Debate House Prices
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What "incentives" are there in your area?

codger
Posts: 2,079 Forumite


http://www.cumberland-news.co.uk/news/1.119455
FTBers are probably best to await the motor trade's incentive scheme, whereby a new car will be available with a house thrown in for free.
Be interesting to see the rate of spread of these "incentives" across the UK on new-build flats: BOGOF may not be out of the question next year as the last of late BTLers come to the end of their 2-year cheap mortgage deals.
So long as the new incentive schemes don't see a replay of one back in 1990, buy my house, get the missus for free. Aside from the unfunny (and even then, out-dated sexism) notion of the Andy Capp seller, the missus was infinitely more attractive than the house.
FTBers are probably best to await the motor trade's incentive scheme, whereby a new car will be available with a house thrown in for free.
Be interesting to see the rate of spread of these "incentives" across the UK on new-build flats: BOGOF may not be out of the question next year as the last of late BTLers come to the end of their 2-year cheap mortgage deals.
So long as the new incentive schemes don't see a replay of one back in 1990, buy my house, get the missus for free. Aside from the unfunny (and even then, out-dated sexism) notion of the Andy Capp seller, the missus was infinitely more attractive than the house.
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What a gimmick. They should just knock the price of the car off the price for the flats!0
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Wuuuhhh! How weird would it be to live in a flat complex where everyone has the same car?Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0
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Ughh, this was on the front page of the Northern Echo. The 'journalist' described it as a "wheely good scheme".Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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can I put forward this example for the worst ....
JOIN US FOR A REFRESHING GLASS OF PIMMS AT OUR LATE NIGHT OPENING ON THE 5TH, 6TH, 12TH AND 13TH JUNE - 11.30AM TO 7.00PM FOR A WIDE RANGE OF FANTASTIC HOMES - LOOK NO FURTHER THAN BRYANTIt's a health benefit ...0 -
Do you know, I had always hated those new-builds with their paper thin walls and soulless estates.
But now they're saying they'll give you a glass of Pimms...try and stop me buying!!!!0 -
The advantage of that one is that you can get a free drink without having to buy a shoebox (-:...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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can I put forward this example for the worst ....
JOIN US FOR A REFRESHING GLASS OF PIMMS AT OUR LATE NIGHT OPENING ON THE 5TH, 6TH, 12TH AND 13TH JUNE - 11.30AM TO 7.00PM FOR A WIDE RANGE OF FANTASTIC HOMES - LOOK NO FURTHER THAN BRYANT
Inspired, m00m00. Inspired. In respect of which, how about this from Barratt Homes:
JOIN US ON A REFRESHING PUB CRAWL FROM 5TH TO 12TH JULY, NON-STOP FREE DRINKS!
THEN ON THE 13TH, SIGN A BIT OF PAPER AND YOU ARE AUTOMATICALLY THE OWNER OF ONE OF OUR WIDE RANGE OF FANTASTIC HOMES!
LOOK NO FURTHER THAN BARRATT HOMES (AND THE BOTTOM OF YOUR GLASS!)
Never happen. Surely. . .0 -
What "incentives" are there in your area?
Don't buy now and be able to pick up the same property for 15% less in two years.
There aren't too many incentives to buy at the mo that outweigh that!0 -
There is a new development near us - I'm waiting for the incentives to start as they've been for sale since November and so far - from the 18 for sale - two are sold and three are 'reserved'. Although they are advertising "50% sold". Maybe they aren't very good at maths :rolleyes:If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." -Thomas Jefferson 18020
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mrstinchcombe wrote: »Don't buy now and be able to pick up the same property for 15% less in two years.
There aren't too many incentives to buy at the mo that outweigh that!
Methinks a 15% drop in two years is a conservative estimate.
UK house prices have fallen by around 6.5% in the first five months of 2008, twice the rate of decline seen in the first five months of 1992, one of the worst years of the last "market correction" (source: The Times, 7/6/2008).
The speed at which this month-on-month rate-of-decline is occurring has its counterpoint in the astonishing month-on-month rate-of-decline in mortgage availability:
June, 2007: 4,300 different mortgage deals available to buyers.
June, 2008: 441.
As the same institutions which embraced the venal quest for fat, individual bonuses and even fatter, corporate profits scrabble for safety, "affordability" has once again become the criteria for lending.
(The word "lending", not "borrowing", is used because that's a measure of how things have changed: it's not merely the buyer who has to wonder if a deal being offered is affordable, it's now the lender who is thinking hard about whether the risk of making that loan is affordable.)
The delusion of sellers who believe their property, and their area, is immune to wider world economics is today as patently ill-founded as yesterday's crazy self-certs and absurdly high LTVs: if the buyer can't get the mortgage, then the buyer can't get the house. Ends.
So: 15%?
Add on another 5% at least -- and then more, because the market is in classic "expectation inversion", its sentiment no longer fuelled by buyer panic to acquire before prices get higher, but by buyer caution to wait to see how much further prices can fall.
With the UK market reaching an obscenely unsustainable x8 family income requirement to fund a mortgage -- and what a condemnation that is of Blair and Brown, and the moronic fatuity of their on-record 2007 comments about how the country's rising prosperity can be seen through the country's rising house prices -- the current decline still has a lot more than a few percentage points to go. . .0
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