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ianbeale

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Posts posted by ianbeale

  1. IB how much do you think prices have "Dropped" since you started looking ? In percentage terms.

    i have been looking since i STRed in the minicrash of Q1 05 so prices have gone up 15% i real terms since then but I would say that they have dropped about 3% in real terms from their Q2 07 peak - the only ones that are selling now are those that are making sizeable reductions. For most of the market there is a standoff between buyers and sellers with about a 5-10% gulf between what is being asked and what is prepared to be paid - this gap is widening daily. I expect to see some marked falls in the spring - its startred already, just look at this weeks homeseeker - it looks like a supermarket flyer with all those new price tags.

    keep the faith

    IB

  2. defiately signs of a downturn now - a prop that was on my wish list that seemed good value (relatively) at 325k has just been chopped to 299k - will i buy? not just yet - i think ill give it a few months to see if the market starts moving again in early spring - hpc is shaping up nicely in muff. will be watching RICS figs like a hawk...

    keep the faith

    ib

  3. I think if some consistent falls aren't seen soon, amazingly, the market may well have shrugged off a reduction in the availability of credit.

    Which is odd, because that is on of the "different this time" factors.

    I dont expect to see decent falls until the new year when people will get realistic whith stuff that has been stuck on the market for months. You will also get lots of grannies dying of the cold etc which is always good for speedy sales at knockdown prices as the benefactors want their slice of the pie. Happy Christmas...

  4. In this weekend freebee newspaper.

    This reduction not in one go as I saw this last week at £375K but I think it went £550K, £475K £425K before that. Been on the market for quite some time.

    Agent ad reads " New price" Massive reduction" " NOW £345,000 WAS £500,000"

    looks like the developer needs to get a sale soon.

    http://www.rightmove.co.uk/viewdetails-820...=4&tr_t=buy

    at a glance looks good value - but beware hayle is full of inbreds

  5. IF this is true then it is only right that some credibility is given to it as (VI or not) it is the leading property website and as a forward looking indicator it has value by the way it looks at properties comming onto the market in the last month and nothing else.

    These figures are no doubt caused by Hips noise adversley affecting the mix of properties - as relatively more 4 beds come onto the market this month than last and the supply of smaller three beds falls away. In fairness they did give some factual analysis for septembers fall so they should do the same for this months rise((mmm). as the 3 bed numbers pick up again we should see some decent falls.

    the time on the market indicator and stock levels will be interesting.

    i believe what i see with my eyes daily

    prices are being cut - (plymouth)

  6. Sounds like it'll make people realise that stretching yourself to get on could be a stupid idea. Strange they have waited until after the credit crunch to put out such a programme.

    So many people are stretching themselves to get on, because they think they'll get left behind. One guy I know has just bought a one bed place in North London for 200K. Interest only for three years, because he can't afford to pay off any capital and he'll be 'quite skint' in general from going from paying rent to paying interest only. Another girl I know at work put in an offer on a flat for 180K in East London. I plucked up the courage to say to her something along the lines of ...

    'I know houses could still go up and up and I'm not saying they won't, but aren't you worried about this credit crunch meaning prices go down and it'd be better to wait?'

    ... and she said that it's in the area around the Olympics, so no problems there. I bit my tongue. Maybe I should suggest she watch this programme.

    dont be cruel - just let her burn in her ignorance

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