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Mr. Piddle

Anyone Dashing Out To Buy This Month?

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Well September is here, the holidays are over and the kids are back to school (thank god!)

Estate Agents are expecting a bumper month of sales, and the Express has tried to boost consumer confidence by assuring house prices will rise by 14% or whatever they made up.

So is anyone planning on dashing out to buy this month?

Edited by mason

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Please don't spend a penny, my rent and that of many other tenants is calculated based upon September RPI.

Deflation this month will lead to lower rents!

Withdraw your savings and pay down debt. Put money under the mattress, do not spend.

FORCE RENTS DOWN (particularly my rent) ph34r.gif

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The wife and I were discussing it over the weekend again, we'd like to buy to help us feel more settled, we've got two children who will start school next year and would like some security. So we jumped on rightmove, had a look at properties in our area and confirmed that prices are still in la-la land and have parked the idea of buying again for another year.

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Please don't spend a penny, my rent and that of many other tenants is calculated based upon September RPI.

Deflation this month will lead to lower rents!

Withdraw your savings and pay down debt. Put money under the mattress, do not spend.

FORCE RENTS DOWN (particularly my rent) ph34r.gif

Oooh I didn't know that! Thanks, I will happily go without everything this month if it forces rents down! :D

Doubt I will ever bother looking this month as they will probably keep prices in la la land just in case there are families looking to buy en mass - think they are in for dissapointment though (again) :rolleyes:

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I started viewing and intend to view numerous houses this month but fear I am only encouraging both deluded EAs and sellers. I can't help feeling that not viewing would be the wiser choice.

I viewed a 2 bed in Mumbles, Swansea, on for 249K yesterday on a busy junction of a rat-run which, itself, is on a slight hill... so lots of engine braking and reving outside. The EA was completely deluded IMPO thinking that the seller might take a few K less.... it should have been on for 200K asking and not 250K! Worth 190K tops IMPO.

I viewed a 3 bed semi in today on for 270K asking - it had been on for 300K asking and the couple have modernised the bottom of the house up really nice.

But they admitted to me that they have an 18 year mortgage and would still be paying off the mortgage into their 70s. So they are planning to downsize by buying a 2 bed flat in SA1.

Problem is, they bought at the height of the boom when other houses were going for 300K in the road. They originally wanted 300K but have now dropped to 270K asking but are only prepared to take another 3K or 4 K off.

They had spent a lot - granite kitchen tops, open real fire, opened up the rooms, etc, new bathroom, twigs in vase, and it looks like a typical Swansea West job of buying a wreck during the boom, doing it up and then looking to sell it on for a tidy profit. They said they had spent 50K doing it up.

Upstairs they had modernised partially by doing up the main bedroom and the bathroom but had clearly either run out of money or had just got fed up doing it.

So they want 270K but absolute tops I can't see it being worth more than 230K even with what they have done. Friends said that it was 240K tops but probably less.

Have to say, it is one of the few houses that I felt I could move into and not have much to do, but it ain't a 270K house.

Edited by The Masked Tulip

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I'm deliberately not viewing so that more vendors lose hope with the lack of viewers and reduce their price

Yes, I think that is a wiser move.

One house, which I am keen on but which is a good 50k over-valued, I am refusing to view. Friends tell me to view it but I would rather they lose hope.

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We are thinking about it hard now. A 5 year tracker on a 3 bed semi (20+% below peak price where we want to live) in a good area is much less than rental cost of our 2 bed flat in a crap area at the moment - between savings on rent, travel (much nearer work), council tax and the capital repayments we would be saving ~3% of the purchase price a year. The nominal price would have to fall below 35% off peak price for us to be worse off over 5 years - even lower in real terms if there is some (wage) inflation. It should be a reasonably fair calculation as the extra maintenance costs are probably balanced out by the extra rent for a comparable house (+1%of purchase price / year).

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Please don't spend a penny, my rent and that of many other tenants is calculated based upon September RPI.

Deflation this month will lead to lower rents!

Withdraw your savings and pay down debt. Put money under the mattress, do not spend.

FORCE RENTS DOWN (particularly my rent) ph34r.gif

....and mine too I guess. I've just been offered a council property, and accepted. £57pw! outrageous!! laugh.gif

Less than half my current rent, which means lower costs, more saving, money not paying someone's pension/mortgage, oh and I get to choose what colour to paint the walls. Fancy that in 2011 Britain.

Edited by John Steed

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Sold my one bedroom flat in Wandsworth on the 2nd September for the same as I bought it for in March 2007.

Lots of developments kicking off in SW london and I did not really want to be surrounded by building sites for 6 years then realising that when I come to re-sale I have 400 one and two beds flat competing with mine. Also need more space and a change of scene

Buying a semi in the leavy London suburbs completing on the 15th September :ph34r:

I am probably mad but looking forward to it :D

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Yes, I think that is a wiser move.

One house, which I am keen on but which is a good 50k over-valued, I am refusing to view. Friends tell me to view it but I would rather they lose hope.

I've done a few viewings recently.

One was on for 700K...I told the agent from looking at the land registry, similar places that have sold etc etc etc that it was probably worth no more than 500K. He looked gob-smacked. He couldn't argue against the logic though. He just said..."so you wont be buying it then" :lol: If it had been a half decent house I might have offered 500K for it, but it wasn't even worth offering on. Not what we wanted.

Edited by TheCountOfNowhere

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....and mine too I guess. I've just been offered a council property, and accepted. £57pw! outrageous!! laugh.gif

WTF? What council?! Gis a room.

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Actually I just had my offer accepted on a place. :huh:

Maybe I'm the only one?

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WTF? What council?! Gis a room.

Kirklees. Got an offer today, go to sign Thursday. Only put myself on the register, three months ago for a laugh! Seemed churlish to reject it.

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Kirklees. Got an offer today, go to sign Thursday. Only put myself on the register, three months ago for a laugh! Seemed churlish to reject it.

Well Jammy! Seems only fair to put your HPC buddies up, how about we chip in £10 pw? :D

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Yes, I think that is a wiser move.

One house, which I am keen on but which is a good 50k over-valued, I am refusing to view. Friends tell me to view it but I would rather they lose hope.

No point doing the vendor a favour and paying £50k over the odds is there? They'll be laughing with your money whilst you possibly struggle to pay it back.

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Kirklees. Got an offer today, go to sign Thursday. Only put myself on the register, three months ago for a laugh! Seemed churlish to reject it.

What's your status? :)

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Please don't spend a penny, my rent and that of many other tenants is calculated based upon September RPI.

Deflation this month will lead to lower rents!

Withdraw your savings and pay down debt. Put money under the mattress, do not spend.

FORCE RENTS DOWN (particularly my rent) ph34r.gif

You're assured I won't be spending a penny that isn't absolutely necessary for survival B)

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Actually I just had my offer accepted on a place. :huh:

Maybe I'm the only one?

You're not the only one.

Many on here will no doubt say buying now is a mistake, but one can't say that objectively without knowing

- the price you have agreed to pay

- the mortgage deal you have obtained

- other personal circumstances (kids school catchment area etc)

- the future

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  • 284 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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