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

Great news for all those hoping to buy a place to live.

Great news for all those hoping to buy a place to live

So you

You need to start another thread you can ramble on continually update on.

Let us know where you buy op, we love a good right move thread on here.

How is the OP still going on about this?!

You need to start another thread

Great idea!

Bluntness100

Ah, bless.

"How is the OP still going on about this?!"

Well, you're still here so assume you're interested... :)

I may be naïve here, but considering that monthly housing costs cost more than anything else as part of people's monthly budget, I imagine that it is a topic that interests many, many people.

Omg don’t you love the sound of your own voice OP. Interesting that you’re so keen on bumping your own thread. Zzzzzzz.

What makes you a 'Property Expert', then? Do you work for an estate agency or home builder or other party with a vested interest in prices rising, I wonder?

And what makes you the Oracle?

I'm not an Oracle at all.

But I don't claim to be.

I post articles that include facts about past falls - any views about where it's going to go from here are just opinions. None of us has a crystal ball.

I am a bit bored with all the posts that try to make this thread about me.

SimonBridges - any comments on house prices?

I’m not claiming to be an expert.

I have actually noticed a lot of house sales falling through in my area in the last few weeks.

And the house price falls continue, as I predicted (though, quelle surprise, the 'experts' claim to be surprised by this ).

www.ft.com/content/1ebe41ee-649a-11e8-a39d-4df188287fff

UK house prices fell by 0.2 per cent in May, according to lender Nationwide, clashing with market expectations that prices would rise by the same degree.

I certainly wouldn't buy now unless I could do so at a good discount to allow for further falls, certainly in the SE.

And it's set to get worse - or better, depending on whether you're looking to trade up or down.

www.independent.co.uk/news/business/news/uk-house-prices-property-may-nationwide-index-mortgages-a8376961.html

UK house price growth disappoints in May as property experts predict more gloom ahead

A likely interest rate hike will keep prices subdued, said one economist

Economists and property experts have painted a gloomy picture of the year ahead for house prices, after the latest Nationwide house price index showed the market missed expectations this month.

Between April and May, prices were down 0.2 per cent, with supply remaining low and surveyors reporting subdued levels of new buyer enquiries.

And it's all hitting the SE and London particularly badly, as I have been predicting throughout this thread:

www.homesandproperty.co.uk/property-news/house-price-growth-slows-in-cities-in-the-south-as-london-effect-spreads-a120911.html

Good.

Great username btw!

Gracias.

My mother has just sold 10k above asking to her first viewer within 2 days of listing in SE. Excellent price. Very happy

ILikeMyChickenFried-my best friend just bought in the SE and it was a furious bidding war between her and someone else. Went well over the asking price too!

Really, ILikeMyChickenFried?

I wonder where in the SE that is then?

I'm sure there are occasionally pockets where prices are stable in the SE (mainly grottier areas where prices are therefore still low relative to surrounding areas).

Have I guessed right? :)

NotAnotherUserName5 - nah, don't believe you, sorry.

Did she use a time machine to sell her house?

It sold for £500k, not at all grotty.