Prices must be up about 40% in Hove since you posted that. What happened?
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House prices to crash
- Thread starter Uncle C
- Start date
I wish you well...However the relentless House price rise continues...In Lewes prices have increased at least 5% since January 2015....smaller properties by substantially more.
Buying is the best option,
I have a friend who was renting at £1100, He bought about 15 months ago. His Mortgage costs him £1200 so he has paid for approx 3% of the property which has increased in Value by circa £25 k.
So he has paid £18000 for a return of £7500 (3% of house Value) + £25000 (increase in Value) = £32,500. If he was still renting at £1100 he would have paid £16500 and have gained nothing.
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melias shoes
Well-known member
- Oct 14, 2010
- 4,830
While I'm happy to laugh at Uncle C's spectacular stupidity, I can't help feel bad for those too young to have bought. How the hell are they supposed to buy a place now?
Agree. Around five years ago I had a discussion on this site about a couple of friends who earn well above the national average but could not afford to buy a small apartment for themselves. That was 5 years ago though and they earn well relatively speaking. Even less chance now. It's wrong.
Bombadier Botty
Complete Twaddle
- Jun 2, 2008
- 3,258
It has to stop somewhere, they predict a 30% rise over the next three years, but if you look at flats in Newhaven/Seaford for example some of them have been on the market for months, the prices on some having been dropped more than once and still no one's willing to pay the stupid asking prices. Bring on the crash.
melias shoes
Well-known member
- Oct 14, 2010
- 4,830
Thoroughly agree.
Bombadier Botty
Complete Twaddle
- Jun 2, 2008
- 3,258
The usual blinkered view that it's just 'the young' who are in this position. I know many people in their 40s and 50s who can't afford to buy. Not everyone is in a position to buy earlier in life or they choose to rent because of personal circumstance or may have lived abroad etc. Incredibly, a friend of my parents got her first mortgage at 72 years old.
Of course I don't think it's only the young. There are plenty of people who will never own their own home, but that will often be through their life choices. Most people in their 40s / 50s who worked hard to have a career, and wanted to buy, have been able to. That's not so true for those around 20 now. Even with a decent career they will struggle to buy much.
Zukey Seagull
Well-known member
that's crazy figures. I am lucky that I have not had to rent because my family and my girl friends family let us stay at home and save up for a deposit without having to pay rent at home. I'm 28 and still live at home but I am trying to get enough money together to but somewhere but the banks don't tend to give out too much money.
Plus I don't know if I want to try out the government "new buy" schemes, don't know if they are worth it.
Tough times.
Bombadier Botty
Complete Twaddle
- Jun 2, 2008
- 3,258
The whole 'hard work' thing is another 'only the young' generalisation. What about those 'hard working people' who come out of divorce settlements that see the property split up leaving them without enough to realistically get back on the ladder? And that is just one example. It's a problem that effects everyone across the decades, not just the young or middle aged bods who have been hard workers.
What about them? If you lose half of your home, why would you be able to own another? Should every couple be able to own two then?
If you're just talking about our lack of housing supply and our increasing population, then yes, that is an issue. Do you have a suggestion on how to deal with that?
Bombadier Botty
Complete Twaddle
- Jun 2, 2008
- 3,258
I really can't be arsed, I just feel that your view is a bit 'simplistic' that's all. Anyhoo, let's agree to disagree and give the football our full attention.
Ok, but only as long as we're winning. If Leeds equalise, I'm back on here to argue.
lizard
Well-hung member
- Jul 14, 2005
- 3,383
Go on then
So what do you think?
Bombadier Botty
Complete Twaddle
- Jun 2, 2008
- 3,258
I think we'll get back into this game. The NSK have gone up in large numbers for it so it'll be 'bouncy bouncy' the whole way.
SK1NT
Well-known member
Read this whole thread and [MENTION=2393]Uncle C[/MENTION] has
A bit disappointing he hasn't made any comment on this at all after how instrumental he was conducting his views and all the "bounce this thread in a year". Well 5 years on and no sign of this illustrious crash.
I also found this funny...
House prices are so unlikely to crash especially within the South East. As soon as there is a dip in the market people with money will just buy up more property as an investment.
The housing market it becoming more and more ridiculous especially in the SW london that i really believe we are seeing the end of the first time buyer unless for a few rare instances of inheritance, lottery win or by some other unlikely means.
I cannot get a standard 2 bed terrace for less than 700k. I'd have to be on a salary of about 200k a year to afford this. The average salary is around 26k.
Whilst foreigners and foreign businesses keeping investing in huge numbers of property in London the prices will continue to rise putting property further out of reach for the first time buyer.
A bit disappointing he hasn't made any comment on this at all after how instrumental he was conducting his views and all the "bounce this thread in a year". Well 5 years on and no sign of this illustrious crash.I also found this funny...
So does this:
Npower Football League One: Table
Team P W D L F A W D L F A GD PTS
1 Brighton 8 3 1 0 8 4 2 1 1 4 2 6 17
2 Peterborough 8 4 0 0 14 5 1 1 2 6 8 7 16
3 Bournemouth 8 3 1 0 13 4 1 1 2 6 5 10 14
4 Huddersfield 8 2 2 0 9 5 2 0 2 7 6 5 14
5 Colchester 8 1 3 0 6 4 2 2 0 5 3 4 14
6 Rochdale 8 1 2 1 5 5 2 2 0 8 4 4 13
7 Carlisle 8 2 2 0 6 1 1 2 1 3 4 4 13
8 Exeter 8 1 3 0 7 6 2 1 1 7 7 1 13
9 MK Dons 8 3 1 0 6 2 1 0 3 4 9 -1 13
10 Oldham 8 2 2 0 6 2 1 1 2 6 9 1 12
11 Charlton 8 2 2 0 5 3 1 1 2 5 6 1 12
12 Swindon 8 2 1 1 4 3 1 2 1 5 5 1 12
13 Bristol Rovers 8 2 1 1 4 6 1 2 1 6 6 -2 12
14 Sheff Wed 8 2 0 2 3 2 1 1 2 8 5 4 10
15 Notts County 8 3 0 1 8 5 0 1 3 4 9 -2 10
16 Hartlepool 8 1 1 2 6 11 1 2 1 2 1 -4 9
17 Plymouth 8 1 1 2 4 8 1 2 1 4 4 -4 9
18 Southampton 8 0 2 2 1 4 2 0 2 5 3 -1 8
19 Leyton Orient 8 2 0 2 6 5 0 1 3 4 8 -3 7
20 Yeovil 8 2 0 2 6 7 0 1 3 3 10 -8 7
21 Walsall 8 1 0 3 4 6 1 0 3 6 8 -4 6
22 Brentford 8 1 1 2 3 5 0 2 2 1 4 -5 6
23 Dag & Red 8 1 2 1 5 6 0 1 3 2 8 -7 6
24 Tranmere 8 1 1 2 3 6 0 2 2 4 8 -7 6
House prices are so unlikely to crash especially within the South East. As soon as there is a dip in the market people with money will just buy up more property as an investment.
The housing market it becoming more and more ridiculous especially in the SW london that i really believe we are seeing the end of the first time buyer unless for a few rare instances of inheritance, lottery win or by some other unlikely means.
I cannot get a standard 2 bed terrace for less than 700k. I'd have to be on a salary of about 200k a year to afford this. The average salary is around 26k.
Whilst foreigners and foreign businesses keeping investing in huge numbers of property in London the prices will continue to rise putting property further out of reach for the first time buyer.
Giant Seagull
That was textbook
I lived in London for 2 years paying a bloody fortune in rent in an ex local authroity flat, I didnt event bother looking to buy, i just got out as soon as I could and moved to Bath, Im still renting but iv;e got a massive garden that needs ride on lawnmower to cut(slight exageration)