Debate House Prices


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MSE News: Upturn in number of homes for sale, surveyors say

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  • phil_b_2
    phil_b_2 Posts: 995 Forumite
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    DaddyBear wrote: »
    People "getting out" whilst they still can?
    I get the feeling we are witnessing the tide going out................ Before the Tsunami.

    It is a very small percentage of the general public who would expect prices to crash and try to 'get out'. It would be an even smaller percentage who view their house as a financial investment only and make a last ditch effort to offload it.

    I think most folk feel that business has resumed as usual and that they'll be able to sell now for a decent price to move on up.
  • Emy1501
    Emy1501 Posts: 1,798 Forumite
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    Rightmove are suggesting number of FTB's are drying up. If there is less demand at the bottom then prices may fall here. If that happens then people trading up have less money to spend and therefore prices at the top have to fall especially with less demand. Last year a fair few STR's keeping the market going but I suspect they wont be around too much this year.

    I can see prices falling if demand weakens at the bottom.
  • nembot
    nembot Posts: 1,234 Forumite
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    Bank of mum and dad has pretty much dried up, reality now bites and the inevitable is on it's way.
  • Cleaver
    Cleaver Posts: 6,984 Forumite
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    DaddyBear wrote: »
    People "getting out" whilst they still can?
    I get the feeling we are witnessing the tide going out................ Before the Tsunami.

    I only ever hear this type of language on this forum. It's really, really odd. It's like you're analysing a volatile mining stock rather than people's homes.

    Real people, in the real world do not "get out whilst they still can" when it comes to housing. They own a house because they need somewhere to live, somewhere to keep their kids and somewhere that's generally close to work.

    Do you honestly ever meet people in real life who say things along the line of: "Right, I'm selling this house whilst I still can. Come on wifey and three kids, let's sell the home we've been in for 8 years that we really like because of a small chance that the value will drop considerably. We'll move in with my Mum.". I've not heard talk along these lines.
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
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    Cleaver wrote: »
    I only ever hear this type of language on this forum. It's really, really odd. It's like you're analysing a volatile mining stock rather than people's homes.

    Real people, in the real world do not "get out whilst they still can" when it comes to housing. They own a house because they need somewhere to live, somewhere to keep their kids and somewhere that's generally close to work.

    Do you honestly ever meet people in real life who say things along the line of: "Right, I'm selling this house whilst I still can. Come on wifey and three kids, let's sell the home we've been in for 8 years that we really like because of a small chance that the value will drop considerably. We'll move in with my Mum.". I've not heard talk along these lines.

    Have you ever been to the homes of anyone in this forum?

    I'll be honest, I think I'm more..imperitive?..in my language when its spoken (and I don't have the spelling issue, just the vocab)
  • Cleaver
    Cleaver Posts: 6,984 Forumite
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    Have you ever been to the homes of anyone in this forum?

    Just your's. Can't remember much about it though, I'd had a quite a lot to drink by that point. Was that mirrored ceiling in your spare bedroom or the playroom?
  • lostinrates
    lostinrates Posts: 55,283 Forumite
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    Cleaver wrote: »
    Just your's. Can't remember much about it though, I'd had a quite a lot to drink by that point. Was that mirrored ceiling in your spare bedroom or the playroom?
    :rotfl::rotfl:

    ah yes, no wonder you weren't listening to the apocalyptic language....
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    First Post First Anniversary Combo Breaker
    edited 9 March 2010 at 8:54PM
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    phil_b wrote: »
    It is a very small percentage of the general public who would expect prices to crash and try to 'get out'. It would be an even smaller percentage who view their house as a financial investment only and make a last ditch effort to offload it.

    I think most folk feel that business has resumed as usual and that they'll be able to sell now for a decent price to move on up.

    You are correct here.

    From my point of view though, if I was looking at selling, and keeping an eye on the market, last months figures would spur me into action.

    I wouldn't be looking to sell to relieve myself of my house, I would be looking to sell to move to another home. And to be honest, the thought of the market going to same way as it did in 2008, and me being completely stuck with a house I want to move from, would make me bite the bullet and put it up for sale now.

    Main thing in my mind would be
    A) I wouldn't want ridiculous time waster offers because of the market. Market value is fine, but 20% off as house prices are falling, couldn't be bothered with.
    B) More likely to get more potential buyers in todays market, than in a falling market, so more likely to get a sale
    C) That sale will allow me to move to the next house I want. Maybe quicker than I anticipated, but I'm not sat in a home I am finding difficult to sell for longer than expected.

    I can only guess that a lot of people will have the same thoughts. And this is how I relate to "get out while I can" though appriciate some will see that in an entirely different way dependant on their reasons for selling the house.

    Let's put it this way. Last years increase in second hand car prices and desperation for second hand decent cars, had me sell my car quicker than I had expected too. The chance was there and I wasn't going to miss it. Got a lovely deal on my part exchange, well over book price.
  • treliac
    treliac Posts: 4,524 Forumite
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    Cleaver wrote: »
    We'll move in with my Mum.". I've not heard talk along these lines.

    That wouldn't be so bad. We may not expect to live more than one family in a house these days but in my grandmother's day it was perfectly normal, either whilst trying to get your own home together or on a longer term basis.
  • Emy1501
    Emy1501 Posts: 1,798 Forumite
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    Cleaver wrote: »
    I only ever hear this type of language on this forum. It's really, really odd. It's like you're analysing a volatile mining stock rather than people's homes.

    Real people, in the real world do not "get out whilst they still can" when it comes to housing. They own a house because they need somewhere to live, somewhere to keep their kids and somewhere that's generally close to work.

    Do you honestly ever meet people in real life who say things along the line of: "Right, I'm selling this house whilst I still can. Come on wifey and three kids, let's sell the home we've been in for 8 years that we really like because of a small chance that the value will drop considerably. We'll move in with my Mum.". I've not heard talk along these lines.

    Back in 2008 a Large chain of agents started a section called chain free. Not everyone looking to sell is a family. I know 2 people looking to sell 2nd homes now the market has picked up. There will also be splitting couples inheritance properties etc.
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