How far will house prices fall [volume 4]
Discussion
menousername said:
alock said:
Surely the definition of a sellers market is when there are more buyers than sellers and the buyers are out-bidding each other to buy. If there weren't lots of people desperate to buy (and pay over the odds) then it wouldn't be a sellers market. You're too late for the buyers market. This was several years ago when people were desperate to get rid of housing they thought might drop even further in value.
I think most people think we are past the worst of the collapse and prices are only going up. This is why lots of people are desperate to buy and hence it's a sellers market. We took a similar gamble in 2012. We decided that house prices were at their minimum so it was the best time to up-size our house, i.e. the most extra space for the least extra outlay.
thats what I said.. its a sellers marketI think most people think we are past the worst of the collapse and prices are only going up. This is why lots of people are desperate to buy and hence it's a sellers market. We took a similar gamble in 2012. We decided that house prices were at their minimum so it was the best time to up-size our house, i.e. the most extra space for the least extra outlay.
but I do not understand why it is propergated by people acting like its a buyers market. Prices go up, houses are going for 10/20% more than asking price, so more people pile in even deeper.
menousername said:
thats what I said.. its a sellers market
but I do not understand why it is propergated by people acting like its a buyers market. Prices go up, houses are going for 10/20% more than asking price, so more people pile in even deeper.
In a buyers market the prices are under pressure - I'm not sure you're getting this!but I do not understand why it is propergated by people acting like its a buyers market. Prices go up, houses are going for 10/20% more than asking price, so more people pile in even deeper.
vescaegg said:
In fairness, my friends probably have good deposits for the market 18 months ago. Possibly not so good any more....
And a few of them dont necessarily share my beliefs though, do see a crash coming and are waiting to get something once it happens.
I'll have a shilling on the side that there's no crash and certainly before the General Election in which time some London buyers completing in May 2014 will be sitting pretty after only 12 months. And a few of them dont necessarily share my beliefs though, do see a crash coming and are waiting to get something once it happens.
This is based on the highly technical analysis known as gut feeling
We could do with a PH thread on house prices crashing
turbobloke said:
vescaegg said:
In fairness, my friends probably have good deposits for the market 18 months ago. Possibly not so good any more....
And a few of them dont necessarily share my beliefs though, do see a crash coming and are waiting to get something once it happens.
I'll have a shilling on the side that there's no crash and certainly before the General Election in which time some London buyers completing in May 2014 will be sitting pretty after only 12 months. And a few of them dont necessarily share my beliefs though, do see a crash coming and are waiting to get something once it happens.
This is based on the highly technical analysis known as gut feeling
We could do with a PH thread on house prices crashing
gut feeling is the most advanced type of technical analysis.Will this make any difference?
Lloyds limits mortgage lending to 4x income for mortgages >£500k in London
Not sure what I think - all it does is transfer buyers from one market to a slightly cheaper one, but with no effect below the ~£550/600k bracket; Hence the 'end game' is more buyers in that sub ~£550k bracket (and the resultant +ve effect on prices)
Lloyds limits mortgage lending to 4x income for mortgages >£500k in London
Not sure what I think - all it does is transfer buyers from one market to a slightly cheaper one, but with no effect below the ~£550/600k bracket; Hence the 'end game' is more buyers in that sub ~£550k bracket (and the resultant +ve effect on prices)
brickwall said:
Will this make any difference?
Lloyds limits mortgage lending to 4x income for mortgages >£500k in London
Not sure what I think - all it does is transfer buyers from one market to a slightly cheaper one, but with no effect below the ~£550/600k bracket; Hence the 'end game' is more buyers in that sub ~£550k bracket (and the resultant +ve effect on prices)
Lol, no, not at all.Lloyds limits mortgage lending to 4x income for mortgages >£500k in London
Not sure what I think - all it does is transfer buyers from one market to a slightly cheaper one, but with no effect below the ~£550/600k bracket; Hence the 'end game' is more buyers in that sub ~£550k bracket (and the resultant +ve effect on prices)
There are other mortgage lenders, most £500k plus mortgages will be from people earning over £125k and, contrary to popular belief, many are cash purchases.
Also, once you're borrowing that kind of cash, private banks etc will lend and secure against other assets.
Lloyds just wants to limit risk but the issue is not the income, imho, its the security of that income. I'd rather lend to a public sector worker who has phi and unemployment cover, has been employed 10 years so would get redundancy and who is in a safe job earning £110k per year than lend to someone who has started a new job in the private sector with no insurances or redundancy package in sales on a £125k basic but who needs to validate his salary.
To be fair Curchods and their pricing are pretty much a running joke in either this thread or the other one. There's been so much Cobham/Curchods comedy gold over the years.
FWIW it does feel like some of the froth has come off the market in Surrey but it's hard to say if it's just down to seasonal trends or if there's much more to it. Who knows. YOY is still very strong if price is your King.
FWIW it does feel like some of the froth has come off the market in Surrey but it's hard to say if it's just down to seasonal trends or if there's much more to it. Who knows. YOY is still very strong if price is your King.
scenario8 said:
To be fair Curchods and their pricing are pretty much a running joke in either this thread or the other one. There's been so much Cobham/Curchods comedy gold over the years.
FWIW it does feel like some of the froth has come off the market in Surrey but it's hard to say if it's just down to seasonal trends or if there's much more to it. Who knows. YOY is still very strong if price is your King.
asking price or selling price?FWIW it does feel like some of the froth has come off the market in Surrey but it's hard to say if it's just down to seasonal trends or if there's much more to it. Who knows. YOY is still very strong if price is your King.
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