long time lurking Posted May 26, 2011 Share Posted May 26, 2011 Definitely a two tier market staring to develop at quite a pace around my way with similar properties on the same road having 30%+ difference in price The tide has started to go out and you can now see who has no clothes ,and the tide is going to be ebbing for a few more years yet Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 26, 2011 Share Posted May 26, 2011 Definitely a two tier market staring to develop at quite a pace around my way with similar properties on the same road having 30%+ difference in price The tide has started to go out and you can now see who has no clothes ,and the tide is going to be ebbing for a few more years yet How are sellers justifying this? extra bathroom, boll*cks like that? Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted May 26, 2011 Share Posted May 26, 2011 Im looking to buy in Lymington, Hampshire. Not much evidence of any house price falls or of any build up in unsold properties, http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=so41 Unless and until we get significant increases in interest rates and many more repossessions then we're looking at the "slow speed" version of the crash, stretching out over many years with inflation doing much of the neccessary correction. I sold to rent at the back end of 2005, and have kept the HPC faith for over five years, expecting each year might bring the 20%+ nominal declines. Not happened so far, unlikely in 2011, maybe in 2012? Last 3 months for 'All' Jan £349,720 (29) Feb £324,675 (43) Mar £299,031 (16) Quote Link to comment Share on other sites More sharing options...
silver surfer Posted May 26, 2011 Share Posted May 26, 2011 (edited) Last 3 months for 'All' Jan £349,720 (29) Feb £324,675 (43) Mar £299,031 (16) Compare those three months with the same three months from the previous year, 88 sold this year, 87 sold last year. And for detached family homes in the best part of Lymington it's a tighter story still. Hey, I've STR'd for five years and I've got 18 months before I take early retirement, so no rush to buy yet. But from where I'm looking from this crash is proceeding at a snail's pace. My view is that if we get widespread repossessions and big interest rate hikes then nominal house prices will tumble quickly, but if not they won't. Edited May 26, 2011 by silver surfer Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 26, 2011 Share Posted May 26, 2011 Compare those three months with the same three months from the previous year, 88 sold this year, 87 sold last year. And for detached family homes in the best part of Lymington it's a tighter story still. Hey, I've STR'd for five years and I've got 18 months before I take early retirement, so no rush to buy yet. But from where I'm looking from this crash is proceeding at a snail's pace. My view is that if we get widespread repossessions and big interest rate hikes then nominal house prices will tumble quickly, but if not they won't. You are in one of the most affluent counties in the country? don`t think you have ringside tickets to armaggedon/mad max returns somehow. Detached family homes in Lymington are not going to lead the charge down, unless there has been serious Mewing/overborrowing? Quote Link to comment Share on other sites More sharing options...
rentforlife Posted May 26, 2011 Share Posted May 26, 2011 You are in one of the most affluent counties in the country? don`t think you have ringside tickets to armaggedon/mad max returns somehow. Detached family homes in Lymington are not going to lead the charge down, unless there has been serious Mewing/overborrowing? Same boat here - Sussex based. Asking prices still increasing, not going down...also we need to see more coming onto market & there is same as last year. Also think very little construction there is very little surplus... Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 26, 2011 Share Posted May 26, 2011 (edited) Same boat here - Sussex based. Asking prices still increasing, not going down...also we need to see more coming onto market & there is same as last year. Also think very little construction there is very little surplus... I think people in decent detached houses who can afford to stay will do so in greater numbers from now on? Even in the south of England the days of people queuing to pay bubble prices are over?The high asking price is the final bastion of denial? Not so good if someone needs to move for work, but better than a city centre "executive" new -build nightmare? Of course on the other hand if someone has a really desireable house to sell they may be able to sit it out at bubble prices, and even get bubble prices, but eventually the crash will feed through to all levels of the market? Edited May 26, 2011 by dances with sheeple Quote Link to comment Share on other sites More sharing options...
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