Housing Market Downturn - Really?!

mystic_trev

Doozergirl wrote: »

actually I favour 666, so it's not that random

arrrrrrrgh.....................................you little devil

Doozergirl

How many houses in Sussex? I wanna know how much £100 million is each.

irnbru_2

Lips wrote: »

1 and 2 were in Old Drumchapel

I know that area: was it a bungalow per chance?

Lips wrote: »

135317

Bungalow it is .......

O.D. is a sought after area and if property 1 & 2 were bunglaows, I'm afraid the 250K stamp duty level is no barrier to entry yet.

The last one for renovation sold at 190K (pretty sure that's near completion). I know one other sold for renovation prior to it but I'll check the house number tomorrow.

I think, at present, you'll be hard pushed to find a vendor who'll bite at 250K

Running_Horse

13 properties for sale on Rightmove in my area, but rises to 22 when you include sold STC.

Those with realistic (mid 2007) prices are selling fast. Those clinging onto late 2007 valuations still not sold. People still want to buy, but are not being silly.

selectcase

round my way - somerset - decent properties that are reduced by around 6 -10% from june - sept 07 prices are selling in the past couple of weeks. In contrast some that sold stc around june-sept fell trough the sensible ones reduced by around 8% and have sold again
I have been closley watching since last april when we thought aout selling ours

fc123

Trollfever wrote: »

You need to move to Sussex!


Millions of pounds to tumble from Sussex house prices
By [EMAIL="miles.godfrey@theargus.co.uk"]Miles Godfrey[/EMAIL]

Comment | Read Comments (231)

Experts are warning homeowners to get out of the property market before a massive crash wipes more than £100 million off the value of Sussex homes.
Slowing house prices and mounting worries over sub-prime mortgage lending has led industry bosses to predict that the county's property market will slump in 2008.

From:

http://www.theargus.co.uk/news/generalnews/display.var.1989716.0.millions_of_pounds_to_tumble_from_sussex_house_prices.php

Sorry, but a link to The Argus ???. I picked this paper up today...the articles in the Argus are...wellll....just soooooo smalltown though it is meant to cover a "City".
Stories are poorly researched, plagiarised from the nationals and totally painful to read most of the time.....the wood on the beach was a proper , local story and they couldn't even beat the Daily Hate on coverage.

Actually, I hope it does the dirty work though....then I can afford a house in the area that I cannot currently afford. :T
Gutted, as I threw in it in the bin...there was a sooo banal article on the next page that I could have quoted to show up the poor writing of this rag.

OMG...you must live near me:eek:

fc123

OMG, I just waded through some of the comments...National homebuyers in Portslade office used it for a plug!!!

This area is going to feel it too troll fever....not a case of IF? but WHEN?
Same with the boom....certain areas rose at diferent times (and once one has a 10 yr pattern..it is easy to say why) so the same thing happens with the downturn.
PS; you didn't quote the article that EA, Farrells of Hove just went bust (+ Momma Cheries...the restaurant on Gordon Ramsey Nightmares that rose to fame off the back of the show).........stick to FT or Merryn Somerset Webb links????

Trollfever

OMG...you must live near me


Under the A27 Shoreham flyover.

Alan_M_2

lynnexxxo wrote: »

Lips,

The overs offer price rarely reflects the sale price. In most areas at least 10% over is normal. in more popular areas - West End, Bearsden, Milngavie at least 30% over the offers over price is a normal offer.

In Scotland it doesn't really matter as much if you are part of a chain or not, once your offer is accepted its legally binding, hence the vendor doesn't care if your house sale falls through as you still have to complete with them.

It's about time something like this was introduced in the rest of the UK, it would stop an enormous amount of wasted time and money. Instead we waste even more time and money with HIPS.

fc123

Trollfever wrote: »

OMG...you must live near me


Under the A27 Shoreham flyover.

Moi? Roedean;)