Zoopla such a joke!!

Cissi

Well I'm pleased anyway Just checked and it's estimating our house as 13% higher than we bought it for last July. I actually think that's about right, based on other sales recently achieved nearby - but I do wonder what will happen to the estimates once next door's sale appears on the register - basically same house but vastly extended, and sold for 2.2 times what we paid :eek:

nollag2006

Sounds like you got a good deal Cissi ! Good for you

nollag2006

bigheadxx wrote: »

Even if you could quantify that as true it is still delusional to think that prices will rise in real terms over the next 5 years.

With a well argued cogent polemic like that, it's convinced even me.

I'm off now to join the rest of the tin hat brigade, and to sell all my worldly possessions and put it under the mattress


:rotfl::rotfl:

Tim_Deegan

A property is only worth what people are willing to pay for it. So how else would you value house prices if it wasn't done by sale prices???

bigheadxx

Tim_Deegan wrote: »

A property is only worth what people are willing to pay for it. So how else would you value house prices if it wasn't done by sale prices???

That isnt strictly true either. People still have the mindset that property prices will increase in value by more than any other asset class. People are still willing to pay based on this concept which means that people may still be buying houses that will be worth less in 2,3,4 or 5 years time.

bigheadxx

nollag2006 wrote: »

Sounds like you got a good deal Cissi ! Good for you

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

ukcarper

bigheadxx wrote: »

That isnt strictly true either. People still have the mindset that property prices will increase in value by more than any other asset class. People are still willing to pay based on this concept which means that people may still be buying houses that will be worth less in 2,3,4 or 5 years time.

What it's worth in 2,3,4 or 5 years time is what it's worth in 2,3,4 or 5 years time what it is worth now is what it sold for. It could be worth more or less in 2,3,4 or 5 years time but that doesnt alter what it is worth now.

Tim_Deegan

ukcarper wrote: »

What it's worth in 2,3,4 or 5 years time is what it's worth in 2,3,4 or 5 years time what it is worth now is what it sold for. It could be worth more or less in 2,3,4 or 5 years time but that doesnt alter what it is worth now.

Exactly my point.

A house isn't worth more if people won't pay more. It is only worth what people want, or can afford to pay. The reason people can't afford to pay as much now is because the banks aren't lending as much as they used to. In 2,3,4 or 5 years time they may be.