House prices - soft landing?
Discussion
[pic]http://newsimg.bbc.co.uk/media/images/41249000/gif/_41249001_houseprice_3006_gra203.gif[/pic]
There must be some vivid imaginations out there.
Everything I have read so far about the housing slowdown says "it'll be a soft landing".
But if you were given that graph - would you be thinking, "hmm soft landing"? How much of a steep decline on a graph do you need to start thinking "hmmm, might not be soft landing". Where does that graph at any point on its curve indicate "soft landing"?
The only thing the wretched graph shows is a damn big drop that is still in progress with no signs of recovery. I fail to see how on that data you can expect anything else.
There must be some vivid imaginations out there.
Everything I have read so far about the housing slowdown says "it'll be a soft landing".
But if you were given that graph - would you be thinking, "hmm soft landing"? How much of a steep decline on a graph do you need to start thinking "hmmm, might not be soft landing". Where does that graph at any point on its curve indicate "soft landing"?
The only thing the wretched graph shows is a damn big drop that is still in progress with no signs of recovery. I fail to see how on that data you can expect anything else.
if that graph went further doun and you saw -2 -4 etc then that would worry me greatly, but as it only shows a slowly slowing market then its no cause for concern. Wait until interest rates drop in the next few months to see if it levels.
>> Edited by rich1231 on Thursday 30th June 10:56
>> Edited by rich1231 on Thursday 30th June 10:56
anonymous said:
[redacted]
Very true.
Above £200k it's a bit sticky and below £120 it's like trying to catch a greased pig to get a good one before it's gone.
We appear to have reached a point at which House prices will not go up in value by much but nor will they plummet.
Not too sure that graph is that great though. If you ask me house price inflation was going up like mad 'till about July last year, then the real world hit, and since the end of August nothing's gone up in value save those between £100k and £120k the day after the budget. On the flip side it's not really gone down either. Sure it's a Buyers market but no sign of a '89 style drop.
Incorrigible said:
We dropped ours nearly 10% to sell
And I know it went for 5% less than one up the road last year, and the same as another up the road 2 years before
Yet this graph still shows a 4% increasewhere's my extra £30k then
You sold for £720k? Thats why... presuming you don't live in Mayfair thats comfortably at the top of most markets... all the top end stuff is suffering at the moment.
All we have seen in kent is Asking Prices coming down, not so much average prices on exchange its just a realisation that house prices aren't increasing at the moment, and IMHO the slowdown in the market has been due to Vendors asking, and expecting too much money, which limits saleable houses in the market.
For sure there are lots of people trying to sell at the moment... but are they all accepting that they need to still be looking at early '04 prices, not an inflated one?
The places that are selling are the sharp cookies who realise this, and it leaves the guys that won't listen whingeing and moaning.
KingRichard said:
The places that are selling are the sharp cookies who realise this, and it leaves the guys that won't listen whingeing and moaning.
Could you please explain this to my ex who is blaming everything but the asking price for why the house hasn't sold yet, despite being told it should be on for £10k less?
tinman0 said:
There must be some vivid imaginations out there.
Everything I have read so far about the housing slowdown says "it'll be a soft landing".
But if you were given that graph - would you be thinking, "hmm soft landing"? How much of a steep decline on a graph do you need to start thinking "hmmm, might not be soft landing". Where does that graph at any point on its curve indicate "soft landing"?
The only thing the wretched graph shows is a damn big drop that is still in progress with no signs of recovery. I fail to see how on that data you can expect anything else.
pardon?
that graph does not show a drop in house prices, it shows a slow down in (house price) inflation. the housing market continues to remain flat, some areas dropping slightly, others rising slightly
over the last three years I think there has been an average of 60-80,000 new homes (apartments or houses) built in the dublin area alone. There is so much demand for investors and purchasers alike that it is tough. A good friend sell new homes and they are ruthless with the prices. A good opening weekend and they crank on €10,000 for the next weekend. She has even priced herself out of a house she wanted to buy!
Our wages did go up with the tiger, but not nearly as much as house prices. Currently there is no end in sight to the rise but it is slowing slightly. Morgtages are easy to get, but impossible to afford.
As i said, it's no fun, and I'm more than just a bit nervous about it as my house will be completed in October.
Our wages did go up with the tiger, but not nearly as much as house prices. Currently there is no end in sight to the rise but it is slowing slightly. Morgtages are easy to get, but impossible to afford.
As i said, it's no fun, and I'm more than just a bit nervous about it as my house will be completed in October.
rude-boy said:
The places that are selling are the sharp cookies who realise this, and it leaves the guys that won't listen whingeing and moaning.
Could you please explain this to my ex who is blaming everything but the asking price for why the house hasn't sold yet, despite being told it should be on for £10k less?
Ask your Estate Agent to do it, thats what your paying them for mate
KingRichard said:
KingRichard said:
The places that are selling are the sharp cookies who realise this, and it leaves the guys that won't listen whingeing and moaning.
Could you please explain this to my ex who is blaming everything but the asking price for why the house hasn't sold yet, despite being told it should be on for £10k less?
Ask your Estate Agent to do it, thats what your paying them for mate
reductions reductions reductions!
you got a day off from the academy matey?
minimax said:
rude-boy said:
KingRichard said:
The places that are selling are the sharp cookies who realise this, and it leaves the guys that won't listen whingeing and moaning.
Could you please explain this to my ex who is blaming everything but the asking price for why the house hasn't sold yet, despite being told it should be on for £10k less?
Ask your Estate Agent to do it, thats what your paying them for mate
reductions reductions reductions!
you got a day off from the academy matey?
Nope, studying hard! well ok, i'll start in a minute... but I've got through all of CeMAP 2 in 10 Days so i'm allowing a small amount of PH time
You writing lots of business? Prob best in a mail mate rather than me clogging up the topic!
Yes, Reductions = Sales, unless your Estate Agent really knows his onions
then he won't take it on for too much money in the first place Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff