Billy Ray Valentine Posted October 28, 2014 Share Posted October 28, 2014 Other than HM ( akak the nottingham money lenders ( rob from the poor give to the rich )) I regularly see Connells pricing of new listings as one of the main culprits of price rampming. A quick check on their about us, says: http://www.connells.co.uk/about-connells/ "Connells is owned by Skipton Building Society, one of the country’s top ten largest building societies. For more information, please visit www.skipton.co.uk" There you go...the people ramping up prices are the same people lending the money. This should be illegal. Disgusting. Might have to add a sig with something along these lines........ Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted October 28, 2014 Share Posted October 28, 2014 Search = Houses £210k or less within 5 miles of NN1: 15 listed today, of which 6 are reductions.40% 34 listed last 3 days of which 9 are reductions = 26% 205 listed last 14 days of which 61 are reductions = 30% So only 144 newly listed in the last fortnight, that's just 10 per day. Supply dropped a bit a short while back and now looks to have levelled off, but still a steady stream of reductions. Noticed a few back to market as well. Doesn't look like much is selling to me. Some hungry EA's this winter perhaps? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 29, 2014 Share Posted October 29, 2014 Disgusting. Might have to add a sig with something along these lines........ It is, in my opinion, and it does seem a real conflict of interest "Noticed a few back to market as well." I noticed that too. I've not a few being taken off the market and relisted a bit lower with other agents too. Some hungry EA's this winter perhaps? . Some hungry Ex-Eas perhaps. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted October 29, 2014 Share Posted October 29, 2014 (edited) Search = Houses £210K or less, within 5 miles of NN1: Today = 25 listed, of which 8 reductions, one of which is back to market with £10k off. Just under 30%. Edited October 29, 2014 by Billy Ray Valentine Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 30, 2014 Share Posted October 30, 2014 A new level of madness: http://www.rightmove.co.uk/property-for-sale/property-32851131.html " 4 bedroom detached house for sale Bancroft Close, Wootton Fields, NORTHAMPTON £430,000" Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 30, 2014 Share Posted October 30, 2014 Plenty failed sales appearing today. Quote Link to comment Share on other sites More sharing options...
HouseDog Posted October 30, 2014 Author Share Posted October 30, 2014 Plenty failed sales appearing today. Yes - its looking good! Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted October 30, 2014 Share Posted October 30, 2014 Search = Houses at £210K or less within 5 miles: 19 listed of which 8 are reductions = 43% Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 31, 2014 Share Posted October 31, 2014 True story...in 2007 I viewed a house in Ickneid drive that was on at £250K....I walked away from it shaking my head in disbelief that people were paying this for such a sub-standard small house....a couple of months later the NR collapse and of course...no one was actually buying houses. http://www.rightmove.co.uk/property-for-sale/property-48963965.html " 4 bedroom detached house for sale Icknield Drive, West Hunsbury, NORTHAMPTON £290,000" The house I saw in 2007 was bigger and better than this. Jesus wept. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted October 31, 2014 Share Posted October 31, 2014 Search = Houses £210K or less within 5 miles: 11 listed of which 4 are reductions = 36% So only 7 newly listed, supply not fluctuated. Still looks like nothing is selling. Quote Link to comment Share on other sites More sharing options...
Cid Posted November 1, 2014 Share Posted November 1, 2014 Hi Count, Housedog et al, Appreciate your contributions for news on the Northants housing situation. I'll like to ask what plans you guys have. Is there is going a timeframe before you all throw iin the towel? Waiting for anything significant over the years can be excruciatingly painful especially as you're getting older even though I'm in a much better financial situation than before. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 1, 2014 Share Posted November 1, 2014 (edited) Hi Count, Housedog et al, Appreciate your contributions for news on the Northants housing situation. I'll like to ask what plans you guys have. Is there is going a timeframe before you all throw in the towel? Waiting for anything significant over the years can be excruciatingly painful especially as you're getting older even though I'm in a much better financial situation than before. Whenever I feel that the deal I get on a house I like is either going to be 30-40% off current prices or/and the difference in buying to renting in the timeframe I feel it will take prices to get to that level is sufficient to cover the cost off the house going down over that particular timeframe. Ultimately however it has to be a house that a like very much and can see my self staying there for 10 year bare minimum. These things depend on your situation though. I'm single and live alone, and my salary is only average. If I was earning better, or/and living with someone else so overall I was able to rent and save more I'd be more liable to sit it out for longer. I have a large deposit and could lock in at a low rate if I chose to buy now, and pay £200 les per month than I currently am paying in rent, with a decent amount of the mortgage being repayment also. Having said all that I'm still happy at least for the next 6-12 months to sit it out and see what happens. My plans might change depending on how things pan out with the economy in that period. Edited November 1, 2014 by Billy Ray Valentine Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 1, 2014 Share Posted November 1, 2014 (edited) Search = Houses at £210K or les within 5 miles of NN1: Last 3 days = 87 listed of which 29 are reductions = 33% 9 of these new listings were new builds that say 'coming soon'. With those removed we have 78 listed of which 29 are reductions = 37% Edited November 1, 2014 by Billy Ray Valentine Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 1, 2014 Share Posted November 1, 2014 Search = Houses £210K or less within 5 miles: 11 listed of which 4 are reductions = 36% So only 7 newly listed, supply not fluctuated. Still looks like nothing is selling. Just done another count of places listed yesterday, with the same search. We now have: 24 listed of which 12 are reductions = 50% Today so far we have 11 listed, of which 6 are reductions = = 55% Quote Link to comment Share on other sites More sharing options...
Cid Posted November 2, 2014 Share Posted November 2, 2014 Whenever I feel that the deal I get on a house I like is either going to be 30-40% off current prices or/and the difference in buying to renting in the timeframe I feel it will take prices to get to that level is sufficient to cover the cost off the house going down over that particular timeframe. Ultimately however it has to be a house that a like very much and can see my self staying there for 10 year bare minimum. These things depend on your situation though. I'm single and live alone, and my salary is only average. If I was earning better, or/and living with someone else so overall I was able to rent and save more I'd be more liable to sit it out for longer. I have a large deposit and could lock in at a low rate if I chose to buy now, and pay £200 les per month than I currently am paying in rent, with a decent amount of the mortgage being repayment also. Having said all that I'm still happy at least for the next 6-12 months to sit it out and see what happens. My plans might change depending on how things pan out with the economy in that period. I'm looking at either a 2up/down vic terrace or dive right into a bungalow omitting the ladder altogether. Fortunately I live with my parents so have saved very heavily during my formative working years. Enough to buy without a mortgage but am reticient about making the biggest purchase of my life. I've always been frugal so the thought of shelling for a pile of bricks which has been inflated, not by growth but by reckless lending leaves me feeling a little uneasy. I'm no longer have money coming in since I've recently been made redundant so revaluating where I want to go from here. Should I plonk for the cheapest house (whatever counts for that nowadays) so that a worst 40% fall won't seem so bad nominally? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 3, 2014 Share Posted November 3, 2014 (edited) I'm looking at either a 2up/down vic terrace or dive right into a bungalow omitting the ladder altogether. Fortunately I live with my parents so have saved very heavily during my formative working years. Enough to buy without a mortgage but am reticient about making the biggest purchase of my life. I've always been frugal so the thought of shelling for a pile of bricks which has been inflated, not by growth but by reckless lending leaves me feeling a little uneasy. I'm no longer have money coming in since I've recently been made redundant so revaluating where I want to go from here. Should I plonk for the cheapest house (whatever counts for that nowadays) so that a worst 40% fall won't seem so bad nominally? "I'm no longer have money coming" "Should I plonk for the cheapest house (whatever counts for that nowadays) so that a worst 40% fall won't seem so bad nominally?" That makes no sense. You have no job so you want to buy a house and are prepared to loose 40% off the cost of whatever you buy. Even the cheapest sh*t hole of ahouse, that would cost you £30,000-£40,000. You should get the hell out the UK and find a decent country to call home. Edited November 3, 2014 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 3, 2014 Share Posted November 3, 2014 Just had a look at sept land reg for Northampton. Was up about 1% last month. Sales volumes up. Despite the east Midlands collapsing 0.8% this month, The sales volumes would be from April. The sale prices has gone up relentlessly for a year now after staying at the same flat ( corrupt ) level for years, but the prices are still 6% or there abouts below the 2007 peak ( so why we are seeing asking prices + 30% is beyond me ). The graph looks to be tailing off now though so the next few months will be very interesting. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 3, 2014 Share Posted November 3, 2014 In April it was obvious that the market was going completely nuts. I had my house initially valued in that month, and each EA smugly told me how I could get £1xx'000 for it (2007 price, and 20% more than I paid in 2012. One agent (HM) wanted to put it on for slightly higher. 6-8 weeks later I decided to put it on the market, and the first words the agent I dealt with said were a pretty blunt 'nothings changed'. It already felt like the momentum had gone out of it a bit at that stage. At the moment I really feel that April-May was the absolute peak. The driver for further significant price rises has gone IMO. My hope now is that we get a real crash soon and not just a very slow grind to the bottom. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 3, 2014 Share Posted November 3, 2014 Houses>£210K or less>within 5m of NN1: Only 3 listed today with no reductions. Supply steady, nothing selling? Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 3, 2014 Share Posted November 3, 2014 (edited) I do notice that a high proportion of houses coming on the market were bought between 2006-2008, a large majority of which are no chain. This one listed at 20%+ the 2008 sale price, shocking: http://www.rightmove.co.uk/property-for-sale/property-46835938.html Last sold in 2008: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=17071646&sale=24444773&country=england Most recent sale in this street: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=3544664&sale=51551033&country=england A decade on and still a loss. Edited November 3, 2014 by Billy Ray Valentine Quote Link to comment Share on other sites More sharing options...
Cid Posted November 3, 2014 Share Posted November 3, 2014 "I'm no longer have money coming" "Should I plonk for the cheapest house (whatever counts for that nowadays) so that a worst 40% fall won't seem so bad nominally?" That makes no sense. You have no job so you want to buy a house and are prepared to loose 40% off the cost of whatever you buy. Even the cheapest sh*t hole of ahouse, that would cost you £30,000-£40,000. You should get the hell out the UK and find a decent country to call home. When you're surrounded by 'normal' people who are unable to engage in the possiblity of the economy going in any direction other than sideways or up then you tend to be influence by their optimistic outlook. Afterall, the plates have kept spinning for so long it seems like the norm. You do realise how we sound to the average guy on the street for suggesting a crash is a necessary and good thing. All the more reason for World Government to do the 'right' thing. A scenario where I entertain the possibility of 40% fall will be against a backdrop of saving confiscation similar to Cyprus. I feel that whatever plays out, there won't be many winners. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 4, 2014 Share Posted November 4, 2014 When you're surrounded by 'normal' people who are unable to engage in the possiblity of the economy going in any direction other than sideways or up then you tend to be influence by their optimistic outlook. Afterall, the plates have kept spinning for so long it seems like the norm. You do realise how we sound to the average guy on the street for suggesting a crash is a necessary and good thing. All the more reason for World Government to do the 'right' thing. Everyone I know agree's it's a good thing and can't believe the insane prices. The plates have stopped spinning for a couple of people i know this year. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 4, 2014 Share Posted November 4, 2014 When you're surrounded by 'normal' people who are unable to engage in the possiblity of the economy going in any direction other than sideways or up then you tend to be influence by their optimistic outlook. Afterall, the plates have kept spinning for so long it seems like the norm. You do realise how we sound to the average guy on the street for suggesting a crash is a necessary and good thing. All the more reason for World Government to do the 'right' thing. A scenario where I entertain the possibility of 40% fall will be against a backdrop of saving confiscation similar to Cyprus. I feel that whatever plays out, there won't be many winners. Not another 'be careful what you wish for' post! Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted November 4, 2014 Share Posted November 4, 2014 Houses>£210K or less>within 5m of NN1: 21 listed of which 5 are reductions = 24% Supply up a little so still not much sign of anything selling. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted November 5, 2014 Share Posted November 5, 2014 Is it early 2009 again? http://www.rightmove.co.uk/property-for-sale/property-49016846.html Probably meant to put a 2 instead of a 1. Quote Link to comment Share on other sites More sharing options...
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