Rightmove offer advice to sellers to avoid being one of the 50% who fail to sell.

doire_2

Blacklight wrote: »

My advice would be to wait until banks start lending again.

Can you expand on that? Or is it just wishful thinking?

Blacklight

doire wrote: »

Can you expand on that? Or is it just wishful thinking?

Yes of course. Sellers aren't willing to lower prices and hand their property over at massively reduced price because they can't.

We know that there are 120% more people out there that want to buy over and above those who were allowed to by the banks.

Ergo, wait until the banks start lending again.

Turnbull2000

geneer wrote: »

Best of luck with that.

Of course, in the unlikely event that this does happen this would be good news for any bears who decide to buy following the crash.
Wouldn't it?

Buy following the crash? What crash? A sharp price shock following the credit crunch, but intervention soon ensure priced rebounded strongly, particularly in London and SE.

You're really clinging on if you believe this is all "good news" for the bears. Firstly, they'll need a massive deposit until the mortgage taps open. Secondly, they'll likely be paying near peak or above prices. Thirdly, they'll have wasted between 5-10 years waiting for something that didn't happen.

geneer wrote: »

Actually, in reality rents have not changed for 3 years.

You're right though it is money for nothing.
If you don't count the global financial collapse and the massive economic and social costs apparent now and yet to happen.

In any event, that "money for nothing" will remain avaliable for those who chose to buy after the crash.

Like prices, rents experienced a short shock following the credit crunch. This is evident in the chart you yourself posted. But since then, rents have been climbing strongly with only small seasonal falls during winter. Much like house prices.

Percy1983

Blacklight wrote: »

My advice would be to wait until banks start lending again.

Last time I checked they seem willing enough to lend to financially stable applicants

Graham_Devon

Turnbull2000 wrote: »

Or let it out and let rising rents cover the mortgage. An increasing number of mortgages are on below inflation rates, so it makes sense to hold onto such a asset in light of rapidly diminishing supply (against population growth). We're looking at massive expansion of 'accidental' landlords IMO, with letting out first or second properties becoming somewhat normal. And interest rates remaining ultra low for the rest of the decade should provide decent capital gains too.

Hopefully many more will.

As it's everything you said above that will destroy the BTL market in the short term.

Just hope these amatuer landlords don't have kids involved when they are laden with 2 mortgages and one income.

nearlynew

Turnbull, do you still live with your sister as her lodger?

Blacklight

Graham_Devon wrote: »

Hopefully many more will.

As it's everything you said above that will destroy the BTL market in the short term.

Just hope these amatuer landlords don't have kids involved when they are laden with 2 mortgages and one income.

Nobody will be renting at that point because?

Turnbull2000

nearlynew wrote: »

Turnbull, do you still live with your sister as her lodger?

Umm, what?

nearlynew

Turnbull2000 wrote: »

Umm, what?

Umm, do you still live with your sister as her lodger?

Turnbull2000

nearlynew wrote: »

Umm, do you still live with your sister as her lodger?

I've never lived with my sister and have no idea what you're talking about.