House prices going up quicker than I can save a deposit :-(

HAMISH_MCTAVISH

allthingsmustpass wrote: »

This is why the rises aren't sustainable. .

Well, at least now you admit they're rising.

This is what you were saying 12 months ago....

allthingsmustpass wrote: »

I don't think prices are going to go up, I don't see how. .

Yet here we are with average prices up 8.8% since then, and someone who followed your advice to "rent rent rent" over the last year would be significantly worse off than had they bought.

allthingsmustpass

HAMISH_MCTAVISH wrote: »

Well, at least now you admit they're rising.

This is what you were saying 12 months ago....



Yet here we are with average prices up 8.8% since then, and someone who followed your advice to "rent rent rent" over the last year would be significantly worse off than had they bought.

Average. It varies across the country. London skews the result.

And significantly worse off? How about the costs of buying, the loss in interest payments on a deposit held in a savings account instead, the fact that to realise any gain you must sell at this spurious average increase with associated costs etc etc etc etc etc etc etc etc


You keep popping up on these threads with very illogical sweeping statements about ever rising property values forever and ever and ever! As though that makes any sense.

This religion of yours is utterly bizarre and you should fear for your mental health.

AndyGuil

allthingsmustpass wrote: »

Average. It varies across the country. London skews the result.

And significantly worse off? How about the costs of buying, the loss in interest payments on a deposit held in a savings account instead, the fact that to realise any gain you must sell at this spurious average increase with associated costs etc etc etc etc etc etc etc etc


You keep popping up on these threads with very illogical sweeping statements about ever rising property values forever and ever and ever! As though that makes any sense.

This religion of yours is utterly bizarre and you should fear for your mental health.

Manchester is the highest riser at the moment. Most areas are rising, many strongly now. The demand is strong. Loan to earning ratios are low at the moment too.

GoldenShadow

I know this is like how long is a piece of string

But if people believe prices may drop after the election, how short or long term do you suspect we could be talking?

My OH and I are in the position that we will be looking to buy around Easter onwards 2015 at the earliest. I feel like we're at a really awkward time frame and almost wonder if its better to wait another year or two, which would be doable, but very too.

Its difficult because with all the issues I see on here and the hassle of house buying I think I would rather buy a big enough house that was a bit less of a starter house and more a we-could-stay-here-10-years-and-consider-the-family-thing-here, house. So then that makes me think maybe hold off too. Being First Time Buyers seems so much easier than when you have a house full of stuff to organise…

Only thing to do is wait and see I guess! Uncertainty, oh how I loathe you.

AndyGuil

GoldenShadow wrote: »

I know this is like how long is a piece of string

But if people believe prices may drop after the election, how short or long term do you suspect we could be talking?

My OH and I are in the position that we will be looking to buy around Easter onwards 2015 at the earliest. I feel like we're at a really awkward time frame and almost wonder if its better to wait another year or two, which would be doable, but very too.

Its difficult because with all the issues I see on here and the hassle of house buying I think I would rather buy a big enough house that was a bit less of a starter house and more a we-could-stay-here-10-years-and-consider-the-family-thing-here, house. So then that makes me think maybe hold off too. Being First Time Buyers seems so much easier than when you have a house full of stuff to organise…

Only thing to do is wait and see I guess! Uncertainty, oh how I loathe you.

They are not going to drop. That is way too short term. The housing market just doesn't move that quick.

GoldenShadow

AndyGuil wrote: »

They are not going to drop. That is way too short term. The housing market just doesn't move that quick.

Thanks. I'm 22 and was born and bred in the sticks where nobody used to sell houses very often. This is all a rather large learning curve.

allthingsmustpass

I think you should read a wide spectrum of opinions on this, primarily on economics websites. Those who have already bought will come up with all sorts of 'reasons' why property will obviously just go up and up and up forever and ever because thats what they want to happen. Those who haven't yet bought will be hopeful of a more affordable home and so might seek out opinions that suggest they are going to come down.

Don't rely on some strangers on a forum, read around a bit more than that.

The last 10 years or so have been unusual, check out some house price charts. We had a tripling of prices over a short period that started around 2000 and then bang the financial crisis. Plenty of people (home owners!) were scratching their heads wondering where that came from whilst still thinking such a meteoric rise in prices was perfectly normal !

Now we have emergency interest rates and schemes like help to buy etc.

Something is not quite right. You should read around and consider a persons personal situation and history when they give you their advice or opinion.

Good luck!