HPCwhen?

Couldn't agree with you more. I'd love to know what account is actually taken of mortgage repayments in the inflation figures? Actually, i'd love to know what account is taken of prices generally! If inflation figures reflected the actual cost of buying a home and servicing a mortgage they would be off the scale! Does anyone else get the sense that we're all deluding ourselves over our so-called wealth? Slave harder to make the repayments on a massive mortage that those on an interest only mortgage may never own! Indentured labour anyone?

Thanks for the advice Vespasian, Doccyboy I can wait also but I've heard from various people (not experts, mind you) that the market will bottom out and begin to grow again slowly from March onwards. There is no factual basis for this however. I am however concerned that the softening we have seen to date will not translate into larger price drops that I really need to see. I'm pessimistic about the steeliness of first time buyers here - can they, will they hold out for real terms reductions or will they fall for the spin and hype spouted by the VI's that the softening represents a "buying o

Also saw the Pooler -Watson piece on the new-news tonite where they reported that they were asking vendors to adjust asking prices downward by 20%. Maybe its just me but this dosent seem to be reflected in the asking price of many of the properties that I'm even half interested in. As a result of the piece, I checked out Propertynews for the first time in 6 months and it makes for no happier reading than it did at the 'peak'. There is the occassional "Price Reduction'' but in all honesty the prices are still just as crazy - it basically amounts to spin designed to offload a few hovels at sli

WOO-HOOO!! After reading the last coupe of posts on this thread I'm utterly convinced that its here! The chaos in the financial markets today is regretable but it was the predictable result of the reckless lending that got us into this mess in the first place. The race by lenders to capture market share by introducing ever more 'innovative' financing deals has meant each taking greater and greater risks in the race to the bottom. I feel for the buyers who were suckered into the truely mammoth mortgages they were offering but they went into with there eyes open! Now that the crash is beginnin

I believe so. A few months ago we had a talk from a guy in Land Registry, who are privy to mortgage /deed data. He also advised buying in the NE of England. He also said that the NI market was overpriced and recomended not buying now. He suggested July would be the peak. If I remember correctly he said that the average mortgage in NI was >200K which I find unbelievable. He also reported that extent of re-mortgaging was massively greater now than 5 years ago. I cannot see how the price rises we have experienced in NI are sustainable especially in the more choppy economic waters that we s

200K for a 1 bed apartment on the Albertbridge Road beside the IBROX bar! I am growing increasingly despairing of the property market here. After looking at properties this time last year I backed out because they were just way too expensive - I thought it was the 'top' of the market! I saw exactly the same properties for sale last week for £100K more!!! I've given up trying to reason how people are prepared - far less able- to pay such prices. The thought of a 200K mortgage fills me with utter panic but apparently I must be the only one. 2 wks ago I saw folk camped outside an E.A's in ea