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Buyers Are Rushing To Buy Properties Now - Times Newspaper Today

The Times Newspaper today reports that properties are moving really fast, even though Christmas is upon us.

http://property.timesonline.co.uk/tol/life_and_style/property/article6925244.ece

They say that one of the reasons people are rushing to buy now is that they've spent a big chunk of their savings on dead rent, and with the low interest rates they're seeing their savings diminish.

Most of the properties doing well are those in London and the South East, typical that.
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Comments

  • poppysarah
    poppysarah Posts: 11,522 Forumite
    How fab that the recession is helping people buck the usual house buying trends.
  • And then there will be no more renters going into owner occupier. What then?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • they've spent a big chunk of their savings on dead rent
    Why would people spend savings on renting? Rent is not dead money either, no more dead than interest on a mortgage.
    Happy chappy
  • I'm still not buying. No rush here.
  • Gwhiz
    Gwhiz Posts: 2,322 Forumite
    Part of the Furniture Combo Breaker
    House prices will decline in 2010 (Once the blip of demand>supply has gone) - about 12 months from now will be a great time to buy unless you can get an absolute again today.

    Just MHO
  • I'd of thought most people in the UK are more worried about fast rising living costs and keeping their jobs and hours than paying 150k + for an ex council house at the moment. I'm not buying either unless I see something suitable at a reasonable price. There is hardly anything on the market at the moment in the areas im looking at because of low interest rates and government schemes. I put a 20% lower offer in last week on a house priced at 2007 level (I still think my offer was alot more than the house was worth) and was rejected pretty much straight away by the estate agent before they had even got off the phone to me. People are still holding out for silly prices, especially now as theres not much available. I'm still looking though..
  • keith969
    keith969 Posts: 1,575 Forumite
    Part of the Furniture
    What? Estate agents saying buy, buy, buy? Who'd have thought it? :rotfl:
    For every complex problem there is an answer that is clear, simple and wrong.
  • Patr100
    Patr100 Posts: 2,710 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    keith969 wrote: »
    What? Estate agents saying buy, buy, buy? Who'd have thought it? :rotfl:

    Exactly! Nothing new to see here just selective EA's given the usual easy ride to talk up business thinly disguised as reporting.
    See free advert on page for expensive property they haven't been able to flog

    Oh and apparently "Chelsea is popular" -

    mind numbing stuff...
  • Why would people spend savings on renting? Rent is not dead money either, no more dead than interest on a mortgage.


    Rent is dead money, you'll never get it back. Whereas with a repayment mortgage part of your monthly payments is going towards you BUYING and eventually owning the place. After 25 years of paying rent the property will NEVER be yours, but after 25 years of paying a mortgage (which will be peanuts with inflation compared to rents) you will own the house ouright! It will be yours!:j
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rent is dead money, you'll never get it back.
    I've just rented for the past 2½ years. I could have bought one of these for £75k then, if I had done that I'd be selling it now for £50k. Add on the cost to buy/sell (£2k) and service charges over that time (£1k)... and I'm quids ahead.

    Not everybody can stay in one place for 25 years, life's too changeable.
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