Check out how much house prices are dropping in your area ;)

CB1979_2

nelly wrote: »

The lad who made it posts on ghpc I think he explained how it works I couldnt be bothered reading it cos I'm like that

and there was me, expecting it to be created by someone unbiased! lol

Bargain_Rzl

Hmmm, very interesting! My postcode area (London SE5) has 112 properties listed, of which several are duplicates listed with multiple agents. The biggest drop is 10%.

Last on the list is a 12 bedroom detached property (development opportunity methinks) which is listing a massive reduction from £1,500,000 to £1,499,995 :rotfl:

http://www.propertysnake.co.uk/site/postcode/se5/16

nelly_2

CB1979 wrote: »

and there was me, expecting it to be created by someone unbiased! lol

haveing a bias is of no consequence now

Guy_Montag

CB1979 wrote: »

and there was me, expecting it to be created by someone unbiased! lol

Who is unbiased in this game?

nelly_2

Guy_Montag wrote: »

Who is unbiased in this game?

Me ................

scope

This hardly means prices are down though.. It means people are over pricing their houses in the first place..

olly300

Interesting.

In my area (London/Surrey border ) it seems a mixture of getting under the stamp duty bands i.e. under £250K, under £500K and one EA (which I know about anyway) over pricing by way too much. The rest of the EAs have no problems shifting properties of similar specs because they don't overprice so much i.e. if they sold a flat priced for £240K they then don't price the next one as £265k as this EA does.

The prices of houses over £550K are always advertised as guide prices anyway.

ukbondraider

nelly wrote: »

Ridiculously expensive houses and ever increasing stamp duty and ever increasing estate agents fees.

I just think its far better to have the essentials in life as cheap as possible so we can have more money to spend on the fun stuff.

Life is frighteningly short and I'd much rather spend the money I earn on seeing the world and experiencing things rather than wasted on a pile of bricks.

Oh and haircuts

Hmmm so you think houses should be cheap so that you can put the money towards going on luxury holidays and buying all the other things you want???

What a ridiculous statement.

I think people in this country have it too easy.

I dont know whether house prices will fall but if a 50% drop does occur, having missed the boat the first time round let me tell you that I will be definitely looking to acquire 20-30 places to rent out in such a situation. I wish I had leveraged my cash 5 yrs ago as oppose to focusing on being mortgage free on my 3 x £500K places which I currently have and have successfully managed to do.

I can guarantee that there will be many more people who will be trying to doing a similar thing. The only bottle neck in such a situation will be whether the banks will lend if the market tanks. In short if a drop does happen I can see it quickly shooting up again because of the perceived opportunity it creates.

And by the way, I rarely go on luxury holidays because I dont think I can afford it. I dont even own or have ever owned a new car nor a car worth more than £10K again because I dont think I can afford it. Maybe I am too tight but until I am comfortable that my siblings and parents are financially secure, I can not spend on the so called luxuries you state you deserve.

pickles110564

What a load of rubbish, just trying to scare people.
Anyone with half a clue will be able to work out why the properties in their area are down. It's not rocket science, not one of the houses showing in my area are where locals would buy any way. Most of them are with EA's that are known for giving stupid high prices just to get them on the books, only to go back to the seller three or four weeks later getting them to lower to realistic prices.

RabbitMad

meanmachine wrote: »

Any kind of national coverage would cause a real property crash.

I was going to say what a load of rubbish but then I realised that if the majority of people think house prices are falling and believe what rubbish they read in the papers they will not want to buy creating a crash.

I'm not quite sure what this website is showing - is it porperties that have had their asking price reduced? If so its fairly meaningless data on its own. It is what a property sells for that is important.

I recently put my property on the market for quite a bit more than I though it was worth to allow my purchasers to offer under and feel they've got a bargain. If I hadn't had any takers I would then have lowered the price for a quick sale (to what I felt it was worth) thus giving the buyer the feeling that they've got to act quick incase somebody else gets in there.

In the end it looks like the market in my area is moving up as I sold for just below the asking price.