House Prices

[lukey121]

Are house prices falling? Has the market finally peaked?

[Peahead66]

Crash bang pretty soon I recon.  I posted a similar question in the News section (?) but up to now nobody has answered but check out this site if you havent already http://www.housepricecrash.co.uk/

[Loosehead]

Well I'm hearing lots of stories about houses taking months to sell so I think buyers are waiting for a crash. Sellers are having to reduce prices to sell so that could well trigger a major correction.

[chazza]

Depends where you live.  Certainly not happening where I live

[twiglet4frog]

lincolnshire is dropping approx �500 a week give or take. Was �150k for a 3 bed bungalow here november and now selling at �130ish now. With people in so much debt lately there just isnt the cash available to go out and buy your first house like their used to be, so no one is getting on the first rung of the ladder which then has a knock on effect because those with the houses considered the first rung have houses that have gone up by �80k in 5 years in price and want to sell to get a bigger house and cant cos no-one can buy them, therefore the bigger more expensive houses are suffering to acquire the second time buyers!

Once we get the 2 bed homes back into the price range of the first time buyers we will be getting the housing market moving again, BUT there is another problem highlighted recently in the news and that is that a lot of first time buyers have too high a standards when buying a house. 26% interviewed viewing homes to make a purchase wouldnt consider a house without ensuite to the master bedroom, 18% expected a jacuzzie bath, 40% expect nothing less than a modern fully fitted kitchen! With all these expectations they are pricing themselves out of their own market and therefore not buying, and when they are they are buying, doind so  well out of their means!!