Estate agents seeing "blood in the water"

The-Joker

Time to buy when there is blood in the streets.....or blood in the water

but we all know things will get a lot worse before they get better

we are nowhere near the bottom in property this next downturn will go on for years and go very low

HPC_Ghuol_Hunter

Which Ghuol are you over on HPC?

chucknorris

The-Joker wrote: »

Time to buy when there is blood in the streets.....or blood in the water

but we all know things will get a lot worse before they get better

we are nowhere near the bottom in property this next downturn will go on for years and go very low

Please stop, you are scaring me, I'm really worried that I might die from laughing.

bobbymotors

The-Joker wrote: »

Time to buy when there is blood in the streets.....or blood in the water

but we all know things will get a lot worse before they get better

we are nowhere near the bottom in property this next downturn will go on for years and go very low

complete rubbish.

as usual.

GreatApe

The-Joker wrote: »

Time to buy when there is blood in the streets.....or blood in the water

but we all know things will get a lot worse before they get better

we are nowhere near the bottom in property this next downturn will go on for years and go very low

But property is already too cheap in most the country

I think its extremely unlikely you can get houses that cost less than build cost for an extended time in a nation with a growing population and a need/want for a lower average occupancy rate.

It can happen in various economically weak spots within a naiton, eg middles borough where homes cost less than build, but on average it can't

Do you remember ireland?

Everyone was saying what a ridiculous property bubble they had even Hamish mostly the bull was berating ireland. I was saying all the way back even at the very bottom around 2010 that Ireland did not have a property bubble and actually has a shortage of homes. Fast foward 6-8 years and all the papers now talk about irelands property shortages.

The simple truth is the world needs close to 5 billion good quality homes and only has about 2-3 billion there is still a big shortage of billions of homes.

The UK will go towards 75 million people by 2040 and we will need at least 36 million homes. That means we need to build another 7 million homes over the next 22 years. I think that build rate is possible and we may hit it but the real question is how can you think house prices will go below build costs in an environment where we need millions more homes?

The-Joker

It does not matter how Manny people there are wanting to buy a certain property, all that matter sis how many can afford to buy.

Look at a refugee camp as an example, lots of demand and very little supply.

The UK is like that yes lots of demand, and little supply, but if most people can't ever raise the funds then its not true demand.

If you look at it like that then demand is actually going down as people become poorer and less able to afford property costs



But it will correct itself as always, prices will come down to what people can afford, and then the cycle will repeat

vivatifosi

I am in Hertfordshire. Prices around here have definitely plateaued and houses are taking longer to sell, but they haven't started falling yet. Possibly because we are also soaking up people who can't afford to buy in London.

Thrugelmir

GreatApe wrote: »

Fast foward 6-8 years and all the papers now talk about irelands property shortages.

Rather than read papers. Pay a visit and you'll understand the matter far better. There's plenty of property for sale.

movilogo

Let's hope it is bloodbath


Market is stagnant and without transactions EAs don't earn anything. Perhaps they should now realize that lower house price is better for their own good

westernpromise

In London it's all about the stamp duty. If you have a budget of £2 million that's about £1850 for the house and £150k for the stamp duty. The seller gets less for the house and also pays more stamp duty out of what he does get when he buys. So the market is grinding to a halt from the top down.