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May 7 2021 11.02am

The Great London House-Price Softening

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 28 Mar 20 10.13pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by Tim Gypsy Hill '64

Lower prices for buying a house only affect first time buyers or end sellers, ie heirs to property. However, whenever you buy a property, regardless of the market prices, you will be better off financially within 5 years unless you default on the mortgage contract.

Could be a big unless there.

 


COYP

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View Mapletree's Profile Mapletree Flag Croydon 28 Mar 20 11.35pm Send a Private Message to Mapletree Add Mapletree as a friend

Originally posted by Lyons550

You could always sign it over to them in order that inheritance isn't an issue...having said that its only an issue if you leave more than £400k...

£500k if passing on a main residence. Or just give it away and live seven more years

 

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 24 Apr 20 11.18am Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

Commentators are now reporting that the housing market is in the deep freeze.

Perhaps the thread title is too euphemistic.

 


from the Etihad, Emirates, Molyneux, London Stadium, the Vitality, turf moor & Anfield to Old Trafford x 2.....or a neighbourly visit to Craven Cottage...Raptors on the Road

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View ex hibitionist's Profile ex hibitionist Flag Hastings 27 Apr 20 5.56pm Send a Private Message to ex hibitionist Add ex hibitionist as a friend

apparently it's an urban myth that Thatcher invented Mr Whippy ice cream which is a shame bcos the metaphor would have legs if this were the case, e,g. the loan to buy scheme would be the sort of air bubbles in the ice cream so to speak

 

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 27 Apr 20 7.07pm Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Originally posted by PalazioVecchio

Commentators are now reporting that the housing market is in the deep freeze.

Perhaps the thread title is too euphemistic.

Itís frozen because all the agents are shut.

What happens when they re open will determine how much prices fall by. Make no mistake, they will fall, but by how much nobody knows.
Personally, and Iím a property developer, I think we are looking at no more than 2007. I think the reason prices wonít fall too much is that many people who would look to sell now wonít once they realise their property is now worth less than it was before CV, thus the shortage of buyers will in some way be counteracted by lack of sellers.

I reckon 10-20% drop in South East but I donít think they will hit bottom for some time, possibly end of the year.

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 02 Jun 20 9.58am Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Largest monthly fall in house prices for 11 years

[Link]

Expect more!

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View leejaneagles's Profile leejaneagles Flag 03 Jun 20 3.17pm Send a Private Message to leejaneagles Add leejaneagles as a friend

I started the buying a flat thread in the other section and thanks to a lot of good advice from the likes of Tom and others, Iím in a better position to buy now.

That said, seen Rightmove plastered all over my Facebook this morning offering advice on when to invest in property. It just seems wrong to me. As others have said, there are winners and losers but at a time like this when people are losing jobs, loved ones and soon, houses, I donít think Rightmove should be gloating or advertising vulture strategies.

I donít think itís to help first time buyers or people that buy a home to live in it either, the Millionaires are no doubt rubbing their hands together and will pick off family homes for relative pennies and sit on them, probably not even going to regular market.

On a separate note, does anyone think new-builds would drop through the floor or hold their price? I never really considered one because the prices are obscene but who knows now. I assume they can be sat on a lot longer as no one is in them plus they have the convoluted, helping but not really helping government scheme.

 

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 03 Jun 20 8.35pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

We may need to change the title of the thread to "the housing market has gone to hell in a handcart"

 


from the Etihad, Emirates, Molyneux, London Stadium, the Vitality, turf moor & Anfield to Old Trafford x 2.....or a neighbourly visit to Craven Cottage...Raptors on the Road

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 03 Jun 20 8.39pm Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Originally posted by PalazioVecchio

We may need to change the title of the thread to "the housing market has gone to hell in a handcart"

It wonít go to hell.

Just a slight downward readjustment

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View Eaglecoops's Profile Eaglecoops Flag CR3 04 Jun 20 11.02pm Send a Private Message to Eaglecoops Add Eaglecoops as a friend

Every agent I have spoken to has said properties are flying off the books. Iíve sold one of my properties that had stuck for 3 months prior to lockdown and at a very close price to asking price. I donít see much of a downward move/alteration in prices happening unless the cost of borrowing increases.

 

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 05 Jun 20 8.58am Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Originally posted by Eaglecoops

Every agent I have spoken to has said properties are flying off the books. Iíve sold one of my properties that had stuck for 3 months prior to lockdown and at a very close price to asking price. I donít see much of a downward move/alteration in prices happening unless the cost of borrowing increases.

Lack of stock possibly keeping prices artificially high, no new properties coming to market during lockdown down.

Trust me itís coming. Lenders already done away with 20% buy to let deposits, in fact only a few now doing 25%

Only one direction they are heading, just a case of by how much

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 07 Apr 21 8.45pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

Originally posted by Tom-the-eagle

It wonít go to hell.

Just a slight downward readjustment

The Stamp duty holiday has been extended to June. The government are Holding the market together with sellotape.

[Link]

 


from the Etihad, Emirates, Molyneux, London Stadium, the Vitality, turf moor & Anfield to Old Trafford x 2.....or a neighbourly visit to Craven Cottage...Raptors on the Road

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