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Lazylobster

Newbie Requesting Opinion !

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Morning Guy's n gal's, just come across this site and have a question which I hope some of you will be able to give me your opinion upon.

I'm currently in the process of selling both of my properties, one in Docklands (rented out) and one in Kent so as to consolidate and move into one larger property in Kent, priced around the 650 - 750K mark. Having read through this site, it seems that the general consensus is of an impending market crash.

Will this affect the 650-750K price band that greatly, or, would a crash affect the lower end of the market more so ?

Opinion gladly invited !

Regards

LL

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Another Apollo/London Landlady alias? Signing off LL is certainly a red rag to a bull.

Expect large declines over the whole range, with recent new build appartments being particularly badly hit.

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Another Apollo/London Landlady alias? Signing off LL is certainly a red rag to a bull.

Expect large declines over the whole range, with recent new build appartments being particularly badly hit.

You beat me to it re LL.

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Another Apollo/London Landlady alias? Signing off LL is certainly a red rag to a bull.

Expect large declines over the whole range, with recent new build appartments being particularly badly hit.

Thanks for opinions, FYI I'm male (well, last time I looked :rolleyes: ) and my moniker is more sexual than anything to do with Landlady / lord !

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Thanks for opinions, FYI I'm male (well, last time I looked :rolleyes: ) and my moniker is more sexual than anything to do with Landlady / lord !

It's OK - bit of a running joke!? We would not want any newbies to be put off. If there is a crash it will affect all properties to varying degrees. Higher priced property could hang in there for a bit longer, but if they drop 20% that is a big chunck off 650-750.

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Morning Guy's n gal's, just come across this site and have a question which I hope some of you will be able to give me your opinion upon.

I'm currently in the process of selling both of my properties, one in Docklands (rented out) and one in Kent so as to consolidate and move into one larger property in Kent, priced around the 650 - 750K mark. Having read through this site, it seems that the general consensus is of an impending market crash.

Will this affect the 650-750K price band that greatly, or, would a crash affect the lower end of the market more so ?

Opinion gladly invited !

Regards

LL

Sounds like a good idea - go for it!

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Just a warning LL, newbies who post on here saying 'should I buy' are bound to get some sarcastic replies. Of course most people here don't think now is the time to buy. Expect the worst. At the end of the day it is your decision. I think only a fool would buy right now - top of the market. Anyway, you still have property to sell so that should give you a good indication of the market forces.

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It's OK - bit of a running joke!? We would not want any newbies to be put off. If there is a crash it will affect all properties to varying degrees. Higher priced property could hang in there for a bit longer, but if they drop 20% that is a big chunck off 650-750.

No problem, I'm quite thick skinned, or is that just thick ? :blink: Agree with your thinking, probably would see the higher end market hold up for a longer period, but thereafter . . . . . . GULP !

Time to sell and rent methinks. . . . . . .

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No problem, I'm quite thick skinned, or is that just thick ? :blink: Agree with your thinking, probably would see the higher end market hold up for a longer period, but thereafter . . . . . . GULP !

Time to sell and rent methinks. . . . . . .

Lovin it! Another STR. ;)

Keep posting and let us know how your sales are going!

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Lovin it! Another STR. ;)

Keep posting and let us know how your sales are going!

Aye, for real ! I'll keep you mob updated with the sales, see how they pan out. . . . .

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If you look at the survey's (wrongmove etc) you'll see that the mid to high end of the market is more resilient than the bottom. I think you should expect to drop your prices on the flats by a greater percentage than you would need to pay on the larger property.

Having said that, do yourself a favour and rent for a couple of years and you'll be quids in... B)

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Aye, for real ! I'll keep you mob updated with the sales, see how they pan out. . . . .

If you are trying to sell in the Docklands then keep your expectations low.

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Either way with two cheaper properties or one consolidated one, you are exposed to the market.

If you believe that prices are likely to drop somewhat then the rational thing to do would be to sell only one of the properties to mitigate the risk. Hold off on your sale of the place where you live and on your purchase of the bigger place.

If you think the market is going to crash, sell the lot, bank it, rent. Buy later, cheaper.

This is just my view.*

(*Based on past performance prices of houses may go up as well as down. :P )

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No problem, I'm quite thick skinned, or is that just thick ? :blink: Agree with your thinking, probably would see the higher end market hold up for a longer period, but thereafter . . . . . . GULP !

Time to sell and rent methinks. . . . . . .

Since you already have property, I think the key to this is how the properties are likely to perform against each other. If the Docklands one is a new-build flat, then it might fall quite badly (but that may not be the case - some will fall more than others of course). Overall London is holding fairly well at this point, and there is the East London factor (overrated perhaps, but seems to be having some effect still) so it's a hard judgment call from a distance. You might be well advised to sell and hold the money if you think the price will fall or stagnate.

Looking at the Kent ones, if you think Kent prices will fall (personally I think they will, but you'd know better if you live there), waiting might be a good plan because the gap between them is likely to narrow - even if the more expensive one falls by a smaller percentage, it is likely to close the gap in real terms. (ie 15% of £300K = £45K, but 10% of £650K = £65K)

I'd advise caution about selling both and waiting though. There are people who sold in 2002-4 expecting an imminent drop, planning to rent for a year or so, who are still waiting for a drop from the point at which they sold. Even a small rise from where we are now could lose you money. The market looks like it has to drop, but no one has any idea how long that might take. There could be a trigger that causes rapid falls, or there could be a long painful drift.

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If you are trying to sell in the Docklands then keep your expectations low.

Well, an update, after just under 3 weeks on the market, the Docklands prop has sold at asking. Which I dictated and is a good 10K over the figure that agents gave. (can always drop the price etc.)

So, just putting my Kent home on the market. I get the impression this one may take a bit longer to sell. . . .

We've been keeping an eye on a place we like in Kent and this has dropped a good 100K ! ! (Gulp) Seems that a lot of people wanted this property, but, were unable to sell their house(s) to be able to move in. I could well be in the same postion???? Only time will tell. . .

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Well, an update, after just under 3 weeks on the market, the Docklands prop has sold at asking. Which I dictated and is a good 10K over the figure that agents gave. (can always drop the price etc.)

So, just putting my Kent home on the market. I get the impression this one may take a bit longer to sell. . . .

We've been keeping an eye on a place we like in Kent and this has dropped a good 100K ! ! (Gulp) Seems that a lot of people wanted this property, but, were unable to sell their house(s) to be able to move in. I could well be in the same postion???? Only time will tell. . .

Interesting - I thought there was a lot of oversupply in the Docklands. I'm sure there still is. Perhaps the recent upturn in London and successful climate in the financial industry has helped. Good time to get out I'd say.

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Interesting - I thought there was a lot of oversupply in the Docklands. I'm sure there still is. Perhaps the recent upturn in London and successful climate in the financial industry has helped. Good time to get out I'd say.

To be fair, it was a freehold house in a great location with stunning garden. So, I would say that in general, leasehold properties will be in an over supply situation, but there's not too many freeholds on the Island at the mo. Hence why the demand was high. Ah, if only I had brought more freehold prop's in the mid 90's. . . . . :rolleyes:

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To be fair, it was a freehold house in a great location with stunning garden. So, I would say that in general, leasehold properties will be in an over supply situation, but there's not too many freeholds on the Island at the mo. Hence why the demand was high. Ah, if only I had brought more freehold prop's in the mid 90's. . . . . :rolleyes:

Ahhh

I assumed that it would be a the standard 2-bed luxo flat, docklands apartment type thing. There is definitely oversupply of those.

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I'd advise caution about selling both and waiting though. There are people who sold in 2002-4 expecting an imminent drop, planning to rent for a year or so, who are still waiting for a drop from the point at which they sold. Even a small rise from where we are now could lose you money. The market looks like it has to drop, but no one has any idea how long that might take. There could be a trigger that causes rapid falls, or there could be a long painful drift.

If you bank £650k then the interest from that will make up for any gain in the housing market that you miss out on by selling. Even the optimistic estate agents are saying 5% max for 2006.

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To be fair, it was a freehold house in a great location with stunning garden. So, I would say that in general, leasehold properties will be in an over supply situation, but there's not too many freeholds on the Island at the mo. Hence why the demand was high. Ah, if only I had brought more freehold prop's in the mid 90's. . . . . :rolleyes:

I was in an estate agents in E14 on saturday morning, and it was rammed, I was quite shocked. There are loads of flats for sale, but very few freehold houses, and these seem to be getting a lot more attention

Few weeks ago I went to see a house that was up for £380k, now this would rent out for about £330 a week, I reckon, and nothing on the street had ever sold for more than £320k (late last year), so it looked massively over valued. I told the agent I'd be interested at about £320k (which seemed about right to me), the letting agent laughed at me and said they'd secured an offer at £370k.

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If you bank £650k then the interest from that will make up for any gain in the housing market that you miss out on by selling. Even the optimistic estate agents are saying 5% max for 2006.

Too right ! That was the idea until we found a place we're really into. However, still a long way off, so if the property does fall through, then it's bank and rent time. . . .

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I was in an estate agents in E14 on saturday morning, and it was rammed, I was quite shocked. There are loads of flats for sale, but very few freehold houses, and these seem to be getting a lot more attention

Few weeks ago I went to see a house that was up for £380k, now this would rent out for about £330 a week, I reckon, and nothing on the street had ever sold for more than £320k (late last year), so it looked massively over valued. I told the agent I'd be interested at about £320k (which seemed about right to me), the letting agent laughed at me and said they'd secured an offer at £370k.

Seems about right, I've had loads of viewings and still the demand is there. Asking price seems to be achievable for most property's. Looks like a gold rush at the moment. . . . . Gawd knows why, what with US rates just hitting 4.75, BOE won't be far behind. . . . .

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To be fair, it was a freehold house in a great location with stunning garden. So, I would say that in general, leasehold properties will be in an over supply situation, but there's not too many freeholds on the Island at the mo. Hence why the demand was high. Ah, if only I had brought more freehold prop's in the mid 90's. . . . . :rolleyes:

Any chance of a rightmove link or postcode and number?

Cheers :D

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I was in an estate agents in E14 on saturday morning, and it was rammed, I was quite shocked. There are loads of flats for sale, but very few freehold houses, and these seem to be getting a lot more attention

Few weeks ago I went to see a house that was up for £380k, now this would rent out for about £330 a week, I reckon, and nothing on the street had ever sold for more than £320k (late last year), so it looked massively over valued. I told the agent I'd be interested at about £320k (which seemed about right to me), the letting agent laughed at me and said they'd secured an offer at £370k.

Crikey that's terrifying - rammed? was it people desperate to buy houses or flats or was it people annoyed with the EA.

Was there glass everywhere?

Was anyone hurt or killed?

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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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