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bobb71

Some Advice Please

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I am new to this board so was hoping you could give me some advice. I sold my property in 2006 (because I had to rather than wanting to) and am now quite keen to buy again. I keep getting so many conflicting pieces of advice, I am not too sure what to do. Some are saying that prices will come down some way further over the next 2 years (although prices where I live in SW4 are still ridiculously high) and that I should wait. Some are saying that I need to get on board, because if prices do rise again I'll get caught out!!

Any help would be gladly received.

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Hi

I sold up in 2007,my job is renovating/renting/new builds,I now do maintenance work for letting agents!! I to am renting I say hold the line,I really think we are heading for the next stage down,I started buying in '91,if you look at the last HPC graph (80's) you had the "last stand" before it fell off a cliff,6 months ago all the guys i know in the trade and not were saying "phew" looks like they have stabilised" now all I hear is doom and gloom,people are scared,scared people do not buy houses,this is just my opinion at the end of the day you must decide,me Im waiting another year-18 months,Im sure they will drop however I did not count on a corrupt goverment to shore it all up,the only other thing to contend with is how long they will go down for ie Japan....20 years,if this is the case I will buy a renovation project at auction,and get on with my life....good luck

Thanks for that, I think thats my view as well.....think I am happy to hold and just see what occurs over the next 18 months. With the Euro issues, interest rates to rise, unemployment to rise, big cuts on the way etc etc be interesting to see what happens.

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I am new to this board so was hoping you could give me some advice. I sold my property in 2006 (because I had to rather than wanting to) and am now quite keen to buy again. I keep getting so many conflicting pieces of advice, I am not too sure what to do. Some are saying that prices will come down some way further over the next 2 years (although prices where I live in SW4 are still ridiculously high) and that I should wait. Some are saying that I need to get on board, because if prices do rise again I'll get caught out!!

Any help would be gladly received.

I've been doing some preliminary house-hunting for/with my FTB daughter, who for various increasingly pressing reasons is dying for a place of her own.

We're looking in 2 or 3 areas of SW London. While I'm aware that other areas of the UK are experiencing price drops, it's not happening around here - if only it were.

My personal feeling is that there's a sort of feeding frenzy going on at the moment - at least half the properties I've phoned about have just gone under offer. To me there's a feel of early summer 2007, when prices were still going completely bonkers and I felt almost alone in seeing storm clouds ahead. (Hadn't found HPC then.)

This is purely personal, but my own instinct is to wait until after the summer. This time of year is usually good for vendors anyway - all the gardens are looking at their best, everything lush and green and infinitely more attractive than in (say) November. The autumn is traditionally a quiet time anyway.

And that's leaving aside the whole q of more financial chaos, CGT, cuts, markets in meltdown, etc.

Our plan is to carry on researching areas/prices, go and see several to see exactly what's available, keep checking online to see which of the under-offers have fallen through - (fingers Xed) and wait until at least early October to put in any offers. By then, with a bit of luck, vendors who were blithely expecting an easy sale over the summer will be more likely to accept offers, if they haven't reduced prices anyway.

Having said all that, we were sorely tempted last week to put in an offer on a property that ticked virtually every box, including a price reduction and vendors 'already suited' - only we were beaten to it by someone else.

Probably for the best. As my mother would have said before she went doolally, 'It wasn't meant to be.' ;)

I don't know whether you saw the Telegraph article the other day, but for the usually pretty bullish Tel. property section to say that this could be the calm before the storm (for vendors) and that if you want to sell your house, get on and do it now, was very encouraging for the likes of us and only confirmed everything gut feeling was telling me.

Good luck.

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I've been doing some preliminary house-hunting for/with my FTB daughter, who for various increasingly pressing reasons is dying for a place of her own.

We're looking in 2 or 3 areas of SW London. While I'm aware that other areas of the UK are experiencing price drops, it's not happening around here - if only it were.

My personal feeling is that there's a sort of feeding frenzy going on at the moment - at least half the properties I've phoned about have just gone under offer. To me there's a feel of early summer 2007, when prices were still going completely bonkers and I felt almost alone in seeing storm clouds ahead. (Hadn't found HPC then.)

This is purely personal, but my own instinct is to wait until after the summer. This time of year is usually good for vendors anyway - all the gardens are looking at their best, everything lush and green and infinitely more attractive than in (say) November. The autumn is traditionally a quiet time anyway.

And that's leaving aside the whole q of more financial chaos, CGT, cuts, markets in meltdown, etc.

Our plan is to carry on researching areas/prices, go and see several to see exactly what's available, keep checking online to see which of the under-offers have fallen through - (fingers Xed) and wait until at least early October to put in any offers. By then, with a bit of luck, vendors who were blithely expecting an easy sale over the summer will be more likely to accept offers, if they haven't reduced prices anyway.

Having said all that, we were sorely tempted last week to put in an offer on a property that ticked virtually every box, including a price reduction and vendors 'already suited' - only we were beaten to it by someone else.

Probably for the best. As my mother would have said before she went doolally, 'It wasn't meant to be.' ;)

I don't know whether you saw the Telegraph article the other day, but for the usually pretty bullish Tel. property section to say that this could be the calm before the storm (for vendors) and that if you want to sell your house, get on and do it now, was very encouraging for the likes of us and only confirmed everything gut feeling was telling me.

Good luck.

Thanks for that. I live in Clapham Old Town and I must say there has been no real drop in house prices at all. I might have to venture further afield to be able to afford somewhere that I would be happy to live in!

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...me Im waiting another year-18 months,Im sure they will drop however I did not count on a corrupt goverment to shore it all up,the only other thing to contend with is how long they will go down for ie Japan....20 years,if this is the case I will buy a renovation project at auction,and get on with my life....good luck

This was what happened to me, I was convinced they would drop, but I didn't factor in the fact the government would do as much as they did to try and stop it.

For me they have gone too far and rather than help the situation we now have thousands of people who should have had to face the reality they cannot afford their homes, now at the mercy of interest rates but still "home owners". Even a modest rise would see pandemonium and that is why I'm now considering going back in (obviously at as big a knockdown price as I can get), my reasoning being that interest rates would have wipe out half the mortgaged population before they start to effect me.

There is also this Mexican stand off at the moment, people simply cannot accept very low offers and with banks unwilling to repossess then we will never get the required level of forced sellers to drive prices down. In my dooms day scenario what was needed was repossessions, forcing prices down across the board. I just can't see this happening any more, while there is bad feeling against the banks and how they have gotten away with their recklessness I think the trade off will be an understanding that repossessions should be kept to a minimum in the short to medium term.

My opinion now is I'd be better off playing the game rather than sitting on the side lines and getting punished for it.

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Do yourself a favour - if you had significant equity, a mortgage isn't a pain and you actually want a place to call your own - buy back in. Don't give in to greed.

If you don't you're setting yourself up for five years of gnawing on a bone and visiting HPC 24/7.

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I am new to this board so was hoping you could give me some advice. I sold my property in 2006 (because I had to rather than wanting to) and am now quite keen to buy again. I keep getting so many conflicting pieces of advice, I am not too sure what to do. Some are saying that prices will come down some way further over the next 2 years (although prices where I live in SW4 are still ridiculously high) and that I should wait. Some are saying that I need to get on board, because if prices do rise again I'll get caught out!!

Any help would be gladly received.

It's fun to stay at the Y...

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Thanks for that. I live in Clapham Old Town and I must say there has been no real drop in house prices at all. I might have to venture further afield to be able to afford somewhere that I would be happy to live in!

My daughter's living in Clapham at the moment - only a few mins. walk from C Junc. But anything she'd like in Clap. is way too expensive. Among other things we've been looking at period maisonettes in Tooting. I was very pleasantly surprised by the area - some really nice, quiet, tree-lined roads just a short-ish walk from Toot. Broadway tube. And it's a very vibrant area, fantastic fruit and veg markets etc.

Of course it's on the Northern line, but then one can't have everything. :)

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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