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House Prices

MikeB

Active member
Joined
Apr 1, 2004
Messages
3,315
Location
Heysham, Morecambe
The house next door to us has been sold twice in the space of 18 months. The most recent sale (3 months ago) was for a staggering £86,000 more than the first sale! Crazy.
 

Ian Mancey

Active member
Joined
Mar 11, 2006
Messages
1,885
Location
Exeter
The house next door to us has been sold twice in the space of 18 months. The most recent sale (3 months ago) was for a staggering £86,000 more than the first sale! Crazy.
Mike
I really dont know how first time buyers afford to start off? It was hard when we first bought 20 years ago but now! worries the life out of me. Around Guildford you are looking at 180K for a bedsit!
 

Oldsmobile-88

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Joined
Feb 11, 2005
Messages
26,948
Location
In RaWZ we trust....Amen.
While banks & Building societys continue to lend up to 6x salary & allow a mortgage term of up to 35 years these crazy prices will continue to rise.

Caveat emptor.....because the lenders dont care ,if it all goes tits up.
 

grecIAN Harris

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Joined
Mar 9, 2004
Messages
27,917
Location
Back home in the village
I'm glad me and the missus got on the property ladder when we did (about 9 years ago) because in repayment terms we'd probably be the same amount we are now for what we had then. We bought our first house, (a 2 bed terrace just off of Cowley Bridge Road) for £44000. We bought the house we are now living in (a brand new 4 bed townhouse in Winkleigh) for £235000.
 

Oldsmobile-88

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Feb 11, 2005
Messages
26,948
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In RaWZ we trust....Amen.
A nice village it is too.....The prices are crazy in Exeter & if you are prepared to move out a few miles,you can get more 'bang for your bucks'
 

ecfc girl

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Joined
Mar 3, 2004
Messages
7,095
Location
Exeter
House prices have risen in my street by about 30k since I bought mine 18 months ago, and I live in one of the cheaper areas to buy in Exeter.
It's ridiculous, my kids will never have a place of their own until I pop my clogs and even then it'll still be a struggle fior them I reckon.
 

information_ministry

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Joined
Mar 9, 2004
Messages
6,739
Location
exeter
England will become like most of Europe with a few owners of loads of property and everyone else renting.

i_m
 

Ian Mancey

Active member
Joined
Mar 11, 2006
Messages
1,885
Location
Exeter
England will become like most of Europe with a few owners of loads of property and everyone else renting.

i_m
I agree IM, but rent is so expensive as well!!! where will it end?
 

Oli

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Joined
Mar 4, 2004
Messages
13,916
Location
LONDON TOWN
Renting is a lot cheaper than buying in my experience, having rented for the last 10 years I would say it is about 1/2 the price and much less hassle.

I am now in a position to buy, but I think the next 12-24 months will see some changes in house prices. The recent crunch in the US has had a minimal impact here so far, but the fella who predicted it has said that we will probably follow in time. Couple of hikes in interest rates and there should be a good few reasonable repo properties around.

It is not the lenders fault in some sense, people should take personal responsibility for their own finances.
 

MikeB

Active member
Joined
Apr 1, 2004
Messages
3,315
Location
Heysham, Morecambe
There are plenty of really good three-bedroom houses aorund here that can be had from£550 to £600 per month. Less than I pay for the mortgage anyway!
 
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