In full swing

pickles110564

m00m00 wrote: »

I made my guess in the other thread, personally I think slightly higher than nationwide somewhere at 1.x% reduction

Do you think in your area that you will see more than 20% correction before people start jumping back in?
I still firmly believe that it will only be desperate sellers in my area that will go to 20% original sale price as employment in Felixstowe will only get stronger with the amount of both Hourly Paid and Staff that the Dock needs to take on due to the Multi Million Pound expansion that is now about to get started at the Port.
This will create in excess of several thousand well paid jobs both directly and indirectly and the local economy will get one hellava boost.
This inturn will strengthen the already strong rental market with the influx of new labour into the area.
It was only announced in the last couple of weeks that the Port has just sucessfully managed to get a major shipping line signing up to a new 10 year contract.
I have to go now as I must start my course work that has to be in on monday as you for well know that using my brain is not one of my strong points.
see you later
Pickles

m00m00

in my area pickles, prices have been in a slump for nearly 2 years already.

the boom ended earlier here (nottingham and surrounding areas)

prices have been sharply 'correcting' though of late.

In Apr 07, the lowest price for any property type in a postcode I check was 85k

checking today, the lowest priced property is 44950 and there are 57 properties below 84999

pickles110564

First time I have been able to walk on school run this week and have noticed quite a few more for sale boards and even more interesting a sold subject to contract on one that has been up for sale since jan.
I will give my mate a call in the EA's a bit later to get the low down.

Snooze

By the way pickles, I've noticed you've not been thanking your own posts lately. Have you forgotten BTLnewbie's password?

Rob

carolt

Problem with your argument, pickles110564, is that the house selling is not a FTB house - it's a 4 bed detached house and is clearly selling to someone higher up the ladder, maybe someone who can afford (or thinks they can afford) to buy 2 houses, or buy a new one and rent the old one. It's the FTB properties that are going to really stick.

Obviously SOME properties are going to still be selling, even now, even at a "mere" 20% off; but as the figures for number of transactions make clear, VERY, VERY FEW.

I'm certainly happy to wait another couple of years!

pickles110564

carolt wrote: »

Problem with your argument, pickles110564, is that the house selling is not a FTB house - it's a 4 bed detached house and is clearly selling to someone higher up the ladder, maybe someone who can afford (or thinks they can afford) to buy 2 houses, or buy a new one and rent the old one. It's the FTB properties that are going to really stick.

Obviously SOME properties are going to still be selling, even now, even at a "mere" 20% off; but as the figures for number of transactions make clear, VERY, VERY FEW.

I'm certainly happy to wait another couple of years!

I agree at that level it is not a first time buyers home but 2 bed homes are easily in the range of people like yourself that have a £30k deposit and earn average earnings down the Port.At the moment these will be around the £110 - £120k range.
As I have said in the past I only comment on my own area as I have very good contacts in all of the local EA's and know how they all work;)
Employment here is only going to get more positive with the multi-million pound expansion and the knock on effect to all supporting infrastructure.

pickles110564

carolt wrote: »

Problem with your argument, pickles110564, is that the house selling is not a FTB house - it's a 4 bed detached house and is clearly selling to someone higher up the ladder, maybe someone who can afford (or thinks they can afford) to buy 2 houses, or buy a new one and rent the old one. It's the FTB properties that are going to really stick.

Well just to update you as you have said that FTB properties are going to really stick, 15 have now gone STC up to the £150k bracket.
Are these not FTB?
Perhaps you dont know as much as you make out?;)

carolt

pickles110564 wrote: »

Well just to update you as you have said that FTB properties are going to really stick, 15 have now gone STC up to the £150k bracket.
Are these not FTB?
Perhaps you dont know as much as you make out?;)

Come back to us again when it's actually SOLD, not just STC. And with WHAT it actually sold for.

pickles110564

carolt wrote: »

Come back to us again when it's actually SOLD, not just STC. And with WHAT it actually sold for.

:rotfl:
Oh I do like you.
You just keep burying your head deeper and deeper in the sand.
First you say that FTB properties will not get a sniff, Rightmove says otherwise, so then you say come back when they are sold.
When they do what will you say then?
Oh but they are deep in NE now.
Like I said before I know my area well and that is what I have been telling you all along.
How about maybe you are right Pickles, your area has got more going for it than I thought.
..............but then again you are a women and always right never wrong.:rolleyes:

havethis1

pickles110564 wrote: »

Do you think in your area that you will see more than 20% correction before people start jumping back in?
I still firmly believe that it will only be desperate sellers in my area that will go to 20% Pickles

There has allways been desperate sellers. The thing is over the last 5 or so years even desperate sellers got what they wanted.

However thats over and over for years to come.

Like sara beeny said even the proper gormless muppets on her program made money over the last few years.

From now on the desperate sellers will kop for desperate prices.
But 80% of people dont want to or need to sell.