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House Price Crash Forum


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About akthus

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    HPC Newbie
  1. In Halifax where I live there is a shortage of houses for sale. Any that have been on the market have now got sold signs. The argument that prices will fall is now stale. Prices in my opinion will stay stable and may go up a bit - as long as employment is high and interest rates stay low.
  2. Talk of interests going down and then it actually going down has had an effect. Houses in my Area (Yorkshire) are still selling and prices are stable. And my words are backed up by a report from the Nationwide which said house prices increased by 0.2 % last month. Here is the link : - http://www.nationwide.co.uk/hpi/historical/MPR0507.pdf
  3. I have been watching prices in my area (West Yorkshire) and they have held pretty well. True that they are not going up any more but they are not coming down that much either. The amount of properties still for sale around my locaility( Halifax) is not excessive and demand is still there for those that are coming up for sale. I will admit that houses are moving slowly but they are selling. My advice for what it is worth is that pay what you can afford and take a long term view when buying a home. If you know that your home is going to be worth more in 25 years time than what you are paying
  4. If you are desperate then sell. If you bought at the peak then you are unlikely to make any money. House prices have stabalised for now. However the market could pick up again - which is a possibilty because interest rates are predicted to come down. I think this is a difficult one. Good Luck
  5. I think people seem to keep daydreaming. Here in Halifax where I live property is moving again and we do not have any glut of houses on the market. There are a few houses that have been on sale for a while but they are the exception and not the norm. I was looking through the 'Evening Courier' our local paper and the housing section does not suggest any serious movement downwards. Yes I agree that the price advertised and price sold are 2 different things but the asking price has not changed fundemenatlly from last years prices - infact they have gone up. Just wait and see prices will stay
  6. Some good news - interest rates are more likely to come down. Most Economists are syaing this. Manufacturing output has slown down, the housing market has been slow in the last couple of months and the consumer is spending less. This means that rates will come down which plays a big factor in the affordability of loans. My opionion is that prices will rise by a small amount this year.
  7. I live in Halifax and in the last month or so things have picked up here again. Houses that had been on sale for a while have SOLD signs appearing now. Prices are reduced but not that much. The problem at the moment as I see it is that most houses are getting out of reach for first time buyers and hence those people wanting to move up can not. However Gordon Brown's new idea of helping these first time buyers should help propel the market again. Prices may not go up by double digit figures but for those of you expecting a price crash - forget it it won't happen.
  8. I am going what is happening my local area - west yorkshire. Here there is a shortage of good quality 3 bedroom houses. The demand is very strong for these kind of homes - especially in good areas and localities. If you read the papers you will see that they are also indicating that even with the new build of properties going up they predict a shortage in the coming years.
  9. Don't believe the doom and gloom merchants. House prices are steadying and as long as there is a shortage of homes prices will remain steady and grow. Just look at history and the last crash ( not likely to happen now) and the prices that we have now. People slowly get used to prices and in 5 years time the 'average' price homes sell for now will be the norm. Just hold your nerve and wait for the summer sales pickup.
  10. It seems like for the last couple of years the usual ups and downs seem to be cyclic. I can remember last year people prior to spring were taliking about a slow down and then in summer things picked up and we had another double digit increase in prices. This time round I don't see major gains in price values but some stable prices and maybe a small increase. Summer always means more house sales - must be the sunshine ! Anyone who has studied house prices knows that historically they always rise and by a substantial amount every 10 years. My advice to anyone looking to buy is 'buy and buy'.
  11. House prices in Halifax - West Yorkshire have been steady. We haven't seen any falls. The last couple of months saw a few more properties remaining with a FOR SALE sign longer than usual but recently even those have been snapped up. My guess is that prices will stabalise and we won't get more large increases in price but sales will become strong again due to summer - the traditional time when people start to look. There will not be a price crash.
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