Debate House Prices


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House Price Crash Discussion Thread

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  • beingjdc
    beingjdc Posts: 1,680 Forumite
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    xarjia wrote: »
    hey guys.

    look at this. worrying news

    a report out today says house prices in London have fallen by an average of £28,000 in the past month

    http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3059977.ece

    You mis-spelled "brilliant news" ;)
    Hurrah, now I have more thankings than postings, cheers everyone!
  • moneymare
    moneymare Posts: 611 Forumite
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    Some "House Price Crash".

    Bought my house for £137k 18 months ago.
    Next door neighbour has just put his on market (identical property in similar condition) - £164950.

    Now there's no saying he will get asking price for it, or indeed it will sell in the near future but that's some increase in anyone's language.
    WARNING!
    Alcohol can make you think you are more interesting and attractive than you actually are.....
  • m00m00
    m00m00 Posts: 1,755 Forumite
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    no one is disputing there has been rampant house price inflation in the past 18 months in many areas. What few people are disputing now, is that it won't continue. Who's to say your neighbour wouldn't have listed his at 180k 3 months ago ?
    It's a health benefit ...
  • tr3mor
    tr3mor Posts: 2,325 Forumite
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    moneymare wrote: »
    Some "House Price Crash".

    Bought my house for £137k 18 months ago.
    Next door neighbour has just put his on market (identical property in similar condition) - £164950.

    Now there's no saying he will get asking price for it, or indeed it will sell in the near future but that's some increase in anyone's language.

    You're expecting a crash starting roughly now to have affected the past 18 months?
  • hgllgh
    hgllgh Posts: 169 Forumite
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    moneymare wrote: »
    Some "House Price Crash".

    Bought my house for £137k 18 months ago.
    Next door neighbour has just put his on market (identical property in similar condition) - £164950.

    Now there's no saying he will get asking price for it, or indeed it will sell in the near future but that's some increase in anyone's language.

    If that's the first asking price then an eventual selling price in the current market may be close to around 140K.... propertysnake.co.uk
  • moneymare
    moneymare Posts: 611 Forumite
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    No, 2 other properties have sold at asking price in the same cul-de-sac over last 6 months for between £150-£155K.

    My view is that house prices have probably levelled-off in the last 3 months, but given another cut (or two) in interest rates at the start of next year, and they will grow again.

    There will be no crash, IMHO
    WARNING!
    Alcohol can make you think you are more interesting and attractive than you actually are.....
  • mystic_trev
    mystic_trev Posts: 5,430 Forumite
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    More than a fifth of people who came off fixed-rate mortgages this year have found it hard to meet higher repayments, the Bank of England says.

    http://news.bbc.co.uk/1/hi/business/7147563.stm
  • dolce_vita
    dolce_vita Posts: 1,031 Forumite
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    moneymare wrote: »
    No, 2 other properties have sold at asking price in the same cul-de-sac over last 6 months for between £150-£155K.

    My view is that house prices have probably levelled-off in the last 3 months, but given another cut (or two) in interest rates at the start of next year, and they will grow again.

    There will be no crash, IMHO


    You are in for a rude awakening.

    And a lesson in economic cycles.
    dolce vita's stock reply templates

    #1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided

    #2. This time next year house prices in general will be lower than they are now

    #3. Cheap houses are a good thing not a bad thing
  • mystic_trev
    mystic_trev Posts: 5,430 Forumite
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    moneymare wrote: »
    There will be no crash, IMHO

    I think what you mean is ' I bought a house 18 months ago so I don't want a crash' :rolleyes:
  • hgllgh
    hgllgh Posts: 169 Forumite
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    moneymare wrote: »
    No, 2 other properties have sold at asking price in the same cul-de-sac over last 6 months for between £150-£155K.

    My view is that house prices have probably levelled-off in the last 3 months, but given another cut (or two) in interest rates at the start of next year, and they will grow again.

    There will be no crash, IMHO

    The US has had 2 or 3 interest rate cuts ... still crashing :T
    what makes you think its different here where our property is 50% more over valued than the US :confused:
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