Housing Market Downturn - Really?!

irnbru_2

irnbru wrote: »

New agents, guess they had no luck.

Now at £299995 FP.

Pez2

These local anecdotals don't really tell us much. If you look at the Halifax statsitics, Scotland has the highest year-on-year rise of all the regions, so unsurprising that the market is still robust in Glasgow.

In fact, according to the same figures only 6 out of the 12 regions have actually shown falls in the last quarter, so difficult to generalise from one part of the country to another.

Laughing_Man_2

Near me, in Norwich, property bee shows the developers of the 'blue mills' flats jacking prices between £5k-£125K on every unit: It must therefore be an excellent time to buy.

paulj2001

jackieb wrote: »

I didn't get that house. It was O/O £205k. It went for £250k.

Lips wrote:

I've bid on 3 properties that have come on the market since 3rd January, as follows :

Property 1 - listed at offers over £220k. I bid £245k.
Property 2 - listed at offers over £225k. I bid £249,950.
Property 3 - a complete renovation project, listed at offers over £145k. I bid £170,050.

All three of these properties attracted multiple offers, and every time, I was outbid. I am a cash-buyer with no chain.

I thought that the market was supposed to be slowing down?! Glasgow, apparently, is thriving. More's the pity...

- Lips

If I were you, just keep the money in the bank! Just because a house is up for a price doesn't mean it's actually worth anywhere near that, it's just what the owner/agent wants for it and we all no how much hype has been created over the last few years to do with house prices.... Finally, the market may be coming to its senses.

Buy a house in the USA, where you get a lot more for your money! They don't use computers to 'shoehorn' properties onto every little bit of ground in those cramped little housing estates. They also don't build houses with plasterboard walls! Have you ever wondered why we seem to pay more for a bungalow in the UK than a house? The Americans place more emphasis on square footage, put simply, the bigger the house is, the more it's worth....makes sense?! Over here, we're too busy fleecing that bit extra out of OAPs' life savings to buy a little bungalow with 'no stairs', etc.

:rotfl:

loftysgirls

Ok so we all know about the 2.5% average reduction in house prices during march.

Well I was reading the housing supplement of the local newspaper in Ipswich (I am on the market currently) and low and behold East Anglia didnt have a reduction but instead an increase of 1.4% during march according to the same source (Halifax).

This was confined to a eighth of a page on page 8 of the supplement.!!!!


I know some areas did drop during March but all the Press and Estate Agents have done is scare people!

neas

my area dropped 3.5% :P wahoo

brit1234

loftysgirls wrote: »

I know some areas did drop during March but all the Press and Estate Agents have done is scare people!

Really! For years the press and estate agents have ignored a highly unstable housing bubble. All the press and estate agents are doing is stating the blatantly obvious now we have reached meltdown. I wish they were scaring them years ago not when it is too late.

We have reached crash point.

pickles110564

neas wrote: »

my area dropped 3.5% :P wahoo

What 3.5% from the 350% increase in the last 10 years.
About as much use as a chocolate teapot.
Oh well least it will keep you and !!!!!!? happy:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

pickles110564

brit1234 wrote: »

We have reached crash point.

Please give me euro lottery numbers as well.
:rotfl:

Gonzo

I'm absolutely no expert (before you jump on me!) but the way I read it, it's no surprise that Scotland is a lagging a bit in any price drops. As far as I can see, they market it at the 'reserve' price originally, so people have to put what they think it's worth and a bit extra to beat the other bidders. The more you get outbid on, the more you load your quote until you win, but who knows you may be 50k over the next highest bidder?? I think I prefer to have a reasonable idea what it should go for from the EA and have an opportunity to hear if the other bids have beaten me so I can take the decision to pay a bit more if need be. On the other hand, I like the way you are 'tied into' a bid once you've made it. Perhaps some kind of 'half way house' could be devised? The openness of the English system, with the tie in of the Scottish.

Call me a dreamer...sigh...