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I could really see a market like this tipping into capitulation.

There are thousands of people wanting to sell, for it to 'return to normal'

Fortunately, I just can't see any upwards movement in prices on the horizon. 2007 prices were at the peak of a huge bubble and now there is nowhere the government can go to stimulate the housing market.

More importantly, political will to do so is ebbing.

Slowly slowly, people will start to accept it and one day, I can see falls picking up the pace as pent up demand to sell is released.

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LOL - have to laugh at the agent here.

mousey, I disagree. Agents are massively overvaluing houses here just to get the business.

I viewed a house a few weeks ago by a man who owned the estate agency who said that it hadn't had any offers on it yet because the asking price was too high hmm.

When I asked him what valuation he had given them he remained silent!

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Personally, I think our house has been overvalued, and equity in a house is worth diddly sqat unless you are downsizing, have inherited a house or it is an investment property. Very few people actually benefit from rising house prices. We all should know now that taking equity out of your house to finance an exotic holiday etc is not a great idea.

F*ck me a woman capable of actual logical thought !!.

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The thread makes sad reading in some cases to be honest. these are real people with children looking to find a home. Having said that sometimes people need to be more realistic.

I do feel a bit sorry for those who bought at the peak of the market alothough the drop was predicted. I have a problem with my own adult children who see house purchase as a way to make money.

Anyway I wish all at mumsnet all the best for their futures. Having said that I can't see the housing market improving anytime soon.

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My favourite.

MixedupMartha Wed 08-Sep-10 15:00:28

cheek of it! Don't accept under any circumstances!

Except in circumstances that involve you actually selling the house maybe?

Enjoy chasing the market down, ladies.

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snip. Having said that I can't see the housing market improving anytime soon.

you see, the market IS improving with every drop...every move becomes cheaper, every £ saved can go in the real economy....

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The thread makes sad reading in some cases to be honest. these are real people with children looking to find a home. Having said that sometimes people need to be more realistic.

I do feel a bit sorry for those who bought at the peak of the market alothough the drop was predicted. I have a problem with my own adult children who see house purchase as a way to make money.

Anyway I wish all at mumsnet all the best for their futures. Having said that I can't see the housing market improving anytime soon.

The whole of the UK have been taken for a ride(devlish) and lured by the City/Govt /Financials into GAMBLING with the roof over their heads!

They have to take the losses as well as the gains - it is far better that a house is just somewhere to live in - not an investment. It's to all our advantages (not the banksters)

People should be extremely angry about how they have been lured into this mess with false illusions of wealth - while the real wealth is taken out by higher commissions/up front fees and exponential interest by the banks/other financial vi's.

Edited by erranta

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you see, the market IS improving with every drop...every move becomes cheaper, every £ saved can go in the real economy....

I'm sorry Bloo you're quite right.

I actually meant that they're not going to sell their houses. I've told all of my children to put off buying for a while. My son is living with me at the moment and will buy sometime (not soon).

My eldest is renting and is watching prices fall. She's not stable (workwise) yet and so doesn't really want to be burdened with a house that might not sell.

My youngest is still at uni but does want to buy when the time is right.

I rent too. I might buy a house (again) one day.

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wiltsmum Wed 08-Sep-10 14:40:38

Hello all!

Guess what-we had an offer, but it was so low (310k) for a house valued at 399k. Whilst we want to sell, we paid £325k in Dec 07 and have spent 40k renovating.

MixedupMartha Wed 08-Sep-10 15:00:28

cheek of it! Don't accept under any circumstances!

Now i was going to comment about marthas wondeful advice .... but then Cretaceous won the prize for coming up with an idea that will fool just about everyone.

Cretaceous Wed 08-Sep-10 20:09:54

Roseflower - you mentioned you had a three-bed semi, and viewers were complaining about the tiny third bedroom. We got the same comments when we put ours on the market. I rearranged the (very small amount of) furniture in the third bedroom to make it look bigger, and no-one else mentioned to the agents how small it was. Worth a try.

Edited by BuyInOxford

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Eventually people have to get on with their lives

Chap at work owns a city centre flat in leeds bought in 2007 :o

girlfriend now pregnant and is having to rent elsewhere

can't or won't sell for a loss so renting out the flat they own

another girl at work MEWED up to the hilt and moved mortgage to IO

to reduce monthly outgoings, was shocked when i told her that the lender is

unlikely to roll over her IO deal when it comes to an end

next chap at work seperated from wife, house needs divvying up

he in turn is renting a house which the owners have on the market for sale simultaneously

because they can't sell it

i could go on and on..

the fact that so many people "cant afford"

to sell at any price just means

over time the number of prople who need to move just builds up and up, this probably means the drop after any tipping point will be violent IMHO

there is a mighty head of steam

building up,

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I'm sorry Bloo you're quite right.

I actually meant that they're not going to sell their houses. I've told all of my children to put off buying for a while. My son is living with me at the moment and will buy sometime (not soon).

My eldest is renting and is watching prices fall. She's not stable (workwise) yet and so doesn't really want to be burdened with a house that might not sell.

My youngest is still at uni but does want to buy when the time is right.

I rent too. I might buy a house (again) one day.

TBH, we are really spoilt with our rental...horses in the field behind, large rooms, new double glazing.....buying is going to be a real letdown when...if..we decide to do so.

its the young ones...and of course, they just see the prices and think they are engraved in marble....they are not....I tell them, but they think its ME thats stoopid.

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OMG I've just read the BBC news and houses have dropped in value -3.6% in ONE BLOODY MONTH. It's the biggest drop since records began. My sister was going to put her house on the market after christmas. I've just phoned her up and it'll be on the market (hopefully) within the next week. Hold strong ladies but think carefully before you reject an offer on your house just now.

Who says there wont be any panic selling ? B)

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artyjools Tue 12-Oct-10 14:26:11

'The thing is, if we take our house off the market and others have a similar mindset to ours, then there will be a shortage of houses which will....guess what.....push house prices up. So all of those sitting around waiting for house prices to plummet might be in for a shock!'

oh dear................ :lol:

perhaps you should log in and post up the link to the Austrian Bust phase lecture.

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There are still buyers out there.

A friend of mine recently dropped near £400k buying a house. He still seems adamant property is a one way bet. This despite the fact that his last house was bought at the 2007 peak, and he full well knows he wont get anywhere near peak price for it in this area. He decided to rent it out instead to migrant workers.

Luckily for him he's earning good money, likely to go up and has family acting as a mortgage facility. (earning £45k or so a year). No idea of his cash position though.

Unfortunately for sellers, buyers like him are very much in the minority.

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' Mooos Thu 07-Oct-10 09:09:00

OMG I've just read the BBC news and houses have dropped in value -3.6% in ONE BLOODY MONTH. It's the biggest drop since records began. My sister was going to put her house on the market after christmas. I've just phoned her up and it'll be on the market (hopefully) within the next week. Hold strong ladies but think carefully before you reject an offer on your house just now.'

is that the sound of a penny dropping I hear or could it be a HPCer trolling.

What's that I hear - renters are making £250 PER DAY coz that's a £7,500 drop in ONE MONTH on the average house!

The tide has turned = will the lousy Govt plug the leaking dam with yet more taxpayers money - like labour did 3 yrs ago?

Another part of the equation is that most of the 'Futurists' are talking about interest rates going back to their NORMAL 8-10% WITHIN TWO YEARS!

People will offer EVEN less for houses - due to mortgage/interest affordability!

Edited by erranta

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Just found this at the end of the Mumsnet thread:

New here, so, hi. I'm looking to buy a home but prices are way, way too high compared with average salaries. So, I'm just sitting in the wings for now.

Think I'll grab some popcorn and sit down to watch the fireworks :lol:

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with amazing location/views

oooh amazing location and views. inner city tower blocks have amazing locations and views. the chilean miners trapped underground had an amazing location and views.

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TBH, we are really spoilt with our rental...horses in the field behind, large rooms, new double glazing.....buying is going to be a real letdown when...if..we decide to do so.

its the young ones...and of course, they just see the prices and think they are engraved in marble....they are not....I tell them, but they think its ME thats stoopid.

LOL it sounds to me like you have similar problems that I have. My children think that I'm stupid but deeeeeeeeeep down they know that I'm not. I just say what they don't want to hear :D

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Just found this at the end of the Mumsnet thread:

Think I'll grab some popcorn and sit down to watch the fireworks :lol:

Respect to the HPCer who posted that message on mumsnet

Edited by blackgoose

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  • 244 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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