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Debate House Prices
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Sellers drop prices as extra homes flood property market
Comments
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Haven't heard someone talking about supply and demand for a while.
Wonder why.0 -
Chaos_A.D. wrote: »And so it begins........ what has been blindingly obvious will happen for the last 18 months, unless of course you are a VI, in which case congratulations in burying your head in the sand and putting your fingers in your ears for such an extended period.:D
This, and we haven't even had rate rises or banks following their normal repo procedures yet.
It's nearly time to reach for the popcorn.:D
Wait a minute who are these VI's? putting there fingers in their ears? from the facts you can only mean those of a bearish persuasion
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Some new flats near me have just gone on the market at £800k ... I'd love to know who they think will be buying them and what for. Are they expecting celebs to snap them up, to rent to other celebs? Or who? You could buy flats on Sandbanks cheaper I bet.0
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I think anyone expecting interest rates going up above 1% in the next 5 years will be disappointed.
BUT, for bears-in-waiting, rejoice over the unfortunates dropping off the end of the support for mortgage scheme from this christmas onwards....
You might be able to get a repo cut price bargain like I did for 30% off what the last occupants paid for it.. we only realised last week the price of the house they paid didnt include the 3/4 acre paddock they bought off the next door farm for 20 grand! If they had actually bothered to tidy the place up before they got repoed and spent a little time sorting it out, they might have actually paid off all of their 400K worth of debt.0 -
I think anyone expecting interest rates going up above 1% in the next 5 years will be disappointed.
BUT, for bears-in-waiting, rejoice over the unfortunates dropping off the end of the support for mortgage scheme from this christmas onwards....
One problem is with rates so low housing benefit will more than cover the IO part of a mortgage.0 -
I was out earlier playing 'count the for sale signs' in my street. There is usually one or two, currently there's 9 and one sold at auction sign.0
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just to bring a fact or two to the debate which should have already been very obvious... supply of property on the market was actually higher in June than it was for July according to Rightmove.Chaos_A.D. wrote: »And so it begins........what has been blindingly obvious will happen for the last 18 months, unless of course you are a VI, in which case congratulations in burying your head in the sand and putting your fingers in your ears for such an extended period.:D
probably not important though...0 -
Round My Way .... every day there were always 100 new houses coming up in RM using the criteria: whole of the county, in the last 24 hours. A month or so ago, that went to 150/day. Today it's 200.0
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Of course new property search in rigtmove now also brings up price reductions so a good proportion of the 200 will be properties already on RM but just reduced ~(again) in price.
However before the cries of Timber I think this will be self limiting - falling prices will again subdue supply as well as demand and it will be back to stagnation at the bottom again. Then again I have been wrong before.PasturesNew wrote: »Round My Way .... every day there were always 100 new houses coming up in RM using the criteria: whole of the county, in the last 24 hours. A month or so ago, that went to 150/day. Today it's 200.I think....0 -
BUT, for bears-in-waiting, rejoice over the unfortunates dropping off the end of the support for mortgage scheme from this christmas onwards....
They had 2 years of benefits to sort themselves out - 3 years if they took an insurance policy out.
Plus:-
To ensure that Support for Mortgage Interest (SMI) is better targeted we will reduce the rate from 1 October 2010 from 6.08% to the Bank of England average (currently 3.67%).
http://www.dwp.gov.uk/newsroom/top-stories/RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0
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