Tiscali Community Discussion

I have had my purpose built, completely renovated 2 bedroom flat on the market for 3 years. I have had no views for 18 months - I've listened to the agents valuations, and have never gone above those figures - in fact, it's now below valuation and has been for some time. I've been with every estate agent locally, and took the property off the market for a few months so it didn't become boring to everyone. (including me!)So what's going wrong if I should have sold it within 6 months?!!

You dont know how hard it is for us estate agents, we not only make good money when we sell your house we also make a killing when we sell you a mortgage and persuade you to buy an insurance policy which we also make money on. All this income is now harder to come by, I have had to sell my porch and buy a modest BMW, I will soon have to sell my holiday home in Spain just to pay for my cook and cleaner in my 6 bedroom modest home in a mere 5 acres of garden, I also have my gardener to pay, I dont want to lay my domestic staff off, so I will have to put my commission charges up just to have a modest life style.

I feel that people like henry have no idea what they are talking about, people have put all their money into their property and will not allow the market to fall, scare mongerers like you henry should not be allowedto make these stupid statements, only today I have read and heard on the news that property prices in my area have risen by 1% more than they have in other areas so don't talk such drivell

Church Mouse has it both right and wrong in my view - I agree that job insecurity has an impact on the market though interest rates are in fact falling. In truth, there will always be areas that suffer more than others. For example, areas insulated by shops and services will remain buoyant whilst those stuck in social wilderness areas (i.e. otherwise 'nice' areas hemmed in by sink estates) will suffer most. In short, money will follow money and those that suffer most will be those with a tenuous hold on the property ladder. Of course it isn't fair, but it is an economic fact.

I've got a feeling the market might wobble and fall this spring as some buy-to-let landlords get the fear and sellers struggle to find buyers... but after that i reckon the market will steady and then upturn going into the autumn - interest rates look like they'll be coming down and could be at as much as three quarters of a percent lower by then, with commensurate attractive deals on the market, there will be plenty of people out there who have deposits saved and are waiting to pounce who'll accept perhaps paying 10% less than they would a year earlier. so there you go, that's my prediction - average selling prices dropping by roughly 10% then the market to stabilise, but perhaps stay steady for a good year or so, depending on wider economic issues.