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headmelter

Easter Sale

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What is worrying is that the website Rightmove.co.uk has suggested that asking prices have already fallen by 5% since last October.

Odd. The newspapers have only been mentioning rise after rise in asking prices :unsure:

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"What seems to be happening is that as the market slides both agents and sellers are chasing prices down. In a falling market you have to price ahead (i.e. to where people expect to see the guide price) not where it is today"

This is my favorite bit, methinks they haven't thought far enough ahead. :rolleyes:

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I think Easter will be used as an excuse for the VIs this year.

Easter is normally the period when both house and car sales take off. People have the time off to go viewing hosues and cars. I suspect many EAs and car salesmen are waiting this week for a bounce but, when it inevitably does not come, I bet they will begin to say that Easter coming so early has put the bounce off.

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Odd. The newspapers have only been mentioning rise after rise in asking prices :unsure:

Actually he has been rather bearish.

20% price reductions,

Market will correct and then over correct...have seen this 3 times in my career already.

Even posted our links to what the press were saying in 1989 saying that if you were under thirty, here's a quick education.

However to then say you are getting a bargain at 5% off, seems a bit of an about turn. Still everyone is allowed to change their mind. Apparently George Soros is famous for it. :)

Edit to add: There are links to his previous articles in headmelter's OP.

Edited by bobthe~

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"Last week, the chairman of a large developer in London warned that he felt that prices were set for a 20% fall and with net returns (the rent as a percentage of the property's cost) down to 3% in many places, putting the money in the bank at 5% is an attractive, risk-free alternative."

20% fall :rolleyes: Add on a few more percent since the VI wiew is normally restrained, we could expect 25-30% drops.......Nice. B)

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  • 295 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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