News that House prices rise, worried for FTB.

drbraindead

I am in the process of saving for a deposit (10%) and hope to buy around March next year,

I am only aiming to buy a house for around 50 - 60k in NE Lincolnshire.

But hearing the news today that house prices are on the rise, will I still have time to get a property for the price I'm aiming for.

I am rappidly saving as much as I can, but worry about missing out.

Anyone else feel like this?

cheers guys

System

http://forums.moneysavingexpert.com/showpost.php?p=31662349&postcount=19

TruckerT

drbraindead wrote: »

I am in the process of saving for a deposit (10%) and hope to buy around March next year,

I am only aiming to buy a house for around 50 - 60k in NE Lincolnshire.

But hearing the news today that house prices are on the rise, will I still have time to get a property for the price I'm aiming for.

I am rappidly saving as much as I can, but worry about missing out.

Anyone else feel like this?

cheers guys

Clearly, you have seen the obvious flaw in the government's attempts to distort the housing market. I wish you well, but I have little hope for people in your position.

TruckerT

Jack_Johnson_the_acorn

TruckerT wrote: »

Clearly, you have seen the obvious flaw in the government's attempts to distort the housing market. I wish you well, but I have little hope for people in your position.

TruckerT

Completely ridiculous, a £60k house is hardly going to increase by much.... if it goes up by £10k the buyer would only need an extra £700 deposit.... if the buyer can't afford that then shouldn't be purchasing property!

TruckerT

Joeskeppi wrote: »

http://forums.moneysavingexpert.com/showpost.php?p=31662349&postcount=19

I get your point, but it would be interesting to see a similar spreadsheet covering people who can only manage to save £50 per month, and whose shopping bills continue to increase way in excess of their income.

TruckerT

Jack_Johnson_the_acorn

TruckerT wrote: »

I get your point, but it would be interesting to see a similar spreadsheet covering people who can only manage to save £50 per month, and whose shopping bills continue to increase way in excess of their income.

TruckerT

should they really be buying a home if they only have £50 spare per month....

l would argue that they should not and Im sure the banks would agree.... my HH has £1k spare per month and i don't feel like we have an excessive amount of spare cash.

System

Why stop there, I can make you one for people that save 15p a month and only eat caviar if you like.

TruckerT

Jack_Johnson_the_acorn wrote: »

Completely ridiculous, a £60k house is hardly going to increase by much.... if it goes up by £10k the buyer would only need an extra £700 deposit.... if the buyer can't afford that then shouldn't be purchasing property!

What? A 60k house? Where's that then? A 15% increase in property prices is beyond anyone's wildest dreams/nightmares (unless you're in the fracking industry, bringing employment to the desolate north).

TruckerT

drbraindead

I think that the price I will be aiming for could be an extra 10-20k as the house prices are fairly low where I am.

I would like to spend as little as possible within reason of living in a half decent area though.

Buying a property down south or a high value are seems almost impossible to me.

ukcarper

It's not always about the deposit sometimes it's about the size of mortgage you can get.

System

Cor, some bullish people here.