jac

bloody rip off! if you wait another year it would be 50p

Congratulations to original poster. I don't understand why some people are so negative we're worried that house prices are too high. we can't buy or don't want to buy the property we want at inflated prices you got a property at a price you feel comfortable with that is great. i think that's what most people on this website want. there seems to be a few anti property owning anarchists but for 99% of us, congratulations. i hope i have a similar story to tell. i'm looking to go to auction next week and aim to follow your tactics

thanks ... that's very useful.. surveyor suggests i put a conditional bid on it as it's currently boarded up so he cant get in... this would be a good way of doing it... cheers!

Hi there. I'm interested in bidding at auction next week. Saw an interesting thread advising not to bid against the wall. That looks tricky to watch out for but will do my best. But how does the initial price get set? if i think the opening price is too high do i suggest a lower one or wait for the auctioneer to start at a more reasonable one a surveyor told me a story of there was only one bidder (his client) and she got what the initial price was.. but what if she suggested a lower price? sorry if this is a daft question would be very interested in other people's anecdotals. read someone got themselves a place at auction but i think it was post auction as it didnt meet the reserve price? Congratulations!

got it they're always slow to update their website but i found it http://www.rics.org/Practiceareas/Property...8_r_091208.html

anybody got a link to the full report? sales were flat at 11. stocks of unsold properties fell back. so the sales to stock ratio improved a bit suggesting slightly less fast decline new buyer enquiries also increased. suggesting mortgage apps will pick up from disastrous to just plain bad over the next year but house prices in my view dont bottom out til end 2010 early 2011

they used to bring it out at 7am when it was good news to hit the morning tv now they bring it out late...on mpc day.. so the news is hidden

nationwide was down 0.4%. taking the average of the two (down 1.5%) suggests both figures are erratic but... bring it on! down 2.6%

gordon brown and alistair darling will be getting mortgage relief too after the next election....

i completely agree with the original poster's fears i have cash in the bank from my sell to rent it will earn zero interest soon then we will get hyper inflation as the govt prints money so my savings will be eroded by inflation we therefore need physical assets to keep up with inflation e.g. precious metals and property i like index linked gilts and bunds too

i can understand the mistake the people made in the youtube video if i was told it didnt meet the reserve price then you would feel tempted to keep bidding to push it up to the reserve price else it would be withdrawn from the market? that's what happens on ebay... and i've read here that many auctions are withdrawn so if i see a house on auction that is say 50% off 2007 values and i like that and i bid for it and the auctioneer says it doesn't meet reserve then yes i guess i would probably think.. shall i take it up to 40% off?

i'm disappointed in the us house price falls reaccelerated post lehman and the lack of credit availability lets see what hbos says i believe rics sales to stocks ratio continued to deteriorate alas, i also believe the mpc will cut rates to 1% in mad attempt to stabilize the situation. hooked on the drug of cheap credit

only down 0.4% down 13.9% yoy vs 14.6% last month

money is as money does money is a store of value that means there has to be a limited amount acceptable to others as a means of exchange i don't know why anyone accepts ious from the US government when it is blatantly printing new dollar bills to pay off people's mortgages the only things i trust are german bunds and gold

i think rates are going to 1% so svr would be sensible until fixes really come down. markets haven't really changed their long-term view on rates yet.

lloyds just said it will cut its svr by 1.5%

Serious question. Any mortgage brokers hearing what banks/building societies are doing to 1. New 2. Existing mortgage rates following today's BoE announcement. thanks

would be great if someone on here could compile an auction price index based on resales

-14.6%

just come out on bloomberg should be on their website somewhere

correct yoy rate (not three month average) i work out at -14.6%

this is extremely important in the context of (a) the boe under pressure to cut by more than 50bp on thursday ( government ministers putting pressure on banks to cut mortgage rates by hiking first and then cutting... they're basically saying we're not passing on rate cuts can anyone confirm this story? i cant see anything on abbey's website... very grateful for citywire link

this is my biggest concern about the need to ultimately get back on the property market the govt will not stand back and let us go into japanese style deflation. that happened as boj was too slow to act the risk is we get hyper inflation as the bank of england prints £ to pay for government borrowing. if the banks wont lend, the government will nationalise them the best thing we wanted as housing bears was a global boom meaning higher interest rates, rebalancing of the economy from housing to exports but with a global recession we will see aggressive policy reflation you must know the story about germany in the 1930s. the guy turns up with a wheelbarrow of currency to pay for some bread. the shopkeeper says no thanks but i'll swap it for the wheelbarrow real assets will do better in hyperinflation than my str fund stuck in a bank account yielding zero while inflation is triple digit! edit: removed 'property ladder' it's a cliche spun by vested interests in the media! sorry..

hi. i completely agree about the lack of credit availability. and we don't know how bad things will get. i'm assuming it stays really bad. so if the boe is slow to cut rates we are stuck in a japanese style rut but i'm assuming the boe will get rates down to 1% pronto to try and kickstart things it knows it has to. 5-year consumer inflation expectations collapsed last month according to yougov/citigroup so the boe has no excuse now