Roll up. Make your housing market prediction here.

meanmachine_2

Woby_Tide wrote:

Even meanmachine may be tempted at that price. He'll probably knock 15% off the asking price though as you and the estate agents have evidently overvalued it

250 quid for a house? What a rip off! What if it falls by 20% over the next five years?!! You fools, don't buy!

Poppy9

IN_LIKE_EVERYONE_ELSE! wrote:

..... Pop in to your local estate agent, they will be diving at your feet, they havn`t seen another human being since September last year! !........

So are you saying that EA are human beings :rotfl: OMG

meanmachine_2

Poppy9 wrote:

Funny enough I interviewed someone for a job last week who was relocating from Essex. They said they had to increase their mortgage to buy a house down here. I was surprised as when my sister moved back to Wales from London 18 years ago her 3 bed London house (£110k) bought a 4 bed semi here (£56k) plus a trading business.

Even madder is the stat that houses in Cornwall are nearly as expensive as those in London - and nearly 11 times the average local wage.

In fact, compared to the rest of the UK, London gaffs have never been cheaper!! Something's not right there, surely...

Poppy9

A study has been carried out by general union GMB.

The gross average hourly pay for full-time workers in Wales is:
1 Cardiff £12.68
2 Vale of Glamorgan £11.92
3 Flintshire £11.90
4 Neath Port Talbot £11.63
5 Newport £11.38
6 Bridgend £11.29
7 Rhondda Cynon Taff £11.01
8 Monmouthshire £10.93
9 Isle of Anglesey £10.92
10 Caerphilly £10.83
11 Merthyr Tydfil £10.69
12 Torfaen £10.63
13 Swansea £10.57
14 Wrexham £10.55
15 Conwy £10.51
16 Pembrokeshire £10.49
17 Blaenau Gwent £10.36
18 Denbighshire £10.13
19 Ceredigion £9.98
20 Gwynedd £9.88
21 Carmarthenshire £9.67
22 Powys £8.92

The UK national average is £12.75 with workers in London earning the most at a whopping £28.20.

The Government's stated minimum wage for workers aged 22 and over, set at a present hourly rate of £4.85

Although the survey shows the average is around £10 per hour, this figure can be pushed up by a relatively small number of high earners and those on bonuses and overtime.

I bet there are still a lot of workers who will look at the above averages and say 'I wish I was earning that'

deemy2004

The cost of living is far cheaper outside London , and a hefty chunk of that £28 is taken as tax.

GreenB_2

meanmachine wrote:

In fact, compared to the rest of the UK, London gaffs have never been cheaper!! Something's not right there, surely...

Perhaps people are just starting to realise that living in London is not all its cracked up to be - personally I wouldn't live in London as its not my type of place - far to busy and crowded and as Deemy2004 says the cost of living is much higher.

Is the average age of people living in say Cornwall higher than London.... the theory is people move to such areas when they retire (and can do so because they can sell their property in London and use it to fund the house in Cornwall etc).

meanmachine_2

I agree London is a stink hole.

But people still attach a premium to being able to journey to work in under 30 minutes (although this isn't always the case).

A few years ago I stupidly rented a place in a grotty part of South London as I had to work in SW London, thinking it would be a 10 minute car ride. And yes, it was a ten minute car ride....on a Sunday.

Most days it took me an hour.

I'd have been better off living out in Surrey and commuting in.

FaTB

Sentiment is now turning.

Everyday now we are getting more bad news about not only the housing market, but the economy in general.

Even in the mainstream media is beginning to pick up on it now.

I'll take a stab at 5 % down by end of 2005, then it will snowball through 2006 /07
maybe 25 -30 % by end of '07

Who knows after that, but I believe we will be in a deep recession for some years to come.

nelly_2

Right wasnt it rightmove or Halfax or someone who said " ftb's cannot afford to buy a house in 90% of British towns"

So how the hell can they keep going up????????

In fact, sod it!!!

Ive changed my mind I want them to go up further!!!!

Lets have saturation point, lets get to 100%, lets get to the point where no ftb can buy a house in the whole country.

deemy2004

nelly wrote:

Lets have saturation point, lets get to 100%, lets get to the point where no ftb can buy a house in the whole country.

LOL

All I see when I drive around is rows, and rows of tulips

So how much is a tulip worth ?

£50,000 ?
£100,000 ?
£150,000 ?
£200,000 ?

Its a mania pure and simple.. and as the economy slows the sentiment will change... sharply !

The only reason why its not plunged thus far, is because the Government / BOE has done a good job of running the economy.. but now on many areas things are starting to go out of control. I.e. we now have a slowing economy with rising inflation.. This is very bad ! and means that the main trend in interest rates is still UP , which is the opposite of what is required for a slowing economy.

I think by the start of next year we will be seeing rising interest rates as inflation starts to nudge beyond the 2.5% mark (CPI).