into buying a car than a house, serves them right imo.

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  • 301 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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