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About chiefofwales

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  1. I've been a long time lurker and very rare poster. I have followed and studied this forum and lots of associated reading (Say Goodbye to all that buy to let to name one) for the last few years. It has been such a fantastic resource and breath of fresh air. However, my HPC confidence has come at a cost with my family and friends who think I am an absolute idiot. This is because for the last 5 years or so of my wife and I not buying a house, we've seen prices rise where even if there were a correction now we'd still be in worse off. The amount of times I have been told to buy now, what are you waiting for, rent is dead money etc is probably symptomatic of everyone else on here! But my belief is also being tested and I don't know how much longer we can all wait. The point of my post is do people believe this is going to happen and within the next couple of years? We want to start a family and the thought of renting while raising a child is not something we want to do (given our current experiences to date). I am losing faith and this is the only place which seems sane.
  2. Made a decision over the weekend (having tried hard to persuade my other half) to carry on renting for another year or so as the madness seems to continue. My one issue is even if prices drop 50+% they are still way too overpriced...
  3. Exactly! There's a massive over supply of accommodation now for students here and it's a bubble that's waiting to be burst very soon
  4. Like many others have mentioned, London and the SE are in a different universe to many other parts of the UK. I've always thought I’ve been lucky to live in South Wales in comparison to many other places. The job market might not be quite as attractive as some other cities but Cardiff is a pretty cheap city to live in compared to others (house prices are still inflated but transport costs, rents etc.). I’ve been learning so much through HPC and it’s been so good to have a site that backs up some of my previous gut feelings that taking on a debt of 200k+ for a small shoebox can’t be right. I’m close to persuading my other half for us to move outside of Cardiff (about 20 – 25 mins commute in ) where you can get a decent 3 bed house for around 150 – 160k.
  5. Former head of civil service explains that rising London house prices are damaging the sharing of knowledge between London and Edinburgh, Cardiff and Belfast.. http://www.civilserviceworld.com/articles/news/gus-odonnell-london-house-prices-making-it-harder-civil-service-share-knowledge
  6. Hello! Myself and my partner have heeded the good advice from HPC and put off buying for a while, at least until the summer / autumn. I'm looking for some help from people living / have lived in South Wales.. We both work in Cardiff (pretty central) and though I have lived here all my life I think that the areas we want to live in are just way overpriced. I've started to look a bit outside, specifically Pontyclun, Pontypridd and Pecoed given the easy access to the train and good value house prices. We're looking for 3 bed with the view to set up a family in a year or two. I don't want a massive mortgage hanging round our necks and these places may offer that opportunity.. Anyone with any thoughts on these areas? Any help hugely appreciated
  7. Would that be from the asking or 30 below 2007 peak?
  8. With the prospect of a HPC I'm interested to hear from posters on here at what point would you buy a house? How far would prices have to fall before you bought?
  9. Does anyone on here keep up with Martin Armstrong? I find him interesting though he has been far from right about everything Anyway, there's a new real estate report available (400 dollars) which includes a section in the UK.. http://www.armstrongeconomics.com/archives/41448
  10. At a NYE party and got speaking to a couple who have bought a flat in Harrow (with the help of a wad of cash from parents..). New build, never saw the floor plan just knew it had two bedrooms. Cost them £275k with a 20% HTB equity loan courtesy of HMG. The one thing that struck me was the comment that in a few years they will buy somewhere else and try to "let it out" Just so wrong.
  11. Yes it does strike me everyone getting in on how house prices only ever go up when there's ample evidence to prove that's not the case. An alternate scenario I am now thinking about is to continue renting but look at getting a slightly bigger / less scatty flat or house. My stumbling block there is that my other half will protest again that we're not paying into anything...
  12. Just a quick update and thank you to everyne for their words of wisom Bland unsight - read your book this week and also got my Dad to start reading it which is great, very insightful. I've managed to convinve my other half to stay put for a while even though the place we're in isn't ideal at all. I was away with work this week and had the conversation with everyone about buying. Everyone was of the opinion to "Go to the absolute maximum, buy now" etc...
  13. Again thank you for all the replies, really appreciated. It's been quite difficult the last few weeks discussing with parents / fiancee about my thoughts on the property market and that we're due a big correction (fiance's aunty is now a BTL landlord...). Saying something that annoys everyone else and who think you're a fool is a bit tricky! However, it's probably a bit harder to predict here in Cardiff due to some of the reasons above. The North of Cardiff, where we've been looking is very popular due to the schools but you can't help but think it's all due for a bit of a fall. My big issue is convincing my other half who thinks I'm a barking up the wrong tree though more recently have been getting somewhere.. A recent example which I don't know what to think of is for this property here: http://www.rightmove.co.uk/property-for-sale/property-35184171.html?premiumA=trueIt was originally listed for £220k in October, I put in an offer a couple of weeks ago at 195k...rejected, wanted more but I just walked away. I got a call yesterday from the estate agents saying they'd like to now accept. Good news on one hand but makes me think that it's still probably overpriced...
  14. I watched this last night, brings to life the out of control London property market. That one guy spending 1.4m on a flat in Canary Wharf without seeing the property, dimensions, floor plans etc., just madness to me. Also, 350k for a one bed flat looking out onto another concrete wall….
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