Prices falling in south east

HouseBuyer_2

There are some price falls where I am (west sussex) but I haven't been tracking long enough to know how bad it is.

Nice to see the weekly property paper has lots of ads with new prices stamped across it. I know 3 properties have dropped in price in 2 weeks but also have had 2 properties withdrawn from the market.

3under3

Ok so 26% reduction gets a sale, fair few commentators suggesting a 20% fall over the next two years - after than who knows... choice for FTBers then do they jump in now - seems that if they wait two years they'll only be getting the same price for the house then?

morg_monster

if all the FTBers did jump in now (even with a 25% reduction), then the housing cra-rrection would definitely be cancelled!!
Not everyone would be able get a mortgage for the house they want, even with a reduction, so will have to wait until things calm down a bit.

Me and the OH hoped to be FTBers this summer, not happening now but keeping an eye on prices, ideally in Kingston borough. Flats are dropping but not houses yet in our fave areas, and I'm not sure they will much. We weren't looking to buy a flat but if we could get a two bed flat with a good offer making it about the same monthly repayments as we rent our 1bed flat for (inner London borough) we'd probably jump in, assuming we could get the mortgage. I doubt they'll go that low to be honest, especially with mortgage interest rates getting higher all the time, but you never know...

posh*spice

Well Done op:T:T:T:T:T:T:T:T:T:T:T Good luck.;)

moanymoany

HouseBuyer wrote: »

There are some price falls where I am (west sussex) but I haven't been tracking long enough to know how bad it is.

Nice to see the weekly property paper has lots of ads with new prices stamped across it. I know 3 properties have dropped in price in 2 weeks but also have had 2 properties withdrawn from the market.

Where in West Sussex are you tracking HB, I've just sold in Crawley and feeling very happy? I'm looking at PO20 and today I saw the first re-listing at a 7% drop. I phoned the agent and they said the property developer buyer had said they couldn't buy for 3 months and the seller has seen the property they want to buy. It is a space I will be watching!;)

They told me my intended spend won't buy me what I want - time will tell.

Bf109

Well done Mr. OP!

Wish I had your luck. Am seeing loads of reductions but its 5k here and 10k and then just sticking around on the market for month after month.

mitchaa

sundayone wrote: »

I have been watching a lovely house in a lovely road since february.It has gone as follows 305k 299 289 279 269 249 at which point i viewed it last monday and offered 225 which aftyer much ado was accepted yesterday.That is 26% down and more if you consider the house 2 doors up completed in november at 330.Good road good schools 3 bed tra victorian house.Hang in there everyone this is happening and prices may actually become affordable soon

If its fallen £80k in 3 months ill eat my hat:rotfl:

Hmm...1 post and its to do with massive reduction in price over the space of only 3 months on a very volatile forum site:rolleyes:

Is this a trolling attempt from another member who feels the need to try and stamp in that there is a ''housing crash'' but doesn't want to under his/her own name so made up a false account;)

Seriously who on earth would buy at the moment, and who would sell at £225k from an initial £305k in such a short time scale?

Wind up....Hook, line, sinker for most of you:T (The amount of thanks in the 1st post just says it all)

Bite...Bite...Bite;)

m00m00

>80k fall

how about 5 months

get the salt and pepper out for your hat then


http://www.rightmove.co.uk/viewdetails-16834285.rsp?pa_n=1&tr_t=buy


24th May 2008

• Price changed: from '£374,950' to '£359,950'

26th Apr 2008

• Price changed: from '£393,950' to '£374,950'

29th Mar 2008

• Price changed: from '£413,950' to '£393,950'

3rd Mar 2008

• Price changed: from '£434,950' to '£413,950'

13th Feb 2008

• Price changed: from '£435,950' to '£434,950'

3rd Feb 2008

• Price changed: from 'Guide Price £450,000' to '£435,950'

30th Jan 2008

• Initial entry found.

neverdespairgirl

johng_uk wrote: »

Has anyone been keeping an eye on prices in Canterbury at all since the crunch?

I'd be interested to know if prices have dropped there over the period.

Hi - I've done a search, in Canterbury, for resale 3 and 4 bed places (otherwise it would be mad, too many places to look at).

Here are a few examples of drops in price:

(1) http://www.rightmove.co.uk/viewdetails-17391790.rsp?pa_n=1&tr_t=buy

'£595,000' to '£565,000'

(2) http://www.rightmove.co.uk/viewdetails-10327917.rsp?pa_n=2&tr_t=buy

'Guide Price £550,000' to 'Guide Price £495,000'

(3) http://www.rightmove.co.uk/viewdetails-17932099.rsp?pa_n=6&tr_t=buy

'£349,995' to '£324,995'

(4) http://www.rightmove.co.uk/viewdetails-17307358.rsp?pa_n=11&tr_t=buy

£290,000' to '£279,995'

(5) http://www.rightmove.co.uk/viewdetails-17759575.rsp?pa_n=18&tr_t=buy

'£248,000' to '£229,995'

HouseBuyer_2

moanymoany wrote: »

Where in West Sussex are you tracking HB, I've just sold in Crawley and feeling very happy? I'm looking at PO20 and today I saw the first re-listing at a 7% drop. I phoned the agent and they said the property developer buyer had said they couldn't buy for 3 months and the seller has seen the property they want to buy. It is a space I will be watching!;)

They told me my intended spend won't buy me what I want - time will tell.

Tracking in RH15 (but only semi/detached with 3 or 4 bed that we want to buy) so it's very specific.

New builds not dropping around here yet (they are offering free carpets, stamp duty but selling at the same price)