Everything is selling fast, within hours if priced right.

Smi1er

There is no housing bubble, this is a media term.

Recently reported that house prices have increased by 3.5% in a year.... Now ask yourself what the real inflation rate is? 5%? This means that in real terms prices are slightly falling.

A lot of people still aren't selling so any good stock coming to market sells quick.

SG27

I've seen a couple if things sell fairly quick since I bought in essex in February but overall I'd say its pretty much the same. Maybe very slightly less of a buyers market but most things are still sitting around for months until reduced.

brit1234

Smi1er wrote: »

There is no housing bubble, this is a media term.:rotfl:

Recently reported that house prices have increased by 3.5% in a year.... Now ask yourself what the real inflation rate is? 5%? This means that in real terms prices are slightly falling.:cool:

A lot of people still aren't selling so any good stock coming to market sells quick.

Yes there is a bubble and it is the same bubble of well over a decade. Before 2007 prices bubbled because of mass fraud, low interest rates and irresponsible lending. Now we have even lower interest rates, a return to irresponsible lending (help to buy) and now those fraudulent property companies seem to be making a return spamming our email accounts yet again.

Prices use to be 3-4 times average salary, now they are 6 times and rising. House prices aren't falling because of inflation as wages are not rising.

As for bubbles being a media term, that's boulder dash as it is an economic term.

moneyistooshorttomention

I'm in one of the medium-speed bits of the housing market here and I have the suspicion that in my area we are developing a two-speed housing market at present. What the heck?!

It feels a bit to me like MY price range of houses (ie £250,000-£300,000 and too dear for me to afford on the income I actually have then) are going up in price slightly. Analogy being MY price level is "Marks and Spencers" and what I can actually afford is "Primark" iyswim.:cool:

On the other hand....houses in the price range I actually have currently here (ie a "Primark" one) feel like they are starting to go down very slightly.

I will be monitoring both price ranges here over next few months (after I've duly completed my move to new area) and see if I am correct on that one. I can think of explanations for both factors happening at once in this particular area.

Time will tell...

Mickygg

Brit I'm confused. Looking at your notes you have for September house prices fell?? Is this a forecast as prices have been steadily rising over last 6 months or so?

Oh just realised its probably for last year.

MrRee_2

MisterMotivated wrote: »

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.

OH, dear ... the green eyed monster arises!

The Holiday Home I seek is a Bungalow overlooking the sea .... I've got news for you, these properties are bought as second homes and retirement homes. They are not, repeat not, homes for families and FTB's - they buy inland where houses are 33% cheaper!

So, if I am depriving someone else by buying, that person is a baby boomer downsizing or a holiday home buyer!! I'm sure, by your post, you would not mind one bit if either of those two classes fell on their collective noses?

So, your stress and anxiety is just doing you harm for nothing.

Yes, I did miss the upturn .... it caught me by surprise last winter (I don't generally go to my selected holiday area over the winter months, I should have, but didn't) - and I just don't want anyone else to get caught out saving.

MrRee_2

Smi1er wrote: »

A lot of people still aren't selling so any good stock coming to market sells quick.

That was the case here ..... but now even the dross is selling!

Property which has been unloved on the market for ages have all sold .... not dropped their asking prices either.

House Price inflation here in North Hampshire is, without doubt, running MUCH higher than 3% annualised.

It's just ridiculous - but it's happening.

princessdon

MrRee wrote: »

OH, dear ... the green eyed monster arises!

The Holiday Home I seek is a Bungalow overlooking the sea .... I've got news for you, these properties are bought as second homes and retirement homes. They are not, repeat not, homes for families and FTB's - they buy inland where houses are 33% cheaper!

So, if I am depriving someone else by buying, that person is a baby boomer downsizing or a holiday home buyer!! I'm sure, by your post, you would not mind one bit if either of those two classes fell on their collective noses?

So, your stress and anxiety is just doing you harm for nothing.

Yes, I did miss the upturn .... it caught me by surprise last winter (I don't generally go to my selected holiday area over the winter months, I should have, but didn't) - and I just don't want anyone else to get caught out saving.

I live on the east coast and its all families, but we are close the nearest city (10 miles) with good links.

Prices here are rising and the dreggs are still sitting but good decent prices properties are going very quickly. Over the road went before the board was even up and estate agents don't need to take photos, they have so many ready and waiting buyers.

pops5588

MrRee wrote: »

OH, dear ... the green eyed monster arises!

The Holiday Home I seek is a Bungalow overlooking the sea .... I've got news for you, these properties are bought as second homes and retirement homes. They are not, repeat not, homes for families and FTB's - they buy inland where houses are 33% cheaper!

So, if I am depriving someone else by buying, that person is a baby boomer downsizing or a holiday home buyer!! I'm sure, by your post, you would not mind one bit if either of those two classes fell on their collective noses?

So, your stress and anxiety is just doing you harm for nothing.

Yes, I did miss the upturn .... it caught me by surprise last winter (I don't generally go to my selected holiday area over the winter months, I should have, but didn't) - and I just don't want anyone else to get caught out saving.

Ok....I won't pretend to know much purely because I don't. Having recently just got on the property ladder in Hampshire I was surprised at your OP because it didn't ring true to me. Yes we bought above the national average for a first time home, and we are well below the age of the average of FTBs, but surely the market you are looking at is completely different to the one that we were!! You're looking for a holiday home?! Everyone knows that this is almost a completely different market! My grandparents tried buying a holiday home in Bournemouth (one of those little beach huts) but kept missing out. They haven't needed a mortgage for years, are very well off in their "old age" and the would never encourage some kind of public hysteria about the Hampshire housing bubble because of this

spirit

Erm "small pockets and areas where people wouldn't want to live"?

what about Basingsoke, Gosport, Southampton, Portsmouth Eastleigh/chandlers Ford - all hampshire towns as you know.

and "even the dross is selling without dropping prices" this one for example http://www.rightmove.co.uk/property-for-sale/property-40059133.html?premiumA=true is what I would call dross (being from Winchester) has been for sale for months and months. Even the professional landlords seem to have given it the thumbs down ( it is near Winchester Uni)


This one has been on the market for years and has used pretty much all the estate agents in town to no avail. It is dross because of how it is situated in the close (I have seen it from the outside) lovely village, crap house http://www.rightmove.co.uk/property-for-sale/property-39907573.html