Terrible time to buy a house?
Discussion
dxg said:
jdw1234 said:
Neil H said:
fido said:
Axionknight said:
I've been waiting for the crash of DOOOOOOOOM since around 2008 now.
You blinked - it happened in 2009 - even in London. But the gubberment bailed us out.I bought a property in mid-2007, arguably the worst possible time looking at that graph, but if I sold it right now I'd stand to make 50% profit...and the reason:
Rise in population Homes built
1971-1981 500,000 2,922,850
1981-1991 1,000,000 2,128,960
1991-2001 1,700,000 1,864,380
2001-2011 3,500,000 1,875,350
westhamtim said:
jdw1234 said:
• Basel 3 likely to result in mortgage rates for BTL materially increasing.
I've seen this mentioned in other house price threads. Which aspect of Basel 3 is going to drive this increase?Page 2 of this article:
http://www.ftadviser.com/2015/04/27/mortgages/mort...
Welshbeef said:
Do we have official stats or graph for house sale volumes?
What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
Why would people not buy a house because Labour might get in?What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
turbobloke said:
dxg said:
jdw1234 said:
Neil H said:
fido said:
Axionknight said:
I've been waiting for the crash of DOOOOOOOOM since around 2008 now.
You blinked - it happened in 2009 - even in London. But the gubberment bailed us out.I bought a property in mid-2007, arguably the worst possible time looking at that graph, but if I sold it right now I'd stand to make 50% profit...and the reason:
Rise in population Homes built
1971-1981 500,000 2,922,850
1981-1991 1,000,000 2,128,960
1991-2001 1,700,000 1,864,380
2001-2011 3,500,000 1,875,350
There were 6.6m singe person households in 1996 (c.28%). There are now 7.6m (c.28%).
Average household size was 2.42 in 1996 and is 2.38 in 2014.
I don't see how this has caused the significant house price inflation over the same period?
In 2011, there were 26.4m households. I don't see how 6% having more than one house has that much of an impact.
MarshPhantom said:
Welshbeef said:
Do we have official stats or graph for house sale volumes?
What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
Why would people not buy a house because Labour might get in?What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
jdw1234 said:
There are c.27m households in the UK in 2014. There were c.24m in 1996.
There were 6.6m singe person households in 1996 (c.28%). There are now 7.6m (c.28%).
Average household size was 2.42 in 1996 and is 2.38 in 2014.
I don't see how this has caused the significant house price inflation over the same period?
In 2011, there were 26.4m households. I don't see how 6% having more than one house has that much of an impact.
Private rental stock has also increased.There were 6.6m singe person households in 1996 (c.28%). There are now 7.6m (c.28%).
Average household size was 2.42 in 1996 and is 2.38 in 2014.
I don't see how this has caused the significant house price inflation over the same period?
In 2011, there were 26.4m households. I don't see how 6% having more than one house has that much of an impact.
http://visual.ons.gov.uk/uk-perspectives-housing-a...
jdw1234 said:
turbobloke said:
dxg said:
jdw1234 said:
Neil H said:
fido said:
Axionknight said:
I've been waiting for the crash of DOOOOOOOOM since around 2008 now.
You blinked - it happened in 2009 - even in London. But the gubberment bailed us out.I bought a property in mid-2007, arguably the worst possible time looking at that graph, but if I sold it right now I'd stand to make 50% profit...and the reason:
Rise in population Homes built
1971-1981 500,000 2,922,850
1981-1991 1,000,000 2,128,960
1991-2001 1,700,000 1,864,380
2001-2011 3,500,000 1,875,350
There were 6.6m singe person households in 1996 (c.28%). There are now 7.6m (c.28%).
Average household size was 2.42 in 1996 and is 2.38 in 2014.
I don't see how this has caused the significant house price inflation over the same period? In 2011, there were 26.4m households. I don't see how 6% having more than one house has that much of an impact.
With multiple ownership a lot of properties will be empty, so they may be counted as supplied and therefore 'covering off' a household's worth of demand when they do no such thing.
In addition, house prices tend to be sticky, with corrections at times of course, so the long-term underlying effect builds upon other rises from other demand increases including shorter-term e.g. easy mortgages when they're easy.
Welshbeef said:
MarshPhantom said:
Welshbeef said:
Do we have official stats or graph for house sale volumes?
What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
Why would people not buy a house because Labour might get in?What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
I'd have said it has more to do with the economy still being on it's knees.
MarshPhantom said:
Welshbeef said:
MarshPhantom said:
Welshbeef said:
Do we have official stats or graph for house sale volumes?
What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
Why would people not buy a house because Labour might get in?What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
I'd have said it has more to do with the economy still being on it's knees.
Now post-GE and with a Conservative government growth in the economy is the envy of nearly every EU nation and more besides.
turbobloke said:
jdw1234 said:
turbobloke said:
dxg said:
jdw1234 said:
Neil H said:
fido said:
Axionknight said:
I've been waiting for the crash of DOOOOOOOOM since around 2008 now.
You blinked - it happened in 2009 - even in London. But the gubberment bailed us out.I bought a property in mid-2007, arguably the worst possible time looking at that graph, but if I sold it right now I'd stand to make 50% profit...and the reason:
Rise in population Homes built
1971-1981 500,000 2,922,850
1981-1991 1,000,000 2,128,960
1991-2001 1,700,000 1,864,380
2001-2011 3,500,000 1,875,350
There were 6.6m singe person households in 1996 (c.28%). There are now 7.6m (c.28%).
Average household size was 2.42 in 1996 and is 2.38 in 2014.
I don't see how this has caused the significant house price inflation over the same period? In 2011, there were 26.4m households. I don't see how 6% having more than one house has that much of an impact.
With multiple ownership a lot of properties will be empty, so they may be counted as supplied and therefore 'covering off' a household's worth of demand when they do no such thing.
In addition, house prices tend to be sticky, with corrections at times of course, so the long-term underlying effect builds upon other rises from other demand increases including shorter-term e.g. easy mortgages when they're easy.
Source: House of Commons Library Briefing Note: "Housing demand and need (England)" Standard Note: SN06921, Last updated: 23 June 2014
which you can politicise and present as this:
http://www.telegraph.co.uk/news/uknews/immigration...
Welshbeef said:
You've not been to (other provincial towns)
A list of places I've been to within the last few weeks - I'm sure they must have nice areas ... but what I saw was utter dives.
But none of those places has crazy house prices like Reading (or other Home Counties commuter towns for that matter). The prices make no sense to me.A list of places I've been to within the last few weeks - I'm sure they must have nice areas ... but what I saw was utter dives.
If you've got a job in town there, then fair enough, but commuting into London from somewhere like that, jostling for space every day on the fast trains because the stopping trains take forever, paying £5k for an annual ticket... balls to that!
turbobloke said:
MarshPhantom said:
Welshbeef said:
MarshPhantom said:
Welshbeef said:
Do we have official stats or graph for house sale volumes?
What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
Why would people not buy a house because Labour might get in?What I read fairly recently in the press is that mortgage approvals are increasing following a slight lull due to the uncertainties of would labour get in and would Scotland leave.
I'd have said it has more to do with the economy still being on it's knees.
Now post-GE and with a Conservative government growth in the economy is the envy of nearly every EU nation and more besides.
MarshPhantom said:
Welshbeef said:
MarshPhantom said:
That accounts for about 1 or 2% of the population. What about the rest?
I'd have said it has more to do with the economy still being on it's knees.
Which economy are you talking about?I'd have said it has more to do with the economy still being on it's knees.
Have you been on Mars for the last 3+ years?
Welshbeef said:
MarshPhantom said:
Welshbeef said:
MarshPhantom said:
That accounts for about 1 or 2% of the population. What about the rest?
I'd have said it has more to do with the economy still being on it's knees.
Which economy are you talking about?I'd have said it has more to do with the economy still being on it's knees.
Have you been on Mars for the last 3+ years?
Lol Tonker.
No I only buy 3 bed semis with off road parking no flats or lease hold for me.
Cross rail will increase capacity - or should, ditto the Hitachi new fast trains replacing the derv trains from the 1970/80's.
Problem I see is not enough parking at the station - I'm frequently in London, the multi-storey is full then on most days the Kings Meadow car park gets full very often very early on. So add in more volume just where will they go? It's simply a race these days so I'm there 6am ish or 6:30am latest but no doubt if it's full later they will start to leave sooner.
As it turns out in Reading some foreign buyer bought all the blocks of flats outright off plan so FTB or BTLs didn't get a chance and from local gossiping it turns out the said same individual is doing it again ....
No I only buy 3 bed semis with off road parking no flats or lease hold for me.
Cross rail will increase capacity - or should, ditto the Hitachi new fast trains replacing the derv trains from the 1970/80's.
Problem I see is not enough parking at the station - I'm frequently in London, the multi-storey is full then on most days the Kings Meadow car park gets full very often very early on. So add in more volume just where will they go? It's simply a race these days so I'm there 6am ish or 6:30am latest but no doubt if it's full later they will start to leave sooner.
As it turns out in Reading some foreign buyer bought all the blocks of flats outright off plan so FTB or BTLs didn't get a chance and from local gossiping it turns out the said same individual is doing it again ....
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