How far will house prices fall [volume 4]
Discussion
juice said:
Because - Clifton.
Well, because DFLers tbh. Free money and all that. As ever, the mash explains best.http://www.thedailymash.co.uk/news/society/bristol...
TheLordJohn said:
He earns as much as me, if not more. And pays no rent.
He's doing fine.
He must help his mum out- is she really homing feeding and clothing him for free. And he must be her rainy day fund also.He's doing fine.
Its a lot harder to justify spending on most things esp a house when you are that safety net for your parent(s)
menousername said:
TheLordJohn said:
He earns as much as me, if not more. And pays no rent.
He's doing fine.
He must help his mum out- is she really homing feeding and clothing him for free. And he must be her rainy day fund also.He's doing fine.
Its a lot harder to justify spending on most things esp a house when you are that safety net for your parent(s)
OP's friend can also probably buy his mums council place at a discount, if he hasn't already...
Edited by hyphen on Sunday 6th August 00:01
p1stonhead said:
scenario8 said:
p1stonhead said:
House I sold for £307k in April 2015 has just gone back on with zero changes for £385k.
Lets see how that goes.....
Don't be such a teaseLets see how that goes.....
www.rightmove.co.uk
Sa Calobra said:
p1stonhead said:
scenario8 said:
p1stonhead said:
House I sold for £307k in April 2015 has just gone back on with zero changes for £385k.
Lets see how that goes.....
Don't be such a teaseLets see how that goes.....
www.rightmove.co.uk
Terminator X said:
So still not fallen 5 years after thread started. Not to worry they will do eventually and then the gloating can begin, oh apart from the people who have been renting for all that time waiting for a price drop!
TX.
Central London certainly has dropped, by as much as 30% in 3 years.TX.
Latest Halifax figures are out today, forth consecutive consolidated drop nationwide. -0.2% this time. However certainly hiding much larger increases in some areas, and decreases in others (i.e London).
I agree definitely new builds are dropping, although they are often priced aggressively high in the first place by developers.
I've also dropped £100k asking price in the last 6 weeks on my 1930's property so I'm not disputing the market is soft.
The interesting thing is that the aforementioned reductions haven't filtered yet into the sold sales figures when split out by region.
I've also dropped £100k asking price in the last 6 weeks on my 1930's property so I'm not disputing the market is soft.
The interesting thing is that the aforementioned reductions haven't filtered yet into the sold sales figures when split out by region.
Specific markets of London have dropped (not sure where 30% has come from though) but 'London' as an entity overall certainly hasn't from what I've seen.
Things which were blatently overpriced to start with will move first, but reasonable family homes are still pretty hard to come by.
A couple of EA's I have spoken to have actually said the last few months have been a bit stronger than early this year which seems to be backed up in a few areas.
https://www.ft.com/content/442851f2-e580-36c9-9d0b...
http://www.telegraph.co.uk/business/2017/08/01/nat...
Things which were blatently overpriced to start with will move first, but reasonable family homes are still pretty hard to come by.
A couple of EA's I have spoken to have actually said the last few months have been a bit stronger than early this year which seems to be backed up in a few areas.
https://www.ft.com/content/442851f2-e580-36c9-9d0b...
http://www.telegraph.co.uk/business/2017/08/01/nat...
Edited by p1stonhead on Tuesday 8th August 06:36
z4RRSchris said:
new builds you can get a huge discount to the achieved 2013/14 prices. more than your 30% in places.
old stock is struggling, friend bought for 725ish, 2 bed in clapham. can't sell it so taken it off the market.
I'm sure he could sell it, just not for the price he wants old stock is struggling, friend bought for 725ish, 2 bed in clapham. can't sell it so taken it off the market.
Is the 30%, referred to a few posts above, a drop in asking price? Given that's probably only back to sold prices from 2014-15, it's will only affect anyone who's bought since then and looking to sell.
EddieSteadyGo said:
Do you have link to the source of this statistic? Are you sure you are not referring to transaction volume rather than change in prices?
It has been covered alot in media about prime falls (sorry typing on the tube into work, Google will pick it up though) , but my own research showed places that sold for over 900k in 2014 and are now lingering for resale at just over £600k. There was also a bright spark that took all the land registry data across a number of London areas, the city of London had dropped 12% in one year, Greenwich the same. It wouldn't surprise me if that's been the case for the last 3 years which seems to be what the papers were reporting. Although no doubt this also probably masks subareas that are doing rather better than the average.
If you look at the detail of some of these reports over a number of months, they are hiding much bigger falls in some areas than the headlines state.
z4RRSchris said:
new builds you can get a huge discount to the achieved 2013/14 prices. more than your 30% in places.
old stock is struggling, friend bought for 725ish, 2 bed in clapham. can't sell it so taken it off the market.
I know you are active in the new build market - what do you think peak to trough looks like in London? old stock is struggling, friend bought for 725ish, 2 bed in clapham. can't sell it so taken it off the market.
My feeling is that a standard 2 bedder in Battersea Power Station should be worth about £500k which implies significant falls from here and a reduction of ~2/3rds from peak.
That price point would mean Dalston might lose, say, 40% to remain competitive.
V6Alfisti said:
but my own research showed places that sold for over 900k in 2014 and are now lingering for resale at just over £600k.
Could you show me a central london property that sold for 900k in 2014 and now is on the market for just over £600k please.I find that hard to believe.
gibbon said:
V6Alfisti said:
but my own research showed places that sold for over 900k in 2014 and are now lingering for resale at just over £600k.
Could you show me a central london property that sold for 900k in 2014 and now is on the market for just over £600k please.I find that hard to believe.
Id be amazed if it exists or if it/they do, there will be more to it.
V6Alfisti said:
There was also a bright spark that took all the land registry data across a number of London areas, the city of London had dropped 12% in one year, Greenwich the same. It wouldn't surprise me if that's been the case for the last 3 years which seems to be what the papers were reporting.
So this is where you have gotten your 30% from? Hardly comprehensive is it.ONS certainly doesnt show 30%;
Edited by p1stonhead on Tuesday 8th August 10:04
Edited by p1stonhead on Tuesday 8th August 10:06
p1stonhead said:
Exactly. Who in their right mind would accept a £300k 3 year haircut unless they literally had a gun to their head.
Id be amazed if it exists or if it/they do, there will be more to it.
Im in the process of buying and selling. My view of zone 2 london is somewhat different, but I will report back if / when all done.Id be amazed if it exists or if it/they do, there will be more to it.
V6Alfisti said:
It has been covered alot in media about prime falls (sorry typing on the tube into work, Google will pick it up though) , but my own research showed places that sold for over 900k in 2014 and are now lingering for resale at just over £600k.
There was also a bright spark that took all the land registry data across a number of London areas, the city of London had dropped 12% in one year, Greenwich the same. It wouldn't surprise me if that's been the case for the last 3 years which seems to be what the papers were reporting. Although no doubt this also probably masks subareas that are doing rather better than the average.
If you look at the detail of some of these reports over a number of months, they are hiding much bigger falls in some areas than the headlines state.
As mentioned earlier, I'd be interested to see the sources of the stats you are referring to as it doesn't tally with what I can see on from the traditional sources. There was also a bright spark that took all the land registry data across a number of London areas, the city of London had dropped 12% in one year, Greenwich the same. It wouldn't surprise me if that's been the case for the last 3 years which seems to be what the papers were reporting. Although no doubt this also probably masks subareas that are doing rather better than the average.
If you look at the detail of some of these reports over a number of months, they are hiding much bigger falls in some areas than the headlines state.
Any stats taken from asking prices are also meaningless. You can ask what you like, doesnt mean anything.
Im not saying the london property market isnt softer, from my current experience of buying / selling and letting, it is, but some of the metrics and scaremongering used here are at worst nonsense and at best wishful thinking.
Im not saying the london property market isnt softer, from my current experience of buying / selling and letting, it is, but some of the metrics and scaremongering used here are at worst nonsense and at best wishful thinking.
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