Property prices

qwert_yuiop

Now that we’ve had a fairly significant bout of inflation, still going, although at a lower rate, mortgages have suddenly got quite a lot more expensive as well. 

Anyone got any evidence of how the property market is doing? 

Eclipser

https://www.ulster.ac.uk/__data/assets/pdf_file/0015/1511043/ULSTER-UNIVERSITY-House-Price-Index-Reports-Q1-2023.pdf

qwert_yuiop

The report on third quarter will be the illuminating one.

ballyblack

https://www.belfasttelegraph.co.uk/business/northern-ireland/northern-ireland-only-region-of-uk-with-house-prices-still-in-growth/a1784811414.html

motorguy

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Ticked

motorguy said:

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Now, there’s a sensible point of view. Does it matter what your home is worth if you’re not selling? Love it, keep it maintained and find its value if/when you’re moving on.

Mnoee

Ticked said:

motorguy said:

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Now, there’s a sensible point of view. Does it matter what your home is worth if you’re not selling? Love it, keep it maintained and find its value if/when you’re moving on.

I'm remortgaging in about 16 months and if prices rise a little I'll end up at 60% LTV and able to get a better deal than if they tank. If they stay the sameish, I should be able to overpay enough to get me there. That's why I have a vague interest in property prices. I fear until my mortgage is fully paid off I'll always feel compelled to keep half an eye on what's going on and by then it may be habitual! 

motorguy

Mnoee said:

Ticked said:

motorguy said:

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Now, there’s a sensible point of view. Does it matter what your home is worth if you’re not selling? Love it, keep it maintained and find its value if/when you’re moving on.

I'm remortgaging in about 16 months and if prices rise a little I'll end up at 60% LTV and able to get a better deal than if they tank. If they stay the sameish, I should be able to overpay enough to get me there. That's why I have a vague interest in property prices. I fear until my mortgage is fully paid off I'll always feel compelled to keep half an eye on what's going on and by then it may be habitual! 

Does that valuation number change?  (assuming you are staying with the same mortgage co).

We're with Halifax and that number has stayed the same in the 11 years since we built the house.

Not particularly an issue as our LTV is around 44% but just curious.

Mnoee

motorguy said:

Mnoee said:

Ticked said:

motorguy said:

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Now, there’s a sensible point of view. Does it matter what your home is worth if you’re not selling? Love it, keep it maintained and find its value if/when you’re moving on.

I'm remortgaging in about 16 months and if prices rise a little I'll end up at 60% LTV and able to get a better deal than if they tank. If they stay the sameish, I should be able to overpay enough to get me there. That's why I have a vague interest in property prices. I fear until my mortgage is fully paid off I'll always feel compelled to keep half an eye on what's going on and by then it may be habitual! 

Does that valuation number change?  (assuming you are staying with the same mortgage co).

We're with Halifax and that number has stayed the same in the 11 years since we built the house.

Not particularly an issue as our LTV is around 44% but just curious.

Yeah, the value used to work out LTV should be the current value. No idea if you need to request a revaluation it you stay with the same lender or you plugged the wrong numbers in doing it yourself - I've never actually remortgaged yet, just read the handy MSE guide. 

motorguy

Mnoee said:

motorguy said:

Mnoee said:

Ticked said:

motorguy said:

qwert_yuiop said:

The report on third quarter will be the illuminating one.

Are you in the market to buy and / or sell?

I've never really seen much point in concerning my self with property values otherwise.

Now, there’s a sensible point of view. Does it matter what your home is worth if you’re not selling? Love it, keep it maintained and find its value if/when you’re moving on.

I'm remortgaging in about 16 months and if prices rise a little I'll end up at 60% LTV and able to get a better deal than if they tank. If they stay the sameish, I should be able to overpay enough to get me there. That's why I have a vague interest in property prices. I fear until my mortgage is fully paid off I'll always feel compelled to keep half an eye on what's going on and by then it may be habitual! 

Does that valuation number change?  (assuming you are staying with the same mortgage co).

We're with Halifax and that number has stayed the same in the 11 years since we built the house.

Not particularly an issue as our LTV is around 44% but just curious.

Yeah, the value used to work out LTV should be the current value. No idea if you need to request a revaluation it you stay with the same lender or you plugged the wrong numbers in doing it yourself - I've never actually remortgaged yet, just read the handy MSE guide. 

Theres a static number in our online Halifax mortgage account that was set at the valuation at the time of building.

It doesnt change year on year.  As i said, not an issue really, just a curiosity.  Might be because it was a self build rather than say, a house in a development where prices can easier be tracked.

qwert_yuiop

Relevant if you’re thinking of buying, as I am.

I’m told a lot of builders are sitting on sites these days. Material costs have gone up so much and selling prices have slipped a bit recently. It doesn’t make sense to build and not make a decent profit.