A Real Reflection of The Housing Market?

pault123

I've got loads of rightmove examples in my area of houses which have been on the market for 1-2 years. In the last few months they've dropped by £20-£30k and surprise surprise sold within 4 weeks!

Property bee is great

Dirk_Rambo

doire wrote: »

https://forums.moneysavingexpert.com/discussion/1707749

Loads and loads of people unable to sell.

Maybe they should lower their price then?

nothing's selling round my way. sellers need to get real about prices or they'll never be able to sell their houses.

DaveyDave_3

Blacklight wrote: »

It just confirms that people won't sell at reduced prices unless they have to.

That's just common sense.

Errr. Well what price will they sell for then?. ie. what is the 'correct' market price?. Just because the prices have generally fallen doesn't mean that the current prices are any more or less valid. Are we saying that people will only sell at the highest price that a similar property has *ever* sold for?. That would clearly be ridiculous. Would you not buy Euros because 5 years ago the UKP-to-Euro exchange rate was more favourable?. What about shares or gold?.

At the end of day, property is worth what someone is willing to pay for it in the current market. It does worry me that the removal of HIPS will mean that vast numbers of lazy potential sellers will enter the market. Frankly, if these people are serious about selling then the few hundred quid for a HIP is not going to make any difference. The fact that Assert were reporting that the number of houses entering the market increased by over 30% last week (following the HIPS abolishment) suggests to me that many of the current sellers are simply not serious about selling. Using Property Bee, I've monitored the property for sale in my area. There are some that have been on the market for years and not reduced the prices 1 pound!. I bet the EAs loves them!!.

Dave

mbga9pgf

We just bought, at equivalent Q2 2004 prices.

Sellers need to suck up the fact their equity is dissolving, and fast. What 40% CGT will do to their beloved retirement nest egg when the !!!!ers sell en masse isnt worth thinking about.

sss555s

mbga9pgf wrote: »

We just bought, at equivalent Q2 2004 prices.

Sellers need to suck up the fact their equity is dissolving, and fast. What 40% CGT will do to their beloved retirement nest egg when the !!!!ers sell en masse isnt worth thinking about.

I've just came back from 2025 in my time machine and mb was still participating here but he had paid off his mortgage years ago and had 3 "investment properties" on the go.

He was having a right "ding dong" with carolt who was still renting :undecided

Michal_Konicek

I think that house prices have only one way to go once inevitable rise in interest rates will come into force while massive cuts in public and with that private sectors are undergo. Rise in house prices of past 8-9 (?) consecutive months is interesting, but in larger scale of 2010-2020 only small blip. Seems like cash buyers in near future (few years) will be buying for very good prices as high (6-10%) interest rates will very likely push nominal price down by even 30% or more to make payments affordable. So if you will have cash or big deposit, you might get real bargains. If you need bigger mortgage, not much changes - lower prices will be largely neutralised by high interest rates.

Disclaimer: I am renting, wanting to buy in 2013-15. Opinionated - very likely.

carolt

chucky wrote: »

one house is the real reflection of the housing market... nice work.

that's the spirit - never say die.

The thread has 184 pages, chucky.

I suspect that's more than 1 house, somehow.

ruggedtoast

A thread specifically created for people who are having trouble selling their houses can't really be seen as representative of anything other than itself.

Its like going to a hospital and assuming everyone in the world is sick.

chucky

ruggedtoast wrote: »

A thread specifically created for people who are having trouble selling their houses can't really be seen as representative of anything other than itself.

Its like going to a hospital and assuming everyone in the world is sick.

but at least it suits some people to think that a representation like that is realistic. deluded.

nollag2006

Isn't it funny the number of bears who live in "Round my way", where property prices continue to fall irrespective of published upward national and local trends?

Shame that so few of them provide any evidence for these supposed price drops, other than reference to one or two flats on property bee