Hrsturbo

Whats the market doing?

Will it crash?

Buy or rent?

Ginge !

not for a while buts its slowing in london

Mr S1

iTrader: (2)

Can't see the property market crashing mate, it may drop a bit but with round here with T5 going on I can only see them going up..............I'm no more than 20 minutes from any of Heathrow, M4, M25, M3, 30 minutes by car to Central London, an hour by public transport..............you're no more than just over an hour away in Essex so you'll be in the same boat.

If you can buy then I would.

charlie luciano

iTrader: (3)

Good advice above from Mr S1, I live close to heathrow and have recently moved from the first house i bought, i made 33k in 18 months, it is a big committment but its worth it as its also an investment,when you rent you are giving your money away, when you buy the way the boom has hit the housing market you more than likely to earn money, go for the buy if you can do it

C L

GARETH T

dropped in my area,,only a little

Hrsturbo

Shame I can only afford a flat in my area

Its got to be better than giving away my money renting though

Ginge !

but the money people make is pointless


the market aint gone up in the last six months in london,,,,,,,, my place is still worth the same but the sales are dropping

Kev.H

i think at the mo its picking up not prices but stuff is selling again ! Price it right dont take the piss and stuff will sell

looked at a property last week didnt like it but it sold in 2 days girlfs auntie just sold hers in a week

Ginge !

dont forget that house buying is longterm and the price of rent should be lower than a morgage


my morgage is less than rent, if it was more tbh i would have rented as theres less bill that eat you up

It's Czech Mate

Buy

You can get 10 year fixed rate mortgages at the mo

House prices are steadily going up for the 'Average' house

Areas seeing slight drops tend to be those with houses at the upper end of the market

Ginge !

people are moving out of london though not moving in

jasonp

[quote="b19bal"]but the money people make is pointless


why do you say that..?? I think earning 100k in a year tax free has got lots of points

The market is still good and around the south they are going up again,just buying right and if you put a bit of effort in theres still money to make out there

Jim Green

It'll never crash..... It might slow down abit, but it's the best investment you can make.

I paid 100k for mine in (And struggled for the first year, as I only took a 15 year mortgage) Hamphire in 2000, and had it valued at the end of last year with a view to upgrading.... and they valued it at 175k.... Not bad, making 75k in five years.

Ginge !

birmingham and aroud that area is a good idea, some parts of essex are still under 100k too

Hrsturbo

on housepricecarsh.co.uk some one wrote:

"Anyone who predicts a HPC will be 100% correct all of the time. Given enough time the market always sees see a boom and a bust. The skill is predicting when and by how much.



My prediction: The correction began late in 2004 when double digit inflation ended and the rate of appreciation slowed dramatically with single digit inflation following ever since. Late 2005 was the first time for negative YoY (Hometrack). December 2006 will see negative YoY of between 5-7%. December 2007 negative 10-15%, December 2008 negative 15-20%. Bottom will be around 2009-2012.

These predictions are not factoring in a global crisis such as a major war or significant bombing of a major western city (similar to 9/11), bird flu crossing over to become a 1918 style pandemic, Japan failing to keep central bank rates under 3%. If any of these occur all predictions are off as any one of them could trigger a major recession/depression and hpi will be an irrelevant issue."




I don't know if this site is full of people thinking its going to crash when its not though??

Any thoughts on the above quote?

DaveEscos

thats because you still live there!

Our house price has risen

Ginge !

cause the extra 75k is spent on another place


nobody is gonna make 75k anymore either unless the leave there area

Staffi

iTrader: (1)

Slowed up here in Coventry, maybe gone down a liitle cant complain though, paid 67k for it 5years ago, now worth 159k wish my cossie made a profit like that

Ginge !

dave how much though and could you sell and live off the cash ?


my old mans place cost 10k in 88,,,,,,, thats worth enough for him not to worry about his endowment but if he sells hes gonna rent till he pops his clogs

mines worth double what i payed but we bought it cheep anyway due to sitting tennets ect

jasonp

id have to disagree m8. We have a 100k mortgage and currently are looking to buy a 350k house. Ive only done 3 houses and made 250k in 2 years. How many people have moved up the ladder that quick.The next house will probably sell for 450-500k then i will buy something else for 350k and buy a nice fat porker,or the new skyline next year. so i would say thats pretty good IMO.Considering with 250k collateral(spelling) people will lend you 4 times the amount and you can get upto 4% interest in the right place on your money.

RichardPON

Moving out of London?

There are more flats being built inside the M25 than anywhere else in the country.

My brother bought his flat in Finchley for Ł215k in December, and the guy downstairs moved out last week for Ł235k - exactly the same flat, AND non-ground commands a premium.

Ginge !

whats a morgage on 235k though ?

there other things to consider too

how many rooms ect too as im sure 2 beds are doing nicer these days than 3/4 beds ?

Malc50

Hi All


All I am going to say is every economic cycle comes to an end.

I lied, one more point, do not over stretch yourself. By that I don't mean just the morgage, by all means try and buy the house you want but keep some spare capacity back incase for example rates go higher. Buying ur first house at the possible top of a market along with 20k in credit card debt is always going to end in tears

20 year GBP rates are currently around 4.65% which could indicate a stable market but remember this is effectivley an average view over a 20 year period. rates could swing a considerable amount either side of that.

Cheers Malc

Kev.H

all this talk of houses............ I just this minute put an offer on this



awaiting to here back

man I hate moving

DaveEscos

bought for 210
similar sold next to us for 270

and no of course not, divvo.. its my first house.. im only 26!

ask me when im a multi million property developer when i'm 50

matts1

Not going to crash, they have leveled I think.

Buying, even if it's a flat has to be better than renting a) foot on the ladder and b) your are buying something, when you sell it on you will get that money back hopefully.

I think the slight drop is down to the fact that estate agents were uping and uping the prices of houses while the market was rising, as it slowed they kept upping so they became overpriced, so properties were sitting on the market for to long and would then be price dropped or a lower offer accepted.

To keep things moving estate agents have started advertise houses at a figure that reflects the market to get them shifted more quickly.

Round my way a coul,e of years ago a 3 bedroomed place was around Ł135K, now they are up for Ł127K.

Keep in mind it isn't what the properties are advertised for, it is what they are actually selling for!

A friend of mine viewed a place up for Ł118K, he put in an offer of Ł100K and was laughed out of the estate agents, but asked them to put the offer in. He recieved a call saying the offer was rejected.

He popped round the the property that night and introduced himself to the seller who had heard nothing of an offer between them they agreed at Ł102K.

The estate agent was mega pissed off, but was quickly reminded that they had not put the offer in as they should, yet had claimed to have so buttoned their lips.

Buggers!!

Kev.H

sold or was advertised for big difference buyers are alot more choosey now

ps rightmove has an area which will tell you how much it sold for should you want to be nosey

Ginge !

bought cheep then as thats a good price for a 4 bed detached


and the reply i was expecting was a 15k rise

60k is somink you could live off for a few years

DaveEscos

fook off mate. a few years? try 1 ! if that really these days


halve that if you own an esc cos!

jasonp

I looked at a place last week, was on the market for 260k was never worth the money as it needed a good 30-40k thrown at it so we offered 200k cash. The agent said he valued it at 220k but the owners said they wanted it on for 260, it sold this week for 260k.But there is no chance of anyone getting a mortgage on it due to the work it needs, so i await the call to say are you still interested and then offer 180k . I think there are people out there who cant see beyond their nose,they will spend money on solicitors etc,get a survey done then find out they cant get the money.

Just an example of its not always the agents who are tits,its the public who make stupid decisions.

Ginge !

hey dave us poor people manage on 20k a year then thees tax to remove


fair play on your place though as i couldnt find a 4 bed near oxford for that

DaveEscos

i dont have a 4 bed you gom!


Tis a 3 bed semi

well.. 2 now... ive turned the 3rd in to a studio

Ginge !

oh, sorry i seen youn post a few months ago you got a 4 bed detached


still a good price though,,,,,,,, well assuming it is in kent

DaveEscos

link or STFU ginger tosspot!

Kev.H

covering the fact he still lives with his parents i reckon

Ginge !

fook searching for it

you was obviously taking the piss when it was typed


cant even have a conversation without you starting

DaveEscos

No, you are abviously talking out of your freckled, pasty, white, easily sunburned arse!

Ginge !

It's Czech Mate

You're assuming it's his only house

Its an investment for some folks