House prices rose, property market picking up

[Gully]

I bought in Gloucester 18 months ago, stretched myself a little to get something half decent, though an equivalent property in Brighton would have cost me nearly twice as much. I see my home as just that, it is where I live, I suppose in the long term it may be viewed as an investment as once the mortgage is paid I will be left with an asset that may or may not have increased in value.

I guess it depends on living within or just outside your means, the job market in this area is fairly healthy, granted the pay isn't as high as the south east but neither are the living costs so all things are relative. That said I wouldn't want to be in the public sector living in the south east any more, I just can't see how people can maintain even the most basic standard of living.

 

[clapham_gull]

I havent got a clue how much my one bed flat is worth. Not that much, but I can probably safely that my mortgage payments would go through the roof if buying now.

I maybe facing redundancy in 6 months time, since the contract I work on has come to an end. Buying your own home doesn't always give you the security you think it does.

 

[Stumpy Tim]

I own a place in the marina, though it's on the market and has been for a few months - not a sniff of interest at the moment. I've also got a place in Sydney. We are also on a high at the moment, but fortunately I bought $50k under it's true value so I'm okay.

I don't care about rising house prices on Brighton - I just want somebody to buy my place!

 

[Chicken Run]

I don’t know why everyone is so worried about house prices keep going up. The bubble will burst, and when it does then the first time buyers will have a field day. People who think it’ll not burst should wake up to reality.

All you first time buyers shouldn’t panic neither should parents who are worried about their children getting a place. Like the saying goes, what goes up must come down.

Germany had a housing boom after our crash and look at them now, it’s a cycle, we had our boom in the 80’s then a recession while others looked at us as the poor man of Europe while they were enjoying what we are now, our time will come again and it’ll come quicker than most people think, Gordon brown has lost the plot, with raid the pension funds, spending more than he can borrow, his prediction of growth is fantasy and taxes will have to go up meaning bloody nightmares for everyone.

Laugh at me if you like, It’s my opinion and it’ll happen.

Much as I hate Gordon Brown IMHO u r wrong, FTB's for the last 15 months have been sitting tight watching price increases grind to a halt in the hope that at some stage they will start to drop, well only problem is seller's at present dont have to drop and will continue to hold out for their price, yes true some will sit on the market as well as others being withdrawn, the biggest problem is that in the last three months less properties have come to the market and buyers are starting to realise they need to buy now! If the BOE reduce one more time this year 2006 looks like a year of steady growth. IMHO

 

[Shropshire Seagull]

I don’t know why everyone is so worried about house prices keep going up. The bubble will burst, and when it does then the first time buyers will have a field day. People who think it’ll not burst should wake up to reality.

All you first time buyers shouldn’t panic neither should parents who are worried about their children getting a place. Like the saying goes, what goes up must come down.

Germany had a housing boom after our crash and look at them now, it’s a cycle, we had our boom in the 80’s then a recession while others looked at us as the poor man of Europe while they were enjoying what we are now, our time will come again and it’ll come quicker than most people think, Gordon brown has lost the plot, with raid the pension funds, spending more than he can borrow, his prediction of growth is fantasy and taxes will have to go up meaning bloody nightmares for everyone.

Laugh at me if you like, It’s my opinion and it’ll happen.

Oh please! I resprect your right to an opinion but this is utter tosh.

"What goes up must come down" - is a law of gravity not economics (anyone see much price reduction in; salary, petrol, food, etc, etc.

The German property market cannot be compared to the UK, their % ownership is significantly less than ours, they prefer to rent.

The UK economy is in a very different state now to what it was in the eighties when we had a housing price crash and people suffered negative equity - it won't happen this time since we have low inflation, lowish interest rates and low unemployment - IT WILL NOT HAPPEN.

I do agree with your comments about Gordon Brown and his tax regime - he's a thieving bastard!

Best advice - get on the property ladder any way you can - for those who can't do it in the UK, buy abroad - see Jet-to-let.

 

[Yorkie]

Nothing much has changed in 40 years. North/South divide? It is was one of the reasons I moved to Yorkshire in the first place (besides marrying a Yorkshireman) Down here the houses were £6K, up north they were £3K.
On wages of £20 a week a single person couldn't afford to buy but a couple could.
This is why people are buying and getting a lodger in. One way to get on the ladder is to share a mortgage either with a partner or a mate (providing you are not going to fall out for a few years to come) then agree to sell later when you want to go your separate ways or buy one another out.

 

[Yorkie]

House prices have always gone up eventually and there was only the minor blip for a while when there was negative equity. Then prices started rising again.

 

[The British National Party]

it won't happen this time since we have low inflation, lowish interest rates and low unemployment - IT WILL NOT HAPPEN.

I do agree with your comments about Gordon Brown and his tax regime - he's a thieving bastard

Low unemployment? Its risen for 13 months in a row now and continuing at a rate that we haven’t seen for 12 years. Worry? I should be if I was a house holder.

 

[Chicken Run]

Low unemployment? Its risen for 13 months in a row now and continuing at a rate that we haven’t seen for 12 years. Worry? I should be if I was a house holder.

Again I back you on the way the current admistration will leave this country on it's knee's , a Labour government always does! I've been a property owner since the late eighties so I think I'm reasonably qualified to say I'M NOT WORRIED

 

[Chicken Run]

I own a place in the marina, though it's on the market and has been for a few months - not a sniff of interest at the moment. I've also got a place in Sydney. We are also on a high at the moment, but fortunately I bought $50k under it's true value so I'm okay.

I don't care about rising house prices on Brighton - I just want somebody to buy my place!

Who's the selling Agent

 

[caz99]

Some people do my bloody head in. the only people who are laughing are second home owners. i have been saving for just over a year with my partner and we dont have expensive lavish lifestyles, together that and the fact that i havent had a payrise in three years makes things pretty damn bloody hard. we will be able to afford nothing like what people think. second home owners are creating the situation and making it worse.

a studio flat between worthing and brighton is about 110.000.

i dont particularly want 35 year mortgage of around !150,000 hanging around my neck so i can get a 2 bed house in a crummy area.

i will be laughing when they do drop because they will. its a proven fact and nothing to do with labour. the tories last forced us into recession.

 

[Stumpy Tim]

Who's the selling Agent

Palms. If you're interested drop me a PM

 

[Deportivo Seagull]

When the average household spends some 65% of their total income on the morgage, there isn't much more room for expenditure. You need more income to afford bigger houses etc.
If you have to spend all you income on morgage and necessities you can't spend it on luxury goods cars etc. Which is what the economy needs to get in going again.

 

[SK1NT]

House prices wont drop, i wish they would but i cant see it happening. Ive been trying to get on the property ladder for 3 years now, holding out for this 'so called' crash that isn't gonna happen.

Why doesnt GB get rid of stamp duty for first time buyers, that would help and regain that cash by increasing stamp duty on people buying their 2nd house (owning 2 houses)

 

[Yorkie]

Get into Newhaven quickly before the prices rocket (taken from the Argus)

£100m project to revamp port

by Tom Pugh

A run-down port is to get more than £100 million for one of the biggest regenerations of the Sussex coastline in history.

Developer Oakdene Homes has paid £11.2 million to buy 19.7 acres of land in Newhaven.

In a move which could have far-reaching implications for house prices and tourism along the entire East Sussex coastline, the company will build at least 640 homes and 30,000sq ft of leisure and recreational facilities.

The news has been welcomed as a sign that the area - which has been in the economic doldrums for decades - could become one of the most prestigious destinations in the South for young homebuyers and London commuters.

The value of the development at Newhaven Marina, West Quay and Railway Quay is expected to reach £150 million.

Planning permission has already been granted for 120 apartments and six shops on 1.5 acres of the West Quay.

Building work is due to start in January and the first home will be ready for people to move in 12 months later.

Further planning applications will be made over the coming months, signalling millions of pounds of fresh investment for Newhaven.

Graham Amy, chairman of the Newhaven Community Development Association, said: "This is brilliant news for Newhaven.

"It will make Newhaven a better place to live, work and visit."

Reigate-based Oakdene said it will retain the existing marina and make improvements to it while developing the West Quay and Railway Quay.

Part of the West Quay is already developed with housing and fishing facilities. Railway Quay, meanwhile, is semi-derelict with a couple of listed buildings that would have to be retained.

Oakdene chief executive Carl Turpin said: "This development is undoubtedly a very exciting project for the company.

"We will look to maximise the full potential of the project whilst focusing on an individual design in keeping with the environment and the lifestyle expectations of the likely purchasers."

The architects behind the project are Brighton-based Morgan Carn Partnership, founded in Hove in 1957.

Community leaders in Newhaven last night heralded the investment as further proof the town is on the up.

East Sussex County Lib Dem councillor for Ouse Valley East, Coun Pat Ost, said: "We welcome anybody prepared to continue regeneration in Newhaven which has been successful to date.

"There used to be a feeling that anything goes for Newhaven but that's certainly not the case now. We are no longer seen as the second best option."

Veteran Newhaven East Sussex county councillor, David Rogers, said: "I think this is the 21st Century part of Newhaven's regeneration programme. What is important in relation to the housing development is that a high percentage of it should be made affordable."

Liberal Democrat MP Norman Baker, whose Lewes constituency includes Newhaven, voiced concern that the sites might be turned into a housing estate.

He added: "While it is all very well to have homes and leisure facilities, if Oakdene think they can turn the place into a housing estate, then I think the planning authority will have something to say about that."

 

[BUTTERBALL]

There is still a north/south divide in terms of house price inflation. Things are very patchy down here at the mo.

 

[Rambo]

Well Iam on the property ladder but stuck in the middle.
Because of the 3 % stamp duty iam unable to look at houses above £250k.

Therefore I am stuck in my 3 bed semi, all i can do is move sideways to one similar or slightly bigger.

I sold mine within 2 weeks of putting on the market because I wasnt greedy, only for the chain to fall apart 2 weeks before exchange, having found a house that I wanted that needed a bit of work but had potential. Now that has been sold to someone else and I am back to square one again.

I had to save nigh on £10k for moving costs, do ya know what, I am now seriously thinking of blowing it on a new Plasma TV and a holiday.

A house after all is just a house.

First time buyers should stop their whinging, its all relative. It was bloody hard for me 4 years ago too.

 

[Yorkie]

Well Iam on the property ladder but stuck in the middle.
Because of the 3 % stamp duty iam unable to look at houses above £250k.

Therefore I am stuck in my 3 bed semi, all i can do is move sideways to one similar or slightly bigger.

I sold mine within 2 weeks of putting on the market because I wasnt greedy, only for the chain to fall apart 2 weeks before exchange, having found a house that I wanted that needed a bit of work but had potential. Now that has been sold to someone else and I am back to square one again.

I had to save nigh on £10k for moving costs, do ya know what, I am now seriously thinking of blowing it on a new Plasma TV and a holiday.

A house after all is just a house.

First time buyers should stop their whinging, its all relative. It was bloody hard for me 4 years ago too.

Some people keen to move due to relocation will offer to pay the stamp duty as part of the deal.
My daughter did when she sold her house.

 

[Shropshire Seagull]

Low unemployment? Its risen for 13 months in a row now and continuing at a rate that we haven’t seen for 12 years. Worry? I should be if I was a house holder.

Rising it may be, and its now at 4.5% - the time to WORRY is when it gets to over 10% and there are more than 4 million out of work. This will cause stagflation which may lead to recession as we did in the 80's

I say again IT WILL NOT HAPPEN the economic circimstances are a million miles away from what they were back then.

Anyone sitting back waiting for a property crash is in for a disappoiontment - get on the property ladder now, before that 1st rung is too big a step for you.

I gave a "Jet-to-let" tip in my last post, here's another - "Shared Ownership" - I started this way and now own 3 properties in the UK and a villa in Florida .....