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Realistbear

Anectdotal House Crash Evidence From The Midlands

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The Alcester Standard

Friday, July 14th, 2006

Ad for Nigel Poole & McGinn, a leading EA for the area.

Page 38

26 properties listed as follows:
Unexpectedly Back on the Market: 11
No Upward Chain: 5

Page 37

27 properties listed as follows:
New price: 11 (one reduced by 15k)
No upward chain :3

Page 41

15 properties listed as follows:
Reductions: 2, both by 10k on homes at around 205k (5%)
No upward chain: 4

The entire paper (42 pages of property ads) contains adds with several "no upward chain", and 1 SSTC. In the days of frenzy half the paper was ads with SSTC emblazoned over photos.

We can read VI reports of house prices rising all accross the nation but when you look at the actual market and see a growing percentage of "price reduced," "unexpectedly back on the market (chains breaking)" or "no upward chain (seller bailing out or BTL rush for exit)" you can safely conclude prices are falling.

Anyone else keeping track in your local property paper?

Edited by Realistbear

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The Alcester Standard

Anyone else keeping track in your local property paper?

Well I spoke to a friend in Bournemouth the other day who's been sharing a flat with the owner for the last 2 years. The owner is now selling up and getting around 6k less (on an aprox 200k property) than he paid for it.

Also several people bought off plan appartments in the city, and have been struggling to sell them for 20k less than they paid.

This is from a friend who is very pro property and is looking to buy! (I'm doing my best to disuade him).

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A couple of things I have noticed here in Northamptonshire.

Signs outside recent newbuild apartments saying For Sale by Auction

and in the local paper houses for sale saying "must sell this week"

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A couple of things I have noticed here in Northamptonshire.

Signs outside recent newbuild apartments saying For Sale by Auction

and in the local paper houses for sale saying "must sell this week"

For sale by Auction is pretty desperate. We do not appear to have reached this stage yet in the W Midlands but at the rate of sales falling through and the debt collectors pounding on not just a few doors the auction block may be the next big thing. :o

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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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