Am I the only person who think house prices will go up?

[Green Devil]

5 minutes ago, Fully Detached said:

Although I despise the expression, there genuinely is some "pent up demand" out there - we've lost nearly a whole quarter due to the lockdown and there will be some people who have cash burning holes in their pockets. My sister, who I visited the place with yesterday, is a perfect example. Recently divorced, wants to buy a 3 bed semi as a place to rent out or live in if it doesn't work out with her new partner. And wants to do it asap:

Walks in through the front door and says to the agent, "Ooh isnt it lovely!". FFS.

Agent tells her there's another "cheeky offer" on the table already but the vendor is not inclined to accept. FFS

Sister asks him how the vendor would react to an offer of 5% below asking. FFS.

Agent says "He'd seriously consider it". No shit.

I talk about the BoE, Nationwide, casually mention the worst economic situation this country has known for 300 years, and hustle sister out the door before this gets any worse. Agent looks at me like he wants to shit on my head.

Sister calls me 2 hours after the viewing. The agent has called her. The vendor has decided to accept the other bloke's "cheeky" offer. Of course he has. Sister tells me she's going to offer 5% below asking. FFS.

Sister tells me she's spoken to two other people about it and they both think it's a bargain. They're both estate agents. FFS.

The above is 100% true. We need these people to spunk their cash and get out of the way before the rest of us can get in there and negotiate seriously. Similar on the lettings side - lots of people split up or deciding to move after the lockdown all hustling each other for the same places.

Let them all fight over the canapes, I'll save my ammo for the main course.

Was he driving a new merc as well? 

[Fully Detached]

56 minutes ago, Green Devil said:

Was he driving a new merc as well? 

No he was in a Beamer estate twat mobile.

[Option5]

OK, admission time.

My daughter was married to a prison officer, they got divorced. Well I assumed that things could only get better.

She called to tell me about her new guy, "what does this one do for a living" I enquired, my hopes were dashed when she told me.

Estate Agent  !!!! Arrrrggggghhhhhh

 Advice please, should I disown her?

[Don Coglione]

5 minutes ago, Option5 said:

OK, admission time.

My daughter was married to a prison officer, they got divorced. Well I assumed that things could only get better.

She called to tell me about her new guy, "what does this one do for a living" I enquired, my hopes were dashed when she told me.

Estate Agent  !!!! Arrrrggggghhhhhh

 Advice please, should I disown her?

Make sure she doesn't get the Integrale - he'll make her chop it in for some German shite!

[TheCountOfNowhere]

7 minutes ago, Option5 said:

OK, admission time.

My daughter was married to a prison officer, they got divorced. Well I assumed that things could only get better.

She called to tell me about her new guy, "what does this one do for a living" I enquired, my hopes were dashed when she told me.

Estate Agent  !!!! Arrrrggggghhhhhh

 Advice please, should I disown her?

Is honour killings allowed in such circumstances ? ( only joking of course !!!! )

[Option5]

1 minute ago, TheCountOfNowhere said:

Is honour killings allowed in such circumstances ? ( only joking of course !!!! )

Honour?

Estate Agent? 

😂😂😂😂😂

Behave!

[TheCountOfNowhere]

5 minutes ago, Option5 said:

Honour?

Estate Agent? 

😂😂😂😂😂

Behave!

Your honour, not his 

Look on the brightside...he'll be able to get his mates a good deal on an over priced s**thole.  Hang on, mates/estate agent does not compute

[Option5]

1 minute ago, TheCountOfNowhere said:

Your honour, not his 

Yes, your honour.

[Fully Detached]

Sigh.

Sister put in an offer of 6% below asking this morning and amazingly enough had it accepted within about 3 seconds. Still, she's not worried if prices drop because she got an "AWESOME" deal here, so doubts she will lose any money.

There's one less to compete against in 3 months time.

[No One]

On 03/06/2020 at 10:30, Mike Roberts said:

https://www.dailymail.co.uk/news/article-8382097/Boris-Johnson-willingly-offer-THREE-MILLION-people-Hong-Kong-refuge-UK.html

Import hundreds of thousands of Hong Kong Chinese who are already conditioned to paying extortionate prices to live in tiny slave boxes. 

Job done, property market saved.

This is what I was thinking actually

[Green Devil]

4 hours ago, Option5 said:

OK, admission time.

My daughter was married to a prison officer, they got divorced. Well I assumed that things could only get better.

She called to tell me about her new guy, "what does this one do for a living" I enquired, my hopes were dashed when she told me.

Estate Agent  !!!! Arrrrggggghhhhhh

 Advice please, should I disown her?

Fuck you poor bastard. Make it clear that be needs to change his profession. AND Pronto if he intends to be on speaking terms with his father in law. 

[The Idiocrat]

4 hours ago, Option5 said:

OK, admission time.

My daughter was married to a prison officer, they got divorced. Well I assumed that things could only get better.

She called to tell me about her new guy, "what does this one do for a living" I enquired, my hopes were dashed when she told me.

Estate Agent  !!!! Arrrrggggghhhhhh

 Advice please, should I disown her?

She’s obviously rebelling against her father with that record! You need a bit of reverse psychology - tell her how much you like the EA, how he has a stable career, and that she should “snap him up” before someone else does. She’ll dump him in no time.

[Option5]

2 hours ago, Green Devil said:

Fuck you poor bastard. Make it clear that be needs to change his profession. AND Pronto if he intends to be on speaking terms with his father in law. 

To do that I'd have to speak to him for the first time 

[Option5]

2 hours ago, The Idiocrat said:

She’s obviously rebelling against her father with that record! You need a bit of reverse psychology - tell her how much you like the EA, how he has a stable career, and that she should “snap him up” before someone else does. She’ll dump him in no time.

Spunko!

We need a down arrow 

[Democorruptcy]

Since it launched on May 4th, up to May 31st the Bounce Back Loan Scheme (BBLS) has approved £21.29bn across 700,000 successful applications, almost £1bn a day!

[Option5]

44 minutes ago, Option5 said:

Spunko!

We need a down arrow 

She's a criminal psychologist!!!

[Castlevania]

On 05/06/2020 at 10:39, Frank Hovis said:

I would say that it's an indirect consequence of the Grenfell fire.

Mugs have been buying these flats cheaply, either to live in or to rent out, without realising that they are cheap for a reason.

When the council / housing association has to renew the roof, render or do extensive fire safety work the costs can be high. £40k per flat is not unusual.

These bills are however infrequent so people don't think about them until the letter for the first consultation event drops into their doormat.

The widespread coverage of the costs of Grenfell-triggered fire safety works has made the leasehold owners realise that instead of being "nice little earners" these flats are highly likely to be net liabilities as much as are time share apartments.

I would accept them for free, though still seeing that as a gamble, but I wouldn't consider paying actual money for one.

The costs have been obscene for years. Kensington & Chelsea council spent over £100k per flat doing the insulation cladding works that turned the building into a death trap.

I used to own an ex council flat (it was a flat in a big old Victorian villa as opposed to a post war building). My neighbour’s window frame in the loft had rotted away and needed replacing, and this was the council’s responsibility. So they have to put it out for tender. Three contractors came back with quotes. £2,500; £12,000 and £20,000. None of those are what I’d regard as good value.

[Frank Hovis]

1 hour ago, Castlevania said:

The costs have been obscene for years. Kensington & Chelsea council spent over £100k per flat doing the insulation cladding works that turned the building into a death trap.

I used to own an ex council flat (it was a flat in a big old Victorian villa as opposed to a post war building). My neighbour’s window frame in the loft had rotted away and needed replacing, and this was the council’s responsibility. So they have to put it out for tender. Three contractors came back with quotes. £2,500; £12,000 and £20,000. None of those are what I’d regard as good value.

Yes, you only really go for best value if you're the one who is paying.

[TheCountOfNowhere]

16 hours ago, Democorruptcy said:

Since it launched on May 4th, up to May 31st the Bounce Back Loan Scheme (BBLS) has approved £21.29bn across 700,000 successful applications, almost £1bn a day!

21bn of that wont eb paid back 

23 hours ago, Fully Detached said:

Sigh.

Sister put in an offer of 6% below asking this morning and amazingly enough had it accepted within about 3 seconds. Still, she's not worried if prices drop because she got an "AWESOME" deal here, so doubts she will lose any money.

There's one less to compete against in 3 months time.

Did you mean 60%?

[Fully Detached]

7 minutes ago, TheCountOfNowhere said:

Did you mean 60%?

No.

[Frank Hovis]

I think I've now fully got across to my parents, who are looking to upsize, that it doesn't matter if they don't get back what their current house cost them because house prices have fallen as it means that the more expensive house they have to buy will have fallen the same in percentage terms but will have actually fallen more in actual pounds shillings and pence so saving them money.

They now get that the concept of "cost to change" equally applies to houses as to cars which they've always known (it doesn't matter what the trade in value or new price are in isolation; only in combination).

[Fully Detached]

1 hour ago, Frank Hovis said:

I think I've now fully got across to my parents, who are looking to upsize, that it doesn't matter if they don't get back what their current house cost them because house prices have fallen as it means that the more expensive house they have to buy will have fallen the same in percentage terms but will have actually fallen more in actual pounds shillings and pence so saving them money.

They now get that the concept of "cost to change" equally applies to houses as to cars which they've always known (it doesn't matter what the trade in value or new price are in isolation; only in combination).

If your parents are anything like most people of their generation that I've met, they were probably just politely agreeing to get you to shut up. As soon as you're gone, they're back to thinking property prices dropping is somewhere akin to plagues, locusts and droughts, and property prices rising is something approaching nirvana. Problem with the youngsters is they don't understand that if they want a slice of that utopia cake, they have to work for it, see?

[Frank Hovis]

Just now, Fully Detached said:

If your parents are anything like most people of their generation that I've met, they were probably just politely agreeing to get you to shut up. As soon as you're gone, they're back to thinking property prices dropping is somewhere akin to plagues, locusts and droughts, and property prices rising is something approaching nirvana. Problem with the youngsters is they don't understand that if they want a slice of that utopia cake, they have to work for it, see?

Maybe but my parents have done extremely well from my general investment advice over the years so do accept that I know what I'm talking about.

[spunko]

Thinking there'll be government props is the new "property prices will crash"    When you least expect it, something else entirely will happen. Like a pandemic...

[Fully Detached]

1 hour ago, spunko said:

Thinking there'll be government props is the new "property prices will crash"    When you least expect it, something else entirely will happen. Like a pandemic...

I think we just need 2-3 months for some greater fools (it pains me to say it but like my sister above) to throw their cash at it and get out of the bloody way. The housing market has been shut for 3 months, although since Q1 is never a busy time, you could argue that the market has been closed for >25% of its usual annual transaction period. So there are bound to be people with cash to spend from divorce, inheritance etc, who are going to slow and drops down for a while.

Once they're out of the way, and people have gone back to work to find that their jobs are under threat, then I think things will kick off a bit. And if a second wave comes along in October, then look out below.

But I will admit to getting very frustrated at what I saw last week. You'd honestly have thought the whole lockdown thing had just been a couple of days of minor inconvenience.