Selling Your House: An Expensive Move In A Failing Market

[The Masked Tulip]

http://www.citywire.co.uk/money/selling-your-house-an-expensive-move-in-a-failing-market/a456317?ref=citywire-money-latest-news-list

If there was a lesson from the property market in 2008/2009 it was that a bubble in the UK makes a different sound when it pops to its US or Irish counterpart. Yes, prices fall. And, yes, in some places they fall significantly. But the drama, here, is played out in volume. Simply put, people all but stopped buying houses, and – despite much recent crowing about more enthusiastic lending in November (LSL figures suggested a minor thaw after an appalling October) – this year has seen roughly half the number of transactions compared to 2006, and tough new lending rules aren’t likely to ease the situation into 2011. Worse still (for the market), while property prices are falling, the cost of moving is rising.

[Pent Up]

while property prices are falling, the cost of moving is rising

How does that work then?

Less EA commission when selling, potentially less stamp duty, less survey costs, and cheaper to upsize.

[cakehead]

There's no pressure for people to buy or sell. Perhaps we're seeing an end to a mass housing market and the beginning of a new era?

Edited December 10, 2010 by cakehead

[Pent Up]

There's no pressure for people to buy or sell. Perhaps we're seeing an end to a mass housing market and the beginning of a new era?

At least there would be a lot less parasites... I mean estate agents... about.

Edited December 10, 2010 by Pent Up

[cakehead]

At least there would be a lot less parasites... I mean estate agents... about.

I've always believed the turnover in houses to be based largely on novelty. Thirty years+ ago children shared a bedroom and parents had lifestyles that fit their accommodation. Their first house was often their only house. Low sales volumes may be the first step to weaning everyone off the home as a trading commodity. The ladder of aspiration is a marketing invention, like 'entry level' products and 'starter homes'.

[Selling up]

I've always believed the turnover in houses to be based largely on novelty. Thirty years+ ago children shared a bedroom and parents had lifestyles that fit their accommodation. Their first house was often their only house.

Living ones life in the same house depends on stability of employment. We won't be going back to that world any time soon.

[kingsgate]

I've had my place for 11 years, and I cannot see myself selling it for .... ever, really.

I work for myself, as well as doing some BTLs, so I am not subject to the whims of an employer, so I won't have to move. Unless the economy totally collapses and society breaks down, of course. Which is a possibility.