House prices....

tara747

Old_Git wrote: »

I had a house near Queens university valued in 2009 and again last week .
2009 value £150,000 - £155,000 .I didnt like the EA .
last week valuation same EA £120,000 -£130,000 .
They said houses are selling and parents are buying for their children .
I went to another EA who advised not to sell and valued it at £160,000 -£170,000 but said there are no buyers.

!!!! :rotfl::rotfl:

doire_2

Old_Git wrote: »

I had a house near Queens university valued in 2009 and again last week .
2009 value £150,000 - £155,000 .I didnt like the EA .
last week valuation same EA £120,000 -£130,000 .
They said houses are selling and parents are buying for their children .
I went to another EA who advised not to sell and valued it at £160,000 -£170,000 but said there are no buyers.

No wonder the clown has no buyers!

FUNKYDADDIO

I know prices are poor at the minute but I am loking to move this year. My logic is that i am upsizing and the price i get a bigger house for will be less proportionally than the loss I may take on my own house...if that makes sense...i.e a 250k house now may go up to 300k when (if) the market picks up but if i sell mine for, say 150k, it may only go up to 175k if that market picks up...does that make sense?

x12yhp

FUNKYDADDIO wrote: »

I know prices are poor at the minute but I am loking to move this year. My logic is that i am upsizing and the price i get a bigger house for will be less proportionally than the loss I may take on my own house...if that makes sense...i.e a 250k house now may go up to 300k when (if) the market picks up but if i sell mine for, say 150k, it may only go up to 175k if that market picks up...does that make sense?

That is the wisdom which eludes the masses.

thor

FUNKYDADDIO wrote: »

I know prices are poor at the minute but I am loking to move this year. My logic is that i am upsizing and the price i get a bigger house for will be less proportionally than the loss I may take on my own house...if that makes sense...i.e a 250k house now may go up to 300k when (if) the market picks up but if i sell mine for, say 150k, it may only go up to 175k if that market picks up...does that make sense?

yes it does BUT as you have already acknowledged there is no reason at all for prices to go up even in the long term. I don't subscribe to the theroy that the population of this country will rise forever and the housing supply will struggle to match.

ginger_nuts

FUNKYDADDIO wrote: »

I know prices are poor at the minute but I am loking to move this year. My logic is that i am upsizing and the price i get a bigger house for will be less proportionally than the loss I may take on my own house...if that makes sense...i.e a 250k house now may go up to 300k when (if) the market picks up but if i sell mine for, say 150k, it may only go up to 175k if that market picks up...does that make sense?

I was looking at buying a bigger house ,I have no other debts but my mortgage is 0.18% above the BOE rate .I would never get as good a rate again .So i am stuck

FUNKYDADDIO

thor wrote: »

yes it does BUT as you have already acknowledged there is no reason at all for prices to go up even in the long term. I don't subscribe to the theroy that the population of this country will rise forever and the housing supply will struggle to match.

But surely with house building almost completely stalled in the current climate and the population continues to grow, as it will, then saturation will inevitably follow?

motorguy

thor wrote: »

yes it does BUT as you have already acknowledged there is no reason at all for prices to go up even in the long term. I don't subscribe to the theroy that the population of this country will rise forever and the housing supply will struggle to match.

We're effectively still in a recession though. As we totally exit that, consumer confidence will start to return, leading to more spending, etc, etc.

motorguy

Not aiming this at anyone in particular, but its been amusing over the recent years watching the 'armchair experts' on here talk the housing market 'up' because they have a vested interest in doing so, and now we have a new batch of 'armchair experts' talking the market down as it is in their interest to believe that.

tara747

FUNKYDADDIO wrote: »

But surely with house building almost completely stalled in the current climate and the population continues to grow, as it will, then saturation will inevitably follow?

We have a huge oversupply of property atm though. That will take years to even out.