House prices are rising.

IveSeenTheLight

the.ciscokid wrote: »

Using your fruit market analogy though, there would be less people at the market looking to buy those 12 apples .

If I go to the supermarket for fruit and find there are only 12 apples left, I may decide to pas and wait for more stock to come in due to the quality available

the.ciscokid wrote: »

However I agree, if there is a lower number of houses on the market, then you might not be able to get the exact type of brick, or number of fireplaces you require.

It's not about the exact type of brick or the number of fireplaces, it's much more than that.

It's about location, local schooling, room sizes, garden size, whether the property is overlooked (privacy), how much refurbishment / modernising is required, room for expansion (in family members) etc etc etc

Certainly with a lower stock availability, it would be harder to have the oppertunity to get what your looking for

N1AK

Sibley wrote: »

I know the bears will dispute this fact but it's happening.

To paraphrase:

I can't tell the difference between anecdotal evidence and fact, and am sufficiently naive to think that stating, others will criticise my flawed argument, in advance will somehow weaken their case.

I'd feel bad about de-constructing your incredibly misguided posts if you even attempted to encourage debate with them, rather than blindly banging your keyboard with the intent to cover this forum in mediocre house price ramping drivel.

Batchy

If you take market stall issues...

If every day at 3 the market reduced prices... everyone would come to the market at 3 and buy reduce priced apples therefore no one would be buying apples in the morning. unless your not price sensitive, and happy to pay for good quality.

if the fruit stall owner, thinks I know, I will NOT reduce prices, then market returns to normality, ie apples sold over the course of the day. apples left over thrown away, the loss could be less than the effect of selling at reduced prices.

When there is price competition, then you get into a price war, and reduce price potentially to compete or differentiate.

I Think at the moment, most houses are differentiating!

Probate houses, and reposessions need WORK and a lot of it.

nice, regularly priced houses, not so much work, but still a hassle and cash outlay. As additional financing post purchase is difficult.

Very desirable houses that beat the market expectations, are pefect and ready to live in... nice homes.

The ones that arnt selling are the ones, that look in average condition but have a strong price, like the ones which differentiate, they need to re-align their expectations.

The problem sellers have is its a slow market.

Generally reducing the price by 5k does not mean the FTB who has to save a huge deposit now, can now afford to buy the house, as it only eases the deposit saving by £500 or £1k for a 10k drop based on a 10% deposit. IMO these are not deal breakers.

When they are having to save 15k, it does make a big impact that another month or two of saving cant do.

IMO. sellers should hold tight, and wait for the FTBs to save a deposit, or ... wait for banks to lax up the lending, to make it easier to get mortgages at 90%LTV, which should be an achieveable standard... at the moment, IMO, the min is about 85% realistically. which is why the market is so slow.

90% you have to be perfect credit rating, been in employment for a while, and debt free IMO.

abaxas

IveSeenTheLight wrote: »

I would agree, it is a buyers market, however at a restricted option.

To use a poor anology, it's like going to a fruit market at the end of the day and finding there are only a dozen apples to choose from instead of 100's

It's more like.

Going to the market at the end of the day only to find your are the first in, but have left your wallet at home.

CloudCuckooLand

Not more "round my way" rubbish.

Examples please.

Thailand

I love Thailand :j

Thank you!!

IveSeenTheLight

CloudCuckooLand wrote: »

Not more "round my way" rubbish.

Examples please.

Yep, not seen Dirk post them for a while

southantrim3

I wonder what will happen if the interest rates rise????

crocks

Its a "Unique" Market at the moment... Sellers are in no rush to sell and buyers are in no rush to buy... From what I can see, sellers are adopting a Patient "Wait and see" approach and are not in much of a hurry to reduce their prices. If a large amount of Sellers were suddenly in a mad rush to sell suddenly due to other financial problems, you will see a sudden drop in prices. Since the market is stable (neither rising dramatically or plummeting dramatically) you are seeing a drift in prices slightly up and down based on current conditions. We are selling our house, we are in no hurry and have had loads of buyers showing interest, most of them were taking the p*** on offers mind you because they think its a buyers market. It is only a buyers market if Sellers are desperate to sell. We know our house is priced reasonably in comparism to the area average and will wait around until the right buyer comes.

You are not even seeing loads of reposessions, which you did in the last "big" drop...

crocks

southantrim3 wrote: »

I wonder what will happen if the interest rates rise????

If Interest Rates rise then it depends by how much, bear in mind your average interest rate rise is small and only adds about £30-£40 a month to your average monthly payment.

We go by how big our monthly payment is, if we can survive on that then its fine. The panic sets in when people see "Big" interest rate rises and think its going to massively affect their mortgage payments, without doing the calculations first.

The danger is, the Panic (or a big rise) will trigger a mass of people wanting to sell quickly (or reposessions) and so as property availability increases, prices will plummet.