Billy Ray Valentine

No increase in the percentage of reductions in my search since my last post, today do far is 20 listed of which 7 are reductions. Some places coming on at slightly less insanely priced than 6 months ago but still obviously ridiculously priced. Supply has levelled off currently. Interestingly I've noticed the supply of bungalows has been slowly increasing. I track these out of interest as my last place was a bungalow. Hardly any have shifted for weeks now! Competition for a sale in this area looks to be getting fierce. There seems to be a clear ceiling on prices for these kind of places. Can't be long now before people need to start cutting their prices if they ever want to get a sale, though I imagine many of these are probates and the executors will no doubt hang on 'for what it's worth' for as long as possible.

Just saw part of the clip with her arguing with Milliband. Thought she came over like a bit of an idiot.......not too surprised.

I hate the Upton development, just horrible. I've parked across the way from that very building a few times, remember thinking it was a thoroughly soulless place. £250K to live there, shocking.

Houses>£210K or less>within 5m of NN1: Last 3 days: 79 listed, of which 16 are reductions and one sale fell through = 20%. Slight fall in rate of reductions, but it seems this is more to do with an increase in supply the last few days, with a high proportion of houses coming on being at the lower end. According to RM at least hardly anything is shifting. Places coming on at less than they would have done 6 months ago. The way things stand I'm feel confident of some decent price falls leading up to the election.

Houses>£210K or less>within 5m of NN1: Last 3 days listed 47, of which 15 are reductions, just under 30%. A few hefty reductions today, with other places coming on at (slightly) less than what similar places were going for some months back.

You're telling me. There seem to be a lot of these 'be careful what you wish for' type posts at the moment. Frankly I'd take 50% off housing and my stash of cash as well compared to the current situation.

Absolute nonsense.

Got to love this one: On now for £193K asking, slightly over 2007 peak sold price: http://www.rightmove.co.uk/property-for-sale/property-31729224.html Last sold in 2011 for £156K http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=31729224&sale=23262519&country=england Nice of the agent to got to so much trouble this time with the photos.

Whether you wish for Armageddon or not that was the gist of your post...... Houses>£210K or less>within 5m of NN1: Listed today 11, of which 4 are reductions = 37%

It's possible. It's also possible that they've pumped up the market so that if Labour get and the SHTF Labour will get the blame.

Houses>£210K or less>within 5m of NN1: 22 Listed today of which 7 are reductions = 32% A lot of sellers are going to have to have to start reducing their prices soon if they do actually want to sell I think.

-Double post-

In Northants if nothing else the steam has been taken out of the market. Prices no higher now than what they were in March/April, with signs that things are in fact falling back a bit. Affordability at the prices here is maxed out. I doubt prices will be any higher here now in 10 years time, hopefully they'll be lower. if you're in the South East I can understand your pessimism. What kind of nominal falls are needed down there to make property truly affordable, 50%? Agree about the lost generation, see it panning out day by day, like a train crash in slow motion.

In Northants prices are at 2007 levels if not more in some areas. Mid 90's you could buy a 2-3 bed terrace for and average of £30K. Average wage at the time, £13-17K. People at the lower end of the 'average' could afford to buy such a place. 20 years later the same standard terrace is averaging circa £125K. Average wage now, £17-24K. I know numerous people who bought 94-96 in their early 20's after saving for a hard 6 months for the deposit. Now you need two average earners saving together for a few years to get the deposit just to buy the same starter place. How the ****** can now be a great buying opportunity like the mid 90's, and where the hell is the growth going to come from?

Houses>£210K or less>within 5m of NN1: 21 listed of which 5 are reductions = 24% Supply up a little so still not much sign of anything selling.

Not another 'be careful what you wish for' post!

Yes. I've noticed myself the last couple of months a high proportion of 2005-8 bought houses of all types coming on 'No Chain.' The asking price for these places vary from around the price paid to as much as 20% more. Has definitely been feeling like a lot of BTL's trying to get out without too much of a loss to me.

I do notice that a high proportion of houses coming on the market were bought between 2006-2008, a large majority of which are no chain. This one listed at 20%+ the 2008 sale price, shocking: http://www.rightmove.co.uk/property-for-sale/property-46835938.html Last sold in 2008: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=17071646&sale=24444773&country=england Most recent sale in this street: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=3544664&sale=51551033&country=england A decade on and still a loss.

Houses>£210K or less>within 5m of NN1: Only 3 listed today with no reductions. Supply steady, nothing selling?

In April it was obvious that the market was going completely nuts. I had my house initially valued in that month, and each EA smugly told me how I could get £1xx'000 for it (2007 price, and 20% more than I paid in 2012. One agent (HM) wanted to put it on for slightly higher. 6-8 weeks later I decided to put it on the market, and the first words the agent I dealt with said were a pretty blunt 'nothings changed'. It already felt like the momentum had gone out of it a bit at that stage. At the moment I really feel that April-May was the absolute peak. The driver for further significant price rises has gone IMO. My hope now is that we get a real crash soon and not just a very slow grind to the bottom.

Just done another count of places listed yesterday, with the same search. We now have: 24 listed of which 12 are reductions = 50% Today so far we have 11 listed, of which 6 are reductions = = 55%

Search = Houses at £210K or les within 5 miles of NN1: Last 3 days = 87 listed of which 29 are reductions = 33% 9 of these new listings were new builds that say 'coming soon'. With those removed we have 78 listed of which 29 are reductions = 37%

Whenever I feel that the deal I get on a house I like is either going to be 30-40% off current prices or/and the difference in buying to renting in the timeframe I feel it will take prices to get to that level is sufficient to cover the cost off the house going down over that particular timeframe. Ultimately however it has to be a house that a like very much and can see my self staying there for 10 year bare minimum. These things depend on your situation though. I'm single and live alone, and my salary is only average. If I was earning better, or/and living with someone else so overall I was able to rent and save more I'd be more liable to sit it out for longer. I have a large deposit and could lock in at a low rate if I chose to buy now, and pay £200 les per month than I currently am paying in rent, with a decent amount of the mortgage being repayment also. Having said all that I'm still happy at least for the next 6-12 months to sit it out and see what happens. My plans might change depending on how things pan out with the economy in that period.

What a stupid story. So is Miliband meant to give a significant amount of change to every single homeless person he passes in the street? Perhaps he only realised too late that he didn't have any significant change on him. If this is all they can catch the guy doing wrong he's possibly not all that bad. Still not voting for Labour mind.................

Search = Houses £210K or less within 5 miles: 11 listed of which 4 are reductions = 36% So only 7 newly listed, supply not fluctuated. Still looks like nothing is selling.