garyrs

[quote="Ex-Finesse"]that is true they may not be able to buy , but they will need to rent wich will surly be a massive rise in the buy to let market that will not ever crash unless the they all go home???

Drunken Master

That’s the best explanation I've heard. As said there could be a small decrease but no more than 10% like what has recently happened in Ireland but there prices were skyrocketing. There’s more chance that prices could level off.

If they were to crash the economy would be completely ruined. Loads of people would be made bankrupt! Let’s face it since the crash in the 80's house prices have just reached what they should have been by now anyway!

So if people are waiting for a crash to get on the property ladder, you'll be waiting a long time I would have thought.

Jon(M600BHP)

I think most of the probs stem from it been way to easy to borrow money

When i bought my first house 10 years back the mortgage companys where well strict( 5 percent deposit and only 3 times your annual wage)
I got turned down by plenty of lenders

Now you can get 100% mortgage at 5 times your annual wage

I think if mortgage companys had still been strict then house prices wouldnt be as high( Because if peeps cant afford them, house prices would of stopped rising ages ago)

It would also help if Southern Investors stop coming up to our little northern towns and buying every property that comes on the market as investments

GUZZLER

iTrader: (3)

[quote="garyrs"]what you seem to forget is that most asylum seekers end up in the council system, thus meaning that a lot of British people who would normally be living in a council house can't get one or wait years, therefore they end up having to private rent or buy, this puts a lot of people right on the breadline.
what everway the population has always increased, the fact that 1500 odd imigrants a day (thats over 10,000 people a week ) come to this country dosn't help, how many homes are built a week!!

PastyKing

GUZZLER
well said mate

Rallye Chick

House prices wont come down like!

We bought ours just over 2 years ago and although the market has settled down over last 2-3 years ours has still incresed by at least 10%

cossie4i+

iTrader: (15)

Mines gone up in value by £110,000-£120,000 in 5 years.

Would mean sod all if i moved as i would have to pay more for another place.

Steve.

garyrs

[quote="GUZZLER"]this maybe very harsh and i feel sorry if this does put people on the bredline , i have no house and still live wit me parents cos i cant afford to buy , maybe i didt say what i mean - either way you look at it whoever is renting privately or coucil there is still abigger demand for propety than ever before and imiggrants and people from poland ,lithiania and the rest that can get work permits are gonna have an effect on the propety up or down , so i guess if its them or us who cant get a council house one or the other will have to rent . this is why i thought the may be a a lot of people who would still buy to let

Ex-Finesse

Saw that graph a while back, but only up until 2004...

The fact we have a load of immigrants will not stop the bubble from bursting.

£199,000 is the average figure at exhange - Feb, 2007.

Someone said the London market was deteriorating which is far from true. The Central London market grew by around 25% last year, due to wealthy foreigners investing and City bonuses.

BRAMMER

iTrader: (23)

It was in our local property paper that the north of the country property sales were down by nearly 2% this year and it was only London that was up by 2% due to investors and the Olympics games.

xr2i-carl

unless the country goes into crisis i cant see it crashing, would take alot for it to crash

a war, a epedemic of disease etc!!

theres always a demand, and the people who cant afford to buy

HAVE TO LIVE


so they rent, so keeps people in that bussiness making money

Lambchop

iTrader: (1)

Cant see it up here in Aberdeen really! Prices have EXPLODED since i bought my place 18months ago. If i sold today i'd probably make £90k profit! Not bad in only sucha short time

BUT, i cant stand people getting a hard on about what they have "made" when they try to sell and buy somewhere bigger thats gone up by same %

Thrush

iTrader: (1)

I agree - it's only "profit" if you are downsizing to a smaller, and thus cheaper, house or selling up to move abroad or something....

Guy at work, his parents just sold up to move to Spain - bought their house 20yrs ago for something daft like £50k, just sold it for £350k, and bought a MASSIVE fuck off house in Spain for about £200k.....

I;ve been trying to convince my mum to sell her place and downsize. It's just her and my youngest sister now since my bro moved out 2yrs ago, I just moved out and my other sister has moved out. It's a 4 bed fully detatched, big garden, and currently stands at about £350-£360k - if she puts about £18-£20k into getting the roof redone and finishing the decorating, it's potentially worth £400k - not bad considering my parents bought it for £40k 26yrs ago!!!!! I reckon she should sort it, sell it and buy a place half the size with half the running costs!

Ginge !

[quote="Ex-Finesse"]what a load of total and utter bollox !!!

houses OUT of london have risen over the las 4 years higher than london

i LIVE in london !!!

i OWN a property in london and i KNOW what they are worth

my property was worth 185k last year,,,,, i know its not worth 250K and my old mans house aint now worth 420k either


they have leveled and the only housing in london that are selling either need no work on em or are under 250k, the ones MORE than this aint going up

smaller places are going up like studios and 1 bedrooms ect,, there worth a few k short of mine cause there NO WHERE for same for my amount,,,, people either aint selling or when they are theres a list of 15 names waiting for em

the places in the estate agents windows are NOT selling in london



house buying is a little shite in london due to this,, you cant find a place worth buying if im honest or the place is over valued and needs more money spending on it ect

they aint gone up 25% ina year though EVER !!!!


its all bollox though cause NOBODY benifits from it aaprt from estate agents.banks and the government

i tried to sell my hosue as ive made a few quid out of it,, cant buy anything that wont cost twice as much as what i pay and give me LESS of a good location if im honest so im stuck here

if i buy a house i wanna own on my street then im gonna have to find 2 million

BRAMMER

iTrader: (23)

My olds have a 4 bed in Cheshire bought in 1990 for £115k and is now valued at £410k they are in the process of getting everything sorted to move to the states were their £410k will be more like $800k then live on their pensions.

dojj

iTrader: (3)

the old man bought a house in W4 way back in 75 for £10k
double fronted and all that sort of shit
2 weeks later he was offered £12k for it so he took it
but then again, the old man and both his brothers have always worked like cunts to pay cash money for all the houses they bought
in the years between 67 and 80 they bought one house in greenford, one hosue in hanwell, one hosue in west easling, another house in west ealing, another haouse in west ealing, the house in chiswik
2 of theses houses they sold to fund buying the others but when you think that the house they bought in 1980 for £20k in now worth closer to £700k thats a big increase
the house they bought where i grew up was £12k and it's now worth £350k

what people don't realise is that unless you bought 2 houses back in the day you cna't really flog one off and have loads of cash now because you'll have to buy soemthing for the same sort of money

my mate bought a house 3 months are having his £173k offer refused, and he ended up paying £200k for the same house
and just recently (after 4 years) he's bought the house next dorr and he had to pay £350k for it, plus another £50k to bring it up to normal living standards because it was owned and lived in by a single old granny who had pets

so prices on his road (west london) have doubled in 4 years

i've payed £280 for my house 2 years ago and the house just a few doors down has sold for £325k, so prices are still going up

the bubble won't burst but there are soo mnay peole who HAVE money from proerpty tha they are the only ones who will make a profit from this, everyone else is fucked

DanS

Thats the key thing that everyone seems to forget, it doesn't matter how much "profit" you make on a house, the only way you actually better from this is if you re-invest in two smaller properties further up north or out of town.

Kev.H

an indentical house next door to me just sold for 22k more than I bought mine for 10 months ago so yes its crashing NOT

Rallye Chick

my mam got 10 houses from my familys property business in her divorce settlement, way back in 1994.

now they have all rocketed in price so she has a good retirement fund and will be able to spoil her future grandchildren!

not that i get anything given but ive always been very proud that i have worked for every penny i have and it will stay that way!!

AlexF

What has the 80s crash got to do with the current housing market?

Interest rates where sky high then, the economy was crashing etc etc.

Or have I got the wrong end of the stick here?

Alex

Chip

iTrader: (3)

My view is that although prices at the moment seem to be completely stupid, I dont think there will be a crash like the 80s.

The reason being I know so many people who want a house at the moment but dont have one, in the 80s that wasnt the case, anyone who wanted a house had 1, or 2 or 3, there were people buying houses and not even bothering to rent them out because they were going up in value so fast you could buy one, leave it empty for a year, do nothing with it, and then sell it on for a profit.

So the way I see it, there are no "unwanted" houses at the moment like there were back then, and there are people desperate to buy if the market dips a little, so I think if prices do come down they will relatively quickly stabilise again.


But ultimately, the truth is that no fucker really knows!

Kev.H

thing is people are still buying and demand is still greater than supply escpically for certain types of houses in certain areas

S1rst

Thats not the case in my area at all mate. Seems to be loads that have been for sale for ages.

I remember not so long ago that you often had to pay way over the asking price due to high demand. It now seems that people have to accept offers below the asking and many having to reduce them recently.

Kev.H

sorry i meant in east anglia

Chip

iTrader: (3)

Its probably you and your mates with noisey old fords putting them all off

S1rst

Thinking about it you might have a point there mate.

Ex-Finesse

I'm talking about Central London - that's the few square miles incorporating the EC and W1 postcodes.

Prices in 2006 did rise substantially due to the afforementionned reasons. These increases were felt to a lesser extent in many of the areas surrounding Central London, where less wealthy people were priced out.

You may live in "London", whichever part that is, but I wouldn't profress to know everything purely on that basis.

One of clients I work closely with handled 24% of all exchanges in Mayfair last year... and Savills are currently trying to buy them out...

Let me assure you... places ARE selling

NathR

I fooking hope not, me and the missus are now under going the process of buying are first place. She's a mortgate advisor and no-one within the industry suspects there will be a crash but then who knows. I spent the last five yrs saying/thinking there will be one and have been seriously putting the whole subject off over the last two years but now I'm just glad I've hopped on the ladder as imo the prices will just keep rising, saying there will be one is just a good excuse for not getting on the ladder!

Jade1

I've heard that it's got really bad there, my uncle just moved out of Aberdeen, not too far, cant remember the name of it, but they done a bidding thing, and they got it for £110k or something, a BIG 3 bed.

Rhys

People who buy second homes or property developers should pay 30% tax on houses.

S1rst

I think that might be a good way to help the current problems.