Dodgy threads on here

NewHomeOwner_2

It strikes me as the reality is we don't know what's going to happen. All I'm seeing is people waiting to see what will happen.

No one knows. People that are pushing hard that there's going to be a crash are usually people that don't own yet and are hoping to benefit from a crash. People that are pushing that they are going to go up usually own and are hoping to benefit from a rise.

They are going to go up, go down or stay the same. And no matter what the outcome someone from one of those camps is going to come on here to tell everyone they told them so...

TrickyTree83

NewHomeOwner wrote: »

It strikes me as the reality is we don't know what's going to happen. All I'm seeing is people waiting to see what will happen.

No one knows. People that are pushing hard that there's going to be a crash are usually people that don't own yet and are hoping to benefit from a crash. People that are pushing that they are going to go up usually own and are hoping to benefit from a rise.

They are going to go up, go down or stay the same. And no matter what the outcome someone from one of those camps is going to come on here to tell everyone they told them so...

Agreed.

But it doesn't help to try to perpetuate that the market is going to crash so you should pull out/offer lower now. If everyone does that, everyone loses in the end apart from those who wait until the dip, buy up lots of property and reap the rewards when the market picks back up. Seems to be vested interests at work there.

sheff6107

kilby_007 wrote: »

Today my Rightmove updates have been unusually busy for a Monday, when traditionally EAs are taking bookings/offers from over the weekend and you don't see that many properties being advertised. Usually I'd see about 5 in my search area. Today there were 11 - 4 of those were properties I was previously monitoring that had sold in May/June and come back to the market. 3 of them were reductions, and a couple of the others look familiar to me too.

Near me pretty nothing has sold since March, so the listings for today and yesterday on Rightmove seem to be new today (after a quiet week last week).

All these stories of people pulling out of sales on Friday must apply elsewhere because the market is frozen solid in NW England (outside Manchester)!

So Brexit couldn't make things much worse and I'm hoping people will get their behinds in gear and start doing things when they realise that nothing has actually changed in a couple of months.

brodawel

sheff6107 wrote: »

Near me pretty nothing has sold since March, so the listings for today and yesterday on Rightmove seem to be new today (after a quiet week last week).

All these stories of people pulling out of sales on Friday must apply elsewhere because the market is frozen solid in NW England (outside Manchester)!

So Brexit couldn't make things much worse and I'm hoping people will get their behinds in gear and start doing things when they realise that nothing has actually changed in a couple of months.

Similar in N Wales, partly due to a lack of decent properties at fair prices, anything priced correctly gets snapped up. Can't see anyone pulling out around here as it's hard enough to find something in the first place.

dlmcr

My anecdotal for what it's worth: In my search area on Rightmove ("Nottingham") I have seen a number of newly listed properties yesterday and today that I've seen listed a month or two ago, they have gold SSTC and now they are coming back on the market. Not massive numbers of these but they are noticeably more than normal.
I agree that some buyers will run the risk of pulling out and losing what they have spent on surveys, searches etc on the possibility of a house that *may* be cheaper in a few months time.
We will see whether this trend continues over the coming days and weeks.

kilby_007

Today another 7 properties reintroduced in my search area (a couple of them still have the "SSTC" - an oopsie by the estate agent?) Saying that this is a "self fulfilling prophecy" because of people saying that it might happen is like arguing whether the chicken or egg came first. In my opinion, it's more irresponsible to say "everything is fine, buy buy buy" when we're at the height of a bubble, just to protect your own interests.

Crashy_Time

TrickyTree83 wrote: »

They won't fall medium term. Demand would need to fall, at the moment there are market jitters so yes some house prices will fall as a sale is needed quickly. Others are going to wait it out. The underlying shortage of housing creating demand is still there.

http://www.telegraph.co.uk/news/2016/06/27/britains-biggest-landlord-caught-in-brexit-turmoil---as-he-attem/


Why would there even be a hint of difficulty for this guy then? Surely buying what he has to sell is like buying a goldmine that will just give and give?

Crashy_Time

TrickyTree83 wrote: »

Agreed.

But it doesn't help to try to perpetuate that the market is going to crash so you should pull out/offer lower now. If everyone does that, everyone loses in the end apart from those who wait until the dip, buy up lots of property and reap the rewards when the market picks back up. Seems to be vested interests at work there.

BTL tax changes mean there is no point in the little guy "buying up lots of property" anymore. It is now a total mugs game.

lydriver

He said: "I don't think Brexit will have much effect on buy-to-let house prices because they're mainly cheaper properties worth less than £500,000 outside of London, so the prices don't have as far to fall.

so, according to him, as long as you try to spend under half a million it should be fine!

Crashy_Time

lydriver wrote: »

so, according to him, as long as you try to spend under half a million it should be fine!

Yes, there are so many stupid comments in the article it is hard to believe that he actually said them, in fact I actually feel sorry for the guy, he certainly doesn`t look well. He is definitely top poster boy for the idiocy and lending culture that has brought us the biggest property bubble of all time. IMO.