How far will house prices fall [volume 4]
Discussion
JagLover said:
Hope everyone gets on well with their children as they will be with you for a while 
http://www.independent.co.uk/news/business/news/ri...
They can stay as long as they need/want/like.http://www.independent.co.uk/news/business/news/ri...
La famiglia è tutto
jonah35 said:
If you buy a freehold house it can pass down to your family for eternity. You own that bit of land on earth. Forever.
Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Quite true when you say it like that. Plus, cash in the bank inflates away to nothing. A house will always have tangible value, someone will always likely need shelter.Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
trowelhead said:
jonah35 said:
If you buy a freehold house it can pass down to your family for eternity. You own that bit of land on earth. Forever.
Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Quite true when you say it like that. Plus, cash in the bank inflates away to nothing. A house will always have tangible value, someone will always likely need shelter.Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Justayellowbadge said:
Femur said:
IHT is there to stop that happening in reality.
IHT that is about to allow 1m of property to be passed tax free? turbobloke said:
Justayellowbadge said:
Femur said:
IHT is there to stop that happening in reality.
IHT that is about to allow 1m of property to be passed tax free? turbobloke said:
In cash terms that £1m could be converted into 20 terraced houses in parts of Grimsby or Hull, but there are some factors that may stop that happening in reality.
It could indeed but there are some terraced houses in Grimsby that can't be given away. Guildford St being a case in point. It's being pushed down having mostly stood empty for years. You have to have someone who wants to live there to make it a saleable/lettable proposition.See also Burnley, Halifax, bits of S Wales, south Yorks mining villages, and so on for places where housing doesn't appreciate in value for the reason that nobody wants to live there.
Femur said:
trowelhead said:
jonah35 said:
If you buy a freehold house it can pass down to your family for eternity. You own that bit of land on earth. Forever.
Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Quite true when you say it like that. Plus, cash in the bank inflates away to nothing. A house will always have tangible value, someone will always likely need shelter.Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Life insurance could be ised to pay the iht bill
Houses could be gofted to children prior to death
The properties could be put into trust
jonah35 said:
Femur said:
trowelhead said:
jonah35 said:
If you buy a freehold house it can pass down to your family for eternity. You own that bit of land on earth. Forever.
Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Quite true when you say it like that. Plus, cash in the bank inflates away to nothing. A house will always have tangible value, someone will always likely need shelter.Is £300k that much to earn a bit of land for eternity? In 2075 will it be worth more or less?
Houses are mcheap for what they are.
In the north you can buy a £50k terrace that will give you £400per month, every month for eternity that will probably rise with inflation. One day the rent will be £50k per month.
I have a mate who bought houses years ago for £2k. He now gets £500 per month rent for them,
How far can prices fall? Not much if you ask me.
You can buy a bmw for £70k that will fall to next to nothing in 10 years or buy a house that will provide security and rental income for generations for the same price.
Im surprised houses arent a lot, lot more.
We still have lower rates to potentially come, 40 year or lifetime mortgages and so on.
£50k for a house in the north? Yes please!
Life insurance could be ised to pay the iht bill
Houses could be gofted to children prior to death
The properties could be put into trust
loafer123 said:
Central London market is in free fall.
It is looking like the pessimism is wider than just Central. 4% drops across London expected by July.I can't say I am hugely surprised given how inflated prices are, UBS had the UK pegged as the most bubble like. Lets see what happens this time, we have had plenty of surprises before...but then affordability has been completely decimated this time and BTL interest is waning.
http://www.telegraph.co.uk/property/house-prices/h...
There is a lot of uncertainty going on currently. I think the real test will be post referendum, if we chose to stay in and prices continue to slow and drop, then i think we may have hit a real turning point in sentiment, I think the likelihood is though we remain in the EU and the risk off period comes to an end, and property takes up a slow but steady rise again.
I also think that within the next couple of years stamp duty is reformed again, it is really damaging liquidity and the chancellor will be feeling the lack of revenue, not so much the BTL stuff, but the upper level £1m+ stamp rates are killing the market.
I also think that within the next couple of years stamp duty is reformed again, it is really damaging liquidity and the chancellor will be feeling the lack of revenue, not so much the BTL stuff, but the upper level £1m+ stamp rates are killing the market.
gibbon said:
There is a lot of uncertainty going on currently. I think the real test will be post referendum, if we chose to stay in and prices continue to slow and drop, then i think we may have hit a real turning point in sentiment, I think the likelihood is though we remain in the EU and the risk off period comes to an end, and property takes up a slow but steady rise again.
I also think that within the next couple of years stamp duty is reformed again, it is really damaging liquidity and the chancellor will be feeling the lack of revenue, not so much the BTL stuff, but the upper level £1m+ stamp rates are killing the market.
There certainly is, I have seen lots of price drops around North/West London, some prices I haven't seen for years. Even then it takes a couple of weeks to shift.I also think that within the next couple of years stamp duty is reformed again, it is really damaging liquidity and the chancellor will be feeling the lack of revenue, not so much the BTL stuff, but the upper level £1m+ stamp rates are killing the market.
I can understand the impact of Brexit and thought that was the cause too but lots of property gurus are stating that it isnt the fundamental driver and there are simply issues of affordability and fears that we have peaked. Even the head of Haarts has said he thinks prices have peaked - not often you hear an estate agent say that, let alone so publicly.
In terms of stamp duty, yes that is hurting the higher end part of the market but even developers attempts to discount the value of the stamp duty increases haven't seen anyone bite. To me it feels like with the BTL demand waning and margins at all time lows....there might finally be a chance for FTB'ers to start getting back into the market. However now they have a chance, the prices are so high no-one can afford it !
I am personally still waiting on the price for a plot that I have put my name down for, but they will need to be very competitive to keep me interested during this period of uncertainty.
anonymous said:
[redacted]
I got chatting to my neighbour as I spotted they were selling (online notifier of new properties), basically he was contacted about 2-3 months ago and was surprised to see how much his place was valued at, so they decided to sell and move somewhere cheaper. In that time they had 2 viewings and one of them admitted they hadn't even got to the point of listing their own property. So they have now pulled it from the market and accepted that the listed prices aren't achievable - their place is no hovel either having been thoroughly upgraded over the last few years.
There are lots of reductions hitting the market now, e.g. a £500k 1 bed flat in Marylebone has just come through at £465k. I think I read somewhere that people now expect 10-15% discount minimum.
Edited by V6Alfisti on Friday 10th June 13:15
Pork said:
Part of the problem on £1m + homes is that many who own them have gained so much equity over the last few years, yet can't afford the stamp duty to move.
Is that really true? Of course it's a painful amount to hose away, but prices of houses at that level seem to be fluctuating by more than the stamp duty at the moment.
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