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Property prices
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By (user no longer on site)
over a year ago
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If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage. |
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"Has anyone seen a fall in property prices..also lack of buyers everyone is scared to commmit due to unemployment rising..in the recession due."
Economists reckon they will fall between 15 to 20 % good time to buy up a few and rent them to them out to unemployed
If you want an good investment |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"Has anyone seen a fall in property prices..also lack of buyers everyone is scared to commmit due to unemployment rising..in the recession due.
Economists reckon they will fall between 15 to 20 % good time to buy up a few and rent them to them out to unemployed
If you want an good investment "
It’s not that easy, unemployed tenants can be a lot of work, even with guaranteed rent. We sold a few properties and got out of renting about 7 years ago , if we were to do it again it would be new builds to working families on long term contracts. You can get £1000 pcm on a £250k 3 bed semi up here in the midlands, I would 150k capital in, there’s still a risk to the capital if we go into depression |
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By (user no longer on site)
over a year ago
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"If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage. "
Their usual trick hold onto land until the value increases then charge a fortune for a poorly built house. They make around 40k+ pure profit per house on average. Should be made to sell land if they don't build. |
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By *osweet69Couple
over a year ago
portsmouth |
"If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage.
Their usual trick hold onto land until the value increases then charge a fortune for a poorly built house. They make around 40k+ pure profit per house on average. Should be made to sell land if they don't build. "
What if it is not financially viable for them to build because the bottom has dropped out the market. |
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By (user no longer on site)
over a year ago
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"If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage.
Their usual trick hold onto land until the value increases then charge a fortune for a poorly built house. They make around 40k+ pure profit per house on average. Should be made to sell land if they don't build. What if it is not financially viable for them to build because the bottom has dropped out the market. "
Point is it is viable for them to build 100%. |
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"Has anyone seen a fall in property prices..also lack of buyers everyone is scared to commmit due to unemployment rising..in the recession due.
Won't happen ...."
Nice to see an optimist here.(My normal view!) However on this occasion I fear all the evidence is against this prediction as a global recession is forecast, At best America's economy is stagnant and the rest of Europe is not looking any better. As China was already in hold unfortunately there will be no redress coming from them for causing this world wide fiasco ?  |
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By (user no longer on site)
over a year ago
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"If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage.
Their usual trick hold onto land until the value increases then charge a fortune for a poorly built house. They make around 40k+ pure profit per house on average. Should be made to sell land if they don't build. "
Sell to who? Lol always amazes me how people who spend all their money want to tell those that have saved theirs how they should spend it lol
People shouldn't be allowed two phones, cars, game stations, must sell old one first...... How far do you want to take this lol the environment is an important issue to! |
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By (user no longer on site)
over a year ago
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"Has anyone seen a fall in property prices..also lack of buyers everyone is scared to commmit due to unemployment rising..in the recession due.
Economists reckon they will fall between 15 to 20 % good time to buy up a few and rent them to them out to unemployed
If you want an good investment "
I wouldn’t buy a buy to let before the market crashes |
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"Has anyone seen a fall in property prices..also lack of buyers everyone is scared to commmit due to unemployment rising..in the recession due.
Economists reckon they will fall between 15 to 20 % good time to buy up a few and rent them to them out to unemployed
If you want an good investment
I wouldn’t buy a buy to let before the market crashes "
Nobody will we people with the ready cash will sit and wait till it bottoms out
Then buy buy buy and reap the rewards
Of guarantee returns from the governments 20 plus property’s rented already sat waiting for the next ones
To buy up  |
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Interestingly I’ve noticed the properties coming on the market in the last 3-5 days are way overpriced. Clearly they are trying to mitigate any slump.
I’m not sure I see a crash. I certainly see a slowing of the market and some changes with supply/demand which ultimately affects prices.
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"
Nobody will we people with the ready cash will sit and wait till it bottoms out
Then buy buy buy and reap the rewards
Of guarantee returns from the governments 20 plus property’s rented already sat waiting for the next ones
To buy up "
Shitehawks. |
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"
Nobody will we people with the ready cash will sit and wait till it bottoms out
Then buy buy buy and reap the rewards
Of guarantee returns from the governments 20 plus property’s rented already sat waiting for the next ones
To buy up
Shitehawks. "
Why is that then ? if it wasn’t for people like us providing safe family homes for people to live in where would they live
As councils sold off most of there property
We investt what we earn in property don’t blow it on stupid shit that devalues soon as you buy it
Shame more people don’t have the same drive and ambition to provide this
For family’s
yes we make a few quid over time but then we take all the risk
With risk comes reward  |
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By (user no longer on site)
over a year ago
|
"
Nobody will we people with the ready cash will sit and wait till it bottoms out
Then buy buy buy and reap the rewards
Of guarantee returns from the governments 20 plus property’s rented already sat waiting for the next ones
To buy up
Shitehawks.
Why is that then ? if it wasn’t for people like us providing safe family homes for people to live in where would they live
As councils sold off most of there property
We investt what we earn in property don’t blow it on stupid shit that devalues soon as you buy it
Shame more people don’t have the same drive and ambition to provide this
For family’s
yes we make a few quid over time but then we take all the risk
With risk comes reward "
******************************
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X  |
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"
Why is that then ? if it wasn’t for people like us providing safe family homes for people to live in where would they live
As councils sold off most of there property "
And weren't allowed to build more to replace what they'd sold.
"We investt what we earn in property don’t blow it on stupid shit that devalues soon as you buy it "
This is very telling of your attitude. Are you saying that people who aren't in a position to buy are in this situation because they blow their money on stupid shit?
"Shame more people don’t have the same drive and ambition to provide this
For family’s"
Oh yes, that's why you're doing it. For families. You're practically Jesus Christ.
It's a shame that more people can't buy a house to live in themselves, because of the ludicrous prices and the fact that shitehawks have bought them all. Of course, if prices come down in the recession maybe they'd stand a chance, but not if they've lost their jobs.
"yes we make a few quid over time but then we take all the risk
With risk comes reward "
When I was a young renter, I vowed to buy my own place as soon as I could because I was sick and tired of shitehawk landlords. Luckily I could and did.
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"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X "
Is there a single TV/TS contributor to these forums who isn't massively right wing? |
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"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?"
Maybe they got bored of the intolerant left ??? |
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Waiting and seeing before I enter the buy to let market again. Done the best I can to support my tenants at the moment.
Stuck half my reserves in premium bonds the rest in shares. Don’t like it sitting idle. |
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"If you look most major lenders are forecasting a min of 5% drop in value, major developers are not looking to start new developments and may stop or slow down existing developments. The big growth area will be rental properties where there is forecast a shortage.
Their usual trick hold onto land until the value increases then charge a fortune for a poorly built house. They make around 40k+ pure profit per house on average. Should be made to sell land if they don't build. "
Perhaps just put a time limit on planning permission. After all, the housing situation might be different three years later, depending on what other development has taken place near by. |
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By (user no longer on site)
over a year ago
|
"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?"
Yes, and all of the other TV/TS folk I know (which is quite a few) who aren't on here are also left leaning.
Takes all sorts I suppose. |
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"
Nobody will we people with the ready cash will sit and wait till it bottoms out
Then buy buy buy and reap the rewards
Of guarantee returns from the governments 20 plus property’s rented already sat waiting for the next ones
To buy up
Shitehawks.
Why is that then ? if it wasn’t for people like us providing safe family homes for people to live in where would they live
As councils sold off most of there property
We investt what we earn in property don’t blow it on stupid shit that devalues soon as you buy it
Shame more people don’t have the same drive and ambition to provide this
For family’s
yes we make a few quid over time but then we take all the risk
With risk comes reward "
Not attacking you, but councils didn't want to sell off their housing stock, that was forced on them by Thatcher's government. |
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By *eah BabyCouple
over a year ago
Cheshire, Windermere ,Cumbria |
Said on the news last night there was a surge in people looking to buy houses so can’t see prices dropping if there’s a shortage and the rental market is crazy at the minute in our area, not enough rental houses available, they are crying out for them. |
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"Said on the news last night there was a surge in people looking to buy houses so can’t see prices dropping if there’s a shortage and the rental market is crazy at the minute in our area, not enough rental houses available, they are crying out for them. "
I hope you are right. I need to sell my house and use the equity to find my retirement- ideally France or Spain if they will still have us.
Hoping that someone wants to escape London and pay over the odds for a 300 year old detached cottage with big garden in the Cambridge countryside.
I guess it will take a while for things to settle and the real picture to emerge. Fingers crossed. |
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By (user no longer on site)
over a year ago
|
"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?"
****************************
Do NOT speak for me, son.
You know absolutely nothing about my politics.
Take care.
Eva. |
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By (user no longer on site)
over a year ago
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"Interestingly I’ve noticed the properties coming on the market in the last 3-5 days are way overpriced. Clearly they are trying to mitigate any slump.
I’m not sure I see a crash. I certainly see a slowing of the market and some changes with supply/demand which ultimately affects prices.
"
I think this is the case. I also got greedy and planned and buying now. But I see the same overpriced properties everywhere. I think many people took their properties off the market resulting in supply reduction which ended up matching demand reduction. It all depends on how markets recover after everything opens up again. |
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My house was up for sale before the lockdown and I have had the estate agents on my case for people to view again
He seems to think the period of time people had to spend at home has either made them feel like a change from where they live / their house and obv they’ve had the time to sit and scroll through Rightmove
I don’t want the price to drop as I need h half out of the equity I have to share with the ex husband  |
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"Prices won't go down, the building industry controls the price. If they see it slipping they cut back on building new, thus increasing demand. "
Let’s hope Yr right then let’s hope it’s not 2008 al over again when builders kept building new homes and were left with a big stock of them which in it self brought prices down its gonna be a buyers market where cash will be king millionaires will make more as always |
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There is an insane preoccupation in this country about ownership of land and or property on it and the entitlement to profit from that. It is about time that came to an end but it will not happen in my life time.
Right now those who are entitled to live off the backs of those who work to earn thier pay, and those who have worked hard to pay off up to ten times the original price of what they exist in are justifiably worried that they are about to be devalued. No one wants that to happen, so that is relatable. Buy to rent landlords could find themselves having to increase rent simply because they cannot afford thier repayments so tenants beware because all rents will increase as you will have nowhere else to go. The huge population of people mortgaged to thier eyeballs could find themselves paying off negative equity. That is assuming they can afford to pay at all since the service they once provided to society may not nessesarily hold any value any more now we have learnt we no longer need it from them. Big changes are coming for everyone so maybe we all need to start lowering our expectations. Now pass me the whiskey. Cheers. |
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"There is an insane preoccupation in this country about ownership of land and or property on it and the entitlement to profit from that. It is about time that came to an end but it will not happen in my life time.
Right now those who are entitled to live off the backs of those who work to earn thier pay, and those who have worked hard to pay off up to ten times the original price of what they exist in are justifiably worried that they are about to be devalued. No one wants that to happen, so that is relatable. Buy to rent landlords could find themselves having to increase rent simply because they cannot afford thier repayments so tenants beware because all rents will increase as you will have nowhere else to go. The huge population of people mortgaged to thier eyeballs could find themselves paying off negative equity. That is assuming they can afford to pay at all since the service they once provided to society may not nessesarily hold any value any more now we have learnt we no longer need it from them. Big changes are coming for everyone so maybe we all need to start lowering our expectations. Now pass me the whiskey. Cheers. "
It all about supply and demand  |
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"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?"
I'm not massively right wing. I don't care if people use their money to buy houses and rent them out, either.
It does bother me that successive right wing governments (including New Labour) gave them the opportunity to exploit a housing shortage of those governments' making; whilst making house values the basis of a massive unsustainable, greed-based, credit-boom that they were only too keen to encourage.
That's what led to the 2008 Crash. They've learned fuck all from it. They'll learn fuck all from Covid 19. |
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By (user no longer on site)
over a year ago
|
"There is an insane preoccupation in this country about ownership of land and or property on it and the entitlement to profit from that. It is about time that came to an end but it will not happen in my life time.
Right now those who are entitled to live off the backs of those who work to earn thier pay, and those who have worked hard to pay off up to ten times the original price of what they exist in are justifiably worried that they are about to be devalued. No one wants that to happen, so that is relatable. Buy to rent landlords could find themselves having to increase rent simply because they cannot afford thier repayments so tenants beware because all rents will increase as you will have nowhere else to go. The huge population of people mortgaged to thier eyeballs could find themselves paying off negative equity. That is assuming they can afford to pay at all since the service they once provided to society may not nessesarily hold any value any more now we have learnt we no longer need it from them. Big changes are coming for everyone so maybe we all need to start lowering our expectations. Now pass me the whiskey. Cheers.
It all about supply and demand "
Before Covid, perhaps, however we are now beginning to see the economic results of the pandemic in terms of thousands of redundancies, and who knows how many people will eventually end up losing their jobs or face wage reductions.
If it runs into millions, and it may well do, then how are those unfortunate people supposed to pay their rent or mortgage?
I think it's rather unlikely that house prices will avoid a fall in the short to medium term, as repossessions and people handing back their keys will swamp the market and make price reductions inevitable.
This may well bolster the rental market in the short term, however if people have no income other than welfare, or have had their income reduced, then how are they going to afford the rental payments being asked at the moment?
Frankly, I think this pandemic could lead to a reduction in prices across the whole of the UK property market.
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Rather morbidly I was told by an estate agent that there will be an increase in housing stock due to Covid 19 and the elderly population sadly dying.
He expects that several nice properties in villages round here will be on the market soon. |
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By (user no longer on site)
over a year ago
|
"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?"
 I've picked that up as well over the past few weeks. I did have an alternative TV/TS translation but I'll prob get banned so I'll keep it to myself. 
On the subject of property prices I've not noticed them lowering at all. I live fairly near the BBC in Salford and prices went through the roof in shithole areas as soon as Media City popped up. Squalid terrace houses that aren't worth more than £500 a month in rent have been bought up en-masse by landlords charging £400 a month per room. It's an absolute joke.
I don't own and it'll be 18 months before I've probably got a decent enough deposit together to buy. Unfortunately I'll be paying way over the odds or I'll need to move out of the area to afford something half decent.
As for new builds, the developers can shove them up their arse sideways.  Crap build quality and you get fleeced by management companies for work they never carry out. They've knocked down thousands of well built terraces round here and replaced them with new builds at 2.5x the cost of what the terrace would've cost.
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"It all about supply and demand
It’s all about investment for the future. Unless you have another ‘asset’ that might be worth over £100,000 in case of emergencies."
I think iv got that well sorted thanks |
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"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?
I've picked that up as well over the past few weeks. I did have an alternative TV/TS translation but I'll prob get banned so I'll keep it to myself.
On the subject of property prices I've not noticed them lowering at all. I live fairly near the BBC in Salford and prices went through the roof in shithole areas as soon as Media City popped up. Squalid terrace houses that aren't worth more than £500 a month in rent have been bought up en-masse by landlords charging £400 a month per room. It's an absolute joke.
I don't own and it'll be 18 months before I've probably got a decent enough deposit together to buy. Unfortunately I'll be paying way over the odds or I'll need to move out of the area to afford something half decent.
As for new builds, the developers can shove them up their arse sideways. Crap build quality and you get fleeced by management companies for work they never carry out. They've knocked down thousands of well built terraces round here and replaced them with new builds at 2.5x the cost of what the terrace would've cost.
"
Think a lot of trans are very open minded, it sort of comes with the territory doesn't it? Stepping in and out of various social arenas ..... The have nots often seem to think the haves some how magically got things lol they normally think this while talking to mates sat out side a pub lol
In fact I was once responsible for dishing out over time, it was always the same staff who did it, the others were going out, watching football some bollocks BUT at the end of the year we had to publish it for transparency reasons, and when they saw some had ended up earning £4,000 more than them they all complained lol |
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By (user no longer on site)
over a year ago
|
"
Well said.
Some people are content to buy junk and fritter money away ALL their sad lives.
Then whine & berate those who are thrifty.
Screw 'em...!!
Eva X
Is there a single TV/TS contributor to these forums who isn't massively right wing?
I've picked that up as well over the past few weeks. I did have an alternative TV/TS translation but I'll prob get banned so I'll keep it to myself.
On the subject of property prices I've not noticed them lowering at all. I live fairly near the BBC in Salford and prices went through the roof in shithole areas as soon as Media City popped up. Squalid terrace houses that aren't worth more than £500 a month in rent have been bought up en-masse by landlords charging £400 a month per room. It's an absolute joke.
I don't own and it'll be 18 months before I've probably got a decent enough deposit together to buy. Unfortunately I'll be paying way over the odds or I'll need to move out of the area to afford something half decent.
As for new builds, the developers can shove them up their arse sideways. Crap build quality and you get fleeced by management companies for work they never carry out. They've knocked down thousands of well built terraces round here and replaced them with new builds at 2.5x the cost of what the terrace would've cost.
Think a lot of trans are very open minded, it sort of comes with the territory doesn't it? Stepping in and out of various social arenas ..... The have nots often seem to think the haves some how magically got things lol they normally think this while talking to mates sat out side a pub lol
In fact I was once responsible for dishing out over time, it was always the same staff who did it, the others were going out, watching football some bollocks BUT at the end of the year we had to publish it for transparency reasons, and when they saw some had ended up earning £4,000 more than them they all complained lol "
Some trans are open minded, and some aren't, like the rest of the population.
I've seen some comments from TV's on here and especially another well known trans site, that would give Trump a run for his money. Some idiot even wanted to use gunboat diplomacy after Brexit to take what we needed  .
Anyway, I digress, this thread is about property prices, not lunatics.
Oh, and despite being left leaning, I've owned my own property since 1986 and I don't begrudge anyone anything they've worked for, any more than I look down on people for not being so fortunate. |
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By *ENGUYMan
over a year ago
Hull |
Regional news here in the Midlands reported yesterday that estate agencies have reported extreme levels of enquiries from people wishing to buy houses.
In particular, people are looking at moving out of cities into more rural areas.
My brother & family live in Derbyshire and had a buyer lined up to buy their home, but the ban on house sales in COVID19, stopped that.
But when restrictions were relaxed, enquiries have flooded in again & people seeking to view asap, with full intention to purchase. |
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By (user no longer on site)
over a year ago
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"Regional news here in the Midlands reported yesterday that estate agencies have reported extreme levels of enquiries from people wishing to buy houses.
In particular, people are looking at moving out of cities into more rural areas.
My brother & family live in Derbyshire and had a buyer lined up to buy their home, but the ban on house sales in COVID19, stopped that.
But when restrictions were relaxed, enquiries have flooded in again & people seeking to view asap, with full intention to purchase. "
It's up to them how they spend their money of course, but personally I wouldn't even consider buying a property until the dust from this pandemic has settled. Anyway, estate agents have a vested interest in keeping housing activity going, but will the market interest extend beyond the next month or so or is it simply a bubble? We'll have to wait and see, I suppose. |
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1.7% drop is based on the slowdown. The recession wont last long because the economy will show growth from the time we reopen and by Q3 things will be highet than Q2. Confidence will return. A 20% drop wont happen. It didn't after 2008. Growth will slow though |
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By *arksxMan
over a year ago
Leicester / London |
"1.7% drop is based on the slowdown. The recession wont last long because the economy will show growth from the time we reopen and by Q3 things will be highet than Q2. Confidence will return. A 20% drop wont happen. It didn't after 2008. Growth will slow though "
All hail the money market God. He of all knowledge and power of financial markets.
The last 3 ex UK finance ministers have just given evidence to a select committee and said "we dont know how the economy will react when it reopens"
If the government has any sense they will have a playbook for both an up swing and downturn in the economy.
I hope those who are confident on here and right.
But my money is hedged and buying a house just after a global pandemic and on the cusp of financial recession not to mention the uncertainty of brexit.
The you better have balls as big as most people's profiles claim they are on here.
My economic outlook...expect more economic instability but if you are buying a house expecting to move within 5 years. You are pretty much guaranteed to loose money no matter what the economy is doing.
Property is (usually) a longterm investment
A home is somewhere to live. Dont let your mortgage advisor conflate the two |
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By (user no longer on site)
over a year ago
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"1.7% drop is based on the slowdown. The recession wont last long because the economy will show growth from the time we reopen and by Q3 things will be highet than Q2. Confidence will return. A 20% drop wont happen. It didn't after 2008. Growth will slow though "
I wish I could share your optimism, but I think you're forgetting about a no-deal Brexit just around the corner, and the government seem determined that that is going to happen whatever the economic consequences.
what we're facing over the next year or so will make 2008 seem like losing a quid down the back of the sofa. A possible 35% hit on the economy won't be easy to come back from.
Unless Jonhson and co are bluffing of course, but somehow I don't think that they are.
In that worst case scenario, house prices could be the least of our worries. |
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