"But (according to Nationwide BS) house prices continue to rise... "
certainly not coming down thats for sure ..... im looking at the moment.
if its not dross then it sells quick .... i looked at a nice house on tuesday. went on the market last thursday - closing date today.
looked at one that went on on saturday and its closing next wednesday !
only stuff i see not selling is the ex council in complete dives of areas/folk who cant sell as they dont have the right paperwork in place for extensions or people trying to sell up to escape the incoming dual carridge way - but for the top dollar that they paid for their house it seems !
Do you think that's because of people with money investing in property? Return on investment is pretty minimal on most things. Interest on savings is nowt. I'd imagine if you're looking long-term, the right property might still be a fairly safe investment. Well... as safe as anything at the moment.
i wouldnt have said they were your average buy to lets really ...
country/suburb 3 beds with garages and gardens - sounds like my idea of hell for a rental .....
Well... as safe as anything at the moment
We might have to re-think the expression 'as safe as houses...'
'As safe as old school deore XT thumbshifters' would be my personal preference - they are the only things of lasting value in this world.
trail rat - 3 bed houses are apparently what the rental sector is short of, and prices are rising accordingly. I suppose it stands to reason at the moment
City centre flats being somewhat over supplied
House prices round here are falling, some looking stupidly cheap like the bottom is about to drop out of the market completely. Fixer-upper three bed semi in cheaper but not disastrous area going for £60-65k, two bed terraced for £45-50k.
As for disposable income, not a vast change, but noticing some things getting dearer, but mostly the effect of keeping three growing kids going that grabs my cash mostly. Trouble is with these studies, people move on, what we're doing now with our money isn't going to be exactly the same as five years ago. Teenagers cost more to run than younger ones
how am i going to afford my iphone and starbucks?
Depends if its a 4s os some povvy, council 3g thing 😉
"certainly not coming down thats for sure ..... im looking at the moment"
Oh really, are you a BTL landlord or Estate Agent by any chance?
You might want to take a look at the Land Registry figures, not some skewed Nationwide/Halifax/Rightmove index with all their vested interests.
Alternatively this report from Moneyweek seems to sum up the situation perfectly:
[url= http://www.moneyweek.com/investments/property/uk/how-much-further-will-house-prices-fall-56028 ]How Much Further Will House Prices Fall[/url]
Still think house prices are going to rise? Pull the other one!
Don't feel as if my disposable income has dropped that much.. If anything earning more now than ten years ago.
But then my life has changed almost immeasurably, married with a young child, a bigger mortgage and more outgoings..
Never been loaded but consider ourselves well off in other ways. I have a nice bike but just one, sold others to fund the purchase of it just prior to the wee one arriving. Upgrades are usually taken care of easily by Christmas and birthdays so all good in that respect.
Have noticed increased cost of living though, food prices, petrol, bills, all going up. Shame about the wage freeze/cap....
I've always disliked consumerism (other than bikes) and always thought we were in an unsustainable boom throughout 2003-2007 so saved as much as i could. I just dont get designer labels, fancy restaurants, flash cars, new kitchens, white hgoods, consumer electricals etc etc.
I still fear my job imploding but so far its gone fine over the last 4 years since recession / credit crunch started and if it does implode i will be debt free, house owner so should be able to survive.
I have loads of clients who are worth tens of millions and its a myth that such people all flash it about. Most of them drive old cars, wear M&S clothes, eat out in Harvesters (really amazing I know) and holiday in Spain or Cornwall etc, not Necker Island!
Intesting read northernstar but very london centric life does exist outside the bubble
Ive been looking at the figures for the area which i live in ....
In the last year its up 0.2% in the last quarter its up 3.9% and the average price of a property is 190k......taken from the registars scottish executive agency
Oh and no im not involved in finance all just an engineer trying to buy my first house ... Doing the engineer thing of looking at facts and figures first .....
I'm working away more - thus wearing out less drivetrains.
Actually I think I need less and less new stuff as this decade wears on.
holiday in Spain or Cornwall
Cornwall in the summer is probably more expensive than Necker Island 🙂
I don't know M-F, we had a week's camping holiday in Cornwall this summer and i think we spent just over £300 between the two of us!
Weren't skimping either.
I WAS being slightly tongue in cheek! But we did decide against Cornwall as 2 weeks in a holiday cottage was around £2400+ for a nice 2 bed with views. Ended up going off-season to Devon.
Selling my t4 camper in the new year which i've spent 1000's on getting to my spec 🙁 My enduro full suss has been split ready to sell
Fixie has gone to my mates shop to get sold.
So yes, i'm tightening my belt and thinking about my spending a lot more.
