Although I would like this to be over by August, I think that is extremely optimistic I think it will start to recover next year but I don't know when the prices will increase?

 

Most of the 'experts' think there is still a long way to fall in prices ..... any improvement is from a very low level, to a slighlty less low level.

The demand is not enough to drive prices up - there are still too many sellers not being realistic, buyers are registering an interest but are waiting for the price falls.

 

Bo E still painting a Gloomy picture of a very slow recovery .



But on a brighter note ,interest rates may stay low until the end of Next Year !!!!!!!


Suits me Sir !!!!!!

 

Foxtons NHG been on the phone today

said they have had the busiest week ever, and would we consider putting our property on the market again --- for more than it was on in Oct last year

meanwhile in leafy Cambs we have taken our other property off the market

 

They are after property for their books .... they will say anything to gain those properties.

An Estate Agent without property for sale is dead in the water .... so, they tell you that the value is up, this gets you on the treadmill with them .... 3 weeks later they advice that you drop the price.

 

i know ssup

I’m not selling anything at the mo -- I think I will re-market next spring, - I need to sort a few conveyance/legal issues anyway

 

Mortgage Lending up 29% last month .!!!!!!!!!


Must mean houses are Actually selling now .!!!!!


Wheres it all going to go ........

 

In one direction, thats up up and away!!!!!!!!!

Dip yer bread while you can!

 

Ha Ha Ha .... up 29% .... 29% of nothing is still nothing!

I have been contacted today about a couple of properties sold last week which have fallen through ........................ valuations are coming in massively under the agreed price.

 

Also reported that First Time Buyers are significantly up last month .

Now if this is not a sign of a kickstart to the market ,then I dont know what is .!!!!!!!!!!!!

 

Yep, because prices are dropping and a very small amount of people are buying.

Lending is still way down on this time last year when prices were still plummetting.

More sales will mean prices will drop further as supply is outstripping demand massively. 1000000 properties currently on rightmove with 30000 or so selling.

 

presumably the repossesed properties will have to wash through the system before it really takes off again

(I actually bought a reposession way back in 1995, just before property skyrocketed)

 

Very wise IMHO. i still think we're not out of the woods yet, and prices will still drop another 10 - 20%.

Lots of talk earlier this week about higher interest rates in the next 18 - 24 months. That won't help prices recover.

 

Prices rise AGAIN

http://news.bbc.co.uk/1/hi/business/8073157.stm

Dec 2008 = £153,048
May 2009 = £154,016

So 5 months into the year and prices are up

http://www.nationwide.co.uk/hpi/historical/May_2009.pdf
http://www.nationwide.co.uk/hpi/historical/Dec_2008.pdf

Those of you thinking there is a long way yet to drop are in the land of wishful thinking i would say.

From peak in Oct 2007, Nationwide index are only reporting a 17.2% drop in house prices. Hardly anywhere near the 40-50% some of you are hoping for. Dont miss the boat people

 

Rising prices on small volumes, some months up, some down, been seen before in previous crashes.

I'll stay in my land of wishful thinking thanks.

 

Jesus.... For NJKMRS

Does it not occur that perhaps a sizable chunk of the 29% increase in lending was simply re-mortgages???

Just because LENDING rose, certainly doesnt mean they gave more MORTGAGES out.

We are no where near seeing prices increase and your crazy to think otherwise.

Dip yer Bread? My ****, certainly speaking from my neck of the woods, and what I have seen in other area's.

 

On another tack Pete, have you got a bumper title book which lists thread titles which are guaranteed to produce extremely long threads?

Les

 

C'mon! Anyone admitting to actually having bought an "investment property" recently? Please tell, and let us poke fun, helping this thread stagger over the 1000 line!

 

I've sold plenty...... And they have been at very good prices.

3 Bed semi which in 07 would have fetched 135k have sold for sub 90k.

Have I bought any? NO.

 

Les

It's not the title that draws the crowds .... it's the Original Poster

 

Back onto the subject of House Prices ..... looks pretty stable out there at the moment. Things are selling now.

 

traditionally the strongest time of year for house sales though?

been looking around at prices for 1 bed places where we used to live as an indicator and they are still a lot stronger than i was hoping - peaked at 125-130 but still asking for 110-115.

using these as an indicator as remember selling our first 1 bed house about 11-12 years ago for £40k thinking it would never be worth more than that!

even if they drop to 80k it would still seem too much - but surely this is where they are likely to end up as average salary x 3 + small deposit would make them affordable to single first time buyers?


on the other hand oil is creeping back up which seems to point to economic recovery being forecast....

 

Whoooaa Chill Sister .!!!!!!

All the signs are there .
People are starting to buy ,people are getting Mortgages ,the sun is out ,the Gloom is lifting .
Get on board Son .
All in the Mind .Think positive .We coming out of it .

Swing us another Becks in whilst your at it .!!!!!!!!!!!

 

Don't forget that during the 74 month long 89-95 housing crash there were 24 +ve months and 48 -ve months.

Just adding some perspective.

 

The real test for House Prices will be when the Interest rate increases .... wages are on a downward trend and House Prices 'must' follow - which is why I don't understand what is happening now as places are selling and sellers are firming up on thier prices.

 

The boat is still waiting to sink.

This is the classic dead cat bounce as per the last price crash. All the factors are in place for further drops. Banks aren't lending, more unemplyment and more people defaulting and losing their house.

A minor blip. Buy now and lose your deposit within a year.

Why do people actually want high prices? Other than investors it is plain stupid to want pay more for something than necessary. Your next step on the ladder is just more expensive in turn.

 

I'm as chilled as they come, but when I hear people advising others to wade in to the market in its current state, and that advice is wrong, I cant not call it.

That isnt to say there are not bargains to be had at the moment if you know where to look and, crucially, are prepared to take on a property needing lots of work. Some of the prices we have sold property at recently is absolutely staggering, in some cases almost 50% from peak 18 months ago. That is of course a good buy.

I'm an Estate Agent and have been selling property all over the world for the past 9 years, so I know what I'm talking about. Not an expert, but I know enough to confidently say, that I would happily show my **** in Blackpool High Street if we see 3-4-5 months consecutive increase in average prices this year.

 

Julio ,I have not once told anyone to part with their hard earned .

I am more tongue in cheek looking at the market and commenting on which way it will go .

All in a positive yet light hearted way .


IF I was sure then I would be charging people for my opinion .

Take my word at your own Risk .

Apologies if anyone has been hanging on my every word .