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Debate House Prices
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To Buy or Wait?
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No, prices currently falling in I think it's 81% of postcodes.
If the OP wishes to buy in central London, she might not be advised to wait, as sterling crashes. But outside London, price falls are the general picture at the moment, as you well know.
No, it's not just a London thing carol, as you well know.
Prices currently rising in 9 out of 12 regions of the mainland UK.
http://uk.reuters.com/article/idUKLNE64A01E20100511Prices rose in all regions except for Wales and Yorkshire and Humberside.
And prices have risen significantly since the early 2009 trough in every one of the regions of the mainland UK.
So unless you have a source for your 81% figure, and can prove that there has been no recovery in 81% of the UK and prices are still falling, I'd suggest you retreat back to La-La land.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Hamish none of your figures tally with the land registry numbers.
Land Registry is + 7.5% YoY.
Nationwide is + 10% YoY.
LR lags several months behind Nationwide, and includes cash buyers and the discounts they certainly get for being able to proceed quickly.
For the average mortgage buyer, Nationwide is accurate enough.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Suspect Carolts figures come from Hometrack. The only way of knowing whats is really going on in ones postcode is to do your own research. Ie get out and view properties see how quickly they sell and for how much.
Why anyone would want to take advice from a forum where everyones opinion is mainly based on their own vested interest i have no idea.0 -
The thead can be summarised as follows;
If you want/need to buy a house. Make sure you get the right house for at the right price.
Ensure it's something you won't be forced to sell (for whatever reason) in a couple of years. As prices generally won't be rocketing over the next couple of years.
And most importantly be able to afford the monthly repayments in the event of a change of IRs. Or for a short term without any income.
Any other bollox about a house being worth 20% more in 3 months time, and boats being missed should be disregarded as bull."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
Suspect Carolts figures come from Hometrack.
Hometrack said prices were rising in 19% of postcodes in England and Wales last month. This month has not been released yet. And it didn't specify how many areas had seen falling prices, versus stagnation.
So carol couldn't possibly know if prices were falling in 81% of the UK, as Hometrack didn't release that data.
RICS state prices are rising in 9/12 regions this month though.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
do you not also mean to say that anyone telling you that a house being worth 20% less in 3 months time is rollox too?The thead can be summarised as follows;
If you want/need to buy a house. Make sure you get the right house for at the right price.
Ensure it's something you won't be forced to sell (for whatever reason) in a couple of years. As prices generally won't be rocketing over the next couple of years.
And most importantly be able to afford the monthly repayments in the event of a change of IRs. Or for a short term without any income.
Any other bollox about a house being worth 20% more in 3 months time, and boats being missed should be disregarded as bull.0 -
Harry_Powell wrote: »
To the OP I'd say that the possible small losses or gains from buying now or waiting for 12 months are far outweighed by the happiness gained from having a stable home for you and your children.
I think the children have been totally forgotten in all the waffle and argument about prices! It was the child's school place that was the prime motivation behind the OP waiting rather than buying now.0
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