Sell now in the UK or never?
Jun 4th 2003, 12:07 pm
#31
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Originally posted by PeteY
Im intrieged PB....are you going to be buying when you get here? Or will you rent for a few years and wait for the prices to drop...
After all theres little point in buying when you know the house price market is alledgedly about to collapse.
Im intrieged PB....are you going to be buying when you get here? Or will you rent for a few years and wait for the prices to drop...
After all theres little point in buying when you know the house price market is alledgedly about to collapse.
We have enough money to rent given we can invest capital.
Even thinking of buying cheap homes in the waste lands of the North East and renting them out, seen small terrance homes up for 20k or less that would be fine for DHSS dumping grounds.
Jun 4th 2003, 12:21 pm
#32
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Originally posted by crabtree
I will be paying cash for a house in Aus so as a one off expence it is not dependent on having a certain level of income.
IF you listen to the EXPERTS the Pound will get stronger and the Aus dollar weaker.
Tony C
I will be paying cash for a house in Aus so as a one off expence it is not dependent on having a certain level of income.
IF you listen to the EXPERTS the Pound will get stronger and the Aus dollar weaker.
Tony C
You will live off the land I take it , your dream has been tried here many a time , evens bet you will be broke within less than 2 years and have a massive mortgage on a home thats far too big and eats your income.
Jun 4th 2003, 2:06 pm
#33
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Originally posted by willywh3r3
How sure are you that nothing happens within this one year?
Many, many people were caught off-guard when the stock market crashed in US during dot-com burst. Many still thought that it was clear day until they were woken up by sad reality that their retirement fund vaporizes. By then, it was too late.
How sure are you that nothing happens within this one year?
Many, many people were caught off-guard when the stock market crashed in US during dot-com burst. Many still thought that it was clear day until they were woken up by sad reality that their retirement fund vaporizes. By then, it was too late.
We bought all of our stuff before the boom. To make money that way now would be a joke, you just could not find bargains, they dont exist, people here know their value.
I am not in a place where prices have risen for several years like Sydney or Melbourne. I know my property market, if interest rates go up even .25% I'll be looking at selling, if unemployment rises, or interstate migration drops ditto. If prices drop here it will be Apartments first, Sydney second, plenty of warning signs before it ripples here, and as I said, the stuff we buy is irreplacable anyway.
Nothing is guaranteed but for me to stay here for even another year I can assure you I am a very confident girl.
Jun 4th 2003, 2:21 pm
#34
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Originally posted by crabtree
I will be paying cash for a house in Aus so as a one off expence it is not dependent on having a certain level of income.
IF you listen to the EXPERTS the Pound will get stronger and the Aus dollar weaker.
Tony C
I will be paying cash for a house in Aus so as a one off expence it is not dependent on having a certain level of income.
IF you listen to the EXPERTS the Pound will get stronger and the Aus dollar weaker.
Tony C
EXPERTS like these?
THE Australian dollar soared to 3½-year highs yesterday as the Reserve Bank of Australia decided to keep interest rates unchanged for a twelfth consecutive month and fresh figures showed economic growth accelerated in the first quarter of this year.
The currency burst through US66¢ to close at US66.39¢, its highest level since January 2000, and up from US65.87¢ on Tuesday.
The Australian dollar has now surged 18 per cent this year, making it the world's third best performing currency.
With the RBA opting to keep interest rates steady and the possibility of rate cuts in Europe and New Zealand this week, the market remained firmly on the bid for the Australian dollar.
http://www.thewest.com.au/20030605/b...sto100489.html
Jun 4th 2003, 8:05 pm
#35
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Originally posted by pommie bastard
You will live off the land I take it , your dream has been tried here many a time , evens bet you will be broke within less than 2 years and have a massive mortgage on a home thats far too big and eats your income.
You will live off the land I take it , your dream has been tried here many a time , evens bet you will be broke within less than 2 years and have a massive mortgage on a home thats far too big and eats your income.
As I said I will be buying my home for CASH. That meens NO MORTGAGE.
I also said I am buying a business, so That meens living off the fruits of my labours. Something you know nothing about! for a change.
Tony C
Jun 4th 2003, 8:10 pm
#36
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Originally posted by pommie bastard
EXPERTS like these?
THE Australian dollar soared to 3½-year highs yesterday as the Reserve Bank of Australia decided to keep interest rates unchanged for a twelfth consecutive month and fresh figures showed economic growth accelerated in the first quarter of this year.
The currency burst through US66¢ to close at US66.39¢, its highest level since January 2000, and up from US65.87¢ on Tuesday.
The Australian dollar has now surged 18 per cent this year, making it the world's third best performing currency.
With the RBA opting to keep interest rates steady and the possibility of rate cuts in Europe and New Zealand this week, the market remained firmly on the bid for the Australian dollar.
http://www.thewest.com.au/20030605/b...sto100489.html
EXPERTS like these?
THE Australian dollar soared to 3½-year highs yesterday as the Reserve Bank of Australia decided to keep interest rates unchanged for a twelfth consecutive month and fresh figures showed economic growth accelerated in the first quarter of this year.
The currency burst through US66¢ to close at US66.39¢, its highest level since January 2000, and up from US65.87¢ on Tuesday.
The Australian dollar has now surged 18 per cent this year, making it the world's third best performing currency.
With the RBA opting to keep interest rates steady and the possibility of rate cuts in Europe and New Zealand this week, the market remained firmly on the bid for the Australian dollar.
http://www.thewest.com.au/20030605/b...sto100489.html
MY POINT IS: For every so called expert that says the property market has or will crash in the near fututre ther is another so called expert that says the property boom will continue for some time yet All be it in certain parts.
For every expert saying the Pound will get weaker there is another that says it will get stronger.
YOU listen to the ones that suit your requirements and thats just fine.
Tony C
Jun 4th 2003, 8:13 pm
#37
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Originally posted by crabtree
As I said I will be buying my home for CASH. That meens NO MORTGAGE.
I also said I am buying a business, so That meens living off the fruits of my labours. Something you know nothing about! for a change.
Tony C
As I said I will be buying my home for CASH. That meens NO MORTGAGE.
I also said I am buying a business, so That meens living off the fruits of my labours. Something you know nothing about! for a change.
Tony C
Jun 4th 2003, 8:20 pm
#38
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Originally posted by Megalania
Here's hoping your business goes well, you do not have to mortgage your house to bail out the business and you deprive the buzzards of their nurishment.
Here's hoping your business goes well, you do not have to mortgage your house to bail out the business and you deprive the buzzards of their nurishment.
Another useless reply!
Tony C
Jun 4th 2003, 9:01 pm
#39
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Originally posted by crabtree
Another useless reply!
Tony C
Another useless reply!
Tony C
Jun 4th 2003, 10:31 pm
#40
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Originally posted by Sindy
Totally agree pete,
This is an issue of market confidence rather than anything else. The housing market crash of the 90's was brought about by specific economic indicators. Those indicators are currently not a factor (Interest rates, unemployment etc) and consequently the market should not crash.
Two things are having an impact though, all of the media hype about a collapse in the market is holding some buyers back until they see which way the wind blows and first time buyers are finding it difficult to get on the property ladder, also when they hear that the market may collapse they hold back hoping for a drop in price.
The overall impact is that fewer people out there are buying and some are reducing the price to attract a buyer.
If we are not careful this will become a self fullfilling prophecy and the market will colapse, not because it should, but because we made it happen.
Last two points, PB's first link pointed to an article fom last december claiming a 30% drop this year. We are now 1/2 way through the year so where is the evidence (Outside London).
The second link to an article from 2 June also stated
"The main UK property market monitors say house price growth will slow sharply this year, but do not believe there will be a crash."
So the immediate state of the housing market will have more to do with perception rather than reality.
Optimistic Bill
Totally agree pete,
This is an issue of market confidence rather than anything else. The housing market crash of the 90's was brought about by specific economic indicators. Those indicators are currently not a factor (Interest rates, unemployment etc) and consequently the market should not crash.
Two things are having an impact though, all of the media hype about a collapse in the market is holding some buyers back until they see which way the wind blows and first time buyers are finding it difficult to get on the property ladder, also when they hear that the market may collapse they hold back hoping for a drop in price.
The overall impact is that fewer people out there are buying and some are reducing the price to attract a buyer.
If we are not careful this will become a self fullfilling prophecy and the market will colapse, not because it should, but because we made it happen.
Last two points, PB's first link pointed to an article fom last december claiming a 30% drop this year. We are now 1/2 way through the year so where is the evidence (Outside London).
The second link to an article from 2 June also stated
"The main UK property market monitors say house price growth will slow sharply this year, but do not believe there will be a crash."
So the immediate state of the housing market will have more to do with perception rather than reality.
Optimistic Bill
Jun 4th 2003, 11:48 pm
#41
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seen small terrance homes up for 20k or less that would be fine for DHSS dumping grounds
We had loads of problems with a DSS tenant, ended up out of pocket to the tune of £1000 and not a thing we could about it apart from evict them. The buggers know how to screw the system and the landlords.
Jun 5th 2003, 12:26 am
#42
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What I want to know is what first time buyers can actually afford to buy these houses and who in their right mind would want to pay these prices. House prices only continue to rise as long as people are willing to pay these overinflated prices. I really just hope that they become a bit more realistic and affordable. My husband and I couldn't even afford to buy in the Southeast even with a decent wage and that I think there is something wrong there when that happens.
I'm still going to go back to the UK coz I miss it like crazy!!
I'm still going to go back to the UK coz I miss it like crazy!!
Jun 5th 2003, 12:43 am
#43
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Originally posted by daisymoll
What I want to know is what first time buyers can actually afford to buy these houses and who in their right mind would want to pay these prices. House prices only continue to rise as long as people are willing to pay these overinflated prices. I really just hope that they become a bit more realistic and affordable. My husband and I couldn't even afford to buy in the Southeast even with a decent wage and that I think there is something wrong there when that happens.
I'm still going to go back to the UK coz I miss it like crazy!!
What I want to know is what first time buyers can actually afford to buy these houses and who in their right mind would want to pay these prices. House prices only continue to rise as long as people are willing to pay these overinflated prices. I really just hope that they become a bit more realistic and affordable. My husband and I couldn't even afford to buy in the Southeast even with a decent wage and that I think there is something wrong there when that happens.
I'm still going to go back to the UK coz I miss it like crazy!!
Also lenders income multiples are increasing by up to 5 times income for some first time buyers as affordability is not a problem with such low rates on offer.
Jun 5th 2003, 11:46 am
#44
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Originally posted by crabtree
As I said I will be buying my home for CASH. That meens NO MORTGAGE.
I also said I am buying a business, so That meens living off the fruits of my labours. Something you know nothing about! for a change.
Tony C
As I said I will be buying my home for CASH. That meens NO MORTGAGE.
I also said I am buying a business, so That meens living off the fruits of my labours. Something you know nothing about! for a change.
Tony C
Jun 5th 2003, 11:48 am
#45
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Originally posted by GetMeOutOfHere
There was mentioned recently in financial UK press of mortgages being offered similar to Japan, that you take mortgages out for a lifetime and pass the mortgage on to your next of kin:scared:
Also lenders income multiples are increasing by up to 5 times income for some first time buyers as affordability is not a problem with such low rates on offer.
There was mentioned recently in financial UK press of mortgages being offered similar to Japan, that you take mortgages out for a lifetime and pass the mortgage on to your next of kin:scared:
Also lenders income multiples are increasing by up to 5 times income for some first time buyers as affordability is not a problem with such low rates on offer.
