SunnySideUp

People are dropping 15% on Asking Prices.

Gear Head

iTrader: (2)

Yea, the people who NEED to sell because they stupidly borrowed far too much money!

john banks

bravo2zero sps, if you look at asking prices you'll have a bias towards the overpriced stuff that isn't selling. If you look at land registry figs, you'll not have the auctions/repos.

I'm looking at forced sales on the margins as my lead indicator of where I think the general market is going as the very low volumes don't give clear information. Some of these would give good rental yields and sensible income multiples even now, but not much terribly desirable here yet.

I'm not yet house hunting until key things happen such as many people still believing that their area is immune. Otherwise it is a waste of time trying to do a deal with these people. There would be a massive gulf between what I would be willing to pay and what many would sell it to me for at present. As a cash buyer the deal will be real when it will actually be done with no messing about with bank lending problems. The only thing I really need to look for is the IMHO inevitable return of inflation that will be absolutely massive once the money supply gets pumped up to prevent deflation. If I don't buy a house at that point I'll be buying shares, index linked gilts, gold instead until I think houses are near a bottom. There will be little hurry to pick up a house, time will produce the capitulation I await.

SunnySideUp

Going to look at a bungalow tomorrow on the south coast.

Came on the market at over £300k 2 months ago - now asking £210k - is generating some interest according to the Agent and I believe him. I thought it was a misprint!

Forced sales are where the real market is at, and it's falling rapidly and that is from the coal face, where sales are actually happening - not overpriced houses with dreamer vendors going nowhere.

coolangatta

Predicting a downturn or crash 'for a number of years' is not clever . As economic trends are cyclical, and always have been, it's about as clever as predicting that the sun will rise tomorrow.
You 'few' should stop being a smart *****, no one likes a smart **** you know

unclebuck

Not according to lewis's heroes Blair and Brown - we were cosistantly told by Gordon Mugabe that he had singlehandedly brought an end to 'Boom and Bust' and most people on here, especially lewis, fell for it hook line and sinker.

Now they are being fed the lie that 'everything will be back to normal' in 18 months. (whatever 'normal' is supposed to be - borrowing more than you can afford to payback I suppose) And guess what, they believe that too.

I agree that there is nothing 'smart' about understanding the truth - just stupidity on the part of the majority too stupid to see through the tissue of lies they are fed by 'government'.

SunnySideUp

House is fine Sir, just needs a bit of underpinning!!

http://www.hoax-slayer.com/images/am...rock-house.jpg

fatscoobfella1

iTrader: (1)

Have a look on here for house price drop percentage of where you live..

property snake -- home -- find falling house prices in your area