Nationwide, house prices surge 2.1% in August

[MonsieurCopperCrutch]

1 hour ago, TheCountOfNowhere said:

Sure you can...Since I've being doing the twitter feed for house price mania, prices have doubled  

Maybe you should stop doing it? 😂

[TheCountOfNowhere]

19 minutes ago, Bruce Banner said:

I've always ignored health scares so continued eating butter, red meat and animal fat throughout. 

If I like it, I eat it and if I don't, I don't, simple as that.

Im with you.

Chances are you'll die at much the same age, so you might gain 1% more time, less time for these scum bags to tax us.

[Chunketh]

19 minutes ago, Bruce Banner said:

I've always ignored health scares so continued eating butter, red meat and animal fat throughout. 

If I like it, I eat it and if I don't, I don't, simple as that.

My late Grandfather was told at the ripe old age of 92 that his cholesterol was a bit high and he might consider eating something other than butter.

His usual polite manner took a bit of a turn for the worse briefly

[steve99]

1 hour ago, MonsieurCopperCrutch said:

The Tory Populist Party have always been the party of landlords and land owners. More fool anyone who repeatedly votes for them. AKA you get the government that you deserve. The newfound Tory faithful that used to be staunch Labour will be loving their new ‘wealth’. 

We got the government that 43% of those that voted imposed upon us.

[Smiley George]

55 minutes ago, MonsieurCopperCrutch said:

It’s very disheartening for those sitting on the wrong side of this and I have sympathy for them but you cannot let this get you down. Sadly you just have to make what best of it that you can.

We've now been renting for 10 years, we rented initially as I had decided to build a new business with some colleagues and my income for the first 5 or 6 years was not regular and I had to dip into savings every now and then to keep things on the straight and narrow. Gradually the business became more and more successful and my wages rose accordingly, but never quite enough to get that mortgage big enough for the nice 3/4 bed family home.

Fast forward a few more years and I'm now top 5% earner in the UK, have a six figure deposit saved, yet those same family homes are tantalisingly out of reach. I'm 48 and every month that passes is a month less on the mortgage term we can get.

I'm not after sympathy, but we're coming to the point where we're going to have to make a decision to either move to a cheaper area and all the upheaval that will mean for the kids, taking them out of the schools and friendship groups they've made etc. There are other reasons we need to stay where we are as in-laws now need round the clock help after mother-in-law being diagnosed with dementia, and we're the only ones close enough to help, so a massive impact on them if we had to up sticks and move 50 miles.

Or...rent for the rest of our lives, unless I've missed another option. I'm open to ideas (and not fecking Bitcoin BTW)

[Locke]

2 minutes ago, steve99 said:

We got the government that 43% of those that voted imposed upon us.

And yet you continue to support the system.

 

53 minutes ago, TheCountOfNowhere said:

Im with you.

Chances are you'll die at much the same age, so you might gain 1% more time, less time for these scum bags to tax us.

You will live longer eating the exact opposite of what the authorities tell you to.

A healthy diet consists of meat and organs from pasture raised, grass fed, grass finished ruminant animals, with plenty of midday sunlight, some fruits if you enjoy them, no processed carbs and zero added omega 6 (polyunsaturated) fats.

Most people can tolerate some amount of carbs such as bread, but that must be kept as a treat.

[PeanutButter]

3 minutes ago, Smiley George said:

We've now been renting for 10 years, we rented initially as I had decided to build a new business with some colleagues and my income for the first 5 or 6 years was not regular and I had to dip into savings every now and then to keep things on the straight and narrow. Gradually the business became more and more successful and my wages rose accordingly, but never quite enough to get that mortgage big enough for the nice 3/4 bed family home.

Fast forward a few more years and I'm now top 5% earner in the UK, have a six figure deposit saved, yet those same family homes are tantalisingly out of reach. I'm 48 and every month that passes is a month less on the mortgage term we can get.

I'm not after sympathy, but we're coming to the point where we're going to have to make a decision to either move to a cheaper area and all the upheaval that will mean for the kids, taking them out of the schools and friendship groups they've made etc. There are other reasons we need to stay where we are as in-laws now need round the clock help after mother-in-law being diagnosed with dementia, and we're the only ones close enough to help, so a massive impact on them if we had to up sticks and move 50 miles.

Or...rent for the rest of our lives, unless I've missed another option. I'm open to ideas (and not fecking Bitcoin BTW)

Can you squeeze into buying a smaller place and then extend? 

[Frugal Git]

4 minutes ago, Smiley George said:

<Snip - Did right things if market wasn’t rigged but found they’ve been shafted by the rigged market)/>

Or...rent for the rest of our lives, unless I've missed another option. I'm open to ideas (and not fecking Bitcoin BTW)

Why not? It’s the one asset that isn’t rigged by the powers that are shafting you. 

[Meat Loaf]

Don't worry...mortgage approvals are now going down...the crash is imminent....

[MonsieurCopperCrutch]

2 hours ago, Frugal Git said:

Why not? It’s the one asset that isn’t rigged by the powers that are shafting you. 

I think he feels that he’s missed the boat. (He’s not. It’s still early to get into). 

[Pmax2020]

The fact that transactions are down 60-70% has a huge impact on prices. Most agents I’ve chatted to have spoken of buyers out-numbering sellers greatly. “Everyone wants to buy but they aren’t listing their own house first”. 

It stands to reason that prices will rise as people take a punt on a property, knowing they’ll have to make their offer more appealing as they are not on the market themselves.

I honestly believe we’ve just observed a generation of middle-movers buy/sell that are ‘cashing in’ the profits on their first couple of houses. These people know they are paying a premium at a precarious time. We’re just seeing cash associates with historic rises in prices change hands. 
 

Every daft price I see puts a smile on my face because it’s completely unsustainable. There will be a crash. It’s going to be a very interesting 3-4 months now. 

 

[Smiley George]

3 hours ago, Frugal Git said:

It’s the one asset that isn’t rigged by the powers that are shafting you.

I have considered crypto, but the volatility and scope for price manipulation is ridiculous, to put a chunk of my deposit into crypto would be reckless - however, I may soon be out of options.

I'm interested why you would consider crypto as not rigged, when the likes of Elon Musk can influence massive market swings just by tweeting a couple of emojis?

[Smiley George]

53 minutes ago, MonsieurCopperCrutch said:

I think he feels that he’s missed the boat.

Correct. Had I had the foresight of others and stuck a couple of grand in a few years back, but now, I might as well head to the casino.

[Bloop]

4 hours ago, Smiley George said:

We've now been renting for 10 years, we rented initially as I had decided to build a new business with some colleagues and my income for the first 5 or 6 years was not regular and I had to dip into savings every now and then to keep things on the straight and narrow. Gradually the business became more and more successful and my wages rose accordingly, but never quite enough to get that mortgage big enough for the nice 3/4 bed family home.

Fast forward a few more years and I'm now top 5% earner in the UK, have a six figure deposit saved, yet those same family homes are tantalisingly out of reach. I'm 48 and every month that passes is a month less on the mortgage term we can get.

I'm not after sympathy, but we're coming to the point where we're going to have to make a decision to either move to a cheaper area and all the upheaval that will mean for the kids, taking them out of the schools and friendship groups they've made etc. There are other reasons we need to stay where we are as in-laws now need round the clock help after mother-in-law being diagnosed with dementia, and we're the only ones close enough to help, so a massive impact on them if we had to up sticks and move 50 miles.

Or...rent for the rest of our lives, unless I've missed another option. I'm open to ideas (and not fecking Bitcoin BTW)

I'm in exactly the same position (although not such as large a deposit), compounded by the fact that our current money grabbing landlord has asked us to leave so that she can capitalize on the overheated property market herself. I offered to buy her house off her so we could stay in the area that we have been renting in for the last 8 years, where our 9 year old has a social network and goes to school, and after a week of silence she got back to me saying that they were now not going to sell but rather wanted 'market value' for the property aka £950 per month.

We are currently paying £750 per month (zero arrears or late payments over the last 2 years) for a house that is  barely worth that (black mould in upstairs bedroom and annex; wall paper peeling off some walls; dish washer and tumble dryer have never worked and we were told we would need to fix them or move them out ourselves, to name just a few of the issues with the house), and after pointing out these issues to her, I offered to stay in situ while they did some of the work so we could find somewhere suitable and affordable in current nuts market. After another few days silence she got back to me saying how sorry she was I had some problems with the house and blamed it all on the letting agent, and then said that it would not be fair to myself or the renovators doing the repair work for me and my family to remain in situ, so please kindly jog on on the specified date (7th November) given in your notice.

I am now currently considering my position re staying put after the notice date and letting them evict us, in order to buy us a bit more time - the only thing that would stop me is if it would have an adverse effect on my mortgage application when I do finally find a house that we want to buy. If anyone here has the answer to that one, I'd be eternally grateful!

[tep1]

1 hour ago, Pmax2020 said:

 “Everyone wants to buy but they aren’t listing their own house first”. 
 

I hear EAs are advising this to prospective sellers at the mo. Secure something then put your property on the market. I suspected this is a way to keep property volumes low and maintain higger pricing levels. 

[VancouverGuy]

Meanwhile, anyone with a properly balanced and globally-diversified portfolio of tax-efficient stocks, bonds, REITs and Preferred shares will have seen growth of nearly 30% over the past 12 months, far outpacing that of a 2-bed terrace in Basingstoke.

[satsuma]

45 minutes ago, Bloop said:

I'm in exactly the same position (although not such as large a deposit), compounded by the fact that our current money grabbing landlord has asked us to leave so that she can capitalize on the overheated property market herself. I offered to buy her house off her so we could stay in the area that we have been renting in for the last 8 years, where our 9 year old has a social network and goes to school, and after a week of silence she got back to me saying that they were now not going to sell but rather wanted 'market value' for the property aka £950 per month.

We are currently paying £750 per month (zero arrears or late payments over the last 2 years) for a house that is  barely worth that (black mould in upstairs bedroom and annex; wall paper peeling off some walls; dish washer and tumble dryer have never worked and we were told we would need to fix them or move them out ourselves, to name just a few of the issues with the house), and after pointing out these issues to her, I offered to stay in situ while they did some of the work so we could find somewhere suitable and affordable in current nuts market. After another few days silence she got back to me saying how sorry she was I had some problems with the house and blamed it all on the letting agent, and then said that it would not be fair to myself or the renovators doing the repair work for me and my family to remain in situ, so please kindly jog on on the specified date (7th November) given in your notice.

I am now currently considering my position re staying put after the notice date and letting them evict us, in order to buy us a bit more time - the only thing that would stop me is if it would have an adverse effect on my mortgage application when I do finally find a house that we want to buy. If anyone here has the answer to that one, I'd be eternally grateful!

Thats a tough situation, I cant imagine being in that situation.  I do have some sympathy as I would have people asking me as a landlond to help out.  One sticks in my mind, I pulled into the parking space of the house having just bought it.   Went in and started grafting at getting the place sorted.  I watched this guy mooching about the car and thought WTF is he at.  I decided to ignore it anyway.  So 10 mins later he knocks the door and says he wants to talk to me.  So I goes out to see what the story is and hes complaining about the parking and that people are always parking where they should now be.  Now, id be a badly dressed sort of a guy with a beat up car so he assumed he was a better class sort.  I points out that I not only own the parking but the land behind it and the house abd a few other houses next door.  The horns got pulled in fairly fast followed by waffel and shite about his job (**** measuring contest).  Fast forward a few month and his greedy landlord is cashing in on the mad eazzy money on the and the same guy comes cap in hand looking to rent off me.  To be honest id help if I could and I actually like the guy but what can you do theres no space.  I hope you get sorted and find one of them more decent landlords.  

[Smiley George]

1 hour ago, Bloop said:

I'm in exactly the same position (although not such as large a deposit), compounded by the fact that our current money grabbing landlord has asked us to leave so that she can capitalize on the overheated property market herself. I offered to buy her house off her so we could stay in the area that we have been renting in for the last 8 years, where our 9 year old has a social network and goes to school, and after a week of silence she got back to me saying that they were now not going to sell but rather wanted 'market value' for the property aka £950 per month.

We are currently paying £750 per month (zero arrears or late payments over the last 2 years) for a house that is  barely worth that (black mould in upstairs bedroom and annex; wall paper peeling off some walls; dish washer and tumble dryer have never worked and we were told we would need to fix them or move them out ourselves, to name just a few of the issues with the house), and after pointing out these issues to her, I offered to stay in situ while they did some of the work so we could find somewhere suitable and affordable in current nuts market. After another few days silence she got back to me saying how sorry she was I had some problems with the house and blamed it all on the letting agent, and then said that it would not be fair to myself or the renovators doing the repair work for me and my family to remain in situ, so please kindly jog on on the specified date (7th November) given in your notice.

I am now currently considering my position re staying put after the notice date and letting them evict us, in order to buy us a bit more time - the only thing that would stop me is if it would have an adverse effect on my mortgage application when I do finally find a house that we want to buy. If anyone here has the answer to that one, I'd be eternally grateful!

I feel your pain mate.

In the 10 years we've been renting we've had two landlords pull the rug from under us and sell up. The UK is completely broken when it comes to how it provides shelter for its population. Read the above and then look at that DM article posted in another thread, describing property flippers/BTLers who've profited from the Pandemic property FOMO as BRAVE!!!. They are not brave, they are selfish, greedy c***ts who should be outed as such, not lorded over.

[Bloop]

7 minutes ago, satsuma said:

Thats a tough situation, I cant imagine being in that situation.  I do have some sympathy as I would have people asking me as a landlond to help out.  One sticks in my mind, I pulled into the parking space of the house having just bought it.   Went in and started grafting at getting the place sorted.  I watched this guy mooching about the car and thought WTF is he at.  I decided to ignore it anyway.  So 10 mins later he knocks the door and says he wants to talk to me.  So I goes out to see what the story is and hes complaining about the parking and that people are always parking where they should now be.  Now, id be a badly dressed sort of a guy with a beat up car so he assumed he was a better class sort.  I points out that I not only own the parking but the land behind it and the house abd a few other houses next door.  The horns got pulled in fairly fast followed by waffel and shite about his job (**** measuring contest).  Fast forward a few month and his greedy landlord is cashing in on the mad eazzy money on the and the same guy comes cap in hand looking to rent off me.  To be honest id help if I could and I actually like the guy but what can you do theres no space.  I hope you get sorted and find one of them more decent landlords.  

Cheers, I hope we do too, although to be honest I am done renting now - at 48 I've had my fill of insecurity and throwing good money after bad; as I am in position to buy for the first time, I'm going to do my best to find somewhere to live over the long term, crash or no crash - at some point you just have to jump in. My latest ploy has been to flyer some local streets that we like, my policy being you don't ask, you don't get.

[Huggy]

5 hours ago, steve99 said:

We got the government that 43% of those that voted imposed upon us.

43% sounds really really low. Certainly lower than 50% which is the number above which one would expect to win these kinds of things (except, maybe, on another thread 😂).

Can you remind us who got more pls, thx.

[Huggy]

50 minutes ago, tep1 said:

I hear EAs are advising this to prospective sellers at the mo. Secure something then put your property on the market. I suspected this is a way to keep property volumes low and maintain higger pricing levels. 

I thought EAs make their money from volume and so would be trying to get prices down in general. An extra 200 quid for one house is worse than and an extra house at a couple of grand ro whatever they charge for their 'services' these days.

As for the HPI-masters that are NW, 2% in the wrong direction is certainly the wrong direction, but when you need a 50%+ crash in order to set things right, it's a mere piss in the ocean. I am concerned about this in the same way as I am concerned with the prices of Victoria Crosses (I look at it and think, "nice to look at, maybe next year eh").

[Bloop]

1 minute ago, Smiley George said:

I feel your pain mate.

In the 10 years we've been renting we've had two landlords pull the rug from under us and sell up. The UK is completely broken when it comes to how it provides shelter for its population. Read the above and then look at that DM article posted in another thread, describing property flippers/BTLers who've profited from the Pandemic property FOMO as BRAVE!!!. They are not brave, they are selfish, greedy c***ts who should be outed as such, not lorded over.

Yep, this is my second in a row after the last one two years ago who wanted his house back to give to his step son - couldn't really argue with that one, this one however has really p***** me off

[Smiley George]

1 minute ago, Bloop said:

couldn't really argue with that one,

This is where we may differ, I'd argue that if you want to own multiple houses and farm rent from tenants then it should be made a long term commitment - not one that can be reversed on a whim or change in circumstance. You want to reap the benefits of HPI and rents, then lets see some commitment. Oh and here's some extra taxes to pay whilst we're at it.

[tep1]

2 minutes ago, Huggy said:

I thought EAs make their money from volume and so would be trying to get prices down in general. An extra 200 quid for one house is worse than and an extra house at a couple of grand ro whatever they charge for their 'services' these days.

As for the HPI-masters that are NW, 2% in the wrong direction is certainly the wrong direction, but when you need a 50%+ crash in order to set things right, it's a mere piss in the ocean. I am concerned about this in the same way as I am concerned with the prices of Victoria Crosses (I look at it and think, "nice to look at, maybe next year eh").

In my experience the more market choice and potentially coming to market the harder it is to decide on a home purchase. 

[satsuma]

18 minutes ago, Bloop said:

Cheers, I hope we do too, although to be honest I am done renting now - at 48 I've had my fill of insecurity and throwing good money after bad; as I am in position to buy for the first time, I'm going to do my best to find somewhere to live over the long term, crash or no crash - at some point you just have to jump in. My latest ploy has been to flyer some local streets that we like, my policy being you don't ask, you don't get.

you might touch lucky with that gambit, hard to swallow though having to go door to door to find someplace.  You might get someone that does not want the family losing their shit that mum is selling their inheritance.  I have a person who I know that while a greedy ******* does have great success doing that.