To think that big house price falls finally on the way?

[qwertyflirty]

After years or price rises, in my area (edge of London), I'm finally seeing price falls of around 15% from peak.

Lots of evidence in recent months of house price falls starting and picking up in London/South East, and usually once they start here, price falls spread elsewhere.

House prices are down on average 17K since July 2017 in London. "The average price of a home for the capital as a whole was £471,986, down from a peak of £488,247 last July."

There is little the government can do to mitigate it this time round, as interest rates are already at record lows. All signs are currently pointing to the top of the market having been reached and prices about to crash.

Such as:

www.theguardian.com/business/2018/apr/18/london-house-prices-fall-average-uk

www.thisismoney.co.uk/money/mortgageshome/article-5733321/Beware-red-danger-signs-house-prices-Young-buyers-borrow-record-sums.html

www.theguardian.com/money/2018/may/12/house-prices-are-on-the-slide-where-will-they-go-now

www.independent.co.uk/news/business/news/house-prices-fall-housing-market-rics-survey-april-a8343561.html

www.propertyweek.com/finance/house-price-falls-continue-in-london-and-spread-to-south-west/5096455.article

www.theguardian.com/commentisfree/2018/may/10/celebrate-house-prices-falling-britain-property-values

Yeah ok then Big Head (you've already used ad hominum upthread, doesn't make you sound brainy just precocious) - you're too London-centric in your opines.

FTB in my 50s, Bank of Mum opened after she died, shared with siblings, I moved area and I bought, small mortgage till 67.

Where do you place me in your assumptions then love?

People keep telling me that prices in the SE and London aren't falling. Well, they are where I live but I appreciate that my area may not be typical.

If you live in London and the SE and prices are rising in your area, please post proof below.

Interested to see how different areas are faring.

HateIsNotGood

I place you in the pointlessly rude and thinks using a Latin phrase makes you posh category.

RedToothBrush love that post, it's true where I live too

Any chance you could post on the topic of house prices in your area please?

Oh and 10 years ago DS (age 4) and I were homeless, spent 8 months in 1 room, shared kitchen and bathroom with about 15 other people.

You called someone early on a liar for the same situation.

You really only have a narrow view of life you really do.

But good luck with your dissertation.

Did you buy in London/SE and when? Have prices in your area risen or fallen since then?

You know, the topic of the thread...

SW - seem stable, beyond the reach of many on local wages, as they have been for a long time.

The houses are irrelevant as people can stay put but here’s a flat example.

Reduced by 60k to 425k whereas they sold for 450k plus in the past.
m.zoopla.co.uk/for-sale/details/46608889?search_identifier=4cf80fd7a5c2aaeb2e43c51755968398

Oh and 10 years ago DS (age 4) and I were homeless, spent 8 months in 1 room, shared kitchen and bathroom with about 15 other people.

OP doesn't care about any experiences which contradict her viewpoint, don't waste your breath.

SW is apparently the other area that is falling at the moment.

Now what about you then qwerty? What's your beef then - don't like the prices where you live?

Move to a cheaper area.

Is that borne out by your experience?

I bought in sw london 2 years ago and selling prices on my street seem to be up around 5% now.

freezerfoodyum

Seriously. If you have something to contribute on the topic, do.

We get that you don't like me.

No-one cares.

Redtoothbrush
I've been saying that for years about the lack of small houses being built. It's ridiculous isn't it.

You mean SW as that huge region that includes Wilts, etc or the bit that is Devon and Cornwall. Prices are slowly rising - not at profit-making levels - so I guess if you limit your info to the Guardian and Indy you won't get a true picture will you?

I thought that prices were rising like crazy in places like Bristol.

We looked at moving there but actually couldn't afford it even though we can afford London (just), bizarrely.

qwerty
I've been reading this thread, and have to say that you have been pretty unpleasant to quite a few people on here.

U ok hun?

Againfaster

Is that 5% up on when you bought?

Did prices rise and then fall again, or is that just a gradual climb up to 5% from when you bought?

SarfE4sticated

Fine thanks.

Anything to say on the topic of house prices in London and the SE?

Yes it is qwerty - left SE to return to SW - I work remotely so location doesn't matter. Moved out of HA house too.

You really need to be more flexible if you want to get on the housing ladder- not blame others who don't feel your same sense of Inflated Ego.

Againfaster

2148 sq foot vs 2500 sq ft, you can see the floor plans.

extra bedrooms is where all the money is at so yes that would account for a lot. I disagree unless your talking about 3-4, when buying a big house proportions are important ime.

that house does also say its gone up 300% since its last sale too?! so expectations of that type of rise continuing are unrealistic

That’s my point anyone buying now has be careful & not just expect the property to double as it has in the past.

Not that it's directly relevant, but the RE market is quite soft in New York and the surrounding counties. Here it's being attributed to rising interest rates and recent tax law changes that limits how much property tax and mortgage interest you can deduct for income tax purposes.

The luxury apartment market here has been overbuilt and the huge houses (aka "McMansions") that were so trendy 10-20 years ago have fallen out of favor with many buyers. The lower end of the market is still selling quite briskly.

As I said, not specifically on topic, but I thought you might find what's happening in a comparable market in US interesting.

I don't dislike you OP, I have no idea who you are.

You are the one who picked a fight over nothing, not me.