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Holy C**p Things Really Have Changed


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Without fail every few weeks for the last year I search my town on rightmove for the number of properties for sale under 200k

For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

:o

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Without fail every few weeks for the last year I search my town on rightmove for the number of properties for sale under 200k

For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

:o

Maths teachers? ;)

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Without fail every few weeks for the last year I search my town on rightmove for the number of properties for sale under 200k

For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

:o

Totally the opposite for where I live. We have been looking to up to a larger house. We had picked out 4 post codes that we would move to. We have scoured every agent and could only find 2 houses that we liked. The one house was snapped up by another buyer and the other house was found to be having planning permission on an industrial estate across road.

Searching this morning on rightmove, for our price range and within the 4 post codes that we are looking, the total of new properties on the market was a grand total of...............zero!!

This is a wide area that we have searched on and the range of price was £200k. We are waiting for our hips report and now I am thinking it is pointless putting our house on the market as its very unlikely we will be able to find anything suitable.

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Totally the opposite for where I live. We have been looking to up to a larger house. We had picked out 4 post codes that we would move to. We have scoured every agent and could only find 2 houses that we liked. The one house was snapped up by another buyer and the other house was found to be having planning permission on an industrial estate across road.

Searching this morning on rightmove, for our price range and within the 4 post codes that we are looking, the total of new properties on the market was a grand total of...............zero!!

This is a wide area that we have searched on and the range of price was £200k. We are waiting for our hips report and now I am thinking it is pointless putting our house on the market as its very unlikely we will be able to find anything suitable.

Aye, problem as ever with too little houses on the market.

Who would be rushing houses to market because of a crunch?

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Guest KingCharles1st

Ashford is a strange case. Isn't it possibly something to do with greedy speculators buying a lot of the new rabbit boxes luxury developments that had been built on the back of the main channel rail link station, that is now NOT going to be at Ashford?

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Without fail every few weeks for the last year I search my town on rightmove for the number of properties for sale under 200k

For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

:o

Like you signature says, this thread is gay. <_<

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For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

This is hugely indicative of BTLers getting out. Also, they are not buying so chains will never complete. So, prices will plummet.

Funny that!

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This is hugely indicative of BTLers getting out. Also, they are not buying so chains will never complete. So, prices will plummet.

Funny that!

Ye good point, i had never thought of it like that.

And to think of it on the way up, the chains were easy to complete with the help of the BTL brigade.

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Wouldn't it be ironic if this was the case. They have a 240 million BTL empire, so I'm sure they'll be fine.

They are massively leveraged, making only a few quid a month on houses worth £200k.

I saw old Fergus saying that their strategy worked because house prices doubled every 7 years, so a 200k house in 2006 will be worth 400k by 2013.

Staggering ignorance of economics basics, you'd think the guy could understand inflation.

Their empire is the type that can collapse very quickly from excessive borrowing and gearing, basically they're running a hedge fund with no regard for risk.

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They are massively leveraged, making only a few quid a month on houses worth £200k.

I saw old Fergus saying that their strategy worked because house prices doubled every 7 years, so a 200k house in 2006 will be worth 400k by 2013.

Staggering ignorance of economics basics, you'd think the guy could understand inflation.

Their empire is the type that can collapse very quickly from excessive borrowing and gearing, basically they're running a hedge fund with no regard for risk.

Have they just bought in the one market ?

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Although I am a bear I don't really go in for the denigration of the BTL brigade that some folk on here do.

Having said that, whenever I have seen that pair on telly, they are called the Wilsons if I recall correctly, I find myself loathing them with a vengence. What an odious pair. I think that they are very clever and will have an escape strategy if things go pear shaped. I don't think there is a schadenfreude opportunity in the offing here.

Which makes me loathe them even more.

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I think they have a few properties elsewhere but I'd imagine 90% of thier portfolio is in Ashford.

:blink:

And if they start selling and a wash of ex-BTL appears in the Ashford market, and if that helps to push prices down, then that means the value of the remaining part of their portfolio comes down.

A sort of 'eat your own head' strategy.

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I live in Ashford, looks like I sold before the rush. The Wilsons own a lot in Ashford but also in all the new areas in Kent, ie Hawkinge. Like the website suggests http://www.jwipb.co.uk/prop.asp It must be them th eproperties are theirs. So this is their way out selling their portfolio via a bond - I hope knowbody is stupid enough to buy in. Surely as they are selling a financial product they have to be more cautious with the use of examples of the gain to be made?

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I have just had a look at the Wilsons' website.

I hate them even more now.

I think it is the smug attitude. I think if the approach was 'yes property keeps going up and we keep trousering the proceeds, I don't believe it either but I am loaded as a result', I might find them bearable.

The fact is that they are parasites who have got lucky. They have done nothing to offer value to anyone. They make no contribution to society. They are sponges. At least when they taught maths they were giving something back. And they talk as if they are some kind of financial geniuses.

As all they have done is creamed off the profit from the capital growth that was happening anyway they can look back on their lives and say to themselves - everything we have has come from exploiting others.

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Without fail every few weeks for the last year I search my town on rightmove for the number of properties for sale under 200k

For almost 2 years the average is 200....two months ago and up until 3 weeks it was 238

Now, after checking for the first time in 3 weeks

440!!!

:o

Wish I could the same is happening 15 miles up the M20 in Maidstone. My Rightmove search is down from over 100 Jan/Feb time down to 60-70 on average. The vast majority of EA signs are 'sold' ones and there don't seem to be many 'For Sale' signs around. I've kept my eye on the southern estate of Allington which is made up of mainly bungalows (not typical BLT properties admittedly) and there's hardly been anything for sale in this area for at least 8 months - or if they do go on sale, they sell before they get on rightmove.

The only good news is that there were a lot of 'reduced' properties in the Maidstone KM property supplement. In fact, the last editions have been pretty hefty. Another couple of weeks and the property supplement will be fatter than the KM itself!!.

However, in general, I'm not convinced there's enough coming on to the market for decent properties (ie. 1960/70s 2-3 bed bungalows and semis in decent areas) prices to fall significantly. There are tonnes of new-build flats in Maidstone. Infact, they've pretty much lined the River Medway with them from North Maidstone around to Tovil and I expect the prices on these to tank, but I think decent properties in decent areas will not fall significantly.

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