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Debate House Prices
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I'm experiencing higher volumes now
Comments
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I'd like to believe that we could see the end of boom and bust in the UK, but I'm not sure the statements you quote support that idea (interesting though they are). They refer to the US housing market, which is different from that in the UK.......quote]
I think another relevant point in comparing markets is in comparing the ease of adapting/extending and building in other markets. Somtimes its not just moving and funding that matters, but how easy it is to make the current house suit!0 -
Yeah, would have been great to have the option to buy back in 2001. But I didnt. Instead, I was priced out.
Lets hope to doubling house prices and tripling wages hey! (idiot...)
How could you have been priced out in 2001 when you said that was the start of the bubble. do you mean you were to young?
I was 25 years old (yes in an above average job
) but houses were definatly not unafordable then.
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To try and get this back to the original comment. We are trying to sell our house. In the last week three people have asked to see our house which is in South Bucks at the £1 million range which is more than came in the whole of Oct-Dec! I think people are fed up of waiting, interest rates are really low and they see an opportunity to buy. Of course there are the doom mongers around telling us to wait, wait, wait. If they really could fortell the future they would be multi millionaires!
Our EA says he has had offers on 4 houses since the New Year and he is a small estate agent with a fab reputation around here for sensible realistic advice.
We dont need to sell, we would like to and I think some of the comments on the house price forum misleads buyers especially first time buyers. You cannot offer 20-30% off the asking the price and expect it to get accepted. Obviously there are a few people who NEED to sell, repossession, divorce etc but generally around here people are not desperate to sell. We are looking to downsize and release some equity but we dont have to do it yet. If we dont get a reasonable offer we will withdraw from the market.
What I am saying is - you never know other people's circumstances or what they are not telling you. We had someone come around a while ago who told the EA he had nothing to sell. He was very keen on our house. Needless to say the EA investigated his situation and guess what - he had a house to sell. Apparently he didnt tell the EA because he felt he would be in a better position to make low offers. In the end the EA refused to deal with him....0 -
lostinrates wrote: »I think another relevant point in comparing markets is in comparing the ease of adapting/extending and building in other markets. Somtimes its not just moving and funding that matters, but how easy it is to make the current house suit!
Or how quick the process of buying and selling a home is. In the US it can take weeks or sometimes just days. The months-long lag in the UK means potential buyers have plenty of time to listen to the news about house prices falling and change their mind between offer and exchange.0 -
To try and get this back to the original comment. We are trying to sell our house. In the last week three people have asked to see our house which is in South Bucks at the £1 million range which is more than came in the whole of Oct-Dec! I think people are fed up of waiting, interest rates are really low and they see an opportunity to buy. Of course there are the doom mongers around telling us to wait, wait, wait. If they really could fortell the future they would be multi millionaires!
Our EA says he has had offers on 4 houses since the New Year and he is a small estate agent with a fab reputation around here for sensible realistic advice.
We dont need to sell, we would like to and I think some of the comments on the house price forum misleads buyers especially first time buyers. You cannot offer 20-30% off the asking the price and expect it to get accepted. Obviously there are a few people who NEED to sell, repossession, divorce etc but generally around here people are not desperate to sell. We are looking to downsize and release some equity but we dont have to do it yet. If we dont get a reasonable offer we will withdraw from the market.
What I am saying is - you never know other people's circumstances or what they are not telling you. We had someone come around a while ago who told the EA he had nothing to sell. He was very keen on our house. Needless to say the EA investigated his situation and guess what - he had a house to sell. Apparently he didnt tell the EA because he felt he would be in a better position to make low offers. In the end the EA refused to deal with him....
I thought you were fairly desperate to sell, from your other posts?0 -
It is very probably true that anyone moving on won't accept a silly offer. Happened to us in the 90's.We even gave up looking at house movers as they couldn't drop by that because the next one wouldn't (and so forth). We ended up paying 62.5% of an (old) asking price and it was accepted but it was an empty property.0
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Agree! plus anecdotally FTB's have locked away their deposits in fixed interest rate savings accounts with withdrawal penalties, usually for a minimum of 1 year.
Yes, we've done that....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
lostinrates wrote: »Conrad, how ar you feling now about buying a BTL? IIRc correctly that is on the cards?
Hi LIR - not seen you around for a bit, Happy New Year!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I'm in 2 minds about B2L.
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weren't you looking at a place near the fabled Felixstowe docks?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Saw my friendly (honest!) local EA in town today and asked if things were improving and he said still slow but yes, they had been getting a lot more enquiries - he hopes these will translate into sales but isnt optimistic.0
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