How much is your house worth?

dopester

Lucyeff wrote: »

It might just be regional, I have no idea but would be interested to know if it's different in any other areas.
Luce

Apparently it is everywhere but Banstead in Kent, and most of Scotland, especially Aberdeen.

Any maybe a few other enclaves where people believe their house is too special to fall in price.

Lizbetty

dopester wrote: »

Apparently it is everywhere but Banstead in Kent, and most of Scotland, especially Aberdeen.

Any maybe a few other enclaves where people believe their house is too special to fall in price.

That's the problem isn't it! You've hit the nail on the head there. I was slightly disconcerted at being told our house is worth so much less, because it's our home. It's much nicer to be told it's worth £20/30k more as we were a couple of years back! But then it also means the house we'd be looking to buy is also less, etc, etc. So it's swings and roundabouts for us, I consider us lucky to be in this position really as it doesn't actually affect us so much. Apart from our ego being slightly dented, lol!

Dithering_Dad

dopester wrote: »

Thanks. However I can't fully agree with you on that theory, (wages and a host of other external factors don't look positive to me going forward) but lets not argue it on this thread.

I understand where JP is coming from here, even if your mortgage is small you still have to have the motivation to pay it down faster than just letting it run full term. Even the highly motivated people on the MFW board, especially those in the MFi3 group are finding it a real drag to keep overpaying, especially when this diverts money from other things like doing up the house/garden, etc.

I'm sure it's much more motivating though to pay down a £100k mortgage that it would be to pay down a £150k one. You're already £50k ahead of the game. Though more likely one may still get a £150k mortgage but be able to buy a much larger home. It's all down to the individual and their own motivations.

kingkano

Great article and it articulates alot of my thoughts. Except it doesnt mention that HBOS + Nationwide total share of mortgages is only 30%. split it 50/50 that means each index is based on only 15% of the mortgages. Take into account sales where a mortgage is not involved and I reckon it could be as low as 10%?

Sadly even though these 'indices' have such a tiny share of actual data they are held aloft as the be all and end all, by media, people on these forums, etc. And yet the actual only true indicator (land registry data) is rubbished by all....??? I know it lags Nationwide/Halifax by some time but still.... I don't get it?

justpurchased

This is the first post I have seen where every one accepts each others points, and values each others opinions. Even if we do have conflicting ones it is not a reason to abuse each other, after all we gain knowledge and understanding from it..:T :beer:

Lizbetty

justpurchased wrote: »

This is the first post I have seen where every one accepts each others points, and values each others opinions. Even if we do have conflicting ones it is not a reason to abuse each other, after all we gain knowledge and understanding from it..:T :beer:

I agree! Long may it last (fingers crossed!)

Dithering_Dad

Lucyeff wrote: »

I agree! Long may it last (fingers crossed!)

Perhaps it would be a good idea if the regular members of the housing forum emulated Generali's plea in another thread and we simply all post "Can you please take your argument offline and use the PM system, as you are disrupting the thread".

If enough people did this, then even the most bloody minded posters would get the message. Though I do feel that some people use disruption as a distraction tactic when some one with an opposing viewpoint makes a great point and undermines them. Suddenly the board erupts in personal attacks and the great point is lost - a victory for those without the wit to press their case in a logical manner.

justpurchased

Dithering_Dad wrote: »

Perhaps it would be a good idea if the regular members of the housing forum emulated Generali's plea in another thread and we simply all post "Can you please take your argument offline and use the PM system, as you are disrupting the thread".

If enough people did this, then even the most bloody minded posters would get the message. Though I do feel that some people use disruption as a distraction tactic when some one with an opposing viewpoint makes a great point and undermines them. Suddenly the board erupts in personal attacks and the great point is lost - a victory for those without the wit to press their case in a logical manner.

I agree if you think I am OT tell me! but I do think I try to make valid points, just not one that may be agreed on by the majority on here.
But they should not be viewed as confrontational or a reason to abuse me.

PS this is OT.:rotfl:

Dithering_Dad

justpurchased wrote: »

I agree if you think I am OT tell me! but I do think I try to make valid points, just not one that may be agreed on by the majority on here.
But they should not be viewed as confrontational or a reason to abuse me.

PS this is OT.:rotfl:

"Can you please take your argument offline and use the PM system, as you are disrupting the thread".

LilacPixie

I'm in East Scotland. 2 bed flat bought in 2002 for 31k, old stone build building, big rooms. remortgaged in 2005 for 40k value then was apparently 60k according to the surveyor. Used that to rewire and add central heating plus new windows. Flat in next building same position and size as mine sold for 117k in may 2008 and in the street there are another 3 for sale. two are o/o 120k and another is fixed at 107k. but needing 'modernisation' :eek: :eek:.

Up here very few houses are dropping in price but hardly anything is moving. I think its because properties here are still realistically priced in comparison to salarys especially joint ones, FTB however are too used to being able to access lots of 100% mortgages so very few have a decent deposit. Personally I do think scotland will soon see drops in prices but they will be minimal. Stagnation of the market while FTB's build up deposits will be more longterm I think.

My sister is a whole of market mortgage advisor and she says that alot of FTB contacting her office are looking for 100% some may have a small amount saved for moving costs some even look for more to cover fees and moving costs. Total stupidity IMO.