£6,000 off the average house value in a MONTH!
Discussion
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fesuvious said:
It'll be a rocky 6 months now, but those expecting a CRASH in property values will be sorely disappointed.
On the other hand with property just not selling atm and now this disastrous announcement in October, those who have to sell anytime before Easter may well feel forced to make large panic reductions in asking prices/offers considered. Leading to a snowball effect.Muzzer said:
Soovy said:
It's started.
Last week, they were reporting a boom in prices in London....
It's a tough market but I remain to be convinced that it'll crash.
fesuvious said:
rhinochopig said:
Nevermind, perhaps I'll just have to live in my house rather than see it as a potential theoretical profit. 
edited for accuracy - hope you don't mind old chap
fesuvious said:
No, nothing to be scared of.
It has been a mini boom this summer, the downside was always going to be fairly severe as it would always come immediately prior to the spending review - of which the public are scared.
It'll be a rocky 6 months now, but those expecting a CRASH in property values will be sorely disappointed.
Are you David Lereah?It has been a mini boom this summer, the downside was always going to be fairly severe as it would always come immediately prior to the spending review - of which the public are scared.
It'll be a rocky 6 months now, but those expecting a CRASH in property values will be sorely disappointed.
fesuvious said:
richardxjr said:
fesuvious said:
It'll be a rocky 6 months now, but those expecting a CRASH in property values will be sorely disappointed.
On the other hand with property just not selling atm and now this disastrous announcement in October, those who have to sell anytime before Easter may well feel forced to make large panic reductions in asking prices/offers considered. Leading to a snowball effect.Are these figures final selling prices?
If so, these houses would have been sold back in June/July/August as it takes many weeks/months to complete etc.
When cuts really hit, it will be 2/3 months after before we can gauge the impact on the housing market.
EA told me that many chains are falling through as there's no-one on the 1st rung as they're all priced out.
The correction will happen, it will be significant IMO. And rightly so.
If so, these houses would have been sold back in June/July/August as it takes many weeks/months to complete etc.
When cuts really hit, it will be 2/3 months after before we can gauge the impact on the housing market.
EA told me that many chains are falling through as there's no-one on the 1st rung as they're all priced out.
The correction will happen, it will be significant IMO. And rightly so.
For thoese getting all excited about being able to buy a whole street in london for a fiver, can I just point out the house prices are still up on the start of the year and higher then they were last september as well as sept 2008, and not that far off what they were before the last "crash". Even if there is a fall for the next few months (lead up to xmas is alway a slow time) 12/18months from now they will more then likley be higher again.
That said, as I have no intention of selling for the next few years, and have over 75% equity in my home, I pretty well placed to be "wrong"
That said, as I have no intention of selling for the next few years, and have over 75% equity in my home, I pretty well placed to be "wrong"
Dracoro said:
Are these figures final selling prices?
If so, these houses would have been sold back in June/July/August as it takes many weeks/months to complete etc.
When cuts really hit, it will be 2/3 months after before we can gauge the impact on the housing market.
EA told me that many chains are falling through as there's no-one on the 1st rung as they're all priced out.
The correction will happen, it will be significant IMO. And rightly so.
http://www.lloydsbankinggroup.com/media/word/HPI/Methodologyfromweb130809.docIf so, these houses would have been sold back in June/July/August as it takes many weeks/months to complete etc.
When cuts really hit, it will be 2/3 months after before we can gauge the impact on the housing market.
EA told me that many chains are falling through as there's no-one on the 1st rung as they're all priced out.
The correction will happen, it will be significant IMO. And rightly so.
http://www.lloydsbankinggroup.com/media/word/HPI/1...
KrazyIvan said:
For thoese getting all excited about being able to buy a whole street in london for a fiver, can I just point out the house prices are still up on the start of the year and higher then they were last september as well as sept 2008, and not that far off what they were before the last "crash".
Yep, it's amazing what billions of QE and near-zero interest rates can do.We've had in the region of 10% inflation (maybe more) since 2008 so in real terms ..
Actually, i'm just excited about the prospect of upgrading my 3-bed to a 4-bed for a more realistic sum i.e. less than £200k.
Dracoro said:
EA told me that many chains are falling through as there's no-one on the 1st rung as they're all priced out.
The correction will happen, it will be significant IMO. And rightly so.
Funny the ones round my way are all boating about how many house they have sold, and are one again posting leaflets through doors looking for moreThe correction will happen, it will be significant IMO. And rightly so.
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