But the banks aren't giving cheap mortgates, if anything they are more expensive now than what they were 5 years ago as the banks are ripping the customers off to repay thier debt.

 

I guess people have taken the view that they cannot wait forever, and move .... who can blame them really? Why put your life on hold if there are many buyers waiting to buy your property?

I don't think FTB's are driving the market.

 

The laughable thing is this is probably the worst recession we will see probably in our lifetime and property didn't move much. I have no doubt it will be stagnant for the rest of the year but next year wages will rise and things will be better. All peoples hopes of property crashing down will never ever happen and they will just have to hope for a Honk Kong style 100 year mortgage

 

Many existing borrowers are quite happy though with these negative real interest rates, so little impetus to sell, or even a reason not to. If FTB are not driving the market, and we're looking at a lifetime of debt slavery to own property, how is that a good thing? Why is house price inflation good and other asset class inflation generally not so good?

I do not think we have had the worst of this recession yet by any stretch of the imagination, "growth" is being manipulated and storing up far worse trouble.

I wish it were different, and if it was I would not sit out of the housing market. Others take a different opinion, that is what makes a market.

 

We are going to view another house tonight, it was put up for sale on Saturday, there is a queue to view and an offer already!

I'm having to calm the wife down! Where is all the money coming from? I thought the country was broke!

Steve

 

still plenty of money about -- just concentrated in fewer peoples hands

it's called the "trickle up" effect

 

"Sold" signs up all over the gaff when I went for a walk this evening .Big detached down to small terraced ,plenty of " Sold" signs about .

This is even before the Spring feel good factor kicks in again .!!!!!

 

Even if Interest Rates went up, I doubt it would cool things down, as the Mortgage Rate has become detached from the Bank Base Rate.

Looks like the good times are rolling ..... and the gap in the polls is narrowing too!

 

Still, the prices increase .......

House prices have risen for the seventh consecutive month - rising by 0.6% in January compared with December, the Halifax has said.

The average UK home was valued some 3.6% higher in January than a year earlier, at £169,777.

The figures show the continued trend of rising prices which has helped mortgage providers ease their lending criteria slightly.


BBC News - House prices rise by another 0.6%, the Halifax says

 

So this is mainly well off people swapping houses - under the illusion that prices *should* be going up ( assisted by estate agents,naturally )

 

Do you think that our living standards will stay level or even increase in the near future then, and if so, how will that be possible?

Les

 

Living standards will surely increase,as they did before the bust.

People will buy a house. It's value will rise, they will withdraw that equity to buy cars, LED TV's, expensive holidays, new kitchens and bathrooms.

We have learned nothing.

 

I still can't understand why anyone would remortgage their home to buy possesions? I would only ever increase my mortgage if it added value to the propery such as an extension.

 

True ..... we are all used to having whatever we want, whenever we want it ..... it's going to be tough to end that kind of pleasure.

 

Still with the economy picking up, and jobs aplenty, I'm sure the good times are back to stay.

BBC News - Personal insolvency hits 'record high'

 

Well Im cracking open another Becks ,on the strength of it .!!!

 

me too njkmrs (in my new house) how is the merc btw

 

Yo hodgy0 2 !!!!

Have we got some pics of the new gaff ?????
Hope you bought it at the right price ,to get straight into positive equity !!


Yeh still loving the Merc ,albeit it has had a few issues ,new amp (£1000 ),new valve block on the suspension (£1400) ,oil leak from a wiring loom on gearbox .
Mostly sorted on warranty but still sw@nking about it in thinking im the Bees Knees !! Oh and new discs /pads on the front !!!


Anyway lets have some pics .Is this a stayer or improve and move ?
I still say property is the place to put your money .Not only that but you get to enjoy it whilst living there .Good Luck with it .Enjoy

 

Mortgage lending in the UK dropped sharply in January owing to a hangover from the rush to buy homes before the stamp duty holiday ended, lenders say.

Gross lending for home loans fell by 32% compared with December to £9.1bn, the Council of Mortgage Lenders said.

It suggested the decline was due in part to the threshold for paying stamp duty rising at the start of 2010.

However, the figure was 21% lower than January 2009 and the lowest monthly total since February 2000.

Further drops in prices on the way? It will be quiet until the election .. and then when the impact of the deep cuts in spending and job losses will put a damper on things?

 

In the area I'm looking to buy in, and have been for a year or two, this is only the second time I've seen prices being slashed £5k, £10k or £15k. That's only in the last 2-3 weeks.

Some houses have only been put on in January and have already had £10k knocked off.

There are also alot of houses which have been on since October/November and haven't dropped their price at all.

I refuse to pay £230-240k for a very small 2 bedroom house with a tiny garden so I need a good few months of asking prices dropping.

 

yhpm

 

Persimmon north eat still has loads of sales in for the 1st half of this year. Nearly as many sales for the 1st half as what they had for a full year 2 years ago.

 

The 1st half of this year ends in June 2010 - so, how can you comment about sales yet to show??

 

maybe he means the first half of the first half



even better -- fill those boots

 

UK house prices recorded their first monthly fall since June with a 1.5% drop in February, the Halifax has said.

The drop was caused by the end of stamp duty relief, the cold weather and more properties being put up for sale. The average home is now worth £166,857.

The Halifax said that prices were still 4.5% higher than a year earlier, but the market had slowed in recent months.

The survey found that prices are also a full 8% higher than the lowest point of the market in April 2009.

Is it just the snow and the end of stamp duty .... or something more fundamental??

 

 

Oh look it's snowing. Quick knock £10 000 off the asking price!

I think it is because the cash buyers are running out and those looking to buy are sitting tight waiting for this dip turn into a fall.

At the end of the day, the prices are still too expensive for most people.

Steve

 

Just around the corner from my girlfriend:


Guide Price £174,995 3 bedroom town house for sale Cartwright Way, Beeston, Beeston, NG9, just over a year old.

Or

brand new, a few spaces up the street £199,995 3 bedroom house for sale. Was £219,995.

 

I wish prices were dropping around here. I went to see a house and there have been three offers at the 'guide price'

Its now going to sealed bids

 

That simply means it was priced right ... not that prices are going up.