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guitarman001

Have Your Plans Changed?

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With what seems like the new government trying to prop up house prices as much as Labour did, has this changed your plans?

If it is going to take another 2-4 years, will you wait? Will you give in and join the party? Will you leave the country? Any other option?

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My plans have chnaged, I'm on the look out for someting but will be "insulting" many EAs along the way with some very low offers. I want a house but can see the looming 20% drop (over the mid term) and I dont want to take the hit.

Edited by FIGGY

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With what seems like the new government trying to prop up house prices as much as Labour did, has this changed your plans?

If it is going to take another 2-4 years, will you wait? Will you give in and join the party? Will you leave the country? Any other option?

No rush, I'm expecting prices to fall 30% to 40% over the next few years and in the meantime I'm much better off renting.

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Still want to move up. Have a decent six figure sum in the bank which is off-setting my current mortgage.

I do not want to buy now and wipe out a huge chunk of hard earned over night potentially.

IMHO the cuts have not yet bitten. The government and BOE is desperately trying to prop up the failing housing market because they know how many are on the edge.

There is nowhere to go on interest rates other than up.

VAT hikes;

Fuel prices;

Inflation;

Lack of inflationary pay increases;

Job security;

Mortgage availability ;

and most importantly sentiment - all these add up to price falls by any common sense measure.

So no, my plans have not changed - wait and see. Strange times ahead.

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I'm more concerned about the return of the (deferred) financial crisis than I am about buying anywhere.

You can kick the can further down the road but eventually you will run out of road.

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This site is the only thing that keeps me believing that at some point, property prices will have to return to a more sensible level. The problem is that as time goes on, this point in the future just seems to get further and further away. The VIs seem to be even more powerful than ever and even more determined to keep the bubble inflated. And should things go against them, then more printing is only a short flick of a switch away.

I hate the fact I sold when I did, to whom I did and with the agent I did. Unfortunately there's little I can change about that now but on the bad days, I still let it eat away at me. Can you tell?!

On the good days, I look at my combined bank balance, the 50% gains on my (limited) investments made since June 2009 and thank God I've got the option of leaving this country. The sooner the missus finishes her studies the better and I'm off.

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No change here. Prices seem to be falling here so I'm happy. Also nothing that the government has done so far seems like it will make any difference. Do you really think another 10k FTB buying new builds will make a difference? Labours home buy direct didn't stop prices falling 20% in 08 and this appears to be a mini version of that. I think it's more to do with the coalition being seen to be doing something to help. Rather than anything meaningful.

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No change here. Prices seem to be falling here so I'm happy. Also nothing that the government has done so far seems like it will make any difference. Do you really think another 10k FTB buying new builds will make a difference? Labours home buy direct didn't stop prices falling 20% in 08 and this appears to be a mini version of that. I think it's more to do with the coalition being seen to be doing something to help. Rather than anything meaningful.

It's not the FTB new build scheme that worries me - it's the new tax breaks (stamp duty and capital gains) for BTLers:

http://www.telegraph.co.uk/finance/budget/8402403/Budget-2011-Buy-to-let-opportunities-opened-up-by-stamp-duty-reforms.html

But I still don't think they'll succeed in propping this up, so no change here either.

Edited by sarahleyburn

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I am actively looking now and will buy.

I am worse off financially than last year. I have paid more rent.

There are less houses on the market in my price range than last year. There is a dearth of such properties coming to the market.

What does come to the market often comes on for 50K to 70K asking price more than similar houses were doing last year.

Given the delusional aspect of house prices it will be months or a year for most of these people to even take 10K off their ludicrous asking prices.

We are in the 1970s now. Inflation is running riot and they are inflating away the debt of the feckless who ramped up house prices. My house buying fund is being wrecked by inflation.

No, I do not wish to risk it in shares, commodities, gold or anything else.

The UK does not care about the prudent. It rewards the feckless and it is about time we all waked up and realised it.

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I am actively looking now and will buy.

...

No, I do not wish to risk it in shares, commodities, gold or anything else.

The UK does not care about the prudent. It rewards the feckless and it is about time we all waked up and realised it.

Yep. I've been b!tching to the missus about someone we know that has MEW'd, taken out credit, spoiled their kids, worked low paying stress free jobs having ditched a decent career because of not wanting the 9-5 office lifestyle. Holidays every year. Regular X-Factor watchers. You know the stereotype. And now they're on an IVA while were working hard and going without to make a better life for ourselves

Edit to say that looming inflation and the obvious intention of govt (whatever the colour of their tie) to prop up prices were big factors in our decision to buy last year.

Edited by the stig

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No change here. Just entering the fear phase in NI - already down 40% from peak at the lower end of the market.

Just waiting for the top end to come down to meet the middle then I'll buy at reasonable value --peak minus 55%.

I see the budget as saying much but doing little to stop this crash. The banks don't want to lend and FTBs don't want to cripple themselves with debt. Only one way that is going to go and it's down.

They are also preying on the ones who will give in first - luring them in whilst interest rates are still kept low - but for how much longer?

The City Elites (ce) are already doing huge damage to the UK keeping rates too low - country will self destruct if they don't rise.

(another reason why borrowing keeps going up month by month - subsidising low interest rates?)

Edited by erranta

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With respect TMT - are there not areas where prices have dropped in Wales or elsewhere that you could move to and also find work? By chaining yourself to one area you are feeding the HPI in your area. When Wales does get hit with public sector cuts in reality (not just in politicians' empty words) then if you stay there you will probably find yourself with an expensive house which is worth a lot less in that situation. The public sector behemoth cannot be fed forever.

I agree. All the starts for Wales show it having the biggest falls of anywhere in mainland UK over the last year. Are you in an very sought coastal holiday town?

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The bear / bull status should be brought back for threads like this, but with another option.......... plastic bear!

I'd of changed from Bear to Niether then.

I'm giving it another 12 months, then that is it. I think 10 years is more than long enough to wait for the so called inevitable.

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No change here.

I'm happy renting.

Prices will fall in stages as reality starts to bite and the sheeple/media realise that the property boom is OVER and is not coming back.

Things have changed forever re employment, wages and stardards of living because of globalisation (the affects of which were masked for many years by the biggest credit bubble in history).

Unemployment is the only thing that will be booming over the next 10 years.

I might buy a place one day, or I might go abroad.

The only chance of me buying in the next few years is if we get a hyperinflation - then I'll exchange precious metals for property when there is blood on the streets as Rothschild advised.

Keep the faith HPCers.

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Sold up and left the UK in 2007. Was planning to return after 5 years (no CGT to pay) but now staying on for a lot longer.

Great feeling knowing I'm not paying any UK tax to pay for all the rubbish that's going on.

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I agree Erranta -- those who jump in now after waiting so long will not increase HPI they will only keep the banks and the estate agents ticking over -- it's their deposit to lose and their debt burden to keep -- if they choose to go down that road then at least they have been warned and can't blame others for encouraging them.

Hold on tight there. ;)

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With respect TMT - are there not areas where prices have dropped in Wales or elsewhere that you could move to and also find work? By chaining yourself to one area you are feeding the HPI in your area. When Wales does get hit with public sector cuts in reality (not just in politicians' empty words) then if you stay there you will probably find yourself with an expensive house which is worth a lot less in that situation. The public sector behemoth cannot be fed forever.

I was ill for a few years. Without meaning to sound dramatic there was a time, a time when I spent a great deal of time on this forum, when I did not think I was going to make it.

I have no family. No relatives.

If it was not for the small group of wonderful friends I have here in Swansea I would not be sat here now typing this.

I am therefore accutely aware of the importance of friends and of having a 'support network'. It is not until you are faced with such drastic things in life that you realise how important such people are.

My plan is to buy and then use my home as a base to go away and do IT contracts overseas. I will have my home and my friends to come home to.

Virtually everyone I know here works in the Public Sector - I envy them - and there is no hint of any job losses to come. What appears to be happening is that the Labour/Plaid run Welsh Assembly is cutting back on services whilst protecting jobs at all costs in hospitals, in schools, in councils, in unis.

There have been consultations underway in many public sector organisations here in Wales for over a year now but no one I know knows anyone who has been made redundant.

I was told only a few days ago about another 12 months long consultation that a large public sector body in Swansea is about to start in April - so that means it will be another 13 months before they even get to the point when they will fire anyone. At which point you can bet another consultation will begin.

I spoke with a boy yesterday who inherited his Dad's house 2 years ago and it has stood on the market last year for 270K asking with no viewings. He reluctantly dropped it from 300K in Nov but he was adamant yesterday that it was worth 350K and had decided to hold out until "the banks lend again".

I have talked to many like him.

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The UK does not care about the prudent. It rewards the feckless and it is about time we all waked up and realised it.

Has it always been like this? In any case, you are correct! No point arguing against.

Hey..... I thought you were wanting to leave the country? Come on... don't stay in this cess pit!

Woah, I never realised there were savings to be made on bulk buys for BTLers....... does it get any worse!?

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Yes had planned for house with some spare resources for business start up (small specialist part manufacturing). Latter will not be done or all contracted out - will not be approaching any UK based companies for that for both financial and the personal reason is that if I can't do it I'll be ******ed if I'll add another penny to any other company to do it in the UK.

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Our plans have changed, no longer waiting for nominal drops, they will only be real-term drops. So I think there will be a "crash" but it won't feel like one.

Just waiting for the right property, they're very few + far between.

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Our plans have changed, no longer waiting for nominal drops, they will only be real-term drops. So I think there will be a "crash" but it won't feel like one.

Just waiting for the right property, they're very few + far between.

I'm expecting nominal falls in the region of 30-40%. I'll take a few years though.

The underlying economic climate is deflationary, governments are fighting it with QE.

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my plans change all the time....depends largely on how much work I have.

At the mo, its very quiet, yet two telephone enquiries today already....was in Swansea on Monday, got lost, and left.....seafog obscured the whole place.

the Hotel we stayed in was busy Saturday and Sunday...Monday there was one other party there....The recession is hitting the private sector and the growth expected by the Chancellor is NOT coming...unless the Government borrow more to offset the losses....

Edited by Bloo Loo

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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