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Come On Down

They're Not Selling

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Festive Greetings to y'all of great wisdom.

Great website, been reading the forums most days (sad) and like most people on here I cannot afford to

move up despite my salary nearly doubling since I bought my house in 1999.

I've developed a sad obsession - thanks to you guys - with house prices and the economy. I've also

learnt a great deal from this site about them as well.

Anyway, after trawling http://www.houseprices.co.uk in my local area - sp2 in Salisbury, I've noticed that the number of house sold in the last 2 months is LESS THAN 50% of the average number sold in October and November during the past 5 years. Personally I think this is unbelievable.

Now, how on earth can houses maintain they're high prices if no-one is buying?? Isn't it supply and demand?

Surely those in the know have access to this data and can work out that when the average house prices is 5.5 times average salary, and banks will only lend you 3.5, they must come down?

Its nice to come on this site for some sanity.

All of the pundits who have recently said that a HPC didnt happen in 2005. Dont they realise that it will probably take 2/3 years?

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Festive Greetings to y'all of great wisdom.

how, how on earth can houses maintain they're high prices if no-one is buying?? Isn't it supply and demand?

Surely those in the know have access to this data and can work out that when the average house prices is 5.5 times average salary, and banks will only lend you 3.5, they must come down?

If the people selling cannot reach the right price, they cannot afford a there next house so they stay where they are - no point dropping the price 50k and being homeless.

You need forced sales for prices to drop.

Daniel.

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Yeah, since I moved a few months ago I've been driving past a house every day on the way to work that's up for sale: nice area, decent house, but I'd guess about quarter of a million pounds overpriced.

Last week I was surprised to see it was 'Sold' (subject to contract). Yesterday it was back 'For Sale' again, obviously having fallen through.

And the house across from where I work has now been on the market for close to two years, 'Sold' three times without completing and still trying to find a real buyer. Again, probably because it's a decent house in a chav-filled estate that's about two hundred thousand pounds overpriced... I'm actually shocked at how chavified the area has become in the few years I've been working there.

Edited by MarkG

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Yeah, since I moved a few months ago I've been driving past a house every day on the way to work that's up for sale: nice area, decent house, but I'd guess about quarter of a million pounds overpriced.

Last week I was surprised to see it was 'Sold' (subject to contract). Yesterday it was back 'For Sale' again, obviously having fallen through.

And the house across from where I work has now been on the market for close to two years, 'Sold' three times without completing and still trying to find a real buyer. Again, probably because it's a decent house in a chav-filled estate that's about two hundred thousand pounds overpriced... I'm actually shocked at how chavified the area has become in the few years I've been working there.

There's a house for sale next door but one to me. It's an executor's sale and has been 'sold' three times in the last year but hasn't ever gone through. It needs everything doing to it and is a big house on a big plot of land in a great area with excellent schools. It's still, I reckon, about 200,000 over-priced, despite coming down by 40,000 in the last year. I heard from my neighbour that several property developers have looked at it but can't make the figures work - wouldn't be able to get high enough rent after they purchased it and did it up. So, it sits empty and deteriorating month after month after month. It's a great family house that has only ever had one lady living in it. For the sake of cashing in on her death to maximise inheritance (money for nothing!?) no-one is able to live there. But that's OK. According to the Independent, rising house prices are a Good Thing! Best keep them over-priced and empty than turning over quickly in a healthy, happy market eh?!

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The 50% phenomenon means nothing. Transactions take considerable time to get recorded on sites like nethouseprices. If you check back in 6 months time, the transactions will have risen.

This maybe true, good point. But the number of property transactions at their lowest for 30 years or something?

Like MarkG and many others, around my way, brilliant location for centre of salisbury, houses have been

on the market for quite literally MONTHS. Ok some are selling, but some people have more money than sense.

Soft landing is a term the media will use whilst its happening as it wont appear as a crash. In 10 years it will be a crash, though low interest rates will stop it coming down too drastically.

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  • 301 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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