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lypsey

Truth From An Ea

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http://www.thisismoney.co.uk/mortgages/art...e_id=8&ct=5

This is interesting reading from an EA "Mr Pryor said sellers need to be realistic to have any hope of finding a buyer, with homes typically worth 10% to 15% less than last summer. "

Also "Many will find their dream home but will be forced to walk away because they cannot get a loan at a rate they can afford"

This line will be devastating if true "The Council of Mortgage Lenders says there will be a £30bn 'funding gap' this year - the difference between the amount borrowers want and the money available"

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This line will be devastating if true "The Council of Mortgage Lenders says there will be a £30bn 'funding gap' this year - the difference between the amount borrowers want and the money available"

How does that work out as a percentage of total borrowing... because that gives us minimum % drop, right there.

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A total of 15,599 deals were available to homebuyers last July.

The number has crashed to 5,785 since then, according to the financial information firm Moneyfacts.

Nice :)

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Only one in three houses marketed will be successfully sold this year*.The two out of three runts will be left on the shelf.Estate agents admit that prices are 15% off last year,yet the stats show otherwise.Trouble is,if only the cream is selling and the indicies are only a guide to what is selling then they are hiding the real 15% crash that has occurred in the housing stock as a whole ,including the two-thirds of stock which is now unsaleable.

To be honest i am gobsmacked by the some of the quality that is now on offer,God knows how much money has been spunked on some of this property .No wonder homeowners have got into so much debt with the improvements that have taken place.All this is masking a complete crash in prices when comparing apples with apples.

*sounds about right,currently 13 out of 132 sold in my bellweather area.In some weeks ,not a single property turns SSTC.God knows how the EAs are surviving on these volumes.Some of the vendors will be waiting years to sell at these turnover rates.

Edited by crashmonitor

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Only one in three houses marketed will be successfully sold this year*.The two out of three runts will be left on the shelf.Estate agents admit that prices are 15% off last year,yet the stats show otherwise.Trouble is,if only the cream is selling and the indicies are only a guide to what is selling then they are hiding the real 15% crash that has occurred in the housing stock as a whole ,including the two-thirds of stock which is now unsaleable.

To be honest i am gobsmacked by the some of the quality that is now on offer,God knows how much money has been spunked on some of this property .No wonder homeowners have got into so much debt with the improvements that have taken place.All this is masking a complete crash in prices when comparing apples with apples.

*sounds about right,currently 13 out of 132 sold in my bellweather area.In some weeks ,not a single property turns SSTC.God knows how the EAs are surviving on these volumes.Some of the vendors will be waiting years to sell at these turnover rates.

Just be careful abotu what you perceive as being quality. Several of the property programmes on TV in recent years openly talked about just doing enough to make property saleable. So you have lots of nicely painted rooms with newly painted plastic and MDF covering up all sorts of sins. Also, the nice bathroom, kitchen or carpets are often as cheap as possible but because they are new and shiny they impress.

Let's be careful out there people.

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Just be careful abotu what you perceive as being quality. Several of the property programmes on TV in recent years openly talked about just doing enough to make property saleable. So you have lots of nicely painted rooms with newly painted plastic and MDF covering up all sorts of sins. Also, the nice bathroom, kitchen or carpets are often as cheap as possible but because they are new and shiny they impress.

Let's be careful out there people.

all de-cluttered, a lot of vanilla and brown, a couple of mirrors, some stupid fake flowers or ethnic shite and you can flog the property for 100k more than you paid it last month. no, really <_<

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http://www.thisismoney.co.uk/mortgages/art...e_id=8&ct=5

This is interesting reading from an EA "Mr Pryor said sellers need to be realistic to have any hope of finding a buyer, with homes typically worth 10% to 15% less than last summer. "

Also "Many will find their dream home but will be forced to walk away because they cannot get a loan at a rate they can afford"

This line will be devastating if true "The Council of Mortgage Lenders says there will be a £30bn 'funding gap' this year - the difference between the amount borrowers want and the money available"

I am pretty sure I read on the Beeb earlier in the year that the CML said the funding shortage was going to be 60bn.

Are they predicting a 50% fall in prices?:lol:

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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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