Few viewings and no offers - it's the time of year, right?

[Amethyst24]

DP's flat has been on the market for a few weeks now with barely a sniff. It's a 1-bed in zone 3, in pretty good condition although it's been tenanted for a few years (tenants have now moved out). Was originally priced at offers over £250K but dropped now to £249.950. Seems on a par with others on the market in the area - competitive if anything.

So am I right in thinking that the market is just really slow at this time of year? We're considering giving the agents a week's notice in the hope that they'll make a massive effort in that time, then taking it off the market until the new year and getting valuations from other agents now we're not facing the issue of the stamp duty threshold.

Also wondered whether putting in a new kitchen might help (it's the only thing in the flat that is really dated). But then people would potentially be viewing it when there's work being done and it's a mess, and if the new kitchen wasn't to their taste it might put them off...

Any words of wisdom?

Right most move is just asking prices. Skewed massively by a few million pound properties anyway.

Next month they will probably be up 50k lol. Month on month variations are huge. Need to look at year on year

Roneik you've been forecasting this property crash since at least June and probably before.

Funny it said on the news last night that property prices are Forcast to rise 4-5% next year.

No I don't but over all I read the financial papers closely and have a friend who writes for one about to retire and he has always advised me and has rarely been wrong. The last phone in I listened to re prices etc said this was the first time ever that falling prices wouldn't be an election loser. All my colleagues in property are preparing for the next year like they did in 2007-8. It doesn't really affect me as I make my living on the work I do and could just as easily lose but overall a correction is required to normalise things. The fact that some people would struggle with a rise of rates or reduction of price is neither here nor there.It is getting to the point where more would benefit which is very unusual.

They sound like one of those loons over on house price crash, most of whom have been saying since 2005 that they will crash. When they have more than doubled.

Twoopsie if you are an interior designer you must see that your job is usually the first to go and many IDs struggling atm as people can really only afford the house no extras!

In a crash this is what happens monthly drops and flat lining odd month. Then you go down the pub and everyone is a property expert
Last months fall must be starting to make buyers think.
That's a years salary for most, and more for many people

The market has always risen and fallen in cycles its just that people have become so indebted and the economy is so shaky that the govts have had to keep them inflated to maintain a feeling of prosperity. They really should have been allowed to correct in 2005 and 08 properly it would have benefitted more than it would have crucified Now is a different story

Twoopsie the market was manipulated to defeat the banking crisis , there comes a point where the actual economy is threatened by HPI . At that point the government have to save the economy and their interest too.

They really should have been allowed to correct in 2005 and 08 properly it would have benefitted more than it would have crucified Now is a different story

That is it in a nutshell, now it will have a much more damaging effect

Vivaebeaver , I have been right too, since May every month property has fallen

Crashes are not a light switch, they are month on month drops until the buyers step out of the market.
Sellers who have to sell drop the price and the thing gains a life of it's own.
Try to make some contribution to the thread that is not childlike because it's not going your way

people can really only afford the house no extras!

Depends who you are talking about. This country is very divided based on age. Young people can't afford anything, and only help they get offered is to buy some awful small Barrett house where the show home is full of 3/4 size furniture and all the doors removed to make it look bigger. In some awful brownfield site.

Where as the older generation often have a higher disposable income than most young people will even gross in their life. These are the ones with money and no way will the government do anything to stop / reverse this inequality.

If interest rates go up even a small amount property will crash. That's why they are desperately trying to keep them at almost zero. Otherwise there will be chaos.

I don't think pointing out that firstly you do seem a bit biased on property threads or that the news yesterday which acknowledged last months drop is still predicting a rise next year is childlike.

To be honest I'd be over the moon if prices fell. They could halve for all I care. I sold my 2nd house in May and have money in the bank to buy a couple of BTL houses if prices fall like you think they will.

So how much are you working atm then as most of the interior designers I know are doing like I did and turning their hand to larger full on renovations as design work has dried up Unless of course you work at a high end on contract in which case good luck to you!

Well doesn't it show you that they didn't crash during the recesion show you that they will do all they can to stop them crashing

And I think that overall this year there's been something like a 10% increase in prices.

Interesting forecast table here.

Twoopsie are you not going to answer me re your design business and how much work you are getting atm?

Twoopsie if you believe that the older generation are all swimming in money you are deluded. I grafted on car factory conveyers for many years and it was physical before the robots.I worked and went through recessions that nearly broke me. I worked 12 hour shifts to get a property paid for . Paid a lot of tax. Being of better stuff than conveyer belt fodder I worked my way up. I retired at 55 and every penny I have and have had, has been honest.
A lifetime of trying never to be in debt or exposed to what life can throw at you is the secret.I am not going to say what I did after I retired but I didnt sit around expecting houses to be a pension at the expense of future generations
This pig awful government has the cheek to call the derisory state pension that I paid into for 50 years a benefit

I didn't say they are all swimming in money, but as a general rule they are the generation with money.

My business is doing fine, its only part time ATM while I build up business.

Ah I see,part time interior design there's a lot of it about.Not the best time to start an ID business but you don't sound desperate for an income

That forecast looks like a weather forecast before satellites , and shoe box sized mobile phones

Oh you do try and pump it up don't you

What makes you say I'm not desperate?

Just that interior design when you are self employed is precarious so if you can afford to be part time in the current climate you can't be. What kind of client do you have? Is it residential or corporate?

Well actually I have a full time job that I'm desperate to get rid of. Residential, I don't have the reasources for corporates, in had to turn down a few.

You turned down a few corporates at the beginning of your career?????