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House Price Crash Forum
BenH

New Malden, Surrey

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Glad to say the market has truly died in New Malden. Kingston is apparently still hot, and flats and houses are still selling. HOWEVER: where I am in New Malden, the 4 main estate agents close to the High St have had the same houses for sale in the past 3 months, but none have been reduced.

Me thinks the sellers are reading about the rocketing prices in London and are assuming the prices here in SW London will continue to rise..

Certain EA are renowned for hiking up prices (Cu **hods and Ba *rnard Marcus for example..- am I allowed to mention them ?)...

As an example look at these 2 bungalows... they are tiny, and one of them needs a lot of work, but the prices are truly astounding..

http://www.findaproperty.com/agent.aspx?ag...p;photo=1#photo

http://www.findaproperty.com/agent.aspx?ag...&pid=356973

My wife is pretty fed up of us renting and wants to move, but I need to convince her to be patient. Even I am feeling the sliver of anticipation that house prices here in SW London may drop... However, we have had this false dawn before...

Sh*itholes in Bradford, York, W.Midlands et al may have already fallen, but the London market seems to have a life of its own...

Edited by BenH

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I have been waiting for house price to crash for 3 years, but it has yet happened. I don't belive it will crash but price won't go much higher from now on.

- The extortionate house price increase over the past 5 years is due to the fact that lender willing to lend more money than before. It's now at a stage where house price is no longer possible to go any higher because no lender is willing to increase that lending limit i.e.3, 3.5.or 4 times salary. Where will first time buyer get extra money from to support an increase?

- Inflation is not really a significant threat except oil. China, India and Eastern Europe have done a great job for the UK to keep this low. Therefore, interest rate won't be raised too much and house price as a result has no reason to fall significantly. If BOE Monetery committee are to target asset price then they will probably increase interest rate, but this doesn't seem to be the case.

- The worldwise economic landscape has changed so much that crash like early 90s is no longer in the forseeable future.

Therefore, I have started to look around for a place to buy, a place of my own that I can do anything to it as I wish.

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The Groves, Beverley Park and Coombeside seem to be selling although weeks not days as was previously the case. If you look at prices in Kingston and Wimbledon then New Malden is a relative bargain. As long as Kingston is OK then New Malden will be.

The amount of developers refurbishing houses in the Groves is at record levels and will raise the average prices in the area further. New Malden is moving slowly upmarket and thus the attention of the developers.

I have been waiting for house price to crash for 3 years, but it has yet happened. I don't belive it will crash but price won't go much higher from now on.

- The extortionate house price increase over the past 5 years is due to the fact that lender willing to lend more money than before. It's now at a stage where house price is no longer possible to go any higher because no lender is willing to increase that lending limit i.e.3, 3.5.or 4 times salary. Where will first time buyer get extra money from to support an increase?

- Inflation is not really a significant threat except oil. China, India and Eastern Europe have done a great job for the UK to keep this low. Therefore, interest rate won't be raised too much and house price as a result has no reason to fall significantly. If BOE Monetery committee are to target asset price then they will probably increase interest rate, but this doesn't seem to be the case.

- The worldwise economic landscape has changed so much that crash like early 90s is no longer in the forseeable future.

Therefore, I have started to look around for a place to buy, a place of my own that I can do anything to it as I wish.

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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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