Rightmove - asking prices falling

[Alexalee]

Can't believe fabuloussophie hasn't started a thread on this

www.dailymail.co.uk/money/mortgageshome/article-6077995/Asking-prices-slump-7k-month-Rightmove-data-shows.html

The gaps between the rungs are a big problem around here... 300k for a 2 bed flat, 450k for a 3 bed house

Buy to let with any type of mortgage doesn't seem to add up anymore

I feel like people who really struggled to get onto the housing ladder a few years ago, perhaps 7-10 years ago, are now struggling to move onto the next rung. Maybe their mortgage isn’t that great and bridging the gap to afford a bigger house is really difficult.

Yes, round our way (Liverpool), people who bought a “starter home” (2 bed terrace or a tiny new build) and just about managed to scrape together the money to do that, are really struggling to make the move up to a bigger home now that they have 2 children . The jump up is too much so a few families I know are stuck in housing that is too small for their needs and can’t see a way to move up.

I hate our housing market even though we personally have done ok out of it. I would rather have less equity in our house and have sensible house prices for all.

I think the market is just going through cycles as it always does. If your property is realistically priced and you make a decent enough profit do it. Depending on how long you have had your property this could be very good or if you bought well also. I think the time of making a killing in 2/3 yrs are few and far in-between. Sellers have to factor this and reign in rouge EA pricing your hs 100k above the last few sale on your street unless generally the work done is drastically more or sq. I wont pay 100k just for an extra room for eg. As they say its better to be the worst hs on the best street than the best on a less so street. #JS

Houses have been increasing at a pace that would have to abait after some time. Look at prices 2005-2007/8 then again 2011-2013 then 2014-2017. Up & down.
While there is uncertainty pre March, if there is a no deal situation I think ppl would be much more pinched so there is no guarantee that selling in 9-12 months things would be any better (or worse if there was a deal). There are so many factors at play such as interest rates, employment, inflation. On the point of employment some ppl may even have to be flexible and move to the continent.
Just go with your gut and be realistic. Realistic being the operative word here.

I've just looked on Rightmove for my Bristol commuter town and only one property has been reduced. Houses similar to ours are around 10% more asking price than they were last year

Yes, Bristol still very bubbly.

I’m in Manchester and it’s skyrocketed in the last year.
A lot of it I think is London landlords buying oop north for value for money/good yields

Yes, lastqueen, and i also think it’s people actually moving out of London completely, looking for a better standard of living. Not just landlords. I hear a LOT of non-local accents round here now.

After feeling sorry for people in places like Cornwall, having to battle rising house prices due to luckier richer Londoners buying second homes or just moving there with huge deposits, I feel it’s starting to happen elsesheee in the country now.

That's why it will spread... London prices drop means less money going to Cornwall etc.
Landlords will stop buying oop north when the yields are too low because prices have risen too much