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Is Sheffield property market moving again?

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The 1st signs that the housing market recovery may be coming to an end. Not exactly confirmation but it's a start so let's hope more good news filters through in the coming weeks and months.

 

http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=493726&in_page_id=57

 

http://www.guardian.co.uk/money/2009/nov/13/house-price-fall-double-dip

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What you choose to beleive is up to you.

 

But selling is all about supply and demand and when demand is high, prices will increase.

 

A couple of small anecdotals from today that may or may not prove to be meaningful. 8 properties were listed for sale today in the for sale section of this forum, which is the most that has been advertised on a daily basis for many months. Also the number of properties for sale in S10 (in the 0-140,000 bracket) increased from about 78-79 to 83 in one day. More properties on the market does not bode well for prices, particularly in the winter months when buying activity is traditionally subdued.

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mine sold in 2 weeks

 

You cant live in the real world, things like this dont happen anymore:roll:

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A couple of small anecdotals from today that may or may not prove to be meaningful. 8 properties were listed for sale today in the for sale section of this forum, which is the most that has been advertised on a daily basis for many months. Also the number of properties for sale in S10 (in the 0-140,000 bracket) increased from about 78-79 to 83 in one day. More properties on the market does not bode well for prices, particularly in the winter months when buying activity is traditionally subdued.

People are now encouraged to get their properties on the market as the market desperately needs more houses that are For Sale.There are many people renting who want to stop paying dead money to landlords but cant find the house that they want .If you are selling then there is a good chance you will sell if the price is right as there are buyers waiting.

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People are now encouraged to get their properties on the market as the market desperately needs more houses that are For Sale.There are many people renting who want to stop paying dead money to landlords but cant find the house that they want .If you are selling then there is a good chance you will sell if the price is right as there are buyers waiting.

 

It doesn't really matter why somebody puts their house up for sale, it is the effect that this has that is important. More houses for sale is likely to put downward pressure on house prices particularly at this time of year, do you not agree?

 

Rightmove have reported that asking prices are down -1.6% in November and this follows Findaproperty also releasing figures showing asking prices are down in November. Hardly confirmation that the housing market recovery is over and they are only asking prices, but it's a start.

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It doesn't really matter why somebody puts their house up for sale, it is the effect that this has that is important. More houses for sale is likely to put downward pressure on house prices particularly at this time of year, do you not agree?

 

Rightmove have reported that asking prices are down -1.6% in November and this follows Findaproperty also releasing figures showing asking prices are down in November. Hardly confirmation that the housing market recovery is over and they are only asking prices, but it's a start.

But traditionally many people dont bother looking at houses in November. Dark nights, run up to Christmas etc..Many people now will wait until Spring before putting theirs on the market.

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People are now encouraged to get their properties on the market as the market desperately needs more houses that are For Sale.There are many people renting who want to stop paying dead money to landlords but cant find the house that they want .If you are selling then there is a good chance you will sell if the price is right as there are buyers waiting.
How many times do we need to explain that rent is not 'dead money'? Especially in a falling market. "Prices are never coming down again", "You can't lose money on a house", "Rent is dead money", "Get on the ladder quick before you can't anymore", etc, etc. That's the kind of pub-level talk that pushed the situation to where it got and, 100% predictably, blew.

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How many times do we need to explain that rent is not 'dead money'? Especially in a falling market. "Prices are never coming down again", "You can't lose money on a house", "Rent is dead money", "Get on the ladder quick before you can't anymore", etc, etc. That's the kind of pub-level talk that pushed the situation to where it got and, 100% predictably, blew.

 

But thats how it has always worked.

 

The OH's father bought his first house many moons ago for £500 (yes £500), his mother thought he had paid far too much and assumed he would lose a lot of money. How wrong she was. The same house recently sold for £225k.

Nothing changes, just the value of the pound and what your money does or doesnt buy.

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But thats how it has always worked.

<anecdote>

Nothing changes, just the value of the pound and what your money does or doesnt buy.

Of course, but the argument rests on your 'many moons ago' qualifier: you are no doubt factoring a term of ownership in multiple decades, in which the effect of transient market cycles has been averaged out.

 

My point is that an optimal choice between renting and buying is much more opportunistic these days, because price variations (in terms of average) are much more amplified over much shorter periods.

 

We've been renting for about 5 years, and earned more through interests and investments, than if we'd bought again as soon as we sold in 2004 and had to sell right now).

 

We bought our first house (in the UK, I'd owned properties overseas well before that) at around £65k in 2000, sold it for well over double that in 2004. It was recently on the market again (early 2009), for about the same price we sold it for. +100% in 4 years, +0% in the next 5 years. Had it been on the market in 2007 or early 2008 instead, then I expect it would have been +something% relative to the 2004 price.

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But thats how it has always worked.

 

The OH's father bought his first house many moons ago for £500 (yes £500), his mother thought he had paid far too much and assumed he would lose a lot of money. How wrong she was. The same house recently sold for £225k.

Nothing changes, just the value of the pound and what your money does or doesnt buy.

 

How does this prove either that a) rent is dead money, or that b) house prices will always rise?

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But traditionally many people dont bother looking at houses in November. Dark nights, run up to Christmas etc..Many people now will wait until Spring before putting theirs on the market.

 

But this is a complete contradiction of what you said just yesterday:

 

People are now encouraged to get their properties on the market as the market desperately needs more houses that are For Sale.There are many people renting who want to stop paying dead money to landlords but cant find the house that they want .If you are selling then there is a good chance you will sell if the price is right as there are buyers waiting.

 

Yesterday's statement claims people are putting there homes up for sale and there are plenty of buyers waiting, and today's statement claims people aren't interested in buying or selling at the moment. It can't be both.

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