Will UK property prices weather a new recession? Apparently not.

dawyldthing

theres an awful lot of repossessions, well there is around this way anyway, which seems to be lowering the prices for the people who are buying

Pimperne1

dawyldthing wrote: »

theres an awful lot of repossessions, well there is around this way anyway, which seems to be lowering the prices for the people who are buying

Where's "round your way"? Are they identifiable on Rightmove (or where are you seeing them?).

brit1234

reweird wrote: »

Property prices will hold up fine Mr Geneer. I certainly won't be selling you one of my BTLs on the cheap to you. But keep renting and paying my mortgages for me.

Lots of us are on cheap rent anyway and our landlords aren't buy to let landlords. Infact I will take pleasure in buying a repossed buy to let house.

the_flying_pig

Rinoa wrote: »

...I'll let you into a secret Graham, we bulls only cheer on the express because it's amusing to witness your reaction.

yeah right.

i bet most of you have at least one of those little books of 'Giles' cartoons that the DE used to print in the eighties /I][I]roughl[/I][I]y the last time that an[/I][I]yone with an wo[/I][I]rking[/I][I] blood suppl[/I][I]y of ox[/I][I]ygen to thei[/I][I]r[/I][I] b[/I][I]rain[/I][I]actuall[/I][I]y[/I][I] bought the pape[/I][I]r[/I][I under your coffee tables, no doubt right next to a well-thumbed copy of a 'four walls to a fortune' type scam investment bible aimed at uneducated and/or gullible boomers.

[apologies for the italics and typos BTW, computer massively on the blink]

Jack_Johnson_the_acorn

Graham_Devon wrote: »

What difference does that really make?

Say a seller wants 100k. But the house is valued at 70k. The buyer won't get a mortgage because the asking price is too high.

House value is still 70k, regardless of whether it sells or not.

Therefore those who need to sell, will sell for lower prices, and house prices will fall. Sellers not selling doesn't really make any difference. Reduces supply, sure, but causes more problems in the long run.

That might be its value but you can't force someone to sell at a lower price, if they don't have to move they won't, no matter what you say the value is.... prices are only gonna drop when rents drop....

Thrugelmir

Jack_Johnson_the_acorn wrote: »

That might be its value but you can't force someone to sell at a lower price,

Majority of property will change hands at some point. Time catches up with us all.

May take a generation.....

Cleaver

brit1234 wrote: »

Infact I will take pleasure in buying a repossed buy to let house.

I can't see you ever buying a house Brit. It's like me with Les Paul guitars: I've spent years now thinking about them, looking at them, considering them, looking for cheap ones... and I can never convince myself to do it. I think you're the same with houses.

Jack_Johnson_the_acorn

Thrugelmir wrote: »

Majority of property will change hands at some point. Time catches up with us all.

May take a generation.....

There will need to be a lot of forced sales (redundancies, interest rate increases,) there isn't an abundance of property available in fact there is an obvious shortage of decent houses, this will continue the trend of expensive rents which in turn increases house prices.

brit1234

Cleaver wrote: »

I can't see you ever buying a house Brit. It's like me with Les Paul guitars: I've spent years now thinking about them, looking at them, considering them, looking for cheap ones... and I can never convince myself to do it. I think you're the same with houses.

But can you see your guitar falling in price each month whilst your money savings increase?

I would my expensive guitar in the sale which I know is coming.

Cleaver

brit1234 wrote: »

But can you see your guitar falling in price each month whilst your money savings increase?

I would my expensive guitar in the sale which I know is coming.

I could afford the guitar tomorrow. I've just invested too much time over the years thinking and planning. So I don't think I ever will. In fact, I think I prefer the thinking and planning than the actual owning, hence I don't buy one - it's not really a money thing. I think this is the same as you and houses.