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UK housing transactions down 15% yoy


sancho panza

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Now for the town near me that I posted the reductions on the New Builds above. No train station but 10 minutes drive to a few of them plus decent road links

New builds only from 1st May 2017

Average price - £372,296

Median - £339,000

Lowest - £280,000

Sold - 182

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11 minutes ago, spygirl said:

What about non new builds?

Take HTB out ofthe figures.

Those figures are purely for new builds just to correlate against what is being advertised.

For existing stock, same time frame for my town:

From 1st May 2017

Average price - £426,074

Median - £335,000

Lowest - £3,000

Sold - 721

Obviously includes plots of land etc. If I remove everything under £100k

Average price - £433,810

Median - £357,000

Lowest - £100,000

Sold - 707

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On 22/11/2018 at 11:44, A_P said:

Those figures are purely for new builds just to correlate against what is being advertised.

For existing stock, same time frame for my town:

From 1st May 2017

Average price - £426,074

Median - £335,000

Lowest - £3,000

Sold - 721

Obviously includes plots of land etc. If I remove everything under £100k

Average price - £433,810

Median - £357,000

Lowest - £100,000

Sold - 707

You seem to be around Chandlers Ford or outskirts of Soton.

Quick RM search for 3 bed semi 1 mile from Chandlers Ford which is at best an average area shows the cheapest 3 bed semi which is an excouncil house come in at 250K

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^5979&minBedrooms=3&radius=1.0&sortType=1&propertyTypes=detached%2Csemi-detached&includeSSTC=false

I looked in this area about 5 years ago such places would go for 150k.

Transcations maybe down but prices are sky high and no crash is even on the horizon.

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9 hours ago, Band said:

You seem to be around Chandlers Ford or outskirts of Soton.

Quick RM search for 3 bed semi 1 mile from Chandlers Ford which is at best an average area shows the cheapest 3 bed semi which is an excouncil house come in at 250K

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^5979&minBedrooms=3&radius=1.0&sortType=1&propertyTypes=detached%2Csemi-detached&includeSSTC=false

I looked in this area about 5 years ago such places would go for 150k.

Transcations maybe down but prices are sky high and no crash is even on the horizon.

Nope I'm further up the mainline. Transactions have slowed to a snail pace but houses will eventually go through. Big demographic change over the last twelve months very noticeable. I can only surmise londeners cashing in 

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6 minutes ago, A_P said:

Nope I'm further up the mainline. Transactions have slowed to a snail pace but houses will eventually go through. Big demographic change over the last twelve months very noticeable. I can only surmise londeners cashing in 

I used to live in Bournemouth and see the same thing happening there, must be Londoners escaping cultural enrichment pushing prices up. Absolutely no signs of a crash.

I thought Brexit, Fed reversing QE, and raising interest rates, S24 creeping in and the fact prices are utterly insane would have turned things around but its not the case.

Only thing i think will crash prices is when things are taken out the hands of the BoE as boosting/propping the price of houses up is their sole intention, and they excel at it.

 

 

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2 minutes ago, Band said:

I used to live in Bournemouth and see the same thing happening there, must be Londoners escaping cultural enrichment pushing prices up. Absolutely no signs of a crash.

I thought Brexit, Fed reversing QE, and raising interest rates, S24 creeping in and the fact prices are utterly insane would have turned things around but its not the case.

Only thing i think will crash prices is when things are taken out the hands of the BoE as boosting/propping the price of houses up is their sole intention, and they excel at it.

 

 

No sign. Spy can say all he likes about MMR but being near the Hampshire Surrey border there are enough on the conveyor belt cashing in their London riches or using a parents deposit that a property will eventually sell.

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sleepwello'nights
On ‎22‎/‎11‎/‎2018 at 10:17, Wheeler said:

That pricing strategy doesn't make much sense to me. I mean "We couldn't sell it in June for £376k so let's increase the price until it does sell". But then i'm not an EA so what do I know.

Its marketing bollocks more than anything. When we last moved in 2006 the transaction price for the houses we purchased shown on HM Land Registry was higher than the price we negotiated. Developers have tricks they can use to manipulate their selling prices to cloud the actual price achieved. 

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5 minutes ago, A_P said:

No sign. Spy can say all he likes about MMR but being near the Hampshire Surrey border there are enough on the conveyor belt cashing in their London riches or using a parents deposit that a property will eventually sell.

A Corbyn govt or the Tory party becoming capitalist could do it.

When it does go its going to be an epic crash, but apart from wishful thinking which hasnt worked out too good for a decade there is no signs at all of say 3 bed semis in an ok area coming down in price. 

Spy claimed MMR then Basel 3 was going to crash prices, he is continuously wrong.

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14 hours ago, A_P said:

No sign. Spy can say all he likes about MMR but being near the Hampshire Surrey border there are enough on the conveyor belt cashing in their London riches or using a parents deposit that a property will eventually sell.

If they are cashing out of London then mmr has no affect - cash buyers.

Selling up in London has hut a brick wall. Nice places, within 2h of London are 2nd wave crashes - driven by london money, killed by london stalling.

The issue in these places as they used to driven by people leaving london in their 30s to have kids. 

Not happening any more as most people under 40 in london have been renting.

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17 hours ago, sleepwello'nights said:

Its marketing bollocks more than anything. When we last moved in 2006 the transaction price for the houses we purchased shown on HM Land Registry was higher than the price we negotiated. Developers have tricks they can use to manipulate their selling prices to cloud the actual price achieved. 

Good job you didn't have to pay tax on that reported value back then ?   Now I guess they can not get away with it so much, as surely misreported data results in someone getting an excessive tax bill they will dispute.  Isn't the recent trick of the developer paying you back a large lump sum to pay your tax bill how they have been discounting the sale but holding up the land registry value.

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Supersized mortgages are back: Desperate homebuyers are being offered 'irresponsible' deals worth SIX times their salaries as borrowing soars to record levels

Britain's super-sized mortgages revealed

Most banks currently have a maximum loan-to-income ratio of between x4 and x4.75 a homeowners salary. 

However, some mortgage providers are offering as much as SIX times borrowers' salaries:

  • Darlington Building Society x6 
  • Barclays x5.5
  • Santander x5.5
  • Sainsbury's x5
  • Virgin x5   

SOURCE: Moneyfacts

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52 minutes ago, A_P said:

Supersized mortgages are back: Desperate homebuyers are being offered 'irresponsible' deals worth SIX times their salaries as borrowing soars to record levels

Britain's super-sized mortgages revealed

Most banks currently have a maximum loan-to-income ratio of between x4 and x4.75 a homeowners salary. 

However, some mortgage providers are offering as much as SIX times borrowers' salaries:

  • Darlington Building Society x6 
  • Barclays x5.5
  • Santander x5.5
  • Sainsbury's x5
  • Virgin x5   

SOURCE: Moneyfacts

I feel for those poor (literally) bastards being peer-pressured into a 6x mortgage. Imagine the quality of life... 

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6 minutes ago, stuckmojo said:

I feel for those poor (literally) bastards being peer-pressured into a 6x mortgage. Imagine the quality of life... 

Not sure.

The Darlo BS seems to be offe5ring up to 6x income after all regular spend is took out.

This looks like 4x incoem tops.

I cant get their mortgage calculator to work.

These high LTV - assuming people can get them,  are nothing more than an ad,

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On 22/11/2018 at 08:22, A_P said:

No?

A london commute by train is circa £4500. Train car park was full this morning and I even sublet my apartment car parking space.

New build estate in walking distance to train station has consistantly been putting the prices up. Now have they been selling or not, no idea as I've not been round there since the summer. The development at that time seemed to be pretty well sold. The below style house first were selling for £360k last year.

image.png.6391b5d9f4cd870b0b07ce3ccf99615e.png

old 3 bed terraced opposite me in very short distance to the train station sold within weeks of going up. Nice housing stock is being bought up, although I doubt it's by locals and more likely either commuters or londoners cashing in.

4500 for the commute is cheap. I live in zone 4 and it’s over 2 grand. 

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5 minutes ago, stuckmojo said:

I feel for those poor (literally) bastards being peer-pressured into a 6x mortgage. Imagine the quality of life... 

Crazy isn't it. A lifetime of indoctrination, peer pressure and FOMO and they'll happily sign on the dotted line. 

I am wondering if the article is actually more of an advert to get people to consider/explore it. Earlier in the year we were getting a lot of advertorials masquerading as articles for new builds. They seemed to have dried up as of late.

Just now, One percent said:

4500 for the commute is cheap. I live in zone 4 and it’s over 2 grand. 

Are you paying for a season pass? My partner's is £4500, was £4300 the previous year

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1 minute ago, A_P said:

Crazy isn't it. A lifetime of indoctrination, peer pressure and FOMO and they'll happily sign on the dotted line. 

I am wondering if the article is actually more of an advert to get people to consider/explore it. Earlier in the year we were getting a lot of advertorials masquerading as articles for new builds. They seemed to have dried up as of late.

Are you paying for a season pass? My partner's is £4500, was £4300 the previous year

I’m not, I work part time so pay as I go.  Daughters pay monthly so that they can time it not to pay when on leave. Just looked it up and it’s actually 1960. So cheaper than I thought. They keep messing with the fairs. Daily rate is a nightmare. There is no longer off peak.  It was 12 a day a couple of years ago, went down to 7.60 if you got an Oyster card. Now back up to 9.80. 

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image.png.b25ebcb0ebab1ecbfc477120642bd161.png

image.png.0815028f03537e3dc2bc9fb53bfbc9b2.png

image.png.f1ac501855e7ecda6f5c05e61f8117da.png

The whole reason of me using the term circa was it's very dependent on what station you go from. I am well versed in the figures though and wasn't pulling it out of the air as we've considered moving up the mainline.

1 minute ago, One percent said:

I’m not, I work part time so pay as I go.  Daughters pay monthly so that they can time it not to pay when on leave. Just looked it up and it’s actually 1960. So cheaper than I thought. They keep messing with the fairs. Daily rate is a nightmare. There is no longer off peak.  It was 12 a day a couple of years ago, went down to 7.60 if you got an Oyster card. Now back up to 9.80. 

That will explain the crazy amount then. For us it's better to go for the annual and put a claim in every time the train is late, we get quite a bit back for that

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Democorruptcy
On 24/11/2018 at 21:47, A_P said:

No sign. Spy can say all he likes about MMR but being near the Hampshire Surrey border there are enough on the conveyor belt cashing in their London riches or using a parents deposit that a property will eventually sell.

Banks lobbied successfully to have the 25 year maximum mortgage term taken out of the MMR at the last minute. Without that it's toothless, computer says 'no' to the monthly payments, just add 5 or 10 years onto the term to lower the monthly payments. The main thing it's done is make banks loads more mortgage interest and keep people working longer.  The sub prime borrowers with poor credit records are using help to buy because the lending standards are even looser.

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