Asking prices fall 1.1%

ukcarper

des_cartes wrote: »

No different than price surveys for anything else really. Why would you rush out and buy tins of beans today when the surveys reported special offers starting next week?

Because you’re hungry

des_cartes

ukcarper wrote: »

Because you’re hungry

But the sensible hungry ones would eat something else until beans become cheaper.:cool:

1984ReturnsForReal_2

des_cartes wrote: »

But the sensible hungry ones would eat something else until beans become cheaper.:cool:

that seems logical doesn't it.


but it is not.



A house is a house unless you chose to live in a tent, caravan, car, boat or hotel............


Its not like choosing beans over spaghetti hoops......

Batchy

des_cartes wrote: »

These are my target prices:

2 bed terrace = £80k
3Bed Semi = £100k
4 Bed detatched = £140k

Averages for the UK of course, some areas more some less but overall the average house price for the UK of around 100k is when I will buy again. These numbers represen a 1% fall each month for 3 years which is happening now. Obviously if inflation takes off then I will revise the numbers but as long as wage inflation stays low then these are the prices I will be guided by.

When I was thinking of buying many years ago, these were the actual prices, then they continued to increase at amazing rates 10%+, my wages went up, significantly from 12k at that time up to over 40k now... i decided to buy anyway.

Wages are not going up in the public sector, but in the private sector they are... al be it slowly and the private sector is increasing in size, and public sector decreasing. thats the tory lib dem way...

House sales have halved at least from the highs we saw over the last 5 years... confidence will return, one day and stop the falls, then madness will return. The reason its obvious madness will return is simple, people get greedy, everyone would prefer to own a house rather than not, just because of the terrible laws in the UK rental markets and lack of rights. Your made to feel like a substandard citizen. its easy to leverage yourself in a property as you will always need somewhere to live anyway!

Problem is, those most likely to get mortgages are the ones with houses already that have kept up repayments on them as necessary, or FTB's with great big whoping deposits and good salarys and perfect credit ratings history.

Only this weekend I saw another property which was brought by the vendors in early 2008 for 213k and is now being marketed by the bank as a repossessed 145k, I viewed it when it was on at 179k (thinking of offering 165K) with the vendors trying to sell. It did come down to 160k in the end but still couldnt sell, well it was SSTC at one point but obviously they just couldnt make it happen. The divorced couple it belonged to just give up I pressume. As if they couldnt sell for 160k it wasnt worth it anyway... negative equity etc, etc, etc.

Times are hard, but the main thing im seeing at the moment is repossessions are going as cheap as they were two years ago, when things looked deperate, people are seeing it as the standard now.

I always expected over 30% falls from peaks, that what i brought at in my estimatiion, and i dont think it will get much worse.

We are in the UK... people WANT to own a house, the pent up demand will only have the reverse effect when things improve, and it will be again just as hard for buyers to buy. Because prices will increase ...and basically should increase inline with inflation and no more, currently 3-4%. IMO.

tawse57

This ties in with all those estate agents in The Sunday Times yesterday saying that asking prices needed to come down by 20% to get buyers.

Looks like a lot of EAs will go bust this year if they cannot get the sellers to reduce their asking price.

ukcarper

des_cartes wrote: »

But the sensible hungry ones would eat something else until beans become cheaper.:cool:

But what if beans were cheaper than alternatives without price reduction

dopester

Batchy wrote: »

Only this weekend I saw another property which was brought by the vendors in early 2008 for 213k and is now being marketed by the bank as a repossessed 145k, I viewed it when it was on at 179k (thinking of offering 165K) with the vendors trying to sell. It did come down to 160k in the end but still couldnt sell, well it was SSTC at one point but obviously they just couldnt make it happen. The divorced couple it belonged to just give up I pressume. As if they couldnt sell for 160k it wasnt worth it anyway... negative equity etc, etc, etc.

Times are hard, but the main thing im seeing at the moment is repossessions are going as cheap as they were two years ago, when things looked deperate, people are seeing it as the standard now.

I always expected over 30% falls from peaks, that what i brought at in my estimatiion, and i dont think it will get much worse.

We are in the UK... people WANT to own a house, the pent up demand will only have the reverse effect when things improve, and it will be again just as hard for buyers to buy. Because prices will increase ...and basically should increase inline with inflation and no more, currently 3-4%. IMO.

People want to own a house, but not at silly money in any location. Not in declining town, benefit-central, hoodlum central (well maybe parts of London), Gizajob zone.

There are so many negatives set to kick in over the next 12-24 months. They'll be practically giving away houses in some areas imo.

When/if prices in more desirable areas come under the same sort of pressure you've outlined has been taking place in your area of interest... say with more people lowering asking prices, upto 20%, or further pressures on prices, then I think we'll see some bloodbath falls in value in your "current" bargain areas.

Batchy wrote: »

So many repossessions/ distressed sellers round my way, its hard not to bag a bargain!

julieq

des_cartes wrote: »

These are my target prices:

2 bed terrace = £80k
3Bed Semi = £100k
4 Bed detatched = £140k

Averages for the UK of course, some areas more some less but overall the average house price for the UK of around 100k is when I will buy again. These numbers represen a 1% fall each month for 3 years which is happening now. Obviously if inflation takes off then I will revise the numbers but as long as wage inflation stays low then these are the prices I will be guided by.

Total NUTTER innit :rotfl:

FTBFun

des_cartes wrote: »

But the sensible hungry ones would eat something else until beans become cheaper.:cool:

Can you construct a home out of discarded tins of beans? That's proper old school money saving that.

neverdespairgirl

des_cartes wrote: »

No different than price surveys for anything else really. Why would you rush out and buy tins of beans today when the surveys reported special offers starting next week?

Because there's no active rental market for beans?