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Proof the housing market has peaked


With a crooked smile

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Green Devil

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

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4 hours ago, Frank Hovis said:

There is a plus with this in that if not working you can put in about £2.5k each year and still reclaim the tax up to 75.

I'm doing exactly this. £2880 from me and I get £720 pa tax free from the gvt to invest which is not to be sneezed at.

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6 hours ago, Green Devil said:

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

Ive just looked, and there doesnt seem to be much on the market.

Vaguely thinking of becoming a BTLer and buying a house in York for circa 200k, will borrow 50%.

No rush though as prices should fall once the SDLT holiday nears an end.

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17 hours ago, janch said:

I'm doing exactly this. £2880 from me and I get £720 pa tax free from the gvt to invest which is not to be sneezed at.

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

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Frank Hovis
4 hours ago, BWW said:

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

As I have often pointed out: you don't have to.

You may however passively choose to do so by not doing anything.

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4 hours ago, BWW said:

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

I hope not to draw on it and it will be passed on to my kids. 

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May be early on this, but this is the first week I’ve noticed a number of reductions in the midlands. March, April and first week of May were nuts- things came up and sold very quickly- no reductions, but last 3 weeks seems to have softened.

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On 10/06/2021 at 14:55, Green Devil said:

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

3 bed semis are selling fast I suspect this will be gone within a week .https://www.rightmove.co.uk/properties/108606659?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard

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On 10/06/2021 at 21:58, Hancock said:

No rush though as prices should fall once the SDLT holiday nears an end.

I think the Sdlt holiday finishes in September. On that basis I will probably start looking at some properties from then. 

 

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Just now, UmBongo said:

I think the Sdlt holiday finishes in September. On that basis I will probably start looking at some properties from then. 

 

When chains have broken just after could be a good time.

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I don't understand the mad rush to complete before the SDLT holiday ends. All that's happened is prices have gone up but the SDLT saving, leveraged. These people are effectively rushing to add 50 or 60 grand to their outstanding mortgage amounts.

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  • 2 weeks later...

Too many threads on housing at the moment but thought I would add here.

Large new development 2,000 homes, planning approved close to me. Land has been acquired by Taylor Wimpy.

Flyer from Wimpey posted though all local letterboxes. They are planning to start on site September 21. Start building homes August 23. First Homes for sale Feb 24. Then build 60 home per year for 17years!

Think that means they think the housing market is buggered!

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One percent
4 minutes ago, Bilbo said:

Too many threads on housing at the moment but thought I would add here.

Large new development 2,000 homes, planning approved close to me. Land has been acquired by Taylor Wimpy.

Flyer from Wimpey posted though all local letterboxes. They are planning to start on site September 21. Start building homes August 23. First Homes for sale Feb 24. Then build 60 home per year for 17years!

Think that means they think the housing market is buggered!

Or they are lying to you in the hope of limiting objections. 

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Just now, One percent said:

Or they are lying to you in the hope of limiting objections. 

Don't think so this has been an ongoing plan for over 10years. Think the locals tried everything to stop it. They just want it finished now. New school, health center and new roads promised. But if only 60homes per year when will the facilities happen.

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leonardratso
1 hour ago, Bilbo said:

Don't think so this has been an ongoing plan for over 10years. Think the locals tried everything to stop it. They just want it finished now. New school, health center and new roads promised. But if only 60homes per year when will the facilities happen.

in 17 years.

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1 hour ago, Bilbo said:

Don't think so this has been an ongoing plan for over 10years. Think the locals tried everything to stop it. They just want it finished now. New school, health center and new roads promised. But if only 60homes per year when will the facilities happen.

Only at the end (if Wimpey are forced to build them). 

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As someone said too many property price topics to click on, any chance of a pinned house price topic to solve that @spunko

Anyway ive been to York today and looked at a couple of houses from the outside.

This one is tiny when seen in the flesh, and looks as if it needs £40 to 50k spent on it, to get it up to a decent standard. But the houses in the street looked as if they'd barely had a penny spent on them.image.png.9e1eb81c898464c6cee4bca8813a6cc4.pnghttps://www.rightmove.co.uk/properties/80414181#/

The other one was this, wasn't even worth the hassle of getting out the car it was so bad for the money when viewed up close.

image.png.38cce485fc2876d497623a3a2b4d7849.png

https://www.rightmove.co.uk/properties/90048826#/
 

Last few years £200,000 would have got you a 20 year old 3 bed house such as this ... now up to £270,000!

image.png.d7b50c0a95c440e12892aeaa19cd9904.png

https://www.rightmove.co.uk/properties/90516112#/

 

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13 minutes ago, Hancock said:

As someone said too many property price topics to click on, any chance of a pinned house price topic to solve that @spunko

Anyway ive been to York today and looked at a couple of houses from the outside.

This one is tiny when seen in the flesh, and looks as if it needs £40 to 50k spent on it, to get it up to a decent standard. But the houses in the street looked as if they'd barely had a penny spent on them.image.png.9e1eb81c898464c6cee4bca8813a6cc4.pnghttps://www.rightmove.co.uk/properties/80414181#/

The other one was this, wasn't even worth the hassle of getting out the car it was so bad for the money when viewed up close.

image.png.38cce485fc2876d497623a3a2b4d7849.png

https://www.rightmove.co.uk/properties/90048826#/
 

Last few years £200,000 would have got you a 20 year old 3 bed house such as this ... now up to £270,000!

image.png.d7b50c0a95c440e12892aeaa19cd9904.png

https://www.rightmove.co.uk/properties/90516112#/

 

Surprised the tight Yorkshire cunts are willing to pay that kinda price. 

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12 hours ago, Phil said:

Can’t wait till late September …… let em 🔥 

Only problem with that is ftb'ers wouldnt have to pay SDLT on these houses anyway.

See what happens but i'm kind of resigned to no crash happening, the average home owner would sooner be shot than accept their house isn't a money making machine, thus lowering the price.

Need interest rates to rise to above 2%.

 

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Unemployment will be the thing imo. I work in construction, and know loads of 25 + who say they have no chance of getting their own (mortgaged) house, even picking up net 500 to 600 a week (labourers) 750- 800 trades Most it's not lifestyle, its banks who view SE con workers as high risk. Current market is mental. Makes me ask, if earning so much in a booming house market, why not give SE the chance of getting the debt, if banks are so confident of continuing Hpi? 

I'm pretty confident after reading lots of what I consider valid points on this thread , before xmas it goes tits up.

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3 hours ago, Phil said:

Unemployment will be the thing imo. I work in construction, and know loads of 25 + who say they have no chance of getting their own (mortgaged) house, even picking up net 500 to 600 a week (labourers) 750- 800 trades Most it's not lifestyle, its banks who view SE con workers as high risk. Current market is mental. Makes me ask, if earning so much in a booming house market, why not give SE the chance of getting the debt, if banks are so confident of continuing Hpi? 

I'm pretty confident after reading lots of what I consider valid points on this thread , before xmas it goes tits up.

I hope you're correct but i am growingly pessimistic. 

Hence why i'm looking to get the fuck out this dreadful country.

Are labourers really on 600 a week? 

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Green Devil
1 hour ago, Hancock said:

I hope you're correct but i am growingly pessimistic. 

Hence why i'm looking to get the fuck out this dreadful country.

Are labourers really on 600 a week? 

Yes 100-125 a day is the going rate. 

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