We're all doomed, DOOMED I tells ya!

I thought house prices were supposed to be still falling? What happened to that?

 

They are...

property snake -- home -- find falling house prices in your area

Put your postcode in and have a look whats local to you..

The closest one to me has come down 18% in 16 months on the market..

http://www.propertysnake.co.uk/site/detail/14999495

 

Property Snake is abused by Estate Agents ..... they drop a wild price to get the property flagged up!

It is no reflection on what is happening - watch how often a property is hiked in price, only for the next day that increase is removed .... flagging a big drop (again) - but, it's all fake.

 

Really...?????

I dont think so.....Having your house flagged up on property snake isnt a good thing in my eyes...

 

The Future, Les - The Future .... we don't have to worry about it, so relax!

 

Those overpaid Bankers are Tories .... you wouldn't want your heroes to be out-of-pocket would you?

It will only get worse under a Tory Governemnt ....... they look after their own - on the plus side, they may squeeze the benefit culture!

 

In the North they may still be dropping ...... on the South Coast they have increased substantially.

 

^^^^^^^^^^^^^

Bollocks.....

 

Excuse me!!

 

The south west has an annual drop of -10.64% in average price in July 2009.
The south east -6.86%.


The "North" suffered -3.56% in comparison.

I cant see a "substantial increase" within them figures myself..

 

Yes, ANNUAL! If you don't get it, I'm not even going to bother trying to explain.

 

Hmmm...Yes im well aware of what the figures mean..

Nonetheless............Where is the substantial increase ??

 

I'm a Middlesbrough lad and am looking to buy a property on the South Coast.

I can see both markets quite clearly.

November 2008 was the time to buy on the South Coast, prices have recovered now by about 10% - fact.

Property in Middlesbrough has yet to bottom out, it's still suffering - fact.

I'm living and breathing it daily, I know what's happening on the ground.

 

What benefit would higher interest rates bring or indeed why would they go up when the country is in the gutter? 2010 will be worse than 2009 IMHO

TX.

 

So if prices are really on the up in your chosen area(s), and bucking the trend of the rest of the UK,why have you not bought a while ago ?

Surely someone who is "living and breathing it daily" knows when the time to buy is ? If you have missed out by 10% already,how much more money are you gonna waste because of your indecision ?

That coupled with still falling property prices of where you are now makes the margins even bigger..

Perhaps you do not have the amount of financial savvy that you think you have ????

TX...Higher interest rates would only benefit savers,not buyers..The interest rates at the moment are kept artificially low to try and encourage the economy.I have no doubt that the interest rate will go back up within the next 12 months,as it cannot be sustained much longer.

 

Had some excellent news today, just been accepted for a mortgage for a new flat, 85% LTV.

So lending does seem to be becoming more available if you know where to look.

 

Just to clarify ..... I live in the South, have business interests and relations in the North, I am interested in buying a retirement property on the South Coast - so, as it is not an investment property the price is not the driving force - wanting to retire in it is .... a slightly different thinking goes on.

I am simply reporting facts as they are in the markets I am operating - nothing more nothing less .... you have your own thoughts, fair enough.

 

Can't see them going up for at least 18 months myself. An increase any sooner will just prolong the recession which must be the last thing that "they" want? Why can't low rates be sustained?

TX.

 

My thoughts on the situation,and it is just "my" thoughts remember..

That with the % rate being very low,then income reaped from interest is low.There losing out on millions,if not billions of pounds on income.This income is needed/wanted by banks..But the government and the BOE are trying to keep the % low to kickstart the economy and housing market etc etc..

I dont think anyone can deny that financially were in kack and at the moment were in a situation of damage limitation,and every step is being taken to try and keep heads afloat.

Soon enough % rate will have to be increased to try and pull the country out of the huge debt that were in,and the only way to do it is hit the masses in interest and tax..

QE will also play a part,i think currently £175bn has been pushed into the economy,If the Bank applies too much - and it's an untested science - then rates may have to rise rapidly to control rebounding inflation.

Obviously there is hundreds of other factors involved and i have over simplyfied the situation..And im quite sure there is many people who can explain the financial situation a lot better than i can...

What really irk's me is that,if you have been careful with your money and have a little savings that you get nothing in return for keeping your money within the banking institution..
There is no incentives at all...Many accounts running at under 1% are just not worth having,we only keep ours open to pay bills and such..

 

Nationwide House Price survey out today. Month on month up 0.5%, down from 1.3% last month. I'm sure Pete can put a positive spin on that though, somehow?

 

Mortgage (new Mortgage Approvals UP 77%!)

Daily Express | UK News :: Mortgage lending leaps 77 per cent to 17-month high

People are buying, asking prices are being achieved, some have waited too long and missed the boat (I include myself in that sad group!).

 

When does the £175k Stamp Duty limit drop back?

 

Never knew it was £175k ?

When did that come in ?

Editted.....................31st December 2009

 

It came in for 12 months, I think .... but I cannot remember when it was introduced - was it September 2008?

 

HM Revenue & Customs: Stamp Duty Land Tax rates and thresholds

 

"The £175,000 threshold shown in the table applies from 3 September 2008 until 31 December 2009 inclusive"

Thanks for the link IanW.

I was convinced it was 12 months ..... 31st December 2009 is good.

 

Yeah, it worked a treat

FTBs are still unable to buy due to needing to borrow 6x, 7x, 8x++ the amount needed to get on that slippery ladder.

 

Well, someone is buying ...... 77% increase in New Mortgages is a massive rise!!

Care to tell me who are buying and with what? If not a large % of FTB?

 

Ask any estate agent who is buying, and they will tell you it's downsizers or people with the bank of mum and dad funding it.

77% is only up from this time in 08, which is 77% up on not very much. Still well under 50% from peak and about 2001 levels of trade.

The bubble is over. Your holiday home may soon be affordable.

This country is over - we've had our X5 time, paid for by MEWing.

All we're seeing is stimulus, which is, err, stimulating markets. Printing money has now stopped and we've seen very little for it. And it all has to be paid back.

 

Well, Well .... seems I have been right for months now ....

British house prices rose for the fourth month running and at their fastest monthly rate in 2-1/2 years in August, the Nationwide Building Society said on today, in a further sign the housing market is picking up.

There is about to be a massive explosion in House Prices .... those waiting have already missed the intial swing upwards .... JUMP NOW!!!!!