Everything is selling fast, within hours if priced right.

MrRee_2

ging84 wrote: »

I'm in Hampshire and i am not seeing anything like what your are describing
plenty of for sale board which do not become sold boards in a hurry, house opposite me was on the market for about 8 weeks before it sold

Of course, sadly, there are small pockets and areas (even in the most desireable of counties) where people wouldn't want to live.

But that has always been the case - even in the boom times you cannot sell in some areas.

MrRee_2

NinaSwiss wrote: »

I am looking to buy a house in London though in the zone 5/6 areas. The way I see it whatever will be... will be and I won't be pressured to go with a place I'm not completely happy with just because sales appear to be picking up (which EAs keep telling me at viewings).
If the properties become unaffordable then I can either buy outside London or buy a maisonette close to work. But at least I'm saving more money in the mean time whilst I wait for the right property.

What I have noticed though is estate agents bumping ads on previously sold properties. Eg a few days ago on zoopla (mobile), there were over 10 properties from the same EA marked as sold...but I recognized most of them(seen them on right move before on stc) so knew they sold over 2 months ago. Rather cheeky of them trying to fuel the public frenzy/fear.

It's true that EA's are playing silly games (but they always have).

The problem with holding tight and saving is, generally, if you save £750 a month then the property you could buy today has gone up £1,000 in that month. In the ares which have taken off.

I have bought in booms, in busts, in quiet times and with urgency ..... I have been around buying houses since the 1960's - I am rather experienced in watching the markets and applying what's happening to what happened in each of the previous 5 decades.

The House Price increase will, as it has always done, spread like throwing a pebble in the pond of London ..... spreading outwards in a ripple.

What's happening now in the South WILL happen in the North soon - and the midlands even sooner.

The best tip off I ever received was from a wise old man in the 1960's ..... and it holds true today .....

Buy the WORST property in the BEST road - never the BEST property in the WORST road.

Some are stuck in bad areas where houses aren't selling ... that's a shame ... but, houses where people have aspirations to live are certainly red hot and getting hotter.

Ivana_Tinkle

MrRee wrote: »

If I can help and advise anyone for whom the bubble has not yet reached, then I will. I wish I had been warned of this bubble 3 months before it hit where I want to buy!

Whoa! You think it's a bubble, but you're urging everyone to buy? I don't think the word "bubble" means what you think it means.

MrRee_2

I'm using the term 'Bubble' as it is the term being banded about at the moment ......... I know exactly what it means, but - in this context, on here, it is a perfectly acceptable term for 'House Price Rises'

makeyourdaddyproud

Yes, and metaphorical similarites aside, 've finally placed the last tile on my domino tower.

MisterMotivated

MrRee wrote: »

I have bought in booms, in busts, in quiet times and with urgency ..... I have been around buying houses since the 1960's - I am rather experienced in watching the markets and applying what's happening to what happened in each of the previous 5 decades.

And yet, you failed to foresee the current situation you are describing and act quickly enough yourself.

Regarding your point about trying to help people on here by urging them to buy before prices increase, this really is just stoking the fire. For example, there will already be people who don't visit this site, who are looking to buy in the next few months. Assuming anyone on here takes your advice and rushes out to make an offer on a property tomorrow, it's simply reducing future supply for the others who are - like you - taking their time to mull things over, ultimately pushing up prices for those potential buyers.

It's almost inevitable that house prices will rise at some point. Why anyone would want to do anything to hasten that increase (unless they have a property to dispose of) is beyond me.

Given that you (assuming information provided in your previous posts is true) are planning to buy a holiday home and deprive someone else of an actual 'home', then I'm pleased you lost out on buying the houses you mentioned.

Odette

I saw its effects I think buying in south Herts; houses that i was looking out at the beginning of the year within our spec were 190k+ and now they are more like 220k+. I believe its the government scheme (is it 'help to buy?') that's making this bubble so strong and its going to get worse in the short term until the Government really put some effort into building some new houses. If not then house prices will continue to rise with demand unless they work in some new laws to protect renters.
Personally, I feel this might be the thin end of the wedge prices wise, bring on completion and then I can relax!

makeyourdaddyproud

MisterMotivated wrote: »

And yet, you failed to foresee the current situation you are describing and act quickly enough yourself.

Regarding your point about trying to help people on here by urging them to buy before prices increase, this really is just stoking the fire. For example, there will already be people who don't visit this site, who are looking to buy in the next few months. Assuming anyone on here takes your advice and rushes out to make an offer on a property tomorrow, it's simply reducing future supply for the others who are - like you - taking their time to mull things over, ultimately pushing up prices for those potential buyers.

It's almost inevitable that house prices will rise at some point. Why anyone would want to do anything to hasten that increase (unless they have a property to dispose of) is beyond me.

Given that you (assuming information provided in your previous posts is true) are planning to buy a holiday home and deprive someone else of an actual 'home', then I'm pleased you lost out on buying the houses you mentioned.

It's not up to you to decide what people want to buy or whether advice should be given to someone who in your opinion seems "not worthy" of a successful purchase on a second home. If he has the money why can't he buy? After all, he is the one that stands to lose if the housing bubble bursts.

You could look at it from the reverse side of the coin: people unable to buy before the bubble have the most to gain when prices slump and they are buying at the bottom of the market.

If it bothers you sooooo much, sell your house to someone needy.

It's simply tough luck if you cannot afford to buy at the moment. Big problem with that? Then go improve on your evening Scrabble with your captive parents.

bitsandpieces

I would bet that this type of rapid price increase/bubble will stay in very limited parts of the country (rises as fast as you suggest may just about be sustainable in some areas of London with lots of money flowing in from abroad, though even there it seems pretty speculative and the medium-term is a concern, but with wages falling in real terms it's hard to see how this could be sustainable in many other parts of the UK). If it does hit this part of the UK, I'll rent a bit longer - buying into a bubble that's inflating rapidly isn't generally a good strategy and idiotic schemes like 'help to buy' won't last forever.

Smi1er

melanzana wrote: »

Look at Ireland and the insolvency and mortgage arrears crisis there as a result of bubble frenzy.

Ireland was completely different. Their entire economy was built on house prices.