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Debate House Prices
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This is very bad news.....
Comments
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i valued it at 270k as this was before meltdown..
Yes but what you valued it for is irrelevant.what a few people do not get is round here the housing market is on its knees and has been for two years.....
We can see for ourselves what the sold prices have been doing in Chester.
The Land Registry helpfully tells us......
Jan 07 average house price 172K.
Peak house price 181K.
Trough house price 152K.
Current house price 161K.
So yes, Chester was hit hard as geoffky claims, but it has not seen 40% price falls by any stretch of the imagination. Less than 20% peak to trough. More like 12% now.
The market is recovering, and at the start of 2010 is just 11K below the level it was at the start of 2007. An amount that is easily wiped out by the higher bank margins now and the costs of renting since.
As with most places, the average bear, buying the average house in Chester gained little to nothing from delaying purchase from then til now.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
are you for real...your wrong but why should i plaster my new address over tthe internet....you are bothered about something..Is it the fact that i have posted something that does not fit in with you little world and prices can fall nearly 40% and i can always point to this when you knobs say there has been no price crash.....well there has here..or do you feel a idiot for buying at the top of the boom with a stupid mortgage.new_home_owner wrote: »I reckon the house you bought was bought by the previous people in 2003/4 for 166000.
only you know the answer, but you dont seem to want to share it with anyone.;)
166k:rotfl::rotfl::rotfl::rotfl:.It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
hamish your talking average....some may of gone for 50% off some 10% off could it not..and this game is no where near over...when the free money stops...then what????It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
cash purchase...no problems..Then you'll finally get your wish and your house will be worth 90k instead??It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
HAMISH_MCTAVISH wrote: »We can see for ourselves what the sold prices have been doing in Chester.
The Land Registry helpfully tells us......
Jan 07 average house price 172K.
Peak house price 181K.
Trough house price 152K.
Current house price 161K.
So yes, Chester was hit hard as geoffky claims, but it has not seen 40% price falls by any stretch of the imagination. Less than 20% peak to trough. More like 12% now.
Let's say that this crash had never happened and that house prices had risen 8% between Jan 07 and Jan 08, then anothe 8% between Jan 08 and 09 and then again 8% between Jan 09 and Jan 10. Without the crash that average house in Chester would now be £216k. I guess this is what 'most' people were expecting in 2007.
But as you point out above, the current house price is £161k. So you could argue that waiting to buy now after seeing there was a bit of a crash would have saved the average Chester house buyer £55k, in a strange way.
This is why people are happy to buy now I think. People were saying that house prices would never even stagnate, let alone fall.
This is another post where I've got to the end and I'm not sure what point I'm making. Pull me apart Hamish, I'm begging for it.0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »http://www.telegraph.co.uk/finance/economics/houseprices/7539267/UK-housing-market-double-dip-fears-subside-slightly.html
Capital Economics are sounding slightly less bearish!!!!!:eek:
Bad news for the property market could be ahead. Last time they turned bullish, we had the biggest crash in history!!!!!! :rotfl:
I wouldn't worry Hamish, until they finally predict a rise. That, to me, would be the signal to SELL all (and buy Gold)
:T0 -
nollag2006 wrote: »SELL all (and buy Gold)
:T
Dude, you're like a stuck record.
Do you realise it wasn't witty or funny the first time round?0 -
Dude, you're like a stuck record.
Do you realise it wasn't witty or funny the first time round?
"Dude", you've elevated obnoxious trolling to a new art form.
And coming from me, that's high praise.....
But why are you here exactly, seeing as how you never engage in debate, just repetitively troll?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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