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***Buy a house*** ... *** House Prices Set to rise***

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***Buy a house*** ... *** House Prices Set to rise***

edited 30 November -1 at 12:00AM in House Buying, Renting & Selling
17 replies 10.1K views
Robert_Sterling_3Robert_Sterling_3 Forumite
7.1K posts
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edited 30 November -1 at 12:00AM in House Buying, Renting & Selling
In april 2006 pension rules are changing.
Not only will you be able to but to let with pension fund money ...
... but you will even be able to buy your own home from yourself ...
... and then rent it from your pension fund.
I kid you not ...
Several other major pension changes are coming in 2006.
e.g. Up to 100% of salary can be put into your pension fund in one year subject to the pot not exceeding an index linked 1.5 million pounds ( 1.8 Million by 2010 ).

Thgis will increase the demand for property.
...............................I have put my clock back....... Kcolc ym
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Replies

  • once again robert i think you are right, combine this with the usal spring rises due to ftbyrs getting married and moving onto the ladder prices will im sure rise again, in some areas this is happening already.
    my bark is worse than my bite!!!!!!!!
  • For most, this won't be an option.

    From http://property.timesonline.co.uk/article/0,,14050-1430976,00.html:

    Pension schemes will be able to borrow only 50% of the value of their existing assets to buy property, so you would need a fund of £100,000 to buy a typical property worth £150,000 in April 2006.

  • I think its wishful thinking..

    For if the stock market continues to improve and house prices continue to drift.... then the traffic of money is going to be one way.... out of housing and into stocks.
  • dougk_2dougk_2 Forumite
    1.4K posts
    once again robert i think you are right, combine this with the usal spring rises due to ftbyrs getting married and moving onto the ladder prices will im sure rise again, in some areas this is happening already.

    I agree... The prices here have increased back to the prices they were last August/September - and I expect them to go up more.

    The housing market followed typical spending over the run up to christmas.

    Despite what I have read elsewhere in terms of smaller houses/flats it is in my opnion still cheaper to buy then rent and there are still BTL investors purchasing property in this area (we were approached by two when selling but didn't want any leasehold properties)
  • Your wrong.

    Since interest rates have gone up, the housing market has slowed, and with a interest rate rise due around May AFTER the election, then watch house prices go down, although they shouldn't crash as they did years ago.

    Maybe you need to read **Don't Buy A House** House Prices Set To Crash!!! - http://forums.moneysavingexpert.com/showthread.html?t=5377
  • Dream on mate !!!!! i remember people like you saying "hold tight" when the stock market dropped 500 points off its peak of 7000 + a few yrs back, it ended up at 3500 !!!!, most of us have property, like me, get real, prices are unsustainably high......PERIOD !!!!
  • dougk_2dougk_2 Forumite
    1.4K posts
    I don't see what all the fuss is about.
    There are still many of us if we are sensible and cyut back on luxuries that can afford houses.... depends if you throw money away on rip off cars, expensive holidays and other non-essentials.
    Personally I think to spend over a couple of grand on a car is stupid and a total waste of money.... very few cars go up in value ..... usually drop rapidly so whats the sense in spending money on one... Houses well in the end they always increase in money. Crashes recover then prices rise above the crash low.
    I see house prices in 10 years time being higher than they are now... a ford focus bought now will be 800% lower in value!
  • kebabkebab Forumite
    12 posts
    I know these forums are alll about opinions but credit-card-tart you are presentiing opinion as if it were fact.

    "..interest rate rise due around May AFTER the election." Your reference to the election suggests government inference in rate decisions where there is none, the Bank of England decide autonomously. In addition, inflation is under control (including house prices) and retail sector results are suffering. Both of these factors make a rate hike unlikely.

    Bottom line is that while demand for houses remains, there will be no major price correction or crash. The factors likely to trigger a crash, a big increase in unemployment or a SIGNIFICANT increase in interest rates are simply not there.
  • PhonixPhonix Forumite
    837 posts
    although that shouldn't crash

    that's what they always say.
  • kebabkebab Forumite
    12 posts
    Who is they?
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