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Anyone from York noticed how many new flats are being put up? They are mostly being marketed to the more affluent buyer, even though some of them are in nasty areas like "The Groves."

Hideously overpriced, and the glut will only serve to depress prices of existing flats.

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I've noticed a significant growth in 'for sale' and 'to let' signs within a half-mile radius of the flat I rent in Bootham Crescent. According to Propertysnake, the seller of one of them has reduced the asking price by £10k, from £160k to 150. Properties just aren't shifting round here, it seems.

Edited by The Ayatollah Bugheri

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I still think a lot of peoples sentiment is bouyant. I have noticed property deing on the market for months, you have to ask yourself how serious are some people to sell? I have a couple of friends who are EAs and they have probably been brainwashed, but they still think the market is doing well. I even know people who still think property is a good investment, and are buying BTLs so in my opinion it will take another interest rate rise or even two before people stop kidding themselves they can afford it.

The other sad thing about York is that a lot of the terraces in York that may have been starter homes for young families have been bought by Landlords for student accomodation, maybe it would be nice if the govt policy encourage someone to buy the oversupply of flats and turn them into student dorms and release houses for families to live in. That would be more socially acceptable wouldn't it?

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It's unfortunate to see house prices still on the rise. I want to apply for a mortgage loan but I want to wait for a price drop in the market. I've been trying to purchase a home for a few years now but the market has been really bad. I hope theres a price drop soon so I can finally get my house.

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