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The UK property market is at its weakest for six years, with prices flat or falling across half the country according to Britain’s official surveyors body, with reports that sales are “in limbo” until a Brexit deal emerges.
The Royal Institution of Chartered Surveyors (Rics) said its monthly survey of members found “the weakest reading since September 2012” in October, with prices falling in London, the south-east, south-west and East Anglia.
Surveyors expect prices to continue to fall in these parts of the country for the next three months, although they are forecasting they will remain flat nationally over the next 12 months.https://www.theguardian.com/business/201...-says-rics
I had coffee with a estate agent manager very experienced
and she said the market is worse now than the crash of 2007
personly I don’t see much property coming onto the market for it to be sold
I don’t see forced sales in my area
i just see stagnation
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
I see a couple of properties on my street for sale, but they're just too expensive by far!
If one of them dropped by £200k it would almost be 'reasonable', the other has been on for a long time with no reductions.
People are still holding out for top money, and while that is happening, properties won't sell.
I'm also noticing a LOT of loft conversions going on wherever I look, ie. that house is not being sold.
This isn't good for keeping the market moving. People used to trade up in the SE, but now stay and extend instead = more larger houses (eg. 2 to 4 beds now) and a step up the ladder being lost?
Another downvote by mark22, not even on my view but on a RICS survey, why not comment on what you disagree with in the survey rather than just keep downvoting?
My experience has been the opposite, but I only have the one property in Cornwall.
It was valued at £200k for probate, 4 years ago. I had it valued at £230k - £240k as an ex rental last month. It was listed at £250k and I accepted an offer of £245k within the first week from a cash buyer.
I appreciate that one example doesn't indicate a trend but I hope that this beginners luck continues.
If property prices are falling then this could be a good time to invest. Cheap properties turned into BTL.
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
As I'm new to the property World, I tend to stick to the North Of England where prices have been rising slowly compared to the furnace of London & The SE. Going to be interesting to see what happens when the current Brexit stalemate is over and we know where we are.
I spoke to my main letting agent this week. Prices are going up around here but there are very few properties available. He has only 2 for sale and 3 for let.
Zoopla - house prices are falling in Manchester over the last 3 months.
I did a search on right move, Houses, max £125k, M28 postcode - 22 search results, of those 22, 12 had been reduced in price.
Ranjan Bhattacharya, Property Entrepreneur:‘Why we I am exiting the private rented sector and what we are doing next…’
The Baker Street Property Meet (Monthly networking event)
Wed, 28th November 2018, 6pm to 10pm
Holiday Inn, Carburton Street, London W1W 5EE (Tube Gt Portland St)
Ranjan Bhattacharya, Richard Bowser, Sara Nasralla, Jay Howard & Cyril Thomas
Anyone going to Baker Street property meeting? It would be interesting to learn why Ranjan is exiting the rental market.