UK PROPERTY MARKET BUST OR STALLED???

Discussion in 'UK Property' started by Golfingworld, Nov 16, 2007.

  1. colin.land

    colin.land New Member

    I've also seen friends go bust!
     
  2. Sanjay

    Sanjay New Member

    Agree with "Property Developer" - we have just completed around 5 deals (purchases) in the last few weeks. This is on the back of "would be" landlords getting in on the market on the notion that they will become millionaires overnight and are thus mativated by greed rather than operating a model which makes the decisions (take out the emotion), finding that they have got it wrong and bailing out at what are "forced sale" prices. I have been in the industry for 20 years and can not see a stronger buying opertunity. Has not been like this since the early 1990s - "Fill yer boots"!!
     
  3. Fizzypopp

    Fizzypopp New Member

    Current state

    Despite what the media states the market is pivotal. If the UK or anywhere in Europe thinks it will get away with no affect it is probably wrong. The credit crisis - which is now self - fullfilling is getting worse. Many in the North American sphere predicted it would over 2008 and into 2009. The UK and Gordan Brown' army of supporters still think he can pull it out of the hat. The only option he has is to pull more debt out of the bag and push the UK into a more difficult position later on. Without 125% mortgages and with a lowering profit margin due to increased costs there is only one option that makes sense. A complete slowdown. History says this is impossible. A crash is more likely. Why. Not just because of the basics that there is not enough money to be had without borrowing it - but also we now see -- right up to the corporates and realisation that something is going to give. The UK government on one had say it will be OK -- not to worry, while they are pulling the plug on projects left and right because even they cannot raise the capital to proceed. That is due to the lack of confidence in the markets to proceed and stabilse.

    If it is best to buy in the middle of this coming crash it is not yet there. It took years to fully entrench in all previous crashes - why does the media think that it will happen in a couple of months and then turnaround.

    It just escapes me at the moment.
     
  4. Lsab

    Lsab New Member

    ***rather than operating a model which makes the decisions (take out the emotion)***

    Hi Sanjay - new to all this. What do you mean by the above?
     
  5. Sanjay

    Sanjay New Member

    Hi Isab,
    Property investment is a business and needs to be treated as one. I use a model (which I created and is based on my criteria for returns etc.) - plug in the numbers and the model will tell me whether the project should proceed or not.

    Hope that this makes sense
     
  6. Lsab

    Lsab New Member

    It does Sanjay, thank you.
     
  7. Figaro

    Figaro Guest

    As an investor I'm rubbing my hands together with this crash. BUY BUY BUY!! i got some great deals from a company called Fourth Development - Exclusive Discounted Property Specialists.
     
  8. Sanjay

    Sanjay New Member

    Don't say I told you so!! - Go for it mate
     
  9. fredricked

    fredricked New Member

    when it comes all about the need for buy and sell your home & property in UK, then UK property market is all set to deliver you high standards. but this year this is sure that the market has taken a long dive and everyone just keeps assuming about the next day...
     
  10. luv2xlr8

    luv2xlr8 New Member

    Well im quiet new at this and analyzng most of the info, quiet good knowledge though and diverse opinions.

    Im actually selling a property and to be rational the delay isnt because of a market crash its probably because of all the the houses being sold in that area? Its quiet obvious profit has reached its peak and everyone wants to sell but who wants to buy if theres the assumption of the market taking a dive? does this make any sense ?

    Im for "Stalled".
     
  11. deedee1

    deedee1 New Member

    :)Hi all,

    The reason that you cant sell is pre-crash nerves!!

    As what happens now is that many can no longer afford their lifestyle and cannot borrow further which causes people to sell and try to downsize to save money!!

    More repossessions occur hence more property on the market!!

    Some people are selling to pull out as much equity as possible now before a slump occurs!!!

    And many more reasons and that is why in times like these people more often than not may struggle to sell and will not sell quickly as the ammount of sellers in comparison to buyers at times like these will be MUCH HIGHER!!
     
  12. mkellerman

    mkellerman New Member

    What are people's opinions on the property market in Scotland? I plan to sell my flat in the centre of Glasgow. It looks like prices are steady there.
     
  13. sqftmag

    sqftmag <B>Moderator</B> & Senior Member

    No indeed they aren't. But specialist lenders are! If you suffer from a poor credit history that's another story. Seasoned investors are having little trouble.

    So the moral is, use a specialist!!
     
  14. mitico67

    mitico67 New Member

    I'm on the contrary buying a flat in London. It was marketed at £300k in July 2007 it's now down at £270K and I've made an offer for £249500 that's been accepted. In the same building another flat has sold for £340k in March 2008 and there are still on the market another 2 at £330-350K with a similar layout. It's much more difficult to get a good mortgage now so if you hope for top money the marketing and the presentation of the property needs to be spot on. as you said there are more properties for sale for than buyers. Less than perfect area and looked after property are definetely diving.
     
  15. sha-sl

    sha-sl New Member

    As of now the markets were not good due to increase in all prices like crude oil , food products prices etc and even due to loss of the companies hwich let most of the employess toi loose there jobs. As of now it's not good to invest in property sector wait and watch for few months then you could know.
     
  16. BizPropMan

    BizPropMan New Member

    I believe that the UK market will struggle to crash.
    Your lending rate is very low and the fluctuation in the lending rate is at a minimum.
     
  17. punitalemon

    punitalemon New Member

    Office Space Soho

    It has to be BUST! Prices have gone poor condition, economy goes in deadlock, these are facts
     
  18. shari1234

    shari1234 New Member

    I would say its stalled due to the reason of low interest rate. But that's really benefiting the Banks.
     
  19. PatrickF

    PatrickF New Member

    Difficulties getting mortgages are a big obstacle - the Emergency Budget didn't help either
     
  20. Gedi93

    Gedi93 New Member

    Hi all,

    I wanted to find out what is the best place to advertise new developments for selling purposes? Also, what would be the best way to sell existing property?

    Regards,
    Gedi
     
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