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Has Coronavirus officially killed the housing market?


Post-Covid, what 3 changes are you going to try to make? (max 3)  

119 members have voted

  1. 1. Post-Covid, what 3 changes are you going to try to make? (max 3)

    • Work from home more
    • Walk more (drive less)
    • Avoid Chinese goods
    • Shop locally
    • Quit working (bennies)
    • Retire earlier
    • Leave the UK
    • Come back to UK
    • Cook more own food
    • Eat out more
    • See family more
    • See family less!
    • More time on hobbies
    • Worry less
    • Get divorced
    • None of the above

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Anyone that had a 20% deposit before prices halved

I've just spent a while browsing the 118 forums since my previous post.  Tenants not paying, tenants already fucked off, not a registered business, mortgage company doesnt want to know, how will

I can hardly bear to go in the place. Obviously can't at the moment anyway, as marooned in the US. Makes my own father's death at home, in his own bed look like a lottery win. I have told the story be

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Lloyds bank just hit a year low at 25p down 7% on the day:

Quote

 

Lloyds Bank set aside a further £2.4bn for bad debts in the second quarter as it swung to a heavy first-half loss and braced for a "significant deterioration" in the economic outlook amid the coronavirus pandemic.
That took impairment charges to £3.8bn in the first half, up from £579m in 2019, with the bank forecasting a full-year figure of between £4.5bn - £5.5bn.

The lender booked a pre-tax loss of £602m compared with a profit of £2.9bn a year ago. Net income fell 11% to £5.4bn.

"There have been early signs of recovery in the group's core markets, mainly in consumer spending and the housing market, but the outlook remains highly uncertain and the impact of lower rates and economic fragility will continue for at least the rest of the year," Lloyds said on Thursday.

"The outlook has clearly become more challenging since our first quarter results, with the economic impact of lockdown much larger than expected at that time."

"With the gradual easing of social distancing measures we have more recently seen consumer spending levels increase, housing market activities reawaken, and the economy return to growth in May and June. However, the negative economic impact remains profound and we have revised our expectations accordingly."

Lloyds became the latest bank to paint a bleak picture of the economic future. On Wednesday, Spain's Santander fell to a €11.1bn second quarter loss wrote down the value of its UK unit by 85%, while rival UK lender Barclays reported higher-than-expected bad debt provisions.

Lloyds' scenario modelling for estimating future credit losses was now based on the UK unemployment rate reaching 9% in the fourth quarter of 2020 "and more sustained reductions in asset prices"

https://www.hl.co.uk/shares/shares-search-results/l/lloyds-banking-group-plc-ordinary-10p/share-news

 

 

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Drowning.

https://www.bbc.co.uk/news/uk-england-derbyshire-53580768

It was a shock for 1,500 people in Whaley Bridge last summer when they were abruptly ordered to leave their homes over fears a badly damaged dam could collapse and cause a devastating flood.

Did house prices go down?

You might have thought the frightening situation would put prospective buyers off moving to the area but estate agent Lorraine Batty said it actually gave the town a boost.

"It put us on the world map. Everybody knew about Whaley Bridge," she said.

"After about a month when things had settled down a little bit with the dam, we did more sales in the latter part of the year than we've ever done previously.

"And property prices were increasing slightly as well - probably between five and 10%.

"I'd been extremely concerned how people would perceive the market very close to the dam but we saw the absolute opposite and yes, it surprised me.

They just don't know when to fucking stop.

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7 minutes ago, MrLibertyRedux said:

Drowning.

https://www.bbc.co.uk/news/uk-england-derbyshire-53580768

It was a shock for 1,500 people in Whaley Bridge last summer when they were abruptly ordered to leave their homes over fears a badly damaged dam could collapse and cause a devastating flood.

Did house prices go down?

You might have thought the frightening situation would put prospective buyers off moving to the area but estate agent Lorraine Batty said it actually gave the town a boost.

"It put us on the world map. Everybody knew about Whaley Bridge," she said.

"After about a month when things had settled down a little bit with the dam, we did more sales in the latter part of the year than we've ever done previously.

"And property prices were increasing slightly as well - probably between five and 10%.

"I'd been extremely concerned how people would perceive the market very close to the dam but we saw the absolute opposite and yes, it surprised me.

They just don't know when to fucking stop.

Meanwhile .. inthe world of real sold data ....

https://www.home.co.uk/guides/house_prices_report.htm?location=whaley_bridge&all=1

Classic Northern graph.

Doubles+ til 2005. Then sticks around the same price for the last 16 years.

 

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1 hour ago, MrLibertyRedux said:

Drowning.

https://www.bbc.co.uk/news/uk-england-derbyshire-53580768

It was a shock for 1,500 people in Whaley Bridge last summer when they were abruptly ordered to leave their homes over fears a badly damaged dam could collapse and cause a devastating flood.

Did house prices go down?

You might have thought the frightening situation would put prospective buyers off moving to the area but estate agent Lorraine Batty said it actually gave the town a boost.

"It put us on the world map. Everybody knew about Whaley Bridge," she said.

"After about a month when things had settled down a little bit with the dam, we did more sales in the latter part of the year than we've ever done previously.

"And property prices were increasing slightly as well - probably between five and 10%.

"I'd been extremely concerned how people would perceive the market very close to the dam but we saw the absolute opposite and yes, it surprised me.

They just don't know when to fucking stop.

Gill Barras, who also lives in the town, does not feel as nervous.

"It will be the safest dam in Britain," she said.

"The village could have gone - the whole world knew about it. So obviously they're going to make it really strong.

"I have no doubts whatsoever. It's all the other dams they need to worry about."

Bless.

Here's Lorraine Batty, documentator of that famous 'Chernobyl bounce'

lorr-b.jpg.pagespeed.ce.X1sKRIDHs4.jpg

Whaley Bridge is led by Lorraine Batty who opened and established this office in 2007. Lorraine is a Member of the National Association of Estate Agents and has 33 years’ experience, 28 of which were in the High Peak area.

With a wealth of knowledge, Lorraine is passionate about giving her clients professional advice and a high standard of service. Lorraine is supported by her experienced team, Christine, Corina, Rhys & Debbie.

Does she look like a liar?

 

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13 minutes ago, spygirl said:

Here's Lorraine Batty, documentator of that famous 'Chernobyl bounce'

lorr-b.jpg.pagespeed.ce.X1sKRIDHs4.jpg

Whaley Bridge is led by Lorraine Batty who opened and established this office in 2007.

 

I never knew Wally and Nora had a daughter, you learn something every day.:ph34r:

She  got her dad's looks.........

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1 hour ago, spygirl said:

Gill Barras, who also lives in the town, does not feel as nervous.

"It will be the safest dam in Britain," she said.

"The village could have gone - the whole world knew about it. So obviously they're going to make it really strong.

"I have no doubts whatsoever. It's all the other dams they need to worry about."

Bless.

Here's Lorraine Batty, documentator of that famous 'Chernobyl bounce'

lorr-b.jpg.pagespeed.ce.X1sKRIDHs4.jpg

Whaley Bridge is led by Lorraine Batty who opened and established this office in 2007. Lorraine is a Member of the National Association of Estate Agents and has 33 years’ experience, 28 of which were in the High Peak area.

With a wealth of knowledge, Lorraine is passionate about giving her clients professional advice and a high standard of service. Lorraine is supported by her experienced team, Christine, Corina, Rhys & Debbie.

Does she look like a liar?

 

Doesn't matter what she looks like. If she's an Estate agent you know she's a fucking liar. It comes with the territory. 

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On 02/07/2020 at 08:06, Mirror Mirror said:

 

Have you seen the graph on HOC lately? Prices don’t look too far out of kilter with historical values to me.
 

 

 

What's the Honda Owners Club got to do with house prices?

or the Harlequins Orienteering Club for that matter.

or Hochschild Mining Plc Ord 25P is listed on the London Stock Exchange, trading with ticker code HOC. 

Sorry, can't figure out what HOC is.

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On 02/07/2020 at 10:43, JoeDavola said:

 

Dunno about renting forever, but it does mean that I can move away from the popular places because I don't give two shite about being near a 'good school'.

Mind you my own primary school is around the corner from the aformentioned house and has been having major problems the last decade because of the sheer number of non-english speakers in classes.

 

And when you retire you can look forward to:

https://www.inspiredvillages.co.uk/rental?utm_campaign=ah&utm_medium=email&utm_source=rental-redwood

Take note that some of the villages quote rental prices as per week. And service charges aren't included, they're an additional charge.

Edited by sleepwello'nights
Service charges on top
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6 hours ago, sleepwello'nights said:

And when you retire you can look forward to:

https://www.inspiredvillages.co.uk/rental?utm_campaign=ah&utm_medium=email&utm_source=rental-redwood

Take note that some of the villages quote rental prices as per week. And service charges aren't included, they're an additional charge.

I am working on a cunning plan to retire and live off your kids' taxes B|

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3 hours ago, Wight Flight said:

I am working on a cunning plan to retire and live off your kids' taxes B|

 

2 hours ago, sleepwello'nights said:

You probably could live very comfortably on the tax my children pay. Its fucking ridiculous the colossal amounts they each pay. 

 

Let the DOSBODS' one-upmanship commence...

 

XYY

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New to market coming on at covid kite flying prices (like a 290k on twice in recent times, never seen SSTC but removed as if no interest, now at 345k!). However I'm also seeing quite a few reductions now. Maybe the schools going back is helping. In a tourist area their time to sell while the tourists are here is running out.

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There's plenty of sales here, it's mental. I've just assumed it's the rush before the crash, rats fleeing the ship etc. When furlough ends fully, interest rates go up, and unemployment rockets I think we'll see 33pc drops within a year or two. 

Not enough impo. 

Those with cash are going to be the lucky ones.

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It's coming.  The initial breezes of the hurricane have started to waft onshore Australia...

One in seven Sydney vendors slashed their asking prices in July, three times more than last year, as the decline in home values accelerated in the past three months, data from online property listings site Domain shows.

Across Sydney, 14.7 per cent of sellers have cut their prices, a figure slightly lower than the 15.2 per cent recorded in June, but still the highest proportion of reduced price listings in the country. A year ago, just 5.1 per cent of Sydney vendors were discounting their asking prices.

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3 hours ago, wherebee said:

It's coming.  The initial breezes of the hurricane have started to waft onshore Australia...

One in seven Sydney vendors slashed their asking prices in July, three times more than last year, as the decline in home values accelerated in the past three months, data from online property listings site Domain shows.

Across Sydney, 14.7 per cent of sellers have cut their prices, a figure slightly lower than the 15.2 per cent recorded in June, but still the highest proportion of reduced price listings in the country. A year ago, just 5.1 per cent of Sydney vendors were discounting their asking prices.

1 in 7 is fuck all. :CryBaby:

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11 minutes ago, spunko said:

1 in 7 is fuck all. :CryBaby:

 

3 minutes ago, Knickerless Turgid said:

As I have written before, a 25% drop in the major cities wouldn't even touch the sides.

50% off with room to negotiate and Sydney might start to look interesting again.

do you actually read my fucking posts?  "initial breezes" I said. :Old:

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