UK housing market
 

You expect it to be good? You're idiots, it is getting bad and will be a lot worse soon.

4-5 years of a poor housing market looms.

All the previous housing market bubbles have ended in the bubble bursting - why do you think this time will be different?

Re: UK housing market
 

Don

Do you think i should sell up now and rent till i go?

I wasnt planning on going till 2006 and thought it might brighten up again by then, now i am scared...........

laura
x

Re: UK housing market
 

What qualifies you to comment then Don?

Re: UK housing market
 

And who made you the expert on British Housing considering you live in Europe?

Dons usual words of encouragement?

Most people know the market is poor, we dont need it continually rammed down our throats.

Re: UK housing market
 

Re: UK housing market
 

surely if people keep saying house market will crash then people will stop buying and they will crash???? :confused:

So i am gonna start the rumour now that they are gonna rise again, so better get on the ladder now while you can peps!!!!!!!

Spread the word folks LOL :p

laura

Re: UK housing market
 

Forgive me, didn't want to be the messenger of doom or anything like that, just wanted to help everybody come to terms with the fact the happy days are over.

Actually, MADSAD, not sure too many people have come to terms with the current state of the UK housing mkt yet.

Re: UK housing market
 

Good idea laura i,ll start the rumour in work so hopefully half of manchester will be convinced by Friday LOL :D

Re: UK housing market
 

Yep, it's the self-fulfilling prophecy.... Now if the money lenders and solicitors pull their fingers out this week, I won't have any property to worry about losing money on!

Re: UK housing market
 

GO Dave!

See how long it takes before it reaches Teesside :p

Re: UK housing market
 

Its nearly November it always slows down hang on in there. I am with laura and dave people are just waiting to get Christmas over then it will all pick up again just a matter of time

Re: UK housing market
 

For when the effects of a $56 dollar barrel of oil kick in along with interest rate rises.

First time buyers are priced out of the market and rental returns are poor. This all points to a stuck market. Traditionally the market picks up in spring, not after everyone blows their cash on Xmas.

Re: UK housing market
 

Too late for me then - I shall be going to Aus in January with my futile belongings wrapped up in a spotted hanky, with a few of quid in my pocket of my worn-out jeans.
Then say 'sod it' and travel around and soak up the sun for two weeks or so before I start my new job.
Anyone feel sorry for me?
Cas
ps Oh, forgot I'll have my credit card too! :D

Re: UK housing market
 

In 97 I arrived on the WHV with 800 GBP student overdraft after 6 weeks travelling through Asia. Luckily in addition to worn out jeans I bought some shirts and trousers in Bangkok and got work straight away in Sydney. :beer:

In 2002 I arrived with enough savings for a comfortable start but I am still priced out of property.

Re: UK housing market
 

Thats correct after christmas when people have caned the credit cards, due to having to keep up apperances of affluence, they will then go and buy a house that is at historically high levels, also with rising interest rates. :rolleyes:


Don is correct on this one
The Uk housing market is stuffed.

First time buyers CANNOT enter the market, in London they have been prevented from for 3 years minimum. Now they rest of the UK is in the same boat.

Traditional "climbers" up the ladder are unable to do so due to the stupid prices of houses. Five years back where I am someone could upgrade from a terrace to a three bed semi for about 30K now it is about 70/80K.

For all of those who bought years back, see if you could afford your house NOW at current PRICES on your wages.

Housing is unaffordable, a correction is already underway. Anyone selling now should slash 20% off what they think it is "worth" in order to get a quick sale. The boom days are long gone, people need to accept this and move on.

http://www.housepricecrash.co.uk/forum/

Re: UK housing market
 

We sold our property in Glos, UK in end of May. We lost a lot of money trying to 'get rid quick' and we wondered if we should have waited a few more months. I am genuinely sorry to hear things have got worse. We remember only too well how frustrating it is to 'have to wait' when you are all ready to go.

Good luck to all of you in this situation.

Re: UK housing market
 

I think I've missed the boat.

Our house has been on the market for about 4 months and has just been reduced again. The total we have reduced it by is 80 GRAND!!!!

We've had about 20 viewings but no offers. It's a detached 4 bedroomed cottage in a forest in Sussex, no neighbours. A house that we always thought would sell "just like that".

Still, that's life. The nightmare scenario is Perth house prices rocketing while UK ones crash combined with a shitty exchange rate.

I'll keep you all posted.

Re: UK housing market
 

Bloody hell - you guys have got me worried now. We'll just be taking a few quid - approx 1000 pounds - IN TOTAL . Is this going to be enough? Can we survive on so little? With the cost of shipping our stuff out, we're not left with much.
I guess it'll just have to be!!!!!!!!!!! Life's what you make it :)

Re: UK housing market
 

the self fullfilling prophecy bit is the most truth posted on this subject. every year for the past several in the uk the fat cats who own most of the country try to talk down property prices so that investment in the financial markets looks like a better bet and share prices will get a boost. they hate it when house prices are strong because nobody wants to buy into one of their big con pensions or throw money into businesses from which they can drain the profits. its been hard for them but, finally, and this is no thanks to the media and other sensationalists down the pub, its paying off. but if you look carefully the actual depletion in prices is very small. there will be the occasional horror story but there will usually be an explanation, like horrific over pricing and, dare i say it, greed. one thing is sure though, they won't get rid of the thousands of young people who want a home of their own just as soon as they can afford it, or the growing number of split families operating in two homes rather than one. a recent phenomenon in the housing market has been the number of divorced women who now earn a decent wage and can so afford to buy out of poor marriage. i say don't panic or allow yourself to succumb to the culture of fear.

Re: UK housing market
 

I agree. From my perspective there is no huge urgency to sell the house in the UK, although it would be nice to OWN a house in Australia and decorate it.

Come to think of it, renting over here does have its bonuses - NOT having to decorate or do routine maintenance.

Re: UK housing market
 

and besides. anyone else been hearing similar things about the oz market?

Re: UK housing market
 

In Perth it's still "property prices will never fall"

Re: UK housing market
 

There was a dull patch just before the election, but sold signs going up everywhere here again, we've sold too but pre-election people would look then say lovely house but want to wait till the elections over :rolleyes:

Re: UK housing market
 

Perth is probably feeling the effects of the high commodity prices. Good for Perth but those same oil prices will bite elsewhere. Another rate rise will shock a few who think that rates only rise under labour.

Re: UK housing market
 

Perth market is still rising, all be it a little slower than it was. It may come to a stand still soon as there is an election in the offing, perhaps as early as Xmas and the press are reporting the Government are looking at reducing 3 taxes, or the "3 ugly sisters" as they are commonly referred to. They are, 1) Payroll Tax, 2) Land Tax and 3) Stamp Duty.

It is widely reported that Payroll Tax will be reduced by 0.5% and that Stamp Duty will be abolished for first time buyers and this is where the housing market may slow in the short term. Once that's announced for definate we may have a boom again, who knows. Stamp Duty is a killer out here, I think it's paid on house values over $230k.

Walla

Re: UK housing market
 

We had our house valued about a month ago and in the space of year it has gone up $70K. Obviously there is a big difference between what it's worth on paper and what it will sell for, but according to recent REIWA reports our suburb had gone up 39% in the past 12 months!?!

Not sure quite how they get that figure or what it represents (the median house price had gone up 11.7%), but there is no-way we could sell ours at 39% more than we paid. However the suburb is one of the top performing suburbs in Perth so who knows?

Other houses around us are selling fairly well, certainly the good quality ones; and the prices seem pretty high, certainly more than what I would have thought they would go for.

There are still some people taking the p*ss with the prices, but REIWA do a monthly/quarterly report that shows all the prices that houses actually sold for, so it's pretty easy to keep track of how much people are willing to pay.

Re: UK housing market
 

Ahhhh, light at the end of a dark tunnel. So if we get stuck in the UK for a few years, cos of the whole mum thing, and the housing market takes a dive, we could get ourselves on the first rung of the old property ladder instead of renting and then flog it in a few years time, assuming the market picks up, before we go to Oz.

Re: UK housing market
 

Hi Bundy

I'm referring to Perth prices here, so can't comment on where your heading, house prices are still pretty cheap in comparison to the uk.

Hope all is ok with you and yours

Walla

Re: UK housing market
 

The only bubble that seems to exist on this site is the ever-increasing number of threads that you begin on the 'UK housing bubble'. Is there really so little for you to do in Austria?

Some humble advice - get a life.

Re: UK housing market
 

Housing will always be cheap in Nundle :rolleyes:

Sadly we won't be heading that way for a while, so we may consider deciding to stay here for 5 years and to buy a house here in the UK which we could sell in 5 years time when we finally go to Oz.

Re: UK housing market
 

laura its reached up here i'v got a offer on my house and it's not even for sale yet!!
keep spreading the word no house crash here :D

Re: UK housing market
 

In the north east you have still got time to sell now and catch the top of the market.

Already too late for those in the south of England.

Re: UK housing market
 

I consider I am offering an impartial service - ie impartial advice on the UK housing mkt from someone who follows what's happening to it quite religiously. If even one person bucks up their ideas about selling up faster or is more realistic about achievable price and agrees a sale now, thus avoiding more pain later: then I have helped that person.

Of course, I could be wrong about the UK housing mkt. But everything tells me I'm right this time. :(

Re: UK housing market
 

hi
glad to be of help, did i tell you i have the biggest gob in teesside?

Where are you?

Seriously, I put my house on the market back in August, cos i hate my neighbours. Thought it would sell straight away for top wack, like all the others had been, and i was set to make a lot of profit. So my plan was to buy a cheeper smaller house for cash and not have a mortgage for when i went to Auz......

But it just didnt sell, i had veiwing every day, i was fed up of tidying up and estate agents ringing me, no offers, then on the day i decdied to take it down and save myself the hassle, a women offered me 112,500 when it was up for 119,950 so i told her to go and stick it, where the sun dont shine.....(she had previously offered me 105,000 at first, cheeky thing) Now i am thinking should i have taken it..... :confused:



laura
x

Re: UK housing market
 

Oh by the way the reason i told her to stick it was coz we couldnt afford anything else cheeper as there wasnt anything cheeper, and it was gonna cost £5000, just to move, so it all seemed like a pretty pointless excersise, even renting was twice the monthly amount of my mortgage payments.........NIGHTMARE!

Now i am holding out to sell and just flit off with the cold hard cash£££$$$$$ ching,ching :)

Re: UK housing market
 

The number of buyers have declined significantly in London, compared to the same period last year, and the number of properties is increasing all the time. Only way to sell is to lower prices - we lopped 10% of ours to find a buyer.

This is not the same as a crash, I can't see where the push will come for that to happen especially with 2005 being an election year. Rather a few years of zero price growth and some softening in frothy areas of the country.

Just my opinion. Sticking proceeds from ours in the bank for now ;)

Re: UK housing market
 

Still just tumbleweed blowing about down here....

Five viewers in as many weeks (includes one revisit).

No offers.

Price dropped £6k. Still no offers. Everyone who's been loves the house - but no offers (not even cheeky ones).

should i put it on ebay???!!! :(

Re: UK housing market
 

im sorry to hear about your houses i know how fustrating it can be a few year ago we tried to sell our first house we only had 2 viewings in 10 months and no offers took it off the market 1 yr later changed agents and got 5 offers in 5 days so keep your chins up guys and i'll cross everything for you :)

Re: UK housing market
 

A mate of mine in Liverpool is selling his house and its been on the market for about 3 - 4 months.
The estate agent told him that 6 months ago they had 4 buyers for every house on their books. Now they have 4 houses for every buyer.............
The market has boomed in Liverpool over the last 2 years, but the last 6 months has been shite, but the prices are not really dropping, they are just not going up as fast as they were.
We are just building an extension because we cant afford to move to a bigger house.
Just hope that the market does pick up when we decide to go to Oz, so we can get a quick sale and a good price :)

Re: UK housing market
 

Is this serious? Well, no wonder you are confused! You backed an offer that was only 5% off the asking price. You should have taken this, it seems house prices are going to fall by 30% this year. Slash the price while you can and cut your losses before the crash really sinks in.

Good luck!