Saving For a Space Ship Posted December 18, 2017 Share Posted December 18, 2017 Desperate UK homeowners are cutting prices, says Zoopla https://www.theguardian.com/business/2017/dec/18/desperate-uk-homeowners-are-cutting-prices-warns-zoopla Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted December 18, 2017 Share Posted December 18, 2017 Quote “We see house prices rising a modest 2-3% in 2018,” said Howard Archer, chief economic adviser to the forecasting group, the EY Item Club. “The fundamentals for house buyers are likely to remain challenging over the coming months with consumers’ purchasing power continuing to be squeezed by inflation running higher than earnings growth. Additionally, housing market activity is likely to be hampered by fragile consumer confidence and a limited willingness to engage in major transactions.” "Things are terrible, but we'll just make up a positive number anyway." Quote “Those on the look-out for a bargain should consider looking in Camberley or Kingston upon Thames in the south..." Bargain? Not yet mate. Quote Link to comment Share on other sites More sharing options...
BearsEye Posted December 18, 2017 Share Posted December 18, 2017 So prices still going up they claim, dropping from some utterly insane asking price to a mere ludicrous one doesn't excite me too much. Love the way the journalist of that vile rag blames Brexit for their own family and friends not being able to get the free money they deserve. Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted December 18, 2017 Share Posted December 18, 2017 When sellers have dropped prices 35% (rather than 35% of sellers are dropping prices) then we might be able to consider things to be bargains. Quote Link to comment Share on other sites More sharing options...
juvenal Posted December 18, 2017 Share Posted December 18, 2017 Heard this twice on the news this morning. Got to be good. Drip, drip, drip.... Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted December 18, 2017 Share Posted December 18, 2017 Round here they are changing prices from offers in the region of (for example) 425-450k to offers over 425K. Presumably to make people understand the 425 is just to appear cheaper in the search......not a price to be negotiated. There are few things I hate more than looking at a 375k house thinking hmmm been for sale for nearly a year methinks 300-330 offer might be considered.....to then click and it's 375-400 which Rightmove et all should not allow (maybe put on the search and list at the top of the band). Houses are clearly not selling well in my area on for a year > portal juggle a bit > take off > put on again > change agent > New photos etc etc etc Anything but put on for the same price as the last one sold for Quote Link to comment Share on other sites More sharing options...
Calcutta Posted December 18, 2017 Share Posted December 18, 2017 Noticed over the weekend that in the confines of my very particular rightmove search one place has finally been reduced, 9%, it's a start. Up till now it's been months of fake SSTC and little agent relisting, delisting, tricks. This was the first solid reduction. They've blinked first. Game on. Quote Link to comment Share on other sites More sharing options...
Nabby81 Posted December 18, 2017 Share Posted December 18, 2017 http://www.dailymail.co.uk/money/mortgageshome/article-5190193/More-homes-price-slashed.html The Mail take on it Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 18, 2017 Share Posted December 18, 2017 2 hours ago, Fromage Frais said: Round here they are changing prices from offers in the region of (for example) 425-450k to offers over 425K. Presumably to make people understand the 425 is just to appear cheaper in the search......not a price to be negotiated. There are few things I hate more than looking at a 375k house thinking hmmm been for sale for nearly a year methinks 300-330 offer might be considered.....to then click and it's 375-400 which Rightmove et all should not allow (maybe put on the search and list at the top of the band). Houses are clearly not selling well in my area on for a year > portal juggle a bit > take off > put on again > change agent > New photos etc etc etc Anything but put on for the same price as the last one sold for Simple explanation. 20% down, max 4 time household minus any regular expenditure. MMR PRA. Quote Link to comment Share on other sites More sharing options...
thewig Posted December 18, 2017 Share Posted December 18, 2017 I thought MMR had been cleverly circumvented by the DEBTpushers by extending terms to 30/35year standard Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted December 19, 2017 Share Posted December 19, 2017 23 hours ago, Saving For a Space Ship said: Desperate UK homeowners are cutting prices, says Zoopla https://www.theguardian.com/business/2017/dec/18/desperate-uk-homeowners-are-cutting-prices-warns-zoopla I'd argue that desperate home owners/EA/bankers pushed prices up, trying to get untaxed unearned unproductive money because they cant make an honest living off their own skills and knowledge. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted December 19, 2017 Share Posted December 19, 2017 13 hours ago, thewig said: I thought MMR had been cleverly circumvented by the DEBTpushers by extending terms to 30/35year standard and pushing BTL mortgages onto people who dont own houses. Quote Link to comment Share on other sites More sharing options...
houseface2000 Posted December 19, 2017 Share Posted December 19, 2017 Headline should read 3rd of homeowners dropping asking prices just like last year as agents overvalue to get instruction! Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 19, 2017 Share Posted December 19, 2017 15 hours ago, thewig said: I thought MMR had been cleverly circumvented by the DEBTpushers by extending terms to 30/35year standard I sought of a struggle when the a FTB is 35+. My bench mark lender, HSBC, is reluctant to offer a mortgage that goes over 65. Some smaller ones might. Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted December 19, 2017 Share Posted December 19, 2017 19 hours ago, spyguy said: Simple explanation. 20% down, max 4 time household minus any regular expenditure. MMR PRA. 4x well off Norfolk household (35k + 25k) = 240 / 80 x 100 = 300 That's peak household wealth I do not think any area has a household wealth av over 60 in Norfolk. Affordable at current ir's 300 - 350 as per anecdotal everyone asking for 400K+ but unless parents fork it out its a no go. Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 19, 2017 Share Posted December 19, 2017 1 hour ago, Fromage Frais said: 4x well off Norfolk household (35k + 25k) = 240 / 80 x 100 = 300 That's peak household wealth I do not think any area has a household wealth av over 60 in Norfolk. Affordable at current ir's 300 - 350 as per anecdotal everyone asking for 400K+ but unless parents fork it out its a no go. Id guess those household are commuting, so knock 12k off. Quote Link to comment Share on other sites More sharing options...
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