House Prices on verge of Collapse!
23 September 2004, 07:00 PM
#91
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Just looked at the stockmarket ..... all the BIG fallers are house builders!!
The men in suits know what they are talking about - houses ain't selling!!
Remember who told you so!!
Pete
The men in suits know what they are talking about - houses ain't selling!!
Remember who told you so!!
Pete
23 September 2004, 08:17 PM
#92
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Originally Posted by Recaro
I'm looking at buying near Reading. looking round aborfield, winnersch, etc. which is in between Reading and Bracknell
property seems to be a bit cheaper then my current location.
property seems to be a bit cheaper then my current location.
Simon.
27 September 2004, 09:37 PM
#93
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"The number of mortgages approved by banks fell by 22% in August from a year earlier, figures have showed.
According to the British Bankers' Association (BBA), 64,000 property loans were granted last month.
This compares to 81,635 new loans approved in August 2003, representing a fall of 21.6%"
"Overall, net mortgage lending rose by £4.4bn, the smallest increase since June 2002, and falling short of £5.6bn, the average for the previous six months"
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Told you so!
No-one wanting to buy = big house price falls!
Pete
According to the British Bankers' Association (BBA), 64,000 property loans were granted last month.
This compares to 81,635 new loans approved in August 2003, representing a fall of 21.6%"
"Overall, net mortgage lending rose by £4.4bn, the smallest increase since June 2002, and falling short of £5.6bn, the average for the previous six months"
-----------------------------------------------------------------------
Told you so!
No-one wanting to buy = big house price falls!
Pete
27 September 2004, 09:48 PM
#94
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But Capital Economics said that its prediction of a 20% fall in UK prices, beginning in the second half of 2004, "remains on track".
The group noted a "striking" similarity between recent survey results and those that preceded the market crash of the early 1990s.
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Oh Dear
Pete
The group noted a "striking" similarity between recent survey results and those that preceded the market crash of the early 1990s.
------------------------------------------------------------------
Oh Dear
Pete
28 September 2004, 10:49 AM
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we still have estate agents going door to door asking if we are interested in selling our house as people are desperate to move to this area.
But i do agree house prices will have to come down, it is expected, as long as i stay clear of negative equity im not bothered.
But i do agree house prices will have to come down, it is expected, as long as i stay clear of negative equity im not bothered.
28 September 2004, 10:59 AM
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Originally Posted by TopBanana
Got a nice fat cheque in the post today from my property sale. All I have to do now is put my feet up on the desk, light a cigar and wait
28 September 2004, 11:04 AM
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Originally Posted by davegtt
u could b waiting a while whilst you blow that big fat cheque on renting...lmfao
28 September 2004, 11:05 AM
#100
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House prices stable where I live. Some regions will be hit harder than others, but 20-30% is not going to happen, unless the seller was being stupidly greedy in the first place.
Matt
Matt
28 September 2004, 11:16 AM
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Tel, nobody knows nothing for sure but its pretty much a safe bet that we wont see a drop of 20-30% why would it crash? people are still buying and whilst thats happening theres not going to be a crash full stop, whilst people are prepared to pay money for something its not going to reduce in price IMHO
28 September 2004, 11:16 AM
#104
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Because I have several friends who are estate agents. 
Although the number of people buying houses has declined slightly, the cost of the houses that are selling is still at, or near, the asking prices.
Clearly if a house needs lots of work, then things are different. On the "average" £200k property in my area, prices have risen slightly, or have been stable, depending on the location. With houses in the £500k plus bracket, prices are coming down.
Matt
Although the number of people buying houses has declined slightly, the cost of the houses that are selling is still at, or near, the asking prices. Clearly if a house needs lots of work, then things are different. On the "average" £200k property in my area, prices have risen slightly, or have been stable, depending on the location. With houses in the £500k plus bracket, prices are coming down.
Matt
28 September 2004, 11:21 AM
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Dave - momentum could be the biggest factor. Like all moves, rationality goes out the window at a certain point. Matt - true, the higher price bands will be affected first, but there's every chance this will filter down. Don't forget, 20% has been the *annual* increase for the past four years - seeing a decline of 20% really wouldn't surprise me at this point.
28 September 2004, 11:28 AM
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Tel,
If a 20% drop, year on year happens, then it happens. I think in extreme cases we may see drops of that magnitude, but it certainly won't be the norm. I'd expect London and the South East to be more greatly affected than almost all other areas of the UK.
Fingers crossed it's not too drastic for us, and those that are geared up a little can afford to ride it out.
Matt
If a 20% drop, year on year happens, then it happens. I think in extreme cases we may see drops of that magnitude, but it certainly won't be the norm. I'd expect London and the South East to be more greatly affected than almost all other areas of the UK.
Fingers crossed it's not too drastic for us, and those that are geared up a little can afford to ride it out.
Matt
28 September 2004, 11:34 AM
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Originally Posted by davegtt
u could b waiting a while whilst you blow that big fat cheque on renting...lmfao
Last edited by TopBanana; 28 September 2004 at 11:38 AM.
28 September 2004, 11:43 AM
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I understand that well Mr Bananna, if you can live with the inconvenience of living in some1 elses house then you may well come off well, if not you may just find your getting more hassle from moving around and waiting etc.... the gain you'll get is it going to be worth that hassle.
I'll agree the odds are, the housing market will go down in value than up but I can't see it being enough to warrent taking a risk/selling up etc. Id much rather just live in my house for another year at least before we even start to see a significant decrease. Obviously this is my opinion as with every1 else cause its all guess work
I'll agree the odds are, the housing market will go down in value than up but I can't see it being enough to warrent taking a risk/selling up etc. Id much rather just live in my house for another year at least before we even start to see a significant decrease. Obviously this is my opinion as with every1 else cause its all guess work
28 September 2004, 11:56 AM
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House prices will not go down. Where's all the unemployed people and high interest rate rises??? NOWHERE, and nor for the foreseable future!!! thats why house prices will not go down....period.
28 September 2004, 06:25 PM
#113
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There you go again Tiggs ..... proving beyond all doubt that your brain is the size of a peanut! 
When do Estate Agents NOT want houses on their books??!!
A 20% correction is happening NOW!
Falling house prices isn't a myth - its a reality ..... sticking heads in the sand will not make the horrible naughty little fact go away!
Pete
When do Estate Agents NOT want houses on their books??!! A 20% correction is happening NOW!
Falling house prices isn't a myth - its a reality ..... sticking heads in the sand will not make the horrible naughty little fact go away!
Pete
30 September 2004, 08:49 AM
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so lewis & other property experts...
what would your reply be to the Halifax (the UK's largest estate agents) who had a 0.2% "increase" for the month of September ??
stated on GMTV this very morning.
(although I know you (lewis) are just a bored old man who has loads of time on his hands & to be honest probably doesn't really give a **** about all this as you are a complete wind-up merchant. I have been a member for over 4 years now & feel that I can say this )
shunty
what would your reply be to the Halifax (the UK's largest estate agents) who had a 0.2% "increase" for the month of September ??
stated on GMTV this very morning.
(although I know you (lewis) are just a bored old man who has loads of time on his hands & to be honest probably doesn't really give a **** about all this as you are a complete wind-up merchant. I have been a member for over 4 years now & feel that I can say this
)shunty
30 September 2004, 08:55 AM
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lewis, probably the worst timed reply ever (carlsberg style), didn't you see the GMTV figures released by the Halifax for yourself this morning, as mentioned by me already:
"There you go again Tiggs ..... proving beyond all doubt that your brain is the size of a peanut! When do Estate Agents NOT want houses on their books??!!
A 20% correction is happening NOW!
Falling house prices isn't a myth - its a reality ..... sticking heads in the sand will not make the horrible naughty little fact go away!"
shunty
:"There you go again Tiggs ..... proving beyond all doubt that your brain is the size of a peanut! When do Estate Agents NOT want houses on their books??!!
A 20% correction is happening NOW!
Falling house prices isn't a myth - its a reality ..... sticking heads in the sand will not make the horrible naughty little fact go away!"
shunty
30 September 2004, 09:01 AM
#117
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Hold on, hold on. If you're taking a building society's headline numbers like that, you can make it suit your needs quite easily. Don't forget, it's in their interests to make you believe prices are still increasing...
30 September 2004, 09:04 AM
#119
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1 all sroce draw telboy I think.
Listen I have got to go out soon, in about 30 mins.....so if I dissapear untill late this afternoon then that's why....
no doudt I will have some answering to do when lewis starts hitting the querty keys
shunty
Listen I have got to go out soon, in about 30 mins.....so if I dissapear untill late this afternoon then that's why....
no doudt I will have some answering to do when lewis starts hitting the querty keys
shunty
30 September 2004, 09:05 AM
#120
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1 all score draw telboy I think.
Listen I have got to go out soon, in about 30 mins.....so if I dissapear untill late this afternoon then that's why....
no doubt I will have some answering to do when lewis & others start hitting the querty keys
shunty
Listen I have got to go out soon, in about 30 mins.....so if I dissapear untill late this afternoon then that's why....
no doubt I will have some answering to do when lewis & others start hitting the querty keys
shunty