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I Notice More Sold Boards Appearing Again

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Whilst Calderdale and Kirklees seemed to be cooling off I have noticed a host of sold signs appearing again.

It seems to be taking off again around here which is surprising as I thought this was meant to be the quite time.

Anybody else notice this?

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Whilst Calderdale and Kirklees seemed to be cooling off I have noticed a host of sold signs appearing again.

It seems to be taking off again around here which is surprising as I thought this was meant to be the quite time.

Anybody else notice this?

agreeing the sale is one thing and the easiest part of the CHAIN

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Exactly. They "sell" but then the "for sale" goes back up. Where I am (near Bradford) several sales have fallen through this week, including one that has been "sold" for at least 3 months. There is also one local agency that does not appear to list its properties on RM until the day before they are "sold" - I suspect they are using this as a ploy for marketing themselves rather than to sell the houses. "Oh look, how quickly property sells when you list with us."

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Guest grumpy-old-man
agreeing the sale is one thing and the easiest part of the CHAIN

I know, why do people think property is "sold" when a "sold" sign goes up. :blink:

it should read:

"this house has recieved an offer which has been accepted & is now in a chain, but the money has not gone into the bank yet & the sale could & probably will fall through at any time",

however, this may cause problems for the signwriter ;)

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I'd have to agree that lots of Sold signs revert to "For sale" or are taken down only to reappear as "For Sale" again a few weeks later. I travel across West Yorkshire and this is on the increase in Leeds, Bradford and Kirklees. Only place that seems immune at the moment is Harrogate.

SB

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Guest grumpy-old-man
I'd have to agree that lots of Sold signs revert to "For sale" or are taken down only to reappear as "For Sale" again a few weeks later. I travel across West Yorkshire and this is on the increase in Leeds, Bradford and Kirklees. Only place that seems immune at the moment is Harrogate.

SB

yes, we see the same properties changing every 6 months from "for sale" to "sold" & back again....obviously some of them sell though.

Harrogate has lots of "old money" & is a very sought after place.

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GOM

Whats your take on Harrogate's future then?

I think when the market does go (as I'm confident it will) Harrogate has a very long way to fall at the middle/lower end (under £750K) as these are the "ordinary" people where salaries are disconnected from house prices. At the top end I think people probably have the revenues to sit it out Unless the economy turns completely and their businesses go under.

Would you agree?

SB

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Guest grumpy-old-man
GOM

Whats your take on Harrogate's future then?

I think when the market does go (as I'm confident it will) Harrogate has a very long way to fall at the middle/lower end (under £750K) as these are the "ordinary" people where salaries are disconnected from house prices. At the top end I think people probably have the revenues to sit it out Unless the economy turns completely and their businesses go under.

Would you agree?

SB

Hi strbear,

my honest opinion is I am not quite sure....(I am only 40 btw ;) ). It might be different this time (worse rather than better)

I would be interested to know what happened in places like York & harrogate in the 90's crash. This has been discussed before & iirc people who lived in York for example, at the time said prices had dropped quite a bit.

If I was to hazzard a guess, I would probably agree with your comments, those in the upper price brackets probably come from "old money" families & will be safe, those keeping up appearances will get hit. I think it's generally a rule of thumb that the sh1tty areas like Teesside, Liverpool, Manchester, Yorkshire etc, will get hit hardest & the nicest areas will not lose as much

Very good property in very good areas will always do better in a crash.

edited to add - there will always be little pockets of land that hold prices better, so I mention Yorkshire for example, but within Yorkshire we have Bradford & Harrogate, opposite ends of the economic scale imo.

Edited by grumpy-old-man

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Guest Skint Academic

At the weekend my partner and I were passing the previous house that we rented near Southampton so we decided to drive down the street and have a look at it. I remember last year there was a period of time when there was a removal van somewhere in the road almost every other day, quite literally. There would always be plenty of for sale and sold signs up. It's one of those near the bottom-rung of the property ladder roads of new builds which is known to have the fastest turn-over of house sales. It gets your foot on the ladder but you don't want to stay there for very long.

When we got there, there were only sold signs, no for sale signs. But if you think about it, in a slow market that lacks confidence, the sold sign is going to stay up until the sale has finalised as it is good advertising for the estate agents. You take the sold sign down the day you move in. I recognised a lot of the same cars in the same drive-ways for most of the other houses.

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GOM

Thanks for that - I am a recent immigrant to Yorkshire having exited my business and deciding on a quieter lifestyle in the North. Consequently not sure what happened last time around.

The interesting fact though is that in 2000 the price differences between H'gate and the South were vast - in the last 7 years its caught up (maybe even overtaken large chunks of the south) - that leads me to conclude when the drop does come it will be more severe than many expect?

I moved up in late 04 and th ehouse prices in Ilkley were higher than those in Guildford where I used to live - does that make sense in the long term?

SB

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Guest grumpy-old-man
GOM

Thanks for that - I am a recent immigrant to Yorkshire having exited my business and deciding on a quieter lifestyle in the North. Consequently not sure what happened last time around.

The interesting fact though is that in 2000 the price differences between H'gate and the South were vast - in the last 7 years its caught up (maybe even overtaken large chunks of the south) - that leads me to conclude when the drop does come it will be more severe than many expect?

I moved up in late 04 and th ehouse prices in Ilkley were higher than those in Guildford where I used to live - does that make sense in the long term?

SB

that's why I think it might be different this time. I think the North will get hit much harder than before, but again it's only my opinion, nothing to back that up with.

You have to ask yourself would someone pay SE prices to live in these northern areas, I don't think they will in the long term, either that or we have seen a long term shift of southern people moving into the north.

We might get some comments from people who lived in Harrogate & York in the last crash on this thread later today ?

Can anyone post any anecdotal for these 2 areas (but specifically Harrogate) from the last crash please ? :)

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Here in Middlesex..Northwood/Pinner stuff is still selling...even houses were I think..nobody in his/her right mind is paying that...go :blink:

I just guess that it takes a bit longer because we are so close to central London.

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Here in Middlesex..Northwood/Pinner stuff is still selling...even houses were I think..nobody in his/her right mind is paying that...go :blink:

I just guess that it takes a bit longer because we are so close to central London.

It be interesting to know if anyone has any anecdotal evidence of increased credit tightening. One would hope that the banks were clamping down on multiples and insisting on deposits. A "sold" sign doesn't mean you will get the mortgage you require, or that someone can get the asking price further down the chain

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