We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House Market Stalling?
Comments
-
I'm looking for a house (South East but not near London). The houses are not moving. Several houses are in market for nearly a year (even after some reduction in price). Even some EAs said that market is stagnant. Lots of viewing, then few offers and finally buyers pulling out due to either failing to get a mortgage or because failed to sell their own properties.
If the following news is true (which is a good news) then I expect market to stall further.
http://www.dailymail.co.uk/news/article-2538917/A-mortgage-Only-cope-rate-rise-Potential-buyers-stress-tested-lenders-major-crackdown.htmlHappiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
"Average number of transations per surveyor in london, reached 16 - over treble that of the lowest point in the downturn back in February 2009 when respondents were selling a mere six."
http://www.londonlovesbusiness.com/property/residential-property/london-home-sales-highest-for-four-years-says-rics/7197.article0 -
I had been trying to buy a property since June 2013, we went to view quite a few propertys, we made about 6/7 offers on propertys before we actually bought one over the summer, they where either out bidding us or agreed elce where, most propertys where going for over there asking price. So i think there was defo some demand there for propertys in out area,
I bought my property in November, I had agreed a sale in July for the property, it was on the Market for £160k, my offer was accepted at 153, the sale took untill Nov to go through. (Lots of compliance to be done and not enough staff - searches, solicitors, etc) In that time the house across the road went up on the market for £182, they apparently came to see the seller of my house asking them to take the house off the market and re market it for a similar price. Obv's they said no as the sale was going through thankfully.
So from my exsperience i would say the market is still moving forward and growing, i think i read somewhere its going to pick up another 8% in 2014 also.
So fingers crossed there are more people out there like me, think its the right time to move and keep the market moving on up
0 -
If the following news is true (which is a good news) then I expect market to stall further.
http://www.dailymail.co.uk/news/article-2538917/A-mortgage-Only-cope-rate-rise-Potential-buyers-stress-tested-lenders-major-crackdown.html
Should have been done as a matter of course all the way through and reinforced post the banking collapse. Why has it taken so long for the regulator to act?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Interesting thoughts from the OP, this is what I have been wondering too. We've been looking from spring last year and the market just went crazy with prices shooting up. Now I'm receiving loads of property particulars from EA's asking if we'd be interested to view. Nice properties which are reasonably priced tend to sell quickly but there are certainly few sellers out there thinking they can get £££'s and some for theirs..... Well, it's a waiting game for us....0
-
I'm looking for a house (South East but not near London). The houses are not moving. Several houses are in market for nearly a year (even after some reduction in price). Even some EAs said that market is stagnant. Lots of viewing, then few offers and finally buyers pulling out due to either failing to get a mortgage or because failed to sell their own properties.
If the following news is true (which is a good news) then I expect market to stall further.
http://www.dailymail.co.uk/news/article-2538917/A-mortgage-Only-cope-rate-rise-Potential-buyers-stress-tested-lenders-major-crackdown.html
Pre crash is was max 4 x income.
Post crash it's 4 x income after credit commitments. Which one is more risky?
The bills have been priced in for most lenders for at least the last 12 months and we was stressed tested based on 6% interest rate. A friend fixed for 5 years in 2008 on a 95% mortgage for 5.5%. I think people need to get a grip.0 -
Pre crash is was max 4 x income.
More like 10x income pre crash
Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
From the front line;
It's fair to say I cannot recall having so many enquires as I've had this year thus far.
Most properties are attracting several offering parties and bidding wars are now the norm.
I'm on the outskirts of London.
BTW - if anyone is interested I now have a great little private lender on board for 1 man band developers lending up to 60% no questions asked, money available in a week. They charge around 0.8% per month - short term development finance. Do not lend in the north.
It's like the old days!!
Sorry this sounds like spam, mot my style at all, it's just I wanted to get across what a wild west market it is again in some respects.0 -
it's just I wanted to get across what a wild west market it is again in some respects.
What full of cowboys and bandits?
Isn't that what fired the last set of problems?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards