Rightmove: Buying Window is next 12-18 months

DaddyBear

chucknorris wrote: »

I don't really mind missing the bottom of the market, because last year was bad for rentals, the rental market seems to have picked up significantly now though, at least in London anyway. I'm not sure why it has picked up, maybe quite a lot of 'accidental landlords' have now sold (or selling).

I've noticed that too. In 2009 the rental Market was dead. We rented a house for £900pcm. When we moved out at the start if the year it was put back on for £1150pcm and let out within a week!

split_second

i bought when it suited me

early 2009 as it happens.

what are the average price figures for then and now, do we know?

nembot

HAMISH_MCTAVISH wrote: »

Indeed.

Good for landlords as rents are increasing much faster than wages almost everywhere.

I laughed a lot... :rotfl:

The_White_Horse

yeah there are literally hundreds of thousands of ftb on 18k a year just waiting to snap up that 180k piece of overpriced trash flat for 10x their salary - even though banks will only lend them 63k

The_White_Horse

i am neither a bear nor a bull. i have no vested interest. however, i think it is clear to anyone with a brain that prices are too high. people just have high expectations about what they think they should get for their house. today, i saw a new build 3 bedroom house. In reality it should be worth 500k. In the insane mind of the seller it is on for 1.6m. i don't know who is more insane, the seller or any !!!! that actually buys it for that. even in the over inflated moronic house price world we live in 900k-1m would be pushing it. and as i always say, who can afford semi's for 650k????? even people in their late 30's early 40's with 200k deposits would still need 450k mortgages. only those with massive massive equity can afford these houses and they won't sustain the market forever unless new money is injected.

they have to come down. it is that simple.

Dan:_4

The_White_Horse wrote: »

yeah there are literally hundreds of thousands of ftb on 18k a year just waiting to snap up that 180k piece of overpriced trash flat for 10x their salary - even though banks will only lend them 63k

A singleton earning a measly 18K should not be thinking about home ownership.

Graham_Devon

Dan: wrote: »

A singleton earning a measly 18K should not be thinking about home ownership.

Quite. Much better all round if the investor buys up the 1 bed flats and rents it to the singleton's. A worthy service indeed.

Cleaver

Graham_Devon wrote: »

Quite. Much better all round if the investor buys up the 1 bed flats and rents it to the singleton's. A worthy service indeed.

To be fair though, that is a better scenario, isn't it? If I were single and my wage was £18k a year I wouldn't be thinking about buying a property on my own. Because I clearly couldn't afford one.

The_White_Horse

Cleaver wrote: »

To be fair though, that is a better scenario, isn't it? If I were single and my wage was £18k a year I wouldn't be thinking about buying a property on my own. Because I clearly couldn't afford one.

you could though, if it cost 55k.

nearlynew

A couple with 50k saved up could not afford a deposit on a 200k house but the same 50k would be ok as a deposit on a 150k house.

As prices keep falling, eventually it comes within reach.