Sellers refuse to budge........

Sibley

I've said right from the start. If a seller doesn't put his house on the market then the price has not dropped 1 pence.
Homeowners refused to let prices crash and now they will rise.

All this rubbish talk about prices crashing. Where exactly?
I don't want to live in Burnley or NI.

I live in the SE. Where are the bargains?

Answer. None.




http://www.dailymail.co.uk/news/article-2070074/House-prices-Despite-economic-turmoil-believe-value-homes-fall.html

Safe as houses? Despite the economic turmoil most of us believe the value of our homes will not fall






Two-thirds of Britons refuse to believe house prices will drop next year, despite a raft of gloomy predictions from forecasters.
Some 22 per cent expect a price rise in the next 12 months, while 41 per cent believe there will be no change.
Just one third of the population have been convinced by the gloomy rhetoric and are expecting a fall, according to market analysts at Rightmove.

Estate agents signs in Lambeth. The latest market research shows two in three Britons refuse to believe house prices will fall in the next year

Rightmove director Miles Shipside said: ‘The public’s belief in the value of bricks and mortar seems to defy the deteriorating economic situation.
‘This is a clear message that the majority of consumers view the property asset class to be as “safe as houses”.’
However the average figures produced by the survey reveal significant regional differences, with those in London most likely to expect price rises and the Welsh more likely to expect a fall.
‘This is a clear message that the majority of consumers view the property asset class to be as “safe as houses”’

Miles Shipside, Rightmove director

Some 28.7 per cent in London expect price rises in 2012
The capital has been insulated against falls in other regions because of the influx of wealthy foreigners, particularly from Russia, the Middle East, the Far East and India.
While City workers continue to enjoy big bonuses, which continues to prop up house prices in wealthy areas of London.

The capital has been insulated because of the influx of wealthy foreigners and continuing big bonuses for City workers.
Some 34.5 per cent of those in Wales expect falls, along with 34 per cent in the North West, 32.8 per cent in the South West, 31.9 per cent in the North East and 31.8 per cent in Scotland.
Mr Shipside said: ‘Although the majority view is the UK housing market will avoid price falls in 2012, local variations highlight how patchy confidence can be.

Many believe a dip like that seen in 2007 will not happen again next year



Recent figures have suggested house prices will rise in most areas next year

‘The wealthier middle-to-upper price brackets may be feeling fairly blast-proof from any further economic eruptions, and see a less turbulent outlook.

‘Meanwhile some of the more cash-strapped terrace and semi dwellers may feel far more exposed to the negative pressures of reduced mortgage availability and job uncertainty.’

He added: ‘It should be remembered that in spite of the overall confidence expressed in this survey for property prices, transactions volumes are still well down on historic norms.

‘Economic stability in the UK and Eurozone will be needed before many are willing or able to re-engage with the property market.’

abaxas

They are not sellers, they are 'stick the house on the market and hope'ers.

I can put my car up on auto trader for £3,600,000 that does not mean anyone will buy it.

martinthebandit

Daily Mail says 'some people are idiots' shock, horror
:eek:

Aberdeenangarse

Poor old Dribley, still clutching at straws!

...........but wait, what's that I see in the comments section?

Yes, they're certainly dropping like a stone here. I reckon my properties value has gone down over 10% this past year, in the so called 'rich' South East. Hold onto your hats, it's going to be a bumpy ride!
- Sibley, Maidstone, 5/12/2011 9:26

:rotfl:

doire_2

Home owners say prices wont drop. Well i never :rotfl:

shortchanged_2

The longer banks keep strict lending criteria the sooner people will realise that they are never likely to be able to afford stupid house prices as they are and sellers will have no option but to drop their prices or their 'assets' will never sell.

MacMickster

I really don't understand the obsession with house prices. For most current homeowners the value of their homes are irrelevant, as they will continue living in them.

House prices should only be of interest to those who are either looking to buy, or who may be forced to sell. There is a growing gap between the expectations of these 2 groups of people.

I suspect that the OP's obvious obsession with the subject suggests that he/she is concerned about being forced to sell in the future (perhaps if interest rates begin to rise sharply). Some on these boards consider that there is no possibility of imminent interest rate rises, whatever happens in the Eurozone. Unfortunately, from his recent statement, Mervyn King disagrees.

paulmapp8306

So, the general public refuse to believe house prices will fall ?? many many years ago the general public refused to believe the earth was flat, that flight was impossible and more recently that Labour was a good idea

What the general public BLIEVES has nothing to do with WHAT WILL HAPPEN. I have vissions of most of the UK with fingers in their ears going "blah blah blah blah".

Not saying prices WILL drop, or even that they WONT rise - just that what the general public BELIEVE means absolutely nothing.

pararct

shortchanged wrote: »

The longer banks keep strict lending criteria the sooner people will realise that they are never likely to be able to afford stupid house prices as they are and sellers will have no option but to drop their prices or their 'assets' will never sell.

Peston's BBC show last Sunday 'How the West Went Bust' did a very good job of explaining why the banks are much more careful now who they lend too.

Of course they will still lend to sound borrowers (with proven ability to pay them back and a reasonable deposit) but their due diligence today and in light of the 2008 meltdown means that is somewhat more than them checking the applicant for a pulse.

This situation will not be changing any time soon either, certainly not in our lifetimes.

So if you are in the bracket of complaining the bank will not lend to you, it will be either they do not consider you a reasonable risk, have an insufficient deposit or the property you are looking to buy is not worth the value they place upon it (agreed between seller and buyer).

Peston's show is still on the I Player if anyone is interested...

paulmapp8306

also, got to agree with MacMickster. The actual value of a house means NOTHING unless you want to buy or sell. Once you have a greed a price to buy a house, and put the finances you can afford in place, thats it. You continue to pay that price, and live int he house.
# 8

the only other reason is if you are looking at houses as an investment. If you are then you deserve everything you get. Houses are to live in - its their purpose - their reason for being. Turning them into an investment vehicle is just one reason why peopl who NEED to live in them cant now do so.

Batchy

I couldnt care less if my property went down 30k especially if the one i was moving too went down by 60k... happy days!

dont be so blinkered... it can happen, but everyones a winner, people without a home get a nice home to call their own, potentially, people with a home get a bigger or better or just more expensive home, and the ones at the top have cash to spend, ... everyone's a winner...