Boomed!

[oracleslave]

http://news.bbc.co.uk/1/hi/business/7264519.stm

[PRC1964]

http://news.bbc.co.uk/1/hi/business/7264519.stm

It must be true. It's in the FT too.

http://www.ft.com/cms/s/0/f4e013ea-e...0779fd2ac.html

[DimPrawn]

I told you guys.

If only we could get more 3rd world immigrants here on benefits.

[Sockpuppet]

Its all the shoe shine boys getting in the on act.

Doomed I say. Doomed.

Went to a house auction last week. The house I was looking at didn't sell. No offers. None.

Most houses went 25% below the guide price which were fair valuations (well fiar ish).. The only things that went for over the guide price was land.

[oracleslave]

Its all the shoe shine boys getting in the on act.

Doomed I say. Doomed.

Went to a house auction last week. The house I was looking at didn't sell. No offers. None.

Most houses went 25% below the guide price which were fair valuations (well fiar ish).. The only things that went for over the guide price was land.

Is an auction a fair reflection though? Never been to a house auction but aren't those mostly reposessions and hence they always go for much less than the asking price?

[Pickle2]

Most houses went 25% below the guide price which were fair valuations (well fiar ish).. The only things that went for over the guide price was land.

I would say its suggests the valuations were 25% over a fair market price, rather than the other way round.

[rootsnall]

Is an auction a fair reflection though? Never been to a house auction but aren't those mostly reposessions and hence they always go for much less than the asking price?

There has been that much BTL/investor money out there that the prices at auctions have been similar to negotiated sale stuff. Infact on some of the lower end terrace property you might even of paid more !

[oracleslave]

There has been that much BTL/investor money out there that the prices at auctions have been similar to negotiated sale stuff. Infact on some of the lower end terrace property you might even of paid more !

Says who?

[DimPrawn]

UK property cannot go down. It's different this time.

[oracleslave]

UK property cannot go down. It's different this time.

Too true. Now if I had a villa in somewhere like Cyprus I'd be worried.