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  • FIRST POST
    • MSE Guy
    • By MSE Guy 13th Jul 10, 8:44 AM
    • 1,628Posts
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    MSE Guy
    MSE News: House prices expected to fall
    • #1
    • 13th Jul 10, 8:44 AM
    MSE News: House prices expected to fall 13th Jul 10 at 8:44 AM
    This is the discussion thread for the following MSE News Story:

    "Property professionals are predicting further drops following a surge in the number of homes put up for sale ..."

    Read the full story:
    House prices expected to fall

Page 1
    • mystic_trev
    • By mystic_trev 13th Jul 10, 9:19 AM
    • 5,147 Posts
    • 15,365 Thanks
    mystic_trev
    • #2
    • 13th Jul 10, 9:19 AM
    • #2
    • 13th Jul 10, 9:19 AM
    This is the discussion thread for the following MSE News Story:

    "Property professionals are predicting further drops following a surge in the number of homes put up for sale ..."

    Read the full story:
    House prices expected to fall


    Originally posted by MSE Guy

    I'll provide a link to the Houses prices board!
    I expect they haven't seen this yet

    http://forums.moneysavingexpert.com/forumdisplay.php?f=149
    • MSE Guy
    • By MSE Guy 13th Jul 10, 10:20 AM
    • 1,628 Posts
    • 1,255 Thanks
    MSE Guy
    • #3
    • 13th Jul 10, 10:20 AM
    • #3
    • 13th Jul 10, 10:20 AM
    Thanks, Trev.

    The reason it is posted in the mortgages board is because the house prices board is hidden to those not logged in, meaning those coming from the news story to the discussion may not be able to view it.
    • MissMoneypenny
    • By MissMoneypenny 13th Jul 10, 11:07 AM
    • 5,179 Posts
    • 8,426 Thanks
    MissMoneypenny
    • #4
    • 13th Jul 10, 11:07 AM
    • #4
    • 13th Jul 10, 11:07 AM
    Perhaps this thread should also be on the house buying board also, to warn people to adjust their offers accordingly? A money saving tip that could save them thousands.

    With lenders still wanting a large deposit, it has been looking like lenders expected futrther drops. They would rather the buyer lose their own money instead of the lenders.

    The buyers of my mother's house are getting the jitters. We were hoping the sale would go through at what they offered. Although we were just about to drop the asking price again, when they made their offer before we dropped the price. We won't be too surprised if they make a revised offer.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


    • SallyD
    • By SallyD 13th Jul 10, 12:28 PM
    • 1,009 Posts
    • 379 Thanks
    SallyD
    • #5
    • 13th Jul 10, 12:28 PM
    • #5
    • 13th Jul 10, 12:28 PM
    I am in such a pickle. Put an offer in yesterday that was turned down....phew I am not going to rush back in as I felt the offer was fair taken into account the addition of a small conservatory and landscaped garden but compared to other houses on the same estate my offer was 10k over the new sale price on the third phase of houses.
    SallyD
    • Peelerfart
    • By Peelerfart 14th Jul 10, 11:49 AM
    • 1,998 Posts
    • 1,720 Thanks
    Peelerfart
    • #6
    • 14th Jul 10, 11:49 AM
    • #6
    • 14th Jul 10, 11:49 AM
    Good job you've got here then business_man, i was wondering who was going to make sense of it all for us.
    • brit1234
    • By brit1234 14th Jul 10, 2:44 PM
    • 5,191 Posts
    • 11,968 Thanks
    brit1234
    • #7
    • 14th Jul 10, 2:44 PM
    • #7
    • 14th Jul 10, 2:44 PM
    MSE hasnt got a lot of sense really. Its a good forum for people looking for dole advise or a £2 advise. I am quite confident that there wont be a huge drop in prices anytime soon. Current market is hugely investor distorted.

    I am writing a blog. Am I allowed to put a link here? I am outlining the current property market situation! I am willing to answer anybodys question on property market. Either commercial or resedential. The only problem is with off-plan developments which are currently on hold for foreseeable future and many people have suffered loses in terms of lost deposits.

    I have one of my developments on hold which was in association with seren.

    The market hasnt got a bright future but isnt gonna fall down either. DHR is one example of this off plan developments.

    Half reason for this problem is fear and depression. Market had some signs of recover however it is very very slow as we speak.

    Any questions I will be happy to answer.
    Originally posted by business_man
    I have to strongly disagree, house prices will fall to normal levels from these over inflated ones.

    You have to take into count the double digit price increases of the last decade caused through too low interest rates, mass fraud and greedy speculators, too lax lending conditions, gearing, land registry manipulation by developers.

    To make it simple we created a huge housing bubble which was unsustainable. The country is in an economic mess and can't support these overvalued prices, they are going to correct to normal.

    To say no falls will occur ignores wage freezes, job juts, higher taxes, fraud clampdowns and possible interest rate rises as well as the mortgage funding shortages coming up next year.

    House prices will continue to crash. I advise to hold off buying and save a bigger deposit in the mean time.
    Scams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • £££saver
    • #8
    • 14th Jul 10, 3:56 PM
    • #8
    • 14th Jul 10, 3:56 PM
    When people (inc buyers, sellers, lenders, surveys etc) talk about house prices moving up or down by x%, or regarding forecasts for the short-term future, av prices etc, does this also take into account new builds?

    Because I would have thought that more/less people putting their houses up for sale on the market would have less of an effect compared to competition from other builders, and the supply of new homes?

    Just wondering as I am pretty much only interested in buying a new build (with the exception of maybe some "nearly-new" builds), and although prices will obviously move to some extent in line with the market, I was wondering whether all the house price talk and number of sellers would have that much of a significant impact.
  • hedgehopper
    • #9
    • 14th Jul 10, 4:05 PM
    • #9
    • 14th Jul 10, 4:05 PM
    Feel like we've chosen a terrible time to buy, but what can I say, we went for it when the time was right for us

    Anyone got a view on whether London is likely to be affected any less than the rest of the UK? We're sort of clinging to that hope right now.
    • Cannon Fodder
    • By Cannon Fodder 14th Jul 10, 4:20 PM
    • 3,848 Posts
    • 6,208 Thanks
    Cannon Fodder
    Feel like we've chosen a terrible time to buy, but what can I say, we went for it when the time was right for us

    Anyone got a view on whether London is likely to be affected any less than the rest of the UK? We're sort of clinging to that hope right now.
    Originally posted by hedgehopper

    London is a big place...







    Some parts recovering slower than many areas outside London, which might fall hard if we double-dip.

    Other parts steaming ahead, may well stay ahead of the average.
    Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.
  • NASA
    What about Northern Ireland?

    I know it varies, like London, just thinking of a general trend?
    • Cannon Fodder
    • By Cannon Fodder 14th Jul 10, 6:22 PM
    • 3,848 Posts
    • 6,208 Thanks
    Cannon Fodder
    NI market discussed here; http://rpp.ulster.ac.uk/housing-archive.php
    Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.
    • poppy10
    • By poppy10 15th Jul 10, 4:27 PM
    • 6,164 Posts
    • 7,463 Thanks
    poppy10
    What about Northern Ireland?
    Originally posted by NASA
    Norn Iron had a bubble that was crazily overinflated compared to the rest of the UK. Prices there still have a long, long way to fall before they reach sustainable long-term levels.
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