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Saver II

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  1. Treasury forecasts house prices will fall by 1% By Chris Giles and Scheherazade Daneshkhu Published: March 17 2005 21:54 | Last updated: March 17 2005 21:54 The Treasury expects house prices to fall this year, according to Financial Times calculations. A little-noticed Budget document, published only on the internet, includes the Treasury's internal forecast of the ratio of house prices to earnings. Using plausible estimates for the Treasury's preferred measure of earnings growth, the figures suggest that Gordon Brown expects house prices to fall by more than 1 per cent by the end of
  2. Interesting thread. As an (eventual) FTB I have found that my parents generation tend to think the prices are ridiculous and unsustainable, but don't react in any discernable way to talk of a crash. Being of a generation that experienced the final stages of rationing they tend to be a fairly sensible bunch! Sadly my FTB friends (late twenties) have only ever experienced rising prices since we started working and I suspect are a bit more tuned / brainwashed to the "you can't go wrong with property" mantra. I nearly got into a heated argument with one in the pub the other day, but what can y
  3. At first sight, this will make naff all difference to anyone in the South East, however is it possible that.... Houses in the cheaper areas (North, Wales etc) will now have a "break". If, as suggested by Topher, these houses have to be reduced below this psychological level to sell then this will have an effect on the house price indices. From various discussions it seems that these indeces have only been kept positive by rises in the North, Wales etc. Prices in London seem to be steady at worst, falling at best. Therefore if prices fall in the north, the indices will take a sharp turn
  4. I was thinking that myself the other day.. After all TTRTR's tosh earlier on in the year about how "this year I WILL be putting rents up" because "the demand is there" etc etc... Well I just wanted to gloat because I've just negotiated a second year (not far from his neckof the woods with no increase! Add that to the discount we got from the previous chaps rent, using 3 % for inflation (a bit generous), and the fact the the house hasn't risen a jot in price (fact btw) our kind landlord is now 25% worse off!
  5. Good point PatientFTB Having graduated in 1998 & watched prices skyrocket faster than I could save for a deposit, I was becoming more and more despondant and couldn't see myself ever affording a place of my own. My personal epiphany was the Economist article of May '03 that explained the market, bubbles etc. Since then I have been reading more and more about economics and have gained a sense of hope! The trouble is that although I can see reasons why the market should fall, boy is it taking its time! They don't call economics the dismal science for nothing! I too have very good frien
  6. I love this thread! I suspect that we could all post a dozen examples each, but there's a flat round my way that must have been on sale for approaching a year now. Asking price £275k. Needless to say, the two others in the same block with lower asking prices have sold! Asking prices £250k and £225k. Now I'm not quite sure what the flat numbers were, but have a look at this list (from ourproperty), and keep a special eye out for flat 1! 1st Oct 2004, Flat 1, £220,000 27th Sep 2004, Flat 1, £240,000 21st May 2004, Flat 8, £202,500 13th Feb 2004, Flat 15, £219,950 7th Jan 2004,
  7. Oh look! It's another development that has a combined Lounge / Diner / Kitchen. Am I the only person in the UK that doesn't want their sofa to smell of garlic / burnt toast / whatever you had for tea? Of course if you are a better cook than me, and manage to hold a sophisticated dinner party for your yuppy friends (the only two in the area - and coincidentally the only two that will fit into your poky flat) then you will still have to look at all your dirty saucepans while you eat and veg out afterwards! Lets's all worship at the alter of "lifestyle" without thinking about the pracicalit
  8. I'm afraid that I gave up on Lx3 a LONG time ago. The sheer smugness of it all was giving me high blood pressure! I'm gutted I missed last nights though. I used to live just off Newington Green and could have used a laugh! It does well to pretend to be Islington, but in reality it takes flippin' ages to get anywhere on the bus and is, err, fairly gritty to say the least! The sad thing is that 10 years ago you could buy a 5 bed house for 40K round there! Still, I did the renting fratenity proud. Moved out after 6 months (due to a leaking roof), kept the deposit and forced the landlord i
  9. Yeah - one of the first things I saw this morning! If it makes it into a cartoon, what's next I wonder?! Sadly I don't have access to a scanner, but for those who missed it, a chap is sitting on the sofa watching a TV screen that has "Reposession, Reposession, Reposession" on it. He is shouting "There's a new property programme starting Darling" Pretty funny, if slightly old joke for those on this forum!
  10. Aww, come on folks, it's not that bad! I'm with RichM. Cycling is THE way forward! It used to take me 1.25 hours to get to work by bus & tube but only 45 mins (+ 5 min shower) by bike! Yesterday I went by bus 7 got caught in a traffic jam at 11pm! Crazy! Oh yes - and I've seen the bloke on the quad bike too. Not the Penny Farthing though!
  11. Hi Twopey, I bet they are described as "Luxury Apartments" too?! Concur with the other comments on here - all the new build round my way are tiny shoeboxes on very busy roads, next to railway lines, gas holders etc.
  12. Thought you might be interested in a couple of anecdotes Case 1: Friends bought in Kent for £105 in Feb '04. Now having to sell as the can no longer afford it. Should make a profit at this stage, but very little cushion against a fall. Case 2: Colleague in bought in SE London in '03. Not sure about the purchase price but got a 1 year fix at 3.5%. Has suddenly realised that after Jan she will no longer be able to afford it. Case 3: colleague bought in Essex in April. Didn't get a fixed rate. Now has only £50 spare cash a month to live on after mortgage, Council Tax, Travel etc Su
  13. Just caught this lovely snippet while snooping around on Bloomberg. Make of it what you will! Individual Insolvencies NSA 3Q04: total 12,227 yoy +31.6% compulsory 9,315 yoy +29.0% voluntary 2,912 yoy 40.7% 2Q04: total 11,535 yoy +29.8% compulsory 9,060 yoy +30.4% voluntary 2,475 yoy 27.5% 1Q04: total 10,665 yoy +26.6% compulsory 8,524 yoy +23.3% voluntary 2,141 yoy 41.4% 4Q03: total 8,998 yoy +21.2% compulsory 6,940 yoy +20.8% voluntary 2,058 yoy 22.8% 3Q03: total 9,291 yoy +17.7% compulsory 7,221 yoy +15.6% voluntary 2,070 yoy 26.0% 2Q03: total 8,889 yoy +13.1% com
  14. I think this was touched on in one of the other threads, but alas, the Evening Standard is up to it's usual tricks and ignoring the gathering storm clouds. Today's lunchtime headline? "Jail for Junk Email Conman" While obviously good news, sadly the Halifax figures are relegated to page 2. "house price fall is biggest in 4 years" Still prominent enough for people to read over someone else's shoulder on the tube though!
  15. About time too! If I get my crystal ball out for a minute and make Mystic Meg type noises, I foresee lots of programmes along the lines of... "How to make money by clearing out your attic, logging onto Ebay, and selling all the useless tat that you have bought on credit over the last two years and thus (just about) make your over-extended mortgage payment this month" I reckon it's a winner, although perhaps the title needs to be a bit snappier! I'm sure I saw a trailer for a programme like this the other night, but I can't remember what it was called .
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