Does anyone talk about house prices in here anymore?

kabayiri

padington wrote: »

Point is property is a long term investment, you buy and hold. The only questions you need to ask yourself is, will this save me money each year. If so, it doesn't matter what the temporary market prices are doing. Over the long game, you have a winning horse.

People still need to sell in a downturn, for any number of reasons.

Job loss; marriage; relocation; divorce; etc.

If you can hold on to the place, it does work I agree.

Out,_Vile_Jelly

padington wrote: »

You don't sell your sole house, unless you can buy a better one with the money. Rule number 1.

Or you think about settling down and having kids, and your "vibrant, edgy and up and coming" part of town suddenly looks a lot less appealing.

caronoel

Out,_Vile_Jelly wrote: »

Or you think about settling down and having kids, and your "vibrant, edgy and up and coming" part of town suddenly looks a lot less appealing.

In which case, you either sell up or rent it out and move to the countryside.

Mrs caronoel and I took the latter route, and its worked out very well even with the tenant tax due to our low LTV figures.

I’ve also noted that rents have taken a real spike up in the area of south London where we used to live, which has really muted the pain from Osborne’s tax grab.

padington

House prices up 0.6% in Feb according to Halifax. Stronger than expected increase.

The recent top callers are wrong already and it's only feb.

caronoel

padington wrote: »

House prices up 0.6% in Feb according to Halifax. Stronger than expected increase.

The recent top callers are wrong already and it's only feb.

Seems to chime with the Nationwide's own figures which are also 0.6% for the month

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/2017/Feb_2017.pdf

padington

kabayiri wrote: »

Correct me if I'm wrong, but I don't think you have been through a property crash?

I can recall trying to sell during the early/mid 90s property downturn.

The interesting thing is that nobody could really give you a true or honest assessment of where we were in this cycle.

The EA would come round and suggest dropping the price about £5K, but they didn't know where the bottom was any more than you did.

These property experts were just guessing, and were often behind the curve.

We will get another downturn at some point, it's just the nature of things, but who will spot it accurately? That might be more difficult.

I watched the 2008 crash and saw gold tank and London property ... took a breather.

System

I think the answer to the question is self-evidently Yes.
There are currently 4 current house price threads in this sub-forum, and of course a dedicated forum on house buying as well.

padington

Clifford_Pope wrote: »

I think the answer to the question is self-evidently Yes.
There are currently 4 current house price threads in this sub-forum, and of course a dedicated forum on house buying as well.

Good for you

Thrugelmir

At least one segment of the market is slowing.

The average price of a home in Scotland fell by almost 2% last year but the total number of sales went up, according to a report. Figures from Registers of Scotland (RoS) showed the average price of a residential property in 2016 was just over £166,000. That was down from just over £169,000 the previous year.

padington

Thrugelmir wrote: »

At least one segment of the market is slowing.

Yeah , the English don't want to move there since nationalism took hold.