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[buywell3] 25/10/2020 20:07

======= UK Property Market to drop 30% over the next 2 years =======


buywell predicts that by the end of 2022 the average price of a house will be back around 160K down from circa 240k now

Round number a drop of 30%

This is a conservative number in buywells' view based upon the drop in UK GDP of over 20%

Check out HP previous drops V previous GDP drops in times of recession and you will see what buywell means.

The two always go hand in hand one following the other

Check out also the number of high value properties that have recently hit the market in your area buywell would suggest --- folks are trying to cash out to avoid the loss to come

[chucko1] 09/10/2020 15:30

Rog, what on earth has that got to do with it? It's for you to make up your own mind which is which. Do you actually think for yourself about anything?

[rogthepodge] 09/10/2020 14:27

I think any of his winners are outweighed by his howlers?

[chucko1] 09/10/2020 14:10

Rog, if you dislike TW so much, do what I do - trade against his more "outlandish" assertions. If they're as malevolent as you make out, value will win out in the end. Unless you are too exposed to particular stocks? You make it sound like that.

That said, TW/SP have also written some excellent articles which have protected those who have an open mind. ADVFN seems to have an unhealthy weighting of those lacking this attribute.

[gwarnbus] 09/10/2020 14:08

Calm down giraffe lad

[rogthepodge] 09/10/2020 13:17

the FCA exists to protect people like me

[1giraffetrader] 09/10/2020 12:57

boo-hoo, it's everyone elses fault but your own. Its your own fault for not doing your own research, you are the one who pressed the buy or the sell button.

I've seen this personality trait many times before

'over the years'... so you didn't learn first time round then? more fool on you

[rogthepodge] 07/10/2020 17:43

That tosspot TW has cost me a fortune over the years. I followed his advice and sold ASC at £12 in March and BOO at 230p a few weeks ago. This "PURP is about to be bankrupted" by National Insurance payments is almost certainly more fantasy to help him/his slimy chums, make spivvy quick profits at investors' expense.
Why does the law allow him to get away with this? Why doesn't the F.C.A. take action?

[coscos] 04/10/2020 19:48

Thanks, I've made a good profit on 2 occasions with PURP over the past few months but think they missed a trick last week - unless of course there is something negative which is holding them back. Time for me to sit back and watch from the dugout.

[andy] 04/10/2020 17:30

coscos,


Well done for making a profit, and as always it's not a profit until it's in the bank.

[hillofwad] 04/10/2020 13:03

You dont have to trust TW just ask your local Bricks LPE

[coscos] 04/10/2020 12:31

Personally I don't trust anything Mr TW Slimeball says, however I was mightily disappointed that PURP failed to update the market on the day of AGM which was an opportunity missed. Therefore my profitable investment in PURP came to an end on Friday- for the time being. Good luck to all for the future.

[hillofwad] 04/10/2020 11:51

The important issue here is Bricks set up in 2012 .There should not be a big question mark 8 years later over whether their field agents are self-employed

Not surprising that Bricks Head of Compliance has recently left

Just a shame that the £60m pot wasn't in more capable hands

[andy] 04/10/2020 09:06

dennis,


The HMRC don't see it that way though.


They have some defined rules, I know a business that fell foul of them, and tried to use the same sort of defence, and lost.

[dennisbergkamp] 04/10/2020 00:16

Self employed is exactly that. You know the deal when you agree to it. It’s your decision on how much time you dedicate and you’ll be recompensed first it based on the rate you agreed.

Same goes for the Uber fiasco

People trying to play the system,IMO

D

[andy] 03/10/2020 23:50

Interesting, it's clear that an LPE that devotes 100% of his working time to PURP is in fact a de facto employee, IMO.


I'm surprised they didn't buy this guy off, normally everyone has their price, good to see he has integrity.

[napoleon 14th] 02/10/2020 12:04

Here is some news, alledgedly originating from Tom Winifroth - believe as you will... Thanks to robbo, from a.n. other site which I rate as the best!

"robbo35 10:33
CR, PURP article
An industry source says that Purplebricks (PURP) has lost but is appealing an employment tribunal from one of its former Local Property Experts (LPEs) the implication of which is a tax bill that could wipe out the majority of its, already rapidly dwindling, cash balance.

My source suggests that Purplebricks has faced a number of cases in employment tribunals in recent years from LPEs but until the current case has bought off claimants with settlements of up to £30,000.
However, the current claimant is understood to have refused an offer and went to a tribunal and won. I understand that Purplebricks is now appealing that decision.

Why this matters is that Purplebricks has stated that LPEs are not employees but individual franchises and thus has not paid for any of the rotating cast of c600 LPEs any employers National Insurance or deducted employees NI nor has it made any mandatory offers of basic pension provision.

If Purplebricks loses the appeal, HMRC would thus be able to cite this as a precedent and stiff the company with a bill for unpaid NI which would almost certainly total £20-30 million, plus interest and penalties. In other words it would lay claim on well over half of the cash position of the company.

Given that Purplebricks is losing money, that would be disastrous and if there is a “going forward” it would have huge implications for the cost base of the business, increasing its cash burn.

The two questions regulators or investors should now be asking of Purplebricks are:

a) How many employment tribunal cases from LPEs have you settled out of court, insisting on NDAs, rather than go to a tribunal?

b) Can it confirm that it has now lost a case and that it is appealing and if so for when is the appeal scheduled?

Suffice to say, shares in Purplebricks are, at 74p, valuing the business at £219 million, remain a stonking sell.
Never miss a story."

This is only AFAIK, so NAI & DYOR.

[gwarnbus] 01/10/2020 16:23

What was the news coscos?

[coscos] 30/9/2020 14:14

House prices still rising:

[coscos] 29/9/2020 20:20

Excellent results from Hunters today to be followed by excellent news tomorrow from PURP.

[andy] 29/9/2020 10:06

Interesting to see Boomin#s MO!

Our ambitions
Open the market and get more people moving
Get customers engaging with agents like they used to
Increase revenues – during and long after the transaction
Give agents unprecedented life-long brand exposure
Increase productivity, giving agents more time to do what they love
Power a transformational experience for everyone – building loyalty
Support, promote, advertise and enhance the profile of Estate Agents

-------

It would seem the same people that predicted the end of the dinosaur High St. estate agents re now promoting a solution to service them!

I guess those of us that refused to accept that the local EA would become extinct have been vindicated if their latest venture is to become successful!


,

[hillofwad] 28/9/2020 09:59

Noticeable that in recent months that a number of senior staff have upped sticks and moved to pastures new .

The company is now being run by individuals with limited property experience and perhaps an over obsession with proptech

Vic has been very disappointing Almost unknown in the property world and zero presence

A very real danger of them squandering the tidy sum in the bank when it could be used to take advantage of opportunities which might present themselves to gain market share

A number of senior exec's have followed the Bruces new venture Boomin which is in the process of being unveiled .

Including their Head of Compliance Bricks don't seem to have learned their lessons from the fines. They are still recycling properties with expired EPC certificates


Sales inventory has been up but now starting to tail off as it normally does this time of year but rentals are in a complete downward spiral.

Just 250 inventory today and they seem to be doing SFA about it.
Starting to disappoint again.

[pete123456] 28/9/2020 09:09

agm this week . maybe some news ?