Lack of supply pushing up prices

nembot

The only reason for a slight reduction and I mean slight, is people couldn't sell for the silly money they think their house was worth, so they pulled it off the market.

Pity they missed the boat eh?

IveSeenTheLight

Sir_Humphrey wrote: »

It must give way at some point. Yorkshire (where I grew up) is still falling, yet London varies from increases to stable depending on area. If this continues for a few years, you will find a lot of people (myself included) upping sticks.

Why should I struggle to buy a small flat in London when a smaller wage could buy a family house up north? It is no contest. There will be no young middle class people on normal professional wages left in London at this rate.

"It must give way at some point. "
It's a market, fueled to a large extent by supply and demand.
it will give way as supply or demand adjusts. It's not necessary that it will be in a downward movement.

"Why should I struggle to buy a small flat in London when a smaller wage could buy a family house up north?"
You don't have to? It's your choice? It seems you will either add to the demand in London or "up north". People always have a choice, whether to buy or rent, where to stay or indeed what type of property. Again its the supply and demand which sets the prices

the_ash_and_the_oak wrote: »

So they can sell their house? I mean - I'm presuming people selling their house want to actually move?

(tho often price itself isnt the problem - as my parents have found out - loads of offers - at asking price! but eac time its..."just as soon as we sell ours"

I would also tend to agree that if a house is marketed then the sellers want to sell.

In your example, your parents have received loads of offers at asking price. Seems obvious that they might indeed need their asking price in order to be able to buy your parents at asking price

Maybe your parent should offer a 10% discount from the already received asking price offers so that the buyers can offer their property at 10% less.

That is if your parents want to sell :rolleyes:

the_ash_and_the_oak

IveSeenTheLight wrote: »

I would also tend to agree that if a house is marketed then the sellers want to sell.

In your example, your parents have received loads of offers at asking price. Seems obvious that they might indeed need their asking price in order to be able to buy your parents at asking price

Maybe your parent should offer a 10% discount from the already received asking price offers so that the buyers can offer their property at 10% less.

That is if your parents want to sell :rolleyes:

Definitely feeling this one. They've accepted offers at asking price, above asking price and quite a bit below as well! afaik quite a few of these are still on the table

the_ash_and_the_oak

Do agree that they kind of part of the "problem" tho. They don't NEED to sell. Can't see them moving anytime soon tbh

Conrad

mbga9pgf wrote: »

The day the government stop support for mortgages for those that cant be @rsed to pay (14 months and counting), at around the same time the civil service is being pared to the bone, vat hits 20%, QE is stopped, public sector pay freeze and we realise we are in it for the long haul.

Gosh how did we get an early eighties property boom, given we had 4m out of work and so on?

QE will ease out as growth fills the void, so that's the end of that argument.

PS yayfreezes we've had ever since I can rmember, but in the end they have no discernable effect, so that's that out the way.

VAT - the pessimists said removal had no effect, yet now they argue replacing the small reduction will have an effect. Mmm that makes a lot of sense.

You permabears are the new puritan religious zealots. They told us for centuries we had plagues and pestilence due. Some Humans always think this way.

Sir_Humphrey

chucky wrote: »

that is total rubbish - get yourself out of the public sector, get youself a decently paid job instead of hanging out for your 'golden pension' and you'll be earning enough to buy.

get yourself away from blaming everyone from your job not paying you enough and accept your career choice as the main obstacle from you being able to afford to buy.

there are plenty of people earning a salary that allows them to buy in London.
middle class or whatever class they like to massage their ego with

Silly post. I know plenty of people in the private sector who are also priced out. If they decide to move, that reduces demand in London and puts downwards pressure on prices.

The policy parts of the Civil Service will always be based in London and therefore will pay the wage needed to support staff there. A company will do the same. Or they relocate, removing housing demand from London.

I don't desperately need to buy now, it is a choice so I am quite happy to sit tight for the time being. I am thinking more in five years time.

the_ash_and_the_oak

Conrad wrote: »

Gosh how did we get an early eighties property boom, given we had 4m out of work and so on?

QE will ease out as growth fills the void, so that's the end of that argument.

PS yayfreezes we've had ever since I can rmember, but in the end they have no discernable effect, so that's that out the way.

VAT - the pessimists said removal had no effect, yet now they argue replacing the small reduction will have an effect. Mmm that makes a lot of sense.

You permabears are the new puritan religious zealots. They told us for centuries we had plagues and pestilence due. Some Humans always think this way.

tbf I only think pestilence is on the way some of the time and I don't think you'll be able to any posts where I've mentioned plagues (tho you may well be right about a couple of the other bears imo)

Going back to more relevant matters - the early 80s is an interesting one. One of the things I think thats been concurrent with post-war rising prices has been rising owner-occupancy stats (it is interesting that this increased during periods of unemployment for sure)

Conrad

chucky wrote: »

that is total rubbish - get yourself out of the public sector, get youself a decently paid job instead of hanging out for your 'golden pension' and you'll be earning enough to buy.

get yourself away from blaming everyone from your job not paying you enough and accept your career choice as the main obstacle from you being able to afford to buy.

there are plenty of people earning a salary that allows them to buy in London.
middle class or whatever class they like to massage their ego with

So that couple I saw yesterday can't afford London? She's a special needs worker on £26700 and he's a police officer on £33500 with overtime. They are very happy to pay London prices.

Conrad

the_ash_and_the_oak wrote: »

tbf I only think pestilence is on the way some of the time

Why do some people always filter out the counterbalancing 'positive' factors and simply focus on the clouds? What drives this thought process?

the_ash_and_the_oak

Conrad wrote: »

So that couple I saw yesterday can't afford London? She's a special needs worker on £26700 and he's a police officer on £33500 with overtime. They are very happy to pay London prices.

What did they buy?

I earn 40k and have to be honest don't really have any problem paying London rent