Crash Crash Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

Jack_Johnson_the_acorn

I am able to save up £1000 p/m at the moment, viewed a house that me and my fiancee love but we're not making an offer....

The economy is too unstable and I fear a double dip could be on it's way.... here's hoping house prices continue to fall to more realistic levels. :j

Flight2quality

Jack_Johnson_the_acorn wrote: »

I am able to save up £1000 p/m at the moment, viewed a house that me and my fiancee love but we're not making an offer....

The economy is too unstable and I fear a double dip could be on it's way.... here's hoping house prices continue to fall to more realistic levels. :j

House prices will fall but there will be no double dip. We never got out of the first one. There was no recovery just a cover up which made things worse.

blisk3

Sellers' housing market 'gloom'

Fourteen homes were sold per UK estate agent in the three months to August - the lowest total for more than two years, a survey has found.

Economic uncertainty and a lack of mortgage lending led to the sluggish housing market, the Royal Institution of Chartered Surveyors (Rics) said.

More surveyors reported price falls than price rises in August, Rics said.

And an increasing proportion expected prices to drop further in the next three months.

John_Pierpoint

They would have to lower them a long way, as the main driver is the availability of mortgages.
The banks want rock solid buyers these days.
Everyone is sitting on their hands hoping for an economic revival, here is the "Western " world.
There has not been a lot of talk about "green shoots" recently.
Hard long term graft and economic restructuring should be the answer BUT does anyone trust the fiat currencies: Save money, invest money, watch the quantitative easing and get taxed at 5.2% by inflation!?.
So I cannot see any signs of Chinese/Japanese levels of saving any time soon.

blisk3

House prices confused, people don't want to believe prices are over priced.


House prices 'lacking direction'

MrRee_2

I was in the market for a property in 2008 when this thread started .... this thread was advising everyone to jump ship ..... had I bought THEN, rather than to wait for a crash which isn't about to happen, I would now have a property worth about 20% MORE today than in 2008, in general terms!!

As an example, I viewed a Bungalow at £197,500 by the sea ... it sold for that price. The same bungalow sold this summer for £325,000!!!! Property was the same, garden had been cleared!!

The property market just seems forever upward .... certainly not much of a drop has happened - 2008/2009 was the time to buy!

John_Pierpoint

Care to name the town?
I would bet that the property appeals to pensioners, perhaps early retired.
No need for a mortgage and bags of equity from the sale of the "family home".
I wonder if the market will hold up in the long term with a million of the under 25's unemployed and the average couple not getting on "the housing ladder" until they are in their 30's and the "biological clock" is running down fast.

Here is somewhere a stone's throw from the beach.
If you look carefully it must be one of the first houses to be built with cavity walls and the estate agent is (I think) struggling to describe the heating as "air source heat pump".
You could afford to buy the whole street for the prices you are quoting and believe me these prices have gone down since 2008.
http://www.rightmove.co.uk/property-for-sale/property-25244062.html

Pimperne1

MrRee wrote: »

I was in the market for a property in 2008 when this thread started .... this thread was advising everyone to jump ship ..... had I bought THEN, rather than to wait for a crash which isn't about to happen, I would now have a property worth about 20% MORE today than in 2008, in general terms!!

As an example, I viewed a Bungalow at £197,500 by the sea ... it sold for that price. The same bungalow sold this summer for £325,000!!!! Property was the same, garden had been cleared!!

The property market just seems forever upward .... certainly not much of a drop has happened - 2008/2009 was the time to buy!

It could actually have been worse. You might have been in a position to buy in 2004 and have taken the advice of an Independent Financial Advisor on Housepricecrash website (or the Editor of Moneyweek).

MrRee_2

Certainly - Milford-On-Sea ... and I made a slight error in the above - it was the asking price which was £325,000 it sold for £310,000 this summer.

Property type: Bungalow | Tenure: Freehold | Last sale:£310,000 | Sale date: 15th Aug 2011
Property type: Bungalow | Tenure: Freehold | Previous sale: £197,500 | Sale date: 6th Feb 2009

Pimperne1

MrRee wrote: »

Certainly - Milford-On-Sea ... and I made a slight error in the above - it was the asking price which was £325,000 it sold for £310,000 this summer.

Property type: Bungalow | Tenure: Freehold | Last sale:£310,000 | Sale date: 15th Aug 2011
Property type: Bungalow | Tenure: Freehold | Previous sale: £197,500 | Sale date: 6th Feb 2009

Some of these seem to bear out what you say, numbers 90 and 67 for a start (although I haven't looked at many more).

http://www.houseprices.co.uk/e.php?q=camden+hurst+milford+on+sea&n=100