headmelter

Asking prices remain high but sales of anything half decent where I'm looking are going sale agreed pretty quick. Inventory is also low & very little new coming on. People clinging to their current rate which was probably fixed before rates started to rise. We're headed towards the emergence of negative equity... That's when the correction will begin imo.

Ag Brits selling regularly on Ebay for £27+ & £2.50+ postage https://www.ebay.co.uk/itm/256052336563?hash=item3b9de897b3:g:RskAAOSwautkQuVu&amdata=enc%3AAQAIAAAA8HwrqpQqkW4w3SwIR7cLMEMTZv2KXSBhkV7z1ca%2F5m7nE8qPRPmttZwlijkeB7Hkf4NETC1sRrN9S6dnLxfeGhy2YbXsQSniYv7qi7U3x0pYlOYuzdBJMq%2F4PMAzO3Q3ClY6WTPcFsEn%2FZLh7%2F%2F%2FphiYRne3zZB2IoswshyEwolNECslMt5FmhTk3FQQE2FBIIGiteMl0U%2BevWdtS0ElYH6bsDvD7f9cG6x3MobuzveZSd2RJOJHlz5hz904f%2BxSmfrw6u3FTwKxm4RUuosDkn5Npourxq%2F0Xu%2FxKmiG7Y5KM1ZOoqAEn%2BdKl29knbNYaA%3D%3D|tkp%3ABk9SR67Kq-H5YQ

The predicted pullback...

Asking prices actually seem to be going up in the area I'm looking at... Let's see what the summer brings..

Very low numbers of new instructions in the area I've been looking at... Remaining properties have been on for some time & would appear to be overpriced. It's looking like falls won't begin until previously fixed low IRs come to an end & there's no sign of any cuts on the horizon...

Nice.... but I hope we get to $2.7k before 2027...

https://www.bbc.co.uk/news/uk-northern-ireland-64647565 Baby steps... But the direction is indicative... looking like a prices slow puncture...

Starting to see sold & sale agreed properties returning to the market 'for sale' in Mid Ulster.... It's feeling just like early 2008... Gentle price drops should start after Easter towards the summer imo.

@azogarwould have a pretty good & well informed opinion on this... If he calls in...

There's a lag on prices that have been realised & the difference in the asking price. Looking back at 2007 asking prices remained sticky until the 2nd quarter of 2008 & that was when asking prices started to correct but it was a full 18-24 months before vendors tuned into the market reality & started to ask for valuations that might have actually achieved a sale.... I see no difference this time around. #Justmyopinion

Reality of new IR's & implications of raging inflation by January... Easter will bring an even newer reality when it becomes evident IR's are unlikely to revert to 'historic lows' which mortgage holders had become so accustomed to over the last 14 years... Best possible scenario is 10-15% drops followed by a 5-7 year period of stagnation in the housing market... the south of England has the potential to do considerably worse... All imho.

Prices remain sticky & a few that went sale agreed have appeared back on the market in my target area... I reckon reality will bite around Easter 2023...

It should be going to a General Election.

I don't know of any reputable coin dealers that accept credit card payments... I don't play the paper game & know nothing about buying in the paper market... I'm not sure about 'allocated' accounts either but there's a few posters here that probably do.

There's quite a few on 5yr fixed rates as well so the correction/crash could well be in 2 parts... That's if those on 5yr fixes ignore the opportunity to get ahead of the curve but many could well be drowning in negative equity by then.