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House Prices Plunge Again...

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http://www.independent.co.uk/news/uk/home-...ees-878692.html

Funny how this doesnt make the bbc news but that nonsense 25% rise one does! :lol:

I'm surprised that others on here haven't picked it up. Outrageous. So because there are fewer houses being sold the agents will raise their fees. Is that an approach taken from the British Leyland Manager's Manual circa 1978. Along the lines of "we're selling fewer Austin Allegro cars, so we ought to raise prices to keep revenues up".

They need to cut costs if their income falls. That means redundancies, giving up renting high street shops, and lower salaries.

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As a result, anyone who does not need to sell their property has opted not to do so, with the number of transactions around the country falling by 3 per cent in July alone, Hometrack reports. In some areas, the slowdown is even more dramatic, with the East Midlands, for instance, seeing almost 8 per cent fewer transactions in July compared to June. Hometrack does not cover Scotland and Northern Ireland.

This is not an absence of sellers, there is lots of property available for sale... it is an absence of buyers. Surely the first line should read "anyone who does not need to buy a property has opted not to do so".

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This is not an absence of sellers, there is lots of property available for sale... it is an absence of buyers. Surely the first line should read "anyone who does not need to buy a property has opted not to do so".

Isn't it outrageous?

Nothing is selling, because there is nothing on the market?

:lol::lol:

probably deserves a 3rd one as well:

:lol:

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Also something else going on I have been informed of one estate agents near me had the rent of the shop increased

per month quite considerably. When the EA complained they were told take it or leave it. There was no way under the current conditions the EA could absorb the raise in rent so they have arranged to move in with another struggling EA and share the shop and rent.

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:unsure: What kind of messed up logic is this:

Parviz Khan, a branch manager at Birmingham-based estate agent Abbey Estates, said: "Our sales have just completely dried up and did so pretty rapidly once the crunch set in toward the end of last year. We've been forced to raise client fees in some areas to remain competitive."

Surely that's a move that makes them less competitive. :blink:

Estate agents got what's coming to them. :lol:

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Also something else going on I have been informed of one estate agents near me had the rent of the shop increased

per month quite considerably. When the EA complained they were told take it or leave it. There was no way under the current conditions the EA could absorb the raise in rent so they have arranged to move in with another struggling EA and share the shop and rent.

maybe a group of EA 'friends' should get together and get a 'friends' mortgage on their own shop, since renting is dead money.

in fact, if renting is dead money, why to most EAs rent ?

Edited by right_freds_dead

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Many of Britain's biggest estate agents are raising their prices in a desperate bid to increase their earnings from the ever-dwindling number of homes they are now able to sell.

I think the truth was at the beginning they are increasing prices to keep the profits up. EA's don't want to realise they are going to have to take pay cut like the majority of the country. They have got too used to overinflated salaries.

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Also something else going on I have been informed of one estate agents near me had the rent of the shop increased

per month quite considerably. When the EA complained they were told take it or leave it. There was no way under the current conditions the EA could absorb the raise in rent so they have arranged to move in with another struggling EA and share the shop and rent.

What they needed was a good surveyor to advise and negotiate the renewal, who would have charged them quite a lot for what is in fact a relatively simple task, but I guess they know all about that!

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I keep saying that if you aren't out there offering 50% less than asking you are helping stem the flow of air from the bubble. Go to your EA, ask for a list of distressed sellers and get in there!

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  • 395 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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