amara

FP rules

I agree - with no offence to snuffle_uk meant - and also don't see any irony in saying I could afford the mortgage but would prefer to wait. It's just sensible. At the moment, a loan on that flat would be more than my rent (am renting a lovely house with large garden in walking distance to shops/station/schools). Have watched the property market locally for the last few years and (with thanks to this forum) feel pretty well informed. Why would I jump to buy now, pay more than I do in rent and watch the equity I contribute eroding month by month, when I can wait & take out a smaller mortgage, with lower repayments and therefore more money in my pocket to enjoy life (the way I do now!) in 12 months time? I definitely sense among friends/colleagues that the "panic" to get on the ladder has evaporated, and those who scraped on in late 2007 are looking nervous,

If it's any help, I'm watching rentals as well as sales on Right Move with Property Bee. Am looking in KT area and have noticed plenty of rent reductions and lots of property hanging around (or going "let agreed" then coming back as "available" a week or so later).

I've been watching Kingston/Surbiton/New Malden/Raynes Park on Right Move since January with Property Bee and it's been very interesting! biggest price drop I've seen so far is £80k in Surbiton (well, more like Tolworth) and i think more is likely to follow as the house in question has been on the market since Jan & gone under offer twice with no joy, Overall lots of property on Right Move has been around for months, lots dropping by £10k here and £10k there, going under offer then coming back on as available, and there are some sellers still holding out for last year's asking price. I remain convinced that a good 3 bed house, currently listed for approx £350k will be £270k this time next year (if not lower!). I can afford £350k now but think it's madness to make probably the biggest purchase of my life on a clearly depreciating asset (yes I am a ftb). Why anyone would by now is beyond me, but people are - some work colleagues are selling locally, although they've been through the "ftb making an offer then pulling out" scenario a few times over and are accepting offers well below asking - having said that nothing has completed as yet. Oh, and I've just seen the first EA shut up shop in the high street this am.

Been using Property Bee only about a month & just got the new version today - it's amazing! fills in all the gaps going back many months! some very interesting reductions... Thank you Beerhunter & all the other users!

I wonder this myself.. was told today that this is just "a blip" and that "now is a great time for first time buyers"... was from someone trying to sell, and they are getting second viewings so are comfortably feeling confident (though I believe no offers yet!) I (a potential first time buyer) said I wouldn't touch property for at least another 18 months!.. didn't go down too well...

Hi everyone, I admit to being a lurker for a few weeks - sorry! Read the post about guests not registering & knew that was me but no longer! Thanks for all the stats and useful info, is great to know there are so many likeminded people out there!