No.

But I do plan on trying gazzundering out.

 

Well....Tony,

I have only sold a couple of houses in my time,but the logistics of selling a house,moving everything and getting into your new homw is a nightmare.. They say its the most stressfull thing you can do in your life,and i can certainly agree.

The addition of the buyer trying to drop the agreed price on the 11th hour is disgracefull. It can easily break the chain,and in the process cost a lot of people £1000's of pounds in fee's and charges.

You may be moving to a different area and you have a job waiting for you and kids to put in school,there are 1000's of factors that need to be taken into consideration.

Just find a property your happy with,negoiate a deal and stick with it..

Taking advantage of people at such a stressfull time is a horrible thing to do.I couldnt condone it.

 

Agreed. My choice now would be to sell up and rent. Then find another place when the dust has settled. Minimise the stress and increase the chances of successful transaction. Means moving twice tho but probably worth it, especially if moving area.

 

Events have taken a turn recently ..... there is a chance that cash in the Banks will not be safe.

Spain has been downgraded, Greece is going to default ... Portugal, Ireland and Spain won't be far behind.

Once the rich have fleeced the EuroZone, they will turn their guns to the UK and the £ ... then we shall see the trouble we are in ... our Banks will go to the wall and there isn't enough money to compenstate everyone!

Cash is as safe in Houses as anywhere at the moment! OK, house prices will drop 50% - but that's better than losing 100% of your savings.

 

The pound is loosing value all the time even against the bad euro so it maybe not so safe and as for 50% drop You have been saying it for years and I will tell you again that it will never happen!!

The only way people will be forced to sell lower is if they are repossed. Houses are still selling and Persimmon Homes is selling just as many if not more now than say two years ago. I said about three years ago if you were wanting a bargain you had to buy then.

The worl economy is in such a bad state that the only way houses would come on the market cheap was if we saw 14% interest rates and that will never happen as the country will be ruined with countless bankrupcy claims etc etc.

 

I agree with you that House Prices have a floor .... this floor is the price BTL Landlords will pay to receive a minimum 7% Yield.

Also, you are right - Interest Rates are one of the biggest deciding factors ....... second only to a lack of buyers!

And, I believe, we are entering a period where buyers are just going to disappear into the mists of time ....... true, most non forced sellers will just not sell.

But, we still have the three 'D's ... Debt, death and Divorce ... these will continue to bring properties to the market - no buyers means low prices.... and this is where I think big drops will be seen.

 

I hate to agree with Pete,but its true..

Not sure about 50%,but many houses at 30% of initial selling prices are still up for sale..

There are no buyers at the base of the market at the moment,FTB are more or less non existant..So things above are not selling as the chain cannot be achieved.

Young couples cannot save up £10k-£20k to get onto the market so there just staying put.Just to live without a mortgage is so expensive in the UK that they have no chance of saving money..

Interest rate is still being kept artificially low,the current rate is unprecidented....So as soon as any return to normality is seen expect the % to climb....

The 3 D's will drive a small % of sales,but not enough to create any uplift in the market.

We are fooked for years to come..........get used to it..

 

New homes are selling as they discount them down, older homes or ones that people are living in don't as they REFUSE to believe thier home is worth less than what they paid for!

New homes can still be bought with a 5% deposit older homes can't.

 

Hmmm..

Barrett are still trying to sell off "premium" 4 bed detached on an estate about 5 miles from me...Must be 4 years now since built.

They were £320k....Now £250k...

I wouldnt give that for em to be honest..4 bedroom house on a 2 bed terraced plot,some people must be mad,blind or both...

Suppose if you need rooms instead of area then they fit the bill...A real house with 4 bedrooms would at least be 100k more expensive in the same area.

 

Persimmon have redesigned all the sites and plots where say a 5 bedroomed house was, is now two plots of 3 bedroomed 3 storey terraced houses. Most sites are now small houses where as 4 years ago they were 5 bedroomed and above.

 

Persimmon dont do much near me i dont think..

Any links to any houses built by them ?

 

Actually,i have just been on there site and found a development around 6 miles from me....

3 bedroom houses with 14x12ft lounge and master bedroom.....6ft square 3rd bedroom and 6ft bathroom ?? No thanks,thats 2 up 2 down sizes..

 

They're sh*te. Like hen huts. They're always crammed together so each house is about a path and a fence's width away from the other. Who wants to live in an estate like that? Must be able to hear the neighbours sh*gging at night?

 

Its obvious on a new house if you don't pay much the size is small, I'm just saying house builders have redisigned all the sites to allow for smaller homes whereas the rest can't so there is no way they can drop thier prices.

 

The thing is,that they arent cheap...Thats my point..

£179k which is what they want for a for a 3 bedroom in a not so nice location will buy you a better 2 bedroom house with a bigger footprint in a better area...

New home builders are just trying to kid people...3 bedrooms,en suites,through lounges blah blah blah...It doesnt kid me!!

 

If new builds were in a good area they would be top dollar but thats just how it is. If some one needs a 3bedroomed house its of no use to them buying a 2 bedroomed house that occupys the same floor space. Also new house are warmer and you don't have any other spend where asif you buy an old house you could spend an extra £20k without blinking.

 

On the local news tonight (Granada) it said house sales in a town down the road (Bury) were up 44% .Selling no problem at all !!!!
Game On !!

 

Which sounds great until you also read that the figure is still 42% down on sales a decade ago..

I mean....Who wants to live in Bury ?? Its not a place you would aspire too.I would have thought there is rows and rows of sub 50k terraces and flats that have been sold.

@steve...

People always "need" a bigger house...Its a load of tosh.My parents brought up me and my 3 siblings in a 3 bedroom house.My next door neighbours had 5 kids.

Nowadays its all about front....Look at my house,look at my car,look at my designer labels and designer dog...Unfortunatly the look at my debt never get mentioned. Thats why were in such a mess..

 

Well someone does if property is selling there .If its not your cup of tea ,try 1 mile up the road on Ringley rd .Palatial properties which may be more your thing !!

 

Whitefield???

You gotta be joking aint you....I woulnt give Bury money to live there..

Quite why people would give good money to love in a ****hole sandwiched between Bury,Bolton and Salford is way beyond me...

Suppose its great if you like getting stuck in traffic for an hour twice a day at Simister island..

Honestly....Some people....

 

Bury near Ramsey is a nice place tho, but a bit pricey FPMSL

 

You will probably find the people who live on Ringley rd dont do the 9-5 grind ,so probably dont worry about a bit of traffic .
You must live somewhere real special then ??

 

You can buy a 4 bedroom house on Ringley road for under £300k.....Not exactly the lap of luxury and never having to work again bracket is it ??

http://www.rightmove.co.uk/property-...p&fromMap=true

Granted there are some bigger properties at extortionate money but owning a million quid house in the middle of a scruffy suburb doesnt neccasarily say you dont have to work..

Me...I live in a small village in Derbyshire,but used to live in a Manchester suburb..
Is where i live now special ???? Yes.
Is it expensive to live here ???? No.

 

Well folks whats 2012 going to bring .??

Mortgages now the cheapest they have been in 8 yrs by all accounts.
95% mortgages now back on the menu !!
Interest rates to remain low for a possible 3 yrs !!
Can only mean one thing .!!
Ho Ho Ho !!

 

+ Unemployment rising

+ Wages frozen

+ Inflation relatively high

Good to see you have a balanced view of the market

 

You just don't know how to get rich.

By a house. Sit and wait = wealth is yours.

You wonder why people bothered with the industrial revolution and the like. They should have just built a shack and waited to get stuff. As long as the population is rising, there's more demand for housing and everyone gets wealthier.

 

2012 will be the same as 2011,but worse...

As anyone noticed that rental prices seem to be going down too ???

I dont know why that should be..

 

Can't say that I have, quite the opposite in fact.

 

Things are getting sold within hours on the South Coast around Christchurch - things have switched around.

 

Nicked from another website;

In 1997, according to the Office of National Statistics, the national average wage was £16,666.
According to the Nationwide Building Society the Average House price in 1997 was £55k.
£16,666/£55,000 = 3.3x INDIVIDUAL salary [mortgage]
********************************
The Average First Timer Buyer mortgage multiple in 1997 was just £41.5k [Council Mortgage Lenders]
And the Average FTB mortgage multiple in 1997 was in a range of 2.3x - 2.5x salary. [Firstrung]

************************************************

By 2007, at the peak of the boom [according to the Office of National Statistics] the national average wage had risen to £23.5k
The Average House Price in 2007 was £185k. [Nationwide Figures. Halifax had estimated AHP higher than £185k]
£185,000/£23.5k = 7.8x INDIVIDUAL salary [mortgage]
************************************************

2011 Average House Price £166,764 [Nationwide]
2011 Average Wage £25k
£166,764/£25k = £6.6x INDIVIDUAL salary [mortgage]
*******************************************

So houses still way overpriced.

If the ratings agencies keep downgrading the banks like they are it's gonna cost a fortune for any mortgage!

So 2012 looks like further falls, can't see the housing market recovering for 10 years the way things are going.