House prices..

The Mad Rapper said:
Average prices will fall far more than 10% and far faster than one to three years. I predict they will have fallen more than 10% by the first six months of 2008.
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Mad old tory said:
Forgive my cynicism, but I'll take my advice from big city institutions rather than the internet. What's your reasoning for such a catastrophic fall? Do you not think the BofE and Govt will step in and try and sure the market up should prices start tumbling?
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Looks like Mad Rapper was pretty much spot on.

Rotty said:
10% (fall) over 3 years is possible I suppose, though I would still expect it to be very regionally based
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How about a fall of more than 10% in just six months, not regionalised!
 
NickK said:
Over the next year I'll be watching house prices like a hawk. I have a good deposit waiting and when the everything is a little less crazy (before they start offering 95%/100%) in about 18 months (est) then I'll buy.

This is the reason - if I put down (for example) 50K on a 200K property, a 10% drop will effectively take out 20K from the deposit (in real terms) as I'd still be forking out for 200K.
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Why? So you only think of this new gaff as a money making scheme? Oh dear.
 
Rotty said:
the fall maybe but it is very regionalised, no sign of any drops around here ( though it is a cheap area already )
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Your having a laugh aint ya Gaz????

We bought our 4 bed detatched in October last year for £230 and it's worth £185-£195....valued this week this is in Kirkby.

Ive been looking at houses in Sutton and i can pick up a 3 bed - 3 storey mid townhouse for £85k thats around 2 years old.

There's no way on earth you could've gotten one for that a year+ ago.
 
Rotty said:
just had a house I own valued for an equity transfer and its up 18% in just over 2 years
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Git! :D

Ive taken a right knock on this but seeing as me and the missus can't live together any more i've got to do it :)

Might be on the same estate as you soon :p

Get ready *hic*

*edit* damn......i might go buy that one, i could make a fortune out of selling tea leaves to all the local dealers ;)
 
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sounds good, most on here are 3 bed detached, they are steady at 150k as they have been artificially hed down by stamp duty threshold, the 4 bed ones that were way above the 150k limit have gone up faster and will prob drop quicker


what sort of thing you looking for ?
 
Dunno, got to sell this one first and divvy up whats left with the ex.

It's all down to that really, i've got to stay local as our son goes to Kirkby Woodhouse Primary School and im not taking him away from there so areas are pretty defined

1, Kirkby In Ashfield
2, Annesley
3, Newstead Village
4, Sutton In Ashfield

All within distance for the ex's sister who drops Luke off at school when we're both at work.

Im sure i'll be able to get something nice and cheap - depends on how much she fleeces me :eek:
 
the 2 bed town houses on out estate are getching about 105 ( sister just sold one for this ) , not really many 3 bed town houses, 3 bed semis go for about 135 ( most have garages )


I paid £72k for mine in 2000, seems ridiculous now

seems to fetch more on here than rest of Sutton though thats no achievement TBH


those in Kirkby seem to be much better value
 
you midlanders make me green...

150k for a 3 bed, can only dream of that down this way (especially in tring where we live). Renting a 2bed victorian townhouse at the mo, its a semi, no drive or garage and its probs worth £220k
 
Pug said:
you midlanders make me green...

150k for a 3 bed, can only dream of that down this way (especially in tring where we live). Renting a 2bed victorian townhouse at the mo, its a semi, no drive or garage and its probs worth £220k
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150k is the higher end for a 3 bed detached

old 2 bed townhouse fetches 60-70
 
Rotty said:
the fall maybe but it is very regionalised, no sign of any drops around here ( though it is a cheap area already )
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You're right in that asking prices don't seem to be falling off much, but I believe that that is purely sellers being stubborn. I've seen certain properties for sale at the same price for ages, there is a large (by Sutton standards) 4-bed detached place on Castlewood Grove for £349,995 and it's been for sale for at least 9 months. There's another property that backs onto the lawn at £495k, that's been on the market forever. A friend of mine has a bungalow on Sutton Road up at £400k, and after stripping a measly £10k off it a few months ago, refuses to ask a penny less.

It's my belief that sooner or later people will click onto how ridiculous their valuations are, and bring them back in line to a more reasonable figure, one they might have a chance of selling at.
 
There is definitely a stubborn mentality amongst sellers at the moment. People's greed/delusion is preventing them from accepting the fact that they won't sell at last year's peak prices.

Next door to me is selling for what I'd say is 20K above current market price. It's been on the market for over 4 months now. They still haven't dropped their price (I've been nosey and checked up on property sites ;))
 
Solari said:
There is definitely a stubborn mentality amongst sellers at the moment. People's greed/delusion is preventing them from accepting the fact that they won't sell at last year's peak prices.

Next door to me is selling for what I'd say is 20K above current market price. It's been on the market for over 4 months now. They still haven't dropped their price (I've been nosey and checked up on property sites ;))
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Well, as i said earlier we bought our 4 bed detatched in October 07 with study and 2 en-suites for £230k - we're putting it on the market in the region of £185k to £195k

I think that's realistic enough :p

It's all relative to what else you buy at the moment.
 
Fusion said:
You're right in that asking prices don't seem to be falling off much, but I believe that that is purely sellers being stubborn. I've seen certain properties for sale at the same price for ages, there is a large (by Sutton standards) 4-bed detached place on Castlewood Grove for £349,995 and it's been for sale for at least 9 months. There's another property that backs onto the lawn at £495k, that's been on the market forever. A friend of mine has a bungalow on Sutton Road up at £400k, and after stripping a measly £10k off it a few months ago, refuses to ask a penny less.
.
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Thos are the sort of properties that you would think would be hit first as they are at the very top end of the market, I know 2 of the ones you are referring too, the Castlewood one was overpriced even when it first hit the market :p
 
mightynimrod said:
Well, as i said earlier we bought our 4 bed detatched in October 07 with study and 2 en-suites for £230k - we're putting it on the market in the region of £185k to £195k

I think that's realistic enough :p

It's all relative to what else you buy at the moment.
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Ouch why on earth are you doing that ?

Getting divorced ?
 
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