they never did drop on the south coast here - too many old people coming to retire here

 

I cant believe that i agree with you.......to a certain extent..lol........

I think 30% from peak is feasible,but i think the timeline will be longer than a few years..

Thats what gypsy petrulengro told me anyway

 

dpb:-

Where on the coast would that be?

Old people die and houses become available in areas you mention

 

Sussex , you wouldnt like it

 

Never gonna happen, the only way properties will drop again is if people are forced to sell up, builders will just build less again. Thinking the property market should drop due to people struggling to get onto the property market doesn't mean it will happen.

 

Its actually in the paper again today that a Major house builder has sold 95% of their stock for this year !!!

Spoke to an estate agent on Monday who said they were selling about 40 properties per month at the moment and he was quite optimistic about future sales .

I had my place valued and it was up over 25% on what we paid for it 5 years ago .(being honest i have spent maybe 25K on it ).And no smartar55es its not now worth 100K .!!!

Yes there are scare stories about interest rate rises ,but the only way they can go is up ,its just a case of how much and when .It was said upto 8% by 2012 ,but i see this as scaremongering and there is no way the BoE would do this as it would send us into freefall .

So keep on investing in property folks and enjoy it while it keeps rising !!!!

 

The markets decide interest rates not the BoE.

A run on the £ would force the BoE to raise rates to defend Stirling. Suddenly house prices become a very secondary concern.

 

What's more worrying is that we have an economy which is dependant on house prices and ultra low interest rates. It's a farcical state of affairs, and as Flightman says, it will be the market that derails it. The BoE can do diddly squat except print money and debase its value in the process to pay off debts.

 

We have this obssesion with having to own your own property in this country - it doesnt appear to matter how much its worth or how much you pay for it , if youve a stake that is supposed to make you feel well off

I reckon the people are in fact so daft you could stick interest rates to 10 % and still theyd come

 

Figures published today show we are now the most crowded country in Europe .!!!!!!

Too many people ,not enough property .!!!!!!

 

Just spoken to an Estate Agent today.

He says, at least where we live, that the market is dire - it has got steadily worse since June ..... if it continues as it is now he sees the market being on its knees by Xmas.

But, still, the properties come to the market, a market with no buyers.

He says there is starting to be a panic amongst sellers who thought the worst was over that they have missed the boat - and this panic gets more sellers wanting to sell quick as everyone can see where it's going.

The Buy-To-Let Landlords are trying to get out now.

The writing is on the wall ..... the Estate Agent didn't say this (but I am) - 30% falls by next summer.

 

[The Buy-To-Let Landlords are trying to get out now.

On the contrary .Yields are up .Many a Landlord are now looking to buy and increase their Portfolios ,ready for the next surge .!!!!

 

Hmm...

Guess it depends who you talk too....

My friend has had 4 properties on buy to let mortgages. All terraced and getting £400-£450 PCM..

He has built them up since about 7yrs ago but is now trying to sell them all. His main problem is getting any steady long term tennents in them.. It seems to be a 6 month rented,then 6 months empty scenario..

Previously he has done well out of them,but the downturn seemed to be around 3 yrs ago,and he has had enough.

 

Not had any problems with any of my tenants, all have renewed with a rent increase this year and been happy to do so.

 

Suppose it depends on the area that you are in to a degree too..

If your area has a high % of "renters" than you will have more luck..

In this area,houses are predominantly owned so i guess there is less desire for people to rent..

 

Good luck with that.

 

Bit of a no brainer that really, maybe that wasn't the best place to buy BTL's, rather than a weak lettings market.

 

Yea guess so...

But where ya live is where you live i guess,and he just bought properties in the local area..

I dare say that good rental area's that may be closest would be Manchester or Sheffield,both around 15 miles away. I wouldnt like to own any rental properties in either

 

You shouldn't buy investment properties with a view to living there yourself, but what it can do for you.

15 miles is nothing, one of mine is 85 miles from my house, (long story)

 

Why is it 90% of your posts seem to be on this one topic, actually, this one thread?
https://www.scoobynet.com/search.php?searchid=3502857

 

Quoted striaght from the BBC website

 

What's being constructed? Factories to increase productive capacity, or shops and offices to provide goods and services to the consumer? Or perhaps just houses... another consumer good at the end of the day. The problem with GDP is that if you sell me £1 million worth of fresh air, it's counted as economic growth, but nothing has grown in the process.

 

I've placed my gaff on the market this morning. Here goes...

 

Lol.I knew someone would notice !!!!


I guess I have an opinion on the subject and a personal interest in it .I also cant be ar5ed these days to post on the other tittle tattle ,so there you go .Well spotted .!!!

 

Heard a report yesterday that 1 in 5 people will be in Private Sector rental property by 2020 .!!!!!
Reason enough ,im sure you will agree .

 

^^^^^^^^^^^

Now that sir is absolutely crap....

 

Do you have a link to that report?

 

My point is if your waiting for another massive drop in the property market its doubtful it will happen as the building side is improving and the economy is rising better than analysts thought.
Factories, shops and offices are still there just not enough jobs to keep them in full work Even if it is houses I think they need to build something like 5million houses to cope for the population over the next 20 years?

 

Soz ,no(to Cookstar) ,i am sure I heard it on the Tonight(ITV) programme last night ,but i came in half way through the programme .

Maybe someone else can confirm it ,if they saw the programme .

 

it was on Radio 5 - Wake up to Money this morning too

or at least a discussion regarding a report on the private rental sector - explaining why the yields are increasing in BTL