Sunday, Jul 29, 2007
Almost there!
Times: At last, good news for buyers
We’ve entered a buyer’s market,” says Lucian Cook, director of residential research at Savills, the nationwide estate agency. “It is a turnaround since the beginning of the year: three months ago, it was definitely a seller’s market. The average homeowner is going to have to take a more realistic look at the market this summer.” “For the first time in ages, buyers, especially if they are cash- and chain-free, are in a strong position.” I wonder the BTLers who bought in the past few months, how they feel now?!?
Posted by confused76 @ 12:51 AM (241 views) Add Comment
7 Comments
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1. Pendulum said...
You can see how the EAs are going to milk this... phenomenal 2% reduction on this (100% overpriced) prime location property! Buying at the peak for a miniscule reduction won't tempt this bear out the woods...
2. Scott said...
Very good article confused76, well done. Its just a matter of how many boring articles about foreign currencies there will be in here before another article as good as this.
3. Mark said...
so reading between the lines the agents are shi**ing themselves... brace yourself i say, run for the hills..the crrrrrash is happening..lol
NO gloss here..
4. paul said...
And it's not going to go back to a sellers market for a long time I suspect.
5. Brighton-rent-fodder said...
As a keen reader of your hilarious comments on this housing market website for the past few years, I say greetings to you all and please keep it up. I definitely am looking forward to picking up our local property rag one day, to find the prices FINALLY at last have fallen to reasonable levels. I've noticed that the local property rags have been expanding to the point where I won't be able to carry them home anymore. Personally I don't believe half the flats down here are worth more 50K unless they're bl**dy massive, which they ain't, and do agree that the flats will get hit for six. we've got loads of new developments down here such as the new "city point" near the station, 205K for a 1 bedroom flat HELLO? they reckon the rent on it would be about 700 to 750 squid a month. well mates you can easily get a 2 bedroom flat for rent down here for that kind of money. the property managers are deliberately targeting the BTLer's. Let the cull begin.
6. Orwell said...
Oh really?
Average salary in the UK, £25,000. Average in London £30,000. Average house price in the UK £200,000 (+)?
We don't yet have the buyers market we are going to get....
7. Crash Bandicoot said...
This is important. Although it doesn't say it directly, and pretends that the market will recover next year. This is the first time that we have not heard the "houses only go up in value" routine from estate agents. As it says in one of the comments why buy now at today's discount when next month's price will be £10k less.