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come and tell me what you think is going to happen in the housing market in the next 12 months??

(44 Posts)
MaloryTowersUrbaniteLady Mon 21-Jul-08 11:51:33

Message withdrawn at poster's request.

mumblechum Mon 21-Jul-08 11:52:11

Down down deeper and down

ConnorTraceptive Mon 21-Jul-08 11:54:06

down for atleast next two years

MaloryTowersUrbaniteLady Mon 21-Jul-08 11:54:25

Message withdrawn at poster's request.

MaloryTowersUrbaniteLady Mon 21-Jul-08 11:54:36

Message withdrawn at poster's request.

ConnorTraceptive Mon 21-Jul-08 12:07:07

I know we bought last year when house prices peaked - payed £300 000 but have been valued now at £285 00 but would probably have to go as low as £250 000 to get a sale shock

Fortunately we don't need to sell, but god help us if dh's earnings take a plunge (has already dropped 25% since xmas)

MaloryTowersUrbaniteLady Mon 21-Jul-08 13:27:02

Message withdrawn at poster's request.

noddyholder Mon 21-Jul-08 13:38:24

Down 20% from last summer by this xmas and then a further10-15 depending on area etc in 2009.No recovery before 2015. Three agents in Brighton have closed this week and 3 of the big ones have shut branches and relocated staff so it is crash on here for sure.

fiodyl Mon 21-Jul-08 14:02:50

Which ones Noddy?
I havent noticed any closing in Lewes yet, but the staff never look very busy when I go past.

noddyholder Mon 21-Jul-08 14:11:39

Mishon mackay have shut the western rd one Wyatts in kemp twon and sandersons have gone too.I know a few who are laying off staff atm its a nightmare.

fiodyl Mon 21-Jul-08 14:15:49

Oh and when i went into Lampons in Newhaven 3 agents all tried to jump at me- I was only going in to get my deposit back.

foxymolly Mon 21-Jul-08 14:16:11

Whiteknights estate agents shutting up around here as well

Haylo Mon 21-Jul-08 14:36:08

Rumours two are going in eastbourne very soon.

We have just had our offer agreed on our dream home, paying less than was paid for it in 2003, its a repo. Renting our current home out with profit and keeping hold until the market picks up. Fingers crossed we are not stretching too far ....hmm its going to be tight for a while, but then this is a 15-20 year home and long term project.

WideWebWitch Mon 21-Jul-08 14:45:09

I reckon 30-40% down
no recovery until 2012 ish

fiodyl Mon 21-Jul-08 14:53:24

no recovery till 2012 but prices wont hit last summers prices again until 2015-18

BrummieOnTheRun Mon 21-Jul-08 16:28:55

Wouldn't look to buy until next year at the very very earliest. suspect there will be a 'dead cat bounce' next spring when a few people think prices have bottomed out, but economy will drag them back down. unemployment, oil prices and credit card debt haven't hit yet...

allgonebellyup Mon 21-Jul-08 17:44:15

oh god, how depressing.

southutsire Mon 21-Jul-08 19:43:45

Happy days are here again
Altogether shout it now
There's no one who can doubt it now

[not depressed]

nkf Mon 21-Jul-08 19:46:22

Slowly down.

ThePettyandIllinformedGoat Mon 21-Jul-08 19:55:55

actually malory nobody knows. if we did know we would all be high flying property developers living it up in barbados and not sitting on mumsnet.

fishnet Mon 21-Jul-08 20:47:06

Definitely down. One of the houses I like is down £175k now.

We're going into rented next week though. Thank god we sold when we did. Feel very guilty though because our best friends put their house on the market at the same time and have had no interest and if they drop another £10k they'll be in negative equity.

mumblechum Mon 21-Jul-08 21:50:49

Fishnet, why are your friends selling? Seems a bit mad not to just stay put and ride out the storm imo

DavidGest Mon 21-Jul-08 22:10:01

We'll probably buy some properties next year for investment but if it looks very grim we may hold off buying until 2010.

I hate to think how many repo's there will be this time given that so many people seem to have borrowed more than 3 times their salaries - as well as spending equity on cars, holidays etc. I think it's going to hurt lots.

fishnet Tue 22-Jul-08 14:57:25

Unfortunately mumblechum our friends are divorcing so they have no choice. sad

noddyholder Tue 22-Jul-08 15:04:34

I offered 210 today on a house at 275 They said no.Then rang me to say they had a full structural survey all good re wired this year and new combi boiler 2 yrs ago so I increased to 215 and they are going to let me know by this afternoon.That is 22 % off and I think we could get it for less if we waited but is in our preferred area.The agent has said that in this market it is fair!So fingers crossed

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