aussie lad Posted November 27, 2005 Share Posted November 27, 2005 I used to contribute to various forums in Australia but found that there was too much evidence being taken from anecdotes, media and heresay. So to get a more accurate picture of what level the crash is at I set about tracking the number of properties for sale and average asking prices from internet property websites. What this shows is that there are many areas in Australia where the number of properties for sale has been rising constantly for the last 2 years (when I started this). There are also a few areas where the properties available has been dropping. These areas seem to coincide with the areas that are still apparently booming (ie WA, Darwin, and some regional Qld mining areas) according to mainstream opinion (doesnt mean they wont eventually fall, but thats where the money is, thanks to the commodities boom). What I was wondering is, does anyone keeps track of properties in the UK in a similar way. I started to do it but keeping track of one country is keeping me busy enough so I figured I would ask here. Hearing that there are plenty of for sale signs up is all well and good but its not exactly hard evidence. Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted November 27, 2005 Share Posted November 27, 2005 (edited) What I was wondering is, does anyone keeps track of properties in the UK in a similar way. I started to do it but keeping track of one country is keeping me busy enough so I figured I would ask here. Hearing that there are plenty of for sale signs up is all well and good but its not exactly hard evidence. Totally agree (but then I'm australian - I think we have a numbers thing going on). I tried for a while but it got really boring. I was keeping tabs on the really crappy stuff cause I reckon that is where the firsts will be. The listings rocketed (doubled - in London they went from 700-800 to 1800) after a big Trevor Macdonald piece "repossession, repossession, repossession" The settled back down three months later and have remained pretty steady. What is more interesting the the numbers on the market that are going no-where. A property I was keen on was originally listed (about 12 months ago) for 129K, and then was reduced to 125K. I tried to put in an offer (111K) that was above what the guy would take now on the place (109K reserve) and I was totally rebuffed at the time by the estate agent (Halifax) who wouldn't even put the offer through ("We have an ACCEPTABLE offer on that property") it was taken off the site and reappeared 3 days later. It is back on the market for 115K with another agent, but I wouldn't even offer 109 now, because it got passed in 89K at auction and I reckon its the poison challice of properties! The guy has been waiting 12 months and he could have sold it to me 6 months ago. SUCKER!!! EDIT: and that is why I came here. To lick my wounds because the nasty people wouldn't sell it to me. Bit of luck eh? Edited November 27, 2005 by Elizabeth Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted November 28, 2005 Share Posted November 28, 2005 and that is why I came here. To lick my wounds because the nasty people wouldn't sell it to me. Bit of luck eh? A blessing in disguise I would say. The fact is the vendor is thinking in terms for monopoly money, you have to think in terms of real money or real debt that actually has to be repaid (and then some). People have lost the plot when it comes to the value of money, a simple way to bring them back down to earth is to ask them whether they could reafford their own home at current prices? Quote Link to comment Share on other sites More sharing options...
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