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Bobbins

Subtle Changes In The London ‘burbs Turns Me From A Terrified Wreck……

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………into a relaxed house hunter

The London housing market thrives on fear and panic, and having had a pact with myself that I wouldn’t get sucked into this, I must admit January and February terrified me.

It wasn’t due to being outbid on any houses – there weren’t any houses on the market to bid on. With all the media hype, I guess people just held back from putting their houses on the market.

Well what a difference a week makes! EAs are now calling me. I also get e-mails every day from them. There must have been 10-15 new properties come on in my price bracket in the last 10 days alone – compare that with zero for the first two months of the year, and it’s an exponential increase.

If I’m typical of a London buyer, then I’ve now become more relaxed which can only be good for the market. In fact with all these properties coming onto the market I’m tempted to sit it out for a while. After all, the price is dependent on supply and demand - and with not a single new house coming onto the market in January and February, this fresh stock can only have one effect on prices (OK – it maybe small but every bit helps).

So here’s my punt – February 28th was the top of the London house market (FTBs don’t do it!). The bonuses have been spent, recent housing data report err on the negative side, sentiment is easing, stock is increasing and if I’m a representative sample of a London buyer, I’ve lost that terrified streak I had in January and February.

For all the people around the country saying how the feck does this impact me? Well when Miranda, Josh and Polly with Mummy and Daddy from Fulham screech around the corner of you village/town in their Range Rover to get to the EA with a fist full of equity, then you’ll know who’s pricing you out of you home.

Happy house hunting…….Bobbins

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………into a relaxed house hunter

The London housing market thrives on fear and panic, and having had a pact with myself that I wouldn’t get sucked into this, I must admit January and February terrified me.

It wasn’t due to being outbid on any houses – there weren’t any houses on the market to bid on. With all the media hype, I guess people just held back from putting their houses on the market.

Well what a difference a week makes! EAs are now calling me. I also get e-mails every day from them. There must have been 10-15 new properties come on in my price bracket in the last 10 days alone – compare that with zero for the first two months of the year, and it’s an exponential increase.

If I’m typical of a London buyer, then I’ve now become more relaxed which can only be good for the market. In fact with all these properties coming onto the market I’m tempted to sit it out for a while. After all, the price is dependent on supply and demand - and with not a single new house coming onto the market in January and February, this fresh stock can only have one effect on prices (OK – it maybe small but every bit helps).

So here’s my punt – February 28th was the top of the London house market (FTBs don’t do it!). The bonuses have been spent, recent housing data report err on the negative side, sentiment is easing, stock is increasing and if I’m a representative sample of a London buyer, I’ve lost that terrified streak I had in January and February.

For all the people around the country saying how the feck does this impact me? Well when Miranda, Josh and Polly with Mummy and Daddy from Fulham screech around the corner of you village/town in their Range Rover to get to the EA with a fist full of equity, then you’ll know who’s pricing you out of you home.

Happy house hunting…….Bobbins

I hate to tell you this - but it's like that every year. That's why it's called the "Spring" bounce. People wait until the weather gets a bit brighter before putting the house on the market, on the basis that no-one will come and look at it in the cold and gloom of Jan/Feb.

House prices almost always rise a bit in Spring. It's what they do during the rest of the year that really tells the story.

Edited by rockdoctor

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  • 302 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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