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DT - First-time buyers beware: is now the worst time to buy a first home since the Eighties?

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Telegraph - First-time buyers beware: is now the worst time to buy a first home since the Eighties?

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The Chancellor’s decision to scrap stamp duty for first-time buyers was greeted with roars of approval in Parliament on Wednesday. In the outside world, thousands of buyers will benefit and they, too, are pleased.

The move - along with other initiatives like Help to Buy and the Lifetime Isa - could prompt more first-timers to step on to the first rung of the housing ladder.

The danger, though, is that they will become stuck there.

The Chancellor’s stamp duty measure deals only with the entry point of the housing market. In fact, there is not a severe problem there (see the graph, below). The problem is further up – all the way up – where stagnation is deeply entrenched.

Don't understand the intention. Do they want people to buy/not buy?

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I think they want people to think they are buying, knowing they will be staying living and buying the same place  stuck unable to move for longer than they may have expected.......if only the alternative to buying in this country was made more attractive, but sadly all living arrangements have big downsides and risks.....surely it doesn't have to be this way.;)

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Whatever claim the Telegraph had to being a proper newspaper - and it was - is long gone now.

Like the Express but without the bikini piccies now.

On the topic, if youre in the North, earning good money and fancy buying a houser that has been on (and off, and on, and off etc) the market for 5+ years, which youll get a good 30% off asking. And have a 30%+ deposit then its probably the time to buy. The money you might lose with falls will be made up by the low IRs you'll pay - buying a 3-4 bedroom house, in an area you'll stay in, with a 5 year fix at ~1.2% derisks a lot.

 

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I'm planning to buy in 2019/2020 if things are right. All of these props and token gestures are a massive pain in the ****. Not sure I want to bother with the lifetime ISA hassle but feel like I'm at a disadvantage if I don't. Benefits should be there for people who need them ffs.

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my parents in law bought a house in the peak of the 1980's the house is just big enough for a comfortable life, providing you dont hoard shite. It's an OK life, buying either side would change OK to 'nice' house, but for the sake of a bit more space, is 2-3 years worth waiting (and associated risks?)

Really a human is OK with a 1980's house, i think those were build at the smallest a human needs, the new builds are rubbish shite which are too small for sensible human habitation. 

I think if you do buy a house now in similar conditions to the 1980's peak, its not the end of the world, providing you can get a house which suits your needs, and its a 'forever home', and you have a large deposit of above say 30 or 40% then its OK on a longer term time scale. Obviously in a lot of parts of the UK and average wage cannot reach those criteria anyway.

Im in a situation where i do reach those criteria, and again i will probably be the same as the poster above, buying sometime around 2019/2020. Thats when the BTL dumping will be in full swing, and although a full blow crash and interest rates being jacked up would be better, given current buying conditions, it seems that 2019/2020 is probably the best buying opportunity we have had since the crisis apart from a brief period in the 2013's lows. If during that time we only get 5% cheaper houses, then i will have to just stomach it, hopefully we should see greater 'value' than that, (not that value is a word which should ever be associated with UK housing!)

 seems like buying a house is like swimming in the sea in the UK, its always bloody cold, some some months its a little less cold than others. So your going to be freezing whenever you jump, but at least you might not die of thermal shock in the first 10 minutes. 

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At the current prices to wages ratio in the SE - yes self evidently it is the worst time to buy in very long time...close your eyes and buy the new highs, this time is different etc - no its not.

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  • 407 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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