London Has Peaked

lisyloo

For people who are trying to time the market then it matters.
If you are buying a house for the long term then in general you should buy as soon as you can.

I think the demand outweighs other factors and prices will continue to rise although much lower than before due to lending and affordability constraints.

Those who are trying to time it are taking a risk if it's a home.

Bubble_and_Squeak

wotsthat wrote: »

I think UKcarper has adopted your statistical 'analysis' and is using it against you in an ironic way.

Prices are up >20% in London since you've been house hunting. Posting the odd link to Rodney Place or Pond Road might protect you mentally but doesn't alter the fact.

I know you're the bear here but it seems a bit strange getting excited about a place on Pond Road for £310k - I wouldn't touch it for half that.

as i have said many times i stopped looking in april because the market was overheated
pond road beautifully illustrates this point
you are merely pretending that a property which completed in april was also marketed in april for the purpose of getting "thanks" by your bromance buds

Bubble_and_Squeak

and all of you are forgetting that when hamish said its a good time to buy back in may you were agreeing with him
by what stretch of the imagination was buying in may better than buying now?
OH BUT THE LAND REGISTRY!
who cares?
buying a house is a big decision which should be carefully considered, not a snap decision made after a 5 minute bomad infested in-out viewing.
if i do end up paying more than april but end up with a house i actually want that suits me
looking at the first few rightmove listings of the year its seems a dead cert that will NOT be the case

System

Yep those 2 beds are way cheaper than the equivalent 3 beds in April. Crash on!

ukcarper

Bubble_and_Squeak wrote: »

and all of you are forgetting that when hamish said its a good time to buy back in may you were agreeing with him
by what stretch of the imagination was buying in may better than buying now?
OH BUT THE LAND REGISTRY!
who cares?
buying a house is a big decision which should be carefully considered, not a snap decision made after a 5 minute bomad infested in-out viewing.
if i do end up paying more than april but end up with a house i actually want that suits me
looking at the first few rightmove listings of the year its seems a dead cert that will NOT be the case

Trying to time market is a risky thing to do if you are buying for long term. My first house was a new build in a cul de sac, when they first came to my notice they were £5350 this was at the beginning of the year, I paid £8000 in April by the beginning of the following year they were £11000. The phase I bought on was the last I could afford so if I had waited I would not have been able to buy for several years. The last phase sold for £10250 so you could argue that the person who paid £11000 overpaid but at least they got the house and by the time they came to sell that £750 would make very little difference.

Crashy_Time

ukcarper wrote: »

Trying to time market is a risky thing to do if you are buying for long term. My first house was a new build in a cul de sac, when they first came to my notice they were £5350 this was at the beginning of the year, I paid £8000 in April by the beginning of the following year they were £11000. The phase I bought on was the last I could afford so if I had waited I would not have been able to buy for several years. The last phase sold for £10250 so you could argue that the person who paid £11000 overpaid but at least they got the house and by the time they came to sell that £750 would make very little difference.

I think you are missing some zeros, or did I miss the crash?

brit1234

Trying to time the market at the moment is not really an option. If you can't afford then it doesn't really matter if people say buy now or you will miss the boat.

Pretty much every economic indicator suggests we have a housing bubble in london and now confidence is finally falling, hopefully the bubble will properly burst this time. I will buy when I can afford too at no more than 4 times salary and a big deposit.

Lets see what crazy scheme they come up with next to keep the bubble going.

Jack_Johnson_the_acorn

brit1234 wrote: »

Trying to time the market at the moment is not really an option. If you can't afford then it doesn't really matter if people say buy now or you will miss the boat.

Pretty much every economic indicator suggests we have a housing bubble in london and now confidence is finally falling, hopefully the bubble will properly burst this time. I will buy when I can afford too at no more than 4 times salary and a big deposit.

Lets see what crazy scheme they come up with next to keep the bubble going.

Britney's back!!!! Prices have gone up by about 20%in london this year..... How big a crash do you need now!!! & Why doesn't your signature show the figures anymore???? :rotfl:

padington

I spoke to a close neighbour today in woodgreen and asked how the selling of his place is going, he said well, loads of interest but the buying has been a nightmare. He offered the asking price twice on two different properties and got rejected on each one. The last time they said they didn't want someone in a chain ( for a 700k house in Winchmore Hill ).

Selling property is easy, it's buying that's hard at the moment from what I can see on the ground.

mayonnaise

brit1234 wrote: »

I will buy when I can afford too at no more than 4 times salary and a big deposit.

Chin up mate, give it a few months.

brit1234 wrote: »

I will be able to afford in 12 months the way prices are tumbling.:D

http://forums.moneysavingexpert.com/showpost.php?p=9309957&postcount=49



oops, that was 2008.