house prices going up

devilot

Cat695 wrote: »

or maybe no one can get a mortgage to buy so they will have to reduce their prices even more.

Anyone who thinks house prices are going to rise anytime soon (especially this year) is living on a different planet.

Steady on, I was only joking....jeez.:rolleyes:

poppysarah

I'm seeing many more coming up in auctions - although not so many within my prefered search area - a tiny bit further afield it's like a war zone with loads of repos.

Radsteral

they deffenitely going up !
what a joke! , there is no single day i dont get a call from friends who tell me they been told from company '' no more work'' and that s become more miserable recently.. so the outlook for most of my friends who were looking to buy is great- not . i tried to buy a house last month but couldnt get a mortgage... i better have that 45 k on my bank just in case

i believe there more people in situation like me than oil rich arabs and corrupt rusians who buy houses on cash .
more houses in auction as Sarah says? well as much as i know auction , is the last option of house selling.

besonders1

Its funny how the property boom can delude people into thinking that houses can really stay at high prices even if no one buys them. Although not long ago no one ever believed that they would fall in value.

QTPie

I am seeing a REAL mixture here in the larger family home sector of the market... (Bath area):
- some (including one I like, but haven't viewed yet... ) are still on at above the "ceiling price" for their road/area (i.e. late 2007/early 2008 prices PLUS a premium on top). Those generally have been on the market for some time and not had any offers accepted on them.
- a few that came on the market at overly optimistic prices and then left the market again (unsold).
- a few that have "tried it on at peak prices", but are now making cuts (and beginning to look more attractive).
- a few coming on at REASONABLE prices.
- one or two that have been on the market for a year (with few or no offers accepted on them) and then raise their prices (with or without a change of agent) :rolleyes:

It is a REAL mixture here... there is very little sense to the "larger family home" sector of the market in this area. A city like this is always going to have it's oddities, though.

QT

Running_Horse

besonders1 wrote: »

Its funny how the property boom can delude people into thinking that houses can really stay at high prices even if no one buys them. Although not long ago no one ever believed that they would fall in value.

You could just as easily say how the crash has deluded buyers into thinking they can dictate the price someone else will sell their property for. If nothing is selling then there is no market, so why slash your price and still not sell?

My north Kent in-laws just went on the market at £15,000 above peak prices. They are not desparate to sell, and still need to buy somewhere else. Nethouseprice shows seven 2007 sales in their road, and only 2 for 2008. I suspect they will be there for a while.

Cissi

QTPie wrote: »

I am seeing a REAL mixture here in the larger family home sector of the market... (Bath area):
- some (including one I like, but haven't viewed yet... ) are still on at above the "ceiling price" for their road/area (i.e. late 2007/early 2008 prices PLUS a premium on top). Those generally have been on the market for some time and not had any offers accepted on them.
- a few that came on the market at overly optimistic prices and then left the market again (unsold).
- a few that have "tried it on at peak prices", but are now making cuts (and beginning to look more attractive).
- a few coming on at REASONABLE prices.
- one or two that have been on the market for a year (with few or no offers accepted on them) and then raise their prices (with or without a change of agent) :rolleyes:

It is a REAL mixture here... there is very little sense to the "larger family home" sector of the market in this area. A city like this is always going to have it's oddities, though.

QT

That is EXACTLY what I'm seeing here too (South West London) - although frustratingly hardly any that come on at reasonable prices. The other categories all apply though. And because there are so few on the market, some buyers are becoming desperate and putting in offers that are way too high in my opinion. I doubt that most of those chains will eventually complete though. And even if a few do, it's hardly sustainable in the long term

QTPie

Cissi wrote: »

That is EXACTLY what I'm seeing here too (South West London) - although frustratingly hardly any that come on at reasonable prices. The other categories all apply though. And because there are so few on the market, some buyers are becoming desperate and putting in offers that are way too high in my opinion. I doubt that most of those chains will eventually complete though. And even if a few do, it's hardly sustainable in the long term

Certainly the ones that have come on at reasonable prices here are not suitable for us... so I feel your frustration.

I am seeing a more outside of the city (about 10 miles away) coming on at reasonable prices, but don't want to live that far away (still, am beginning to have to think more seriously about it). I really shouldn't torment myself by looking at North Gloucestershire, Herefordshire and Worcestershire too: our money could buy something pretty special there now... Our fault for living in a popular city and setting up a business here...

It is frustrating - things MAY improve with time. I am seeing LITTLE improvements here, but certainly not nearly enough.

We bit the bullet and sold at a "realistic price" (but not a "bad price" - comparable to end of 2006 prices). Just need to be able to buy in a similar market to what we sold really. We could and would happily pay "late 2006" prices on a large family home, but we just cannot afford to pay "peak/ceiling (late 2007) prices PLUS an extra premium".

It is very difficult... Still, the housing market is certainly not dull or predictable :rolleyes:

QT

themanbearpig

Running_Horse wrote: »

You could just as easily say how the crash has deluded buyers into thinking they can dictate the price someone else will sell their property for. If nothing is selling then there is no market, so why slash your price and still not sell?

My north Kent in-laws just went on the market at £15,000 above peak prices. They are not desparate to sell, and still need to buy somewhere else. Nethouseprice shows seven 2007 sales in their road, and only 2 for 2008. I suspect they will be there for a while.

Your inlaw may as well not bother. They are just wasting the agents time. Its almost as stupid as trying to sell your car for as much as you paid for it when new. And asking 15% on top of peak just shows how utterly out of touch with reality they are.

The housing market is based on lending and confidence. These two factors solely created the boom.
Now confidence is down, people expect prices to return to normal (Normal is 40% off peak - If you look at the trends). Lending won't resume to levels sustaining the previous price levels.
The removal of 100% mortgages means that anyone buying will engage their brains before buying, as they will staking their own money, and chances are they will lose money, and end up in Negative Equity.

Running_Horse

While I agree they will be there a long time, what is the point them dropping the asking price by £50,000 just to end up in an inferior house in a rough area, that's if they can find a buyer at all.

Outside certain rough areas in north Kent, asking prices have not collapsed. In my village a dozen or so properties would come on the market in spring, and be sold by summer. This year you can count the new houses for sale on the fingers of one hand.