firsttimebuyer Posted March 30, 2006 Share Posted March 30, 2006 all, thought i'd tell you a little story! Its all true. Last week i went to my mums house, to my room i stayed in a couple of years back before i got married, as i was looking for some old documents on work done on my car. Anyway whilst looking in the bags in the store cupboard in my room, i found an old property newspaper from August 2004. I have recently bought the weekly ones for the past few months so have a good idea of the streets and prices on each street. Anyway looking at the prices from mid 2004, to early 2006, i realised that the houses have not actually gone up in price. in fact the prices seemed slightly higher in the old paper than they do now, and many had houses on the same street. This is all in and around Coventry, West Midlands. So Mr Homefinder, what i wanted to ask you fella is why havnt house prices gone up in the last 18 months? i was very surprised at what my "research" found, i.e. no change, barr a tiny fall in some areas. Quote Link to comment Share on other sites More sharing options...
Mark5290 Posted March 30, 2006 Share Posted March 30, 2006 When i go to my mum's house in coventry i drive past houses that have been for sale since summer 2003, one of them is not a bad looking place just way overpriced, the owners have never dropped the price in nearly three years. What i have noticed is flats are now starting at £90,000 whatever area they seem to be in, houses in grotty areas are around the £125,000 mark and houses in a slightly better area on around £150,000. It is the first time i have looked on rightmove at buying since i moved into rented last november. Quote Link to comment Share on other sites More sharing options...
non-FTBer Posted March 30, 2006 Share Posted March 30, 2006 Very true. Don't believe the figures. When I was living in Bristol (city) there were flats bought in 2002/2003 that would fetch no more today than they sold for then. Didn't stop some people asking more, but they never seemed to get it (bar the odd freak occurrence). Quote Link to comment Share on other sites More sharing options...
Viterbi Posted March 30, 2006 Share Posted March 30, 2006 Is this evidence that house prices can stabilise on a high? It is something that has never happened before on a national scale although the laws of negative feedback (engineering) say it can happen. Real world economic models are more complicated than this. Coventry is a mid ranking area when it comes to demand for housing. Possibly even a bit on the depressed side. We don't get much news about the medium sized cities of the midlands. I hardly got any replies for Leicester and Wolverhampton. Quote Link to comment Share on other sites More sharing options...
Fingers Crossed Posted March 31, 2006 Share Posted March 31, 2006 When i go to my mum's house in coventry i drive past houses that have been for sale since summer 2003 Why would someone have their house on the market for that length of time? Wouldn't someone do all they can to sell it, even if that included dropping the price? Or take it off the market and decide to settle there. It's sooo stressful selling a house and so unsettling. I can only imagine that anxiety satiation occurs Quote Link to comment Share on other sites More sharing options...
eric pebble Posted March 31, 2006 Share Posted March 31, 2006 (edited) all, thought i'd tell you a little story! Its all true. Last week i went to my mums house, to my room i stayed in a couple of years back before i got married, as i was looking for some old documents on work done on my car. Anyway whilst looking in the bags in the store cupboard in my room, i found an old property newspaper from August 2004. I have recently bought the weekly ones for the past few months so have a good idea of the streets and prices on each street. Anyway looking at the prices from mid 2004, to early 2006, i realised that the houses have not actually gone up in price. in fact the prices seemed slightly higher in the old paper than they do now, and many had houses on the same street. This is all in and around Coventry, West Midlands. So Mr Homefinder, what i wanted to ask you fella is why havnt house prices gone up in the last 18 months? i was very surprised at what my "research" found, i.e. no change, barr a tiny fall in some areas. I have being saying this for some time...... Prices have COME DOWN - http://www.housepricecrash.co.uk/forum/ind...=0entry330646 - the VI spin is all lies. Prices have a lot further to come down too. And as I've said ever since I joined this site: - PLEASE, PLEASE - All you "First Time Buyers" out there - DO NOT NOT NOT NOT buy into this market: Do not sign your lives away. STAY OUT - STAY OUT!!!!!!! The "Housing Market" is the Biggest Ever Pyramid Selling Scam -- it is a MASSIVE SCAM. Whatever, WHATEVER you do, - Hang on, hang on, hang on - I stand by what I've being saying for a while : http://www.housepricecrash.co.uk/forum/ind...47entry152647 See all my posts - do NOT make the mistake of buying into the World's Biggest Ever Pyramid Selling Scam right now [the UK "Housing Market"] – it has peaked at WAY OVER sensible prices.... http://www.housepricecrash.co.uk/forum/ind...osts&hl=&st=575 Edited March 31, 2006 by eric pebble Quote Link to comment Share on other sites More sharing options...
munimula Posted March 31, 2006 Share Posted March 31, 2006 So Mr Homefinder, what i wanted to ask you fella is why havnt house prices gone up in the last 18 months? i was very surprised at what my "research" found, i.e. no change, barr a tiny fall in some areas. I think it is well recognised that mid 2004 was the peak of the market for most areas of the UK (except north, Scotland and NI). Since then house prices have actually gone down in many counties and if you stripped out NI and Scotland from Halifax figures then HPI for 2005 was negative. For example Somerset, by Halifax figures was down 10% and Oxford down 9%. Only the headline grabbing average UK prices HPI figures have managed to stay positive. Quote Link to comment Share on other sites More sharing options...
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