What month will the property crash be obvious in?

[roneik]

Not doom but a question, and I would like to hear some opinions

I reckon by july

my posts are accurate and I believe I am better informed than those that are in disagreement. I was called the SEER when I predicted in 2005 the banking crash and named the banks. One bank I predicted the month it went down. The woman at one branch was shocked when I removed every penny from my account. I told her you are a failed bank and my money is at risk. I even sold the house in early 2007, at the peak and took the money. I bought a good house in the north for sane money. I stand and act on what I see and believe. I am not driven by greed like so many that nearly destroyed our economy.Time will tell, leave the insults until you can say I am wrong

I am right and boy will I let you know when very soon I am proved right

Marywestmacoat, again the crash has started, it will take about that long to reach full flow meltdown. 30k last month London properties dropped.
You don't need a too many of them to equal a crash. Just the fact there's an election with all the uncertainty of the possibility of UK exiting is causing uncertainty . If the market was healthy we would not need all these interventions by the government, help to buy and tinkering

Also everybody and their wife by now must be aware that after the election there will be some really painful adjustments to be made. The only recognizable aspect of government spending will probably be the NHS

You keep pointing to a £30k drop in London prices but what average value is that on? The most expensive property in London is on the market for £65 million. £30k on that is nothing. On an average of £300k it is a lot. Context is needed to substantiate your points.

Are you trying to help people or gloat? Good for you avoiding the Northern Rock questions to remove your money and for your move up North.

"my posts are accurate and I believe I am better informed than those that are in disagreement."

Do you have any friends?

You really don't know what you are talking about.

What crash?
Until supply gets close to equally supply there isn't go to be a crash certainly not in the south east. Virtually no 4 bed houses being built in London, majority is two bed flats. If you have a family hone in London you can set the price no probs.

Supply gets close to equalling demand even....
And on macro economic terms growing population plus limited house building plus huge foreign investment does not equal property crash conditions.

I think though that demand is dropping on practical terms.

Not demand for housing in itself, but demand for housing at its current price.

In essence buyers are giving up. They can't save the necessary deposits on current wages, they can't get mortgages and they can't afford the prices being asked.

And although the BTL market has kept things swimming, that is also cooling. Would be landlords have to make a profit and there comes a tipping point min a property's price that makes it's unattractive.

As I say, I think 'crash ' is overstated, but there is going to be a levelling which will be a reduction in real terms and a headache for those who bought at the end point.

See you all after the crash

Happy Christmas to you all, even Landlords

Thanks Ron for for including us landlords in your Christmas wishes, especially given that some of us actually agree with you re house prices going to crash/needing to crash - not ALL of us are evil Rachmans (although I've encountered plenty of those)
2015 is going to be a very interesting year indeed.

PA Nonsense about family home owners being able to name their price - plenty of houses near me (v attractive area, handy for City/Canary Wharf workers, prices not too extortionate for London) have been stuck on the market for ages now - plenty of buyers who make offers but then it all falls through because surveyors value it down/the banks just aren't prepared to lend silly amounts any more..

Now we are part of the larger European Economy with freer working migration my simple understanding is that the "poorer" countries standard of living will move upwards, the "richer" countries will have to drop so it is overall more even.

Multi generational living will happen - everyone paying into one pot, shock horror many siblings having to share small bedrooms etc. Children in their late teens and twenties will stay living at home because they can't afford to move out.

We sold in the SE at the end of the summer and have moved far, far away because I could see the bubble bursting and it was the right time for us to take advantage of the price differential.

Oh god please don't let there be a price crash, we desperately need to find a buyer for our house.

Definite signs of falls and just nothing selling here. Lots of 'new' listings with open days in January the bulk of which have not sold and gave simply been relisted with new prices which just won't be achieved. I agree that people have given up a bit as the deposits and multiples required now are just impossible to secure.

That's my observation too Noddy.

I get constant updates of new property on the market in various areas, and much of it is not new; it's just being repackaged.

I certainly will not be buying anything new in the coming months, until I can see the bigger picture.

Nor will I. I was looking but I have been here before and even waiting 6-12 months I know I will get a bargain Everything is in place I have seen it so many times before.

It will depend a lot on what happens in the general election and on what happens to interest rates and how much effect this new tax has on property prices. Also if wages stagnate and firms start making people redundant then that has to have an impact on property prices. Hmm I am one that keeps thinking there has to be a crash but there never seems to be one.

Estate agent Haart shows drop of 14% in south-west London in November

www.theguardian.com/money/2014/dec/22/london-house-prices-fall-november

ASking prices. One can only assume they are not getting prices.

Agent rang me today and actually referred to a correction which was a surprise to me

What I don't understand is why the government is propping up the rental market by paying so much in housing benefit/partial housing benefit...

The rent in the SE is unaffordable without assistance for so many WORKING families.

Some say he was demented escapee from a secure mental health facility
Others say he has testicles the size of lorry wheels
From deep north out of the mist he came
SEER OF THE CRASH

I just could not resist a post

The previous head of the bank of England has admitted that they deliberately pumped up consumerism in any way they could
This mother is going down big style believe me

So theres your answer
Cant pay the rent get a wonga loan , it all pumps the GDP

Why does it make you so happy? I hope your trunk doesn't interfere with your mobility op.