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House Price Crash Forum

hangers

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  1. estate agent just said people cant buy as prices are not falling quick enough. he also just said its cheaper to rent in most places than buy in the last 18 months! perhaps they are starting to get fed up of lack of sales??
  2. here is a good example: http://www.rightmove.co.uk/property-for-sale/property-28357006.html tiny one bed flat, sold in 2007 for 135k worth around 50-60k now, been on the market for 4 years. Zooplas 'zed index' says the average value in the area is £188,743 (just over 2 individuals earning average income 3.5 x earnings) yet the average asking price is £238,744. So even Zoopla think sellers are asking 20% too much. I think the truth is more like 30% overpriced, given that the majority of employed people in Yorkshire are public sector workers, who are understandably nervous about their jobs,
  3. It may be: with the high prices and falling market people are thinking of actually buying a place which will not only suit their current needs, but their needs until the market finally upturns (be that in 10-15 years) So unless the 1 bed flats are dirt cheap, they become redundant for the vast core of first time buyers (main target market) It may be that the amount hitting the market has been linear, but none are actually selling.
  4. It does seem like a trend. Although i think i will need a years data to compare, to next years data to get an idea of seasonal swings. Having the three layers gives me the most accurate idea of asking prices, and movement. All in the BD17 postcode. What i have found interesting is the fluctuations, the total number fluctuates by +/- 5 properties on sale roughly every 14 days. But always seems to return to roughly around 330 total properties on sale (for the last 40 days). I can only assume this is the properties being taken down, re-priced then put up again. some properties go away for a few
  5. I have been tracking the delusional prices on Rightmove for Baildon. I have been watching the price ranges from 0-130k, 130k-175k and 175k+ i have been watching the houses on offer, in these ranges. As I wont buy until average houses reach reasonable income multiples. Given the local incomes i calculated that (when i started gathering information 40 days ago) that when 175k range houses reach 130k the market will be reasonable again. When added to a chart you get three layers of prices, im watching the 0-130k range grow, only when this reaches a stage when it covers the same amount of marke
  6. anyone know what the current delusion index is in the BD17 postcode? seems to be many flats stuck not selling. Take this example: i think it sold in 2007 for 135k, been on the market years and is overpriced at 91k. heres the link: http://www.rightmove.co.uk/property-for-sale/property-28357006.html
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