Ridiculous listing prices

MobileSaver

FirstTimeSolo said:

MobileSaver said:

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months. 

People can move in together if they are in a support bubble together - single person households can form a support bubble with another household of any size. 

Agreed but pretty much everyone I know created a support bubble with their parents as soon as the first lockdown was announced and as far as I know you weren't supposed to chop and change who the bubble was with.

GDB2222

MobileSaver said:

Thrugelmir said:

With the early demise of many due to Covid.  A weakening would be no surprise given.

I suspect the numbers are pretty insignificant in regards to the housing market. While over 100,000 have tragically died due to Covid, most estimates suggest around 25% of those would have died anyway due to illness or old age so the effect of those on housing trends would be zero.

Similarly, most of those who died are the over-80s who were much less likely to be living in their own home anyway.

Anecdotally, of all those I knew who sadly died from covid, all but one was living in a care home and the one exception had serious underlying health conditions.

Very roughly half of the people who have died lived in care homes. Many of the rest will have left a surviving spouse. At a guess, perhaps an extra 10-20k houses will come on the market due to Covid deaths in the last year, which is only about 1% of the typical transactions. 

strawb_shortcake

MobileSaver said:

annabanana82 said:

MobileSaver said:

Several of my Facebook friends have changed their relationship status to Single during the pandemic meaning in each case one household probably now requires two properties to house them.

Equally I've been surprised how many long term singletons and other single people I know have started relationships in the last 10 months.

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months.

I can't think of any that have moved in together certainly not officially but they do visit and spend the night/weekends.
Regardless of how legal these unions are or not it shouldn't really be any surprise that they are in fact occurring. Had people have kept within the legal requirements then the UK would have fared much better. 
These aren't friends as such, but either acquaintances or friends of friends.

Unfortunately I know very few people that have abided by the rules since last March, this includes people shielding, people that have lost loved ones to Covid and based on my parents friends an awful lot of people 65+ my parents included.

MobileSaver

GDB2222 said:

MobileSaver said:

Thrugelmir said:

With the early demise of many due to Covid.  A weakening would be no surprise given.

I suspect the numbers are pretty insignificant in regards to the housing market.

At a guess, perhaps an extra 10-20k houses will come on the market due to Covid deaths in the last year, which is only about 1% of the typical transactions. 

That would not surprise me at all.

Add in that probate sales can take years to happen and certainly in the short term at least I believe the impact of covid deaths will be negligible on the housing market. (Another anecdote: I've been helping someone with probate involving three properties and all three are still in the name of the deceased some four years after they passed...)

Tokmon

MobileSaver said:

annabanana82 said:

MobileSaver said:

Several of my Facebook friends have changed their relationship status to Single during the pandemic meaning in each case one household probably now requires two properties to house them.

Equally I've been surprised how many long term singletons and other single people I know have started relationships in the last 10 months.

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months.

Has it actually not been allowed for two people to move in together? I haven't seen any guidelines saying either way but maybe I've missed it.

Crashy_Time

RelievedSheff said:

Crashy_Time said:

Getting_greyer said:

OK, so you're anyone tje drop in transactions is due to banks not willing to loan to as many people, therefore there is now less buyers available whom are able and willing to pay current prices.

Yes, it all hangs on the price of credit and the availability of credit. Some people won`t get the loans they need, some will rent cheaply and stay out of the bubble, others will try to save deposits but this will take years in some cases and also keep them out of the transaction figures (see the mad scramble when SD was cancelled for evidence of this desperation to buy into something you can`t really afford) Many will only be participants on two wages, all their savings and loans from family, any disruption to their incomes or rising mortgage rates will see them in trouble.

But there won't be cheap rents if mortgage rates increase and landlords increase their rents to cover their costs. 

Stamp duty is a minimal cost in the house buying process in most cases.

Many landlords don`t have mortgages, rents are driven by wages and employment levels not landlord costs, smart landlords who don`t want voids and double council tax know what to do IMO.

MobileSaver

Tokmon said:

MobileSaver said:

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months.

Has it actually not been allowed for two people to move in together? I haven't seen any guidelines saying either way but maybe I've missed it.

Two people not already in the same household or a bubble are not allowed to meet indoors full stop.

Although what I was really getting at was that two people don't normally move in together without having a physical relationship first and social distancing, lockdown and the closing of bars and pubs has effectively put a stop to that except for the special people that the rules don't apply to.

Crashy_Time

MobileSaver said:

Crashy_Time said:

MobileSaver said:

Crashy_Time said:

The economy and property bubble was in trouble before Covid

Really?!?!

How do you explain house prices have been rising for the last ten years if the "property bubble was in trouble"?

Crashy_Time said:

people who couldn`t afford bigger properties with bigger gardens then certainly can`t afford it now,

You keep stating this as a fact and yet report after report proves you wrong (including I might add articles that you yourself have linked to!)

Crashy_Time said:

What would the thought process be that drives a seller to do this in the middle of the biggest downturn in living memory?

Probably acting on actual real-world verifiable facts rather than misguided opinions from HPC fanatics:

UK house prices reach new high

Prices ended 2020 up 6% on the previous year on pent-up demand and stamp duty holiday

House prices up 6% is the "biggest downturn in living memory"?!?! LOL

So just to be clear, you are saying that these headlines are just not true?

https://metro.co.uk/2021/02/12/uk-economy-shrank-by-9-8-in-2020-faster-than-any-point-in-100-years-14068920/#metro-comments-container

Er, yes, that headline was true. I have answered your question so please can you answer mine?

1. How do you explain house prices have been rising for the last ten years if the "property bubble was in trouble"?
2. How do you explain report after report confirming people are moving away from urban areas to less-urban areas with bigger properties and bigger gardens if people cannot afford them?
3. How do you explain house prices increasing by 6% if we are in the "biggest downturn in living memory"?

1. Zero interest rates and government support schemes, no way this level of pricing can survive interest rate increases.
2. EA`s are trying to bang the drum for their rural business..."Look...EVERYONE is buying THIS now!" It is just basic out of date advertising tactics, will have absolutely zero baring on underlying fundamentals, and will disappear like smoke when Covid disappears.
3. Are you talking asking or actual sold?

RelievedSheff

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

Getting_greyer said:

OK, so you're anyone tje drop in transactions is due to banks not willing to loan to as many people, therefore there is now less buyers available whom are able and willing to pay current prices.

Yes, it all hangs on the price of credit and the availability of credit. Some people won`t get the loans they need, some will rent cheaply and stay out of the bubble, others will try to save deposits but this will take years in some cases and also keep them out of the transaction figures (see the mad scramble when SD was cancelled for evidence of this desperation to buy into something you can`t really afford) Many will only be participants on two wages, all their savings and loans from family, any disruption to their incomes or rising mortgage rates will see them in trouble.

But there won't be cheap rents if mortgage rates increase and landlords increase their rents to cover their costs. 

Stamp duty is a minimal cost in the house buying process in most cases.

Many landlords don`t have mortgages, rents are driven by wages and employment levels not landlord costs, smart landlords who don`t want voids and double council tax know what to do IMO.

So in your opinion landlords rent out houses for the love of it not the money?

Your posts get more bizarre by the day!! 

Crashy_Time

RelievedSheff said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

Getting_greyer said:

OK, so you're anyone tje drop in transactions is due to banks not willing to loan to as many people, therefore there is now less buyers available whom are able and willing to pay current prices.

Yes, it all hangs on the price of credit and the availability of credit. Some people won`t get the loans they need, some will rent cheaply and stay out of the bubble, others will try to save deposits but this will take years in some cases and also keep them out of the transaction figures (see the mad scramble when SD was cancelled for evidence of this desperation to buy into something you can`t really afford) Many will only be participants on two wages, all their savings and loans from family, any disruption to their incomes or rising mortgage rates will see them in trouble.

But there won't be cheap rents if mortgage rates increase and landlords increase their rents to cover their costs. 

Stamp duty is a minimal cost in the house buying process in most cases.

Many landlords don`t have mortgages, rents are driven by wages and employment levels not landlord costs, smart landlords who don`t want voids and double council tax know what to do IMO.

So in your opinion landlords rent out houses for the love of it not the money?

Your posts get more bizarre by the day!! 

No, landlords are influenced by market conditions like any other business.