House Prices Now At 2004 Levels
#1743
You have been warning us since 2002. Even allowing for boom bust, it will need several busts to get us back to 2002. Prices peaked in January 2008 in NI. The average increase in the previous 12 months was 58%. Previous year was 39% and the years before that average 20% since 1994.Since the bust, prices have gone down around 25% a year for two years, then declined slowly at about 2% on a year on year basis.So I buy a house in 2002 for 100k.2003 - 120k (plus 20%)2004 - 144k (plus 20%)2005 - 172k (plus 20%)2006 - 206k (plus 20%)2007 - 286k (plus 39%)2008 - 451k (plus 58%)2009 - 338k (minus 25%)2010 - 253k (minus 25%) Maybe you can be ar5ed to work out how many more years we need to have a 25% drop to get back to 2004 levels, and more interestingly, maybe you can tell us how may 25% drops it will take us to get back to the point that you first predicted 'the crash'
#1744
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That is an impressive rise and fall already, the mainland and Scotland in particular has been rather more sober. You'd be rather upset if you bought near peak when many were because they thought it was a once way bet and hence prop up the prices well beyond any sensible value. I don't think has seriously begun yet on the mainland and am not buying. I first became concerned in late 2006, and the big drops have been prevented by ZIRP whilst inflation is still a problem.
Last edited by john banks; 18 July 2010 at 04:51 PM.
#1745
Scooby Regular
You have been warning us since 2002. Even allowing for boom bust, it will need several busts to get us back to 2002. Prices peaked in January 2008 in NI. The average increase in the previous 12 months was 58%. Previous year was 39% and the years before that average 20% since 1994.Since the bust, prices have gone down around 25% a year for two years, then declined slowly at about 2% on a year on year basis.So I buy a house in 2002 for 100k.2003 - 120k (plus 20%)2004 - 144k (plus 20%)2005 - 172k (plus 20%)2006 - 206k (plus 20%)2007 - 286k (plus 39%)2008 - 451k (plus 58%)2009 - 338k (minus 25%)2010 - 253k (minus 25%) Maybe you can be ar5ed to work out how many more years we need to have a 25% drop to get back to 2004 levels, and more interestingly, maybe you can tell us how may 25% drops it will take us to get back to the point that you first predicted 'the crash'
Thanks. Can you recalculate all those figures taking inflation into account please?
#1746
#1747
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Here's another heads-up for you as I am clearly the only one here with his pulse on the market .....
The Estate Agents on the South Coast have started ringing me again.
I was looking for another home, retirement home, on the South Coast during the last downturn .... I didn't have to sell, so the falling market was an opportunity for me.
The falls were nothing really, not many properties for sale and sellers holding out. The prices recovered and the Estate Agents (who had been ringing me daily) stop calling. Until the last 3 weeks where their interest in me as a buyer not a seller and with finance secured has racked up remarkably ...... clearly they are trailing through their previous contacts as buyers have disappeared.
This next year will see houses lose the 35% in value which I fully expected last time around, properties are flooding to the market and buyers have left. That can only mean one thing - BIG price falls.
#1749
Yeah, right ....
Here's another heads-up for you as I am clearly the only one here with his pulse on the market .....
The Estate Agents on the South Coast have started ringing me again.
I was looking for another home, retirement home, on the South Coast during the last downturn .... I didn't have to sell, so the falling market was an opportunity for me.
The falls were nothing really, not many properties for sale and sellers holding out. The prices recovered and the Estate Agents (who had been ringing me daily) stop calling. Until the last 3 weeks where their interest in me as a buyer not a seller and with finance secured has racked up remarkably ...... clearly they are trailing through their previous contacts as buyers have disappeared.
This next year will see houses lose the 35% in value which I fully expected last time around, properties are flooding to the market and buyers have left. That can only mean one thing - BIG price falls.
Here's another heads-up for you as I am clearly the only one here with his pulse on the market .....
The Estate Agents on the South Coast have started ringing me again.
I was looking for another home, retirement home, on the South Coast during the last downturn .... I didn't have to sell, so the falling market was an opportunity for me.
The falls were nothing really, not many properties for sale and sellers holding out. The prices recovered and the Estate Agents (who had been ringing me daily) stop calling. Until the last 3 weeks where their interest in me as a buyer not a seller and with finance secured has racked up remarkably ...... clearly they are trailing through their previous contacts as buyers have disappeared.
This next year will see houses lose the 35% in value which I fully expected last time around, properties are flooding to the market and buyers have left. That can only mean one thing - BIG price falls.
#1750
Scooby Regular
Yeah, right ....
Here's another heads-up for you as I am clearly the only one here with his pulse on the market .....
The Estate Agents on the South Coast have started ringing me again.
I was looking for another home, retirement home, on the South Coast during the last downturn .... I didn't have to sell, so the falling market was an opportunity for me.
The falls were nothing really, not many properties for sale and sellers holding out. The prices recovered and the Estate Agents (who had been ringing me daily) stop calling. Until the last 3 weeks where their interest in me as a buyer not a seller and with finance secured has racked up remarkably ...... clearly they are trailing through their previous contacts as buyers have disappeared.
This next year will see houses lose the 35% in value which I fully expected last time around, properties are flooding to the market and buyers have left. That can only mean one thing - BIG price falls.
Here's another heads-up for you as I am clearly the only one here with his pulse on the market .....
The Estate Agents on the South Coast have started ringing me again.
I was looking for another home, retirement home, on the South Coast during the last downturn .... I didn't have to sell, so the falling market was an opportunity for me.
The falls were nothing really, not many properties for sale and sellers holding out. The prices recovered and the Estate Agents (who had been ringing me daily) stop calling. Until the last 3 weeks where their interest in me as a buyer not a seller and with finance secured has racked up remarkably ...... clearly they are trailing through their previous contacts as buyers have disappeared.
This next year will see houses lose the 35% in value which I fully expected last time around, properties are flooding to the market and buyers have left. That can only mean one thing - BIG price falls.
#1751
Scooby Regular
Finance Secured simply means that the money is sat waiting - it does not mean that it has been borrowed. It may be shares realised, long term investments cashed in, gold sold ....
#1752
Then you should be looking for a cheap deal as a cash buyer. If you tell anyone you have finance secured, then you will be an interesting prospect but nothing more. As a cash buyer, you should be able to negotiate a healthy discount offering a quick exchange with no pesky surveyors to tell them their property is only worth a tenner!
#1753
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I still wouldn't buy a shed in this financial climate, unless it was with cash and for a long-term live in.
Prices where I am (Surrey) have risen to silly levels (asking prices) and nothing is moving. Sale prices, from checking zoopla are way off asking prices, showing people's delusional thoughts when they list their houses initially.
I'm happy renting my house for around 65% of the cost of an interest only mortgage p, and letting my money talk out of the UK.
The UK is currently no place to risk one's money.
Prices where I am (Surrey) have risen to silly levels (asking prices) and nothing is moving. Sale prices, from checking zoopla are way off asking prices, showing people's delusional thoughts when they list their houses initially.
I'm happy renting my house for around 65% of the cost of an interest only mortgage p, and letting my money talk out of the UK.
The UK is currently no place to risk one's money.
#1754
Scooby Regular
[quote=fatherpierre;9512859]I still wouldn't buy a shed in this financial climate, unless it was with cash and for a long-term live in.
Prices where I am (Surrey) have risen to silly levels (asking prices) and nothing is moving. Sale prices, from checking zoopla are way off asking prices, showing people's delusional thoughts when they list their houses initially.
I'm happy renting my house for around 65% of the cost of an interest only mortgage p, and letting my money talk out of the UK.
The UK is currently no place to risk one's money.[/q uote]
Where? Greece, Ireland, Spain, Italy, Dubai, USA??
Prices where I am (Surrey) have risen to silly levels (asking prices) and nothing is moving. Sale prices, from checking zoopla are way off asking prices, showing people's delusional thoughts when they list their houses initially.
I'm happy renting my house for around 65% of the cost of an interest only mortgage p, and letting my money talk out of the UK.
The UK is currently no place to risk one's money.[/q uote]
Where? Greece, Ireland, Spain, Italy, Dubai, USA??
#1755
Scooby Regular
Seems the House Prices are now falling back again and the pace of fall is picking up.
Auction houses are empty - reserves not being met.
Many more properties on the market than during the last fall.
This is the start of the real correction many predicted in 2008, when it simply didn't happen.
30% fall anyone?
My money is on a 10% fall the this year, 15% next year and a 10% fall in 2012 ... levelling off as the next election looms large in the mirrors.
Auction houses are empty - reserves not being met.
Many more properties on the market than during the last fall.
This is the start of the real correction many predicted in 2008, when it simply didn't happen.
30% fall anyone?
My money is on a 10% fall the this year, 15% next year and a 10% fall in 2012 ... levelling off as the next election looms large in the mirrors.
#1757
Scooby Regular
Seems the House Prices are now falling back again and the pace of fall is picking up.
Auction houses are empty - reserves not being met.
Many more properties on the market than during the last fall.
This is the start of the real correction many predicted in 2008, when it simply didn't happen.
30% fall anyone?
My money is on a 10% fall the this year, 15% next year and a 10% fall in 2012 ... levelling off as the next election looms large in the mirrors.
Auction houses are empty - reserves not being met.
Many more properties on the market than during the last fall.
This is the start of the real correction many predicted in 2008, when it simply didn't happen.
30% fall anyone?
My money is on a 10% fall the this year, 15% next year and a 10% fall in 2012 ... levelling off as the next election looms large in the mirrors.
#1758
Most sales that complete now are either forced, or sold at asking price. Pete - Can you quote me this months land registry stats? (Land registry stats are real completion prices) and when you have done that, can you quote me the land registry stats stripping out the forced sales (I.E. repossesions?)
#1759
Wimpey in the news this week saying they are seeing strong sales ,and also selling at 10% ish more than last years were selling at .!!!!!
I think the Interest Rates were held at .5% again today !!!!!
Is your cup half full fellas ??????
I think the Interest Rates were held at .5% again today !!!!!
Is your cup half full fellas ??????
#1760
Scooby Regular
A HouseBuilder saying that Houses are selling like HotCakes? Shocking News!
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
#1761
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A HouseBuilder saying that Houses are selling like HotCakes? Shocking News!
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
A fair few are selling before the foundations are even in!
With another site starting for a 3rd builder, we are busier now then 5 years ago in the housing market! In total we have 8 sites for house builders and another 2 that are leisure parks that have £130k log cabins for sale.
Taylor Wimpey know a lot more than some on here.
I see countless 'expert' opinions on snet, when the reality is no one really knows what will happen until it happens. Some people including experts from the goverment/previous goverments and indeed people on snet like to make big predictions in order to make themselves look knowledgeable in the event it comes true.
Aaron
#1762
Scooby Regular
Errrm, excuse me .......
I am the oracle, the voice of reason, the be all and end all ..... everything I say is true and correct.
I deal in facts not fantasy ...
I am the oracle, the voice of reason, the be all and end all ..... everything I say is true and correct.
I deal in facts not fantasy ...
#1765
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A HouseBuilder saying that Houses are selling like HotCakes? Shocking News!
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
My Subaru dealer said that they were selling the WRX HatchBack well and no discounts were on offer ..... 3 weeks later they were selling for £14k!!!
So, you will fogive me for ignoring the vested interests and instead, believing what my own eyes are seeing
#1766
Two housebuilders that we work for are selling houses like......well hotcakes
A fair few are selling before the foundations are even in!
With another site starting for a 3rd builder, we are busier now then 5 years ago in the housing market! In total we have 8 sites for house builders and another 2 that are leisure parks that have £130k log cabins for sale.
Taylor Wimpey know a lot more than some on here.
I see countless 'expert' opinions on snet, when the reality is no one really knows what will happen until it happens. Some people including experts from the goverment/previous goverments and indeed people on snet like to make big predictions in order to make themselves look knowledgeable in the event it comes true.
Aaron
A fair few are selling before the foundations are even in!
With another site starting for a 3rd builder, we are busier now then 5 years ago in the housing market! In total we have 8 sites for house builders and another 2 that are leisure parks that have £130k log cabins for sale.
Taylor Wimpey know a lot more than some on here.
I see countless 'expert' opinions on snet, when the reality is no one really knows what will happen until it happens. Some people including experts from the goverment/previous goverments and indeed people on snet like to make big predictions in order to make themselves look knowledgeable in the event it comes true.
Aaron
Confirmed .
#1768
Scooby Regular
Two housebuilders that we work for are selling houses like......well hotcakes
A fair few are selling before the foundations are even in!
With another site starting for a 3rd builder, we are busier now then 5 years ago in the housing market! In total we have 8 sites for house builders and another 2 that are leisure parks that have £130k log cabins for sale.
Taylor Wimpey know a lot more than some on here.
I see countless 'expert' opinions on snet, when the reality is no one really knows what will happen until it happens. Some people including experts from the goverment/previous goverments and indeed people on snet like to make big predictions in order to make themselves look knowledgeable in the event it comes true.
Aaron
A fair few are selling before the foundations are even in!
With another site starting for a 3rd builder, we are busier now then 5 years ago in the housing market! In total we have 8 sites for house builders and another 2 that are leisure parks that have £130k log cabins for sale.
Taylor Wimpey know a lot more than some on here.
I see countless 'expert' opinions on snet, when the reality is no one really knows what will happen until it happens. Some people including experts from the goverment/previous goverments and indeed people on snet like to make big predictions in order to make themselves look knowledgeable in the event it comes true.
Aaron
Even if they are selling like hotcakes as you claim, that's not something we want back. Look at the problems it caused in the first place! There was a bit of an attempt to keep things propped up to avoid the pain, but that will come to an end eventually. People are just trying to delay the inevitable.
Taylor Wimpey don't know anything. They know how to build houses, that's it. They lost £19.5 million in 2007, almost £2 billion! in 2008, and £700 million in 2009... after 'quantitative easing'. Their share price is now less than 10% of what it was trading at before the crash; so they're not exactly economic oracles.
#1769
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