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The Masked Tulip

House Prices Fall For 15Th Consecutive Month Amid Warnings Slump Will Continue

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Hometrack’s monthly housing market figures, meanwhile, are based on the views of estate agents and surveyors across Wales and England and what they believe is the achievable selling price of properties in every postcode district.

The survey does not release an average house price figure and is intended as a “snapshot” of the current market.

Richard Donnell, Hometrack research director, said: “The September survey shows a clear shift in the balance between supply and demand in the housing market, with the number of people looking to buy falling for the second month in a row.

“This is in contrast to the first half of the year, when demand had been steadily rising.”

North Wales estate agent Dafydd Hardy said the picture created by the survey was not entirely reflective of how Wales’ housing market was faring.

He said: “There was a recent survey only a couple of days ago which Wales actually came out quite well in compared with the rest of the UK as far as prices were concerned.

“Certainly in our area there was a rise of 1.3% and I think Wales is looking prettier than the rest of the country.”

He added: “The frustrating thing is that people still have expectations, and these are not being realised in the market. Some of them are in the situation where they cannot bring the price down because they will receive less than they paid for it but what we are saying is that this can be balanced if they manage to reduce the price on the next property if they are in a chain. What we are finding is that clients who are putting prices at a much more realistic level are selling.”

Delyth Davies, a partner at Clee Tomkinson Francis in Carmarthen, said: “Those that are realistically priced are still getting lots of interest and some with multiple offers.

“Those properties with something different to offer, such as unique views or large gardens, are still moving and so there’s definitely positives being seen.

“That said, we mustn’t lose sight of the fact that we still face a long hard time of it.

“Some of the new properties coming on are being more realistic, especially those who want to move on due to outside factors and although they’re selling for less, they’re then buying for less so it’s balancing.”

Read More http://www.walesonline.co.uk/news/wales-news/2011/10/03/house-prices-fall-for-15th-consecutive-month-amid-warnings-slump-will-continue-91466-29526380/#ixzz1ZiAdcSvn

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He added: “The frustrating thing is that people still have expectations, and these are not being realised in the market. Some of them are in the situation where they cannot bring the price down because they will receive less than they paid for it but what we are saying is that this can be balanced if they manage to reduce the price on the next property if they are in a chain

Surrrreee. Good luck getting a mortage. You won't.

There a simply a whole bunch in neg equity who cannot sell FULL STOP. They have to ask for more than they can actually get. We can't forget this growing number, most of whom are FTBers int he last five years.

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Surrrreee. Good luck getting a mortage. You won't.

There a simply a whole bunch in neg equity who cannot sell FULL STOP. They have to ask for more than they can actually get. We can't forget this growing number, most of whom are FTBers int he last five years.

make that last 7 years

no 8

no, it keeps going up as house prices continue crashing

9 years now, and going...

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Surrrreee. Good luck getting a mortage. You won't.

There a simply a whole bunch in neg equity who cannot sell FULL STOP. They have to ask for more than they can actually get. We can't forget this growing number, most of whom are FTBers int he last five years.

Bad luck for them but I'd be surprised if they make up more than 10% of the total number of home'owners'... probably more like half of that amount.

To be honest if they bought since mid 2007 they really have no excuses for the mess that they now find themselves in.

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Surrrreee. Good luck getting a mortage. You won't.

this growing number, most of whom are FTBers int he last five years.

FTB in last 5 years == "OTB" only/one time buyer, someone who will never be able to afford to move.

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FTB in last 5 years == "OTB" only/one time buyer, someone who will never be able to afford to move.

depends on the generosity of BoMaD

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make that last 7 years

no 8

no, it keeps going up as house prices continue crashing

9 years now, and going...

Correct.

Last week's Nationwide monthly data also coincided with their quarterly release. That includes updates on house prices re inflation - by their data prices in real terms are back to mid 2003 and, we are in real terms below the 2009 pre-deadcat bounce lows (space now follows for comments about salaries not rising above inflation:

)

Edited by rantnrave

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FTB in last 5 years == "OTB" only/one time buyer, someone who will never be able to afford to move.

Sad thing is the nutters are still out there buying believing prices only ever go up, despite the fact that prices are falling and the global economy is wobbling along a cliff edge.

Heard back from a friend recently who has now bit the bullet on a new built flat, egged on by Mom & Pop, 20% deposit handed over by the Govt. via another crackpot FTB scheme (basically an interest free load for five years). This place will most likely become her tomb, especially if she ends up with some riff-raff in the adjoining flats courtesy of the social housing programme for new builds.

She believed she was missing the boat and her parents were chanting the age old codswallop of "you cannot go wrong with bricks and mortar."

All aboard HMS Negative Equity...

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Bad luck for them but I'd be surprised if they make up more than 10% of the total number of home'owners'... probably more like half of that amount.

To be honest if they bought since mid 2007 they really have no excuses for the mess that they now find themselves in.

Looked at the figures a while ago and can't remember exactly but that sounds about right i.e. so few it negates the argument that many sellers can't afford to drop their price.

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Sad thing is the nutters are still out there buying believing prices only ever go up, despite the fact that prices are falling and the global economy is wobbling along a cliff edge.

House Price will go up. Over along enough time frame. For example, in 10 years, house prices may have recovered to current levels. Especially with inflation running at about 10% a year.

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House Price will go up. Over along enough time frame. For example, in 10 years, house prices may have recovered to current levels. Especially with inflation running at about 10% a year.

10% a year inflation? Where did that figure come from?

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House Price will go up. Over along enough time frame. For example, in 10 years, house prices may have recovered to current levels. Especially with inflation running at about 10% a year.

Cannot argue with that TBH but buying in and taking a 50% haircut leaving yourself screwed and reliant on 10 years of rises to break even isn't exactly a sound move IMO.

It doesn't cost a lot to sit on the sidelines but jumping in and calling it wrong can be very costly indeed. I'm in the inflation camp myself but for that to work with housing wages are going to have to rise significantly, over and above any house price rises as housing in the UK is already 40% over valued.

Lots of reasons to stay away but only one to jump in - general inflation along with massive wage inflation, we are not seeing the second one yet, at least not in the private sector.

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House Price will go up. Over along enough time frame. For example, in 10 years, house prices may have recovered to current levels. Especially with inflation running at about 10% a year.

That 10% inflation could also obliterate remaining earnings related and savings related expenditure, making current prices even more unaffrodable.

Couldn't happen? It could if the backdrop were a woefully uncompetive economy with millions/billions of less strapped workers worldwide could could live off a fraction of the wages over here (and other places) and work that could be easily transported across the globe thanks to effectively borderless trading in goods and services.

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I'm not seeing prices drop in Bristol.

Infact anything half decent 3 bed that comes on in the £160-£180k bracket seems to be selling very fast at the moment. Bristol perhaps hasn't been hit as hard with unemployment as many other areas, so I'm beginning to think we won't see big drops in Bristol.

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I was in the BS8 area on Saturday. Very nice place indeed. Just checked Zoopla and prices are down 0.71% there on the year supposedly. Not surprised you aren't seeing drops - at that rate they are barely visible to the naked eye - but DROP THEY WILL.

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I'm not seeing prices drop in Bristol.

Infact anything half decent 3 bed that comes on in the £160-£180k bracket seems to be selling very fast at the moment. Bristol perhaps hasn't been hit as hard with unemployment as many other areas, so I'm beginning to think we won't see big drops in Bristol.

I understand your sentiment here, Chala, but we have not reached the absolute fear and wipe-out phase, which is just around the corner. Make no mistake, there's gonna be meyhem and misery, and the only way to buy will be with cash. Job losses will soar, earnings crash and house prices will follow.

It's all based on the 'Bond Bubble', and when that bursts........run!!

I cannot think of a time when all the economic indicators look so bad. £160-180K will seem a lot of money, and a heck of a lot of people are gonna' be left on a spike if they buy with a mortgage now.

Watch this space.

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I 5odding wish I lived in Wales or LLyttle Buphuck or somesuch where there is space, countryside and where house prices were falling.

Spare a thought for those in crowded corners of the south east where house prices are high and rising, and it is so overcrowded and you can't park and if you can you know without doubt you will get your wing mirrors knocked off by a fully paid up mumsnet contributor unloading three screaming kids into her half million pound tiny three bed terrace. You don't know you are born Welshmen. Stop whining!

To misquote your patron saint Dylan Thomas,it is "Brighton, the graveyard of ambition" , I'm telling you.

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I 5odding wish I lived in Wales or LLyttle Buphuck or somesuch where there is space, countryside and where house prices were falling.

Spare a thought for those in crowded corners of the south east where house prices are high and rising, and it is so overcrowded and you can't park and if you can you know without doubt you will get your wing mirrors knocked off by a fully paid up mumsnet contributor unloading three screaming kids into her half million pound tiny three bed terrace. You don't know you are born Welshmen. Stop whining!

To misquote your patron saint Dylan Thomas,it is "Brighton, the graveyard of ambition" , I'm telling you.

Work on getting yourself out of location dependency. You might not be awa well paid but you may get a lot more from your work / life and a better balance too.

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I understand your sentiment here, Chala, but we have not reached the absolute fear and wipe-out phase, which is just around the corner. Make no mistake, there's gonna be meyhem and misery, and the only way to buy will be with cash. Job losses will soar, earnings crash and house prices will follow.

It's all based on the 'Bond Bubble', and when that bursts........run!!

I cannot think of a time when all the economic indicators look so bad. £160-180K will seem a lot of money, and a heck of a lot of people are gonna' be left on a spike if they buy with a mortgage now.

Watch this space.

I will Dave. But what do you know that I don't that makes you think this will happen here though? No signs at all yet, despite our mutual expectation and the evident clulessness of the chinless chancellor and his mate at the BoE. If not so far, then when? Why UK particularly? Because of the total amount of debt, particularly private debt when aded to corporate + government debt, or what?

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Work on getting yourself out of location dependency. You might not be awa well paid but you may get a lot more from your work / life and a better balance too.

Good advice, but not so easy with Mrs Slinger being in niche occupation and no work prospects for either of us elsewhere. If only. Believe me, like so many other lost souls in this sad land, this isn't what I'd planned. I'd happily take income cut if viable.

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I will Dave. But what do you know that I don't that makes you think this will happen here though? No signs at all yet, despite our mutual expectation and the evident clulessness of the chinless chancellor and his mate at the BoE. If not so far, then when? Why UK particularly? Because of the total amount of debt, particularly private debt when aded to corporate + government debt, or what?

Government spending depends on selling bonds to China etc, because tax receipts do not meet expenditure. But domestic pressure in China etc will switch this bond buying to the development of their own infrastructure. Governments will abandon buying our (western debt) bonds.

So how do we service our debts ?....increase interest rates, in the hope we can sell more bonds. Result: strangled Western economies.

Everything will collapse.

And it will be made worse, because we allowed the coal mines and industries to go, and gave in to the feckless lazy workshy demands, for a similar standard of living to those in work.

We are foooked.

(Unless we can hit oil in the Falklands)

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I 5odding wish I lived in Wales or LLyttle Buphuck or somesuch where there is space, countryside and where house prices were falling.

Spare a thought for those in crowded corners of the south east where house prices are high and rising, and it is so overcrowded and you can't park and if you can you know without doubt you will get your wing mirrors knocked off by a fully paid up mumsnet contributor unloading three screaming kids into her half million pound tiny three bed terrace. You don't know you are born Welshmen. Stop whining!

To misquote your patron saint Dylan Thomas,it is "Brighton, the graveyard of ambition" , I'm telling you.

When times get hard.....being in a less stress free location, around nature with space, less traffic congestion and with a close community feel will help...we may all be feeling the pain together, but little things can help to make it not so painful. ;)

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  • 284 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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