When will interest rates rise?

shortchanged_2

RenovationMan is obviously one of lifes gamblers the sort of 'win big - lose big' type.

I have a feeling RenovationMan is actually Nick Leeson.

His fly by the seat of his pants gambling may well have paid off this time but it could of all gone horribly wrong if interest rates had gone up sooner. And I think it's more by luck rather than judgement.

shortchanged_2

StevieJ wrote: »

BTW my example was a 3 bedroom semi, one of those Barratt Wimpey type ones.

Is that in Merthyr Tydfil by any chance?

StevieJ

Graham_Devon wrote: »

3 bedroom semi, 100k?

You must live in an area with outstandingly lower value housing then.

If you actually read the post you may notice that the house price I was was quoting was £120k, oh BTW I live in a lovely city and fortunately it is in the North

ukcarper

Just did a quick search seems there are quite few new 3 beds below £120k withing 40 miles of manchester.

HAMISH_MCTAVISH

ukcarper wrote: »

Just did a quick search seems there are quite few new 3 beds below £120k withing 40 miles of manchester.

Heaps of terraced houses for between 50K and 120K all over the north of England, large parts of the Midlands, Wales and Scotland.

In fact, pretty much everywhere in the UK you can find cheap housing within a one hour commute of the major employment hubs, except perhaps the southern third of England....

StevieJ

shortchanged wrote: »

Is that in Merthyr Tydfil by any chance?

Not quite, apparently our university is 6th on the popularity list for student applications something like 16 applications for very place, not bad considering it wasn't even a university until recently.

purch

Thursday !!! :eek:

StevieJ

StevieJ wrote: »

Not quite, apparently our university is [STRIKE]6th [/STRIKE]on the popularity list for student applications something like 16 applications for very place, not bad considering it wasn't even a university until recently.

I was wrong there, just checked it is actually 4th

http://www.prospects.ac.uk/university_profile/university_of_chester/id/89792

"The picturesque Roman city of Chester is one of those places that outsiders probably always expected to have its own university" (The Times)

I think part of reason for disputes on here is that people seem to think the whole country has the same profile as where they live personally

shortchanged_2

I just looked at some properties in Chester on rightmove StevieJ. Prices seem to have dropped quite a lot there over the past few years.

I always remember Chester as being quite an expensive place to buy a house.

vivatifosi

Graham_Devon wrote: »

http://www.mortgagestrategy.co.uk/housing-market/cost-of-average-ftb-home-increases-seven-fold-in-a-generation/1029472.article

With the average age of FTB's around 32. Maisonettes just simply won't work for them. I do get what you are saying, but in reality, a mainsonette would be a complete waste of time.

Sorry Graham, I'm not getting it. Surely if they are buying at 32 because they want a house - which they are clearly doing to buy at that price - then why wouldn't they buy their first place a few years earlier for a lower amount and trade up when they need a house.

I'm not a house price follower tbh, more interested in discussing the economy, I just don't understand why people feel priced out and then expect to move straight into a house with several bedrooms. Surely you'd get a flat in your twenties and then move up to something bigger in your thirties.