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MSE News: Halifax: house prices dive in record plunge

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Comments

  • tyllwyd
    tyllwyd Posts: 5,496 Forumite
    Originally Posted by mavala25 viewpost.gif
    Im in the process of buying a house, havent got to the exchange part yet (formal mortgage offer agreed and everything), any one offer me some advice given todays news on the 3.6 fall in price? should I look to negotiate the whole 3.6 off. any advice appreaciated!!!

    I'm not quite sure about the logic anyway - that 3.6 drop isn't a future drop, it's one that happened already. So whatever price you negotiated, it was against the backdrop of that price movement (or rather the movement in prices for a house of that type in your local area) - so in that way, it is already taken into account.
  • MobileSaver
    MobileSaver Posts: 4,311 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    mavala25 wrote: »
    I was thinking something along thos lines, i dont want to take the !!!! but I do want to pay what the house is worth now.

    Just to be sure about this, if you haven't exchanged by the end of the month and the next set of Halifax figures show a 0.5% rise then you will of course increase your offer by 0.5%?
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    Update after 27 hours:
    Trollfever wrote: »
    [STRIKE]211[/STRIKE] 735 comments and [STRIKE]11,900 [/STRIKE]71,644 views here:

    http://www.housepricecrash.co.uk/forum/index.php?showtopic=152347

    (In [STRIKE]three[/STRIKE] twenty seven hours!)
  • MobileSaver
    MobileSaver Posts: 4,311 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pjcox2005 wrote: »
    People can hold out for a while on a price drop, but for most life eventually has to go on whether that is expanding a family, changing location/job , kids leaving home or sadly divorce and death

    I don't dispute that some people will be in this situation but I believe most people simply choose to move home and they can just as easily choose not to if the market isn't attractive.
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • tawse57
    tawse57 Posts: 551 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Daily Mail Story today - houses losing £200 per day.

    Moneyweek has just landed on my mat - big article in there about the UK housing bubble.

    Just been reading something called Arabian Money with a long article in there warning Arabian investors to stay away from UK property because it is a bubble that is about to burst.
    This is not financial nor legal nor property advice. Consult a paid professional if in doubt.
  • Eric1
    Eric1 Posts: 490 Forumite
    I don't dispute that some people will be in this situation but I believe most people simply choose to move home and they can just as easily choose not to if the market isn't attractive.
    Well, this equally applies to buyers as well. If the market is not attractive, most of them will simply choose to continue renting.
    Besides, death, divorce or debt doesn't force anyone to buy, but may force some to sell.
  • tyllwyd
    tyllwyd Posts: 5,496 Forumite
    tawse57 wrote: »
    ... Just been reading something called Arabian Money with a long article in there warning Arabian investors to stay away from UK property because it is a bubble that is about to burst.

    Well, in my sleepy little Wiltshire market town, I don't see a huge number of Arabian investors queuing up to buy three-bed semis. Wasn't it talking more about the top end of the London market?
  • tawse57
    tawse57 Posts: 551 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 8 October 2010 at 10:27AM
    Oops... Oops... Oops...
    This is not financial nor legal nor property advice. Consult a paid professional if in doubt.
  • tyllwyd
    tyllwyd Posts: 5,496 Forumite
    Sorry, I think you misread what I said?
  • tawse57
    tawse57 Posts: 551 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    tyllwyd wrote: »
    Sorry, I think you misread what I said?


    Yes I did. I apologise - I confused 'don't' with, 'am' for some reason.

    I am so used to reading property ramping posts on here that my eyes are glazing over and I am reading every post as if it is a 'house prices always rise, endless demand' kind of thing.

    Again, I apologise for the friendly fire.

    :o:o:o
    This is not financial nor legal nor property advice. Consult a paid professional if in doubt.
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