JohnnyFartPants Posted 5 February, 2009 Share Posted 5 February, 2009 Last month saw the first slight increase in house prices since February last years tiny rise of .01%. A 1.9% rise has wiped out the 1.6% drop that happened in December. It is early days but maybe with the interest drop once again the property ladder may start to get the economy moving again. It isn't by any means fantastic news but anything is better than nothing right now. Link to comment Share on other sites More sharing options...
thesaint sfc Posted 5 February, 2009 Share Posted 5 February, 2009 I'm praying to god that they keep dropping. Someone said to me the other day that they thought that house prices were going to fall another 30%. I'm waiting for that point before I buy my first place. Your good news is my bad news! Link to comment Share on other sites More sharing options...
JohnnyFartPants Posted 5 February, 2009 Author Share Posted 5 February, 2009 I'm praying to god that they keep dropping. Someone said to me the other day that they thought that house prices were going to fall another 30%. I'm waiting for that point before I buy my first place. Your good news is my bad news! Not really. It depends what you want, a house at 30% less and your job insecure or pay the current price and your job security returns? Link to comment Share on other sites More sharing options...
Jillyanne Posted 5 February, 2009 Share Posted 5 February, 2009 I'm praying to god that they keep dropping. Someone said to me the other day that they thought that house prices were going to fall another 30%. I'm waiting for that point before I buy my first place. Your good news is my bad news! Will never happen now the interest rates have been slashed again. Link to comment Share on other sites More sharing options...
TheCholulaKid Posted 5 February, 2009 Share Posted 5 February, 2009 Not really. It depends what you want, a house at 30% less and your job insecure or pay the current price and your job security returns? To be fair, my job security isn't affected by the economy. Long live the house price drop!!! Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 5 February, 2009 Share Posted 5 February, 2009 To be fair, my job security isn't affected by the economy. Long live the house price drop!!! You sir are a very lucky man then, guarenteed job security is as good as winning a couple of hundred thousand pounds in the Lottery Link to comment Share on other sites More sharing options...
thesaint sfc Posted 6 February, 2009 Share Posted 6 February, 2009 To be fair, my job security isn't affected by the economy. Long live the house price drop!!! Same here. Link to comment Share on other sites More sharing options...
Thedelldays Posted 6 February, 2009 Share Posted 6 February, 2009 same here Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 6 February, 2009 Share Posted 6 February, 2009 same here You mean you trust politicians to keep spending money on the defence forces at the present level :smt046 Link to comment Share on other sites More sharing options...
Thedelldays Posted 6 February, 2009 Share Posted 6 February, 2009 You mean you trust politicians to keep spending money on the defence forces at the present level :smt046 my job has severe levels of man power shortages..so even if they did a cull in the navy (has not happened since the early 90's after the end of the cold war and they realised it was a mistake) my part of the forces would STILL need to recruit... if you watch telly in the evenings you will notice the amount of recruiting adverts for the forces..the credit crunch is the best recruiting/retention thing that can happen... even if they did make me redundant...going by what happened in the early 90's...i will no doubt be very much 'quids in'...but this will not happen Link to comment Share on other sites More sharing options...
JohnnyFartPants Posted 6 February, 2009 Author Share Posted 6 February, 2009 my job has severe levels of man power shortages..so even if they did a cull in the navy (has not happened since the early 90's after the end of the cold war and they realised it was a mistake) my part of the forces would STILL need to recruit... if you watch telly in the evenings you will notice the amount of recruiting adverts for the forces..the credit crunch is the best recruiting/retention thing that can happen... even if they did make me redundant...going by what happened in the early 90's...i will no doubt be very much 'quids in'...but this will not happen I have the armed forces to thank for my recent career change too. Link to comment Share on other sites More sharing options...
miserableoldgit Posted 6 February, 2009 Share Posted 6 February, 2009 Last month saw the first slight increase in house prices since February last years tiny rise of .01%. A 1.9% rise has wiped out the 1.6% drop that happened in December. It is early days but maybe with the interest drop once again the property ladder may start to get the economy moving again. It isn't by any means fantastic news but anything is better than nothing right now. As someone who works in the house-building industry, and just about holding on to a job, I do see this as a positive glimmer. The health of our industry is a good indicator of how the economy in general is doing. I do appreciate what rising house prices mean to (particularly) first time buyers, but you can only buy a house, even a very cheap one, if you have an income. Link to comment Share on other sites More sharing options...
St Landrew Posted 11 February, 2009 Share Posted 11 February, 2009 It's always a matter of time with house prices. In a country where the population pressure is very great, building land and house prices are always going to be at a premium. It's just a case of how high. Those people wishing to make a real killing in the house market need to look closely at repossessions. If you lazily wait for house prices to fall, you may find that the market has picked up and is away again. And once it does, confidence in the economy will resume. It's not all doom and gloom, and in fact, in the first time buyers market/small house, I expect a small rise. Certainly, 30% is possible off the top end. But I don't see it wiped off the average house price. Link to comment Share on other sites More sharing options...
bridge too far Posted 11 February, 2009 Share Posted 11 February, 2009 One of my daughters works for an Estate Agent (she's not an estate agent herself I add hastily ). Her company is noticing a fair increase in enquiries and prices stabilising too. Link to comment Share on other sites More sharing options...
Wilko Posted 11 February, 2009 Share Posted 11 February, 2009 Good news for house owners, but what of people who aspire to one day buy a house? As far as I can see, unless house prices carry on falling I'll never have a chance of buying one. We are very likely to end up with one generation of people who have scrimped and saved to get a mortgage, while their children are left to rent until they inherit the house. Not good. Link to comment Share on other sites More sharing options...
OldNick Posted 11 February, 2009 Share Posted 11 February, 2009 One of my daughters works for an Estate Agent (she's not an estate agent herself I add hastily ). Her company is noticing a fair increase in enquiries and prices stabilising too.BTF I think encouraging people to buy a house at present would be unwise.(not saying that you are) Our own bank of England are saying we are in for a very bad recession. The estate agents are now trying to whip up a frenzy by talking up the market.i even heard a report saying that there is going to be a housing shortage next year and so it is a god time to buy. Nobody , NOBODY knows what is likely to happen, this may be the good old days in a years time. It is time to baton down the hatches and get rid of as much debt as you possibly can even if it means not having a new car or holiday. I read that the former chairman of HBOS said theor problems were down to the credit markets drying up, lol.nothing to do with letting the derivitive dealers and the rocket scientists being given a free reign. ps I notice your friend Mr Brown's financial advisor has resigned, boy are the chickens coming home to roost for us all due to having those clowns in charge. Link to comment Share on other sites More sharing options...
bridge too far Posted 11 February, 2009 Share Posted 11 February, 2009 Good news for house owners, but what of people who aspire to one day buy a house? As far as I can see, unless house prices carry on falling I'll never have a chance of buying one. We are very likely to end up with one generation of people who have scrimped and saved to get a mortgage, while their children are left to rent until they inherit the house. Not good. I have to admit I'm old enough to remember the 'good old days' when getting on the ladder was as tough as it is now. In those days you could only EVER borrow 3 x salary and a wife's income wasn't included in the calculation. When I was first married we had to rent for a couple of years (in spite of my husband's good wage) because we hadn't been able to save up a deposit (because my husband had only recently graduated / started work). Fortunately his company relocated and we were given relocation expenses that acted as a deposit. What I guess I'm saying is that it is often tough at the beginning and always has been but, given that this country is fixated on owning property, the market WILL adjust so that first-time buyers can get on the bottom rung. It has to, otherwise the whole market goes t*ts up and the economy wouldn't cope with that. There are schemes out there to help. My daughter and her teacher husband are waiting to hear if their application for a key worker assistance scheme has been successful so that they can buy their first place. Link to comment Share on other sites More sharing options...
Special K Posted 11 February, 2009 Share Posted 11 February, 2009 Good news for house owners, but what of people who aspire to one day buy a house? As far as I can see, unless house prices carry on falling I'll never have a chance of buying one. We are very likely to end up with one generation of people who have scrimped and saved to get a mortgage, while their children are left to rent until they inherit the house. Not good. It's not all bad for the first time buyer, but it will take a long time to get better. There are larger numbers of shared ownerships from Housing Associations planned and once the banks align their lending criteria, the current position of 25% deposits will decline. However, bureaucracy within HA's and planning departments mean it takes a long time for a project to come to fruition. And while the 1st time buyer is not able to buy the chains are very small. Overall there has to be a more cohesive housing policy in this country. Thus far developers and housebuilders have extracted as much revenue from a site as possible, sometimes although not always, at the expense of what is required to suit the local econmony and population. For private development, I fail to see any improvement in the current situation, for some time. The main housebuilders share prices are poor, having wiped multi millions of the company values. Most have got land banks worth a fraction of what they paid for them and they are having to renegotiate the covenants on the lending agreements they have with their banks. Not good times and it will get worse as fewer units are sold. Sure, there are always pockets of land where values remain buoyant, but the general picture is depressing. This recession has kicked the arse out of the housebuilding industry and it will take an awful long time to resolve itself. Link to comment Share on other sites More sharing options...
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