All I can do is think of all those poor landlords.
Alternative headline.
Houses are still 5% more expensive than they were a year ago.
Can we stop the BS threat of falling house prices. There isn’t enough houses so demand is still very high, plus big business are now buying up property as investment. If prices do fall than means people just won’t sell, meaning more demand. “Biggest drop” but still an increase year on year ……
This does not matter one bit because interest rates are still going up on mortgages and are predicted to continue rising until the end of 2023.
There wont be a crash as long as housing demand outstrips supply.
Good. I’m actually starting to see it around by me, the amount of for sale signs popping up on my estate is getting comical. On one road I counted 7 alone and they’re all exactly the same houses so it won’t take long before they start undercutting each other. Supply is definitely starting to outstrip demand.
I’m so glad I’m on a fixed rate mortgage, I bought at a bad time (end of 2020). I mean, I bought the house to live in, not as some financial investment or anything, but still it’s gonna suck when I come off the fixed rate and try to find a new fix deal -_-
Completed on our house in August, after saving up for a few years and being very lucky in the job market, as a couple of first time buyers under the age of 30. Could sense market was going to give way, but was concerned rates would increase costs regardless (though we’d be fine with a higher repayment, up to 9%, it’d suck for disposable income). But, I was sensible enough to get a 3%, 5 year fix, so I think we’ll be fine in the end.
House prices went up about 10% since January in my area. Going down 2 is no big deal at all.
The main issue is landlords selling up to big firms and if the prices continue to drop builders will stop building.
Then we have a perfect storm of having supply and demand being held in big investment firm hands
Mortgage rates are also at their highest since 2008, meaning normal people won’t be able to afford to buy houses. The only people really benefiting are the big firms who can afford to buy houses in cash so they can rent them out.
What is the best way to track house prices in my area? I’m looking to buy in 12-24 months and would like to have a better sense of when it’s a good time to purchase.
Happy for my brother who is attempting to get on the ladder.
Damn. Now if only i had a job with which to to buy a house to begin with
Not really good for anybody
Own a house – potential negative equity
Don’t own a house – rates are still eye wateringly high and unaffordable for most
Just proves it was cheap money that made the property market boom. Money was cheap because of Quantitative Easing. Printing money caused inflation. Now people can’t afford a/their mortgage and things are ruinously expensive. Thank the Bank of England the Conservative party. The UK is ruled by a small number of ex-public school boy, Oxbridge men and is not a democracy. Now we see the results. Conservative middle class home owners will squeal the loudest. Poor people have no energy left to scream and, if they did, no one would notice – especially not the new, middle class Labour party.
I was watching Location, Location, Location the other day. A young couple in Manchester found a house for 450k, the problem was they had been allowed an early viewing and 28 more potential buyers were due to view the house the following Saturday. In order to buy the house, they offered 500k! This is ridiculous! If I was their lender I would just refuse the loan!
I’ve got estate agents in Cardiff chasing me now, as opposed to me begging them for viewings earlier this year.
We stopped looking for a different reason unrelated to finances, but the reason I tell them when they ring is house prices are still too high with current mortgage rates.
Hoping that feedback makes them realise they shouldn’t be pushing for ‘best possible offer’ and push people to keep bidding up prices.
Not dropped enough, they’re still higher than last year
Still can’t fucking buy one though so pretty useless
If it keeps falling at this m/m pace, house prices would be down -24% y/y by next October!
Biggest drop and we’re not even back to precovid prices
House next to me was on for 6 months and they did have to drop the price it seems by 25% to get a sale but it was over priced for last six months. They will only make it seems about 45% on having it for two 1/2 years.
It’s still an insane cost to buy a house. If I want a house, I need to find a woman to marry first.
With the annual London cost being 553000 pounds, it’s still insane, even for a middle class couple
Good can they keep falling to 2000 prices or better yet 1992 that would be lovely completely unreaslistic but would be nice.
Literally finalised our sale… last week? Christ the timing is impeccable.
That 5% deposit shout is just stupid, where’s the small print saying “as long as you can get a mortgage for the rest of the value based on 4.5x your salary!” If it was just 5% deposit needed I would be able to afford a hell of a sweet house with my savings.
Price drop yes sure, that’s why they charge you a house price for a room in London wtf
>UK house prices show biggest drop since 2008
So why is rent going up again‽
These are the figure from approx 3 months ago. Before the mini ~~catastrophe~~ budget. The next two months will be worse, people stop buying in a lowering market. There’s no cheap money around either. Don’t believe the vested interest narrative ‘demand’ nonsense and wait.
Houses are cheaper but your mortgage rates are higher so essentially you’re paying more for less, unless you can just buy a property outright that is. This doesn’t really benefit anyone apart from the banks and developers/landlords.
Tax 100% of profit from renting, greedy people will stop buying.
Oh no those poor house flippers.. how can they make more money?
this will lead to more corporitization of rental market as some are clamouring for, which means by the stroke of a pen multiple families can become homeless overnight.
32 comments
All I can do is think of all those poor landlords.
Alternative headline.
Houses are still 5% more expensive than they were a year ago.
Can we stop the BS threat of falling house prices. There isn’t enough houses so demand is still very high, plus big business are now buying up property as investment. If prices do fall than means people just won’t sell, meaning more demand. “Biggest drop” but still an increase year on year ……
This does not matter one bit because interest rates are still going up on mortgages and are predicted to continue rising until the end of 2023.
There wont be a crash as long as housing demand outstrips supply.
Good. I’m actually starting to see it around by me, the amount of for sale signs popping up on my estate is getting comical. On one road I counted 7 alone and they’re all exactly the same houses so it won’t take long before they start undercutting each other. Supply is definitely starting to outstrip demand.
I’m so glad I’m on a fixed rate mortgage, I bought at a bad time (end of 2020). I mean, I bought the house to live in, not as some financial investment or anything, but still it’s gonna suck when I come off the fixed rate and try to find a new fix deal -_-
Completed on our house in August, after saving up for a few years and being very lucky in the job market, as a couple of first time buyers under the age of 30. Could sense market was going to give way, but was concerned rates would increase costs regardless (though we’d be fine with a higher repayment, up to 9%, it’d suck for disposable income). But, I was sensible enough to get a 3%, 5 year fix, so I think we’ll be fine in the end.
House prices went up about 10% since January in my area. Going down 2 is no big deal at all.
The main issue is landlords selling up to big firms and if the prices continue to drop builders will stop building.
Then we have a perfect storm of having supply and demand being held in big investment firm hands
Mortgage rates are also at their highest since 2008, meaning normal people won’t be able to afford to buy houses. The only people really benefiting are the big firms who can afford to buy houses in cash so they can rent them out.
What is the best way to track house prices in my area? I’m looking to buy in 12-24 months and would like to have a better sense of when it’s a good time to purchase.
Happy for my brother who is attempting to get on the ladder.
Damn. Now if only i had a job with which to to buy a house to begin with
Not really good for anybody
Own a house – potential negative equity
Don’t own a house – rates are still eye wateringly high and unaffordable for most
Just proves it was cheap money that made the property market boom. Money was cheap because of Quantitative Easing. Printing money caused inflation. Now people can’t afford a/their mortgage and things are ruinously expensive. Thank the Bank of England the Conservative party. The UK is ruled by a small number of ex-public school boy, Oxbridge men and is not a democracy. Now we see the results. Conservative middle class home owners will squeal the loudest. Poor people have no energy left to scream and, if they did, no one would notice – especially not the new, middle class Labour party.
I was watching Location, Location, Location the other day. A young couple in Manchester found a house for 450k, the problem was they had been allowed an early viewing and 28 more potential buyers were due to view the house the following Saturday. In order to buy the house, they offered 500k! This is ridiculous! If I was their lender I would just refuse the loan!
I’ve got estate agents in Cardiff chasing me now, as opposed to me begging them for viewings earlier this year.
We stopped looking for a different reason unrelated to finances, but the reason I tell them when they ring is house prices are still too high with current mortgage rates.
Hoping that feedback makes them realise they shouldn’t be pushing for ‘best possible offer’ and push people to keep bidding up prices.
Not dropped enough, they’re still higher than last year
Still can’t fucking buy one though so pretty useless
If it keeps falling at this m/m pace, house prices would be down -24% y/y by next October!
Biggest drop and we’re not even back to precovid prices
House next to me was on for 6 months and they did have to drop the price it seems by 25% to get a sale but it was over priced for last six months. They will only make it seems about 45% on having it for two 1/2 years.
It’s still an insane cost to buy a house. If I want a house, I need to find a woman to marry first.
With the annual London cost being 553000 pounds, it’s still insane, even for a middle class couple
Good can they keep falling to 2000 prices or better yet 1992 that would be lovely completely unreaslistic but would be nice.
Literally finalised our sale… last week? Christ the timing is impeccable.
That 5% deposit shout is just stupid, where’s the small print saying “as long as you can get a mortgage for the rest of the value based on 4.5x your salary!” If it was just 5% deposit needed I would be able to afford a hell of a sweet house with my savings.
Price drop yes sure, that’s why they charge you a house price for a room in London wtf
>UK house prices show biggest drop since 2008
So why is rent going up again‽
These are the figure from approx 3 months ago. Before the mini ~~catastrophe~~ budget. The next two months will be worse, people stop buying in a lowering market. There’s no cheap money around either. Don’t believe the vested interest narrative ‘demand’ nonsense and wait.
Houses are cheaper but your mortgage rates are higher so essentially you’re paying more for less, unless you can just buy a property outright that is. This doesn’t really benefit anyone apart from the banks and developers/landlords.
Tax 100% of profit from renting, greedy people will stop buying.
Oh no those poor house flippers.. how can they make more money?
this will lead to more corporitization of rental market as some are clamouring for, which means by the stroke of a pen multiple families can become homeless overnight.