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Original poster

House price bores this way, please...

258 replies

southutsire · 13/09/2007 16:51

If you would like to discuss and pointlessly speculate about the housing market, please post here, so that I don't ruin dinner parties and every conversation I have in RL by boring everyone to death on the subject.

What do you think will happen in the next months and why?

OP posts:
BrummieOnTheRun · 09/01/2008 22:30

There seem to be lots of moron vendors who can't/won't accept that they aren't going to get their asking price. Like Noddy, we're in Brighton (renting, looking to buy) and vendors are still holding out for near-asking price.

I guess if, unlike london, you've had 10 solid years of unadulterated house price rises it can be difficult to swallow.

Rents are dropping dramatically here (seasonal maybe?) so we'll bank our money and earn £700/month off the interest. That's half our rent.

We even offered one family a sale and leaseback arrangement so they could sit in their (sold) house and negotiate hard on their next property but they're too focused on what they sell at instead of what they buy at.

1dilemma · 09/01/2008 22:47

BrummieOTR am I misunderstanding you? London has had some pretty sustained house price rises too.
FWIW I think rents are off a bit here too (S. London)
I have to say guys the year has only just started, if I were selling now I'd not be looking to discount to any degree until past Easter....

1dilemma · 09/01/2008 22:48

Blonde no at home with sick dc but lots of work to do....

noddyholder · 09/01/2008 22:52

I viewed9 housaes yesterday and today all no chain.Not willing to take huge drops yet but all willing to consider offers so fingers crossed won't be long before they all see sense

BrummieOnTheRun · 10/01/2008 11:09

Yep agree, 1dilemma, London had massive rises, but also experienced periods of price drops too. There were about 2 cooling off periods while we were there.

I don't think this city experienced those cooling off periods so it may be the first time many homeowners have dealt with the realities of a downward market.

Noddy, keep us posted, LOL!

anniemac · 10/01/2008 11:58

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anniemac · 10/01/2008 11:58

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TheBlonde · 13/01/2008 22:29

finally a few more places seem to be coming up for sale... nothing suitable for us alas

TheBlonde · 16/05/2008 08:16

so what does everyone predict for the rest of the year?
according to propertysnake some houses here have dropped asking price by up to 20%

noddyholder · 16/05/2008 08:55

I think 15% down by the autumn winter and 30% by 2010.I have just offered 20% off a house i like yeaterday and they are thinking about it and letting me know which would have been unheard of even 6 weeks ago.If i get it it will be 28% off the price of the last house that sold in the street in november and this is in a v good area schools parks etc.

TheBlonde · 16/05/2008 13:33

wow 20% off and they are thinking about it
hope you get it

noddyholder · 16/05/2008 14:23

I have everything crossed It is a bit sentimental for us as we had a house in that road 8 years ago and when I was on dialysis we had to sell it bcause dp had to give up work to look after me.we were gutted and have been buying and selling to save enough to be mortagge free so that we never have to go through that again!

Tortington · 16/05/2008 14:25

ooooooooooh fingers crossed

noddyholder · 16/05/2008 14:28

thanks custy can't believe we might be able to move back there never thought we could afford it x

ListersSister · 16/05/2008 14:37

I thought you were going to wait Noddy .

I take it this house is the 'right side'

noddyholder · 16/05/2008 14:46

I was and am if this doesn't happen!It is in a different area completely Lister.It is a huge bargain if I get it.Saw in the papaer that prices are going to drop to 2003 prices so am trying to factor that in.Fingers crossed

WideWebWitch · 16/05/2008 14:47

Ooh hello, just posting so I can come back later! You know what I think!

ListersSister · 16/05/2008 14:48

Give us a hint then!
Good luck

noddyholder · 16/05/2008 15:00

Nearer to town and jst of d----ing road

Tortington · 16/05/2008 15:04

DOGGING?

OMG OMG

noddyholder · 16/05/2008 15:05

I hope so!Nothing much to see out of the window where we are now Custy are you still moving?

Tortington · 16/05/2008 15:08

latest update as of like 15 mins ago

our extra mortgage due to mums house not selling - been approved - but at a higher rate.

even though BOE base rate gone down - i am being told by broker that ABBEY and other banks are putting theirs up

i am to await the details.

but i have a serious deposit - so am not quite believing this actually

the rate its going i am going to start from scratch with a different broker

any suggestions?

and how do they make their money ( i you do suggest someone)

thanks

noddyholder · 16/05/2008 15:15

Well mortgage rates go up regardless of what the bank of england does.It really is irrelevant and is just the figure at which the Bof E lends to banks.They borrow from each other at something called LIBOR which has shot up this week.Inflation is going to rise and interest rates will follow.But the abbey has just reduced its tracker if you have a good deposit and hsbc i think.

noddyholder · 16/05/2008 15:17

Is it a lot more or could you afford to pay it until the bungalow sells?Have you tried your own bank because apparently a lot of banks are more favourable to current account holders which is how it was done in the old days

ListersSister · 16/05/2008 15:42

Noddy - nr LR Stn then ?
If so, we used to live round here...