zambezi15

Worries me too. In May we left our house 'empty not let' in the UK which was valued at GBP255000. We had the property redecorated for a 'quick sale' . What a waste, as every month we reduced the price and now the price is right down to 185000 thats GBP45000 less then what we paid for it...and agent reverts ' no viewers' . 4 beds, 2 and half bath, decent size study, utility room, garage, extended reception rooms etc etc..close to shops, transport. Its concerning that a small Island with a huge population has no buyers, yet, here in W A the properties offering far less cost much more than the Uk and get sold. Mind you the estate Agents here do work the properties.

freebo

Some people (like me) believe that Australian property prices in major cities like Perth are due a fall, but many others don't.

I can't offer any positive predictions for the UK property market in the short to medium term, other than to say the UK market is ahead of the Australian one and that I think similar events are headed this way. Its just my opinion and every boom/bubble has had the majority saying "its different here", thats whats being said in Australia at the moment.

As for the exchange rate, no-one knows what will happen next, but the Aud does seem very highly valued right now (some say overvalued), but may not stay that way for ever.

Alfresco

Is it rented out now?

zambezi15

Technically it should follow suit, but WA is a difficult one with all the mining in the region. The Mining Companies avoidance of developing residential area's for their staff and importing staff due to manpower shortages and selecting the FIFO option keeps the housing demand high. Who knows. The British economy is also in a sad sad state.

zambezi15

nope...been warned that the chance of defaulting tenants has increased in the last year and can take months legally to get them out. (UK law favours poor unpaying tenant..else govt has to house them once homeless so bugger landlord) , that and redecorating after they vacate. Betwixt and Between

freebo

The British (european) economy is indeed in a sad, sad state, although the govt is doinf the right thing in my opinion. The US economy is also in a sad, sad state, maybe even worse.

The Chinese economy depends on exporting to the USA and the Europe, and are the biggest buyers of Australian raw materials, you can join the dots from there.

Alfresco

So you're servicing the mortgage from Oz with no tenants in?
What if squatters seize the place, then you'll never get them out.

Is it at least secure?

pomtastic

Uk house prices down another 1% or so for September. UK mortgage approvals down 80% for the month - 80%!!!!!!!!!

Tell me, where is the next house price growth going to come from for Perth? It ain't going to be from the Poms, that's for sure.

I'm just sitting, watching and looking at all the $750K+ houses piling up North of River Perth unsold. The outer suburbs are rotting here and the cancer is spreading inwards.

Advice to anyone looking to buy a house in Perth (although I wouldn't touch the market until 2015) - put in a low offer, at least 10% below asking price, more for the exxie suburbs, less for the cheapos, nothing is moving and Real Estate Agents are shitting themselves.

Even the main stream media is now getting the idea that rental yields are shite. There is no 'under supply' in Perth, just an over supply of investors who have now seemed to have evaporated! LOL!!!

http://www.watoday.com.au/wa-news/ar...029-176h5.html

Margaret3

Not that we had lots of dosh to bring.... but we got $2.47 to the pound in 2007

Loch Lomond

We just sold our house, got the price we wanted and sold in 22 days. Still a good market if you are realistic in what you can achieve. The houses not selling belong to the "real estate experts" who know that their house is worth more than "yours".

Perthine

Agree. There are plenty of houses around, unsold for a long time. Time to wake up and realise that people are not paying every price anymore, the boom is over . Also most of the houses could probably do better with some good quality and contemporary renovation.

concretepump

most of the reason houses are not selling in uk, is banks not lending mortgages
when they are offering 80% mortgages only, until they put that up to at least 95% we are going to stay as we are, and if any thing go backwards
my house as been on for eight months still not sold so we are in if only
we want to move on with our lives as much as the next person, and its got nothing to do with houses beening over priced not when you drop £60,000 plus
now its just a waiting game but if many more people lose there jobs it will have a knock on effect, then were all be bust
what will the gov do then tax us even more???????????????????????

zambezi15

If a Country's Government or Policing system cant protect its own Citizens against illegal occupants, then it my opinion its only fair and Just to break into one's own house and squat , if necessary have hired ' persuaders' to accompany one. Quicker and cheaper then extended legal fees . Remember , the U.K. offers Criminals free legal aid but not the victims.
The amazing thing about the system in Europe is the 'poor' tax payer who actual funds the system is the one who has the raw deal. As someone pointed out governments use tax payers funding to donate billions and billions to third world countries, but are wondering how to balance the budget in their own Countries. Resorting to cutting corners and extending retirement ages to bolster taxable income. Pensions once a reward for one's labours are now considered a luxury as what use is a retired tax payer to the system.

zambezi15

SO TRUE...we are well well below what they gave as market value in fact thats history, we have now reduced our price so much its offered at less then 80% of what we purchased it for 5 years ago.
London area's though are still moving, demand is there.: wish Country towns were as lucky.fingerscrossed:

eugene43

BUT it is very regional -we are looking to buy now (don't really like the money sat in the bank unprotected)- we are cash buyers and have put in offers for 4 houses in the last 2 months and not got any of them - they have all gone over the asking price.

To all those trying to sell good luck and don't take much notice of the headlines they'll only depress you - things ARE selling just taking a little longer.[/QUOTE]

I have just brought a 2 bed onsweet flat in uk as an investment plus houses are selling no problem in my area.