Good afternoon all
I found this site quite by accident however was enthralled by what I discovered and therefore have felt complelled to keep an eye on it since. It is only now, after quite some time, that I find myself taking the plunge and adding my voice, thougths and opinions to the myriad of topics which are created daily. I am looking forward to the debate offered by the members of this site and only hope I can keep up however I would ask that you to bear (no pun intended...) with me initially as I am new to this forum.
Now a little about me. I do not yet own a house however I would like to. I have (what can be considered 'up north') to be a sizable deposit however I am not prepared to buy at present due to (what I consider) the ridiculous prices currently being placed on shoe box sized properties by estate agents. I feel I am being held to ransom by the sellers who, rightly or wrongly, are looking for the 'top end' price and will hold out regardless of how long they have to wait; it is, after all, still a sellers' market.
I do feel a housing correction is just around the corner however I would only suspect the falls to be back to the pricing levels of late 2003 to mid 2004 at best which, at the time, I also considered to be ridiculously over priced so I am not gaining in any sense of the word.
I also feel that both the BOE and the Government are to blame for this current housing crisis. Both have constantly ignored the rampant HPI (in the case of TB and GB, for obvious reasons, another term in office) as this has fuelled the economy for the past 6 or so years. Also, steps have not been taken, despite report after report, to address the supply shortage (which is clearly evident in some parts of the UK) which we are always being told is one of the main drivers behind this current (long lasting) boom.
With regard to immigration, I am not against allowing migrant workers into the country however I expect the government to address the issue of a housing/school/doctor/hospital/police shortage which will come about as a result of this increased population.
Anyhow, enough of my thoughts. This is, after all my first post and I would like to save some for another day.
Have a nice day.