anyone else noticing house prices dropping ?

15 comments

  2. Market is gonna tank…. But it’ll be investment fund contagion rather than the 2007 crash(which was mortgage led)

  4. Having just drawn down at probably market peak, you love to see it. Our mortgage is still affordable and I’ve friends struggling to get something so just crossing my fingers everything else doesn’t go tits up alongside it if this is a trend.

    Fairly thankful we got a relatively handy interest rate locked in as well as that’s only going to go one way.

  6. Having recently bought, I’m appalled at this turn of events and demand that everyone else in the country demolish their own houses immediately in order to keep the value of mine as high as possible!

    Seriously, though, prices dropping a bit would be a good thing, though it’s probably more to do with the rising cost of living, rising interest rates, and lenders tightening standards affecting demand than more supply being added, which might not help folks who are struggling to buy at the moment, unfortunately.

  7. Christmas slowdown around the corner encouraging sellers to make a quick sale in anticipation of a price drop & recession next year.

  8. As a bastard landlord, I can see the prices come down slightly, if you buy in bulk, bought 4 today.. bit pricey but I’ll get my money back in 10 years.

  11. I’ve noticed a lot of houses go sale agreed and then come back on the market two months later with 30k off. (425k -> 395k).

    I’ve also seen house prices fall as houses continue to sit on daft with no buyers. Taken down at 375k and re-uploaded at 350k.

    I’m mostly looking at established areas with older houses that do need a bit of work.

    I’m not entirely sure what’s happening, as there was a lot of purchases during the first six months of the year. From what I can tell it seems like houses were flying off of daft for 10%+ over asking (350k -> 390k), and a month later builders outside on scaffolding installing new windows and outdoor insulation. Now houses on the same road, of similar quality, at the same asking prices are sitting dormant.

    My suspicion is that private investment companies that were buying these to retrofit and rent / flip are now getting cold feet and are much more reluctant to buy, leaving sellers expecting similar sale prices as what was happening in the first half of the year wanting more.

    It could be a genuine slowdown, it could be the seasonal pattern of house sales, it could be a lot of things. It’s all speculation at this point, but I’ve definitely witnessed some odd behavior over the last few months. (Been actively observing daft everyday for a good 2+ years now).

  12. Yes, which is why I got mine revalued now for the bat LTV to possible! Even if you’re staying on a variable rate or whatever I’d suggest it ha.

  13. Yeah there are fewer buyers – US reported a large 12pc decline over the month – and some funds have become a bit too heavy in property and are looking to rebalance.

  15. My rudimentary read is that mortgages are harder to get and a lot of variable rates are adjusting now . The era of funny money is ” kind of ” over . Basically not just more supply but slowing demand.

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