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Debate House Prices


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Would you sell me your house for 50% of its current valuation?

Blacklight
Blacklight Posts: 1,565 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
in Debate House Prices & the Economy
There's a number of people who state that falling property prices are a good thing and that it's inevitable that values will fall off a cliff any time now.

I'm just curious whether you would be prepared to sell me your current property at 2011 prices now?
«13

Comments

  • System
    System Posts: 178,377 Community Admin
    10,000 Posts Photogenic Name Dropper
    Me too, for the good of the children etc.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Blacklight wrote: »
    There's a number of people who state that falling property prices are a good thing and that it's inevitable that values will fall off a cliff any time now.

    I'm just curious whether you would be prepared to sell me your current property at 2011 prices now?

    Would you step out in front of a bus to show that it's a silly thing to do?
  • twadge_face
    twadge_face Posts: 594 Forumite
    Blacklight wrote: »
    There's a number of people who state that falling property prices are a good thing and that it's inevitable that values will fall off a cliff any time now.

    I'm just curious whether you would be prepared to sell me your current property at 2011 prices now?
    Daft as a brush.

    Can I please buy your house for 3 times the current valuation? Obviously it'll triple again in 10 years (or more in the hyperinflationary scenario.

    Lock in those gains now, folks! Er... ;-)
    Long live the faces of t'wunty.
  • Blacklight
    Blacklight Posts: 1,565 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    !!!!!!_face wrote: »
    Can I please buy your house for 3 times the current valuation?

    If you like.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Blacklight wrote: »
    There's a number of people who state that falling property prices are a good thing and that it's inevitable that values will fall off a cliff any time now.

    A 10 to 15 year time span is a equivalent to a gentle downwards slope not a cliff. Property markets are illiquid so any correction will take time to wash through.
  • Sibley
    Sibley Posts: 1,557 Forumite
    Ninth Anniversary Combo Breaker
    edited 5 August 2010 at 12:15PM
    I had my investment house valued in 2007 at £190,000.
    There is no way on earth I would take 1 pence under that. I want 190k to spend. Not 180k or 170k.

    Prices wont go down but if they were to dip then I'd know to hold on until they went back up. Next two years is a bad time to sell so best leave it rented out. No sweat whatever.

    I wouldn't let my house go cheap. To be honest it will probably be selling for around £225,00 by the time I want to sell it in 5 years time.

    Happy dayzzzz

    Update........

    Sorry. I forgot some 1's. :)
    We love Sarah O Grady
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Sibley wrote: »
    I wouldn't let my house go cheap. To be honest it will probably be selling for around £225,00 by the time I want to sell it in 5 years time.
    so you're expecting to see an average of 11.5% HPI per year since 2007 to 2015 for the property to be valued at £225k in 5 years.

    good luck with that - it's not going to happen
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sibley wrote: »

    I wouldn't let my house go cheap. To be honest it will probably be selling for around £225,00 by the time I want to sell it in 5 years time.

    Happy dayzzzz

    How do you work that out?
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    chucky wrote: »
    so you're expecting to see an average of 11.5% HPI per year since 2007 to 2015 for the property to be valued at £225k in 5 years.

    good luck with that - it's not going to happen

    Never thought i'd see the day i thanked one of chuckys posts
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    doire wrote: »
    How do you work that out?

    I suspect it was a mistype. Maybe a £125,000 instead. ;)
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