Now property sales are rising - the best feeling of owning your first home

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StevieJ wrote: »

You obviously didn't read Gens post

Mmmmm, I do that sometimes, need to slow down a bit I think.

lostinrates

Generali wrote: »

(and realising a boyhood dream while I was at it - I'd always wanted to live in the Barbican.
.

Well, I've finally found someone who admits it. :rotfl::rotfl:

StevieJ

Generali wrote: »

For those who are wondering, I sold up for a small profit, bought a flat which I did up and sold before renting in the Barbican (and realising a boyhood dream while I was at it - I'd always wanted to live in the Barbican.

I am now in Sydney living the life of Riley's poorer cousin.

The obvious sock puppetry connection hasn't passed me by. Especially our friend with 10 posts and a knowledge of where I live.

Never mind Riley's cousin you may need to emulate Ned Kelly if you don't get the dream job soon

inspector_monkfish

rumbaba wrote: »

Not sure these days where to put property posts so thought I'd paste and copy this onto here too.

It's been all over the news this morning, and in the papers that house sales have gone up by 12% in the last month and that sales are up by 20% since this time last year.

Obviously, the property market is slowly starting to recover as was expected by many (except the ones who were hoping people would have to give them away! LOL)

One quarter of the buyers are first timers and it must be so exciting for them to know that they've finally managed to get on the first rung of the property ladder, and that they're on their way to owning their very own home!

When we first married many years ago and found our first real home it was a mixture of excitement and nervousness. We did struggle at the beginning, we had bare floorboards for a couple of years - strange how they're trendy now HA HA! and then we got wall to wall carpeting and felt like we were millionaires!

Every little thing we did to our house was so gratifying and exciting. Deciding on which colours to paint it, wallpaper patterns, plants for the garden. I remember our first party too when it was finally done up after about 3 years. We invited all our family, friends and neighbours and had a fab party and oh how we swooned over our avocado bathroom suite!!LOL Seems funnt to look back on, but boy, buying your first home is the best feeling in the world!

Property market is NOT turning back up. No way.
All these upbeat reports are coming from the likes of Rightmove, who are simply talking up their own book!

I got chatting with a local estate agent a couple of days ago.
He told me that nothing is shifting, and 95% of their current business is rentals.

This is from a long established local estate agent in the area i live. One with a very respectable name.

He didnt even try to sugar coat anything. Just told it as it is.

Generali

StevieJ wrote: »

Never mind Riley's cousin you may need to emulate Ned Kelly if you don't get the dream job soon

Well I've got a second interview on Monday to be a mortgage broker (and from what my 'insider' has told me, the job is mine to lose) and all I have left between me and a job offer to be a train driver is a drugs test and criminal record check (who knew you'd need a record to drive a train?) so things are looking up.

Oh, and rather worryingly for the next generation of Aussie economists, a professor at one of the Unis in Sydney has asked for my CV. I'm not sure academia is ready for my brand of pragmatic Libertarianism but he seems jolly keen. I'll either destroy Australian economics for a generation or become the bedrock of the 'Sydney School' of economists depending on your viewpoint.

chucky

inspector_monkfish wrote: »

Property market is NOT turning back up. No way.

no way??? - where can i get crystal balls like yours?

inspector_monkfish wrote: »

I got chatting with a local estate agent a couple of days ago.
He told me that nothing is shifting, and 95% of their current business is rentals.

This is from a long established local estate agent in the area i live. One with a very respectable name.

He didnt even try to sugar coat anything. Just told it as it is.

i'm sorry to hear that your local market isn't selling.
houses local to me are moving at a reasonable pace for those at the right prices.

local predictions are one thing but regional and national are totally different. so when you say "no way" are you trying to talk down the market?

JayScottGreenspan

rumbaba wrote: »

Not sure these days where to put property posts so thought I'd paste and copy this onto here too.

It's been all over the news this morning, and in the papers that house sales have gone up by 12% in the last month and that sales are up by 20% since this time last year.

Obviously, the property market is slowly starting to recover as was expected by many (except the ones who were hoping people would have to give them away! LOL)

Think of the state of the housing market as a point on a spectrum. At one end we have +20% YoY growth and 120,00 mortgage approvals a year. At the opposite end of the spectrum we have -20% YoY falls and 35,000 mortgage approvals a year.

The market is in the process of moving from the -20% YoY / 35,000 approvals zone to the -10% YoY / 50,000 approvals zone.

We are nowhere near 0% YoY / 70,000 approvals territory. And any sort of nominal growth in house prices is out of the question for a very long time.

Starting to recover...? Or crumbling at a slower rate?

inspector_monkfish

chucky wrote: »

no way??? - where can i get crystal balls like yours?



i'm sorry to hear that your local market isn't selling.
houses local to me are moving at a reasonable pace for those at the right prices.

local predictions are one thing but regional and national are totally different. so when you say "no way" are you trying to talk down the market?

just straight from the horses mouth my friend
no crystal balls involved!

this is from a fairly affluent area, just outside london, that has always had a high turnover of house sales

one that can easily be compared with the rest of the country


just dont think people should start getting carried away
house prices are still way to high

robin_banks

No way can it be recovery, not a chance. The level of national debt is now frightening, the economy is in a period of deflation. The growth forecasts announced in the budget appear to be wildly optomistic.

Those houses that are shifting will be 'priced sensibly' or repossesions.

chucky

inspector_monkfish wrote: »

just straight from the horses mouth my friend
no crystal balls involved!

this is from a fairly affluent area, just outside london, that has always had a high turnover of house sales

one that can easily be compared with the rest of the country


just dont think people should start getting carried away
house prices are still way to high

my point was and still is that your local area isn't a reflection of every single area in the country as you've said again "one that can easily be compared with the rest of the country". it just isn't the case and is nonsense.

if you believe this i can only think that you want to talk down house prices.

you may suggest that i'm talking up prices but i'm not my view is that national house prices have another 5-10% or even 15% drop in them to to a total drop of under 30%