Halifax +2.6 % MoM

StevieJ

It seems that chart has become the equivalent of the Divine Proportions

Lotus-eater

lostinrates wrote: »

I find myself doing exactly this when property searching. I also find myself thinking our deposit is 'tiny', when its not, its a hell of a lot of money. I look at things and think '' thats only 100k out of ou budget, then caluslating what that wuld cost us monthly (not over the life of a mortgage) and it seems easy:o. In actual fact, 100k IS a lot.

I do that all the time, I "only" need another £200k and I could have exactly what I want, where I want. Doesn't seem very much, till you step away from the property pages and get back to real (working) life.

mewbie_2

I'm a bit confused because the bull trap we are currently in seems to be generating what you might describe as a bull blow-off phase.

ShelleyC_2

lostinrates wrote: »

I find myself doing exactly this when property searching. I also find myself thinking our deposit is 'tiny', when its not, its a hell of a lot of money. I look at things and think '' thats only 100k out of ou budget, then caluslating what that wuld cost us monthly (not over the life of a mortgage) and it seems easy:o. In actual fact, 100k IS a lot.

Oh the shame - two properties in my right move saved list are 150k above what my top figure is but find myself looking at them again and again

If I join the 70% club I can pretend I might get one of them :j

lostinrates

ShelleyC wrote: »

Oh the shame - two properties in my right move saved list are 150k above what my top figure is but find myself looking at them again and again

If I join the 70% club I can pretend I might get one of them :j

TBF what we can get for current budget HAS risen significantly already: and we are learning more what we are willing to be flexible about, and what we are not. The current agument with reality is ''only'' a couple of hundred thousand out of this year's budget, but is also, a couple of hundred thousand under next year's. Its silly, and shows how young professionals have helped sustain a ''rapid'' ladder buying model, IMO, unnecessarily.

An interesting example, is a property in a home county I was looking at when I was fairly new to the forum and a property that came on the market in the same road, over a year ago now...I can't be bothered to look up the links, but the first was a one bed bungalow with a habitation order and an acre and half, the second was a pretty enough, reasonable decor 3 beds? and three? acres (I'm erring to the smaller size of house and land because I honestly can't remmeber but it was not smaller than either of those guesses and could be larger ) for roughly the same price. The latter is obviously better prospect for the majority of people than the former.

nearlynew

ShelleyC wrote: »

Oh the shame - two properties in my right move saved list are 150k above what my top figure is but find myself looking at them again and again

If I join the 70% club I can pretend I might get one of them :j

Equally, the current owners are "pretending" that their house is worth 150k more than you can pay.

Are they any better or richer than you?

No, they just got in first and are trying to pass this 150k extra debt on to you.

keep working, keep saving and be patient.

Dan:_4

nearlynew wrote: »

Equally, the current owners are "pretending" that their house is worth 150k more than you can pay.

Are they any better or richer than you?

No, they just got in first and are trying to pass this 150k extra debt on to you.

keep working, keep saving and be patient.

If you cant afford it, you can't have it.

This applies to anything in life.

Dan:_4

fatpig wrote: »

More graphs please Graham, the bulls don't like them very much as they expose their lies.

Drawing a graph is easy. Justifying it is a little more tricky.

the_ash_and_the_oak

Dan: wrote: »

If you cant afford it, you can't have it.

This applies to anything in life.

totally agree w this. too many of the potential future owners over the next few years will be finding this out imo. owner occupier stats rise and fall over the years - but generally have risen, percentage wise, over the last century. not sure they can really go any higher. my feeling is we will see them reduce

nearlynew

Dan: wrote: »

If you cant afford it, you can't have it.

This applies to anything in life.[/QUOT

But those rules dont apply in a phoney economy though.

Which is what many people imagine we are still living in.