House Prices

We have 2.47 million registered unemployed in the UK.

http://news.bbc.co.uk/1/hi/business/10341413.stm

We have a banking credit supply crisis, in that the banks cannot find enough money to lend.

http://news.bbc.co.uk/1/hi/uk_politics/7934975.stm

Mortgage take up are at lowly levels, worst for several months. As the government tightens the spending to redress the reckless over spending of our previous government prices will fall further because unemployment will increase.

Yet still we have this nonsense that people believe they can ask much higher prices for houses than they’re likely to achieve in a sale. So my advice to a seller reduce your price now to catch one of the few sellers.

Be ready for another drop in house prices, there is not sufficient demand to support the present prices.

I’ve put my money where my mouth is and reduced the cost of my late Uncle’s bungalow by £15,000.
Interested to hear your opinions.

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