Will You Be Buying Or Selling In The Next 12 Months?

nmiah786

Hi all

This new poll has come as a result of the other poll that was done to see whether people think prices will increase in the next 12 months ;

http://forums.moneysavingexpert.com/showthread.html?t=127873

That poll seems to suggest that 55% of people are expecting prices to increase within the next twelve months as opposed to 45% who think there will be no increase.

It could also be said that the poll reveals that the market is in stagnation, i.e. buyers not willing to pay the high prices yet the the sellers not willing to lower their prices.

HOW WILL THIS WORK I JUST DONT UNDERSTAND, ONE PARTY WILL HAVE TO GIVE AT SOME POINT.

So what I wanted to know was do you see yourself buying/selling with the next twelve months.

Will You Be Buying or Selling in the Next 12 Months

Thank you all in advance.

Woby_Tide

apart from the fundamental bit that a fair portion of the market will buy and sell in one transaction

nmiah786

Woby_Tide wrote:

apart from the fundamental bit that a fair portion of the market will buy and sell in one transaction

Four options;

Buying
Selling
Both
Neither

Am I missing something!!!!

al_yrpal

I'm selling my second home in Cornwall which I have had for 9 years. Its not because I can't let it because I never have. Its because we use it less frequently now we are retired. The housing market isn't stagnant in Cornwall. Whilst there are quite a few places stuck because they are overpriced, if you have a character place in a good position, and are willing to sell it for a realistic sum there is no problem. Prices have edged up slightly over the last 12 months still driven by the desirability of the county.

I think these polls show very little other than that there are many people desperate to get on the housing ladder who can't. Their situation is being made worse by a 'herd' of would be BTL'ers who are slowly realising that borrowing money to make an investment when there are low returns is a dumb thing to do. Unfortunately the penny hasn't dropped for most of them. The idea when making investments its to buy low and sell high! Anyone who got a decent rate loan, and put it in a tracker in the stockmarket this year would be sitting on a gain of around 13%. But who does that?

nmiah786

Al-yrpal

I was reading your signature with interest and I notice that you have experienced a lot in your time, one being of particular interest to me is "multiple house price boom".

Please do not take this the wrong way but how many house price falls have you experienced in you time?....just interested in hearing about your experiences.

Thanks

canny_yorkshireman_2

The only places that houses are rising at any decent rate is in europe (mainly the holiday destinations) weather that will be the case over the next few years is anyones guess.The place to be for investments is the stock market as the poster above has already commented. The stock market had its correction 5 years ago and is now the place to be for decent returns the housing market has yet to have the overdue correction which will happen sooner than later.just my thoughts.

al_yrpal

Since I got my first house in 1967 (£4,500), there has only been one time when house prices fell - that was 1990-1996. Bought my house in 78 for £28,000. House prices rocketed in 87 because the government ended the system where two unmarried cohabitees could each have tax relief on mortgage interest, and many people scrambled to get mortgaged up to the hilt, with 'the herd' in hot pursuit. Prices rocketed in the bubble. Then, as the recession started and interest rates rose sky high my house went from an inflated value of £166 grand to £110 grand in 5 years and many people went into negative equity (particularly in the herd) and lost their homes. I never moved, and in 88 I started my own business so it never affected me. I am still in the same house. But, I did buy a house in Cornwall then, because we liked the house, not to make money.

I get the feeling that many people posting here see the present situation as black and white and forever, and it isn't. As you can see from my signature, people of my age have seen it all, and got through it sucessfully. An opportunity will come for all those who now earn a reasonable wage to get their own homes. Its a particularly bad situation at the moment because of all the BTL stupidity (its the herd that have come in in the last two years), but I think that the tide is turning against that and by the end of this year you will see a steady exodus from BTL.

I live in the south, and the herd exodus has already started here, I personally know several landlords getting out with burnt fingers. It will spread to the rest of the UK, just as rising prices did in due course.

I think that many of you will really struggle to get on the housing ladder like I did (I borrowed the deposit and the solicitors fee), its nothing new. But go for it as soon as you can. Getting a better job or a substantial pay rise, and making some lifestyle choices to save more money is the key. I don't believe that holding back for a small fall in prices makes sense. They will be swiftly swallowed up by a rebound as sure as eggs is eggs.

nmiah786

Al_yrpl

Thanks for not taking my questions as sarcasm and sharing your experience with us, much appreciated. If you dont mind would you be able to tell us which part of the south you live in and how much your house is "worth" currently!

I dont see property as black and white, its very uncertain and depends on quite a lot of variables.

So to sum up (correct me if I am wrong) you think that recent BTL investors are not not too clear on what they have got themselves into!!! There will be a lot of BTLers bailing out very soon, which will reduce prices! However people who have saved up and have a good source of income should not hold back buying a home because they anticipate a fall soon! Also any fall will soon be corrected by the subsequent rises!!

Have I understood correctly what you are saying!

Thank you once again for sharing your experiences, much appreciated. :beer:

al_yrpal

I guess it must be about £350k now, in a village near Reading. You got my sentiments correct, except that I don't think there will be a large fall in prices as BTL's bail out. I think you will be able to drive some very hard bargains and get £5 to £10k off what they are asking for. But if the herd panics and stampedes, who knows?
Its a pity we have this attitude to property, the only people who profit from it are speculators and inefficient builders. I am with the FTB's. If only FTB's could share in large properties, thus avoiding all the 2 bedded places snapped up by the herd. They would save faster and put the squeeze on the BTL's.

distilled

I'll be selling! And a Happy New Year to all

nmiah786

distilled wrote:

I'll be selling! And a Happy New Year to all

Judging by the response of this poll so far it seems you will not have a shortage of buyers at all.

Happy new year to you too.