UK PROPERTY MARKET BUST OR STALLED???

[deedee1]

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!!

[mkellerman]

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.

[sqftmag]

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!!

[mitico67]

Originally Posted by luv2xlr8

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".

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.

[sha-sl]

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.