The cheapest streets in the country are in towns in the north of England and in Wales.
The cheapest street of all is Angle Street in Burnley, where the average house value is £32,400. It is followed by Fernhill in Mountain Ash, with an average value of £32,700.
In the North-East, you can pick up a house for £39,600 in Haig Street, Ferryhill. In Yorkshire and the Humber, Alfred Street in Halifax is the cheapest in the region (£42,200).
In the East, the cheapest street is Austin Avenue, Clacton-on-Sea (£51,600); in the East Midlands it is Recreation Drive, Shirebrook (£48,500), and in the West Midlands the honour goes to St Cecilia Close in Hoobrook (£43,800).
Even London has some bargain areas: the cheapest is Arthur Street, Bexley (technically Kent, unless you’re Mouseprice, which brings us this information) with an average value of £99,900.
In the South-East, Plaintain Court in Milton Keynes has houses with an average value of £45,200, making the South-West look expensive – there, the cheapest place is Cheriton Close in Plymouth (£65,300).
Mouseprice did its sums by analysing Land Registry transactions since January 1995.
Comments
There is also a small matter of the money laundering act to consider too.
Brit.
Here is yet another point of view you may be interested in.
I started my own agency about 4 years ago, We had about 3 months from a good market before the so called crash. Do you know what? I wouldn’t have it any other way. I am loving it. Good agents thrive when the going gets tough and it has knocked a few of my competitors out. Those that are still in the game now will still be in it next year and the year after that.
When I say good agents, I mean the ones that WILL be looking to qualify you before you even get through a vendors door.
First Time Buyer.
Ill answer for her mate, well as much as I can……………
A mate of mine who was an EA for ages gave it all up after his salary collapsed and went into double glazing sales when it was really tricky in 08 and he had to do commission only, his leads come off the internet and he loves it, hours aren’t ideal but last time I saw him he was in a new M3 Convertible and loving it / earning £2k a week and wouldn’t consider coming back to EA.
The point is, some people are good at earning money this way and estate agents are often a good breeding ground for blokes like him, in fact another mate of mine was a manager in an EA and jacked it in to sell life insurance self employed and is doing very well out of it when he’s not off on another nice holiday.
So, I think the answer is that yes she could if she had to / wanted to, most of us could and do alright from it.
Jonnie
Today's house prices are undoubtedly an emotive issue. To some, they are a timely boost to a pension pot at the end of a working life. To others, they are a barrier to something that has been a rite of passage in British life and a source of tough decisions like delaying the start of a family.
In the past, house prices have followed a boom and bust cycle. To those waiting to make a purchase, the credit crunch of 2008 seemingly heralded the beginning of a sustained period of price declines after an extended bull run.
Those declines have however been partly reversed or wiped out in the past year. Again, depending on your point of view (and probably age) this is either welcome news or a huge disappointment.
Some will argue that low interest rates among other factors have prevented the biggest bubble in UK house price history from properly deflating. Others will claim that a new paradigm has been reached whereby home-ownership should not be taken for granted the way it has been in past decades and today's young people should expect much longer periods renting if they can ever afford to make a purchase on what is after all a small island
I wont bore everyone with my take on this (you can probably guess), but it goes without saying that there are some incredibly strong feelings out there on this subject.
Dear Brit1234,
I am not going to be as ruthless with you as others but on your auction point I am sorry to be the bearer of bad news but in an auction sale, more so than a ‘normal sale’ you will need to confirm / prove your financial position.
To address the online bit, I would love to close my expensive high street premises (I pay over £100,000 pa for one of them) and consolidate to one unit on a business park and conduct all my business via the internet, sadly that is some way off but like many other EA owners I know I will be the first to embrace this as soon as it is possible.
Turning to your correct observation on mortgage levels, you are of course right and from what I observe here on EAT and believe myself based on 38 years experience lower prices will create higher transaction levels, a situation I would very much relish
Elaine P back to the question. Do you reckon you can sell double glazing over the phone?
That is if your job is lost, hopefully not though.
FTB
I'm going to just keep saving and one day house prices will be affordable. Lets hope we have more drops like yesterday otherwise I may have to move to Burnley.
wow! all those qualifications, all that experience but when the ladies ask "shall we go back to your place?" The answer has to be. "Oh alright but Mum and Dad might not be in bed yet"
BRIT1234 – I cannot help myself but smile at your hopeless grammar so yes let’s see how we go on job applications. International bank yeah – doing what cleaning the bogs? Lets see how ‘sort’ after you are you illiterate idiot.
Also, if your dream of lower prices comes true why does that put me out of work? Lower prices = higher volume = me still in business so as if you need it you look even more like a poorly educated joke
Good by (yes moron you cant even spell that)
Oh dear,
ElaineP and co, my god it’s getting spikey round here today.
Look BRIT123 is a bit of an extremist. It’s his right, think of him as one of those radical religious types, he’s got his view; we don’t all agree or at least to the same extent and you won’t ‘convert’ him.
He’s got himself in a right lather about everything that might happen to bring prices down and you should just leave him alone to shout about it, unless he starts blowing up things (probably our offices) in the name of the HPC god he’s harmless.
You never know in years to come he might grow into a ‘Vendor’ and calm it a bit rather than banging on like some combination of knob head student union rep / religious extremist.
The point is it’s a free country and everyone has the right to ‘Do a BRIT123’
……………………….in fact that could be a new phase as in; ‘Poor sod, ignore him he’s doing a BRIT123’
Jonnie
Elaine P
Lets see who has the most transferable skills in the private sector when you estate agency goes under. Mine or yours?
I quit fancy my private sector financial experience for a major international bank, military experience and on top of that working in a highly sort after government post not to mention my academic and professional qualifications.
I suppose you might be skilled enough to sell double glazing over the phone.
Good by all. :)
Brit1234 - no i am not going to tell you or help you, you are just a rude pointless little person.
Agent Still
I know about house prices and I know about economics. I am confident that they will continue to fall even in a couple of years time.
Would you like to explain how they are going to rise when inflation is way above wage rises? This is before the low wage rises in the last couple of years or when wages next year become frozen. Tell me where this magical money is going to come from to boast prices?
Tell me how they are going to go up as Portugal collapses taking down Spain next and Greece defaults with the attention turning back to the UK after Italy?
Do you really thing the situation is that rosy that everyone is content to pay peak 2007 prices and higher.
Agent it is time for you to get real.
BRIT123 Thanks for the advice, glad ive got you here to help me with that – what sort of burger flipping hateful little occupation are you in? are you a nobody civil servant about to be sacked with no prospect of employment in the private sector or just a pointless graduate with a degree in idiocy? Whatever, read what Jonnie etc have said about the mortgage confirmation issue at the point of offer and unclench a bit about it, also last time I looked Tesco’s online estate agency has been done with Haarts who are an estate agent.
Ill informed moron, get over yourself, try to stop looking such a t**t and ill have fries with mine. If you ever start to actually deal with estate agents you will struggle to find one who wont want confirmation of how you are buying it but hopefully you will sit there with your thumb up your arse bitching an moaning about how the world owes you a house at the right price for so long we will never have to deal with you
Brit1234 - I've just wasted 10 minutes of my life reading these comments, and to summise - you know jack sh*t about estate agency, house finance and the housing market. Its you who needs to get real, although i guess you are too stubborn to buy a house now, you will buy though in a few years time when prices start to rise again and those very actions are what fuels a boom! so thanks you and your HPC mates will be responsible for us agents being able to feed the kids again.
If it comes to it that all estate agents want to see all your finances when you put an offer in (highly unlikely) then you go else where. You have no legal right to this information.
There is increasingly alternative and new ways of buying a house. Either auctions, online only EAs, Tescos maybe or self sellers. If EAs are that stubborn and ignore genuine offers because the buyer doesn't want to show his hand then we just avoid the high street estate agent shop.
Mortgage transactions are half the usual number, the austerity cuts have just started, EA pay is falling way behind inflation and house prices falls are escalating. If you want to survive you better start getting real.
Mike would you like to show the rest of the article
"Mortgage approvals for house purchase rose to 46,967 last month from an upwardly revised 46,152 in January, slightly higher than the previous six-month average and the best reading since November.
However, mortgage approvals are still running at around half their long-run average and most economists expect the housing market to remain subdued for the rest of the year."
;)
http://www.reuters.com/article/2011/03/29/britain-economy-mortgages-idUSLDE72S0QU20110329
That's an extra 800 approvals during the so called spring bounce, your so called boom season. lol
Mike - So in the midst of the "Spring Bounce", mortgage approvals have only gone up 2%. Things are really grim for vendors out there, given supply to the market is increasing significantly more than that.
I assume you've seen yesterday's Land Reg data showing accelerating house price falls in almost every region in the country. Yes indeed. Those silly little lot over at HPC haven't got a clue what they are talking about.
For what it's worth, I am involved in my company's scheme and have been for a while now.
I'm also a prolific saver, but I prefer security over risk. At the moment, I'm earning 2.89% before tax (so, 2.3% ish after) in an online saver. I shift my deposit around every 12 months to get the best introductory deals. I will however admit that my preference for security is currently earning me interest at a rate below inflation. Since I am saving for the sole purpose of buying a house though, I take into account that house prices are on the whole declining at present.
"February Mortgage Approvals in U.K. Increase to 46,967, More Than Forecast-Bloomberg
By Scott Hamilton - Mar 29, 2011 9:40 AM GMT+0100
mortgage approvals rose to 46,967 in February, the highest level since November and more than economists forecast, suggesting the property market is stabilizing."
Better get out of the rented slums fast! Sorry HPC loonies, couldn't resist it.
Thank you Rant, it is only a guess but if you are busy saving for a deposit, you probably haven't started the big save yet. The big save is to provide an income in your old age. Most financial advisors will recommend start saving for a pension early blah blah blah. Pensions are great if you know you are going to get more out than you put in. As the rules stand it is only possible to draw out 25% as a lump sum on reirement leaving 75% in the hands of god or fate.
Most pension providers are simply shocking investors or are really good investors with clever ways of paying out appalling returns. Most BTL landlords aren't accidental investors but are general public who have educated themselves that property provides a properly flexible index linked pension that can be cashed in or passed on to relatives. For this reason alone the affordable properties FTB's want to buy are the properties that Pension Landlords are buying. Unless I want a lump of cash there is little chance of any of the portfolio ever becoming available.
There is a social change happening where there will be Owners and Renters, if you are happy to be a life long renter so be it carry on. If you have aspirations to buy do not ignore advice to buy as soon as you can. If you were to buy in Burnley for £32,000 and only got £75/month in rent you woyuld still be doing better than having your cash in the building society.
Well, if you are in for the long-run (ie, not planning to sell up and evict the tenants if prices fall) then I say good luck to you. Every housing market needs professional landlords, rather than the amateurs and accidental ones that we seem to have loaded up on in this country.
God knows why but im going to chuck a view in on this ‘letter through the door’ malarkey and hopefully help Simon out a bit
Ill give a scenario based on real events not that long ago;
Chap comes in, wants a house, doesn’t want to see my mate upstairs that does the mortgages, takes house details, my neg rings next day to follow up visit to office and books the chap into three houses we gave him and one that has just come on that he didn’t have, straight forward so far.
Bloke loves one of them and comes back after second look with his Dad and makes an offer, normal questions apply – how are you funding it, who with, how far has it gone with an AIP etc can we talk to them? – no to all of them, cant see why we want to know, after all we have met him 3 times and he says he’s good for it so that should be enough for us.
So, Simon, what did we do? – well we put the offer forward and advised the vendor we could not establish anything about his finances (that’s the transparency thing popping up), thought we could win the buyers trust later and advised the vendor to focus on agreeing the price subject to establishing the financial detail – which they did.
………………….so (and im loosing the will here…) the buyer still wasn’t having it and would not reveal anything about his finances so we told him we couldn’t agree a sale with him, what did he do? Yup, went round to see the vendor, what did the vendor do? Told him to confirm his financial position / sling his hook.
You see, if you assume everyone is as……………can’t think of the word…….. as you then no one takes you seriously and if you make the mistake of using the stereo type 1980’s version of estate agents when dealing with us then you are also a fool as your whole ‘im not telling’ plan depends of everyone being as much of a berk as you, which we are not and sadly for you neither is a well advised vendor.
Good luck with it though, perhaps when you go to a pay at pump petrol station where you put your debit card in first you can have the argument with the Morrisons manager that you don’t need to prove you have the money before filling your tank, if he will let you off im wrong and you are right.
Jonnie
you really don't get it do you rant? that is one more property not available to the market for a very long time.
It does not matter what happens to prices short term. The xyz drop in prices will not affect me 1 jot. All I will do is own another property outright in 18 years. Even if it is only worth 10% of its value then, I will still be getting a rent which is index linked to the cost of living in 18 years time.
I might not be keeping you out of a property but I know for certain that a person just like you is mighty pissed that my ability to buy what I like and when I like.
£400/ property might not be very much of a margin right now but in 18 years time @ 4% CPI x10 properties with no mortgage. My retirement income wil be over £10k/month.
Every time you boys post you sound more and more pathetic!
Wardy: Very True
Had a letter through the door situation just a couple of months ago.
Vendor selling a wreck, find him a buyer, surveys down, under offer. Another dodgy looking buyer comes into our office, seen property on website, would like to view, gets told under offer.
Two hours later hes knocked on Mr vendors door, vendor reluctantly shows him round, then offers Mr Vendor 10K.
Mr Vendor wants to now go with the new higher bidder, who is confirmed as cash buyer, We advise vendor against it as we have a suspicion somethings not quite right with this guy.
Four weeks later, Mr 10k extra, pulls out after he has surveys done.
We sold it again shortly afterwards.
Greedy vendor yes, Letter through the door buyers, pain in the rear.
Simon, you forgot the bit in the middle.
HD tells his clients that your a complete waster and have something to hide. HD (like me) has delt with many 'note through the door' trouble makers like yourself before. HD then finds a buyer who is only too happy to prove affordability and sells to them instead. If your lucky you may win the vendor round but the good news is HD gets paid anyway.
Great innit!
notbuyingyet - that is a good summary and sums up the views of a lot of people I know. As you have explained, the idea that a crash in prices is going to result in hordes of BTL investors snapping up property is clearly a myth. By that point, most people who have the funds to invest in BTL would have done so already and, if prices do continue to decline to YOY falls of greater than 10% a year, they are going to have got their fingers so burnt they will give property a wide berth in the future.
Despite the default view that appears to be in place on this site, there are of course other things to invest in other than property. Most have produced far better returns in recent years. I do pity the anonymous poster toward the start of the comments who, if I understand correctly, has recently taken out a loan to invest in a BTL. They have purchased an asset that latest data suggests is declining by an average of 1.2K a month in nominal terms and 2K in real terms. They seem chuffed that the 400 quid they are 'making' is reducing their net losses to 1.5K a month - and that's before interest rate rises, empty periods and maintenance has been factored in. I really hope I am never sat on the opposite of a desk listening to this person's financial 'advice'!
Jonnie - you are a character! You ask people not to bait Brit1234 and then in the same post go on to call him (I assume 'he') bonkers, weird, an underachiever, closed to other ideas and comparable to an STD!
In any investment, the key of course, is sell close to the top and buy quality at the bottom. All these opinions are very well, but actions count.
Buy when you think its about bottomed out or carry on renting to fund someone else’s pension in 20 years with a loan free property, today’s few % movements are almost an irrelevance.
"Whole of market" headline movement matters not one jot.
Simon
"I too would not give my financial details to an Estate agent, they can pass on my offer and that's it, they don't need to know my limits or deposit. After all their role is to get as much money for the seller not help out the buyer. The seller pays their wages. "
If you want the agent to put your offer forward they need to know your financial situation in relation to buying the property. As a vendor I would not agree a sale without being sure you have the funds.
Simon: I wasn't suggesting to get your pay slips, p60's out, we aren't Finicial advisors.
You had put in your previous post, you would not make an agent aware of your deposit, then it thenext you said you would.
We do not take this information for the fun of it, its there to help support a buyers offer to vendor.
Also, I had never suggested anywhere in my posts that we would not pass on an offer, all offers are passed on in writing, regardless of whether somebody has given us there deposit details Etc.
Giving an agent as much information as possible is only going to help support an offer.
Choosing to wait to buy a home (because you think prices will fall) doesn't mean you are treating your home as an investment - it just means you are not someone who likes to throw their money away.
If I thought houseprices were only going to fall 2,3,4,5% - big deal, I would buy now if I saw a property that I liked. It's not really worth waiting around if that's the worst case scenario.
If however I thought prices were going to fall 10,15,20% say, I would have to be pretty stupid to borrow tens of thousands of pounds more than I needed to in order to have my own house now.
When I analyse the state of the economy, everything screams at me that prices will fall significantly - because of that I will wait. I guess most estate agents ostensibly have a different expectation of house price falls, in which case their argument for buying now makes sense.
With regard to first time buyers facing high levels of competition if there were a price crash.............I think a lot of buy to let companies wouldn't get in on the game unless they were cash rich, as their current portfolios would be sitting in negative equity, making it difficult for them to borrow. The main competition would be cash buyers or people with good deposits and able to move quickly.....renters come to mind;-)
Simon: please do not take these views to be the views of all estate agents. They are simply the views of 2/3 estate agents who are selling so many houses, they have time to post on here all day.
Sensible and sustainable price levels 3-4 times salary, the historical norm.
HD I'm not prepared to give my haggle information to you, I will have my mortgage in principle ready with deposit and costs saved. I will happily tell you I have you and may give a flash of the paper work to show I have them but hiding key info. I also won't go to an inside broker because that I believe is showing my hand.
If you don't like that I will go to another EA and post a letter through the door of the house I was interested stating the EA wasn't prepared to pass on my offer.
I am also not worried about what if situations when prices reach near bottom as my fiances are in order unlike others.
Simon: Explain what a sensible level is?.
Also if prices did suppoedly crash, you will have a heck of a lot of competition on your houses if you find a house you like, and if you dont provide any agent with your basic financials you won't stand in good stead.
Put the shoe on the other foot, you are paying an Agent to sell your home (when and if you do buy one, and he doesn't do any background checks into a potential buyer. Would you seriously be happy?
Right you lot, that enough of Brit1234 baiting.
I like people like Brit, keeps it more balanced, he / she is a bit of an extreme case yes, a bit of a bitter twinge (ive been to Uni and all that stuff) but as our mate Rant has shown on numerous occasions but in a much better way there is a part of society that has very fixed ideas, wont listen to anyone that has anything to say that they don’t like and will not buy a house yet, even on a road where they are just over 1 times the average salary.
PeeBee – you are a repeat offender on winding up people like Brit and ive certainly been more than an accomplice to you in recent months but the more properties we sell here at Jonnie & Co the more I accept that some people agree with Brits views and some don’t, luckily the ones that do keep vendors expectations level.
To sum it up, when everyone including the Brit types wanted to buy a property vendors were impossible and filled with so much confidence that it all got a bit silly, with the Brits of this world adding a bit of balance we can have it a bit easier.
Bit bonkers? Yes, bit of an underachiever? Possibly, bit weird for hanging around and estate agents blog? Might be but essentially needed – like STD’s, where would we be without them?...................all bedding each other without a care in the world, that would lead to an all out orgy and that cant be good.
Jonnie
One thing that does make me think about Brit though – if they have a 25% deposit, its 25% of what? Im sure we wont have an answer on that but an interesting question
So all you estate agents thinking people not buying now is all about greed. You must realise that house prices are vastly inflated. That is the real reason that the number of first time buyers is falling, they can't afford to buy. It's all about the high prices that's why people follow land registry figures with hope when they are falling.
I too would not give my financial details to an Estate agent, they can pass on my offer and that's it, they don't need to know my limits or deposit. After all their role is to get as much money for the seller not help out the buyer. The seller pays their wages.
I'm waiting till house prices become more sensible before I buy. Not buying while prices are only starting to crash.
"Where I live even with my good deposit I have to stretch my self to get a studio in some slum"
This sentance says a lot about what you are dealing with Peebee. He can't afford to live where he wants to live. Usual problem Champagne taste, Beer money!
Brit1234: "House prices are falling, they will continue to fall for a while yet and hopefully correct to normal levels."
I repeat my previous questions in the hope that this time you will answer:
Define "normal levels", please.
YOUR definition. Quote FIGURES, not percentages.
WHERE YOU want to buy: WHAT you want to buy: HOW MUCH you want to pay.
Then - and ONLY then - can we debate the point further.
Pity Brit hasn't worked out which proprties are falling in price. Without the specific data that says the property type he is after is falling,he is relying on national headline nfigures to support his position. Peebee you are wasting your time trying to communicate with folk like him.
He has stated that he won't ever give any Estate Agent details of his finance which effectively rules him out of ever buying from any Estate Agent. He will have to buy from Sarah Beeny or Peter Hendry.
Peebee never tried to hide a hard saved deposit and not looking as property as an investment. I'm not paying anyones mortgage.
At uni I learnt about marginal land. Where I live even with my good deposit I have to stretch my self to get a studio in some slum. Using common sense I know by waiting and saving more with prices falling I can get more for my money.
House prices are falling, they will continue to fall for a while yet and hopefully correct to normal levels.
Buying now is foolish.
Brit1234: "With respect Peebee, there is no way I am providing my financial details to an estate agent. Not now, not ever. "
WHAT?? You post on a site anonymously, and you state the above? And to think I credited you with some sense...
But then to WHAT YOU DID state...
"I will choose where, when and how much to pay for a property.
You may want me to buy now but by waiting and saving harder I can buy cheaper, better at less risk.
It's all about being smart with the biggest purchase of your life not some desperate race to get on the ladder at any cost."
So - the truth is out. All the other stuff you have previously spouted appears to be pure b0110cks. You are no cash-strapped FTB - you allegedly HAVE the money to purchase; you simply CHOOSE not to buy because you don't want to wake up in a week and find your 'investment' has gone down by sixpence.
It is NOT an investment; it is first and foremost a roof over your head! Yet you prefer to live in someone else's property; pay someone else's mortgage to provide you with that - then sit and moan that the world isn't fair on little you.
What is it with you people?
With respect Peebee, there is no way I am providing my financial details to an estate agent. Not now, not ever.
I have a sound understanding of economics, fiancé and general maths. I have also great understanding of risk management learnt at uni. I will choose where, when and how much to pay for a property.
You may want me to buy now but by waiting and saving harder I can buy cheaper, better at less risk.
It's all about being smart with the biggest purchase of your life not some desperate race to get on the ladder at any cost.
I have a good quality life renting and saving, there is no way I am buying some ones falling overvalued home to bail them out at the expense of my prudent saving.
Prices are ,still very overvalued and falling. You may quote supply and demand but there are a great deal more sellers out there than buyers with the funds. You can,t have the demand with out the money behind it and there is little money.
Prices are falling like it or not.
Glad we're making you happy.
You also seem to come across as a thoroughly likeable gentleman.
Doing some work this weekend on a starter home I completed on last week, a cranky girl and would be husband were moaning that they had set their hearts on my new BTL. It seems they were all ready to go, mortgage fees the whole lot paid for but were holding off the vendor for a price drop. The vendor was more than delighted that I exchanged and completed in 14 days so were their dependant purchase and the chain behind them.
She must be an old friend of the family, she new my mum and dad weren't married and that I tug myself off.
How satisfying for all concerned that she is a few hundred quid and the house of her dreams out of pocket. I advised "would be Mr " that he ought to get a long way from the nasty shrew. In a way I really hope the prices do drop now, it will make it worse for her. Tenants move in next saturday, the rent is £400 more than the mortgage.
I like folk like Brit and Rant, they make vendors very receptive to common decency and a purchaser who just gets on with it.
This has very quickly become a 'commonly held myths' thread.
Wonder if someone right now is typing that 'house prices double every seven years'...
RR; No unmotivated buyer group Im afraid, as if your unmotivated, you aren't going to want to buy, so your not even a buyer.
Anna - you are absolutely right. It is all about supply and demand. Absolutely.
In recent years, people have gone to the banks and requested ever larger amounts of money to buy a house (demand for credit). The banks willingly agreed (supply of credit) to such an extent that they nearly bankrupted themselves and brought the global economy crashing down.
Larger amounts of money sloshing around any market leads to price increases. It is a well known economic fact.
The question then arises - what happens when the amount of money in that market contracts sharply?
@Brit1234
It would seem that you, as do many others in the same situation as you want what they cannot have a cheap 'bargain' on their terms.
I have been in the business for many years and have seen most of the ups & downs and 'average' prices may fall a little more. Supply and demand you say. Well in my view we are getting closer to that balance in this particular cycle.
Many owners will not or cannot sell at a big loss and builders will not build unless they can sell at a reasonable profit.
Do not delay too long or you will miss the boat, as many have in the past!
HD - I'm glad to hear you are dealing with people who want to buy a home. That's what houses are for after all isn't it? Thankfully in the UK we don't have people trying to use property for speculative purposes, as an investment or to make a quick penny or two.
You mention that there are 'motivated buyers'. If at the moment there is also an 'unmotivated buyers' group, mark me down as a member.
Brit1234
Supply and demand. I know it's tough but that's life.
Brit1234: Hopefully I now have your attention, seeing as you are currently posting on this story. You seem to drop in on a particular thread, bait your traps then skip away to never return, hoping that all the mice nibble away and drop down dead so you don't have to deal with them again. Not the case, I am afraid. THIS MOUSE is going to keep nibbling...
To repeat what I have said on the last subject you started on, that of the Budget proposals for FTB assistance for new home purchases:
I'm obviously in a thick mood, as I simply cannot understand what the h3ll you are banging on about! Please enlighten me, based on the following:
You said "I have the 25% deposit I have the fees and I also have more money for furniture. What I haven't got is houses or flats in my range despite a good paid job."
HOW haven't you got houses or flats in your range? WHERE in the UK (general guide only...) do you live and plan to buy at some stage?
WHAT IS "your range"?
How much deposit DO you have?
It is vital in order to discuss this further that you quote actual figures.
(I was going to suggest 'massaging the figures' by a constant %age in order not to divulge too much, however that would defeat the very object of what I am trying to ascertain here...)
In a later response, you stated: "...my deposit may actually be greater than 25% but far off 40%"
WHY do you then bring 40% into play?
I know you don't want my (or anyone else's...) help, and just want to sit and wait for property market Armageddon - but at least we can debate your personal situation, surely? ;0)
I look forward to your response. Somewhere. Sometime.
Brit1234: Thank you for the valuable business advice. As we do value all of our properties correctly, we do sell most of them.
Are you saying people purchasing properties at present are reckless?
I would say not, because people are buying a home to be a home. Security,hapiness and an assett.
THe market is what it is, If people want to buy, have a deposit and can obtain a mortgage, but keep moaning that prices are too high, theres one conclusion, They want what they can't have.
Yes every where is overvalued, caused by the boom in cheap credit, mass fraud and to low interest rates.
I don't care about you so called motivated buyers, priced out first time buyers however do care about drops in land registry prices.
I think you are confusing motivated with reckless buyers. We have had a giant housing bubble, there is no more money to prop it up and privies are falling to normal levels.
If you want more sales convince your sellers to price affordably.
Brit 1234: Properties are over valued in your eyes. Not every area is over valued otherwise no houses would be sold at all.
Motivated buyers do not sit their monitoring the land registry and worry that houses prices are falling by .8% month by month.
I wouldn't call these bargain areas, that is just property speculator talk.
The truth is all areas are overvalued and need to fall back to historical levels. At least prices have now been falling for months now and set to continue falling.
Today Landregistry prices are down at -0.8% month on month and down -1.7% year on year. More falls are needed for us first time buyers not dodgy deposit gimmicks.