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House prices on the up

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  • #16
    Re: House prices on the up

    It's a very stressful and frustrating time for first time buyers at the moment. We've seen historically affordable mortgages come at the same time as unreasonably large deposit requirements.

    It'll be interesting to see where we're at in a year's time.
    Free Guides For First Time Buyers!

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    • #17
      Re: House prices on the up

      It’s difficult to predict this year’s price index and it depends on certain indicators. There are two scenarios and the first is heavily dependent on the European and worldwide banking crisis. There is talk amongst the economic world that we could be heading for similar times, from the summer onwards, equivalent to those of 2008 within the banking industry. If this occurs I believe we could see a sharp dip in prices in certain areas. Price drops could be as much as 10% over a period of 3-6 months. I then believe it could happen quite quickly as a result of the cash flight from European to British banks as it seems a safe haven. The second scenario is due to a lack of supply and extremely low interest rates if the banking crisis doesn’t affect us our market will remain stable and nationwide could be as low as -1 to +1%. Unless we see a substantial increase in repossessions (which will only happen if rates rise dramatically and this is unlikely in 2012) and we have that nightmare scenario as mentioned earlier I see things remaining stable. I don't have a long hold strategy, I trade. I don't have to worry about whether house prices are rising or falling! This lucrative strategy is really simple. If you're interested I've written some blog posts on the subject and have a free download available from my blog.

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      • #18
        Re: House prices on the up

        house prices will fall fast when interest rates go up and how any fool may think prices are on the rise is crazy they are going down down down and will continue to as trying to get a deposit these days for your average couple is a joke as for first buy schemes they are the biggest con of all time and its not fair for these companys to be selling them.

        house £180,000
        deposits 5%
        loan amount from goverment between 20-40k
        pay back mortgage
        pay back loan within 5 years interest free --- ha yea ok no problem

        The advice i was given was dont pay the loan and re mortgage in 5 years to pay the loan off..... So mr mortgage advisor you think i will get that much equity in 5 years its a massive scam

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        • #19
          Re: House prices on the up

          Originally posted by michaelb4348 View Post
          house prices will fall fast when interest rates go up and how any fool may think prices are on the rise is crazy they are going down down down and will continue to as trying to get a deposit these days for your average couple is a joke as for first buy schemes they are the biggest con of all time and its not fair for these companys to be selling them.

          house £180,000
          deposits 5%
          loan amount from goverment between 20-40k
          pay back mortgage
          pay back loan within 5 years interest free --- ha yea ok no problem

          The advice i was given was dont pay the loan and re mortgage in 5 years to pay the loan off..... So mr mortgage advisor you think i will get that much equity in 5 years its a massive scam
          But I thought such a scheme is being sponsored by the government, so how can a government scam people? Not in Britain surely

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          • #20
            Re: House prices on the up

            Originally posted by Rose-Red View Post
            But I thought such a scheme is being sponsored by the government, so how can a government scam people? Not in Britain surely

            I really dont understand why people have not looked in to this it would be nice to hear from anyone who is in this exact situation at the moment

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            • #21
              Re: House prices on the up

              Unless this government dramaticically changes the planning laws, house prices will continue to rise. Cameron recognised this in his party speach last year, but as yet has done nothing!! And, as such, local authorities continue to draw up authorised development plans that allow for less than 2% new dwellings - hardly in line with the Governments commitment in their manifesto.

              London remains at the centre for overseas investment in property. Presumably attracted by our favourable TAX rates for property investors. So this has a ripple effect for all living in the south east - which might sound great for me but there will be no one in London with their own home who is under 40 in a few years.
              Steve Grapes
              ____________________________
              www.moneyinproperty.co.uk

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              • #22
                Re: House prices on the up

                Maybe I am unlucky but the prices around this close of houses are tumbling down like ninepins....a good 5 % drop in recent months and I am looking to sell mine......darn!

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                • #23
                  Re: House prices on the up

                  Choosing the right location is always the key. It keeps on growing due to the demand of property.

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                  • #24
                    Re: House prices on the up

                    Originally posted by TomM123 View Post
                    Things definitely starting to pick up now.
                    I agree we are getting back on track while Spain seems to be getting worse.

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                    • #25
                      Re: House prices on the up

                      Most people don't buy their first home until they are in mid to late twenties. So at 14 you are 10 to 15 years away from that. That is so many years in a dynamic market like real estate that no one can guess what type of property will be popular then- and certainly no projections on costs.
                      Dreaming about what type of place you would like to live in would be fun- and about what kind of work you would like to do, and all the other parts of your life. One of the ways to prepare is to learn as much as you can- but attempting to enjoy each stage of your life is also a very important part of it.

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                      • #26
                        Re: House prices on the up

                        What happens to house prices when mortgage rates increase?
                        Wondering what will happen to housing prices when mortgage rates increase?

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                        • #27
                          Re: House prices on the up

                          Well buyers say house prices are getting higher while sellers say its getting lower. When will both buyers and sellers be happy with the current rates?

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                          • #28
                            Re: House prices on the up

                            It's very tough being a first time buyer in this market - I was lucky enough to sign for my first house a year ago at 22 when only a 5% deposit was needed.. If I wasn't in a relationship then I'd never have been able to afford it on my own.... I really feel for those who are looking to buy on their own.
                            Online Representative for Tilly, Bailey & Irvine. Got a question? Please ask!

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                            • #29
                              Re: House prices on the up

                              Looking at house prices is what i do for a living. Outside London, prices being ACHIEVED are between 4% and 6% higher .in the last 12 months ... nothing silly there.

                              London .. well thats a different kettle of fish

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                              • #30
                                Re: House prices on the up

                                thanks for sharing this information, i think to buy home in USA

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