chala

Yes I'm using property Bee, but still not seeing drops like I was earlier in the year. When a house comes on the market at £170k, when it should really be around £150k, they may drop it £5k but it usually sells after the first drop. If you could see my saved properties now, I would say 70% of them are SSTC. To be fair I probably save far too many properties, as I'm interested in seeing if the sales fall through, plus it reminds me to check what the final sale price is once it's gone through. I don't get this at all. Surely if the sale falls through, the buyer would like it to be re-advertised as personally I will not enquire about a house that's either SSTC or Under offer on rightmove? Here I beg to differ, although I am only talking about Bristol to be fair. There's not a lot on the market at the moment (which I know will have something to do with the time of year), but I've been very suprised with the number of over priced properties that have quickly gone SSTC in the last few months. Granted they might fall through, but I have to say so far, only the odd one I've been watching has fallen through.

Really? I take it your not looking at First time buyer properties then? Because I'm looking in the £150-£170k range and all I've seen for the last couple of months is everything going Sold STC.

I'm not seeing prices drop in Bristol. Infact anything half decent 3 bed that comes on in the £160-£180k bracket seems to be selling very fast at the moment. Bristol perhaps hasn't been hit as hard with unemployment as many other areas, so I'm beginning to think we won't see big drops in Bristol.

Can someone explain to me why they think a rise in the base rate to say 1% is gonna make much difference to the current situation? I tried to start a new topic asking the same question, but for some reason the mods haven't approved it?? Obviously I understand the economics behind a rise in interest rates, but what a lot of people are forgetting is that most people currently sat on SVR are already saving a good 2-3% on what they originally took their mortgage out at. Take one of my friends for example, whose fixed deal at around 5% finished about a year ago. He has been sat on the SVR at approx 2.5% ever since. Until the base rises to around 3% he will be no worse off than he was originally. Even if you take someone who isn't saving loads, a 0.5% increase in Interest rates is only going to add around £60 per month to someone with a £150k mortgage. Now whilst it's not nice to have to find that extra £60, it wouldn't be difficult for most people surely? I'm a bear on the housing market long term, but I can't see a big drop that many are expecting. Personally I think prices will be stagnant for a good few years, until Interest rates start to rise back toward reasonable levels and that is going to be a very slow drawn out process imo.

Will do. I had been encouraged by gradual drops in prices from around Oct time last year. Gradually more 3 beds were coming into theh £140k bracket and a few droped to the £135k bracket. But like I said, all of a sudden in the last week or 2, about 7 or 8 have gone Sold STC. It almost sounds a bit fishy to me, either that or the tide is beginning to turn (in Bristol at least).

I have around 30 three bed properties I've been watching in the £135k-£150k bracket and in the last week or 2 atleast 7 or 8 of them have gone Sold STC. Now whether these sales actually go through is another thing, but it is a worrying up turn from my point of view. I was hoping in 12-18 months I would be able to get a reasonable 3 bed for around £120k-£130k, but if lots of the lower priced 3 beds start to sell, we'll soon see sellers uping their prices.