Oh Dear House prices set to fall next year

[Chicken Run]

I guess it had to happen, boom followed by bust!

 

[Chicken Run]

Worst hit area's you guessed it the S. East

 

[Lammy]

That's what they said last year...

It's cooling off. Prices won't fall though.

 

[Chicken Run]

That's what they said last year...

It's cooling off. Prices won't fall though.

You try telling that to my neighbour who thru the need to sell has dropped by 15k

 

[Lord Bracknell]

Excellent news.

Whether they'll fall enough for housing in Sussex to become affordable again remains to be seen.

If people have bought property in the expectation that it will make them a tidy profit, all I have to say is ... TOUGH.

Housing is for living in, not for making money at the expense of rendering a whole generation unable to find a decent home.

 

[beorhthelm]

 

[ben andrews' girlfriend]

woohoo! i might have a chance of coming back to brighton after going to uni!

 

[B.M.F]

I know that my bank have budgeted a huge amount next year for losses due to an expected increase in mortgage rates and the fact that with borrowing at an all time high people will lose their houses even if it is only a 2 % rise.

Should not be happy about this but it a proprty crash is the only way I will be a ble to afford anywhere in Brighton & Hove

 

[Chicken Run]

woohoo! i might have a chance of coming back to brighton after going to uni!

That you might but youll need a job first!

 

[itszamora]

woohoo! i might have a chance of coming back to brighton after going to uni!

Same here

I totally agree with what Lord B is saying too

 

[Chicken Run]

Excellent news.

Whether they'll fall enough for housing in Sussex to become affordable again remains to be seen.

If people have bought property in the expectation that it will make them a tidy profit, all I have to say is ... TOUGH.

Housing is for living in, not for making money at the expense of rendering a whole generation unable to find a decent home.

Define affordable

 

[sully]

What Lord B said.



Hopefully, I will then be able to get a house with enough rooms for the kids to have a bedroom each before they're teenagers. Having "one of each" makes such things important.

 

[Chicken Run]

What Lord B said.



Hopefully, I will then be able to get a house with enough rooms for the kids to have a bedroom each before they're teenagers. Having "one of each" makes such things important.

But you will need to sell your's first

 

[eastlondonseagull]

I just managed to get back on the ladder over the summer up in London, and after spending £7K on central heating / renovations, the place has gone up £30K. But, as Lord B says, first and foremost it's a home. The slump is not going to be a huge crash like we saw in the 80s. Or at least I hope not. My brother bought a flat then for £60K and sold it for £30K. Total nightmare if you're forced to sell up.

 

[Lammy]

You try telling that to my neighbour who thru the need to sell has dropped by 15k

Was probably overpriced or had shit decco. prices are not falling in the south east but are definitely not rising AS MUCH.

It's not exactely a great shock as the resent level of price rises over the last few years was always going to be unsustainable. I would say only in a few select areas and individual cases will prices actually fall. It is far more likely that the prices will simply stagnate for a bit.

I totally agree with LB on the money making bit. There are plenty of houses in the south east it is just that the wrong people own them. The government have failed to make any taxation poilices (i.e. 50% stamp duty on second homes, 75% on third homs etc) that would eradicate this and free up affordable housing for first time buyers. Why? Well how many MPs own more than one house?

What is their answer? Build a shit load more houses in the most densely populated part of the country without a thought to what these people will do for water in the summer or how they will get to and from work or where their kids will go to school.

But that is a seperate rant....

 

[Bobby's Gull]

Same here

And me.

 

[Chicken Run]

Was probably overpriced or had shit decco. prices are not falling in the south east but are definitely not rising AS MUCH.

It's not exactely a great shock as the resent level of price rises over the last few years was always going to be unsustainable. I would say only in a few select areas and individual cases will prices actually fall. It is far more likely that the prices will simply stagnate for a bit.

I totally agree with LB on the money making bit. There are plenty of houses in the south east it is just that the wrong people own them. The government have failed to make any taxation poilices (i.e. 50% stamp duty on second homes, 75% on third homs etc) that would eradicate this and free up affordable housing for first time buyers. Why? Well how many MPs own more than one house?

What is their answer? Build a shit load more houses in the most densely populated part of the country without a thought to what these people will do for water in the summer or how they will get to and from work or where their kids will go to school.
But that is a seperate rant....

Accept for the fact he paid more last year for it

 

[Zeitgeist]

Excellent news.

Whether they'll fall enough for housing in Sussex to become affordable again remains to be seen.

If people have bought property in the expectation that it will make them a tidy profit, all I have to say is ... TOUGH.

Housing is for living in, not for making money at the expense of rendering a whole generation unable to find a decent home.

Spot on! Hopefully we'll see an end to crass "lifestyle" programmes where upwardly mobile types and spivy estate agents coo on about how house prices in the a certain area are booming and how a certain suburb is about to become the next "boom area". The whole mentality of seeing a house for profit in this country appears to be unique. (In Europe anyway)
Hopefully those who have found it impossible to find affordable housing in the past will at last be able to find something that is affordable when prices start crashing. Wait for all the sob stories about negative equity. Last time around, most of the hard luck stories were from those who had overborowed on the assumption prices would NEVER fall and they were onto a "sure investment". Sadly, people have short memories. 1990 wasn't so long ago.

 

[Lammy]

Accept for the fact he paid more last year for it

So he's bought a house and now wants to move in the space of a year? What did he do to the house in that time?

 

[Strike]

Might be more of a chance of me living there. Though still unsure if I would live in Brighton if it was affordable