equitystasher Posted January 28, 2009 Author Share Posted January 28, 2009 http://www.independent.co.uk/news/uk/polit...uk-1518588.html Wait 12 months at least? Quote Link to comment Share on other sites More sharing options...
jimchayts Posted January 28, 2009 Share Posted January 28, 2009 Have you not considered renting for 12 months? House prices will not increase over the next 12 months and with unemployment rolling much higher you will be in a much stronger position to negotiate the price in 12 months time. There is still alot of vendors holding onto hope. If you pay 20% off you are not getting it at what future value is but what CURRENT value is. That is the way the market works. The few buyers that are around determine the current value. In my view if you buy now you might aswell throw the money out of the window. The readjustment of prices will take time but we need to see unemployment peak before we see prices stablise and that is a way off yet? Yes you are buying a home for the future but look at the benefits to your families future by waiting just a short relative time. Playing a waiting game will result in a much lower mortgage or much better house. When there is blood on the streets and everyone is saying don't buy property that is the time to step up to buy. I understand that people don't want to wait that long but at least wait for the biggest falls to pass first! There is plenty of rental property out there which is now cheaper. Sign up for 12 months to give yourself some security and some bargaing room with the land lord and save your house fund. Remember that it is now abuyers market and will be for the forseeable future.This hasnt been around for 12 years so it takes time for peoples mentality to change. Thanks for taking the time to respond. I know that renting is the sensible thing to do right now, but the upheaval for our 2 kids (4 and 2 years old) and for my wife (who hates the idea of renting) and 2 cats (no-one wants cats in rented houses) makes it a hard one to go for. I'm not even a fan of these Victorian terraces/semis but as we've decided to stay in Brighton and have to be close to Balfour, we don't have much choice. You are absolutely right - it will take a long time for the vendors to change their mindset and let their houses go for less than peak price. Quote Link to comment Share on other sites More sharing options...
jimchayts Posted January 29, 2009 Share Posted January 29, 2009 OK, made the decision last night to sell our house (4 bed terrace in Golden Triangle) and get the hell out of the market. Just need to do some painting first. Thanks for all the advice. Quote Link to comment Share on other sites More sharing options...
CviewUK Posted January 29, 2009 Share Posted January 29, 2009 I do like the Argus property stories. Sussex businessman demands landlord protection after drug farm damage9:30am Thursday 29th January 2009 Comments (1) Have your say » By Ruth Lumley » A businessman has called for more protection for landlords after one of his properties was transformed into a massive cannabis farm. Stephen Strafford was stunned to be told that his pristine four-bedroom home had been left uninhabitable and with damage totalling £70,000. He rented the property in Wilbury Crecsent, Hove, to a Chinese family two months ago but returned from a skiing holiday on Monday to be told his house had been used to cultivate 300 cannabis plants. http://www.theargus.co.uk/news/4083815.Can..._000_of_damage/ Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted January 29, 2009 Share Posted January 29, 2009 OK, made the decision last night to sell our house (4 bed terrace in Golden Triangle) and get the hell out of the market.Just need to do some painting first. Thanks for all the advice. And what will you put it on the market for and how much do you expect to get ? Best of luck. Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted January 29, 2009 Share Posted January 29, 2009 I do like the Argus property stories. http://www.theargus.co.uk/news/4083815.Can..._000_of_damage/ 70K worth of damage? He must know some expensive tradesmen then, and a naive insurer... Quote Link to comment Share on other sites More sharing options...
jimchayts Posted January 29, 2009 Share Posted January 29, 2009 And what will you put it on the market for and how much do you expect to get ?Best of luck. I 'think' houses like ours are going on at about £430k (3 beds are £400k) What we expect to get and what we might get are 2 different things, who knows - we might be lucky to get out with £400k Quote Link to comment Share on other sites More sharing options...
yellerkat Posted January 29, 2009 Share Posted January 29, 2009 OK, made the decision last night to sell our house (4 bed terrace in Golden Triangle) and get the hell out of the market.Just need to do some painting first. Thanks for all the advice. Magnolia? Quote Link to comment Share on other sites More sharing options...
jimchayts Posted January 29, 2009 Share Posted January 29, 2009 Magnolia? Yes, I have seen some decoration nightmares around when looking - orange walls and teal fireplace, nice! Quote Link to comment Share on other sites More sharing options...
CrashHorizon Posted January 29, 2009 Share Posted January 29, 2009 Time for a monthly update of the Land Registry figs for B&H out today! For December 2008: Monthly fall -1.4%. Annual Year on Year fall -13.8% Average Price at Peak £236,041 Average Price Now £202,191 Amount of fall £33,850 Fall since peak -14.3% November’s price fall for B&H has been revised down from 3.6% to 4.3% in ONE MONTH! Expect the December figure to be revised down too. The annual rate of price falls of 13.8% is one of the very WORST in the country. Out of 109 unitary authorities, B&H shows the 6th highest fall! If we compare to all the metropolitan districts in the country, B&H has the HIGHEST annual fall of all the 36 metropolitan districts!! If we compare to all the London districts, Brighton has the 2nd Highest fall if compared to the 33 London Districts!! Land Registry figures are the most accurate in terms of prices as they are based on completion prices. However they lag the ‘Haliwide’ figures by about 3 months so more falls are certain in the months ahead. Enjoy all you lovely property bears! http://www1.landregistry.gov.uk/assets/lib...s/29012009e.pdf http://www1.landregistry.gov.uk/houseprice...amp;image2.y=14 Quote Link to comment Share on other sites More sharing options...
cht Posted January 29, 2009 Share Posted January 29, 2009 I love the LandReg figures. Bear tastic. Make sure you tell everyone you know in B+H. Quote Link to comment Share on other sites More sharing options...
i wanna house Posted January 29, 2009 Share Posted January 29, 2009 I love the LandReg figures. Bear tastic. Make sure you tell everyone you know in B+H. still cant afford a house though Quote Link to comment Share on other sites More sharing options...
hausfrau Posted January 29, 2009 Share Posted January 29, 2009 still cant afford a house though I know the feeling Quote Link to comment Share on other sites More sharing options...
equitystasher Posted January 29, 2009 Author Share Posted January 29, 2009 Time for a monthly update of the Land Registry figs for B&H out today!For December 2008: Monthly fall -1.4%. Annual Year on Year fall -13.8% Average Price at Peak £236,041 Average Price Now £202,191 Amount of fall £33,850 Fall since peak -14.3% November’s price fall for B&H has been revised down from 3.6% to 4.3% in ONE MONTH! Expect the December figure to be revised down too. The annual rate of price falls of 13.8% is one of the very WORST in the country. Out of 109 unitary authorities, B&H shows the 6th highest fall! If we compare to all the metropolitan districts in the country, B&H has the HIGHEST annual fall of all the 36 metropolitan districts!! If we compare to all the London districts, Brighton has the 2nd Highest fall if compared to the 33 London Districts!! Land Registry figures are the most accurate in terms of prices as they are based on completion prices. However they lag the ‘Haliwide’ figures by about 3 months so more falls are certain in the months ahead. Enjoy all you lovely property bears! http://www1.landregistry.gov.uk/assets/lib...s/29012009e.pdf http://www1.landregistry.gov.uk/houseprice...amp;image2.y=14 Its fantastic news...........for some of us. The Land Registry is accurate for private sales but very laggy. Sales for November will be made up of sales agreed around three months earlier so maybe we will see a few more 4% drops!!! 4.3% of the average house with 25 years interest is alot of money that can be spent on yourself and family. Quote Link to comment Share on other sites More sharing options...
i wanna house Posted January 31, 2009 Share Posted January 31, 2009 loads have been sold in the last week in the area that i am watching....... what do you make of that ? Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted January 31, 2009 Share Posted January 31, 2009 loads have been sold in the last week in the area that i am watching.......what do you make of that ? I suppose it partly depends on who told you, why and what constitutes 'loads'? Quote Link to comment Share on other sites More sharing options...
LiveAndLetBuy Posted February 1, 2009 Share Posted February 1, 2009 loads have been sold in the last week in the area that i am watching.......what do you make of that ? Could mean sellers are suddenly accepting lower offers, the banks are suddenly accepting more mortgage applications, the solicitors have got back from their month long Christmas breaks and finally got round to exchanging contracts, HPC is over*, etc I expect it's mainly sellers accepting lower offers. People who didn't sell last year want to make plans for this year and don't want the hassle of having their house on the market for months on end. Selling a house in a rising market is stressful enough, selling in a falling market must be a complete nightmare. They might have worked out that accepting a lower offer now is better than being forced to accept an ever lower offer in 6 months time. It's good to have some movement in the market, because each sale at a reduced price sets lower expectations for the next house to come on the market. It shows the market effectively "accepts" HPC as a long term reality, rather than perhaps some temporary blip caused by the credit crunch. * Quote Link to comment Share on other sites More sharing options...
noddynoo Posted February 1, 2009 Share Posted February 1, 2009 I bought at the end of last year in Brighton after selling up in summer 07 a flat where I could no longer do the stairs. We bought a house for 220k.The last one to sell in the road sold in the May 08 for 335k and the most ever paid was jan 08 345k.Ours was a buy to let landlord jumping ship and he had it on at 259 in order to get 250 But we were cash buyers and the agent advised him to take it.It is in the area around 5ways 3 bed victorian terrace good structural condition electrics and newish boiler but shabby decor. I couldn't bear the rip off rental I had and doubtless could have got a better deal had i waited but am happy here and not planning to move anytime soon.brighton is a disater where property is concerned loads on the market but no buyers Quote Link to comment Share on other sites More sharing options...
i wanna house Posted February 2, 2009 Share Posted February 2, 2009 any one in queens park this morning ? (snowy monday -no school-no trains -no work ! yay) a good number of for sale signs were being used as sledges ! Brilliant Quote Link to comment Share on other sites More sharing options...
i wanna house Posted February 2, 2009 Share Posted February 2, 2009 (edited) I suppose it partly depends on who told you, why and what constitutes 'loads'? 14 of the 93 on my list with rightmove have come up as sold subject to contract, 2 under offer and 1 as sold STCM (what ever that is ) all last week. Which considering in the last six months less than 10 had come up as sold (and some that did came back for sale again ) to me it constitutes loads. significant ? Edited February 2, 2009 by i wanna house Quote Link to comment Share on other sites More sharing options...
LiveAndLetBuy Posted February 2, 2009 Share Posted February 2, 2009 The Argus seems to have suddenly started printing articles on property prices again: http://www.theargus.co.uk/uk_national_news...uld_tumble_40_/ I guess that after a year that has seen the biggest annual drop in prices ever, they couldn't keep quiet on the matter much longer. Or perhaps they think they've left it long enough for people to forget about that article a couple of years ago that predicted prices would double every few years for the next decade or so? It's also revealing that they won't let people leave comments either. Quote Link to comment Share on other sites More sharing options...
tigsrenting Posted February 2, 2009 Share Posted February 2, 2009 The Argus seems to have suddenly started printing articles on property prices again:http://www.theargus.co.uk/uk_national_news...uld_tumble_40_/ I guess that after a year that has seen the biggest annual drop in prices ever, they couldn't keep quiet on the matter much longer. Or perhaps they think they've left it long enough for people to forget about that article a couple of years ago that predicted prices would double every few years for the next decade or so? It's also revealing that they won't let people leave comments either. Dear old Argus dare not let us leave comments on house prices anymore, it turns into a right free for all and they're hardly getting much revenue from EAs as it is. Latest Homes is having to rely more and more on holistic, eco, green weddings, nlp crap for their revenues and the quality of the pages is akin to izal toilet paper. The EAs near me don't stock LH anymore but is freely available outside the newsagents just alongside the Friday-Ad. A little gem from Alex McKay of Mishon McKay fame, "If history repeats itself it could be 2324 before interest rates are as low again. This rather suggests that now is as good a time as any to take advantage of these rates and enter the property market. With prices back to 2003 levels - when there was huge activity in the market - this makes even more sense". Quote Link to comment Share on other sites More sharing options...
skomer Posted February 3, 2009 Share Posted February 3, 2009 Another view of Brighton's economy in today's Telegraph..... getting more and more like the early 90's everyday now http://blogs.telegraph.co.uk/martin_webb/b...eed_a_plasterer "........The students are not spending because they're terrified they'll never get jobs now and don't want to run up unpayable debts. The word on campus is that graduate employment rates are frighteningly poor. They've also lost their weekend jobs in Brighton's bars, cafes and shops as employers cut costs as sales dive. Good chance their parents are also holding back on cash help as things get grimmer. To be fair the BUPA bunch are still spending but not as much as before. Perhaps they're worried about redundancy, or maybe like the rest of us their just scared of what the next few months will hold. It's the self-employed drinkers who've really been crying into their beer. Brighton has dinned out on its housing boom for the last few years. Everyone and everybody was a property developer. Plasterers, electricians, roofers and bricklayers were booked months in advance and seemed to be able to set their own pay rates. Now that's all gone and they're desperately using Facebook and flyers in our pub to tout their services. Some of those guys would spend over £200 in our pub every week. Now it's £20 and that leaves a big hole to fill. Brighton has got a unique economy based largely on its 'London by the sea' role. It remains to be seen how it weathers the storm, but from the number of vacant retail units appearing, the first signs aren't great......" Quote Link to comment Share on other sites More sharing options...
i wanna house Posted February 3, 2009 Share Posted February 3, 2009 Another view of Brighton's economy in today's Telegraph..... getting more and more like the early 90's everyday now http://blogs.telegraph.co.uk/martin_webb/b...eed_a_plasterer we made the guardian too.. Seems the reporter lives in a Hanover and was in queens park on Monday like me. "People skittered down the steep white slopes of Queen's Park on binbags, trays, surfboards that had seen better days, and rectangular lids of recycling bins - sometimes overtaking the occasional snowboarder in full kit. A young couple rode disused For Sale signs, which hurtled downwards faster than local house prices - as cheerful an elegy as could be hoped for the end of the city's property boom." Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted February 3, 2009 Share Posted February 3, 2009 we made the guardian too.. Seems the reporter lives in a Hanover and was in queens park on Monday like me."People skittered down the steep white slopes of Queen's Park on binbags, trays, surfboards that had seen better days, and rectangular lids of recycling bins - sometimes overtaking the occasional snowboarder in full kit. A young couple rode disused For Sale signs, which hurtled downwards faster than local house prices - as cheerful an elegy as could be hoped for the end of the city's property boom." Nice! Stop press - just had a mail from Zoopla (yeah, I know, but it does show the most recent sold prices). Houses in Balfour Rd, Bates Rd, Lowther Rd all sold for 250K...that represents quite a fall from peak for 'sought after' roads. MOST interesting though are the 95K for a house in Mackie Ave, and 120K for a house in Barnett Rd. I don't know the details of the properties, but both are listed as houses rather than flats. Now, thos are HUGE falls... Does anyone know anything about them ? Quote Link to comment Share on other sites More sharing options...
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