***House prices up 1.2% in May***

mr.broderick

mewbie wrote: »

I was being modest Chucky. I suspect my understanding is at least equal to yours, but I present it in a considerably less boring manner. I am not afraid to speak my mind on here, rather than offer mealy mouthed statements like "it might do this, or it might do that - who knows". All it seems you contribute is a constant undermining of other posters with whose views you disagree.

To be fair i feel chucky has been picking on you lately mewbs, god only knows why this is.(please be aware i really like chucky) It is not as though you are some crazy bear who posts relentless threads of doom, you are one of the more balanced posters.
It would be interesting to know why chucky has singled you out, of course you could be both of these posters which wouldn't surprise me in the least. Can i take this opportunity to congratulate manchester united on an excellent season let down only by 80 minutes of poor football.

chucky

yes i am mewbe - i have to come out now

mewbie_2

mr.broderick wrote: »

It is not as though you are some crazy bear who posts relentless threads of doom, you are one of the more balanced posters.

Thanks Mr. B. I believe the bear argument, have done for years, finally seems to have happened. I don't believe its the end of the world, but everything I read tells me not to think its over yet. I don't have any vested interest, although if houses became credit card cheap I might be tempted pensionwise for a BTL.

I am only relaying my interpretation of the truth / facts as I see them - and of course trying to have some fun on here.

Married, kids, work, house - just the same as you I suspect, and many others on here.

Vinegartits

pickles110564 wrote: »

Dear Vinergartits,
Just a couple of small points, a local builder who I know very well was the first to have a bid accepted at he was the one who quoted how much needed spending to bring it up to the correct size for the plot.
As you know it has the largest plot in the road but is one of the smallest in area size. It has damp throughout and needs all the render coming off the house and then having metalwork fitting and re rendering. You find anyone that will undertake that for less than £10k and then you have the repainting, this is just external cosmetic work.
The garden needs completly landscaping as at the moment the back looks just like a field with no planting at all.
Also please tell me any other houses in the road that have 5 bedrooms.

Builders quote a minimum of 20% over and above what it will actually cost, any fool knows that - the improvements you describe would cost £15k maximum, extension £20k max, kitchen and bathrooms another £10k. I have built a house from scratch and know what these things actually cost rather than what builders say they cost. However, that still makes the property unsuitable for investment purposes - £50k spent on it now will not give any return on the investment for many years.

Back to your property, I assume your comment about 5 bedrooms means you have an extra room downstairs you are calling a bedroom? In which case most of the houses in the road are "5 bedroom", yours is certainly nothing special. In my honest opinion, your property lacks kerb appeal; the drive is cheap and shoddy and the frontage is ghastly. As far as I can tell you have merely recycled existing windows and doors and the overall impression is unappealing and I for one would not bother viewing it even if you had crammed in 10 bedrooms.

My final point is that instead of buying a new car you should spend some money on the drive - a sixties pebble and concrete monstrosity like that says unfinished, ran out of money and couldn't be bothered to me and you certainly won't be getting anywhere near top price until you deal with it.

Kenny4315

Ho Ho Ho ...... looks like the housing dream is over ... and the renting nightmare continues ...

pickles110564

Vinegartits wrote: »

I have built a house from scratch and know what these things actually cost rather than what builders say they cost.

Still got your lego then? :rotfl::rotfl::rotfl::rotfl:

ciano125

Getting back to The Nationwide figures for a moment though, the figures quoted show a 1.2% rise, however they are based on a greatly decreased number of sales than we have been used to. A 1% increase based on 100 houses selling doesnt hold as much weight as a 1% increase shown if 1000 houses have sold.

Further to that, as I see it anyway, house prices are still falling, just not at a rate as fast as we have seen previously. House price "growth" is still -8% or so isnt it?

chucky

ciano125 wrote: »

Getting back to The Nationwide figures for a moment though, the figures quoted show a 1.2% rise, however they are based on a greatly decreased number of sales than we have been used to. A 1% increase based on 100 houses selling doesnt hold as much weight as a 1% increase shown if 1000 houses have sold.

those same Nationwide volumes are still higher than were being sold when prices were falling in the consecutive months. so more volume now, but it's not good now. i'll leave that with the people that Thank your post.

when the volume was lower and prices falling - the Nationwide figures were good enough but their questionable now.
i've always said they weren't and still aren't great indicators by the way.

ciano125 wrote: »

Further to that, as I see it anyway, house prices are still falling, just not at a rate as fast as we have seen previously. House price "growth" is still -8% or so isnt it?

it would all depend on when you buy - if you bought a year ago an average Nationwide property (i'm not sure where you can buy one of those) you would be down.

if you bought a few of months ago - you would be making money on your property.

February 2009 £147,746
March 2009 £150,946
April 2009 £151,861
May 2009 £154,016

that's a 4.24% increase in 4 months - i'll let you work out the annual average from that

StevieJ

chucky wrote: »

those same Nationwide volumes are still higher than were being sold when prices were falling in the consecutive months. so more volume now, but it's not good now. i'll leave that with the people that Thank your post because..

when the volume was lower and prices falling - the Nationwide figures were good enough but their questionable now. i've always said they weren't and still aren't great indicators by the way.

Interesting, Dopester is always telling us that it is the marginal sales that count, but is that only when the market is falling

mewbie_2

This link to a two month old article shows that the odd % here and there doesn't really amount to anything. I hope you will enjoy it because it has lots of graphs, although it is a teensy bit bearish.

http://www.moneyweek.com/investments/property/uk-house-prices-will-plummet-look-at-this-scary-chart-14664.aspx?utm_source=newsletter&utm_medium=email&utm_campaign=Money%2BMorning

It's enough to keep me convinced there is a long long way to drop yet. On the plus side, I may be able to snaffle some repossessed BTL's at the very bottom. I am sure that will meet with any bulls approval.