New LR sold figures released yesterday in my area - some great drops!

carolt

Minimum 10 years - still more expensive than they were when I last applied for 1 in early 2007 - we were offered 5.49% then, despite the base rate being much higher.

Thus I don't necessarily believe that long term fixes will rise even as base rates do - there's plenty of room to cut margins instead.

At the moment, banks are choosing to have high margins partly to protect them in case of further price falls. Once house prices have fallen sufficiently and the bottom is seen to have been reached, I think that they will see long term lending as a less risky bet.

That's my view, anyway.

I may be wrong and I daresay someone will be along to rubbish it in a moment.

But I'm happy to put my money (or rather not put my money, at the moment) where my mouth is.

Put it this way - whatever green shoots stories the media are printing, I can't say I personally feel spooked and like I have to rush in.....

chrisandanne

carolt wrote: »

Pleased to note that there are no price jumps in my area, far from it - houses that at peak were asking 325-350K, and selling for around 300-350K, are now all selling at 230-250K. Some of them came on at peak and slowly worked their way down. Much more like a comfortable multiple of salary.

Glad to hear it carolt. Here in rural W.Yorks the area I monitor is still dropping, though some chancers are still putting them on for sale at 2007 prices and then drop £5k every month or so.

Also although everyone keeps saying people will not put their house on the market there are more houses for sale here now than at the start of 2008. I think people are trying to offload for the best price they can get because they know HPI is a thing of the past.

A x

avantra

Well done Carol!

I had a look today in all 7 surviving EA in our district (we had over 17 last year) and they all have new listings on their windows, let's put it that way, me and and the better half bring home around 55k combined, when we moved here in 2006 (GL11) there was hardly anything decent (we want a 3 bedders with a large garden for veg ) and now they are all over the place.

It is important to point out that our combined income didn't change much in the last 3 years and my take even gone down a bit due to a job change.

chucky

carolt wrote: »

No, I'm comparing the sold prices of very specific houses with others that I happen to know to be well-nigh identical in the same street. No index I know of would give me that information.

So I'm deliberately not comparing 2 in the same street where I know they are of different sizes, even if the indices would be unable to tell them apart - both semis, say.

My index is both more personal and far more accurate.

that's a good stategy

carolt

Why thank you.

chrisandanne

carolt wrote: »

No, I'm comparing the sold prices of very specific houses with others that I happen to know to be well-nigh identical in the same street. No index I know of would give me that information.

So I'm deliberately not comparing 2 in the same street where I know they are of different sizes, even if the indices would be unable to tell them apart - both semis, say.

My index is both more personal and far more accurate.

I am doing the same and I check nethouseprices for previous sales. I know exactly what's happening in my area and don't give a dam* about what's happening in the rest of the country. Stats are meaningless if they're not relevant to your area.

A x

PasturesNew

carolt wrote: »

The (long overdue) LR sold prices arrived in my inbox yesterday

Which system/site/service do you use then?
houseprices.co.uk updated the online figures on 30/07/09 for the period to 30/06/09

carolt

I use a few - this particular batch came courtesy of zoopla - the update I had from ourproperty.co.uk a couple of days ago only gave me 1 property - this had loads.

Shall check houseprices.co.uk. Ta.

carolt

Just checked - yes, that's got them all too, but I'm not registered with them. Have no done so. The more the merrier!

PasturesNew

carolt wrote: »

Just checked - yes, that's got them all too, but I'm not registered with them. Have no done so. The more the merrier!

If you use houseprices.co.uk and look at it in Firefox, then there is a nifty plugin that will enable you to click on any property and it will instantly group together every sale of that property in the past and do a calculation of profit/loss made. I use the site just for that plugin.

Plugin is two-part: first you need to find/install Grease Monkey and Property Chimp.

1] Launch Firefox
2] Go here https://addons.mozilla.org/en-US/firefox/addon/748
3] Install that
4] Go here http://userscripts.org/scripts/show/31220
5] Install that

Then go to http://www.houseprices.co.uk when in Firefox and once it's loaded you can see all the sales grouped together... but also in date order still.