Are Prices Really Decreasing?!?

Tassotti

Not in my area!!

1 Bed Flats, 3 years ago 100K, now 135K (sold prices)

2 Bed Flats, 3 yrs ago 120K, now 165K (sold prices

ermmmm

Gorgeous_George

So, they haven't fallen over three years.

When 1 bed flats are £50K you'll be able to argue that they cost £1,000 sixty years ago so prices are still going up.

Statistics, statistics and damned lies.



GG

itsgototstop

Not here either (west london), want to trade up but in no hurry so just watching!

tr3mor

Tassotti wrote: »

Not in my area!!

1 Bed Flats, 3 years ago 100K, now 135K (sold prices)

2 Bed Flats, 3 yrs ago 120K, now 165K (sold prices

ermmmm

The peak was a couple of months ago. You do understand what a peak is don't you?

It's like the top of the hill. We've walked all the way up and now we're walking down the other side.

:money:

Tassotti

I thought the peak was 4, 5, 6 years ago

Tassotti

Gorgeous_George wrote: »

So, they haven't fallen over three years.

When 1 bed flats are £50K you'll be able to argue that they cost £1,000 sixty years ago so prices are still going up.

Statistics, statistics and damned lies.



GG

Haven't fallen in past 20 years!!! Thought you were a LL?

movilogo

House price is such a fad that we can have infinite number of threads without any conclusive result.

It also depends whom & when you ask the question. Till last month, I was a buyer and was saying that price will come down. Now I am going to buy a house so will shout that price will always go up

The bottom line is, if you think your house as home and can afford the mortgage, you shouldn't lose sleep.

itsgototstop

With 2 bed garden flats in my street still going up and selling for 450-475k I am watching all property doom shows and not seeing it here? I think prices too high but even today properties are being bought at these prices????? Is London diff or not just filterd through yet?

Generali

If you want to see where the market is, watch the auctions. There you have willing buyers and forced sellers. My guess is that prices are falling quickly there although I have neither the time nor inclination to check.

Where you have willing buyers and willing sellers, the market is seizing up as they have different views about what property is worth which is why volumes are shrinking fast.

Either prices need to fall or demand needs to rise to make the market clear again. My guess is the former will happen due to falling funds available for mortgages. I have no way of knowing for sure though.

alan44

tr3mor wrote: »

The peak was a couple of months ago. You do understand what a peak is don't you?

It's like the top of the hill. We've walked all the way up and now we're walking down the other side.

:money:

Not necessarily, it is far from certain that is the case; it's more likely a plateau. Of the regulars, only Capital Economics predict a fall this year, and they are almost always wrong. They also predict the ecconomy will rise by 2%, and interest rates fall to 4% (a rate cut every other month). Exactly what set of circumstances could perpetuate all three is anyone's guess.

What Tassotti is doing is using exactly the same system the Land Registry do to measure price rises; a like-for-like system.

http://www.landreg.gov.uk/assets/library/documents/hpir1207.pdf

This is why they very, very rarely have a monthly fall, and prices are still rising. Using your hill analagy, he's take a route that isn't as steep, and is therefore still on his way up.

dannyboycey

Tassotti wrote: »

Not in my area!!

1 Bed Flats, 3 years ago 100K, now 135K (sold prices)

2 Bed Flats, 3 yrs ago 120K, now 165K (sold prices

ermmmm

Posting a pathetic reply to your own question = priceless! :rotfl: