Experts are warning homeowners to get out of the property market before a massive crash wipes more than £100 million off the value of Sussex homes.

Anna B wrote:
This is complete rubbish. The FT reported that the website propertyfinder had four times more people looking at Brighton than anywhere else. Brighton prices are bucking the trend but who will believe that with all this negative reporting? Loads of people are moving out of London to live here - easy commute and better value for money, that's why I did it. Come on Argus, support your readers by reporting the truth!

One Mid Sussex estate agent said: "It's not as good as it used to be but it is still a good market. Most of the problem is that the papers keep going on about it and making people nervous."

brambo wrote:
Good. Now people who earn a normal wage can get on the ladder and all those toffs from London and scumbag landlords who buy to let can **** off.

David wrote:
brambo I agree.. People have a right to buy an average home and when you consider they need to fall back to 3.5 times earning, when currently its pipped at 7-9 times earning, prices will need to fall 35% to bring them back to 2002 levels. Heres my predictions: So 325 detached fall to 212k.. 294 detached fall to 192k 220k detached needs to fall to approx 150k 160k semi needs to fall to 105K 120k terraced house to fall to 80k

James wrote:
This is not scare mongering it is the truth. For the last 10 years idiots have been saying property is a good investment or can replace a pension. Property will sink at least 50% in the next 3 years.

JD wrote:
As I have seen many economists recently say - and not lenders, estate agents, mortgage brokers (advisers - sic!), there is no doubt at all prices nationally will fall 35% by 2012 or so and more in areas such as Brighton - as they went up more here. Accept it. Miles - brave and brilliant man. You will stop a few people at least from making the biggest financial error of their lives -and put off buying or not invest in property (invest, that\'s a laugh). By the way, I\'m a Chartered Financial Planner and I give investment advice to real people and we have advised to clear out since 2006. Over the cycle this will prove obvious, in retrospect. But the hype has been astonishing. \'Captain, you cannae change the laws of... economics.\'

Jiml wrote:
This article is financially illiterate. There are maybe half a million homes in Sussex, so a drop of £100 million is £200 each on average. Hardly a crash. A serious fall of 20% would knock about £50000 off the average price, which is over £20 *billion* for Sussex as a whole

Flat Foot Soozie wrote:
If all these experts are such experts, why didn't they announce this earlier? There should be a ban on those "look at me" suits worn by estate agents. You can see them as they get out of cars emblazoned with the firm's name and parked on yellow lines. There is nothing so uncool as trying to be cool. Western Road is full of them.

Roger Tilbury wrote:
House prices have never crashed. So-called experts have been predicting this since 2003 (and they never crawl out of the woodwork to tell us where they went wrong). Prices may stay the same of drift slightly lower but that is not a crash. Estate agents may go out of business because people are not selling but so what? They've been doing very well in the last ten years. Price don't crash simply because people will not sell if they are going to lose money or even make less profit than they expected. They will stay where they are and extend/loft convert if they need more room. Perhaps the Argus could leave this scaremongering, sensational nonsense to the Sport and the Sun (or are they trying to become that sort of paper?)

Roger Tilbury wrote:
House prices have never crashed. So-called experts have been predicting this since 2003 (and they never crawl out of the woodwork to tell us where they went wrong). Prices may stay the same of drift slightly lower but that is not a crash. Estate agents may go out of business because people are not selling but so what? They've been doing very well in the last ten years. Price don't crash simply because people will not sell if they are going to lose money or even make less profit than they expected. They will stay where they are and extend/loft convert if they need more room. Perhaps the Argus could leave this scaremongering, sensational nonsense to the Sport and the Sun (or are they trying to become that sort of paper?)

richboy wrote:
I sold up in london and I\'ve bought 10 flats in brighton 1 year ago. I\'m not really that bothered if prices plunge as I\'ll just buy some more flats as I\'m in it for the long haul.

Andy wrote:
I am sitting in the north of england reading the hysterical comments of both sides, weird how no one can be on both sides of the fence isn\'t it ? The truth is that expansion CANNOT be permanent. Home owners have used rising values to fund nice lifestyles for several years now and good luck to them. HOWEVER the creation of wealth from nothing (which is what house price inflation is ) must eventually be funded from somewhere... think about it. I will leave you with a consideration about \"expert opinion\" If you were to ask all of the financial gurus who now say that a property crash is impossible the following question what do you think their answer would have been ??.

\"It is the year 2000 do you think that property prices will treble in the next 5-6 years \".

If any answer yes then why aren\'t they properety billionaires ??

Roger Tilbury wrote:
House prices have never crashed. So-called experts have been predicting this since 2003 (and they never crawl out of the woodwork to tell us where they went wrong). Prices may stay the same of drift slightly lower but that is not a crash. Estate agents may go out of business because people are not selling but so what? They've been doing very well in the last ten years. Price don't crash simply because people will not sell if they are going to lose money or even make less profit than they expected. They will stay where they are and extend/loft convert if they need more room. Perhaps the Argus could leave this scaremongering, sensational nonsense to the Sport and the Sun (or are they trying to become that sort of paper?)

Matt ODonnell wrote:
Jay wrote: "...this governement should be encouraging buy to let to ease the housing crisis as we are doing their job." The only "housing crisis" we have is a lack of affordable houses to buy. Landlords buying up houses, then renting to them back to people (who would have been able to buy that house themselves if the landlord hadn't just out-bid him!) is not going to solve the problem. Luckily the market will sort itself out soon enough, and then young people will once again have the chance of buying their own home. Just a shame that the government stood back and let this housing bubble happen. They could have prevented it, or at least lessened it's effects.

dc wrote:
well this story does nothing to help the hundreds of estate agent businesses across sussex trying to stay afloat.
don't get me wrong, i am no fan of estate agents, but this scaremongering story is totally unjustified and wrong with no actual fact behind it.
This kind of talk helps no-one, yes things are bleak, but there are positives to come aswell.

I own an estate agency and he has not done his research. The market is reacting to market factors and the market has slowed, but not in freefall. We are still selling properties but they have dropped in price slightly. It is not just my business that suffers when headlines appear like this, it is the hairdresser in the street, the clothes shop in the laines, the taxi drivers etc, everyone is affected when pieces like this are written. Think of the brighton econony first not your own ego Mr Godfrey.

Phil wrote:
A 30% - 50% "correction" in Brighton would be most welcolme

joe Wheeler wrote:
This man Miles Godfrey is trying to make a name for himself and in turn his stupid headline can cause panic locally and nationally. I own an estate agency and he has not done his research. The market is reacting to market factors and the market has slowed, but not in freefall. We are still selling properties but they have dropped in price slightly. It is not just my business that suffers when headlines appear like this, it is the hairdresser in the street, the clothes shop in the laines, the taxi drivers etc, everyone is affected when pieces like this are written. Think of the brighton econony first not your own ego Mr Godfrey. This journalist needs to speak to people in the industry first and name his sources. He is going to get a lot of abuse for his comments and the story is about an agent going bust not the market. Stick to the facts

james wrote:
People also have a write to an investment brambo you idiot, especially as pensions are a joke..whats the matter..bitter cos you are still living with mumy and daddy..get over it!

joe Wheeler wrote:
This man Miles Godfrey is trying to make a name for himself and in turn his stupid headline can cause panic locally and nationally. I own an estate agency and he has not done his research. The market is reacting to market factors and the market has slowed, but not in freefall. We are still selling properties but they have dropped in price slightly. It is not just my business that suffers when headlines appear like this, it is the hairdresser in the street, the clothes shop in the laines, the taxi drivers etc, everyone is affected when pieces like this are written. Think of the brighton econony first not your own ego Mr Godfrey. This journalist needs to speak to people in the industry first and name his sources. He is going to get a lot of abuse for his comments and the story is about an agent going bust not the market. Stick to the facts

Binky wrote:
stupid scaremongering, most of us will be ok, just sitting tight. I bought my house for £199k its now worth £450k it would have to fall by a HUGE percentage for that to be wiped out, I can lose a bit and not worry. Poorly written piece

Binky wrote:
stupid scaremongering, most of us will be ok, just sitting tight. I bought my house for £199k its now worth £450k it would have to fall by a HUGE percentage for that to be wiped out, I can lose a bit and not worry. Poorly written piece

wrongmove wrote:
This is nothing more than a pathetic attempt by property agents to drum up some business.Prices are largely dictated by availability.

RAS Putin wrote:

wrongmove wrote: This is nothing more than a pathetic attempt by property agents to drum up some business.Prices are largely dictated by availability.

Yes- availability of mortgages .

wrongmove wrote:
This is nothing more than a pathetic attempt by property agents to drum up some business.Prices are largely dictated by availability.

Mark the Estate Agent wrote:
Whether you agree with the opinion (and it is purely opinion) of Miles or not, you have to admit that this article is woolley best. There is quite literally no reference to specific sources or any real sign of research any where within this article. It reads as though Miles has decided the story he wants to write then vaguely inserted quotes from anonymous sources. I mean it's not exactly a dispatches expose is it? He even seems to become a bit bored half way through and just rambles about the implications of a small estate agent closing for the remainder of the article. How much have the prices risen in the last decade Miles? How does that compare the the national average? Are there any historical market trends that indicate that the risk of a price crash is higher? To be honest I don't know what is going to happen.I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips. But as I said I don't know, and neither does Miles, But I have scrawled my ill founded opinion accross the Argus. Please make more of an effort next time. PS a note to all the very vocal haters of estate agents. I can't afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords. So back off PPS Loved the use of the word 'appear' twice in one sentance . Genius.

Mark the Estate Agent wrote:
Whether you agree with the opinion (and it is purely opinion) of Miles or not, you have to admit that this article is woolley best. There is quite literally no reference to specific sources or any real sign of research any where within this article. It reads as though Miles has decided the story he wants to write then vaguely inserted quotes from anonymous sources. I mean it's not exactly a dispatches expose is it? He even seems to become a bit bored half way through and just rambles about the implications of a small estate agent closing for the remainder of the article. How much have the prices risen in the last decade Miles? How does that compare the the national average? Are there any historical market trends that indicate that the risk of a price crash is higher? To be honest I don't know what is going to happen.I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips. But as I said I don't know, and neither does Miles, But I have scrawled my ill founded opinion accross the Argus. Please make more of an effort next time. PS a note to all the very vocal haters of estate agents. I can't afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords. So back off PPS Loved the use of the word 'appear' twice in one sentance . Genius.

John wrote:
I bought last year, i have just had my house put on the market and have only had 2 offers, both are 20% below what i paid. GO ON CONVINCE ME that this article is scaremongering! I am going down.

David wrote:
brambo I agree.. People have a right to buy an average home and when you consider they need to fall back to 3.5 times earning, when currently its pipped at 7-9 times earning, prices will need to fall 35% to bring them back to 2002 levels. Heres my predictions: So 325 detached fall to 212k.. 294 detached fall to 192k 220k detached needs to fall to approx 150k 160k semi needs to fall to 105K 120k terraced house to fall to 80k

I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips.

quote

I can't afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords

george wrote:

Jiml wrote:
This article is financially illiterate. There are maybe half a million homes in Sussex, so a drop of £100 million is £200 each on average. Hardly a crash. A serious fall of 20% would knock about £50000 off the average price, which is over £20 *billion* for Sussex as a whole

Hey Jim, that's cool,
So are you going to buy, buy buy right now then? hehe..... what agent was it you worked for by the way?!

Negative Equity wrote:
Why blame the estate agent, a house is only worth what somebody will pay for it. Simple Supply and Demand Economics. When people buy a property surely they check the market and what they can afford. All this talk about a crash will surely create one. It's all about confidence.

jamie wrote:

Mark the Estate Agent wrote: Whether you agree with the opinion (and it is purely opinion) of Miles or not, you have to admit that this article is woolley best. There is quite literally no reference to specific sources or any real sign of research any where within this article. It reads as though Miles has decided the story he wants to write then vaguely inserted quotes from anonymous sources. I mean it\'s not exactly a dispatches expose is it? He even seems to become a bit bored half way through and just rambles about the implications of a small estate agent closing for the remainder of the article. How much have the prices risen in the last decade Miles? How does that compare the the national average? Are there any historical market trends that indicate that the risk of a price crash is higher? To be honest I don\'t know what is going to happen.I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips. But as I said I don\'t know, and neither does Miles, But I have scrawled my ill founded opinion accross the Argus. Please make more of an effort next time. PS a note to all the very vocal haters of estate agents. I can\'t afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords. So back off PPS Loved the use of the word \'appear\' twice in one sentance . Genius.

Mark, you clearly are a \'head in the sand\' type, or the blight hasn\'t got down to you yet? The London buyers you talk of will dry up rapidly now if they haven\'t already and you should not see that as Brighton\'s cash-cow - it\'s ruined our area. I am an agent on the border of bucks and oxon and we are struggling. That\'s an understatement - we\'re dying. Buyers expect at least 10% off the asking price even if a property has already been reduced; and who can blame them really? And then even with that, some back out just before exchange because they feel insecure about what the market is doing and want an even better deal. I am actually sick of trying to talk this up and don\'t want to mislead buyers...for me this this just a job and I\'m not going to tell people untruths. You must know as an agent that this thing hasn\'t bottomed out yet and there are no bargains to be had. There will be; but that could be a year away, or even longer. Who knows? I note that you have very few properties on your books and most are of low value or sold - you must be worried. Hope it works out for you.

Harvey G wrote:
I sold almost 2 years ago after making a few quid. I'm now renting, and watching you all stick your heads in the sand. I'm waiting at least 2 more years to get back in. Should bag a tidy bargain eh?

MrT wrote:

I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips.

Oh dear you just cant help yourself can you, I suppose that just the honest EA in you, on one hand you say you dont know what will happen and then come out with the above jem of a quote. You keep holding out for those rich Londinium investors ( who would jump at the chance of investing in a depreciating asset and lose money.../rolls eyes), this reminds me of those Hya

quote

cinth Buckets that notice prices falling around them but then say "but my street/road/area is different/special.."

I can't afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords

And you dont see anything remotely wrong with not being able to buy at a fair price in your area for all your hard work at all?? Well at least you get nice cards from the indebted which is nice of them, I have to wonder what the content of those cards will be next year though.

Richard wrote:
Advice: don't be lured into investing too early into a falling housing market. History shows us that housing market crashes raley take place overnight. The Japanese and Germany housing market have been falling in real terms for over a decade. Waiting for the market to bottom and then buying will create the real winners. Spread the word it'll be quite a few years yet! PS Does anbody know how to bet on falling house prices?

Richard wrote:
Advice: don't be lured into investing too early into a falling housing market.

History shows us that housing market crashes raley take place overnight.

The Japanese and Germany housing market have been falling in real terms for over a decade.

Waiting for the market to bottom and then buying will create the real winners. Spread the word it'll be quite a few years yet!

PS Does anbody know how to bet on falling house prices?

James wrote:
This is not scare mongering it is the truth. For the last 10 years idiots have been saying property is a good investment or can replace a pension. Property will sink at least 50% in the next 3 years.

Mark the Letting Agent wrote:

jamie wrote:

Mark the Estate Agent wrote: Whether you agree with the opinion (and it is purely opinion) of Miles or not, you have to admit that this article is woolley best. There is quite literally no reference to specific sources or any real sign of research any where within this article. It reads as though Miles has decided the story he wants to write then vaguely inserted quotes from anonymous sources. I mean it\'s not exactly a dispatches expose is it? He even seems to become a bit bored half way through and just rambles about the implications of a small estate agent closing for the remainder of the article. How much have the prices risen in the last decade Miles? How does that compare the the national average? Are there any historical market trends that indicate that the risk of a price crash is higher? To be honest I don\'t know what is going to happen.I think things are adjusting downwards after an very prolonged rise, but Brighton does have a very steady flow of London buyers and wealthy investors which usually seems to, if anything, protect us slightly from the market dips. But as I said I don\'t know, and neither does Miles, But I have scrawled my ill founded opinion accross the Argus. Please make more of an effort next time. PS a note to all the very vocal haters of estate agents. I can\'t afford to buy, but I work hard and honestly and come Christmas there is always a pile of cards saying thank you, from buyers, sellers, tenant and landlords. So back off PPS Loved the use of the word \'appear\' twice in one sentance . Genius.

Mark, you clearly are a \'head in the sand\' type, or the blight hasn\'t got down to you yet? The London buyers you talk of will dry up rapidly now if they haven\'t already and you should not see that as Brighton\'s cash-cow - it\'s ruined our area. I am an agent on the border of bucks and oxon and we are struggling. That\'s an understatement - we\'re dying. Buyers expect at least 10% off the asking price even if a property has already been reduced; and who can blame them really? And then even with that, some back out just before exchange because they feel insecure about what the market is doing and want an even better deal. I am actually sick of trying to talk this up and don\'t want to mislead buyers...for me this this just a job and I\'m not going to tell people untruths. You must know as an agent that this thing hasn\'t bottomed out yet and there are no bargains to be had. There will be; but that could be a year away, or even longer. Who knows? I note that you have very few properties on your books and most are of low value or sold - you must be worried. Hope it works out for you.

Good points, sorry to hear things are so tough at the moment, we aren't feeling it so badly here, but as you say it may be coming. I don't refute there is a downturn in the market but I don't think you, I or Miles can reliably announce an imminent crash. Is there a possibility that perhaps there is still some serious adjusting for Vendors to do in terms of what they will accept? Owners are having a hard time accepting that what they consider a reduction isn't enough. there is a real differences between some of the prices achieved at the peak last year and what are achievable now, it's hard to swallow but buyers know it and Vendors slow to give up 'trying' for that little extra. Hence why during this adjustment period, agents are struggling to tie things up, there is a gap between the twos percieved values, buyers are undervaluing a litte and Vendors (and agents) are overvaluing still. I just mean perhaps reporting slightly less sensationally and little more factually would perhaps alert Vendors they need to lower their expectations whilst not scaring the wits out of Joe Public to the point that we panic ourselves into a crash. BUT AS I SAID I don't don't for sure either way. My reason for writing was due to the real lack of Substance in an article of this type. Just as a word of advise, I have moved back into the lettings market recently and woudl recommend considering it as an option to help you weather the storm. Kind Regards Ps - don't know how you would have looked at whats on our books, but we've 40+ on at the moment (that's the problem! :-)

Spanish Gentleman wrote:
Some more number crunching. Posts on Appeal For Blood Donors - 7 Posts on House Prices - 164 Silly silly people.

Spanish Gentleman wrote:
Some more number crunching. Posts on Appeal For Blood Donors - 7 Posts on House Prices - 164 Silly silly people.

Honour High napped wrote:

Spanish Gentleman wrote: Some more number crunching. Posts on Appeal For Blood Donors - 7 Posts on House Prices - 164 Silly silly people.

Winning Nap given at 11:23 am Honour High @17/2 only 14 comments. Silly Silly

george wrote:

Spanish Gentleman wrote: Some more number crunching. Posts on Appeal For Blood Donors - 7 Posts on House Prices - 164 Silly silly people.

but people's banks want blood as well!

Spanish Gentleman wrote:

george wrote:

Spanish Gentleman wrote: Some more number crunching. Posts on Appeal For Blood Donors - 7 Posts on House Prices - 164 Silly silly people.

but people's banks want blood as well!

Some people could not give an Aylesbury Duck about anything else but their personal finances it appears, eh George.

graham wrote:
As a hmoeowner am I bailing out? nope. I need my house to LIVE in thanks, and so do my kids and not to mention the missus; its what houses are there for, just in case we've all forgotten.

Richard wrote:
Haven't Spanish properties already seen a crash?

Mr Lee wrote:
Have you ever seen so many responses to a news article? It just goes to show how emotive the whole house price subject is. What is very clear from reading these posts is the amount of people that are just point blankly refusing to admit that there is anything wrong with the economic mess that Old Brown Nose has gotten us into. Perhaps, quite understandably they want to protect their investments and think that by ignoring the current and very obvious slow down they are somehow going to prevent it. There are also a lot of posts from people that are patiently waiting for a slow down or drop in house prices. These people are not bitter, or desperate or doom mongers, they are simply hard working people that have been priced out of the market by the ridiculous and unstoppable rise in house prices and they just want the chance to put a roof over their head or a place to call their own. It seems that investors, developers and the thousands of buy to letters are convinced that there is a finite amount of money in this country and that prices can and will continue to go up and up and up. How is this supposed to happen when 70% of this countries working population are on salaries or pay that is below £18,000 per year? The same excuses are trotted out time and time again, like supply and demand. If that’s the case, why are there thousands of flats and city centre apartments sitting empty in places like London, Birmingham, Liverpool and Manchester? Properties that the sellers have openly claimed they have been unable to sell. Just down the road from us here is a block of new build flats that have been empty for over a year. Is it because there are no buyers or because they cost £200,000 for a show box that you couldn’t swing a cat in? I think what is clear from the current situation, is that a slow down is happening, the BOE have based our entire economy on house prices, which are no starting to falter. Whether anyone likes it or not, the government are grabbing at straws and trying desperately to prop up the miracle economy that they have created through over borrowing and selling our entire manufacturing base and industry down the river. If house prices go down, so does the economy. That’s not a very pleasant prospect, but it does need to happen to bring the cost of living and real earning back in line. This country has been driven forward by ten years of utter greed and materialism and now it’s coming back to bite us on the backside. Some people deserve that for playing their part in the and other will be caught in the crossfire, I for one saw it coming ages ago and made my provisions – I’m just going to sit back and watch Rome burn!

dc wrote:
well this story does nothing to help the hundreds of estate agent businesses across sussex trying to stay afloat.
don't get me wrong, i am no fan of estate agents, but this scaremongering story is totally unjustified and wrong with no actual fact behind it.
This kind of talk helps no-one, yes things are bleak, but there are positives to come aswell.

Sara Guppy wrote:
The most irresponsible piece of journalism I've read in a long time. Well done Argus.

Spanish Gentleman wrote:

Mr Lee wrote: Have you ever seen so many responses to a news article? It just goes to show how emotive the whole house price subject is. What is very clear from reading these posts is the amount of people that are just point blankly refusing to admit that there is anything wrong with the economic mess that Old Brown Nose has gotten us into. Perhaps, quite understandably they want to protect their investments and think that by ignoring the current and very obvious slow down they are somehow going to prevent it. There are also a lot of posts from people that are patiently waiting for a slow down or drop in house prices. These people are not bitter, or desperate or doom mongers, they are simply hard working people that have been priced out of the market by the ridiculous and unstoppable rise in house prices and they just want the chance to put a roof over their head or a place to call their own. It seems that investors, developers and the thousands of buy to letters are convinced that there is a finite amount of money in this country and that prices can and will continue to go up and up and up. How is this supposed to happen when 70% of this countries working population are on salaries or pay that is below £18,000 per year? The same excuses are trotted out time and time again, like supply and demand. If that’s the case, why are there thousands of flats and city centre apartments sitting empty in places like London, Birmingham, Liverpool and Manchester? Properties that the sellers have openly claimed they have been unable to sell. Just down the road from us here is a block of new build flats that have been empty for over a year. Is it because there are no buyers or because they cost £200,000 for a show box that you couldn’t swing a cat in? I think what is clear from the current situation, is that a slow down is happening, the BOE have based our entire economy on house prices, which are no starting to falter. Whether anyone likes it or not, the government are grabbing at straws and trying desperately to prop up the miracle economy that they have created through over borrowing and selling our entire manufacturing base and industry down the river. If house prices go down, so does the economy. That’s not a very pleasant prospect, but it does need to happen to bring the cost of living and real earning back in line. This country has been driven forward by ten years of utter greed and materialism and now it’s coming back to bite us on the backside. Some people deserve that for playing their part in the and other will be caught in the crossfire, I for one saw it coming ages ago and made my provisions – I’m just going to sit back and watch Rome burn!

You were doing so well until I for one saw it coming ages ago and made my provisions – I’m just going to sit back and watch Rome burn! and now you come across as big as small minded petty selfish snide as most people on here.

richboy wrote:
I sold up in london and I've bought 10 flats in brighton 1 year ago. I'm not really that bothered if prices plunge as I'll just buy some more flats as I'm in it for the long haul.

Dave wrote:
Estate agents have a lot to answer for in this. They have been pushing up house prices for as long as I can remeber to fund their own lifestyles with not a second thought about how they are effecting the economy. I have been saying for a while that, Estate agents should be banned from charging a percentage and only be allowed to charge flat transaction fees, this would remove any gain for them in pushing up prices to keep their convertible Audi or Bimma on the road.

Anon wrote:
My girlfriend and I bought a studio flat last year. Thanks to the fact that I had lived there for many, many years, purchased it at a discounted price. However, we cannot afford to have a family (something we would both dearly love), as we cannot afford to move to a larger property. Without wishing anyone any bad luck, this may, just may give us a fighting chance to have something that previous generations were more able to have, i.e. a child. We are not greedy nor wanting a property as an investment, merely a home in which to grow old together, nothing more.

brenda wrote:

Anon wrote: My girlfriend and I bought a studio flat last year. Thanks to the fact that I had lived there for many, many years, purchased it at a discounted price. However, we cannot afford to have a family (something we would both dearly love), as we cannot afford to move to a larger property. Without wishing anyone any bad luck, this may, just may give us a fighting chance to have something that previous generations were more able to have, i.e. a child. We are not greedy nor wanting a property as an investment, merely a home in which to grow old together, nothing more.

Anon At least be grateful you have managed to get a foot on the ladder.

Anon wrote:
Brenda, we are grateful, but we didn't think we would be stuck in a glorified bedsit for the forseeable future. We both work hard for a reasonable wage (although nowhere near enough to improve our situation) and we are both in our late 30's. Time is running out for us to have and raise a child and other than move to somewhere away from our jobs, family and friend we are pretty well stuffed. If this crash happens, we might be able to move forward a little. As I stated earlier, we just want a proper home.

Just reading all the quotes, and would like to know how many people are pure Brightonions,?? Went to school in Brighton?? and now work in Brighton??, Bringing up kids in Brighton??....Maybe im wrong but the ones who keep calling people names are you from here??, as any Brightonions know we cant afford to buy in our own home town anymore...it would be really nice that we could afford it!! So bring it on!!!....And then Maybe the rent prices will come down aswell!!! And our Football team will get full support from true Brightonions who will be able to afford to live back in BRIGHTON!!!

Lucky7 wrote:
Anon, decide what you want the most. If it\'s a family rent your studio out, and with the balance from the mortgage (you said you paid relatively little for it) plus your normal mortgage payment you should be able to rent a two bedder (&800/850 less for one and a half), then when prices fall and borrowing easier either strip equity out of studio (and keep as investment) to put down on a new purchase or sell studio and do same. Think around the problem to do what is important to fulfill your life, not be trapped by it.

Actually wrote:

Just reading all the quotes, and would like to know how many people are pure Brightonions,?? Went to school in Brighton?? and now work in Brighton??, Bringing up kids in Brighton??....Maybe im wrong but the ones who keep calling people names are you from here??, as any Brightonions know we cant afford to buy in our own home town anymore...it would be really nice that we could afford it!! So bring it on!!!....And then Maybe the rent prices will come down aswell!!! And our Football team will get full support from true Brightonions who will be able to afford to live back in BRIGHTON!!!

Er....Brightonian? You\'re home town is Hove, by your own admission. Fool!

Anon wrote:

Lucky7 wrote: Anon, decide what you want the most. If it\'s a family rent your studio out, and with the balance from the mortgage (you said you paid relatively little for it) plus your normal mortgage payment you should be able to rent a two bedder (&800/850 less for one and a half), then when prices fall and borrowing easier either strip equity out of studio (and keep as investment) to put down on a new purchase or sell studio and do same. Think around the problem to do what is important to fulfill your life, not be trapped by it.

Lucky7. To rent it out we would have to cover a mortgage repayment of £500 a month. We would be lucky to receive that much in rent, would we not? Then you suggest we pay 800/850 a month to rent a larger flat. How is that really going to help us? I thank you for your input, but I really don't think the sums add up. Bear in mind also, that if we went ahead and had a child, we would be relying on one wage only for some time. Anyone else have any suggestions please?

Anon wrote:
Jim. We paid 80k for it and have a repayment mortgage with the Abbey. We would really like to stay in the area ( I AM born and bred here). Surely travel costs have to be taken into consideration too? So many people have said to us "just go ahead and put yourselves on the council list", but we don't want to go down that road. Also, if the value of properties falls dramatically, so will ours and we are then stuck in rented accommodation and all it's related problems (short leases, rent increases etc ). Perhaps we should see an advisor, but who to go to for fair advice?

David wrote:
Hello, Redaing through the posts there must be some estate agents on here. Those of you who are complaining about this artcile, were you complaining when the papers wrote the opposite, house prices going to rocket forever buy NOW NOW NOW ! No thought not. What goes around comes around. What estate agents must understand is the housing market has had a great bull run and that bull run has come to an end, something was going to **** it and in this instance US subprime. Cheap money, reckless lending by banks how been out of order. Losses from the bank will hurt them badly and house prices are over valued by 35%. They will fall back to 2002 levels. So stop complaining and expect the worst because, debt, cheap free money has gone for for quite some time now.

dc wrote:
well this story does nothing to help the hundreds of estate agent businesses across sussex trying to stay afloat.
don't get me wrong, i am no fan of estate agents, but this scaremongering story is totally unjustified and wrong with no actual fact behind it.
This kind of talk helps no-one, yes things are bleak, but there are positives to come aswell.

Flat Foot Soozie wrote:
If nobody moves, then homes are scarce, and prices keep up - but, of course, there is then nothing for the Argus to get in weekly advertising supplement... Could this be behind this thin story?

phil wrote:
We will not be satisfied until we talk ourselves into trouble. It is stories like this that do nothing to help the situation but just put fear in place. The meltdown anticipated above is pure exaggeration and based on very little fact.

undercover agent wrote:

David wrote: Hello, Redaing through the posts there must be some estate agents on here. Those of you who are complaining about this artcile, were you complaining when the papers wrote the opposite, house prices going to rocket forever buy NOW NOW NOW ! No thought not. What goes around comes around. What estate agents must understand is the housing market has had a great bull run and that bull run has come to an end, something was going to **** it and in this instance US subprime. Cheap money, reckless lending by banks how been out of order. Losses from the bank will hurt them badly and house prices are over valued by 35%. They will fall back to 2002 levels. So stop complaining and expect the worst because, debt, cheap free money has gone for for quite some time now.

David, i think you are a rather mis educated idiot. The fall in prices makes no difference to estate agents as they just fix the fees they charge. in a harder marketplace agents will charge more for the work they do. the only loser again is the homeowner. may i also point out that in europe, agents charge on average 5%. with the price issue, its a real shame that the argus is cheaply selling papers by reporting these silly headlines, they help no-one. The marketplace in brighton and indeed the country will be harder (in comparison) to 2007 however will not be as bad as the media forcasts. If you read what actual property experts believe the story is very different. people who over value property will go out of business. people who try and sell for too high a price will not sell. those who price correctly will sell. its what should be considered a normal market. whatever industry you are in, if you sell a product you have to get the price right, if you dont, it wont sell, its that simple. as a final thought, britain is not getting any bigger however due to the labour government opening up the flood gates, every day more and more people pile into the country. Mr Brown is even needing to build 3 million new homes to ease the housing crisis! if you want to find out the real state of the property market, look for an estate agent who is a member of the national association of estate agents. the know it all idiots are just that, idiots ...

james wrote:
People also have a write to an investment brambo you idiot, especially as pensions are a joke..whats the matter..bitter cos you are still living with mumy and daddy..get over it!

james wrote:
People also have a write to an investment brambo you idiot, especially as pensions are a joke..whats the matter..bitter cos you are still living with mumy and daddy..get over it!

george wrote:

undercover agent wrote:

David wrote: Hello, Redaing through the posts there must be some estate agents on here. Those of you who are complaining about this artcile, were you complaining when the papers wrote the opposite, house prices going to rocket forever buy NOW NOW NOW ! No thought not. What goes around comes around. What estate agents must understand is the housing market has had a great bull run and that bull run has come to an end, something was going to **** it and in this instance US subprime. Cheap money, reckless lending by banks how been out of order. Losses from the bank will hurt them badly and house prices are over valued by 35%. They will fall back to 2002 levels. So stop complaining and expect the worst because, debt, cheap free money has gone for for quite some time now.

David, i think you are a rather mis educated idiot. The fall in prices makes no difference to estate agents as they just fix the fees they charge. in a harder marketplace agents will charge more for the work they do. the only loser again is the homeowner. may i also point out that in europe, agents charge on average 5%. with the price issue, its a real shame that the argus is cheaply selling papers by reporting these silly headlines, they help no-one. The marketplace in brighton and indeed the country will be harder (in comparison) to 2007 however will not be as bad as the media forcasts. If you read what actual property experts believe the story is very different. people who over value property will go out of business. people who try and sell for too high a price will not sell. those who price correctly will sell. its what should be considered a normal market. whatever industry you are in, if you sell a product you have to get the price right, if you dont, it wont sell, its that simple. as a final thought, britain is not getting any bigger however due to the labour government opening up the flood gates, every day more and more people pile into the country. Mr Brown is even needing to build 3 million new homes to ease the housing crisis! if you want to find out the real state of the property market, look for an estate agent who is a member of the national association of estate agents. the know it all idiots are just that, idiots ...

Undercover Agent, if there is such a massive shortage off houses then where is everone who\'s supposed to want them? It\'s all part of the speculative bubble that we are in. There is no real shortage now and there be even less of one when all the polish labour drifts home having run out of work. I think you\'ve been sucked in to the bubble mentality. So are you going out tomorrow to buy lots of property to back up your stance? Or is it just that you have some stock to UNLOAD? In my area the lo