Is The Market Really That Bad

ReadySteadyPop

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

MeteredOut

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

Apologies, but I did laugh at the irony of you contributing advice to a post about someone trying to time the housing market

jimbog

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

Couldn’t believe my eyes when I read this. Finally, the penny has dropped 

EssexHebridean

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

JEEZ! what was that noise?!  Ahh, hang on, the penny has dropped, hasn’t it! 

strawb_shortcake

After seeing houses in our search area remain unsold for ages there seems to have been real flurry of offers and lots on the save list are now sold STC. 
We have still have viewings booked in for our house, but if we get an offer our pool of possible houses is now quite small. 

itsallyellow

Im probably being a bit impatient, just expected to at least have a viewing or two by now.

Lots of talk about waiting for the budget etc. My issue with that is I cant see the market getting any better post budget.....

The reason im concerned about a general price drop in the market is that im not looking to buy anything else. Im selling this property to move back into on of my others. Basically cashing out.

monkey-fingers

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

I particularly enjoyed the irony of this post.

ComicGeek

It doesn't help that the numbers of new build properties being built is also falling. The 1st quarter of this year had the lowest number of completed dwellings since 2014 according to the ONS. They haven't released data on the 2nd quarter yet, but other figures released show a significant reduction from recent years, particularly in London.

That has an impact on the general housing market. 

Herzlos

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

Bingo. There's also the fact that one way down even if the house price drops, the mortgage interest and deposit rates will go up due to banks being risk averse. 

So ironcically a new buyer may stand a better chance of getting on the ladder when a house is a stable £200k then if it's dropped to £150k in a falling market. Because they now need a 20% deposit instead of 10% and the interest has doubled.

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Herzlos said:

The trick is knowing when the market is about to fall or rise. Most people just up or down size as they need it. 

Even if you knew, the fact that property is so illiquid means you probably won`t act fast enough, and all the up/downsizing stops in a stalled market because people can`t sell or buy ( due to more expensive mortgage debt)
If you could predict interest rates that might be more helpful?

Bingo. There's also the fact that one way down even if the house price drops, the mortgage interest and deposit rates will go up due to banks being risk averse. 

So ironcically a new buyer may stand a better chance of getting on the ladder when a house is a stable £200k then if it's dropped to £150k in a falling market. Because they now need a 20% deposit instead of 10% and the interest has doubled.

Not quite, I am talking about people trying to time the market (or expecting that their house is a "store of value") to cash out (as a poster above is trying to do) or buy a better house with the increase in value of their present house (never really got this as the next house is also getting more expensive as the bubble inflates) not borrowing into an overvalued market.

On your second point, are you saying that people didn`t buy houses when mortgage rates were 10%?