Land Registry MoM -0.9 % YoY - 3.2 %

crash123

RenovationMan wrote: »

Yes, but how many of those who bought in 1995 knew they were buying at the bottom? You don't know, except in hindsight, which kinda proves my point. Instead of worrying about national or regional falls, hitting the bottom or worrying about further falls after you buy; just buy when the time is right for you, based on the area you want to buy into, the type of house you are looking for and the amount of money you can afford.

All this analysis about the average house price and the average salary, bell graphs, LTV ratios is just B*ll*cks. I bought a house in 1995 because it was the right time for me and because I found the right house. I bought in 2002 because it was the right time for me and the right house, I bought in 2009 because it was the right time for me and the right house. I'll buy the next house at the right time for me and the right house.

Surprisingly, the right time for me had nothing to do with bell graphs, charts, discussions on obscure websites and everything to do with my finances, and everything to do with the criteria I have already listed.

I could have bought in 1989 but I knew houses were over priced and waited until 1993, not quite the bottom but the right time for me.
Now is not the right time if you are a FTB.

neverdespairgirl

Pimperne1 wrote: »

London up annually and the South East down only 1.4% over the year (and up month on month). Two different markets here - London and the South East (doing rather well actually) and the rest (doing abysmally).

SE is down 1.4%, with inflation at 5%. That doesn't look as if it's "doing rather well actually" to me.

ukcarper

The average semi in the south east is £3000 less than it was in Oct 2010 rent for that year would be at least £10k so not much point putting life on hold you might just as well buy and get on with your life after all houses would have to drop 5% a year to cover rent.

ess0two

ukcarper wrote: »

The average semi in the south east is £3000 less than it was in Oct 2010 rent for that year would be at least £10k so not much point putting life on hold you might just as well buy and get on with your life after all houses would have to drop 5% a year to cover rent.

Hey stop being so sensible

Pimperne1

neverdespairgirl wrote: »

SE is down 1.4%, with inflation at 5%. That doesn't look as if it's "doing rather well actually" to me.

Oh, I think I get you, prices are way down in "real" terms.

brit1234

EXTERMINATE_THE_GHUOLS wrote: »

With the lowest interest rates in the history of time and rampant inflation eating away at those deposits now is most certainly the time for FTBs to act. Or risk forever being locked out the market. As for this index, I prefer to listen to what I'm seeing and hearing on the street level, and that is that houses are selling, achieving pretty much asking prices.

How can rampant inflation be eating away at deposits in a falling market?

I don't care if train journeys and lip stick costs are up, it doesn't affect my deposit. The only thing which matters is the inflation of housing against it and that is negative.

Yes there are ways to make your deposit work harder, keep changing to best monthly high interest accounts, gold & silver.

No rush to buy with the rate of price falls. Lets hope we can get a few more neg figs from London which will indicate the foreign property byers are drying up. Then the national fall figures will be much bigger.

mcc100

MrRee wrote: »

This time it's very different ... it should be worse, but isn't - and I don't quite understand why.

It isn't worse because interest rates have been at a 300 year low for the last 30 months ...... and consequently forced sales have been low.

mcc100

MrRee wrote: »

And, the BIG one - the BTL Landlord was unheard of .... this is the difference - and why there is a floor under which prices cannot fall ... and why a crash won't happen.

Are you able to enlighten us as to what is the figure for the floor under which prices cannot fall?

Aberdeenangarse

EXTERMINATE_THE_GHUOLS wrote: »

I prefer to listen to what I'm seeing and hearing on the street level, and that is that houses are selling, achieving pretty much asking prices.

Perhaps that's because you're usually pis sed

neverdespairgirl

ukcarper wrote: »

The average semi in the south east is £3000 less than it was in Oct 2010 rent for that year would be at least £10k so not much point putting life on hold you might just as well buy and get on with your life after all houses would have to drop 5% a year to cover rent.

I just don't get this idea that renting is "putting your life on hold".

OH and I have bought our first place this year. We're pleased we've done so. But the time we've spent renting has been just as much part of our lives as the time now we've bought is.