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Seeing some interesting times ahead in London at the moment. Seen some of the most ridiculous asking prices , same house back on 20% higher when did not sell last year etc. Think this may be a game of who blinks first. I'm fine about increased sales volumes when deals are being done, but the greed of some of the sellers recently popping onto the market is just astonishing. Thing is they risk sitting there and missing the prime selling time altogether, and then wondering what that popping noise in their ears was when boe eventually gets on with the business of raising rates. I find this buyer / seller power yo yo ing quite interesting stuff. Changes so quickly.

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The data does not support what I am seeing. Prices have fallen between 10 - 20k as far as I can see. Obviously people are still kiteflying but the stuff that comes on undercutting all others but a good amount sell. I am more confident than ever that this is all set to collapse, regardless of interest rates, actually.

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The data does not support what I am seeing. Prices have fallen between 10 - 20k as far as I can see. Obviously people are still kiteflying but the stuff that comes on undercutting all others but a good amount sell. I am more confident than ever that this is all set to collapse, regardless of interest rates, actually.

In that case, explain this ludicrous example from your (and my) manor.

700k, nearly three-quarters-of-a-million, for this.

http://www.findaproperty.com/agent.aspx?ag...prop&pid=229148

As you can see, someone's put a garage in living room. Crazy.

Edited by BoredTrainBuilder

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A friend of mine who has reaasons to buy (emotional) and won't be dissuaded, has been telling me how much property has gone up since she's been looking. She has lost several houses and yesterday someone put a note into my (rented) mailbox. The person wrote saying she had lost out on a flat in my building and was interested in buying. Name address and phone number supplied. I've read that lots of people in London who have sold are keeping their 1st property to rent, thus lowering numbers of property to sell.

Just ridiculous. I'm sitting this out til sanity returns (or leaving london) :angry:

Bee Bear

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The data does not support what I am seeing. Prices have fallen between 10 - 20k as far as I can see. Obviously people are still kiteflying but the stuff that comes on undercutting all others but a good amount sell. I am more confident than ever that this is all set to collapse, regardless of interest rates, actually.

All anecodotal though. I have a mate about to complete on a small poky little house for which he paid over the asking price. In Walthamstow. And he earns way way above national average, or London average, for that matter.

A lot of people I know have just been waiting too long now, and they're just getting aboard. They may even be right, who really knows. I'm still waiting. We'll see what happens over the next few months... but I said that last year.

b

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In that case, explain this ludicrous example from your (and my) manor.

700k, nearly three-quarters-of-a-million, for this.

http://www.findaproperty.com/agent.aspx?ag...prop&pid=229148

As you can see, someone's put a garage in living room. Crazy.

As I said, "kiteflying." :)

Sale Date Price Type Tenure Map Address

1 29/04/2005 £645,000 Ter. F/H Map 21a, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

2 15/04/2005 £352,000 Flat L/H Map 16b, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

3 08/04/2005 £772,500 Semi F/H Map 27, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

4 26/10/2004 £275,000 Ter. F/H Map 21, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

5 03/08/2004 £738,000 Ter. F/H Map 28, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

6 02/08/2004 £430,000 Ter. F/H Map 1, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

7 07/06/2004 £715,000 Ter. F/H Map 59, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

8 26/03/2004 £625,000 Ter. F/H Map 8, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

9 20/02/2004 £780,000 Ter. F/H Map 47, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

10 03/02/2004 £245,000 Flat L/H Map 39, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

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A friend of mine who has reaasons to buy (emotional) and won't be dissuaded, has been telling me how much property has gone up since she's been looking. She has lost several houses and yesterday someone put a note into my (rented) mailbox. The person wrote saying she had lost out on a flat in my building and was interested in buying. Name address and phone number supplied. I've read that lots of people in London who have sold are keeping their 1st property to rent, thus lowering numbers of property to sell.

Just ridiculous. I'm sitting this out til sanity returns (or leaving london) :angry:

Bee Bear

A work colleague is having the same experience trying to buy in London. The market by all accounts has gone mad.

*Jimmy Cliff voice* "The harder they come, the harder they fall, one and all"

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The data does not support what I am seeing. Prices have fallen between 10 - 20k as far as I can see. Obviously people are still kiteflying but the stuff that comes on undercutting all others but a good amount sell. I am more confident than ever that this is all set to collapse, regardless of interest rates, actually.

Me too. Approvals may be up, but from my observations, selling price down.

Damn those averages !

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Why anyone would want to live in londonstan is above me. Give me a concrete flat in Birmingham any day as me drugs are cheap and I can eat any meat I like without getting my throat slit.

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Guest Baffled_by_it_all

I've been looking in Walthamstow, amongst other places. I'm not even bothering to try and find a house - just a two bed flat with a garden.

I've given up partly because I'm nervous about the economy and partly because I can't handle the seller's market at the moment.

It seems populated with hair-trigger buyers prepared to offer the asking price or more. There's a lot of fear out there at the moment and people are doing daft things.

Some stuff does languish on the market for a while but anything half decent seems to go in days.

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In that case, explain this ludicrous example from your (and my) manor.

700k, nearly three-quarters-of-a-million, for this.

http://www.findaproperty.com/agent.aspx?ag...prop&pid=229148

As you can see, someone's put a garage in living room. Crazy.

The Estate Agent details this as an unmodernised property. So, what you are seeing here ladies and gents is the first Victorian property with a garage plus roller shutter door, circa 1890.

The place is hideous and totally out of character with the adjoining properties. If I went to view this monstrosity I would reduce my offer by half and then walk away.

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As I said, "kiteflying." :)

Sale Date Price Type Tenure Map Address

1 29/04/2005 £645,000 Ter. F/H Map 21a, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

2 15/04/2005 £352,000 Flat L/H Map 16b, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

3 08/04/2005 £772,500 Semi F/H Map 27, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

4 26/10/2004 £275,000 Ter. F/H Map 21, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

5 03/08/2004 £738,000 Ter. F/H Map 28, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

6 02/08/2004 £430,000 Ter. F/H Map 1, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

7 07/06/2004 £715,000 Ter. F/H Map 59, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

8 26/03/2004 £625,000 Ter. F/H Map 8, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HF

9 20/02/2004 £780,000 Ter. F/H Map 47, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

10 03/02/2004 £245,000 Flat L/H Map 39, Morley Road, Richmond Upon Thames, Twickenham, Greater London, TW1 2HG

Therefor asking 700,000 doesnt seem too far fetched does it?

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Some boroughs went down last year notably Merton and it was on the TV with a load of stuff about Nelson having lived there.

Edited by Given Up

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Therefor asking 700,000 doesnt seem too far fetched does it?

Have you looked at the property in question? If so, your mindset is all wrong, IMHO. My take is that as "this most unusual Victorian hse, is one of the last remaining unmodernised properties in this popular rd" it will go for less than previous ones. Also we are a year on from the last sale. They'll be lucky to get 600k.

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In that case, explain this ludicrous example from your (and my) manor.

700k, nearly three-quarters-of-a-million, for this.

http://www.findaproperty.com/agent.aspx?ag...prop&pid=229148

As you can see, someone's put a garage in living room. Crazy.

The Estate Agent details this as an unmodernised property. So, what you are seeing here ladies and gents is the first Victorian property with a garage plus roller shutter door, circa 1890.

The place is hideous and totally out of character with the adjoining properties. If I went to view this monstrosity I would reduce my offer by half and then walk away.

There isnt much comedy on this site these days, I guess everyone's hacked off waiting for a crash, but this made me chuckle, nice.

Out of all markets that get traded, housing has to be one of the slowest to react to trends... I mean, not everyone NEEDS gold, but everyone needs somewhere to live. It might be taking time to go titsup, but go titsup it will.

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Guest Winners and Losers

There isnt much comedy on this site these days

Not true, TTRTR cracks me up on a daily basis. He should have his own Friday night slot. ;)

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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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