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desertorchid

Uk Visit- Not All I Had Hoped For...

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Having left the UK 3 years ago due to the impossibilty of home owning I have returned to the UK for a tour and observation round and Ive got to say I am extememly disappointed with what I hav seen w.r.t HPC given all the reporting on this site.

The areas I visited: Brighton, Worthing, Newcastle, Gateshead, Oxford, Warwick, Stratford, Ealing, Hendon, N London all had my attention as I lived in hope that For sale signs would be sprouting up and sentiment would be on the turn. However, I am afraid, as a long term bear even I was finding it hard to see evidence of a crash in process (having visited the US over the last couple of years shows what a real dying housing market can look like).

I found very few for sale signs in all of these venues and many sale agreed or sold signs. There is signs of development but no more than is probably needed and sentiments in homes remains quite strong. People are still buying and looking. Quite simply there is not an oversupply and not enough are being encouraged to sell.

I find this all rather depressing and now feel that the quaity housing stock is very unlikely to fall in price becasue, quite simply, they are not being replaced ar added to and are still in incredible demand. In conclusion, I now believe a seismic economic shock will be needed to budge this market and thankfully,I believe this will happen. However, its hard for anyone to deny that right now that the property market can be regarded as being in quite a healthy state.

Sorry, Depressed!

Edited by desertorchid

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However, its hard for anyone to deny that right now that the property market can be regarded as being in quite a healthy state.

I agree with you.

The problem for peole who live in the UK is seeing the wood from the trees.

Sometimes its much easier when you view things from afar.

The economy is sound, the interest rates are sliding up (but slowly), employment levels are OK and as you say there is a shortage of quality homes.

Prices in general will not fall in the next year or two no matter how many cherry picked stats RB puts up.

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Having left the UK 3 years ago due to the impossibilty of home owning I have returned to the UK for a tour and observation round and Ive got to say I am extememly disappointed with what I hav seen w.r.t HPC given all the reporting on this site.

The areas I visited: Brighton, Worthing, Newcastle, Gateshead, Oxford, Warwick, Stratford, Ealing, Hendon, N London all had my attention as I lived in hope that For sale signs would be sprouting up and sentiment would be on the turn. However, I am afraid, as a long term bear even I was finding it hard to see evidence of a crash in process (having visited the US over the last couple of years shows what a real dying housing market can look like).

I found very few for sale signs in all of these venues and many sale agreed or sold signs. There is signs of development but no more than is probably needed and sentiments in homes remains quite strong. People are still buying and looking. Quite simply there is not an oversupply and not enough are being encouraged to sell.

I find this all rather depressing and now feel that the quaity housing stock is very unlikely to fall in price becasue, quite simply, they are not being replaced ar added to and are still in incredible demand. In conclusion, I now believe a seismic economic shock will be needed to budge this market and thankfully,I believe this will happen. However, its hard for anyone to deny that right now that the property market can be regarded as being in quite a healthy state.

Sorry, Depressed!

If you honestly want to live in this dreadful country again come to Southend-on-Sea. There are plenty of houses for sale (semis below £200K). Pages and pages of them in the paper every week. Buy to letters are now piling onto the market. The people who bought next door to us in 2005 failed to sell after refurbishing the house and it is still being rented out to their own "housesitters" and therefore at a reduced price. It is even difficult to get a good rental price. The same company also own a building site down the road with permission for 2 houses -no work done for 2 years now!

The situation is very similar in Derby where my mother lives.

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If you honestly want to live in this dreadful country again come to Southend-on-Sea. There are plenty of houses for sale (semis below £200K). Pages and pages of them in the paper every week. Buy to letters are now piling onto the market. The people who bought next door to us in 2005 failed to sell after refurbishing the house and it is still being rented out to their own "housesitters" and therefore at a reduced price. It is even difficult to get a good rental price. The same company also own a building site down the road with permission for 2 houses -no work done for 2 years now!

The situation is very similar in Derby where my mother lives.

This is the kind of response I expected and I do believe this is the case in parts of the UK. I was just disappointed that it did not appear to be the case anywhere I visited or passed through. The point being I drove round south east USA last summer and it was blatantly obvious a HPC was coming. Here, I just couldnt see it. The good quality housing stock (now all mostly 300k +), are simply unique, and will never be added to in decent quantities. Of course some new build apartment may be liable to fall , and that along with some 'affordabe housing' projects for FTB may just fill the gap needed. I must be having one of the worst days in living memory because i'm starting to think GB could crack this.

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Having left the UK 3 years ago due to the impossibilty of home owning I have returned to the UK for a tour and observation round and Ive got to say I am extememly disappointed with what I hav seen w.r.t HPC given all the reporting on this site.

...

I found very few for sale signs in all of these venues and many sale agreed or sold signs. There is signs of development but no more than is probably needed and sentiments in homes remains quite strong. People are still buying and looking. Quite simply there is not an oversupply and not enough are being encouraged to sell.

I find this all rather depressing and now feel that the quaity housing stock is very unlikely to fall in price becasue, quite simply, they are not being replaced ar added to and are still in incredible demand. In conclusion, I now believe a seismic economic shock will be needed to budge this market and thankfully,I believe this will happen. However, its hard for anyone to deny that right now that the property market can be regarded as being in quite a healthy state.

Thanks for mentioning in almost every single paragraph that HPs are not falling.

Its amazing how many people with 1 months registration are throwing in the towel of late. Incredible actually.

Nice background story though. Love the 'I left because I was priced out. But after touring the whole country everything appears to be on a solid footing. Everywhere.'

What agency do you work for?

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This is the kind of response I expected and I do believe this is the case in parts of the UK. I was just disappointed that it did not appear to be the case anywhere I visited or passed through. The point being I drove round south east USA last summer and it was blatantly obvious a HPC was coming. Here, I just couldnt see it. The good quality housing stock (now all mostly 300k +), are simply unique, and will never be added to in decent quantities. Of course some new build apartment may be liable to fall , and that along with some 'affordabe housing' projects for FTB may just fill the gap needed. I must be having one of the worst days in living memory because i'm starting to think GB could crack this.

hi,

sorry, but what do you mean in your last sentence?

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Maybe Gordon Brown could engineer a palatable solution to the housing crisis without causing too much social discontent.

Oh right, yes, thanks. Probably going to be more difficult now with all the flooding ie to build or not to build on floodplains.

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Thanks for mentioning in almost every single paragraph that HPs are not falling.

Its amazing how many people with 1 months registration are throwing in the towel of late. Incredible actually.

Nice background story though. Love the 'I left because I was priced out. But after touring the whole country everything appears to be on a solid footing. Everywhere.'

What agency do you work for?

Believe me I think the situation is fundamentally a mess but that does not mean it cannot go on for a significant part of my life.

I wish things were different, I will not give up, but just stay abroad were things are less infuriating for the time being.

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Guest Cletus VanDamme
If you honestly want to live in this dreadful country again come to Southend-on-Sea. There are plenty of houses for sale (semis below £200K). Pages and pages of them in the paper every week. Buy to letters are now piling onto the market. The people who bought next door to us in 2005 failed to sell after refurbishing the house and it is still being rented out to their own "housesitters" and therefore at a reduced price. It is even difficult to get a good rental price. The same company also own a building site down the road with permission for 2 houses -no work done for 2 years now!

The situation is very similar in Derby where my mother lives.

Southend is a hole. It's stabsville central any night of the week.

Leigh on Sea, Thorpe Bay and Westcliff are OK though

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Southend is a hole. It's stabsville central any night of the week.

Leigh on Sea, Thorpe Bay and Westcliff are OK though

Er..Sorry, you live in North London,that safe haven!

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The usual tool used to flush out heretics. :unsure:

Yeah sorry youre right, its all true.

I visited..... Brighton, Worthing, Newcastle, Gateshead, Oxford, Warwick, Stratford, Ealing, Hendon, N London.......I found very few for sale signs in all of these venues

Brighton alone has 2500+ properties on Rightmove.

Warwick has 390.

Hendon around 450.

Gotta say though, love the back story - "I was hurt by HPI until I saw what real HPI was - what a loser I am.

But wait! Save yourselves! Buy now! Dont end up all disillusioned like me. Buying a property will bring you happiness."

'Nothing proper 'bout yer propaganda'

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Having left the UK 3 years ago due to the impossibilty of home owning I have returned to the UK for a tour and observation round and Ive got to say I am extememly disappointed with what I hav seen w.r.t HPC given all the reporting on this site.

The areas I visited: Brighton, Worthing, Newcastle, Gateshead, Oxford, Warwick, Stratford, Ealing, Hendon, N London all had my attention as I lived in hope that For sale signs would be sprouting up and sentiment would be on the turn. However, I am afraid, as a long term bear even I was finding it hard to see evidence of a crash in process (having visited the US over the last couple of years shows what a real dying housing market can look like).

I found very few for sale signs in all of these venues and many sale agreed or sold signs. There is signs of development but no more than is probably needed and sentiments in homes remains quite strong. People are still buying and looking. Quite simply there is not an oversupply and not enough are being encouraged to sell.

I find this all rather depressing and now feel that the quaity housing stock is very unlikely to fall in price becasue, quite simply, they are not being replaced ar added to and are still in incredible demand. In conclusion, I now believe a seismic economic shock will be needed to budge this market and thankfully,I believe this will happen. However, its hard for anyone to deny that right now that the property market can be regarded as being in quite a healthy state.

Sorry, Depressed!

:P:lol::P As they say in the USA -- you're fulla sh*t.

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:P:lol::P As they say in the USA -- you're fulla sh*t.

Why dont you visit these areas and tell me what you think by visiting homes, looking and sales boards and checking out the EA's. I'm afraid you will come to the same conclusion.

I say this because I was disheartened, alot of the sabre rattling on the sight recently suggests the battle is over, and cheaper, more affordable homes are around the corner ( basically thats what we all want). Anecdotally, I didnt see this happening.

As a lecturer in Economics ( not an EA) I have been telling my students for years a HPC could be round the corner( and feel a bit stupid for consistently getting predictions wrong, but fortunately students leave), and all indictors have been flashing red for years on this. I wish, believe and hope for a correction as much as anyone on this site, but you mustnt be blinded by some of the rantings on here.

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