Ketterinboy Posted February 8, 2006 Share Posted February 8, 2006 I have been watching asking prices rise for the last 5 - 6 weeks now, whats going on???? Im feeling very concerned as i nearly brought a property in November 2005, but did not offer enough as i thought there maybe a downturn in HP soon, but now they appear to be rising again and we are talking sharply! November's AP for 2 Bedroom Terrace (Modern) £109k now we looking at £115k! Im very very concerned as i am not far off getting on the ladder for the first time, but if they continue to rise, ill be a rent boy forever! Quote Link to comment Share on other sites More sharing options...
?...! Posted February 8, 2006 Share Posted February 8, 2006 (edited) 5-6 weeks? Whats the rush? Why would you take on a 20 year debt based on 5-6 weeks of data? Are you mad? 20 years thats 1040 weeks. You should be looking at the last 2080 weeks of data before you decide where the market is goin. 5-6 weeks? Edited February 8, 2006 by ?...! Quote Link to comment Share on other sites More sharing options...
Fudge Posted February 8, 2006 Share Posted February 8, 2006 I have been watching asking prices rise for the last 5 - 6 weeks now, whats going on???? Im feeling very concerned as i nearly brought a property in November 2005, but did not offer enough as i thought there maybe a downturn in HP soon, but now they appear to be rising again and we are talking sharply! November's AP for 2 Bedroom Terrace (Modern) £109k now we looking at £115k! Im very very concerned as i am not far off getting on the ladder for the first time, but if they continue to rise, ill be a rent boy forever! I look on Rightmove every day for the NN14 area upto 120K and the local ET on a Wednesday and what I am seeing is that most of the new instructions for FTB type properties are coming onto the market at higher prices but are not selling. Some FTB properties that have been on the market for a while and have reduced their prices seem to be SSTC but who knows how much has been knocked off asking price. I have noticed more activity in the Estate Agents but that is compared to before Xmas when they always seemed to be empty. I am keeping a close eye on things, does seem to be ticking over at the moment but lets see what the spring brings. Quote Link to comment Share on other sites More sharing options...
Ketterinboy Posted February 8, 2006 Author Share Posted February 8, 2006 Im looking for KLV area and it seems to me that they just want to ask more and more! One SSTC last month and the asking price was £119,995, i wonder what they sold it for! Quote Link to comment Share on other sites More sharing options...
Badlad1967 Posted February 8, 2006 Share Posted February 8, 2006 Hi Ketterinboy 6 weeks of data and you're thinking of buying in a market that is (most probably) teetering on the brink on the great abyss... Please remember the choice is yours and yours alone to make. Don't listen to family saying "You'll miss the boat" and "Buy before it's too late..." BLAH BLAH BLAH..... If prices keep rising no one will be able to afford property - this totally blows the "you'll miss the boat" argument right out of the water (oh I like that!!! ) Please remember that many people make a good living out of being a rent boy, but I suggest you move closer to the Lib Dem HQ Quote Link to comment Share on other sites More sharing options...
echo3 Posted February 17, 2006 Share Posted February 17, 2006 I look on Rightmove every day for the NN14 area upto 120K and the local ET on a Wednesday and what I am seeing is that most of the new instructions for FTB type properties are coming onto the market at higher prices but are not selling. I've been looking around Desborough and Rothwell, admittedly slightly higher up the housing ladder, but also looking at some arounf £130K for bargains to develop (btw - haven't found one!). I've been keeping a keen eye on Rightmove and notices the following; - a lot of the houses that were on there in Nov 05 when I started looking are still there. - asking prices were reduced just after Xmas by many sellers, but it hasn't made a lot of difference. - ET continue to tell me the market is buoyant. - a good example is this one here that was on for £134,950 before Xmas. I got a call from an agent in January saying it was a developer that had taken the house part-ex and had reduced to £129,950 and would accept offers. This was an agent knowing I would probably not offer more than £120,000 for it (to avoid stamp duty). I strongly suspect that when it shows on the the Land Registry database someone will have snapped a bargain. My take on this is that there are more properties coming on to the market, but the lack of FTB'ers is causing chains to lock. FTB'ers are waiting for a good deal to come along and watching the market and prices falling slowly. My advice - don't rush in unless you have to. And make silly low offers when you do. Although I wouldn't worry overly of a big crash in this area as prices are cheaper here anyway (for example the houseprices in Corby have done well last year despite being stagnant in the East Midlands generally). Quote Link to comment Share on other sites More sharing options...
othello Posted February 17, 2006 Share Posted February 17, 2006 (edited) In the housing market, asking prices are always at their highest at the start of the new year and at their lowest towards the end of the year. So any upturn in asking prices now is probably a reflection of the normal seasonal variation. Whether people buy or not is another matter. I'd definitely hang on until late summer before making any decision. Edited February 17, 2006 by othello Quote Link to comment Share on other sites More sharing options...
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