Reply to: House prices - monster doom....

[Wilmslow]

That much on Colshaw? You're kidding!

Hey, you should see the prices in Wythenshawe!!

South Wilmslow if you don't mind fella....

[Diver]

House prices set to rise by approx 25% over the next 5 years.

Linky

[Alf W]

A year ago my house would have sold easily for £240K.

Now up for sale at £230K, estate agents advise £205K to have a chance of sale.

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

House I really want to buy is a lovely detached bungalow - one up the road (in much better interior condition) sold for £320K. The one I want to buy was £280K, now £260K meaning £250 with the stamp duty threshold.

Utter madness!

That much on Colshaw? You're kidding!

[Hiram King Of Tyre]

It amazes me that people talk as though this is a suprise

[Xenophon]

That is on hell of a drop - I'll offer £251 for it - cash!

[BoredBloke]

A year ago my house would have sold easily for £240K.

Now up for sale at £230K, estate agents advise £205K to have a chance of sale.

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

House I really want to buy is a lovely detached bungalow - one up the road (in much better interior condition) sold for £320K. The one I want to buy was £280K, now £260K meaning £250 with the stamp duty threshold.

Utter madness!

That is on hell of a drop - I'll offer £251 for it - cash!

[sasguru]

A year ago my house would have sold easily for £240K.

Now up for sale at £230K, estate agents advise £205K to have a chance of sale.

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

House I really want to buy is a lovely detached bungalow - one up the road (in much better interior condition) sold for £320K. The one I want to buy was £280K, now £260K meaning £250 with the stamp duty threshold.

Utter madness!

Returning sanity.
HTH

[BlasterBates]

This is my issue.

I am wanting to upgrade - albeit by just £50K, but, will be a pinch should prices continue to plummet.

Saving grace is worst case mortgage at £130K, and buying for £250K, so would take a lot to get my into dire doo-dah. Then again, if prices were not plummeting I would not be looking at a detached in Wilmslow (no ex contractor turned permie humour, please!!)

Just a case of price crashing mine, and hoping I get the house I want!

That's exactly it Wilmslow, if you buy the bigger house at the bottom of the cycle you then reap in a big profit quickly when the recovery starts, so evening out losses on your original house.

[ThomasSoerensen]

If we wait another year we will be able to buy one and get one free!!

already done

http://bigpicture.typepad.com/commen...ornia-buy.html

[Lockhouse]

Our house is going on the market in a couple of weeks - we're planning on selling up and going into rented for now. Not too worried about taking a hit as what we're planning to buy is also cheaper. I've also had a flat on the market since January - I'm going to pull that and re-let it as it's dead money empty and we've had no interest.

It's all relative - we sell for less but we buy for correspondingly less as well. Nothing's going to happen in the property market for a couple of years at least so our equity earning interest is a good move for us right now - as long as we can sell. It'll pay our rent and then some.

[VectraMan]

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

Why should it be worth £250K? You're making that judgement on bubble prices. From the amount it's dropped, it probably should be worth £100K.

[Bumfluff]

Mine is on the market, estate agent said put it up for £399k, but I don't recon I could even get £340k for it at the moment if that. A couple of houses down a young couple bought a place for £387500 last November, the house next door which is the same is now up for £320k !!! Another house round the corner was up for £469k in Feb they got £405k in the end !!!

[Wilmslow]

Your main point is sound Fred - the bubble has to burst to put sense back into the market.

But there is an issue - the bigger the house, the more you lose.

A £100,000 hovel losing 20% will only cost you £20,000, but the £400,000 property you want to move up to reduced by the same would lose the vendors £80,000.

This is my issue.

I am wanting to upgrade - albeit by just £50K, but, will be a pinch should prices continue to plummet.

Saving grace is worst case mortgage at £130K, and buying for £250K, so would take a lot to get my into dire doo-dah. Then again, if prices were not plummeting I would not be looking at a detached in Wilmslow (no ex contractor turned permie humour, please!!)

Just a case of price crashing mine, and hoping I get the house I want!

[stackpole]

Everything's fine as long as the cut goes all the way down the chain. Where's the issue? Maybe one day my kids will be able to buy a house as long as the price falls keep going.

Your main point is sound Fred - the bubble has to burst to put sense back into the market.

But there is an issue - the bigger the house, the more you lose.

A £100,000 hovel losing 20% will only cost you £20,000, but the £400,000 property you want to move up to reduced by the same would lose the vendors £80,000.

[Cyberman]

Everything's fine as long as the cut goes all the way down the chain. Where's the issue? Maybe one day my kids will be able to buy a house as long as the price falls keep going.

If we wait another year we will be able to buy one and get one free!!