Is The Market Really That Bad

Herzlos

ReadySteadyPop said:

theartfullodger said:

Ask me in 5 years time and I'll tell you what the market position is this day today.  Any other response is a guess. 

Property prices have always gone up & down, different areas different, etc etc... The red-top myth that property always goes up is a lie.

best of luck

No they haven`t, we have had a 25 year run where they only went up (due to low interest rates and cheap debt) they tend to crash sometimes, not go "up and down". The credit conditions of the last few years are not coming back again IMO, so it will be very hard to keep going up this time.

There certainly wasn't low interest and cheap debt when I bought in 2007 at 5.7%, and from what I can tell the housing market has a dip (or 'crash' I guess) every 10-15 years but always recovers and grows over time. I'm sure I've ridden out at least 2 crashes since that point though when I wasn't remortgaging or moving I wasn't paying that much attention. 

BikingBud

2 crashes since 2007, really? How would you characterise a crash?

Herzlos

I was being a bit facetious with 'crash'. I'm referring to the dips in 2008 and 2022, that took 6 and 2 years to recover from:

https://www.cladco.co.uk/blog/post/history-of-uk-house-prices

strawb_shortcake

Our house has been  on the market 4 weeks now, viewings were really slow to start with but have really picked up in the last 10 days and have 4 more booked in for the coming week.

Feedback has been positive, no comments on the price being too high so hoping some of thee viewings might turn into an offer! 

We didn't go with the highest valuation, but as we're looking for something similarly priced to ours I think it's fairly priced and offers a lot of house and garden for the money, certainly compared to what else is available.

As a complete aside, I can't believe how dirty and messy some houses are left in for viewings 

itsallyellow

Thanks for all the replies. House went on the market 10 days ago. Unfortunately no enquiries yet. Loads of advert views but i guess that is people just looking.

From what im seeing nothing seems to be moving at all in this price range. 

We are in no rush to sell so will see how it goes. Cant decide weather just leaving it on the market is damaging or if it would be worth taking it of before Christmas and going again in March.

strawb_shortcake

itsallyellow said:

Thanks for all the replies. House went on the market 10 days ago. Unfortunately no enquiries yet. Loads of advert views but i guess that is people just looking.

From what im seeing nothing seems to be moving at all in this price range. 

We are in no rush to sell so will see how it goes. Cant decide weather just leaving it on the market is damaging or if it would be worth taking it of before Christmas and going again in March.

We are keeping ours on for the minimum term, if we haven't sold we'll come off the market and try again in two years. 
I'm not seeing a huge amount moving to sold, but if you've marketed £50k under I would have thought you'd have had some enquiries in 10 days, but perhaps the SE market is more challenging. 

We are in the SW, I understand Bristol is still  quite buoyant, but where we are it's been really slow

ReadySteadyPop

Slinky said:

ReadySteadyPop said:

theartfullodger said:

Ask me in 5 years time and I'll tell you what the market position is this day today.  Any other response is a guess. 

Property prices have always gone up & down, different areas different, etc etc... The red-top myth that property always goes up is a lie.

best of luck

No they haven`t, we have had a 25 year run where they only went up (due to low interest rates and cheap debt) they tend to crash sometimes, not go "up and down". The credit conditions of the last few years are not coming back again IMO, so it will be very hard to keep going up this time.

If and when a 'crash' comes along, it's never going to wipe out 25 years of gains. 

You should research the 80`s crash, no one knows what is going to happen, that actually happened.

itsallyellow

Standard type stuff around 500k seems to be selling ok in our area. Anything else just doesn't seem to have any movement

ReadySteadyPop

strawb_shortcake said:

itsallyellow said:

Thanks for all the replies. House went on the market 10 days ago. Unfortunately no enquiries yet. Loads of advert views but i guess that is people just looking.

From what im seeing nothing seems to be moving at all in this price range. 

We are in no rush to sell so will see how it goes. Cant decide weather just leaving it on the market is damaging or if it would be worth taking it of before Christmas and going again in March.

We are keeping ours on for the minimum term, if we haven't sold we'll come off the market and try again in two years. 
I'm not seeing a huge amount moving to sold, but if you've marketed £50k under I would have thought you'd have had some enquiries in 10 days, but perhaps the SE market is more challenging. 

We are in the SW, I understand Bristol is still  quite buoyant, but where we are it's been really slow

What is the thinking behind the two years timing?

strawb_shortcake

ReadySteadyPop said:

strawb_shortcake said:

itsallyellow said:

Thanks for all the replies. House went on the market 10 days ago. Unfortunately no enquiries yet. Loads of advert views but i guess that is people just looking.

From what im seeing nothing seems to be moving at all in this price range. 

We are in no rush to sell so will see how it goes. Cant decide weather just leaving it on the market is damaging or if it would be worth taking it of before Christmas and going again in March.

We are keeping ours on for the minimum term, if we haven't sold we'll come off the market and try again in two years. 
I'm not seeing a huge amount moving to sold, but if you've marketed £50k under I would have thought you'd have had some enquiries in 10 days, but perhaps the SE market is more challenging. 

We are in the SW, I understand Bristol is still  quite buoyant, but where we are it's been really slow

What is the thinking behind the two years timing?

Not really any of your business to be honest, but it's in no way linked to what I think the market will or won't do