'We've reached a tipping point' Signs of house price weakness

ukcarper

Crashy_Time wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/200468-i-like-to-start-the-day-with-al150k-drop-over-1-year/


Found one of yours Acorn. LOVE the driveway.

Very rarely been on HPC but newbrits post is rubbish why should it be worth 4x the salary he uses. Is that the typical standard of HPC posters.

Crashy_Time

ukcarper wrote: »

Very rarely been on HPC but newbrits post is rubbish why should it be worth 4x the salary he uses. Is that the typical standard of HPC posters.

Because people have to live within their salary limits, and borrow within their salary limits? The main point is that the would be seller is heavily reducing their asking price. That would be in line with the title of this thread, that we have reached a tipping point for overpriced property in the UK?

ukcarper

Crashy_Time wrote: »

Because people have to live within their salary limits, and borrow within their salary limits? The main point is that the would be seller is heavily reducing their asking price.

But what has that got to do with that particular house being 4x the income he quotes perhaps you could explain.

wotsthat

Crashy_Time wrote: »

Because people have to live within their salary limits, and borrow within their salary limits? The main point is that the would be seller is heavily reducing their asking price. That would be in line with the title of this thread, that we have reached a tipping point for overpriced property in the UK?

Even following the reductions in asking price it'll still be the highest ever paid on Hardwick Road in Wellingborough - by around £100k.

Bubble_and_Squeak

Crashy_Time wrote: »

Because people have to live within their salary limits, and borrow within their salary limits? The main point is that the would be seller is heavily reducing their asking price. That would be in line with the title of this thread, that we have reached a tipping point for overpriced property in the UK?

london definitely
not sure about the rest of the uk

Minrich

We have been looking for a property for our daughter in Suffolk , in the town we live houses in the first time buyer price range have risen 20% in 14 months ! We haven't bought one and not likely to . We will wait for a while and see what happens -

Crashy_Time

ukcarper wrote: »

But what has that got to do with that particular house being 4x the income he quotes perhaps you could explain.

It means even if we assume some really high earner would want to buy it, most people can`t afford it without BOMAD/Liar Loan/HTB or combination of all three? It is overpriced and it is going to crash in price.

Crashy_Time

Bubble_and_Squeak wrote: »

london definitely
not sure about the rest of the uk

A lot of the UK (Edinburgh for example) is stuck at 2004 prices. They can still correct from there though, when the EZ crisis really gets going, and Londebt pops.

ukcarper

Crashy_Time wrote: »

It means even if we assume some really high earner would want to buy it, most people can`t afford it without BOMAD/Liar Loan/HTB or combination of all three? It is overpriced and it is going to crash in price.

So you think it is likely to be bought by a FTB with a 100% mortgage rubbish post as I said.

Crashy_Time

ukcarper wrote: »

So you think it is likely to be bought by a FTB with a 100% mortgage rubbish post as I said.

No. I think the seller is starting to get realistic about the market, and that it will likely drop in price further.