A possible crash on the way ?!!!

meanmachine_2

Yeah, I'd love to know where these special areas are where house prices go up by 40% y-o-y.

Methinks there is some exaggeration going on.

If not, then these areas are heading for the mother of all crashes, since down here we've been enjoying falls for the last 1-2 years.

ivegotabig1

Woby_Tide wrote:

If you know that much then you'll know there are probably already 3 or 4 topics(on the ifrst page alone) already running containing reports and info like this, why keep diluting discussions with a new thread each time?

Hey chill brother :T if you dont like the thread then dont reply or post somewhere else....simple...

Woby_Tide

:wall: aaaarrrrrggghhhhhh

eurows

The topics got boring to house owners because the crash has started. Its not quite so much fun talking about house price falls.

But why not talk about this and the effects this will have on those already overstretched. I forsee big trouble ahead. By the way where are all you house prices never come down crowd.

LONDON (Reuters) - Interest rates are more likely to rise than fall because inflation is set to remain above target for several years, a leading think tank said on Friday.

The National Institute of Economic and Social Research also said while higher revenues are set to improve Britain's public finances in the near term, taxes will have to rise or spending be cut to correct a structural deficit.

ivegotabig1

Woby_Tide wrote:

:wall: aaaarrrrrggghhhhhh

we need a :grouphug:

mystic_trev

There are many websites to go and look at where property prices are heading. I've been looking at this one which is easy to use and has some interesting results by area https://www.proviser.com I've just sold and am going into rental. The Interest I'll get on the sale will amount to £15,000 a year - far more than I'll have to pay in rental. Also I won't have to stump up £3,000 a year for service charges! I might consider re- entering the market once prices have droped by 20% But (as I've said before) that just takes the "froth" off the Market. It needs to drop by over 40% to get back to the long term trend.

nelly_2

mystic_trev wrote:

There are many websites to go and look at where property prices are heading. I've been looking at this one which is easy to use and has some interesting results by area https://www.proviser.com I've just sold and am going into rental. The Interest I'll get on the sale will amount to £15,000 a year - far more than I'll have to pay in rental. Also I won't have to stump up £3,000 a year for service charges! I might consider re- entering the market once prices have droped by 20% But (as I've said before) that just takes the "froth" off the Market. It needs to drop by over 40% to get back to the long term trend.

Good move mate.

Also 15 grand a year niiice.

blossom30

Hi, I thought I would add my wee bit to this thread as I have ben keeping a close eye on the market in my area south Glasgow. We have a different system in Scotland whereby properties go on at offers over. Quick sales go on at fixed price but up until recently there were very few fixed sales on the market. I am now noticing a high number of fixed sales. I am in a nice wee village and properties have doubled in value since we came here 5 years ago, until the past couple of weeks as soon as a property came on the market , it was sold within a few days. I have noticed a nice 2 bed detached bugalow go on the market at an offers over £130,000 2 weeks ago and it didn't sell despite a nice interior. It is now on the market at a fixed price of £136,000. This has been the first fixed rate I've seen in the village for a while.....The signs are all there. The prices are levelling off and it is only a matter of time before we see a drop.

wibble68_2

mystic_trev wrote:

There are many websites to go and look at where property prices are heading. I've been looking at this one which is easy to use and has some interesting results by area https://www.proviser.com I've just sold and am going into rental. The Interest I'll get on the sale will amount to £15,000 a year - far more than I'll have to pay in rental. Also I won't have to stump up £3,000 a year for service charges! I might consider re- entering the market once prices have droped by 20% But (as I've said before) that just takes the "froth" off the Market. It needs to drop by over 40% to get back to the long term trend.

I see that the sell to rent craze is taking off again.

I know people who did this 2 years ago and got burnt. But I believe that now is the right time to do it if you're willing to take the gamble.

If the correction of the last housing market cycle is repeated then it will gather pace in 2007 and bottom out in 2010.

But with Laurel and Hardy coming up with their steal from the poor and give to the rich schemes I guess anything could happen.

brummybloke

meanmachine wrote:

Yeah, I'd love to know where these special areas are where house prices go up by 40% y-o-y.

Methinks there is some exaggeration going on.

If not, then these areas are heading for the mother of all crashes, since down here we've been enjoying falls for the last 1-2 years.

not really, i bought in an area where house prices have always been quite high, i bought an ex council house repocessed. it is still in the band 'a' council tax which is nice. i just hope they are gentle with me when it is re banded.

the houses in my road will go up again in the next 2 years as there will be improvements made to a nasty bit of the road where there is some aweful maisonettes, they are planned for demolition and planning permission has been granted for 10 executive homes to be built there plus 2 smaller homes.

i live 1/2 mile max from a very good primary school

it really is down to location.

and some luck.

i wouldnt exagerate anyway, what is the point? i wouldnt be impressing anyone as i dont know anyone here.