Meenzer 13982 Posted January 10, 2008 Share Posted January 10, 2008 I'm idly contemplating a move back up to Newcastle as one of many post-summer options, so I've been keeping an eye on house price movements and the like. It does appear that things are starting to slow down a bit, what with the supposed "credit crunch" and all - I've even seen Gosforth and Jesmond properties being slashed in price, although they were probably the most likely to be vastly overinflated in the first place. Sooo... how many of you lot already own? Are you concerned about the future? For those still to buy (and intending to do so) but currently priced out of the kind of places you really want, like me, are you willing to keep renting and waiting to see what happens over the next few years, or do you think it's a hopeless case and things will keep going up, up, up? Do any of you share the view that owning a house is pointless in the first place anyway? (etc. etc.) Sorry for coming over all Glasgow Mag, but I reckon it'd be interesting to get a wide range of views, and not just from those living in the north-east. I realise that house prices are the most dull dinner party conversation topic there is, but hey, I never claimed to be interesting. Link to comment Share on other sites More sharing options...
peasepud 59 Posted January 10, 2008 Share Posted January 10, 2008 My view is currently that buying now is a bad idea, personally Im happy to rent something thats out of my price range purchase wise and see what happens in the future. Link to comment Share on other sites More sharing options...
JawD 31 Posted January 10, 2008 Share Posted January 10, 2008 Im looking to move myself and have been keeping an eye on things. The ideal thing (for me) I think would be to sell and rent for a while, but I cant be arsed with the hassle. I'll prob end up moving and be done with it. Its all relative afterall, more so if you plan on making your next move long term. It does sicken me when I see a house I bought 6 years ago now for £90k now being worth over £400k, more so when I sold it for around £130k about 4 years ago ... House prices are stupidly high for what you get. but any down movement would be temporary imo and long term they will keep going up. Link to comment Share on other sites More sharing options...
Scottish Mag 3 Posted January 10, 2008 Share Posted January 10, 2008 I have just bought a house (not in Newcastle though) and was lucky enough to do a private sale. Other houses in the street have went over the same time period my deal has been set up and its looking like I may have saved myself £20k upwards than if it had went to the market... Link to comment Share on other sites More sharing options...
Glasgow Mag 0 Posted January 10, 2008 Share Posted January 10, 2008 I'm idly contemplating a move back up to Newcastle as one of many post-summer options, so I've been keeping an eye on house price movements and the like. It does appear that things are starting to slow down a bit, what with the supposed "credit crunch" and all - I've even seen Gosforth and Jesmond properties being slashed in price, although they were probably the most likely to be vastly overinflated in the first place. Sooo... how many of you lot already own? Are you concerned about the future? For those still to buy (and intending to do so) but currently priced out of the kind of places you really want, like me, are you willing to keep renting and waiting to see what happens over the next few years, or do you think it's a hopeless case and things will keep going up, up, up? Do any of you share the view that owning a house is pointless in the first place anyway? (etc. etc.) Sorry for coming over all Glasgow Mag, but I reckon it'd be interesting to get a wide range of views, and not just from those living in the north-east. I realise that house prices are the most dull dinner party conversation topic there is, but hey, I never claimed to be interesting. What do you mean by that Meenzer?! Link to comment Share on other sites More sharing options...
rikko 20 Posted January 10, 2008 Share Posted January 10, 2008 Do your research properly, certain houses down here are still going up very nicely in value (specifically the victorian terraced houses), while flats and semis have plummeted... I bought 12 months ago now, and i'm glad i did, had a good steady increase in value,in the long term with property i think you are basically going to be better off. Interest rates look set to come down in the short term and confidence is fairly low so i think this is a good time to buy, a decent chance of picking up a bargain, certainly at the lower end of the market! Link to comment Share on other sites More sharing options...
Matt 0 Posted January 10, 2008 Share Posted January 10, 2008 Being in London I have zero chance of buying a house and have no intention to. No idea where that will leave me when I eventually move somewhere else and buying makes more sense. Screwed, probably. Link to comment Share on other sites More sharing options...
sammynb 2929 Posted January 10, 2008 Share Posted January 10, 2008 We are looking at the moment and have a considerable sum in cash but everything we like is about $200k more than what we have. Not a problem I hear you say, true but the lass works for one of the banks in the legal processing of repossed houses and it's know to everyone in the financial industry interest rates are about to go up. Problem is those selling property still want to believe it's a sellers market. So what do you do? Continue wasting money on rent when you have enough to buy something but not quite what you want? Borrow $200k and buy what you want now, although it is overpriced by the amount you need to borrow and risk rising interest rates. Buy something less than you want and make do? One factor that also needs to be considered is for what we are looking at stamp duty (government tax) is about $30-50k! Link to comment Share on other sites More sharing options...
Kid Dynamite 5890 Posted January 10, 2008 Share Posted January 10, 2008 Me and my lass will be buying a house at some point int he next 12 months. I cant see the point in hoying money down the drain on rent when for a bit more the money is going into something that will see you good in years to come. Im lucky in that CLS is fairly cheap for houses Link to comment Share on other sites More sharing options...
Tom 13811 Posted January 11, 2008 Share Posted January 11, 2008 Me and my lass will be buying a house at some point int he next 12 months. I cant see the point in hoying money down the drain on rent when for a bit more the money is going into something that will see you good in years to come. Im lucky in that CLS is fairly cheap for houses Aye. but whats the house insurance like? Link to comment Share on other sites More sharing options...
sweetleftpeg 0 Posted January 11, 2008 Share Posted January 11, 2008 I would love to buy but we just can't afford to. Well, I could probably buy the falt I was in now if the landlord agreed to sell but everyone who owns flats round here are having real problems shifting them at the prices they want. My brother bought 2 flats for £10k each about 7 years ago and they must be worth £90k each now the lucky bastid. Link to comment Share on other sites More sharing options...
Meenzer 13982 Posted January 11, 2008 Author Share Posted January 11, 2008 What do you mean by that Meenzer?! Random topic-starting/interrogation-style bombardment. No offence meant. Link to comment Share on other sites More sharing options...
Kid Dynamite 5890 Posted January 11, 2008 Share Posted January 11, 2008 http://search.reedsrains.co.uk/detailsLite...rtyid=465052410 You can get relatively new build 2 or 3 bedroom semis around me for between £115-130k That would cost you a quarter million down south. Link to comment Share on other sites More sharing options...
Guest alex Posted January 11, 2008 Share Posted January 11, 2008 Location, location, location Link to comment Share on other sites More sharing options...
Meenzer 13982 Posted January 11, 2008 Author Share Posted January 11, 2008 http://search.reedsrains.co.uk/detailsLite...rtyid=465052410 You can get relatively new build 2 or 3 bedroom semis around me for between £115-130k That would cost you a quarter million down south. At least. There's a one-bedroom flat next-door to me going for £235k. And christ knows I don't exactly live in a salubrious part of Lahndan. Link to comment Share on other sites More sharing options...
Kid Dynamite 5890 Posted January 11, 2008 Share Posted January 11, 2008 Location, location, location Nowt wrong with round here 5 minutes to durham, 10 to newcastle. 30 seconds from the A1, Main Line train station, Decent night out, surrounded by plenty of countryside Link to comment Share on other sites More sharing options...
rikko 20 Posted January 11, 2008 Share Posted January 11, 2008 http://search.reedsrains.co.uk/detailsLite...rtyid=465052410 You can get relatively new build 2 or 3 bedroom semis around me for between £115-130k That would cost you a quarter million down south. It's got a "master bedroom" that would struggle to take a double bed! Link to comment Share on other sites More sharing options...
Kid Dynamite 5890 Posted January 11, 2008 Share Posted January 11, 2008 Theres only gona be 2 of us living there so as long as there is enough room for me to lie down horizontally il be happy Link to comment Share on other sites More sharing options...
khay 8 Posted January 11, 2008 Share Posted January 11, 2008 Theres only gona be 2 of us living there so as long as there is enough room for me to lie down horizontally il be happy What about all your coin-ups? Link to comment Share on other sites More sharing options...
JawD 31 Posted January 11, 2008 Share Posted January 11, 2008 Theres only gona be 2 of us living there so as long as there is enough room for me to lie down horizontally il be happy What about all your coin-ups? Thats the other "one" Link to comment Share on other sites More sharing options...
toontoon 0 Posted January 11, 2008 Share Posted January 11, 2008 Fucking shit Cant get on the housing ladder because of the prices. I want me own flat but cant get a mortgage Link to comment Share on other sites More sharing options...
Radgina 1 Posted January 12, 2008 Share Posted January 12, 2008 Welll as some of you may already know we are being evicted from here so today I will mostly be viewing properties to rent ! Estate agents are fuckwits when your only wanting to rent ...they'll bite your frickin hand off if u wanna buy somewhere but "only" renting and they dont even return your phone calls Wish me luck !!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Gemmill 34181 Posted January 12, 2008 Share Posted January 12, 2008 My view is currently that buying now is a bad idea, personally Im happy to rent something thats out of my price range purchase wise and see what happens in the future. I would wager that you've spent a lot more on rent than you're ever likely to save in the event of any house price crash, should one be forthcoming though. I have to read through all the house price survey shit at work, and there's a definite correction on the way but not a crash according to most. If you're going to buy I would hold off for a little bit, especially if you're still living at home/somehow rent-free. Link to comment Share on other sites More sharing options...
sammynb 2929 Posted January 12, 2008 Share Posted January 12, 2008 Welll as some of you may already know we are being evicted from here so today I will mostly be viewing properties to rent ! Estate agents are fuckwits when your only wanting to rent ...they'll bite your frickin hand off if u wanna buy somewhere but "only" renting and they dont even return your phone calls Wish me luck !!!!!!!!!!!!!!!! Good luck Radgi. I know where there is a really good value 2 bedroom unit available for a reasonable price. The compute will be a bit of a bugger though Link to comment Share on other sites More sharing options...
Holden McGroin 4821 Posted January 12, 2008 Share Posted January 12, 2008 I got on the ladder nearly 3 years ago. My flat has gone up £40k in that time. If I was 1st time buyer now I wouldnt have a hope in hell of buying a desired property... Link to comment Share on other sites More sharing options...
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