Is Sheffield property market moving again?

[Phylis 10]

PS when did you get your property valued because you said the same thing 2 1/2 months ago and I seem to remember you saying it before as well, maybe more than once? Do you get it done every couple of months or something?

.

 

We have had it valued twice this year, both times when we have considered selling to move elsewhere in the country. (Shorter drive to the boat) Weighing up the extra petrol to drive to work and the boat over extra costs of moving is proving difficult.

[Phylis 10]

 

I'm pretty impartial, you both seem to have a huge vested interest in prices rising QUOTE]

 

Why would that be. Other than we own homes like thousands of others.

[numbercrunch 10]

[quote Why would that be. Other than we own homes like thousands of others.

 

errrr.......because you work in the construction industry maybe?

 

although you seem to have more and more time on your hands to email these days......

[Phylis 10]

[quote Why would that be. Other than we own homes like thousands of others.

 

errrr.......because you work in the construction industry maybe?

 

although you seem to have more and more time on your hands to email these days......

 

Very little of our work is residential. The construction industry is bigger than that.

[Cyclone 10]

right so your point is ......... even though the figures are up things are getting worse?

 

 

 

 

 

madness.

 

Up depends on when you compare it to.

The worst month on record (the month before) yes, they're up.

A year ago, no they're dreadful.

 

Not madness, statistics.

[Cyclone 10]

 

I'm pretty impartial, you both seem to have a huge vested interest in prices rising

 

Why would that be. Other than we own homes like thousands of others.

 

I'm not sure, but it could be that you're likely in negative equity and were clearly hoping for house prices to continue rising in order to finance your boat (you considered re mortgaging to buy it, right?).

Negative equity, or even just parity probably ties you to your location, or at least makes your dream of deflating the boat debt unlikely.

 

I'm guessing mind, I don't know why you've been talking up the market for 2 years now, but you have, the proof is in your posts where you continually denied that prices were falling even as they did.

[Dimitri 11 10]

I definatly remember you saying "figures are down" and they were ..... but Sheffield was experiancing the biggest jump for months.

 

My mistake, I thought you were saying that I was misquoting the LR figures. What you actually meant was I was using figures that didn't agree with your 'real time' view. We'll just have to agree to disagree on which method is best:roll:

 

I'm sure you don't disagree that the LR is largely accurate, your only gripe is that it lags. So as you are 'real time' you should be able to give a good estimate on what the % fall/rise will be next month and what the % fall from peak will be at the end of the year, in 6 months and then in 12 months (unless you think prices will be positive again). Prices are currently 17% from peak in Sheff.....let's hear your predictions then?

 

Lies, damm lies and statistics, have you moved yet?

 

No not yet. My plan is to wait until the bull trap has officially ended, leave sellers to stew in the knowledge that there isn't going to be any house price recovery (for many years anyway) and then pounce. I'm going to be nice too and be willing to pay -40% from peak, which won't be a bad deal for the lucky seller as I will be looking towards the bottom end of the market.

[Phylis 10]

I'm not sure, but it could be that you're likely in negative equity and were clearly hoping for house prices to continue rising in order to finance your boat (you considered re mortgaging to buy it, right?).

Negative equity, or even just parity probably ties you to your location, or at least makes your dream of deflating the boat debt unlikely.

 

I'm guessing mind, I don't know why you've been talking up the market for 2 years now, but you have, the proof is in your posts where you continually denied that prices were falling even as they did.

 

The boat loan and the house loan have been kept completely seperate ensuring we have enough equity in our home to allow us to move on should we wish. However house prices in our prefered area to live, where the boat is moored are substantially higher than in Sheffield plus there would be the added petrol costs and travelling time. Its all about weighing up our options. And the boat debt is "deflating" quite nicely thanks to a huge decrease in the FHBR.

[Phylis 10]

No not yet. My plan is to wait until the bull trap has officially ended, leave sellers to stew in the knowledge that there isn't going to be any house price recovery (for many years anyway) and then pounce. I'm going to be nice too and be willing to pay -40% from peak, which won't be a bad deal for the lucky seller as I will be looking towards the bottom end of the market.

 

We wont hold our breath then.

[Dimitri 11 10]

We wont hold our breath then.

 

That's the problem with going round Foxhill, looking for sold signs........you're missing out on the bigger picture. What can you see happening after the next election? Tax rises, spending cuts, unemployment topping 4million (end of 2010 at the latest), fear and panic amongst the people (due to them realising there is no recovery in sight) - these aren't factors that are going to enable a booming housing market, or even a stagnant one for that matter.

 

The housing market might limp to next summer if interest rates are held but that's probably it, reality will hit home after then. The govt. could come up with a crazy scheme to pump money into the housing market but they will do just what they are doing now - delay the inevitable. It's when, not if the market starts to crash again so it's still patience time at the moment.

 

My prediction for the housing market in Sheffield is:

 

at least -20% by the election (May-June time)

-30% by the end of 2010

-52% by the end of the crash (52 because if it is that figure I will look like a genius despite it just being a random figure from between 45-60:))

 

Around February time I said -30% by the end of 2009 but then the bull trap came and scuppered my hopes............for the timebeing

 

What are your predictions?

[Phylis 10]

That's the problem with going round Foxhill, looking for sold signs........you're missing out on the bigger picture. What can you see happening after the next election? Tax rises, spending cuts, unemployment topping 4million (end of 2010 at the latest), fear and panic amongst the people (due to them realising there is no recovery in sight) - these aren't factors that are going to enable a booming housing market, or even a stagnant one for that matter.

 

The housing market might limp to next summer if interest rates are held but that's probably it, reality will hit home after then. The govt. could come up with a crazy scheme to pump money into the housing market but they will do just what they are doing now - delay the inevitable. It's when, not if the market starts to crash again so it's still patience time at the moment.

 

My prediction for the housing market in Sheffield is:

 

at least -20% by the election (May-June time)

-30% by the end of 2010

-52% by the end of the crash (52 because if it is that figure I will look like a genius despite it just being a random figure from between 45-60:))

 

Around February time I said -30% by the end of 2009 but then the bull trap came and scuppered my hopes............for the timebeing

 

What are your predictions?

 

I dont just look around Foxhill for sold signs. Oddly enough i spend very little time in Foxhill, having a full time job on the other side of Sheffield, a boat elsewhere in the country and family and friends scattered around the country means i can base my predictions on what is really happening among a wide range of markets.

 

My predictions for the market. I think we will have a period of small gains (maybe until May/June of next year) followed by a period of uncertainy following a government reshuffle. During this period i fully expect there to be some minor price falls but nothing like the 30% you predict.

 

The real test will be when the BOE starts to raise the interest rates but i dont expect this to come until well into the second half of next year

[Akrasia 10]

Just to be clear, the percentages given here are percentages of peak prices, right?