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I think buyers are weirder than agents, but only just. Didn't they rent that one out for a year?

So prices have fallen the last 3 months but agents are still acting bizarre. This property couldn't sell for £250k when it was first advertised! Now it is up for £285k as of today.

http://www.rightmove.co.uk/property-for-sale/property-24698942.html

Stretten Avenue!

I guess they are feeling lucky after having sold another property down that street (I walk to work this way).

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I saw this one being built; f8ck me what a palaver.

The main errors in styling and finish stem from the lack of Premier League football clubs near South Cambs.

Its what i think the americans would call a mcmansion. zero style, just big.

Wouldnt reach 500k in a sane market, maybe 1m in this one.

3mill? itll take a very rich retard to pay that.

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So prices have fallen the last 3 months but agents are still acting bizarre. This property couldn't sell for £250k when it was first advertised! Now it is up for £285k as of today.

http://www.rightmove.co.uk/property-for-sale/property-24698942.html

Stretten Avenue!

I guess they are feeling lucky after having sold another property down that street (I walk to work this way).

This is just one of many examples, I mean agents must think the general buying public is stupid or something as prices in Cambridge appear to have increased beyond 2007 levels again. At the moment everything seems to magically be worth at least 25k more than it should be? Do people not check the land registry to see what houses have sold for in the past and to help bring agents back down to reality???

This one I think is not only over-priced but also there is a serious lack of a living room??

http://www.cheffins.co.uk/cheffins-property/brampton-road-cambridge-12312

This is the smallest property I have seen in a LONG time especially for that price:

http://www.dezrez.com/drapp/search.asp?WCI=Particular&WCE=001859302

Getting angry about agents and prices again...who pays this sort of money??

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This is just one of many examples, I mean agents must think the general buying public is stupid or something as prices in Cambridge appear to have increased beyond 2007 levels again. At the moment everything seems to magically be worth at least 25k more than it should be? Do people not check the land registry to see what houses have sold for in the past and to help bring agents back down to reality???

This one I think is not only over-priced but also there is a serious lack of a living room??

http://www.cheffins.co.uk/cheffins-property/brampton-road-cambridge-12312

This is the smallest property I have seen in a LONG time especially for that price:

http://www.dezrez.com/drapp/search.asp?WCI=Particular&WCE=001859302

Getting angry about agents and prices again...who pays this sort of money??

The Brampton Road is £250k max - which is what they were priced at last year. To me £275k means £250k. Problem is, being Cambridge, you're competing with BTLers. For a 5% return the rent on that would need to be just over £1k/month, which is pretty optimistic. Frankly I'd have thought you might get that house for £225k cash on the nail.

Beche Road looks like a BTL bailout - lurvely low-maintenance back garden crammed full of bikes! I'd bet the wall between the inner hallway and the lounge is plasterboard, stuck in to get a fourth bedroom to maximise the number of peasants the slumlord can cram in. If so then BTLers bailing is a good sign that the market has topped out. The number for sael in Cambridge on Righteymove is steadily increasing, now well over 400 from a low of not much over 200 a couple of years ago.

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People with money in the bank, a crappy interest rate and a £50k guarantee. The investor market is looking for about 4.1% rental yield, same as 20 year gilt yield. There used to be a risk premium on property but this evaporated when the BOE started QE. On 4.1%, the Brampton Rd £275k one needs to pull in about £940 a month for it to make sense on a long run BTL. The general rule is take what you think the monthly rent could be and multiply it by 300 (12/0.04) and thats what an agent will expect a buy to let buyer to be willing to stump up at the moment. Telling someone that they'll get 4% gross return on their investment, better than in the bank, and that prices go up in the long run is an easy sell.

This is just one of many examples, I mean agents must think the general buying public is stupid or something as prices in Cambridge appear to have increased beyond 2007 levels again. At the moment everything seems to magically be worth at least 25k more than it should be? Do people not check the land registry to see what houses have sold for in the past and to help bring agents back down to reality???

This one I think is not only over-priced but also there is a serious lack of a living room??

http://www.cheffins.co.uk/cheffins-property/brampton-road-cambridge-12312

This is the smallest property I have seen in a LONG time especially for that price:

http://www.dezrez.com/drapp/search.asp?WCI=Particular&WCE=001859302

Getting angry about agents and prices again...who pays this sort of money??

Edited by fallingbuzzard
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Thought I'd post some south cambridge discounts:

3,500,000 -> 2,950,000 http://www.rightmove.co.uk/property-for-sale/property-14858064.html?premiumA=true

925,000 -> 850,000 http://www.rightmove.co.uk/property-for-sale/property-15787149.html

795,000 -> 695,000 http://www.rightmove.co.uk/property-for-sale/property-23982853.html

A bit more realistically for me ... 4 times my (top 10%) salary gets me a terrace in sawston:

210,000 -> 199,950 http://www.rightmove.co.uk/property-for-sale/property-25078924.html

210,000 -> 195,000 http://www.rightmove.co.uk/property-for-sale/property-26019094.html

185,000 -> 170,000 http://www.rightmove.co.uk/property-for-sale/property-23257717.html?premiumA=true

But I think these prices have some way to go!

Whoever is selling the £3.5 to £3m house should be giving Tucker Gardner an Earful. Obviously theyre being cheated out of that £7m sale...

http://www.cambridge-news.co.uk/Home/House-prices-almost-double-in-a-year-in-city-hot-spots.htm

Simon Gardner, managing director of Tucker Gardner, said large homes close to the city’s prestigious private schools were proving exceedingly popular, sparking several bidding wars among well-heeled families.

He said two homes in Barrow Road, one of the city’s most desirable addresses, recently sold for £1.7 million and £1.8 million – just a year after similar properties were going for £900,000 to £1 million.

Mr Gardner told the News: “Large detached family homes that were selling for £1 million a year ago are now going for about £2 million.

Wonder how much of Cambridge Evening News advertising revenue comes from Tucker Gardner?

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Wow, they managed to find perhaps 4 or 5 naive people. Thats very significant indeed :lol:

Whoever is selling the £3.5 to £3m house should be giving Tucker Gardner an Earful. Obviously theyre being cheated out of that £7m sale...

http://www.cambridge-news.co.uk/Home/House-prices-almost-double-in-a-year-in-city-hot-spots.htm

Simon Gardner, managing director of Tucker Gardner, said large homes close to the city’s prestigious private schools were proving exceedingly popular, sparking several bidding wars among well-heeled families.

He said two homes in Barrow Road, one of the city’s most desirable addresses, recently sold for £1.7 million and £1.8 million – just a year after similar properties were going for £900,000 to £1 million.

Mr Gardner told the News: “Large detached family homes that were selling for £1 million a year ago are now going for about £2 million.

Wonder how much of Cambridge Evening News advertising revenue comes from Tucker Gardner?

Edited by fallingbuzzard
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Wow, they managed to find perhaps 4 or 5 naive people. Thats very significant indeed :lol:

Yeah, but I wonder how much these increased prices contributed to the 'Cambridge houses up £60k' story that the Cambridge Evening News ran a week or so ago?

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Yeah, but I wonder how much these increased prices contributed to the 'Cambridge houses up £60k' story that the Cambridge Evening News ran a week or so ago?

Wilfully ignorant hacks in hock to sugar daddy estate agents. Poor basts will get another round of redundancies, and get taught a lesson in mix-adjustment, when the inevitable consequences of the below filter through;

John Pocock FRICS, Pocock &

Shaw, Cambridge,

Cambridgeshire, 01223 322552

- There are potential problems at

the lower end of the market with

a very limited number of buyers.

There is a real prospect that

prices will have to reduce here

to open the field to more first

time buyers.

http://www.rics.org/site/download_feed.aspx?fileID=6942&fileExtension=PDF

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'potential problems' say Pocock and Shaw

Wonder if that's something to do with Flat prices falling 10% since sept 06

http://www.home.co.uk/guides/asking_prices_report.htm?location=cambridge&all=1

and still not selling....

Looking across the market there are some reductions:

http://www.home.co.uk/search/property.htm?location=cambridge

but not as many as I would expect.blink.gif

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Long time since I posted. Good to see the old thread's going strong.

Bush emailed me a price reduction today.

I'm still keeping a weekly tally of RM for sale and it's good to see the volume rising, even if the median price is stuck at over GBP250K +

Out here in the SW Cambs sticks the market's still slow. Stuff does eventually sell but I haven't been here long enough to correlate the land reg prices against asking. But there's none of the fierce competetion between buyers you get in town.

It does feel as though the tide is turning again. Let's hope it's more sustained this time. My feeling is the Gubmint would like to get a crash over quick. Then they can say in 5 yrs time that prices have been rising for 3.

Toodle Pip

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Long time since I posted. Good to see the old thread's going strong.

Bush emailed me a price reduction today.

I'm still keeping a weekly tally of RM for sale and it's good to see the volume rising, even if the median price is stuck at over GBP250K +

Out here in the SW Cambs sticks the market's still slow. Stuff does eventually sell but I haven't been here long enough to correlate the land reg prices against asking. But there's none of the fierce competetion between buyers you get in town.

It does feel as though the tide is turning again. Let's hope it's more sustained this time. My feeling is the Gubmint would like to get a crash over quick. Then they can say in 5 yrs time that prices have been rising for 3.

Toodle Pip

I noticed again today that you started this thread and had been wondering whether you'd ever be back!

Good to see you; maybe it's a sign.

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Good to see you; maybe it's a sign.

I've always wanted to be a omen:)

I must admit to getting a bit disheartened since last spring but am feeling a lot more chipper about the prospect of economic armaghedon since the Tories got into power.

They managed to engineer the eighties bubble and crash quite nicely.

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The agents do think that. Courtesy of property bee: Alpha Road

Also featured here: Cambridge 2000

"Two bedrooms (formerly three)" now reads as "one bedroom"

"The property also offers scope for a loft conversion" - not any more

I'm sure that some poor soul paid a grand or so to find out that its a 1 bed house, not 3 bed nor 2 bed, with no scope for loft. So one of the agents/seller were misinformed / naive / lying or a combination of many. A rare occasion for me to think that lawyers are good value if they have rescued someone from buying this.

I am also still surprised that people are buying in the Thornton estate in Girton. I thought this appealed to families because of schooling but a little headbird told me that the children from Wellbrook Way get into Girton Glebe/Impington VC ahead of them and that they cant provide places to the full catchment area from this year onwards and they cant expand to fill the needs over the next few years. The Thorton children have to slum it (my words) down at Mayfield or St Lukes and feed into Chesterton. It doesn't seem to have been reflected in asking prices so its a bit curious. I almost in the Thornton estate a couple of years ago so I am a bit relieved because schools did matter in my decision process then. Doesn't seem to impact on asking or selling prices though.

I mean agents must think the general buying public is stupid

Edited by fallingbuzzard
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Popped into my letting agent's this lunchtime - they do sales too. The boss has definitely lost weight since last Autumn. They said without much prompting that prices are falling and when I suggested the problem is persuading sellers that this is the case he harrumphed in acknowledgement. They know I'm a prospective buyer yet still suggested I'd be best waiting a while. And they're trying to sell houses for godsake!

This is out in the sticks you understand.

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Absolutely! More supply of deluded sellers. So more property that can be taken off the market unsold. Creating the impression that it sold. The next seller on the road has higher expectations. Then the agents compete to meet that expectation, market it, fail and then its taken off the market unsold. Creating the impression.....

Roll up! Roll up! Get yer overpriced homes!

Edited by fallingbuzzard
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Good afternoon All,

Having just returned from a fortnight away I thought I would check out RM and see if there have been any changes in Cambridge.

My My I was surprised as propertybee had lots of new yellow lines (input smiley face here).

A lot of properties priced between £100k - 150k have been falling like stones in water - plonk!

And they aren't little plonks either such as the £500! (huge reduction in price I know) that sellers have done previously!. No! They are down between £2.5k - £10k!!

This is good news and huge reductions for homes at this price. More properties have been added also.

BUT!

This is interesting. The George Nuttall Close area (not that I am interested to live here) has increased. Strangely enough they are ALL share equity properties. All have risen between £1 k- £4k or £5k. There must have been a dozen or so of these. Madness, and I feel sorry for anyone who tries to strike a deal on buying one of these.

Interesting times a head for sure!!

Sorry for no links but I am at work. Will update at a later point.

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Long time from me on here too. I notice this thread has 180,000 views - probably more than the population of Cambridge!

I've moved from one rented property to another - the rental market is incredibly competitive so there's probably upwards pressure on rental prices. Hopefully the tide has turned with house prices, however being self employed now I doubt I could get much of a mortgage in any case, so I haven't been following the market so closely!

I'm still reluctantly bullish on prices though while interest rates remain at 0.5%.

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  • 442 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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