grizzly bear

The John example is probably closest to mine and I would imagine most of my friends, although not sure about the 3.5% each year forever. I'd describe myself as a middle earner. The report was written by a firm of accountants remember - thats what they consider to be a middle earner. Left uni (russell group) graduate job 1997 on £17k Was earning £35k by 2000 Was earning £50k by 2003 Was earning £85k by 2006. Hasn't really increased since then - mainly as I changed to a less demanding job when I had kids.

I would just call agent back and say, I have seen that the house has gone SSTC on rightmore and we aren't interested in competing with anyone else, so probably best to let the other parties have the house and we'll not bother viewing at the weekend.

I hope you are right, but we now realize that we made a huge mistake by not buying in Sept 2008, when we sold our house (we moved area to get kids into particular school, also old house too small). Basically people seem prepared to pay 30-40% more now that then, prices here are MORE than the so called 2007 peak. And no shortage of buyers. Very depressing as we could have bought then (we were influenced by this site and now we are priced out. On the up side we have a good landlord...

Am I missing something. I am still v despondent. Doesn't look like any crash even a tiny one is happening here (outer north London). Do you mean its going to get interesting? Just spend this evening feel sad... came onto the site (haven't been on for a while) to cheer me up.

what do you mean exactly????

I need bear food just now, thanks!

I know... although might jump ship for perfect house if affordable. Sometimes I feel really down that we haven't bought - because we could have done and prices here have held up. FWIW we have a combined income of £150k (I work part time as we have kids), but if we didn't have our (significant) STR money (first bought in 1997) we wouldn't be able to buy even a small family house in outer London. Also worried about inflation, ie that interest rates will be left low so that debts (and savings) inflate away.

There was an article about this in this month's Cosmopolitan magazine. Basically saying that 25 year olds graduated with student loans, now no jobs and houses too expensive. I know not that surprising but was surprised to see it there!

Part of me thinks now is a dreadful time, but then others are buying and prices have been resilient so far (not that thats any indication). Happy to stay in rented house for a bit long, but not for several years more.

Basically STR in Sept 2008 because we wanted to move to different area/bigger house. Things still selling at peak prices (NW London, zone 3/4). Are we deluded thinking things will fall or should we bite the bullet and buy? TBH part of the problem is that nothing decent comes on and when it does goes for asking price often above what it would have got in 2007. Our rented house is fine, landlord reasonable, rent ok. But would be nice to have our own house.

not sure that this is ramping - my 2 sisters in law both just sold houses and looking to rent (London) and this was their experience - anything semi decent going striaghtaway and agents wanting sealed bids etc.

Really surprising, I got a letter through my door this morning from local branch of winkworth saying desperately seeking sellers/properties as prices have gone up, and that i would be be plesantly surprised to find up how much house worth. I am STR and was a bit to read their letter.

good. hope all the available money gets lent to good businesses which can make profits and also employ people rather than to speculate in housing.

Yes, it has been busy, but as others have said, its still not mainstream yet, although I did read both The Times and the FT today and both has bearish house price articles, as did todays Telegraph. I think as it becomes more mainstream, public sentiment will move more and helping to bring prices down further....

What annoys me is that overseas nationals can avoid tax on buying UK properties. They avoid it on buying, they avoid it on selling. That's what I was getting at.