Are Prices Really Decreasing?!?

Gorgeous_George

Tassotti wrote: »

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

I am but that has no relevance to this particular thread.

Imagine, if you will, a roller-coaster ride. Three years ago your cart was being cranked up to the top of the ride. Today, you are teetering on the edge waiting for the drop. You are higher now than three years ago.

But hold on tight, it could be a thrilling ride.

On the other hand of course, it is Winter and property volumes always fall. Maybe prices will pick up in the Spring but my guess is that they won't. Then, we will have compelling evidence of a price correction. I hope MSEers are prepared for the consequences and do whatever they can to soften the blow.

GG

Tassotti

Gorgeous_George wrote: »

Imagine, if you will, a roller-coaster ride. Three years ago your cart was being cranked up to the top of the ride. Today, you are teetering on the edge waiting for the drop. You are higher now than three years ago.

But hold on tight, it could be a thrilling ride.

On the other hand of course, it is Winter and property volumes always fall. Maybe prices will pick up in the Spring but my guess is that they won't. Then, we will have compelling evidence of a price correction. I hope MSEers are prepared for the consequences and do whatever they can to soften the blow.

GG

Three years ago...blah blag...4 years ago,, 5, 6 7 years ago, I was hearing the same things GG

You are right though, in that property is seasonal.!

But you have believed the hype on this site

One sees a slowdown in the winter months (dunno, may be due to Christmas and all that) but you and I and all others will see it pick up in the next year.

Don't give in to the doom mongers.

Tass

itsgototstop

Gorgeous_George wrote: »

I am but that has no relevance to this particular thread.

Imagine, if you will, a roller-coaster ride. Three years ago your cart was being cranked up to the top of the ride. Today, you are teetering on the edge waiting for the drop. You are higher now than three years ago.

But hold on tight, it could be a thrilling ride.

On the other hand of course, it is Winter and property volumes always fall. Maybe prices will pick up in the Spring but my guess is that they won't. Then, we will have compelling evidence of a price correction. I hope MSEers are prepared for the consequences and do whatever they can to soften the blow.

GG

Agree, but what of mse's who bought a while ago and want security, can afford mortgage, and can weather price falls?. This is my position and I admit loath to sell up even now.

Tassotti

Have seen no evidence of a crash in my area (it slowed down for a while but has taken off again).

Stay firm, your rewards will be there GG.

Forget the HPC'ers..They are bored on their own site and are trying to talk down the market on here,

Hmmmmmm

Tassotti

itsgototstop wrote: »

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?

London THE leading factor on house prices...ermm take note note

beingjdc

1) I think calling people who want prices to fall doom-mongers is absurd. Wanting ordinary working people to be able to afford decent housing, wanting a society where people earn money by working, not by sitting on wealth they already have, and wanting better value for money are all profoundly optimistic things.

2) Who said prices haven't fallen in the last 20 years, up there? They fell in 1990, 1991, 1992, and 1995.

3) There hasn't been a 'plateau' in house prices in the modern era. They either go up, or they go down. That's magnified now by the buy-to-let business model, which isn't worth it if they're not going up rapidly.

4) Most of the indices are *already* seasonally adjusted, so if Halifax say prices have fallen by 1% since summer, they've actually fallen by 4%. They need to go up by 3% between now and Summer for them to report that they've plateaued.

PasturesNew

What a strange and angry little person.
Contrary and peculiar with an air of rage.

itsgototstop

I bought for £285k 2 years ago after selling my old flat I had had for 8 years for £230k

I bought because ( and paid an extra 50k plus stamp)

1) share of freehold, saved me £3k a year excluding one off works

2) a master bedroom en suite i can let for 750 incl a month

3) 40 foot garden i can extend into like neighbours

4) an extra 200 square foot as it stands

5) more central to tubes etc

6) central heating ( before none)

7) old flat had a lease of 89 years, freeholders wanted 25k to renew all leases , I couldn't afford to pay that

zoezoe_3

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

I think you will find that all recent reports indicate that the rate of INFLATION has decreased over recent months, not the house prices themeselves.

itsgototstop

Sorry I forgot the point of my post...

Until 1998 I lived in shared houses and hated it

when I bought first flat in 1998 for 120 I was warned not to as market was peaking

when I bought last flat in 2006 I was warned same

Next door neighbour just sold same flat as mine for 450k


I know prices are too high but I just want to keep paying off my mortgage bit by bit till its mine, can't afford to move on up at the moment so happy to stay here for next 10 years, which I wouldn't have been in old flat.