Hanslow

http://news.bbc.co.uk/1/hi/business/...ey/4261082.stm

Or just fiddling the stats?

I'm not really fussed either way, we've recently bought and moved into our new home and we're happy there which is what counts for me

davegtt

Great, another housing thread that PSL can spam his life long rubbish about

unclebuck

Wait till your over priced property gets re-banded for Coucil Tax purposes. That'll wipe the smile off your face.

Patt@firstime

What he said - I'm about to move into a new house with the g/f and can't wait

It only matters to me what the house is worth when I come to sell it

Reality

Sales up because prices are dropping.


Sounds like a "sale" rather than an "upturn" .

TopBanana

The last crash saw reports of a repeated reports of a recovery 'just around the corner'.

OllyK

Well as a guide, we were looking at this this time last year. We had an offer accepted on it for £145K, but we didn't mange to sell ours in time. It's back on the market now and the asking price has gone up a touch. The house next door to it has just sold as well.

Hanslow

Fortunately we've not overborrowed so should be able to cope. Annoying as it may be, there's not a lot we can do about it if they reband us I'll just get the missus to pay more

TopBanana

Hmm, the report says sales are up 8% in August over February. Two things:
1. August is 10.7% longer than February
2. People are more inclined to move house in the summer

TruthHurts

Anyone that believes the market is healthy- care to explain why prices are still dropping across the board?

Merely anecdotal I know but I recently re-bought a SE property I sold in late 2003@190K for 145K at auction. If a 45K reduction isn't early evidence of a crash what is?

TopBanana

It's going to be CARNAGE!

davegtt

thats an auction and the SE..... Take a look at OllyK's post, big difference in asking price, so its still rising in areas. I live 30miles from Nottingham and definately seen a slight creeping increase for this area if not definately no drop what so ever. no sign of it dropping either.... Not saying it wont in time but I dont think the time is quite right just yet for a "crash" to happen

+Doc+

No reductions in price around here, I truely believe it depends where you are, supply and demand.

OllyK

Prices are increasing to static round my way, certainly not on the way down

Hanslow

I wonder if the housing market majorly crashed and they went ahead with council tax rebanding would the council tax go down......I very much doubt it

Sounds to me like the banks and EAs are trying to keep the market buoyant to keep their livelihoods as they are (which I can understand). I know it could happen, but we'd need to lose a third of the value of our house to be near negative equity. I know this is probably financial stupidity but as long as we can pay the mortgage we don't mind because it's the house we want to be in for a good few years now as we love the area

Our old house in Toton (between Chilwell and Long Eaton on outskirts of Notts) sold within a week of us putting it on the market at the higher valuation price and went for the full asking price. We were quite surprised given the market reports at the time (it wen't on in mid June this year).

lightning101

Prices have risen 45% in two years beside me and continue to rise.

davegtt

thats 3 people from Nottinghamshire/Derbyshire/Lincolnshire all claiming static or at least creeping increases.

IMO Were seeing some sort of leveling out, SE has become so expensive people are starting to move north of London now and commuting from up here hence pushing our prices and pulling SE prices..... think the country is just trying to regain some balence now.

TruthHurts

As you may/may not know the 'property boom' happened in the SE and London first, then rippled out to the provinces. Then we had a period of stagnation with the market fairly static and showing only inflationary rises at best. Now we have a situation where prices are 20-30K less than they were at their peak.
Now reverse the effect and your houses in the midlands/wherever/nowheresville are heading for a drop.

OllyK

Us too - paid a paultry £116K for a detached 3 bed in a small Derbyshire town last december. One 2 doors down just went for £125 a couple of months back (June).

It's an old mining town that is starting to get tidied up which is good for the area and house prices. Fingers crossed we got in at the right time.

OllyK

Have a look at http://www.nethouseprices.com and you can see the prices that houses actually sold for. Quite a handy indicator of what is happening in your area rather than going on asking prices.

davegtt

lol.. fine we might see a drop. but knock 20k off your SE overpriced (always has been) houses and whats that as a percentage? then take the percentage off our "nowheresville" (where Id rather be) and we still have a VERY healthy profit on property over the last 2-3-4 years

OllyK

Maybe - but you can still get a 2 bed terrace for less than £80K round these parts, not sure it will go much lower, bloody Londoners will be buying them up for investments with spare pocket change soon.

TopBanana

davegtt, there hasn't been a mass migration out of the south-east, it's just that the south-east market leads the rest of the market by a considerable chunk of time.

unclebuck

Course it won't. It's all part of the plan - Re-band just when prices peak to gain the maximum tax income, then rake in the cash as prices plummet and the recession takes hold.

You gotta hand it to New Labour they really know how to shaft a population.

davegtt

not saying people have moved from the area. Just maybe less Londoners are moving there now and more are moving North where prices are more sensible.

TopBanana

Not changing area but moving north? Hmm

TruthHurts

A profit purely on paper as you'll never realise it. The crash is going to be felt much harder in the sticks as well as very few of you seem to have any real money and subsist on poverty level wages.
Doesn't take a genius to look at history and learn from it, however it does take someone with the ability to THINK. Try it sometime you might like it.

TopBanana

Guess what happens next...

davegtt

Christ, OK, profit was the wrong word.... get you, I live in the city and make big money, you dont so your screwed Look matey, I dont give 2 hoots, its gonna take 1 hell of a crash for my house to fall into negative equity. I have a differing opinion too you about somethings, does that make my ability to think, poor? I think not. I think yourjust trying to put the sh!tters up everyone just like PSL tried to do years ago and failed.

TruthHurts

I don't live in 'the city', I have however made a few quid out of property.
I'm not talking about the case of some sap who lives in a house he bought and sits there adding up what they've 'made' or 'saved'.
I'm looking at the market as a whole, the big picture, geddit yet?
Just sitting back dispassionately and examining the evidence makes me believe that we are at the peak of the market, across the UK as a whole and that there is no chance of massive increases as we've seen over the last 8 yrs or so. At best we will have stagnation followed by price corrections.
What makes your ability to think poor is that you are only looking at a very small part of the equation ie the housing market in some god forsaken hole where the people are months if not years behind those of us who live in the real world.
Some free advice for you:- get out more and try reading more widely.