Think long and hard about this one.
Jan 22nd 2003, 9:02 am
#16
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Joined: Sep 2002
Location: Derby
Posts: 1,656
A house is worth what someone is prepared to pay... if you get 2 people loving it you'll get your price. If there are loads of property the same and fewer buyers, someone will start reducing for quick sale, and that's where your prices start sliding. Its about supply and demand...
I'm hanging on. Price has doubled in last 5 years and shouldn't be long for me anyway (touches wood frantically!!!)
Mash...
I'm hanging on. Price has doubled in last 5 years and shouldn't be long for me anyway (touches wood frantically!!!)
Mash...
Originally posted by BritboyNZ
I'm also with Joe on this one - spoke to dad the other day, he reckons that the housing market where they live (Staffordshire) has already dipped, he was thinking about selling the (now way too big!) family home & reckons they've missed the boat - value has dropped by 15-20K.
I definitely think there will be a big fall in property prices in the UK sometime soon & the signs are not good - a possible war with Iraq that the UK can't really afford, continuing job losses (BAE systems announced 1000 job losses across the country today), consumers continuing to amass debt on plastic/loans. If the relatively fragile UK economy went into recession, house prices would drop like a stone IMO.
I'm also with Joe on this one - spoke to dad the other day, he reckons that the housing market where they live (Staffordshire) has already dipped, he was thinking about selling the (now way too big!) family home & reckons they've missed the boat - value has dropped by 15-20K.
I definitely think there will be a big fall in property prices in the UK sometime soon & the signs are not good - a possible war with Iraq that the UK can't really afford, continuing job losses (BAE systems announced 1000 job losses across the country today), consumers continuing to amass debt on plastic/loans. If the relatively fragile UK economy went into recession, house prices would drop like a stone IMO.
Jan 22nd 2003, 9:10 am
#17
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Joined: Sep 2002
Location: Mornington, Melbourne
Posts: 419
Weve been waiting since July 01, we are currently waiting for scotland yard to pull their finger out and supply us with police checks for the final processing of our visa (hopefully).
I lost nearly ALL my savings by piling into the Tec boom buying every tec share that moved. If their is one thing Ive learnt its "what goes up, must come down".
We will stay in our home though regardless of house price movements, but anyone who seriously doesnt think there will be a correction in prices I think is in for a shock ( I pray I'm wrong).
I lost nearly ALL my savings by piling into the Tec boom buying every tec share that moved. If their is one thing Ive learnt its "what goes up, must come down".
We will stay in our home though regardless of house price movements, but anyone who seriously doesnt think there will be a correction in prices I think is in for a shock ( I pray I'm wrong).
Jan 22nd 2003, 10:22 am
#18
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Joined: Dec 2002
Location: kidderminster
Posts: 376
we are with joe on this one, our house has risen £30,000 in 12months, nows the time to sell for us, if we dont get visas we will still have the money to invest in something else.
Jan 22nd 2003, 1:03 pm
#19
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Joined: Jan 2003
Location: Brisbane
Posts: 378
Nationwide still rather bullish on houses.
http://www.nationwide.co.uk/mediacen...ase.asp?ID=400
I'm bearish and we will have our house on the market asap. If the UKP drops as some predict and house prices drop, it could get quiet nasty.
Mike.
http://www.nationwide.co.uk/mediacen...ase.asp?ID=400
I'm bearish and we will have our house on the market asap. If the UKP drops as some predict and house prices drop, it could get quiet nasty.
Mike.
Jan 22nd 2003, 1:20 pm
#20
Forum Regular
Joined: Mar 2002
Location: lancashire
Posts: 236
Originally posted by BritboyNZ
I'm also with Joe on this one - spoke to dad the other day, he reckons that the housing market where they live (Staffordshire) has already dipped, he was thinking about selling the (now way too big!) family home & reckons they've missed the boat - value has dropped by 15-20K.
I definitely think there will be a big fall in property prices in the UK sometime soon & the signs are not good - a possible war with Iraq that the UK can't really afford, continuing job losses (BAE systems announced 1000 job losses across the country today), consumers continuing to amass debt on plastic/loans. If the relatively fragile UK economy went into recession, house prices would drop like a stone IMO.
I'm also with Joe on this one - spoke to dad the other day, he reckons that the housing market where they live (Staffordshire) has already dipped, he was thinking about selling the (now way too big!) family home & reckons they've missed the boat - value has dropped by 15-20K.
I definitely think there will be a big fall in property prices in the UK sometime soon & the signs are not good - a possible war with Iraq that the UK can't really afford, continuing job losses (BAE systems announced 1000 job losses across the country today), consumers continuing to amass debt on plastic/loans. If the relatively fragile UK economy went into recession, house prices would drop like a stone IMO.
Lizzie
Jan 22nd 2003, 1:40 pm
#21
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Joined: Jul 2002
Location: was london now glenelg sa
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Re: Think long and hard about this one.
Originally posted by pickletheplacid
By renting:
If the property market does fall but I don't get the visa, I'll be in the position to return to the market in a stronger position.
If the market remains the same and I get the visa, my move will be swift.
At worst, if the market does rise 10% from June onwards (unlikly scenario) but if it does all I lose is the 10%.
At least from June onwards I know that what I've made on the sale of the house is going with me to Aus.
Joe
By renting:
If the property market does fall but I don't get the visa, I'll be in the position to return to the market in a stronger position.
If the market remains the same and I get the visa, my move will be swift.
At worst, if the market does rise 10% from June onwards (unlikly scenario) but if it does all I lose is the 10%.
At least from June onwards I know that what I've made on the sale of the house is going with me to Aus.
Joe
Jan 22nd 2003, 2:54 pm
#22
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Thread Starter
Joined: Sep 2002
Location: Perth
Posts: 85
UK is preparing for war.
The economy has and is experiencing an uncertain climate.
Statistically, borrowing is at an uncomfortable high.
And the man leading our country is a complete buffoon.
NOT taking into account any of the above:
And looking solely at the fact that interest rates are at a RECORD high everyone must agree that there's a good possibility that we could shortly see an interest rate correction.
This said and rates do go up (0.5 - 1%) I really can't see this having a positive effect on the current platoing market.
I admit by saying in the original post "sell up and rent" does sound a bit drastic.
The best way to look at it is review your current situation, if in anyway renting is or could be a viable option I'd seriously consider it.
The possible negative outcome to this is house prices could go down by 10%, for me that's £20000 which to me is not far off what I'd expect to earn in a year in Aus. God knows how long £20000 would take me to save out there. (Looks worse when you look at it like that.)
Joe
The economy has and is experiencing an uncertain climate.
Statistically, borrowing is at an uncomfortable high.
And the man leading our country is a complete buffoon.
NOT taking into account any of the above:
And looking solely at the fact that interest rates are at a RECORD high everyone must agree that there's a good possibility that we could shortly see an interest rate correction.
This said and rates do go up (0.5 - 1%) I really can't see this having a positive effect on the current platoing market.
I admit by saying in the original post "sell up and rent" does sound a bit drastic.
The best way to look at it is review your current situation, if in anyway renting is or could be a viable option I'd seriously consider it.
The possible negative outcome to this is house prices could go down by 10%, for me that's £20000 which to me is not far off what I'd expect to earn in a year in Aus. God knows how long £20000 would take me to save out there. (Looks worse when you look at it like that.)
Joe
Jan 22nd 2003, 3:37 pm
#23
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Joined: Jul 2002
Location: was london now glenelg sa
Posts: 455
Your rightjoe,dont listen to the so called experts they dont know.Last time ,around 89 ish,I sold a flat for 73000 because I was moving out of that area and decided to rent for a while.6MONTHS LATER identicle flats in the same block were selling for 42000 and the experts predicted nothing.Iwas lucky but it`s a lesson I shall not forget .If you feel happy with what equity you have in your property and are going to oz Iwould take what you`ve got and try not to think of how much more you could make.In shares and property it`s important to know when to jump. jockney
Jan 22nd 2003, 5:26 pm
#24
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Joined: Sep 2002
Posts: 2,030
Originally posted by pickletheplacid
And looking solely at the fact that interest rates are at a RECORD high everyone must agree that there's a good possibility that we could shortly see an interest rate correction.
This said and rates do go up (0.5 - 1%) I really can't see this having a positive effect on the current platoing market.
And looking solely at the fact that interest rates are at a RECORD high everyone must agree that there's a good possibility that we could shortly see an interest rate correction.
This said and rates do go up (0.5 - 1%) I really can't see this having a positive effect on the current platoing market.
the monetary policy committee vote this month was again 7-2 in favour of keeping the interest rates on hold. The 2 against voted for 0.25% decrease.
I admit by saying in the original post "sell up and rent" does sound a bit drastic
Whilst borrowing is high and record level of mortgages (warnings today issued by FSA), society has changed and demand for housing is still high and unemployment remains low, that in MY opinion the house I am in will still see a steady rise this year.
Around the new year there were plenty of experts voicing their opinion, some very pessimistic others predicting rises, just like all the non-expert opinions here
Jan 22nd 2003, 7:42 pm
#25
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Joined: Sep 2002
Location: Derby
Posts: 1,656
Listen to Radio 2 tomorrow!
Radio 2 has feature on this tomorrow (Thursday 23rd) on the Jeremy Vine show at lunch times. They are going to debate whether the market is rising, falling, crashing etc.
I'll be listening, but it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. If there is anything interesting I will let you know.... House could be on the market by tomorrow if it sounds bad!!
Mash..
I'll be listening, but it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. If there is anything interesting I will let you know.... House could be on the market by tomorrow if it sounds bad!!
Mash..
Originally posted by walaj
Around the new year there were plenty of experts voicing their opinion, some very pessimistic others predicting rises, just like all the non-expert opinions here
Around the new year there were plenty of experts voicing their opinion, some very pessimistic others predicting rises, just like all the non-expert opinions here
Jan 22nd 2003, 7:43 pm
#26
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Joined: Jan 2003
Location: Brisbane
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Originally posted by walaj
Around the new year there were plenty of experts voicing their opinion, some very pessimistic others predicting rises, just like all the non-expert opinions here
Around the new year there were plenty of experts voicing their opinion, some very pessimistic others predicting rises, just like all the non-expert opinions here
Mike. (VTIC)
Jan 24th 2003, 10:42 am
#27
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Joined: Jan 2003
Location: Brisbane
Posts: 378
Re: Listen to Radio 2 tomorrow!
Originally posted by mashiraz
Radio 2 has feature on this tomorrow (Thursday 23rd) on the Jeremy Vine show at lunch times. They are going to debate whether the market is rising, falling, crashing etc.
I'll be listening, but it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. If there is anything interesting I will let you know.... House could be on the market by tomorrow if it sounds bad!!
Mash..
Radio 2 has feature on this tomorrow (Thursday 23rd) on the Jeremy Vine show at lunch times. They are going to debate whether the market is rising, falling, crashing etc.
I'll be listening, but it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. If there is anything interesting I will let you know.... House could be on the market by tomorrow if it sounds bad!!
Mash..
Listen online at
http://www.bbc.co.uk/radio/aod/radio2.shtml
Mike.
Jan 24th 2003, 2:42 pm
#28
Banned
Joined: Aug 2002
Posts: 7,613
Re: Listen to Radio 2 tomorrow!
Originally posted by mashiraz
it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. Mash..
it really annoys me when everyone just thinks South, so I hope they realise the UK is bigger than that. Mash..
Cheers - Don
