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Housing market

Discussion in 'off topic' started by matt j, Feb 2, 2022.

  1. CTank

    CTank pfm Member

    Best of luck. I’ve been in my place a year, having bought my first house at 48. So it can be done!
    hifinutt and gustav_errata like this.
  2. mandryka

    mandryka pfm Member

    Yes it can be done on that style of building then, presumably without inordinate expense. I may go and take a shufti to see what they’ve done.
  3. mandryka

    mandryka pfm Member

    hifinutt and venton like this.
  4. stevec67

    stevec67 pfm Member

  5. claire.foxx

    claire.foxx Trans lives matter more than your feelings - ΘΔ

    One of the things I have to do in order to close up my affairs is selling my house.
  6. dan m

    dan m pfm Member

    Damn, I need to do my shopping over by you; that lot would be a fiver where I am. ;-)
    stevec67 likes this.
  7. matt j

    matt j pfm Member

    That's good going. Not only can I not afford to buy anything I'd want to live in but I checked this week and mortgage repayments for the place I'm renting would be £100p/m more than my rent payments are and I'm already paying my max rent.

    Aside from a titanic housing crash I've pretty much given up, 30/40/50k deposits are cloud cuckoo land at my age.
  8. Ponty

    Ponty pfm Member

    Don’t hold your breath for a let up in rate rises. Those who think house prices aren’t falling should calculate the change in mortgage payments at today’s rates and rethink.
  9. mandryka

    mandryka pfm Member

    I think it would be a sign that the world’s gone mad if the BoE raises interests rates because tomatoes, cucumbers and lettuce are more expensive in February.
  10. Ponty

    Ponty pfm Member

    Maybe. Mortgages have already gone 2X, 3X and more in terms of monthly payment. If that was sustainable and affordable, prices would have been (even) higher when everyone thought ZIRP was with us forever. Let alone the cost of everything else going up. This will be like a dripping tap. The first time buyers can’t afford anything, then month by month, more mortgages double as their cheap rates end. Eventually, the sink overflows.
    sean99 likes this.
  11. stevec67

    stevec67 pfm Member

    Aldi Thornbury, Bradford. Just remember to leave your weapons at the door.
    dan m likes this.
  12. dan m

    dan m pfm Member

    Can someone please explain the logic behind local occupancy restrictions? Especially the bit about its ok to buy a property if you are going to turn it into a holiday let but not ok if you work just outside the park boundary.
  13. clivem2

    clivem2 pfm Member

    That does sound daft. If it’s your only property then it shouldn’t matter where you work, you’ll still be part of the local community and buying goods locally. Can you make yourself based from home, even if it’s just a contractual detail rather than reality?
    dan m likes this.
  14. Kirk

    Kirk pfm Member

    Agree, a surprise. Prices are also falling around here though some chat about firming up (London).
  15. palindrome

    palindrome Thru a hedge, backwards and forwards.

    If you're an expert in karate, that might be a bit of a problem. . . :D

    Last edited: Mar 22, 2023
  16. hifinutt

    hifinutt hifinutt

    wow are you going on a world tour ?
  17. hifinutt

    hifinutt hifinutt

    yes i see these a bit .often well priced to protect locals i guess
  18. Curtis

    Curtis pfm Member

    I just hope that raising interest rates will eventually bring house prices back to where they should be.
    Affordable for everyone
    We still haven’t seen a decrease in Bucks prices but it must be coming.
    I am willing to pay more if it means change.
    Bloody useless government’s, banks etc.
  19. sean99

    sean99 pfm Member

    It also takes time for the number of forced sellers to accumulate in a falling market. In addition to mortgage rate adjustments there will be deaths, downsizes, new jobs / relocation all accumulating. For a while asking prices can appear to remain stickily high, only because a substantial percentage of the sellers don't have to move. Plus a lot of sellers chase the market downward over 12+ months because they won't accept reality early on.
    wiresandmore and Ponty like this.
  20. kensalriser

    kensalriser pfm Member

    Indeed. One tiny data point: last week I asked an agent I was having a conversation with about a property on their books that I might be interested in viewing but I thought the asking price for to be unrealistic. Back came the story: they had an agreed sale last autumn at a higher price that got torpedoed in the Truss/Kwarteng chaos and the vendor is still clinging to the belief that another buyer will come in with something similar. Now it's off the market while they do a bit of decorating and carpet replacement in the probably vain hope that will somehow magic up 20k more than it's worth.

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