House prices are rising.

the.ciscokid

CloudCuckooLand wrote: »

Not more "round my way" rubbish.

Examples please.

He is talking out of his proverbial, especially around his way:

the.ciscokid wrote: »

These searches (use property-bee) would tend to oppose your theory:

Search 1

Search 2

Care to share your examples?

myhouse_2

Seems to me that prices are definitely and overwhelmingly going down though I'd like to see the evidence to the contrary - anyone (sibley) willing to provide a Rightmove search result showing this?

diable

crocks wrote: »

If Interest Rates rise then it depends by how much, bear in mind your average interest rate rise is small and only adds about £30-£40 a month to your average monthly payment.

We go by how big our monthly payment is, if we can survive on that then its fine. The panic sets in when people see "Big" interest rate rises and think its going to massively affect their mortgage payments, without doing the calculations first.

The danger is, the Panic (or a big rise) will trigger a mass of people wanting to sell quickly (or reposessions) and so as property availability increases, prices will plummet.

Interest rates came down every couple of months if they do the same when they rise in 9 months some people will see a rise of £200 and others even more. I wonder how many home owners will struggle then.

chucknorris

diable wrote: »

I wonder how many home owners will struggle then.

Certainly not I and I suspect many more to be in the same position. This period of low interest rates has been great (thanks), when rates return to normal levels I will leave a period of fantastic profit and return to normal profit. I imagine most mortgage holders will be in a similar position but of varying degree. I expect those that took out recent trackers with a hefty margin of about 1.5-2.5% over base to be most effected (but they will be very much in the minority and most would have been aware that rates would eventually go back up).