Boomed & Foxton's

[Hart-floot]

I see Fuxton's are selling up - What can they see coming? Must be a sure sign that the London housing market is going to go belly up. Rats leaving the sinking ship etc etc

http://news.bbc.co.uk/1/hi/business/6678537.stm

"London estate agency Foxtons has been sold to private equity firm BC Partners for an undisclosed amount, reported to be about £400m.
Set up in 1981, the firm has 20 branches in London and the south-east of England and generated sales of more than £100m last year.

Foxtons and sister firm Alexander Hall, a mortgage broker also being sold, were owned by their founder Jon Hunt.

Like other agents, Foxtons has benefited from London's property boom"

[Vito]

I suspect they saw a cheque for £390m coming...

This is just another opportunity for the press to scare everyone...house prices will never go down...

[pickle]

house prices will never go down...

Its just around the corner.

http://news.independent.co.uk/busine...cle2568036.ece

Or maybe your right, they can only ever go up....

[Vito]

The prices can't go up every month, and certainly not at the rate we are used to recently, and there may be an odd blip where they dip for a couple of weeks...but year on year house prices will rise unless there is a major international conflict...

Baz got it right...

Accept certain inalienable truths, prices will rise, politicians will philander,
you too will get old and when you do you’ll fantasize that when you were young prices were reasonable, politicians were noble and children respected their elders

[sasguru]

...but year on year house prices will rise unless there is a major international conflict...

In the long term, yes ...

[pickle]

and there may be an odd blip where they dip for a couple of weeks...

Righteo..... the last "blip" lasted over 7 years. see the chart.

http://www.in2perspective.com/nr/sta...8D0013099356EF

Of course, this time its different. Nothing to see here, move along...

[Vito]

Righteo..... the last "blip" lasted over 7 years. see the chart.

http://www.in2perspective.com/nr/sta...8D0013099356EF

Of course, this time its different. Nothing to see here, move along...

Indeed...but the world is a very different place 12 years on...

[pickle]

Indeed...but the world is a very different place 12 years on...

Yes of course. Its different this time. The new economy and all that....

[Churchill]

Yes of course. Its different this time. The new economy and all that....

Oh yessss.....

We've never had it so good...

Hmmm, that sounds vaguely familiar...

[TheRightStuff]

I'm in the process of selling and buying. I've had to drop the asking price by 10K. Agreed it was slightly over priced but I'm not in a hurray so worth a go.
Didn't even have a stupid offer after 8 viewings. It is on a mainish road but you would of thought some one would have made a cheeky offer.

After the price droped I've only had one person come round in the last 2-3 weeks.
The house has been completly modernised over the last 5 yrs.
I spoke to the estate agent this morning and they said last weekend they had hardly any activity. Usually at the weekend they are always out of the office.
The market has changed considerably over the last few weeks. We've seen many other propertys have had to drop there prices or have also been on the market for months. A couple we have put offers in for but they were rejected as we hadn't sold. However, the asking price on those houses has now come down to our original offer price.
I've also got a friend who are also trying to sell there house and they can't sell either. They don't live on a main road and their house is really nice. He's willing to take a 40K (nearly 8%) hit as he wants to move up the ladder. He's also not in a hurray as the place he wants to buy is around the 700K price. He's saying that all the propertys he's seen at that price are rubbish. Not that much more space and alot of work to be done on them.