House sales slump 53% across UK ..

neverdespairgirl

IveSeenTheLight wrote: »

I'm sure they would have had a very good credit rating as well, no credit card debts, no loans etc

Regarding a deposit, they must have had one. 100% or 125% mortgages weren't available back then.

So im comparrisons with people today, they would have been in a very good position

No debts (they weren't easy to get in those days!) and not a 100% mortgage, but they didn't have a vast deposit.

And the same couple in their mid-20s in the same jobs couldn't buy that place today.

hethmar

huntersc wrote: »

The name of the town will do. Unless your real name is Hethmar then giving out the name of your town is not going to harm anyone. We're not asking for bank details or blood type .

So a town name would be good so we can have a look to verify the fact that there's no downward trend.

hunter, see my previous posting - I did a property snake search - only low drops and those are mainly newish detached houses on an "executive" estate (where every road looks the same) and the ex LA props.

(I do a fair bit of research for various people/reasons and can assure you that the postings I have made on here over the last few weeks, plus a post code would be more than enough for me to work out a lot about someone - and Im sure there are others who could do just as well, if not better than me at that :eek:)

huntersc

confused31 wrote: »

Nice list and it does show reductions of about 10% at most, and thats only a couple of houses the rest are about 5-6% which is nothing in this so called crash. plus the houses i am looking at are about the 200,000 pounds mark, which have even less drops.

Infact if you search for houses from 250,000 to 150,000 in walmley i think the most one as been reduced is just under 10%

Like i said there isnt no massive drops people are going on about houses dropping upto 50% and even in a normal market if you had a house on the market for over 6 months you would drop it anyway by between 5 and 10 percent.

House sales may be down 53% but house prices arent falling 20,30,40 or even 50 percent, maybe 10% at the most and thats only a few, well at least by me anyway.

confused

These are asking price drops, not the prices a vendor is willing to accept. On average offers accepted are running at 10% under the asking. So if a house on Rightmove has been reduced by 10% on the asking price, they'll accept another 10% drop at least on offer, that's 20%.

Bearing in mind that the original asking might have been off by 5% you're looking at around 15% drops. That's today. What will the vendor accept next month? And the month after?

hethmar

Have to add guys - in 1970 there were 100% mortgages - I got one from the Greater London Council.

huntersc

hethmar wrote: »

hunter, see my previous posting - I did a property snake search - only low drops and those are mainly newish detached houses on an "executive" estate (where every road looks the same) and the ex LA props.

(I do a fair bit of research for various people/reasons and can assure you that the postings I have made on here over the last few weeks, plus a post code would be more than enough for me to work out a lot about someone - and Im sure there are others who could do just as well, if not better than me at that :eek:)

Then just a town will do. I simply do not believe your assertion that you're in a property hotspot and that there is no downward trend.

Unless you can provide some evidence and allow us to look at the data by providing us with a town we have to assume that you are either lying for some reason or not a very good researcher and are not looking correctly.

To claim that your house is unaffected, that your area is different, that house prices everywhere else in the country are diving but in your area are staying the same, well that's preposterous.

If you said that a particular road was unaffected then that would be different. Perhaps you live in Scotland? Or maybe somewhere that's very small and only 20 houses actually exist?

The name of a town is fine. I'm struggling to understand why you;re so nervous about this anyway. Your online identity is at risk the moment you post on a forum. It only takes a mod here to check your IP address logged with every message to be able to find out who you are. If you're this nervous I suggest you stop posting on the internet.

hethmar

What ARE you on about?

"Unless you can provide some evidence and allow us to look at the data by providing us with a town we have to assume that you are either lying for some reason or not a very good researcher and are not looking correctly". SEE 1 and 3

"To claim that your house is unaffected, that your area is different, that house prices everywhere else in the country are diving but in your area are staying the same, well that's preposterous." SEE 2.

"The name of a town is fine." SEE 1

I'm struggling to understand why you;re so nervous about this anyway. Your online identity is at risk the moment you post on a forum".
It only takes a mod here to check your IP address logged with every message to be able to find out who you are. If you're this nervous I suggest you stop posting on the internet." SEE 1 and 3



1. hunter, I have provided info re house drops above having used property snake. And yes, it is a very small town. Im not sure why you are continuing to push on this matter. I have said there have been small drops of up to 6% locally and one at 15%. Why do you choose to ignore that information?

2. I have never claimed my house is unaffected - I am not trying to sell my house, so I wouldnt know what its worth and nor do I really care - as its an individual property and was last sold 2 decades ago I wouldnt know what a drop was since last year anyway. Nor have I stated prices are nose diving everywhere else in the country.

My point was that things are not crashing around here as the blanket reports suggest - and they arent in some other areas, eg confused's area - where the biggest drop was 9%. Why do you want everyones houses to be crashing by 30 or 40% - what advantage is it to you? I am telling the truth as it makes no difference to me whatsoever, it was merely an observation.

3. BTW I am a very good researcher

baby_boomer

hethmar wrote: »

Have to add guys - in 1970 there were 100% mortgages - I got one from the Greater London Council.

But you also got mortgage interest tax relief and the benefit of rampant inflation to erode your debt and made the chances of negative equity and risk to the GLC almost nil.

It seems odd that they weren't more common, in the circumstances. They weren't because of rising unemployment and the old cautious building society mindset, sown in times long gone, where thrift was considered a virtue :eek:

Until 1975 and the Sex Discrimination Act you could forget trying to get a mortgage as a single professional woman.

Here's a link to help hethmar if it gets too warm in his elusive "hot spot"

hethmar

baby_boomer wrote: »

Here's a link to help hethmar if it gets too warm in his elusive "hot spot"

I cant make out this fascination with my area of the country - may be its because it is a "hot spot" in reality then - all the papers keep saying it, so it must be so. I only said that tongue in cheek because when I went to check sites it repeatedly noted my town as a hot spot. I told the truth that there are very low drops and it seems like I have committed blasphemy on here. Why does everyone have to be so biased one way or the other? I am truly neutral here - I have no axe to grind and Im not selling or buying property. I do find some people very obsessive and aggressive on here, more so than any other forum I have known. Its totally unnecessary and I dont understand why they are like that.

Yes, there was mortgage tax relief, pity that ever ended.

confused31_2

neverdespairgirl wrote: »

No-one dropping asking prices, you said....

Did i say that?? I never said asking prices, i said people are just not dropping there prices.

We all agree house prices have fell at least 15% over the last year so why arent these houses reflecting that with there reductions?

I said no one seems to be dropping there prices agreeing with the above post i was agreeing with hethmar, in the above post and he was saying he was only seeing small drops of about 6%, there is no way i would make that statement no one dropping asking prices, as we all know even in a stable market the asking price is only a guide, buyers always offer less and they usually get the property, if the seller is happy to take the reduction.


confused

Annpan

Confused31,
I'm getting very CONFUSED with your posts. I understood you to mean that your area (quite expensive by the looks of it for the midlands) is maintaining high asking prices. NDG has proved they're dropping at a dribble and I expect not selling much. Hold on because they will drop more when people get used to the idea that the only way to sell is to undercut to make a sale in this market where buyer's confidence is nil.