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House prices

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By (user no longer on site) OP   
over a year ago

Are they falling yet, how much will they fall, how much were they overpriced, derby has started to come down but not enough for me to get in the ladder yet, what to do?

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By *mateur100Man
over a year ago

nr faversham

Mystic meg can't help you

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By (user no longer on site)
over a year ago

They have been falling for a couple of month around here but they are still way overpriced. I do wonder how the younger generation will ever get on the property ladder.

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By (user no longer on site)
over a year ago

If Jim was here he’d say 42.

Me? I don’t know it’s a gamble isn’t it? Do you wait or do you move now? People thought house prices would fall after Covid but they actually went up, good luck anyway, hope it all works out

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By *mma29Couple
over a year ago

wirral

If your in no rush I'd wait as they will come down a bit more.

But then the interest rate is going up. So what you save in one hand you will pay with the other.

Get as much deposit as you can .

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By (user no longer on site)
over a year ago

[Removed by poster at 15/12/22 21:25:25]

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By *ryandseeMan
over a year ago

Yorkshire

The problem with falling prices, of they fall too much, is that lots of people will fall in negative equity again and with mortgage rates going up will be stuck. What's good gor some not so for others.

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By *rontier PsychiatristMan
over a year ago

Coventry

Mortgage rates go up, peoples ability to raise funds decreases. However supply remains incredibly low. Maybe a wave of repossessions may have a slight effect but I don't see house prices dramatically falling. Just more people staying put and bunkering as the market and economy cools down. So maybe even less property on the market and less sales transactions. Which will help hold up prices.

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By (user no longer on site)
over a year ago

Just my opinion..

In the short term they’ll fall as interests rates rise, recession bites and people stay put rather than move.

Longer term they’ll rise because we’re a nation of home owners; and demand for housing outstrips supply. Has done for years and will do until/unless new house building dramatically increases for a number of years to catch up

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By (user no longer on site)
over a year ago


"[Removed by poster at 15/12/22 21:25:25]"

Hit the delete button swipeing out the thread mmmm

Couldn’t tell you I don’t have any insiders in the houseing market

Like I did the crypto market

Whare I could warn people a year and hafe before it happened you can look back posts on fab and see for yourself that I had the inside info

But it’s not as if they headed my warrings anyway

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By *ightkitty4uWoman
over a year ago

Epsom

I can but hope they come down, would love to buy a home so I dont have to pay rent for the rest of my life

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By *rontier PsychiatristMan
over a year ago

Coventry


"Just my opinion..

In the short term they’ll fall as interests rates rise, recession bites and people stay put rather than move.

Longer term they’ll rise because we’re a nation of home owners; and demand for housing outstrips supply. Has done for years and will do until/unless new house building dramatically increases for a number of years to catch up "

The housing shortage is so bad even if construction went full pelt it could be decades before supply and demand is balance. Plus (realms of conspiracy theory here) I suspect many in high positions do well out high property values and their general trends of increasing in value significantly long term. Just look at property bought in the 90s, even after a huge property crash and maybe a smaller dip in the next year its still made super inflation betting value, especially if its also been generating revenue. So one wonders exactly how truly dedicated those in power are to building enough new homes for our exponentially rising population? It seems to me to some extent the ownership of property is power.

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By (user no longer on site)
over a year ago

Agree.

House prices rising give a feel good factor to homeowners that spreads out into other areas of the economy.

No government that wishes to remain in power will want to preside over a housing market where prices are stagnant at best or long term decline at worst.

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By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria

Estate agent told my cousin a couple of weeks ago to expect a 25% drop next year, she was looking to sell to pay off her ex but she won’t have enough equity in the house if that’s the case.

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By *ove2pleaseseukMan
over a year ago

Hastings

I purchased a house in September 89 and by Christmas was worth half what I paid for it and the interest was about 13% gave the keys back.

Any one thinking of buying wait till interest has stopped going up and the market has leveld off..

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By *ack688Man
over a year ago

abruzzo Italy (and UK)

I read recently that the current estimates are that this year will still end up showing an increase over the year even though prices have started to fall, next year is due to show about a 3% fall and the year after about a 5% fall before they start to increase again in 2025, so if you’re looking to get on the property ladder, waiting a couple of years seems the best option if that works for you.

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By *old HoopsWoman
over a year ago

Near Chester


"I purchased a house in September 89 and by Christmas was worth half what I paid for it and the interest was about 13% gave the keys back.

Any one thinking of buying wait till interest has stopped going up and the market has leveld off.."

Damn. Did you ever buy another one?

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By *rHotNottsMan
over a year ago

Dubai & Nottingham

Yes. A little , probably 10% next year who knows.

Not a great time to get on the ladder with fixes likely at 4-6% next year and below inflation wage rises in the uk unless you have a lot of capital or can work abroad and repatriate your mortgage payments without paying tax.

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By *rHotNottsMan
over a year ago

Dubai & Nottingham


"Estate agent told my cousin a couple of weeks ago to expect a 25% drop next year, she was looking to sell to pay off her ex but she won’t have enough equity in the house if that’s the case."

It’s could happen. But it’s highly unlikely. A lot will depend on Russia , if the 300K turn out to be for a war with NATO it could happen. If Europe & America admits they made a stupid mistake and apologise to Russia , they might still sell their enemies gas and things could recover very quickly even if the war doesn’t end

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By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria


"I purchased a house in September 89 and by Christmas was worth half what I paid for it and the interest was about 13% gave the keys back.

Any one thinking of buying wait till interest has stopped going up and the market has leveld off.."

Interest rates were shocking back then, my first mortgagee was 15% only had the house a couple of years and sold for not much more than paid, wasn’t an ideal time to have a mortgage that’s for sure, thankfully we are mortgage free and would prefer interest rates to be higher now, always seem to work out the wrong way

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By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria


"Estate agent told my cousin a couple of weeks ago to expect a 25% drop next year, she was looking to sell to pay off her ex but she won’t have enough equity in the house if that’s the case.

It’s could happen. But it’s highly unlikely. A lot will depend on Russia , if the 300K turn out to be for a war with NATO it could happen. If Europe & America admits they made a stupid mistake and apologise to Russia , they might still sell their enemies gas and things could recover very quickly even if the war doesn’t end "

Time will tell, house prices have gone silly, just sold one nearly 50% more than we paid for it 5 years ago, which is crazy to how things were.

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By (user no longer on site)
over a year ago

I know a mortgage adviser who's very good. They have access to some very good deals and can get upto high loan to values and loan to incomes if you need

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By (user no longer on site)
over a year ago


"I can but hope they come down, would love to buy a home so I dont have to pay rent for the rest of my life "

Know someone who can help you on the ladder if you like

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By *ove2pleaseseukMan
over a year ago

Hastings


"Are they falling yet, how much will they fall, how much were they overpriced, derby has started to come down but not enough for me to get in the ladder yet, what to do?"

Personly I would wait till they bottom out or start to go back up but be reade with as big a deposit as you can then move fast....

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By (user no longer on site)
over a year ago

No real effect here in rural Carmarthenshire.

Demand has dropped off a little in the usual Christmas lull, but is expected to pick up again in the next couple of weeks.

Prices are still steady and not expected to fall from current values due to the value for money, connectivity, and lifestyle here compared with many other more expensive areas of the UK.

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By *otsossieMan
over a year ago

Chesterfield

Things aren’t really kicking in yet. Give it a year or so.

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By (user no longer on site)
over a year ago

hmm

only those desperate to move would sell for less than they paid for..

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By *atisfy janeWoman
over a year ago

Torquay


"Estate agent told my cousin a couple of weeks ago to expect a 25% drop next year, she was looking to sell to pay off her ex but she won’t have enough equity in the house if that’s the case."

Sorry but that's nonsense

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By *carlett CumslutWoman
over a year ago

cardiff

Still rising in my area, just about to start a full renovation on my house and had an agent out to value it with opinions on price after work is completed and was shocked at how in 4 years the price has already more than doubled!

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By *ttmcdguyTV/TS
over a year ago

Milton Keynes

New house building market is vey slowly declining

Announced beginning of December that several of the big companies are now only going to build what is pre sold from plans

New build always has and always will go quiet over Christmas period

But never heard big players announce they will only build pre sold plots

They obviously Batterning down the hatches awaiting a storm

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