MSE News: House prices up at fastest rate for three years

makeyourdaddyproud

Now that I've exchanged, I want prices to go through the roof ... 2x in a year will do me, then I can sp1t at my employer at the time.

[Deleted User]

Not in the North they aren't!!!!

suze012

Not in the west coast of Scotland either, have just had to drop my house price again! loosing about 25% of equity just to move. Also our area seems to be swamped with first time buyer houses and no first time buyers about and then nothing really for the second time buyers to move onto..

makeyourdaddyproud

Suze012 wrote: »

Not in the west coast of Scotland either, have just had to drop my house price again! loosing about 25% of equity just to move. Also our area seems to be swamped with first time buyer houses and no first time buyers about and then nothing really for the second time buyers to move onto..

You live in an area with no larger stone or period family houses?

Scotland has a large supply of these grand homes.

SG27

Lord_Baltimore wrote: »

We have a Tory led Government. What else did you expect?

Well labour did a pretty good job of allowing prices to go through the roof dooming millions of youngsters to a lifetime of cripplingly high mortgages and rents.

Turnbull2000

Suze012 wrote: »

Not in the west coast of Scotland either, have just had to drop my house price again! loosing about 25% of equity just to move. Also our area seems to be swamped with first time buyer houses and no first time buyers about and then nothing really for the second time buyers to move onto..

Scotland is introducing it's own version of Help to Buy soon. Also, price growth North of the border generally lags the South by about 12 months.

So hang on in there. Scottish house prices should swing upwards by about 15% over the next 2-3 years.

I_have_spoken

Scottish house prices should swing upwards by about 15% over the next 2-3 years.

Nothing will move any way but down until 18th Sep 2014, then if it's 'yes' prices will slump 30%+

bitsandpieces

makeyourdaddyproud wrote: »

Now that I've exchanged, I want prices to go through the roof ... 2x in a year will do me, then I can sp1t at my employer at the time.

Not really, unless you're planning on downsizing - you'll still need to pay for somewhere to live, and rental and purchase prices of other properties will also have gone up.

ka7e

Barrett, Redrow and Taylor Wimpey are all selling houses through HTB in my area (Somerset). The coach house design, basically a 2-bed flat above 4 garages, sells for £135k with HTB. Exactly the same design (4 to 9 years old) can be bought for £112-115k. All the new builds locally seem to be advertised at inflated prices, much more than the "new build" premium would suggest.

Second-hand FTB properties are moving very fast. Anything under £150k has SSTC in the past month, even houses that have been on the market for months. There does seem to have been some panic buying in light of the news that prices are rising - even though those rises don't seem to have reached us yet. Maybe there is less room for negotiation on price now if sellers anticipate a bouyant market?

I'm following the market closely as my eldest son is ready to buy his first home. He had earmarked about 10 properties to view, went on holiday for a week and came home to find 8 had SSTC while he was away!

mail2z

One thing is the government proping up the prices with different schemes, the other things is lenders releasing report after report saying the house prices are increasing panicking people who are on the fence regarding buying. I haven't seen such frequent reports from lenders saying the prices are falling when the housing market has been falling in 2008-2009, they were unusually quite in those times.