House Prices Now At 2004 Levels
Nothing was selling in my area for ages either, and then spring came along and everything started selling.
Lots of people in my area work in the financial industry, so it's probably slightly helped the market where I am.
Lots of people in my area work in the financial industry, so it's probably slightly helped the market where I am.
Btw I say the above as a long term member of housepricecrash.co.uk - I joined there in may 2005 after a long time lurking 
Sadly it didn't pan out the way I hoped, and I believe it's screwed my generation over completely, especially the low interest rate bailout of over leveraged mortgagees
Maybe we bought too soon, but on the other hand the government seems he'll bent on propping the housing market up AT ANY COST, so I'm hoping we wont do too badly out of buying.
Sadly it didn't pan out the way I hoped, and I believe it's screwed my generation over completely, especially the low interest rate bailout of over leveraged mortgagees Maybe we bought too soon, but on the other hand the government seems he'll bent on propping the housing market up AT ANY COST, so I'm hoping we wont do too badly out of buying.
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Henrik, after renting for nearly five years I bought again a month ago and am very happy with the decision although I know I'm potentially exposed to further drops (although by buying when I did and cashing in all my equities I got out at a good time). Scotland housing is 3.3x average income for full time worker now. Decision was based on the very factors you mention, a least of all evils option.
B&Q are doing well out of me, a trip for a few things each week is eye watering at the till. I can well see how a thriving housing market would drive the economy.
B&Q are doing well out of me, a trip for a few things each week is eye watering at the till. I can well see how a thriving housing market would drive the economy.
Henrik, after renting for nearly five years I bought again a month ago and am very happy with the decision although I know I'm potentially exposed to further drops (although by buying when I did and cashing in all my equities I got out at a good time). Scotland housing is 3.3x average income for full time worker now. Decision was based on the very factors you mention, a least of all evils option.
B&Q are doing well out of me, a trip for a few things each week is eye watering at the till. I can well see how a thriving housing market would drive the economy.
B&Q are doing well out of me, a trip for a few things each week is eye watering at the till. I can well see how a thriving housing market would drive the economy.
The 3.3 average is interesting. I wonder what it's like for London? I'd love to see the distribution of salaries for e.g. central london jobs - I'm guessing there will be a large number of people on 50-60k+, which could at least in theory support house prices at the level they are here if they had a decent deposit.
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Northern, Yorks & H, North West, East Mids, West Mids, East Anglia, Outer SE, Outer Met, London, South West, Wales, Scotland, N Ireland, UK
3.0, 3.5, 3.6, 3.7, 4.0, 4.4, 4.7, 5.0, 6.5, 5.1, 4.0, 3.3, 3.7, 4.4
3.0, 3.5, 3.6, 3.7, 4.0, 4.4, 4.7, 5.0, 6.5, 5.1, 4.0, 3.3, 3.7, 4.4
Last edited by john banks; Aug 31, 2011 at 11:28 PM.
Interesting stats JB...
How are they worked out ?
Average house v Average wage for any given area?
If that is correct,then i would say its still way out.. Average houses in my area (High peak) are approx £150-£160k... 40k a year in this area would be a great wage,there is nothing "average" about that salary.
What is the average house/wage stats at the moment ?
How are they worked out ?
Average house v Average wage for any given area?
If that is correct,then i would say its still way out.. Average houses in my area (High peak) are approx £150-£160k... 40k a year in this area would be a great wage,there is nothing "average" about that salary.
What is the average house/wage stats at the moment ?
... or is it actually the price/average wage of those who *did* buy, in which case it's totally bonkers?
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I'm out in the 'burbs (Bromley / petts wood area), but the house set us back 300k. On for 325 originally and sold within a week on the market. A big reason the seller accepted a low offer was that we were first time buyers with a mortgage etc in place.
There were six houses up for sale in the same road around may time, and all of them have sold (we viewed three of them). I realise that sold subject to contract sometimes falls through, and one of those houses did, but it's since been SSTC again.
There were six houses up for sale in the same road around may time, and all of them have sold (we viewed three of them). I realise that sold subject to contract sometimes falls through, and one of those houses did, but it's since been SSTC again.
Back to House Prices ...... I read somewhere that the current selling price is 92% of the asking price.
To those who have bought recently, is this the general view - 8% OFF when the sale is agreed?
I assume from this that the buyer starts at around 10 - 15% OFF as an offer? Settling, finally, at 8%?
To those selling .... would an offer of 92% of your asking price tempt you? Especially if the buyer could proceed without a chain.
To those who have bought recently, is this the general view - 8% OFF when the sale is agreed?
I assume from this that the buyer starts at around 10 - 15% OFF as an offer? Settling, finally, at 8%?
To those selling .... would an offer of 92% of your asking price tempt you? Especially if the buyer could proceed without a chain.
Last December completed on a flat in Ramsey at 11.5% under the asking
Cash in hand and no chain works wonders
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From: Old Codgers Home
Interesting post above showing that >10% OFF is achievable for serious buyers and sellers.
However, the average asking price is now £231,543 – a distance removed from selling prices reported by the Land Registry, Nationwide and Halifax, all quoting in the region of £164,000.
How can this be the case? Either properties have to be discounted heavily to sell (and it's a big secret being kept very quiet for fear of upsetting the market) - or there is something else going on? Confused.
However, the average asking price is now £231,543 – a distance removed from selling prices reported by the Land Registry, Nationwide and Halifax, all quoting in the region of £164,000.
How can this be the case? Either properties have to be discounted heavily to sell (and it's a big secret being kept very quiet for fear of upsetting the market) - or there is something else going on? Confused.
Called yesterday by 2 estate agents
One to tell me that a new prospect in Wisbech was already making noises to accept near 20% off the asking in the light of the time of year and the recent stock market crash (knew I had spent my money too early)
The other to inform me that a flat I saw recently in Peterborough was going UP by 10% even tho it had not sold thru the summer months. The second such decision I have seen this year. The other property is still unsold obviously LOL
So I am also confused, but happy with my pension plan purchases
One to tell me that a new prospect in Wisbech was already making noises to accept near 20% off the asking in the light of the time of year and the recent stock market crash (knew I had spent my money too early)
The other to inform me that a flat I saw recently in Peterborough was going UP by 10% even tho it had not sold thru the summer months. The second such decision I have seen this year. The other property is still unsold obviously LOL
So I am also confused, but happy with my pension plan purchases
Last edited by his-n-her-scoobs; Sep 24, 2011 at 08:25 AM.
house price vs wages average 3.3 well in devon thats nads
in 1997 i bought a 3bed end terrace £49950 and was earning 9K thats 5.5
sold in june 2008 £149950 . now own 4bed detached bungalow iro £290k earning £30k thats 9.8 times salary luckily only have £50k mortage . i would love to know where the averages come from . any 1st time buyer now in north devon is screwed big time
in 1997 i bought a 3bed end terrace £49950 and was earning 9K thats 5.5
sold in june 2008 £149950 . now own 4bed detached bungalow iro £290k earning £30k thats 9.8 times salary luckily only have £50k mortage . i would love to know where the averages come from . any 1st time buyer now in north devon is screwed big time
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Here's an alarming article about the effect the liberalisation of planning laws might have. It prophesies that in green belt land some houses might lose 1/3 of their value.
Speaking of house prices, you can't get a decent 3 bed semi - in some cases a 2 bed cottage or terrace - around my way for less than £250k. This is what I am aiming for personally.
Speaking of house prices, you can't get a decent 3 bed semi - in some cases a 2 bed cottage or terrace - around my way for less than £250k. This is what I am aiming for personally.
Last edited by tony de wonderful; Sep 24, 2011 at 11:43 AM.
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Are these victorian high-ceilinged terraces? Can't see why you'd want to live in one otherwise, but each to their own. I'm aiming for something detached and preferably in the country. Whether that's the first place I buy or not I don't know, but the rest will be temporary if not.
Here's an alarming article about the effect the liberalisation of planning laws might have. It prophesies that in green belt land some houses might lose 1/3 of their value.
Speaking of house prices, you can't get a decent 3 bed semi - in some cases a 2 bed cottage or terrace - around my way for less than £250k. This is what I am aiming for personally.
Speaking of house prices, you can't get a decent 3 bed semi - in some cases a 2 bed cottage or terrace - around my way for less than £250k. This is what I am aiming for personally.
That would have done you......
Last edited by fatscoobfella1; Sep 24, 2011 at 01:36 PM.
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Even with the prices down some cheeky buggers still want something for nought.
My daughter has a 2 up 2 down semi in Preston she put up for sale late spring for £80k. Fair to high price for area and condition. Accepted an almost immediate offer for £75k for quick completion and removed from market at purchasers request. Near 6 months later and having successfully stalled thru the selling season, not even doing a survey, the prospective purchasers have now offered........£42k.
Told my daughter to tell them to take a long walk off a short peer. Cheeky buggers. That is a disgraceful way to behave. Would give her more than that myself and save her the estate agent fees.
My daughter has a 2 up 2 down semi in Preston she put up for sale late spring for £80k. Fair to high price for area and condition. Accepted an almost immediate offer for £75k for quick completion and removed from market at purchasers request. Near 6 months later and having successfully stalled thru the selling season, not even doing a survey, the prospective purchasers have now offered........£42k.
Told my daughter to tell them to take a long walk off a short peer. Cheeky buggers. That is a disgraceful way to behave. Would give her more than that myself and save her the estate agent fees.
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Are these victorian high-ceilinged terraces? Can't see why you'd want to live in one otherwise, but each to their own. I'm aiming for something detached and preferably in the country. Whether that's the first place I buy or not I don't know, but the rest will be temporary if not.
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Even with the prices down some cheeky buggers still want something for nought.
My daughter has a 2 up 2 down semi in Preston she put up for sale late spring for £80k. Fair to high price for area and condition. Accepted an almost immediate offer for £75k for quick completion and removed from market at purchasers request. Near 6 months later and having successfully stalled thru the selling season, not even doing a survey, the prospective purchasers have now offered........£42k.
Told my daughter to tell them to take a long walk off a short peer. Cheeky buggers. That is a disgraceful way to behave. Would give her more than that myself and save her the estate agent fees.
My daughter has a 2 up 2 down semi in Preston she put up for sale late spring for £80k. Fair to high price for area and condition. Accepted an almost immediate offer for £75k for quick completion and removed from market at purchasers request. Near 6 months later and having successfully stalled thru the selling season, not even doing a survey, the prospective purchasers have now offered........£42k.
Told my daughter to tell them to take a long walk off a short peer. Cheeky buggers. That is a disgraceful way to behave. Would give her more than that myself and save her the estate agent fees.
It's disgraceful and indicates a buyers market.
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This is reasonably common .... it removes a property from the market, it allows the seller to get excited about the next purchase, the offer is then reduced by the buyer to try getting a bargain - knowing that there may be a chain above (who could share the drop in price) .... also knowing that a property is blighted if it reuturns to the market after having been 'Sold' !!
It's disgraceful and indicates a buyers market.
It's disgraceful and indicates a buyers market.
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From: Dull White BMW
Steve
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This is reasonably common .... it removes a property from the market, it allows the seller to get excited about the next purchase, the offer is then reduced by the buyer to try getting a bargain - knowing that there may be a chain above (who could share the drop in price) .... also knowing that a property is blighted if it reuturns to the market after having been 'Sold' !!
It's disgraceful and indicates a buyers market.
It's disgraceful and indicates a buyers market.
it is amazing how keeping it on the market and continuing taking viewings concentrates the mind of the buyer
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I think there is a steady tick over, have been watching the market around here for a while. Lots of the ones that have not been shifting are the new build stuff yeah....lot's of town houses.