It's official: Property has risen this year and is set to climb by 15% within 2 years

MissMoneypenny

rumbaba wrote: »

They have gone up round my way and have been doing so all year.

What area is that?

Murdina

I sold 2 houses and bought one this year all in very different parts of the country. All 3 went for well below the asking price whatever estate agents may say.
The supply of property in certain categories is very very limited. I lost one purchase and if I had lost the next one there was quite literally NO other house for sale in a 15 mile radius that would have met our requirements which were by no means obscure.
I think a lot of people put off moving in 2008 so in 2009 there was a certain amount of pent up demand but with limited supply prices went up. The number of transactions remains very small. They are also as pointed out above skewed to more expensive properties where the band within which prices are negotiated are quite large eg 10,000 or even 50,000 which can distort results.
I expect the market to be quite stagnant for years to come.
If anyone thinks things look good then try selling your house!!!!

Blacksheep1979

honeypopper wrote: »

I can only speak as I find and the fact is that my brother, aunt, cousin and 3 friends have all sold their houses within one month of marketing them, and they all got the asking price. They were all in the £300 to £450 price band,

I'm not surprised they were snapped up quickly at those prices...

maturelearner

Speaking to an estate agent (off duty) in July this year she forecast, in her humble opinion, a rise of house prices for 18 months to 2 years, followed by another slum.

A "W" shaped recession. Due to a shortage of buyers.

I also have read that many European countries got out of recession sooner than us simply due to the fact far less people buy in many european countries, choosing to rent and save rather than buy.

rumbaba

Oh you don't want to believe what estate agents tell you - they know nothing! Just ask some of these old stalwarts on here - they'll tell ya!

Besides, what she told you is extremely inaccurate. Greece, Spain and Italy are more or less bankrupt now, so that's a large chunk of Europe that's miles away from recovery!

brit1234

breadlinebetty put this thread on the other forum room. Posting it on two rooms doesnt make it correct.

Remember interest rates are at 0.5% and will most likely go up this year. Bank loseses are huge and growing with the US housing market getting far worse.

House prices are extremely overvalued, do you really think people will have access to funds to support futher rises. Just look at the economy, job loses, tax rises, wage cuts etc.

People open your eyes, this article is rubbish. This is pure house price speculation, ramping and scare tactics.

Be patient, asking prices have fallen 3 months in a row and now you have to pay stamp duty on top.

Prices in 2010 will crash back towards normal levels.


:exclamatiWhat happens now if you max out and rates go up as your property falls in value?

Becarefull, save and don't panic buy

rumbaba

There's no forum rules to say people can't post the same topic in two rooms.:money: So there's nothing incorrect about that! If Breadline Betty, or anyone else, want to post in different rooms they can do. Lots of people on here post more or less the same old stuff day in and day out; the only difference is they use a different heading. One member actually drags up posts from months back when things aren't swinging her way!

Anyway Brit, as you seem to know EVERYTHING, and you know exactly what;s going to happen next year I suggest you apply to the government and tell them you'd like to advise them,:rotfl:

Aas for you saying house prices have fallen 3 months in a row........how WRONG you are! Don't you read??????????? They have risen!!!!! Yes, risen!!!!

And as for stamp duty - we've ALWAYS had to pay stamp duty on property over £250k - nothing new about that!!

You clearly have never bought a property, and you don't understand what happens when you do.

Pont

I bought three months ago and secured a good property in a 'nice' area at 25% below the asking price - I'm happy (for now). However, looking at the local market, Welsh Marches, and talking to local people, I can see no prospect of any price rises in the near future. I would hazard a guess that there are still further price drops to come as there is no confidence in the market. Everybody is running scared of potential interest rate rises and of loosing their jobs. No security = no growth.

Also we're all more savy these days and are aware that somebody (us) will have to pay for massive government overspending during the past 10 years or so. The days have long gone when we can get talked into rejuvenating the market by the government of the day. I believe it's going to get a lot worse before it gets better, simply because the populace doesn't believe the hype anymore.

googler

rumbaba wrote: »

Aas for you saying house prices have fallen 3 months in a row........how WRONG you are! Don't you read??????????? They have risen!!!!! Yes, risen!!!!

Yes, but WHICH prices? Averages over the whole price range? Averages within price ranges? Something else?

As I said earlier, prices based on averaging all sales went up by 16% between the first and second halves of this year in my county.

I don't believe that anyone is getting higher prices for their houses, but can see that when the volume of sales for everything below 200k goes down, and the volume of sales for almost everything over 300k goes up by over 100%, then the net effect is that 'prices' (i.e. the average price over the whole price range) go/goes up ...... but this doesn't necessarily indicate any real increase in the value of property.

stueyhants

rumbaba wrote: »

Oh you don't want to believe what estate agents tell you - they know nothing! Just ask some of these old stalwarts on here - they'll tell ya!

Besides, what she told you is extremely inaccurate. Greece, Spain and Italy are more or less bankrupt now, so that's a large chunk of Europe that's miles away from recovery!

IR are at record lows, affordability is stretching to breaking point, wages are flat, banks are not lending at the same volumes as before and will not for the foreseable future and the UK governement is technically bankrupt but has so far managed to avoid the IMF because it's making up money via QE. With all this you think house prices are going to rise, laughable I'm afraid.
That said, I don't expect a massive crash dowwards either. Bumping along the bottom for 5+ years.