Property Prices in realtime

[meridian]

Feeling rather smug as our house has just completed for the asking price.

So at least our cash is depleting by the difference between the real rate of inflation and the paltry interest you get on savings, rather than the reduction in house prices...

[vetran]

well in my area 2 years ago nothing was marked down on property snake, now lots are. So either things have been on the market for 2 years or the market has changed.

[oracleslave]

Indeed. As far as property dealings goes, England could and should have learned how to remove gazumping from the equation.

What he said.

[shaunbhoy]

Maybe England could learn something from Scotland?

Indeed. As far as property dealings goes, England could and should have learned how to remove gazumping from the equation. Instead they chose to introduce HIPs!!!!

[expat]

I think that this is a prove nothing site.

People will always put their house on the market for 10-20% more than they expect to get and tracking a reduction in asking prices proves absolutely nothing at all (except that people are greedy).

tim

In England, maybe. In Scotland, if you offer the quoted price you will never get the house. "Offers over" means exactly that.

Maybe England could learn something from Scotland?

[expat]

Yep. I do feel sorry for those people that will now suffer as a result of over stretching themselves to get a foot onto the ladder.

Not to mention those who stretched themselves to get a house to live in, without any desire to "get on a ladder" or invest in inflation or whatever.

When the main purpose of buying a house is not to have somewhere to live but to speculate on inflation, that is unhealthy. When that is exactly what they mean when they say "a healthy housing market", the lunatics have seized control of the asylum.

[oracleslave]

I think that this is a prove nothing site.

People will always put their house on the market for 10-20% more than they expect to get and tracking a reduction in asking prices proves absolutely nothing at all (except that people are greedy).

tim

That's kind of how I interpreted that site too.

[tim123]

Couldn't be bothered to read the links but Property Snake is an interesting site. If you want to know if any properties in your area have had their prices reduced, then this is the place to look! The main annoyance is that it doesn't always detail where the property is so you can't tell if it's the house opposite or three streets away.

I think that this is a prove nothing site.

People will always put their house on the market for 10-20% more than they expect to get and tracking a reduction in asking prices proves absolutely nothing at all (except that people are greedy).

tim

[ladymuck]

Couldn't be bothered to read the links but Property Snake is an interesting site. If you want to know if any properties in your area have had their prices reduced, then this is the place to look! The main annoyance is that it doesn't always detail where the property is so you can't tell if it's the house opposite or three streets away.

[PAH]

Yep. I do feel sorry for those people that will now suffer as a result of over stretching themselves to get a foot onto the ladder.

All they have to realise is that sometimes it's better to jump off the ladder and wait for an easier to climb one to come along. It always goes in cycles.

Shouldn't be as big a deal if they're on near 100% mortgages (or more!) to just default. People who have invested lots of genuine savings and not just paper equity will feel the most depressed, but that's life.

[miffy]

A lot of pain to be dished out over the next year or two by the looks of it

Yep. I do feel sorry for those people that will now suffer as a result of over stretching themselves to get a foot onto the ladder.

[PAH]

It looked too confusing for someone like me with the attention span of a ....

[ferret]

Surprised no-one picked up on this, too busy flirting by looks of it... Maybe having DOOMED in the title would have helped get a better response?

Not had time to read all 13 pages of comment on the HPC site:
http://www.housepricecrash.co.uk/for...howtopic=67772

Some of them going for 20 or 30% less than what they were sold for a year or three ago though. A lot of pain to be dished out over the next year or two by the looks of it

[BlasterBates]

Interesting link