Purplebricks Share Discussion Threads

[dennisbergkamp] 10/9/2020 11:52

Uncertain is how I'd see it, for sure. Low interest rates will help. Possible continuation of the stamp duty holiday too. The government will want to keep things moving at a steady pace. This isn't going to be like the problems in '88 because of the rates

If you look at this as a medium to long term investment then it doesn't matter if you get in now or later on

D

[chucko1] 10/9/2020 11:37

There was a massive run-up in activity and values back in 1988 with the window for dual-MIRAS closing at some pre-specified date. Multi-year destruction thereafter - albeit also on the back of higher rates.

The clear route to much higher unemployment and less liquidity is before us and I would not rush in here. Quite the opposite.

[andy] 10/9/2020 09:26

This is the pertinent bit:


"However, the longer-term view remains more cautious."


How we can have a pandemic, millions furloughed, and under employed, and a runaway housing market is beyond my comprehension, it was overvalued pre-covid IMHO.

[pete123456] 10/9/2020 04:55

The Guardian
Confidence in UK housing market at four-year high, say estate agents
Julia Kollewe 4 hrs ago


Stamp duty cuts, coupled with increased demand for homes with gardens since the pandemic, has driven confidence in the housing market to a four-year high, according to surveyors and estate agents.

a close up of a sign: Photograph: Andrew Matthews/PA© Provided by The Guardian Photograph: Andrew Matthews/PA
A net balance of 44% of members of the Royal Institute of Chartered Surveyors (Rics) reported an increase in prices, the strongest reading since 2016, according to its latest monthly snapshot. This compares with 13% in July and marks a dramatic turnaround from the -33% registered in May. Virtually all parts of the UK are now seeing prices increase. The only exception is London, where Rics members reported that prices have remained more or less flat over the past two months.

a close up of a sign: Surveys from mortgage lenders Nationwide and Halifax show a rise in house prices.© Photograph: Andrew Matthews/PA Surveys from mortgage lenders Nationwide and Halifax show a rise in house prices.
The figures from Rics suggest a surge in interest in homes with gardens in the wake of the Covid-19 pandemic, with 83% of those surveyed expecting demand for such homes to go up over the next two years, and 79% predicting rising demand for properties near green space.

August’s pick-up in the housing market was boosted by those looking to take advantage of the stamp duty holiday, Rics said.

The cut, announced by chancellor Rishi Sunak earlier this year, means no stamp duty is due on homes below £500,000 in England and Northern Ireland – and £250,000 in Scotland and Wales – with discounts applied above those thresholds.

A net balance of 63% of surveyors and estate agents reported an increase in buyer interest over the month (those who reported lower interest were deducted from those who saw an uptick). However, the longer-term view remains more cautious.

Other surveys from the mortgage lenders Nationwide and Halifax have also shown strong rises in house prices.

Marc von Grundherr, director of the London estate agent Benham and Reeves, said: “The UK housing market continues to gather pace with the momentum of a runaway freight train, and the fuel of a stamp duty reprieve is not only enticing buyers to act, but it’s causing homes below the £500,000 threshold to sell for a very good price.

[coscos] 08/9/2020 08:02

New fees trial in London:https://thenegotiator.co.uk/purplebricks-fees-pilot-london/

[dennisbergkamp] 07/9/2020 12:30

I think its good for all agencies, BUT, as more people realise what savings are achieved with PB, they'll use them.

I'm biased as I've got first hand experience of using them and, as long as you can do the viewings, it makes total financial sense.

Their portal is brilliant, gives feedback from viewings so you can see what changes are required to increase appeal. It goes onto the same property sites as other agencies - ie rightmove and zoopla.

Up to the 500K mark, it's perfect and the agency of choice based on savings made.

Anything above that, and definitely for premium properties, you need an agency that can get you the value you're aspiring to, and I'd agree paying an agency handsomely makes sense there.

D

[hillofwad] 07/9/2020 12:19

"No other property company will benefit as much"
Sure it has perked things up Rising tide etc. but surely all the no hay no pay agents will benefit more as its increased sales and they charge higher fees

The stamp duty saving doesn't mean that Bricks will get proportionally more instructions than their peer group In fact likely to have an adverse effect as sellers will be motivated to get the deals across the line asap in what likely will be a challenging market ahead

[dennisbergkamp] 07/9/2020 11:57

This is Purp's time! Stamp free to 500K is exactly Purp's market.

No other property company will benefit as much. Have a think about it and it's pretty obvious. This is a #nobrainer! Unless you are short... in which case you'll burn

D

[andrewbaker] 07/9/2020 11:08

Adding to my comment on 10 August, I'm still seeing more Purplebricks signs up, especially compared to other agents in any given area, and they include sold boards too. I hung in here when they went down, and now am thinking not only to stay in, but maybe buy more.

[hillofwad] 07/9/2020 10:51

Well maybe its important to distinguish between the relative strengths of Belvoir and Bricks before making a forecast

Th lettings side at Belvoir goes from strength to strength whereas its withering at Bricks .
Lettings instructions fell during 2019 but still a country mile above today
They had 372 in October last year

The elephant in the room .Nobody even mentions it anymore Time to get rid

[coscos] 07/9/2020 10:31

hillofwad....

is it just on Monday mornings you roll out of bed on the wrong side or is it everyday?....lol

Onwards and upwards!

[coscos] 07/9/2020 09:47

From Belvoir results today:

'Since our sector was 'unlocked' in May, both property sales and financial services activities have been at record-breaking levels for the Group in terms of instructions, sales agreed and written mortgages. These are expected to convert to sales fees and banked mortgage income during the remainder of the year.'


Property sales are still booming with no let up in sight as yet. This should translate nicely for PURP when next update is issued. Another share price re-rating is due very soon. 120p next stop on road to recovery.

[ltcm1] 03/9/2020 17:42

Agreed. However one day the banks will realise their folly and wake up to the fact they are lending huge amounts to people who may not have a job this time next year.

[celerac1899] 03/9/2020 14:23

people have been prophesising about the crash of the housing market for years and look where it has gone

as long as you have cheap money and demand, stocks and housing will find many friends

(here comes my stalker)

[ltcm1] 03/9/2020 08:41

OTOH where else do you put your money Andy??? Half of all housing transactions are cash and lots are cashing in their pensions to buy property as they don't trust the stockmarket.

But perhaps there will be a crash like the Lawson one in the late '80's once the stamp duty holiday ends???

[andy] 03/9/2020 08:24

It's hard to see a rising housing market with higher deposits required and not lending to people on furlough, IMHO.

[andy] 02/9/2020 08:10

Housing at an all time high!





But for how long?

[andy] 28/8/2020 10:50

coscos,


"HMRC data also shows transactions leapt by 14.5% between June and July this year."

---


Well that's hardly a surprise, given lockdown.....


Statistics are beautiful things.

[coscos] 27/8/2020 14:55

Housing market still booming and there's no let up to it.

[coscos] 27/8/2020 11:11

Wow, 2 huge buys just popped up. Downing accumulating?

[pete123456] 27/8/2020 10:58

100p coming

[harleymaxwell] 25/8/2020 10:34

Maybe amazon going to buy this!