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

Crashy_Time

http://www.rightmove.co.uk/house-prices/PL19-9FD.html?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E3783312%26minPrice%3D140000%26maxPrice%3D175000%26minBedrooms%3D2%26radius%3D0.5

khards

HAMISH_MCTAVISH wrote: »

cml.org.uk /cml/media/press/3953

It's an average.

Some regions are up on previous peak, some are still down. But the UK on average is up.

Interesting link to CML, hadn't looked at that one before.

It's intersting to see that BTL are paying 20% more than before. Does that mean we will see a 20% hike in rents? Or is the BTL borrowing just responding to high yields?

Crashy_Time

khards wrote: »

Interesting link to CML, hadn't looked at that one before.

It's intersting to see that BTL are paying 20% more than before. Does that mean we will see a 20% hike in rents? Or is the BTL borrowing just responding to high yields?

:beer:..Oh wait...only kidding :rotfl:

khards

HAMISH_MCTAVISH wrote: »

He'd probably look at renting for 17 years as a financial disaster though...... :money:

They are both fianancial disasters.

1, Buying a bad house/flat in a area you don't want to be in (because you cant afford better/can't get the mortgage)

2, Renting somewhere you want to live, because you can affor dthe rent.

Hard choices, I have been there and neither options are good, both are a disaster, which would you choose if you were under 30?

wotsthat

Sheep_In_Wolves_Clothing wrote: »

If the house attached to someone's house which has the same number of bedrooms, the same number of downstairs rooms and bathrooms all of an identical/virtually identical size, of a virtually identical exterior interior condition/modernisation, with the same size garden. etc. sells for considerably less than what was paid for their house, what happens to the value of their house?

If my neighbours' house sells for £100k less than I thought mine was worth I'd have to wonder if mine was worth what I thought.

We're back into HPC theory again - ask questions about what might happen to avoid the awful truth of what has happened. Never look at the big picture either - stick to comparing very small sample sizes rather than data collated according to written methodologies by statisticians.

Is Bruce Banner coming too? He's my favourite.

khards

Crashy_Time wrote: »

:beer:..Oh wait...only kidding :rotfl:

Have I seen you somehere before ?

Got to love the circuses here:
:T:rotfl::A:):money::j:beer:

wotsthat

Crashy_Time wrote: »

http://www.rightmove.co.uk/house-prices/PL19-9FD.html?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E3783312%26minPrice%3D140000%26maxPrice%3D175000%26minBedrooms%3D2%26radius%3D0.5

Try adding half a mile to that radius so you can see prices going back further in time.

PL19 9RD has doubled since 2001

ukcarper

wotsthat wrote: »

If my neighbours' house sells for £100k less than I thought mine was worth I'd have to wonder if mine was worth what I thought.

We're back into HPC theory again - ask questions about what might happen to avoid the awful truth of what has happened. Never look at the big picture either - stick to comparing very small sample sizes rather than data collated according to written methodologies by statisticians.

Is Bruce Banner coming too? He's my favourite.

It's also true the other way a neighbours house has just sold for £60k above peak so my house is now worth a lot more than I thought.

Jack_Johnson_the_acorn

I have a horrible feeling you might be Crashy's doppelganger.

Sheep_In_Wolves_Clothing wrote: »

Your're simply being pedantic about Crashy Time's using the word 'question', when it's pretty clear they are asking you to address the point he has made numerous times in their posts.


Crashy Time has not changed their point/question but simply made it clearer, not that it needed to be made clearer IMO.


I'll make it clearer for you and other posters:


If the house attached to someone's house which has the same number of bedrooms, the same number of downstairs rooms and bathrooms all of an identical/virtually identical size, of a virtually identical exterior interior condition/modernisation, with the same size garden. etc. sells for considerably less than what was paid for their house, what happens to the value of their house?

Originally Posted by Crashy Time - If someone in your street sells for less than you paid, and the houses are similar, that is the new value of your house, you have no control over the process.

If this is a question then you’re a grapefruit…..
Then amended to

Originally Posted by Crashy Time - I asked you if you think the value of your house is affected by sale prices for similar houses in the area

So it’s gone from My house can only be sold for what the house next door sold for….

To my house is affected by the sold prices of other houses in my street……

I would suggest there is a considerable difference.

If you disagree then you’re clearly incredibly naïve or dim witted. I hope this isn’t the case and you are instead just being incredibly biased.

So to answer for the 3rd TIME - Do you think the value of your house is affected by sale prices for similar houses in the area?

(simplistically)The value of a house is what someone is willing to pay for it..... Of course a shockingly low price on the same street would cause concerns for potential buyers. But would in no way dictate the price of all similar houses on that street…..

Sheep_In_Wolves_Clothing

wotsthat wrote: »

If my neighbours' house sells for £100k less than I thought mine was worth I'd have to wonder if mine was worth what I thought.

We're back into HPC theory again - ask questions about what might happen to avoid the awful truth of what has happened. Never look at the big picture either - stick to comparing very small sample sizes rather than data collated according to written methodologies by statisticians.

Is Bruce Banner coming too? He's my favourite.

I never said anything about 100K, you're using a straw man argument.


The poster I was responding to (and at least one other) was claiming that if a house sold for less than one in the same street which was similar in every way then the value of that house wouldn't be effected when it clearly would.