Saturday, February 10, 2007

Vinegar strokes before the end?

80 buyers for every sale: welcome to the property bun fight

Outside London, despite the price surge, buyers can expect that, with enough cash and bloody, will-sapping effort, they should secure the poky cottage of their dreams. But recently something very odd has been happening in London. The cherished topic of middle-class dinner parties is taking on the characteristics of a gold rush

Posted by rich @ 09:37 AM (440 views)
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9 thoughts on “Vinegar strokes before the end?

  • I wonder if Dutch Tulip sellers faced the same craziness just before roses became the thing?

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  • This is totally incredible. There is obviously soooo much money sloshing around that prices can continue to rise.

    Eventually someone has to pay. Just pray it is not you holding the 750K mortgage on a 2bed flat in east London when the flat drops back to its norm of 150K.

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  • Thats strange – as I recall the Land Registry were reporting large price falls in London for final quarter 2006 ! Note that the ever reputable / honest Foxtons are the source of this story – say no more.

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  • Cheekie Charlie says:

    “Foxtons announced this week that 60,000 would-be buyers in the capital are registered on their books alone, three times the number of this time last year. The office has 80 customers on its books for every property that comes up for sale.”

    Ah yes Foxton’s the “chop chop” specialists, lets register everyman and his dog, kitchen sink on our books and keep them on it for ever and you come up with the figure 80 to 1. Easy. Oh why not refer our clients to a dodgy subprime lending company who can russle up some false passports. I can’t wait for this army of EA to have a taste of the dole queue it shouldn’t be long, near where I live in Pudsey theres more EA than charity shops, HPI has been pretty stagnant over the past 2 years but theres the least amount of properties on the market since I can remember and there not budging very fast. Tuff sh*t.

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  • in the 70s -when I was a kid I remember loads of shoe shops. These were replaced in a matter of a year or so by loads of estate agents (same premises). Which promptly closed after a year or so. My Dad said that they were the same dodgy people chasing fads and fashions.

    sadly these EAs will not be on the dole …. they will metamorphose into something else (tulip bulb sales men?) be onto fueling the next bubble. We (the public)are such suckers.

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  • I hate EAs so very very very very much.

    If you think British ones are bad – you should come to the Netherlands. Here they are rude to purchasers and sellers too. There is no way you can do DIY house selling or purchasing – the Maakelars have it all sewn up, they take a cut both ways – and they are blatent about price fixing).

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  • larry pickleman says:

    I’ve got used to the BBC spurting crap without thinking about it, but when I picked up the Guardian today and seen that they were fuelling this mass denial too it sunk me. I had a great year last year (self employed animator/programmer…yes, i know, not a real job) and as i’ve got 3 kids and i’m 37 i VERY NEARLY took the leap with a self cert 5x mortgage, thank f**k i pulled out as work has all but stopped since november and i’d have been up the creak….

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  • The more you see through fabricated stories like these, read about our trade deficit, overvaluation of the pound, the vast numbers of flats and commercial property’s (shops) being built, dumbed down inflation figures, pension crises, stealth taxes, road charging etc etc. The more you realise that its not just house prices that will implode, it will be the whole economic shooting match.

    I just wonder what event will eventually precipitate it.

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  • all storys about further house price increases can make the weak jump in like lemons before its to late. my self i will hang on for the pop[[[[[[[[[[

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