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We offered £385k on a £395k house yesterday, chain free and our offer was rejected.!

House came on the market last friday and already 15 viewings and lots of second viewings lined up this weekend. They have had another offer of asking price by a couple who need to sell.

This house though, is unique and doubt we would ever leave hence we offered...

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Houses seem to be shifting again in the North Somerset area.

Locally another bunglow has been knocked down, and 8 "exective" houses are currently being built. Already 5 have sold, and despite having 6 bedrooms (over 3 floors) they look tiny and crammed in (rooms must be very small). And at 500k each you'd think nobody would touch them, but its not been the case :(

Loads of stuff around here is either under-off or sold - a pokey 2bed bunglow which sold about a year ago for £175k has had the usual paint job and b&q kitchen, and I laughed recently when it came back on at £300k - but it was sold within a week :blink:

Another pokey 3bed house was on for ages for £235k, and recently came on at £315k with the ususal treatment, and that appears to have sold as well???!! sign has come down anyway.

I think a tax on 2nd homes/BTL's might be the only way back to sanity. :(

And what is your view on why these properties are selling at these prices? Who is buying them and what for? Is there really money to be made out of them? Or is it just a tidal wave of people paying a lot more to live in houses which offer a lot less space etc? Is it a sign of the cost of living rising for people, or is it investments? Where are the returns on any such investments going to come from? What is the mechanism for extracting 300K out of a 2 bed bungalow in the outer reaches of the UK?

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More ANECDOTAL evidence.

The property we are currently renting was for sale last year they have reduced it 10 % and we have had 4 couples and one wannabe 20 year old BTL view it.

Im sorry everyone but around my area up north and my home town in Cornwall the buyers are back.

I'm sorry if some posters do not like my observations- I dont like them either.

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You are talking rubbish.

Parents just put their house on the market in Cornwall, in Padstow area where there is supposed to be massive demand. Not a dicky bird yet, not even anyone coming to look around. If they were going 'like hot cakes' you would expect people to be queueing up at estate agents ready to pounce on property coming to market.

Looking through Rightmove with mum yesterday at other properties in the area and all she kept saying was 'that's been on the market a while' etc etc

Agree. Constantly hear of people trying to sell, but due to chains breaking down their house is put back on the market. More and more people are complaining about the lenght of time it takes to sell. A few years ago anything would sell within days or weeks of being on the market. It's just not the case now.

A great number of my colleagues have invested in BTL new build flats in my area, most of them are not on particularly great salaries! It's going to end in tears.... we've just had over 130 people being made redundant again... :o

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More ANECDOTAL evidence.

The property we are currently renting was for sale last year they have reduced it 10 % and we have had 4 couples and one wannabe 20 year old BTL view it.

Im sorry everyone but around my area up north and my home town in Cornwall the buyers are back.

I'm sorry if some posters do not like my observations- I dont like them either.

Whoopee f*cking do! 5 people have 'viewed' a property.

**Breaking News**

'Houses going like hot cakes'

'It has been reported that a house in Somerset has had 5 viewings...'

Edit: Please don't come to this site and post a topic 'The Bounce is Here!' because people have come around to view your rented property. You should be banned.

Edited by munimula
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Whoopee f*cking do! 5 people have 'viewed' a property.

**Breaking News**

'Houses going like hot cakes'

'It has been reported that a house in Somerset has had 5 viewings...'

Edit: Please don't come to this site and post a topic 'The Bounce is Here!' because people have come around to view your rented property. You should be banned.

SOME OF YOU PEOPLE ARE SO RUDE!!

BAN ME OH MY GOD THE SHAME!

WAN***

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HPC Rule #1

Bearish anecdote = "factual"

Bullish anecdote = "dubious"

House prices will continue to rise at more than CPI forever. This boom has not stopped yet. Well it wont actually, its never going to stop is it?

Dont worry, everyone will continue to spend to keep this economy going forever and ever.

Long may the boom continue.

Crash/Plateau/Crash/Plateau.

Talk to Joe Blogss, "hello joe bloggs, houses are cheap arent they?" "yeah, they're really affordable at the moment, especially as the banks will now lend us 5x are salary, cool eh, and it doesnt matter that the cost of the debt burden is the same thanks to low inflation, and yes I know it means we will - in the long term - have less money to spend on other things - but hey, its a great time to buy, if they're going to go up as fast as the last 5 years, we'll make loads of money init"

Edited by Come On Down
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Personally my experience of housin market in Cornwall is that things are sticking, certainly in the slightly larger/posher end of the market. Go home every few months and there's still the "same old, same old" signs up for sale, some are even mating with other estate agents signs. Selling like hot cakes, my ar*e!

Don't know what part..............actually I do know what part of Cornwall you are talking about 'coz you mentioned it in a previous thread. I'm talking about North Cornwall as well

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AND THE DUBIOUS INTEPRETATION IS?

What is this site if it is not to offer and discuss anecdotals from indivduals around the uk and the world.

If you can't see what the dubious interpretation is, I can't help you.

Of course anecdotals is a huge part of what this site is about. It is certainly the most fun part. But presenting anectodotals as fact is idiotic. Also, generally when people post anecdotals, they generally have topics called things like "anecdotal on my recent experience with....." or a the very least "the story of what happened to my parents when they tried to sell" etc. Making a topic asserting "The Bounce iS Here!", and having EA posters present it as being a fact as opposed to the usual bearish non-fact (implied) is just inflamatory tosh.

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Personally my experience of housin market in Cornwall is that things are sticking, certainly in the slightly larger/posher end of the market. Go home every few months and there's still the "same old, same old" signs up for sale, some are even mating with other estate agents signs. Selling like hot cakes, my ar*e!

Don't know what part..............actually I do know what part of Cornwall you are talking about 'coz you mentioned it in a previous thread. I'm talking about North Cornwall as well

Unitl recently I would have posted very similar to you, that property was sticking, but the last two weeks in mid cornwall around the south coast they seem to be selling very quickly.

It amazes me how quickly you can come up against people on this forum.

My observations are just that- i'm not a troll either just discussing what I see.

I also don't think that prices will rise forever, although if we want a crash I think those rates may need to rise a bit further. At the moment I see property stagnating after dropping last year a fraction. (unless of course rate rise, petrol gas etc keep rising and unemployment goes through the roof).

Sentiment has not changed yet!!!

If you can't see what the dubious interpretation is, I can't help you.

Of course anecdotals is a huge part of what this site is about. It is certainly the most fun part. But presenting anectodotals as fact is idiotic. Also, generally when people post anecdotals, they generally have topics called things like "anecdotal on my recent experience with....." or a the very least "the story of what happened to my parents when they tried to sell" etc. Making a topic asserting "The Bounce iS Here!", and having EA posters present it as being a fact as opposed to the usual bearish non-fact (implied) is just inflamatory tosh.

Sorry I should have added IMOPO in the title thread. with added get out clause in my own local areas!

so why let EA trolls bother you?

never did get that about this site!

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What is this site if it is not to offer and discuss anecdotals from indivduals around the uk and the world.

Anecdotals are fine when they are actually interesting.

Anecdotals about people viewing your place are a waste of time and don't constitute a 'spring bounce'

numpty

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Anecdotals are fine when they are actually interesting.

Translation: Only bearish anecdotes are "interesting".

Anecdotals about people viewing your place are a waste of time and don't constitute a 'spring bounce'.

Translation: All bullish anecdotes are "a waste of time".

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Anecdotals are fine when they are actually interesting.

Anecdotals about people viewing your place are a waste of time and don't constitute a 'spring bounce'

numpty

READ ORIGINAL POST NUMPTY, BUMPTY NAME CALLER!

SO MATURE AND GROWN UP ARE YOU OLD ENOUGH TO GET A MORTGAGE! :lol::lol::lol::lol::lol::lol:

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Anecdotals are fine when they are actually interesting.

Anecdotals about people viewing your place are a waste of time and don't constitute a 'spring bounce'

numpty

You can understand why some people think houses are 'bouncing' when the BBC dedicate a nice couple of minute slot the other morning as to how prices are going up rapidly in Bristol. It was a reference to the RICS report saying houses and risen somehow as more surveyors had valuations had risen etc- hmmm.

But I was thinking, didnt the Land Registry say prices had fallen and what on earth is the BBC doing deliberately sending out mixed messages all the time. House prices growth continues, House prices hold steady etc etc.

I am certain now, that houses are going to fall. After reading Merv King's speech about long term debt and it taking time for Joe Bloggs to realise this. I really think this is going to be the nail in the coffin, its going to be one nail or so every month until the gradual effect of everything mad thats gone on in the last 5 or so years bites very hard.

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You can understand why some people think houses are 'bouncing' when the BBC dedicate a nice couple of minute slot the other morning as to how prices are going up rapidly in Bristol. It was a reference to the RICS report saying houses and risen somehow as more surveyors had valuations had risen etc- hmmm.

But I was thinking, didnt the Land Registry say prices had fallen and what on earth is the BBC doing deliberately sending out mixed messages all the time. House prices growth continues, House prices hold steady etc etc.

I am certain now, that houses are going to fall. After reading Merv King's speech about long term debt and it taking time for Joe Bloggs to realise this. I really think this is going to be the nail in the coffin, its going to be one nail or so every month until the gradual effect of everything mad thats gone on in the last 5 or so years bites very hard.

I HOPE SO !!

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We offered £385k on a £395k house yesterday, chain free and our offer was rejected.!

House came on the market last friday and already 15 viewings and lots of second viewings lined up this weekend. They have had another offer of asking price by a couple who need to sell.

This house though, is unique and doubt we would ever leave hence we offered...

Lou G if this house is all you say it is, and considering you have opted to make serious offers to purchase in this market. How come you are risking loosing this house for a sum amounting to 2.5% of the asking?

OK I can understand you doing that if you believed there was nobody else in the frame, and the house had been on the market some time. Though I personaly would have gone in alot lower on my opening bid, but this is new to the market and there is supposibly alot of interest in it. So again how come you refuse to pay the extra 10K + Stamp Duty to wrap the deal up ?

They say markets only reverse trend once everyone inclined to buy/sell through either "Greed/Fear" does so. I suspect that's because once all buyers or sellers are committed, only the reverse action can stimulate the market.

There is something to be said for ignorance, imagine if you had never come across this site, I reckon you would be happily settle in your new house by now. :ph34r:

Anyway best of luck to you and OZZIE in whatever you decide to do. He who dares wins.....into the valley of death rode the 600........faint heart never wins the day....... :ph34r:

Do I honestly know where this markets going, or how long it will take to get there? do I buggery. But as the old saying goes ......you pays your money [or not as the case may be] and you takes your chances :rolleyes:

Edited by Catch22
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Lou G if this house is all you say it is, and considering you have opted to make serious offers to purchase in this market. How come you are risking loosing this house for a sum amounting to 2.5% of the asking?

OK I can understand you doing that if you believed there was nobody else in the frame, and the house had been on the market some time. Though I personaly would have gone in alot lower on my opening bid, but this is new to the market and there is supposibly alot of interest in it. So again how come you refuse to pay the extra 10K + Stamp Duty to wrap the deal up ?

They say markets only reverse trend once everyone inclined to buy/sell through either "Greed/Fear" does so. I suspect that's because once all buyers or sellers are committed, only the reverse action can stimulate the market.

There is something to be said for ignorance, imagine if you had never come across this site, I reckon you would be happily settle in your new house by now. :ph34r:

Anyway best of luck to you and OZZIE in whatever you decide to do. He who dares wins.....into the valley of death rode the 600........faint heart never wins the day....... :ph34r:

Do I honestly know where this markets going, or how long it will take to get there? do I buggery. But as the old saying goes ......you pays your money [or not as the case may be] and you takes your chances :rolleyes:

[/quote

THANKYOU CATCH22

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Guest Winners and Losers

More "ancidotal" evidence here.

I drive home every night, lots of for sale signs in the last few months. I drove home last night and counted 15 "sold" sings, and not one for sale :(

It's 'an-ec-dotal'. We really need to do something about the quality of our spelling on here, lest we get a bad reputation. :lol:

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  • 440 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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