Jump to content
House Price Crash Forum

Am I a dreamer? Will house prices come down?


Recommended Posts

  • Replies 173
  • Created
  • Last Reply

Top Posters In This Topic

We pulled out on a property purchase as Covid hit, sure that prices would fall. What a mistake that was. 
 

Our rental property is up for sale, we have a baby on the way, and are now again looking to buy. Prices higher than they were a year ago; it’s ridiculous. I’m hoping they drop in the next couple of months. 
 

Very few properties coming up on the south coast in comparison to previous months. Looks like lots of competition for the very few houses coming up too... 
 

 

Link to post
Share on other sites
1 hour ago, Rachel88 said:

Are the house prices going to come down?

I feel like I've been waiting forever and they just keep going up, up and up.

People have been putting an extra £30k/£40k on their houses, over the past few months. 

 

Stamp duty holiday ending should provide a nice “cliffedge”. Will be interesting to see what happens about 3 months after this date. The Miras withdrawal deadline in Sept 1988 basically crashed the market within months and it didnt recover for 10 years. But then back then there were no bailouts. 

Link to post
Share on other sites
7 minutes ago, OceanVibe said:

We pulled out on a property purchase as Covid hit, sure that prices would fall. What a mistake that was. 
 

Our rental property is up for sale, we have a baby on the way, and are now again looking to buy. Prices higher than they were a year ago; it’s ridiculous. I’m hoping they drop in the next couple of months. 
 

Very few properties coming up on the south coast in comparison to previous months. Looks like lots of competition for the very few houses coming up too... 
 

 

Yes. I'm in a similar situation. I had put offer in on a house just before Covid, unfortunately I wasnt successful. But now they are ridiculous prices and not particularly nice. 

Fingers crossed they do drop. It might be best for us to wait until fulough ends in March. Hopefully the flat your in doesn't sell or it takes ages for the sale to go through.

Link to post
Share on other sites
1 minute ago, markyh said:

Stamp duty holiday ending should provide a nice “cliffedge”. Will be interesting to see what happens about 3 months after this date. The Miras withdrawal deadline in Sept 1988 basically crashed the market within months and it didnt recover for 10 years. But then back then there were no bailouts. 

Yes I'm hoping this will help and furlough ending. Fingers so tightly crossed. 

Mine and my partners wages would not be able to take a rate increase (if it ever did rise) if we buy now we are buying at sky high prices, honestly people have been putting £30-£50k on top of last years prices.

Sometimes feel like getting a tent and buying a piece of land in france.

I just hope Rishi and co. Dont slash the stamp duty again. I think this is why people have been adding more money on to the valuations.

Link to post
Share on other sites
27 minutes ago, Twenty Something said:

I’m assuming by posting here you’re not after a balanced discussion? The regulars on this site have been convinced large falls are ‘baked in’ for the past two decades. Take the next xxx number of pages with a large pinch of salt. 

+1 - I have seen at times a good debate between people with opposing views on this forum but there is a level of disdain for people who believe prices will continue to rise. Its always good to get opposing views otherwise you just reinforce your own.

In regards to the OPs post, a lot will depend on what type of property your in and the local area. I think another major factor is when government support ends, this should be winding down once enough people are vaccinated and covid numbers are down. 

Its very hard to predict what will happen though, I was expecting us to be over covid by January and the correction in prices to happen by now which hasn't occurred. 

Having said that above I would love for a crash but I'm more realistic and think there may be a 10 to 15% correction which probably isn't going to be enough for most people on this forum to get on the property ladder.

Link to post
Share on other sites
1 hour ago, Rachel88 said:

Are the house prices going to come down?

I feel like I've been waiting forever and they just keep going up, up and up.

People have been putting an extra £30k/£40k on their houses, over the past few months. 

 

New poster "waiting forever"  :lol: 

Im not going to say it.

Link to post
Share on other sites
20 minutes ago, markyh said:

Stamp duty holiday ending should provide a nice “cliffedge”. Will be interesting to see what happens about 3 months after this date. The Miras withdrawal deadline in Sept 1988 basically crashed the market within months and it didnt recover for 10 years. But then back then there were no bailouts. 

And interest rates were what in 1988? 

Do you think if the government does close down the whole market (which they talking about doing to include stopping anyone moving even if they are in the process of completing) they will then extend the SD holiday so when things open up again  there will be another bounce back due to pent up demand? Aren't we all waiting for the roaring 20s if the vaccine stops lockdowns?

Link to post
Share on other sites
Just now, Dweller said:

And interest rates were what in 1988? 

Do you think if the government does close down the whole market (which they talking about doing to include stopping anyone moving even if they are in the process of completing) they will then extend the SD holiday so when things open up again  there will be another bounce back due to pent up demand? Aren't we all waiting for the roaring 20s if the vaccine stops lockdowns?

Roaring twenties? We're still paying for the roaring noughties!

Link to post
Share on other sites
56 minutes ago, Twenty Something said:

I’m assuming by posting here you’re not after a balanced discussion? The regulars on this site have been convinced large falls are ‘baked in’ for the past two decades. Take the next xxx number of pages with a large pinch of salt. 

My conclusion is that they are only ever being allowed to fall in real terms (not nominal), otherwise the useless banksters would go bust and actually have to work for living.

Link to post
Share on other sites
1 hour ago, Rachel88 said:

Yes. I'm in a similar situation. I had put offer in on a house just before Covid, unfortunately I wasnt successful. But now they are ridiculous prices and not particularly nice. 

Fingers crossed they do drop. It might be best for us to wait until fulough ends in March. Hopefully the flat your in doesn't sell or it takes ages for the sale to go through.

My brother works his **** off, has been working 50-80 hours a week for the last twenty years. Never bought a property despite earning £40k/annum. Was about to buy just before the pandemic hit, didn't I'm so happy for him as it's despite the recent upturn it's obvious I think we will see a significant downturn as the economic reality of all this mindless borrowing begins to bite.

Oh and he finally got some decent time off...

Edited by spacedin
Link to post
Share on other sites
42 minutes ago, MonsieurCopperCrutch said:

People are expecting furlough to end in March? 

Not going to happen. 

This government of crooks would prefer to extend and pretend.

I fear you are true.  What ever happened to the Markets reacting to risk?

Link to post
Share on other sites
23 minutes ago, winkie said:

Falling rents will be the catalyst of falling property prices......one thing leads to another.;)

There's a lot of stuff now going to impact house prices.

If Killer Bunny came back and posted..."I told you so" this week I reckon he'd be right :lol: 

Link to post
Share on other sites
4 minutes ago, househunter123 said:

I'm also getting desperate to buy

Why ?

1998: Buy a house

2007: Sell house, buy gold

2010: Sell gold, buy shares/bonds

2014: Buy £1000 of bitcoin

2020: Sell bitcoin buy a private jet/island a 100 yacht. ( miss this one out )

2020: Sell share in Jan, buy them all back in May

2021/2022: Cash everything in buy house

You need to be desperate to buy the right stuff at the right time, not the wrong stuff at the wrong time.

It's pretty simple.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.