House Market Stalling?

movilogo

Number of homes for sale dips to lowest level since 2007

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10580089/Number-of-homes-for-sale-dips-to-lowest-level-since-2007.html#comment-1208995406

Loughton_Monkey

movilogo wrote: »

Number of homes for sale dips to lowest level since 2007

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10580089/Number-of-homes-for-sale-dips-to-lowest-level-since-2007.html#comment-1208995406

Nice little comment on the bottom. Could have been posted here....

prester_john LR "the quoted £243K average asking price is 9.43 times gross average salary"

Ah, I love the sense of entitlement there.

When did the average single earner ever get to live in the average house?

"Buy a house today with a high level of debt and you risk a noose around your neck for life !!!"

People like you have been worrying about this on my behalf for at least 18 years (you can read all about yourself on Usenet as far back as 1996 if you care to). It's very kind of you, but I've always ignored you loony doommongers, and so far you've been wrong for 18 years and I've been right.

A lot of BTL landlords - such as myself - have risked your "noose" many times. Having been patient as well, we are now sitting pretty. If you're as afraid of risk as you obviously are, you will only ever amount to a salaried employee of someone else, renting someone else's house.

Meanwhile your kind are always vocal in demanding that people who took risks you haven't the backbone to face should now be expropriated, because it's not faaaaaaaaaaaaair, because you want their cheap house without the risks they took.
Ain't gonna happen, son.

Linda_D_2

MrRee wrote: »

I'm always very upbeat, as you know.

However, I have noticed a change in the wind regarding house selling recently.

Number 1 - the Halifax reports a drop in house prices for December 2013.

Number 2 - we have a few youngsters in our office who have bought in 2013 and a couple who are looking to buy now.

Number 3 - I have been keeping an eye on property to buy a holiday home on the coast.

No. 1 is probably due to Xmas .... but, looking at No 2 and 3 I'm not so sure.

No. 2 ... the youngsters buying last year were literally fighting each other for property when it came to the market, this created a panic and prices rose significantly from spring 2013 onwards. However, those looking at property now are being contacted by Estate Agents daily asking them to view properties ....... that's a marked change and indicates a falling off of demand.

No. 3 ... in 2008 and 2009 I had Agents contacting me all the time to view properties on the coast, then it stopped as they had buyers willing to buy in 2010 and price started recovering. A property I was tracking has come back onto the market and the Agents are now starting to contact me as they did in 2008.

When you are close to the market like I am you notice small changes in how hard Estate Agents have to work to get viewings ...... they seem to be struggling like they were in 2008/2009.

Now, I'm not suggesting a fall in house prices of any great amount - what I am flagging up is what I have noticed, and that is a lack of people looking at properties ...... the buyers have either been satisfied last year, or for some other reason they have fallen away in some numbers?

This is in the afluent South by the way, where prices never really fell in any case. Just the sentiment seems to have changed over the past 10 months.

Anyone as close to the action as I am noticed this as well?

We don't need your gloom and doom Mr Pricklesspants/Ree on these message boards. Just because you're barely existing, living in your mother's knickers drawer, doesn't mean the rest of us are suffering.

My home went up in value 5k in the last month

REJOICE!!:beer::T:beer:

MrRee_2

And the 2014 award for the most pointless post goes to the above!

kmmr

The first £1m flat has just been listed on my street. 2 beds, no garden! I'll be very interested to see if it sells.

MrRee_2

The asking prices are being pushed and pushed - just to be reduced when no interest is forthcoming.

Personally, I refuse to do business with a vendor who has shown themselves to be willing to 'test' the market with a greedy price ... you know what is important to them then - money over honour - so, if a higher offer comes in after they have agreed yours they will not hesitate to dump you!

Buy a home which was sensibly priced and you may well be dealing with a seller who will stick by their word.

padington

Here in Harringay it's the buyers that are being greedy by fighting each other and pushing the price up usually way above the asking price. Seriously in north London, you don't need to set a high price, the market sets it for you.

I guess it doesn't help when you have the evening standard clearly marking out Harringay and Waltham Forest as the best London investment opportunities for 2014 with more ridiculous double digit 'gains' on the way.

IveSeenTheLight

kmmr wrote: »

The first £1m flat has just been listed on my street. 2 beds, no garden! I'll be very interested to see if it sells.

I watched with interest when the below property was advertised.

https://www.aspc.co.uk/search/property/313629/Tigh-na-Bruaich/By-Potterton/

The reason being is that I am building a very similar house only 10 miles away from this one (with better local services / community infrastructure).

12 months ago, when I kicked off the self build process, my property value on plan was valued at £400k, yet this property has went on the market and is now under offer at around £100k more.

There is further potential area value increase when the road infrastructure is improved by 2017 and a new local secondary new school (£36 million) is completed in 2015.

I remain surprised at how resilient the market actually is and seems to be accelerating beyond my expectations.

MrRee_2

Nice views from that property, not sure about the very small plot and the pebbledash which seems to have been used ....... but £500,000 isn't a lot of cash, so guess you can't be too picky.

padington

Location, location, location reported north london not selling in weeks or days but now things going in hours. Phill says he's never seen anything like it.