Are house prices really going down?

neverdespairgirl

MrsTine wrote: »

Well don't assume that all properties have reduced in value... Interestingly houses in our village have not dropped a penny in the last year.

Which (rough) part of hte UK are you in?

Running_Horse

Asking prices in our Kent village have gone up, but then very little is selling, and sometimes unsold houses then go up for rent. No point slashing the price if no one can get a mortgage anyway.

As for the OP, if you are not prepared to up the original offer a little, then very few sellers will go for a take it or leave it offer. Even in this market you have to negotiate. You are a potential buyer, not a god to be worshipped.

Davesnave

As for the OP, if you are not prepared to up the original offer a little, then very few sellers will go for a take it or leave it offer. Even in this market you have to negotiate. You are a potential buyer, not a god to be worshipped.

It's an old joke, but I took a 'take it or leave it offer' because I could see Armageddon on the horizon.

So, now armageddon out of here, before the price goes through the floor!

nixinix

neverdespairgirl wrote: »

I don't think anything of the sort, I think you are mixing me up with someone else?

Then I apologise... obviously I thought you were one and the same from a previous post....as I was running a temp of 103 at the time I'll blame that. Sorry.:embarasse

IveSeenTheLight

PasturesNew wrote: »

It is in some areas... but where I grew up a studio or 1-bed flat is a FTB property.

If they're not ... then who are they for?

In my area a FTB property is a 1 or a 2 bed flat.

I rented a 1 bed flat and only just managed to buy our first place (a 2 bed flat) with my wife.

I know many people who bought 1 beds as their first purchase. Can't think of one who jumped straight into a house.

Hence I don't understand why some think that a FTB property should be a 3 bed detached place.

Mind you, there are always exceptions to the rule

neverdespairgirl

nixinix wrote: »

Then I apologise... obviously I thought you were one and the same from a previous post....as I was running a temp of 103 at the time I'll blame that. Sorry.:embarasse

Sorry to hear that - hope you are feeling better now.

neverdespairgirl

It does, surely, depend on your circumstances rather than your status as FTB or otherwise, though.

There wouldn't be much point in us buying a 1 bed flat, or even a 2 bed, really.

carolt

Quite, as the age of FTB'S goes up, as it has done recently, from memory I think from mid 20's in the 80's to mid 30's now, there will be far more FTB's (a) on relatively higher salaries (b) buying in couples and (c) already with child/ren.

So both their income and family sizes woud make 1 bed flats inappropriate.

I personally know lots of people who bought houses as their first purchases, or 2 bed flats. Never met anyone who bought a 1 bed or a studio, now I come to think of it. Clearly, some people do, or there wouldn't be any sold. Maybe it's because most people I know in real life are in a higher income bracket?

huntersc

carolt wrote: »

Quite, as the age of FTB'S goes up, as it has done recently, from memory I think from mid 20's in the 80's to mid 30's now, there will be far more FTB's (a) on relatively higher salaries (b) buying in couples and (c) already with child/ren.

So both their income and family sizes woud make 1 bed flats inappropriate.

I personally know lots of people who bought houses as their first purchases, or 2 bed flats. Never met anyone who bought a 1 bed or a studio, now I come to think of it. Clearly, some people do, or there wouldn't be any sold. Maybe it's because most people I know in real life are in a higher income bracket?

When we left Uni we never even thought of buying a house. It just wasn't something we considered. To some extent living in a flat is a bit trendier too, especially in central areas, Covent Garden etc. If I knew what I know now I would never ever have started off in a flat.

IveSeenTheLight

carolt wrote: »

Quite, as the age of FTB'S goes up, as it has done recently, from memory I think from mid 20's in the 80's to mid 30's now, there will be far more FTB's (a) on relatively higher salaries (b) buying in couples and (c) already with child/ren.

So both their income and family sizes woud make 1 bed flats inappropriate.

I personally know lots of people who bought houses as their first purchases, or 2 bed flats. Never met anyone who bought a 1 bed or a studio, now I come to think of it. Clearly, some people do, or there wouldn't be any sold. Maybe it's because most people I know in real life are in a higher income bracket?

According to the Council of Mortgage lenders. Average age peaked at 32 in some months between 2002 and 2004 but have now dropped to 28 and 29 since 2005

http://www.cml.org.uk/cml/filegrab/2ML2.xls?ref=4624