MSE News: Land Registry reports further house prices rise (up 1.7%)

soulsaver

I'm a pragmatist - '...what it is, it is'. I don't profess to forecast, so from my vantage point on the fence I would say the following: I'm not surprised re the rise, all the local obvious bargains had sold signs nailed up in June & July. So buyers did return.

However several of those properties that for certain completed but haven't appeared in the Govt figures.

Why not? Because they ignore both auction results and repo sales.

I am also aware that bank repos locally are now being let rather than sold - to avoid a tidal wave of repossessions hitting the market at the same time. This has squeezed rental values lower putting more pressure on recent BTL landlords.

Bake into that artificially low interest rates; rising job losses, unwinding govt support in repos, and I'm not confident about sustainability.

My twopennyworth. Be lucky.

System

Just found this

http://www.furnessbs.co.uk/mortgages/firsttime.html

Maybe it's not too late for some after all 90% LTV, 4.94%, £699 fee!

*removes tongue from cheek*

b0rker

Joeskeppi wrote: »

Epic ramp on bbc
House prices rise most in 5 years
http://news.bbc.co.uk/1/hi/business/8226416.stm

Now THAT is a site that 90% of UK potential home buyers will read.

I can imagine a lot less will be reading the negative comments on this site or HPC.

I find it ironic that the bears on this site seem to be able to ignore the fact that the whole of the British population are totally obsessed with owning their own home when the bears themselves are at the very pinnacle of this obsessiveness. Otherwise they wouldn't spend their whole lives on here talking down the UK housing market as if it makes any kind of difference whatsoever.

This obsession is what will keep house values high in this country.

My name is B0rker. I am a housing market obsessive.

Jonbvn

b0rker wrote: »

....the whole of the British population are totally obsessed with owning their own home......

Whatever way the property market moves, it is clear that a lot of people are verging on OCD wrt property. The question I want to know the answer to is WHY?

Lotus-eater

Jonbvn wrote: »

Whatever way the property market moves, it is clear that a lot of people are verging on OCD wrt property. The question I want to know the answer to is WHY?

I think alot of it is money, simples.

But also the fact that owning your own home is so agreeable here in the UK, most rents are short and not safe, not a nice way to live for a family.

StevieJ

Lotus-eater wrote: »

I think alot of it is money, simples.

But also the fact that owning your own home is so agreeable here in the UK, most rents are short and not safe, not a nice way to live for a family.

For me it is part of the pension equation.

Pension from annuity/final salary etc xxxx
Pension from state xxxx
No rent on house xxxx

mewbie_2

Jonbvn wrote: »

Whatever way the property market moves, it is clear that a lot of people are verging on OCD wrt property. The question I want to know the answer to is WHY?

It's the most expensive thing most of us will ever purchase. The bubble, and subsequent crash are times when a "life changing" sum of money can be gained or lost be a wrong decision.

For a fair amount of people on here though, it is secondary to scoring one over the other side.

bluey890

mewbie wrote: »

It's the most expensive thing most of us will ever purchase. The bubble, and subsequent crash are times when a "life changing" sum of money can be gained or lost be a wrong decision.

For a fair amount of people on here though, it is secondary to scoring one over the other side.

For most gents ... it's the wife.

(honey, if you're reading this, it was a joke)

chrishoar

What does everyone think about the fact we paid off more debt than we acrued in the last month? Does anyone see what that is indicating?

Harry_Powell

chrishoar wrote: »

What does everyone think about the fact we paid off more debt than we acrued in the last month? Does anyone see what that is indicating?

That people's mortgage are quite low, but that their unsecured debts are probably quite high, so they're using the low mortgage windfall to pay off more expensive debts?

Alternatively, their savings rates are quite low so they're paying down mortgages because it's a better return than having money in the bank?

It's what good old Martin Lewis advises.