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Is buying a house a good idea?

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Comments

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    Annual rise of 4.4%?

    There have been a few small drops over the years, its better to look at the annual rate as this gives a clearer picture. a 0.1% drop in one month does not make a crash.


    Sales volumes are getting lower, didn`t you read the report? High prices on smaller and smaller transactions are meaningless for the wider market.


    https://www.standard.co.uk/news/london/london-house-prices-fall-for-first-time-since-2009-recession-a3817051.html
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    51mm5 wrote: »
    Boom. Game over Crashy.


    Indeed.


    "The most up-to-date HM Land Registry sales figures available for England show the number of completed house sales in December 2017 fell by 21.2% to 62,697 compared with 79,605 in December 2016."
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Crashy_Time wrote: »
    Indeed.


    "The most up-to-date HM Land Registry sales figures available for England show the number of completed house sales in December 2017 fell by 21.2% to 62,697 compared with 79,605 in December 2016."

    I do apologise Crashy, all this time I thought you were predicting a house price crash but no turns out you were predicting a house sales volume crash.... Where will you have moved the goal posts to next month?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    I do apologise Crashy, all this time I thought you were predicting a house price crash but no turns out you were predicting a house sales volume crash.... Where will you have moved the goal posts to next month?



    :rotfl: Good try. :T
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Mobile Saver will be along in a minute to tell us that the "Market is healthy" and there is "Lots of demand" as transactions chug along at...well...cough cough...a lot less than they used to ....:)
  • MobileSaver
    MobileSaver Posts: 4,234 Forumite
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    Crashy_Time wrote: »
    Try reading the stats going back 5-10 years for a clearer picture

    Oh dear, oh dear, oh dear! That would be the official Land Registry stats showing transaction volumes are UP around 33% from 5 to 10 years ago? (Approx 900,000 a year between 2008 and 2013 and 1.2m a year for the last 4 years.) :rotfl:
    Crashy_Time wrote: »
    Sales volumes are getting lower, didn`t you read the report?

    Some of us prefer to read the actual official stats rather than clickbait headlines...
    Crashy_Time wrote: »
    High prices on smaller and smaller transactions are meaningless for the wider market.

    There's nothing meaningless for the millions of people who have got on with their lives over the last ten years while a few hundred HPC fanatics have put their lives on hold, consistently called the UK property market wrong and made the biggest financial mistake of a generation.
    Crashy_Time wrote: »
    Mobile Saver will be along in a minute to tell us that the "Market is healthy" and there is "Lots of demand" as transactions chug along at...well...cough cough...a lot less than they used to ....

    I don't need to, the official stats do the job much better than I ever could:

    2008 - 2012 Land Registry Stats

    2013 - 2017 Land Registry Stats

    Of course sales volumes are lower than the peak of 2007 but if you want to spend your life basing decisions on what was meaningful over a decade ago then there really is no hope for you.
    • Your predictions of prices crashing was completely wrong.
    • Your suggestion that volumes have crashed has also now been proven to be totally untrue.
    • For years you banged on about "sentiment" while year after year prices went up and up...
    So as buggy_boy asked, what next in your misguided attempts to talk the market down?
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Morata_
    Morata_ Posts: 182 Forumite
    Go for it. Save as much as you can. If you don't end up buying, you will be able to afford nice holidays and cars.

    If you save hard, depending on area you could well own a place well before you are 35. Sacrifice but not the quality of your life. If you are currently going out 4/5 times a month, adjust to 2/3 times. Quit the gym and road run/long walks. Cut out takeways etc, 1 a week not 2/3...

    Good luck...
  • MiserlyMartin
    MiserlyMartin Posts: 2,236 Forumite
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    London is still falling and that rippled out to the commuter towns NOV/DEC, but this months LR figures show a recovery in the commuter towns to previous highs. Looks like a pause rather than a crash. Unless you are in London
  • MiserlyMartin
    MiserlyMartin Posts: 2,236 Forumite
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    Hang on a minute. I thought that the debate house prices had a different section. I came here to see if anyone had any tips for picking a cheap but good conveyancer. Am I wise to avoid anyone with LLP after the firm?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Mickygg wrote: »
    Return to a thread and see yet again crashy has ruined it.

    If everyone ignored or blocked him he would go back to his lonely one bed rented bed sit and post his nonsense somewhere else.

    Crashy you didn't reply do you want the number of someone who works at my place he is just like you and posts rubbish as he has nothing else to do or concentrate on and is so bitter he hasnt bought a place by late forties?

    I don't know why I'm asking as I know I'll see a post from crashy in the form of a link to a house price crash website instead.


    Does your pal tell everyone on his forums that he is ignoring someone and then troll all their posts? :rotfl: I`m afraid you are further gone than your (imaginary) pal mate :)
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