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Bearfacts

Bouyant - My A***

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We are actively looking to rent a place on the Kent coast and have been for some time. Mrs B has been doing some great detective work and has got on good terms with local EAs and the local property developer /BTL muppet.

Anyway long story - short. Developer described the local market as 'desperate' which confirmed what all the others had been hinting at. Friends of mine who have lived there for years said the market has been falling for a couple of years now with people slashing prices but failing to get any sales.

Lady I work with had been looking for a new place in Wokingham in Berkshire ( Marina's stomping ground ) told me that prices were down about 10% since last year and she has been watching the market very carefully.

So don't get suckered by the hype, just like RBs data shows some areas are up like NI and parts of London but most areas are stagnant and many areas are falling and seeing significant falls at that.

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I have a friend trying to buy in West London.

He's had an offer accepted on a property, but now the mortgage company (Northern Rock) have sent around their valuer who has decided the property isn't worth their offer.

Either they come up with a bigger deposit, or they persuade the vendor to drop the price, or they don't get the loan.

Money's becoming harder to come by.

You can just see the screws starting to turn...

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Pretty convincing argument that the bank doesn't think its worth it. Find out how much the bank thinks it's worth knock 10% off and there's your offer.

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Lady I work with had been looking for a new place in Wokingham in Berkshire ( Marina's stomping ground ) told me that prices were down about 10% since last year and she has been watching the market very carefully.

Doesn't Wokingham come under Bracknell Forest? According to the ODPM figures that RB has become attached to, prices are showing an increase of 7.5% in the last QUARTER there.

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My job moved to Wokingham, however far too expensive so had to let job go, pushed the agents re prices and they were laughing re ofers under the asking price, this was a year ago, oh and still aint got another job, in IT, my type of job is going to India, and its not low tech either, so even if I get another IT job I will not be taking on any more mortgage risk.

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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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