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Victims of the recession (?)
Comments
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Jeesus Charlton got me down up until nowreading this i feel like hiding under the bed for the next few years0
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[cite]Posted By: LenGlover[/cite]
The requirement for HIPS is a big factor in killing the property market according to people I know in the game.
What might not be generally known is that HIPS were primarily introduced to comply with EU requirements (specifically energy performance) and thus there is bugger all or very little our Government can do about it as it is now an EU competence.
What makes it worse is that despite the requirement to have the accursed things prospective purchasers rarely if ever ask for the HIP.
The EU requirement is simply for the energy certificate the rest of the HIPS stuff was purely down to the government.
All the information pack did was make sure that the only people who put their house on the market were those who were serious about selling. A lot of the information in the sellers pack made sense to have available up front in my view.0 -
[cite]Posted By: kigelia[/cite][cite]Posted By: LenGlover[/cite]
The requirement for HIPS is a big factor in killing the property market according to people I know in the game.
What might not be generally known is that HIPS were primarily introduced to comply with EU requirements (specifically energy performance) and thus there is bugger all or very little our Government can do about it as it is now an EU competence.
What makes it worse is that despite the requirement to have the accursed things prospective purchasers rarely if ever ask for the HIP.
The EU requirement is simply for the energy certificate the rest of the HIPS stuff was purely down to the government.
All the information pack did was make sure that the only people who put their house on the market were those who were serious about selling. A lot of the information in the sellers pack made sense to have available up front in my view.
Pre HIPS people would put property on the market with a price in mind and if they were offered that price or acceptably close to it then they would proceed with the transaction.
The people I know say that sellers will not pay for something (HIPS) on the basis that they only MIGHT sell hence they are not placing properties on the market. (Buy to let is different since the HIPS cost will be tax deductible one way or the other).
That combined with the fact that prospective purchasers can no longer easily obtain mortgages has effectively killed the market.0 -
That combined with the fact that prospective purchasers can no longer easily obtain mortgages has effectively killed the market.
...............
With respect what is killing the housing market is - supply out growing demand, a lot of buy-to-let houses being dumped before prices fall further, recession, uncertainty, why buy when house prices are falling and you can likely buy cheaper in a few weeks/months, a lack of credit unless you put up 10-20% deposit etc. I think HIPS as a cause is way, way down the list of reasons why house prices are falling.0 -
Len, I'd argue that of those two, the lack of mortgages is the real bugbear. My parents sold my grandmother's house earlier on this year, and the sale nearly fell through because the mortgage lender withdrew the mortgage product that the buyer had arranged, so they had to try and arrange another mortgage at the last minute. Luckily my parents were just selling to finalise Nan's estate, while the buyers had been sharing with family, so they could afford to wait to get it sorted, but imagine the chaos if they'd been in the middle of a big chain. That decision could easily have screwed up half a dozen sales if people had been in a hurry to move.0
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Well that'll cheer up Goonerhater anyway....0
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I subscribe to a number of email circulars with properties for sale within 2 miles of my location of choice... the number of one/two bed properties being sold in the docklands area has tripled i would guess over the last few months. All trying to get rid now before they get any lower.0
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TfL have been shedding jobs since September - it's only now that it has really hit the press...[cite]Posted By: Sideways[/cite]Even TfL is affected0 -
[quote][cite]Posted By: F-Blocker[/cite][quote aria-level=0 aria-posinset=0 aria-setsize=0][cite aria-level=0 aria-posinset=0 aria-setsize=0]Posted By: Sideways[/cite][url=http://www.thisislondon.co.uk/standard/article-23601804-details/White-collar+jobs+go+as+TfL+axes+up+to+2,000/article.do]Even TfL is affected[/url][/quote]
TfL have been shedding jobs since September - it's only now that it has really hit the press...[/quote]
Yep heard this ages ago big cuts in certain depts had people on teh phone trying to get theret training ASAP in case they wer one of the ones cut, worst part of teh job i do not being able to help these people out 350 in this area to go in early Jan.
people said to me when i joined LU this is one of the last places left were you if you keep your noise clean have a job for life, maybe a few years back but in this day and age i do not think anyone is safe
Another 2 retails look like going under
Whittards of Chelsea
Ernest Jones0 - Sponsored links:
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I have just got back from the Olympic Development site, And although there is some real good work going on there and the Swimming pool and Stadium are changing daily
There are so many people being paid to stand and point and tell you nothing it is unreal. They must be wasting a lot of bucks on these people i must have asked 6 different people today can you tell me where this place is please and not one could but they were all just standing around on their phones pointing to lorry drivers about what direction the one way system is going
looks great there though at the moment looking forward to watching it go up0 -
You should of been involved in the dome or Wembley mate they were chaos (ok not so much the dome) but Wembley was a huge headache and I only got involved in it towards the end!! The amount of dough wasted on multiple project managers and planners is horrific0
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Zavvi Goes as well
up to 3k of people
Still no reccession?0 -
What a horrible thing to happen to the staff on Xmas eve. My heart goes out to them.0
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Agreed, sadly it was doomed when Woolworth's went down as it purchased off one of Woolworths trading arms. The domino effect is now underway.0
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I'm in Zavvi's industry (dvd, cd and games) and they caused this themselves. A year ago, they had a record year and the management looked like they had done very well with the MBO.
However, they got greedy and moved their distribution and buying to EUK (Owned by WW) because it meant they could get bigger wholesale discounts from people like me.
Unfortunately what came with it, was mismanagement of stock, bad buying decisions from junior buyers employed by WW and people who didn't understand the difference between a Zavvi and a Woolworths - alas, by being greedy they right royally messed up their business0 -
So which one is next to fall?
My money is on any one of these (if not all):
Jessops
WH Smiths
Sportsworld
JJB0 -
Think maybe Smiths & HMV could be in danger
Smiths have been struggling for a couple of years0 -
WH Smiths and HMV are both doing well in the current high street .... Waterstones, who HMV own could be in real trouble .... allegedly ...0
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Thats weird
HMV so over priced its unreal0 - Sponsored links:
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HMV.com - fastest growing online retailer - that's where the bargains are ;-)0
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HMV over priced £3 a dvd cant complain0
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[cite]Posted By: supaclive[/cite]HMV.com - fastest growing online retailer - that's where the bargains are ;-)
Rumour has it that HMV are under pressure,hence my company decided not to take some business offerred by them. If the prices in store and on line are that good then it probably means that they are operating off low margins, improving cash flow but doing nothing for long term stability0 -
HMV to become online only within the next year.0
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Smiths are running Post Office branches, so can't seem them going.
If my dealing with Laura Ashley are the norm for them, then I could see them going into trouble.0 -
What you bin buying off them, Guinness ?0
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[quote][cite]Posted By: Dazzler21[/cite]HMV over priced £3 a dvd cant complain[/quote]
Talking new release and chart stuff
Sideways you been affected fella?0 -
Saw Debenhams are about £1bn in debt, can't be a good thing.0
