Jump to content
House Price Crash Forum
Sign in to follow this  
Mikhail Liebenstein

House Price Expectations

Recommended Posts

Guys don't flame me for this, as I know talk of rising house prices can be heresy on this board. Just a personal observation on the Zoopla figures, which I know are only estimates based on recent transactions of other properties.

Having STRed in 2007, and bought at the bottom of 2009 for £750k, Zoopla is now calling my house at £983k.  Meanwhile one neighbour has now gone over the £1m.

Given the state of the economy I do find this bizarre, but I am wondering if all the printy printy is forcing up prices in areas commutable to to London.

My gut feeling is real prices are still falling, but the printy printy has accelerated all prices in the economy except perhaps wages, which still lag in their catch up. Meanwhile the Sheeple are out borrowing stupidly large sums again in the belief all is well for the future.

It seem credit availability is more important than earnings once again.

It really is crazy.

Edited by Mikhail Liebenstein

Share this post


Link to post
Share on other sites

You have to take zoopla estimates with a bucket if salt! I've seen houses that appear to be ridiculously over valued as well as some that seem to be quite undervalued (or about right as I like to call it!)

Check the land registry index for your post code and see if that warrants so a huge increase in your homes valuation.

Share this post


Link to post
Share on other sites

It's because the SE housing market is lead by novelty. Instead of the protracted downturn taking years to pan out many of us expect, the media-lead southeasy believe the recession was that blip between '08 and '09.

Having said that a family member who works in the city says it's been like a bloody beano since the summer and business is booming.

Share this post


Link to post
Share on other sites

Also check out the Property Snake website. In this area, London N10, there's very little on the market, but there are enough regular reductions in price to suggest that prices are under pressure and few sales are going through.

Share this post


Link to post
Share on other sites

Guys don't flame me for this, as I know talk of rising house prices can be heresy on this board. Just a personal observation on the Zoopla figures, which I know are only estimates based on recent transactions of other properties.

Having STRed in 2007, and bought at the bottom of 2009 for £750k, Zoopla is now calling my house at £983k.  Meanwhile one neighbour has now gone over the £1m.

Given the state of the economy I do find this bizarre, but I am wondering if all the printy printy is forcing up prices in areas commutable to to London.

My gut feeling is real prices are still falling, but the printy printy has accelerated all prices in the economy except perhaps wages, which still lag in their catch up. Meanwhile the Sheeple are out borrowing stupidly large sums again in the belief all is well for the future.

It seem credit availability is more important than earnings once again.

It really is crazy.

These and other websites prices are automatically generated. They can be wildly out for many reasons. DO NOT RELY ON THEM. Only the real market will tell you for an individual property and like homes sold recently for identiboxes.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.