UK Property Market: blowing off some steam...
 

Just wondering if anyone is in our position and wants to just... blow off some steam...

We are good to go to Oz as soon as we sell..... We're keen to get over the the Gold Coast asap as we have two young kids (boy:2.3yr and girl:8wks) and want to have one or two more in sunny Qld...

We have had our flat on the Thames for 5 years and have had it on the market for 9 months with few viewings and only one (really average) offer...

Finally we decided 2 wks ago to more or less take the crappy offer (with a couple of reasonable conditions)... then it turned out that the guy works for HBOS (need I say more!!) So it all went on hold for a week...

Then I called the estate agent (a big, well established, Canary Wharf agent) today and they have had to sack their entire sales team and don't do sales any more.... just lettings.....

So!!! It looks like it's at least another UK winter for us and maybe a summer too.... and another winter... and so it goes... and maybe one day (if we're really lucky!!!) a couple of British Grandchildren!! Woo hoo!!!

Re: UK Property Market: blowing off some steam...
 

feel for you guys!!! mates of mine in manchester in the same boat.they have had there visa since feburary but no takers on there house and there house is a 1st time buyers house at the very lowest end of the housing ladder

Re: UK Property Market: blowing off some steam...
 

Just sell it for whatever you can get/an offer that you can afford to accept.

Prices are going only one way for the foreseeable future.

If you want a wake up call take a look here check out these sites....

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

http://forum.globalhousepricecrash.com/index.php?

http://www.propertysnake.co.uk/

Flats seem to be the worst to shift at the moment as there has been a huge over supply in most areas. Mostly down to the wannabe btl'ers imo.

Re: UK Property Market: blowing off some steam...
 

Hi All,

It's probably already been stated else where but why not rent your place out until the markets pick up?

We have rented out our house and are about to go to Australia and rent there. It does have a number of advantages; you don't have to wait for a sale and if you rent it through a lettings company they'll vet the tenants, renting in Oz seems to be a good option because we can afford to rent in an area closer to the beach where as if we were buying we'd have to consider further from the beach, you're not burning any bridges if you decide to come back then your property is still there.

May be worth a thought. I'd hate the fact that we couldn't sell stopping us from emigrating.

Thanks all.

M

Re: UK Property Market: blowing off some steam...
 

We are trying to sell our 3 bed home and its just not shifting. It is not over priced as i made sure it was competetive. It is only £2,000 more than a 2 bed down the road!!!!

We need to be in Oz within 3 months of getting visas and they came sooner than expected we have now had them a week, It only took 5 weeks to get them processed!!!!!

I dont know what to do!

Re: UK Property Market: blowing off some steam...
 

WAKE UP ALL HOUSES ARE OVER PRICED!! ALL OF THEM!

We are only in the early stages of the biggest crash EVER!

And don't compare a 2 bed house down the road that also hasn't sold. It's pretty pointless as it's more over priced than yours!

We managed to sell our house in June. We only bought it 10 months before then. We lost £35k in those 10 months. That's just on the purchase price, never mind solicitors etc.

It will be donkeys years before prices reach 2007 prices.

And a good thing too as the average house being 8x the average salary is NOT a good thing!

Wake up & smell the coffee!!

Re: UK Property Market: blowing off some steam...
 

I guess you must know all there is to know about the property market then?

The difference is, yes the prices of property are high but we have taken this into consideration. There is another 3 bed in the area that went on 2 weeks before us and we put ours on 10k under their price. Checking out statistics of properties in the area that have sold recently, ours is now below average price.

So not only are we comparing our price to properties that are on the market but to those that have sold also!!!!

Re: UK Property Market: blowing off some steam...
 

Yes I know everything about the property market. That is why I lost £35,000 in 10 months. :rofl::rofl:

The only houses that are selling are houses that are MASSIVELY discounted from last years prices. Unless that is you are incredibly lucky.

Do you use rightmove.co.uk ? if you do download this plugin...

http://www.property-bee.com/

(You also need Firefox as it won't work with IE)

I don't know what area you are in, but where I am asking prices have dropped massively this year. And nothing is shifting.

I nearly bought another house a couple of months ago. I offered what it sold for in 2002. Had a wake up call and pulled out. It's still unsold.

I was lucky to get out. Lucky I had enough equity to lose £35k. Some people obviously can't afford to do that.

Your house is worth what somebody is prepared to pay for it. With all that's going on at the moment that could be polls apart from what you "think" it's worth.

Have you had any low offers?

Re: UK Property Market: blowing off some steam...
 

Hi autorock, what a run of bad luck!

I hope you get some better luck soon

Re: UK Property Market: blowing off some steam...
 

No offers as yet It has only been on market 2 weeks. A young couple really liked it but got turned down for a mortgage.

Im constantly in contact with the estate agents, in fact i am probably their worst nightmare. Up until 2 months ago i was in the business myself so i keep pushing them making sure they are doing their job.

There are another couple who are stil saving their deposit. So its not that they are saying our house isnt worth the price, they just cannot get a mortgage This is the real problem at the moment!!

Re: UK Property Market: blowing off some steam...
 

btw Steph, where are you getting your sold prices from?

And don't forget the average house price has dropped every month for the last 10 months or so.

Not wishing to upset anyone just my opinions take it or leave it.

If I had of listened to my Estate Agent who told me I was dropping my price too much I would still be there. And since I moved the house opostite which is identical has just been reduced for the fourth time to £10k below my selling price. As I said I was very lucky.

Re: UK Property Market: blowing off some steam...
 

Well good luck, I hope you get what you want/need. Bad timing with the job offer really, if it had have been summer last year you would have probably had no problem getting a decent price. :(

Re: UK Property Market: blowing off some steam...
 

I have my inside knowledge of websites that produce sold prices.:sneaky:

I am well aware of prices dropping etc that is why i am marketing my home for the price it is and not higher.

I understand that this is your opinion. But i am being totally realistic with my price unlike a lot of vendors these days. I suppose once you have been in the business for long enough you view things differently to other vendors.

Re: UK Property Market: blowing off some steam...
 

Just wondered if you had known people that had sold locally & what they had sold for. The sold prices seem to take ages to update on some of the sites you can use to check them. Mine is not on there & that sold beginning of June. Sometimes it can take a year for prices to appear.

Good job you are being realistic because most people aren't. You are still going to need a bit of luck given your tight timescales. Hopefully somebody that can precede will fall in live with it soon. :wub:

Re: UK Property Market: blowing off some steam...
 

.....oh and I have my fingers crossed the price crash is heading down under. I need it too! Assuming we ever get there.