Anyone noticed "For Sale" residential discounting starting to happen?

takanodia

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Crashy_Time

takanodia said:

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Yes, rising unemployment is not good for property bubbles.

Angela_D_3

takanodia said:

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Unemployed people cannot buy houses,  in theory might get kicked out of houses they own - they will have to rent.  

Crashy_Time

Angela_D_3 said:

takanodia said:

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Unemployed people cannot buy houses,  in theory might get kicked out of houses they own - they will have to rent.  

Who will live in the houses they get kicked out of?

Crashy_Time

Greymug said:

Crashy_Time said:

Greymug said:

Similar depressing situation in Edinburgh, Scotland.

Flats in the city centre used to be gone quickly, they'd be sold on a "offers over" system and the bidding war would lead to a selling price on average 15% over home report valuation. Now the city centre is flooded with flats for sale; they stay for sale for weeks/even months and with progressively lower prices.

On the other hand, houses in the outskirts are still going fast and at high prices. People want space and are moving out of the city as fast as they can.

Rental market is just as depressing: a lot of ex airbnb flats have flooded the rental market, driving prices down. So also buy-to-let has become a bad investment.

Depressing? I`m sure hard working key workers and money saving strivers who know you are just as safe from Covid in a cosy flat in the town as out in a field in Dalkeith or somewhere are devastated that mug punters no longer have enough bank credits to start "bidding wars", LOL.

Depends which way you're coming from. If you have a flat in the city centre and you want to buy a house in the countryside, the situation is as depressing as it gets

https://www.rightmove.co.uk/property-for-sale/property-84926300.html

270k off this one so far, wonder how much the country pad will be costing them?

Xenon

I have noticed a definite increase in fixed price properties in my neck of the woods - over the last month.

Thrugelmir

Crashy_Time said:

Angela_D_3 said:

takanodia said:

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Unemployed people cannot buy houses,  in theory might get kicked out of houses they own - they will have to rent.  

Who will live in the houses they get kicked out of?

Who will buy the houses they get kicked out of? 

Throw a pebble in a pond and watch the ripples spread out. The full impact of Covid hasn't been felt yet across the broader economy. 

Angela_D_3

Crashy_Time said:

Angela_D_3 said:

takanodia said:

If the global financial collapse continues then BTL will be a terrible investment  

i guess the question is, will unemployment keep rising as it is doing over the next few years, if it does then we will be in the greatest depression in a few years.

 

i personally can’t see anything to slow down the unemployment that is rising as it is doing.

Unemployed people cannot buy houses,  in theory might get kicked out of houses they own - they will have to rent.  

Who will live in the houses they get kicked out of?

More renters when the cash buyers/BTL’ers that snap them up.  You genuinely don’t seem to have any idea the sheer numbers of people who could put their hands on £50-200k tomorrow.  Maybe you’re one of them.
Banks and BS have to achieve market value for repossession houses,  I assume you’re aware of that ? 

Splatfoot

Crashy_Time said:

Greymug said:

Crashy_Time said:

Greymug said:

Similar depressing situation in Edinburgh, Scotland.

Flats in the city centre used to be gone quickly, they'd be sold on a "offers over" system and the bidding war would lead to a selling price on average 15% over home report valuation. Now the city centre is flooded with flats for sale; they stay for sale for weeks/even months and with progressively lower prices.

On the other hand, houses in the outskirts are still going fast and at high prices. People want space and are moving out of the city as fast as they can.

Rental market is just as depressing: a lot of ex airbnb flats have flooded the rental market, driving prices down. So also buy-to-let has become a bad investment.

Depressing? I`m sure hard working key workers and money saving strivers who know you are just as safe from Covid in a cosy flat in the town as out in a field in Dalkeith or somewhere are devastated that mug punters no longer have enough bank credits to start "bidding wars", LOL.

Depends which way you're coming from. If you have a flat in the city centre and you want to buy a house in the countryside, the situation is as depressing as it gets

https://www.rightmove.co.uk/property-for-sale/property-84926300.html

270k off this one so far, wonder how much the country pad will be costing them?

Well that example is clearly overpriced to begin with as it's been on for over a year. 

Angela_D_3

Splatfoot said:

Crashy_Time said:

Greymug said:

Crashy_Time said:

Greymug said:

Similar depressing situation in Edinburgh, Scotland.

Flats in the city centre used to be gone quickly, they'd be sold on a "offers over" system and the bidding war would lead to a selling price on average 15% over home report valuation. Now the city centre is flooded with flats for sale; they stay for sale for weeks/even months and with progressively lower prices.

On the other hand, houses in the outskirts are still going fast and at high prices. People want space and are moving out of the city as fast as they can.

Rental market is just as depressing: a lot of ex airbnb flats have flooded the rental market, driving prices down. So also buy-to-let has become a bad investment.

Depressing? I`m sure hard working key workers and money saving strivers who know you are just as safe from Covid in a cosy flat in the town as out in a field in Dalkeith or somewhere are devastated that mug punters no longer have enough bank credits to start "bidding wars", LOL.

Depends which way you're coming from. If you have a flat in the city centre and you want to buy a house in the countryside, the situation is as depressing as it gets

https://www.rightmove.co.uk/property-for-sale/property-84926300.html

270k off this one so far, wonder how much the country pad will be costing them?

Well that example is clearly overpriced to begin with as it's been on for over a year. 

Hardly a typical purchase for like,  anyone