House Prices #3 Property market, buying and selling

Are you...

  • A homeowner with a mortgage fixed for 2 years

    Votes: 92 16.9%

  • A homeowner with a mortgage fixed for more than 2 years

    Votes: 204 37.4%

  • A homeowner not on a fixed mortgage

    Votes: 28 5.1%

  • A homeowner currently looking to move or remortgage

    Votes: 44 8.1%

  • A FTB still saving for a deposit

    Votes: 43 7.9%

  • A FTB with a deposit saved, currently seeking properties

    Votes: 29 5.3%

  • Renting with no intention of buying

    Votes: 11 2.0%

  • Renting but hope to buy in future

    Votes: 64 11.7%

  • Other...

    Votes: 30 5.5%
  • Total voters
    545
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1
Folkevermore said:
Been looking for a house with my partner for months and can’t find a single thing. We have fairly decent incomes but everything is either way under our budget and looks like an actual crack den or way too expensive.
hoping the stamp duty cut encourages more people to sell so we actually get the chance to buy something
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I feel for you. I'm in the same boat 😶

It is so bad in Ireland that i stopped looking there and decided to look at houses in France.

Hopefully prices will come back to normal.
 
Interest rates had to go up. We are facing high prices because everyone and their mother took advantage of law rates to take loans.

To be honest I'd rather pay a 20% interest but a lower house price like it used to be. These 300k homes that have a garden where you can hear your neighbours, no private parking, no proximity to public transportation and tiny bedrooms are ridiculous.
 
Anne1448 said:
Interest rates had to go up. We are facing high prices because everyone and their mother took advantage of law rates to take loans.

To be honest I'd rather pay a 20% interest but a lower house price like it used to be. These 300k homes that have a garden where you can hear your neighbours, no private parking, no proximity to public transportation and tiny bedrooms are ridiculous.
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BIB that's a standard 2 bed near me 😑
 
Folkevermore said:
Been looking for a house with my partner for months and can’t find a single thing. We have fairly decent incomes but everything is either way under our budget and looks like an actual crack den or way too expensive.
hoping the stamp duty cut encourages more people to sell so we actually get the chance to buy something
Click to expand...
Came here to rant about this exact situation, all the family homes are unaffordable, we’ve been priced out of our local area as prices rose so quickly and I’m obsessively checking listings hourly but it’s starting to affect my mental health, I feel so sad all the time
 
Meg78 said:
Came here to rant about this exact situation, all the family homes are unaffordable, we’ve been priced out of our local area as prices rose so quickly and I’m obsessively checking listings hourly but it’s starting to affect my mental health, I feel so sad all the time
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I completely get it, literally have never felt so sad in anxious in my life, yet everyone thinks it’s “exciting” that I’m house hunting
 
Meg78 said:
Came here to rant about this exact situation, all the family homes are unaffordable, we’ve been priced out of our local area as prices rose so quickly and I’m obsessively checking listings hourly but it’s starting to affect my mental health, I feel so sad all the time
Click to expand...

Property prices are crazy at the moment. I was lucky in that bought my tiny terrace in 2010 for 90k. One in the next street that admittedly has nicer decor and a much newer kitchen than mine but it’s the same size, has pretty much the same garden and isn’t otherwise massively different has just sold for £185k. How will people get on the property ladder?

My house would be a squeeze for more than 3 people. I wouldn’t be able to afford to buy now at all and I feel so sad for everyone trying to get on the property ladder. Rents are extortionate too. It’s madness. My friends in London has been trying to move out of their flat for ages but everything they look at sells really quickly for massively over the asking price. I live on my own and I have other friends on single incomes that are finding rent / mortgage really tough. Something has to be done surely.
 
Cloudycoffee501 said:
Property prices are crazy at the moment. I was lucky in that bought my tiny terrace in 2010 for 90k. One in the next street that admittedly has nicer decor and a much newer kitchen than mine but it’s the same size, has pretty much the same garden and isn’t otherwise massively different has just sold for £185k. How will people get on the property ladder?

My house would be a squeeze for more than 3 people. I wouldn’t be able to afford to buy now at all and I feel so sad for everyone trying to get on the property ladder. Rents are extortionate too. It’s madness. My friends in London has been trying to move out of their flat for ages but everything they look at sells really quickly for massively over the asking price. I live on my own and I have other friends on single incomes that are finding rent / mortgage really tough. Something has to be done surely.
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It feels like no matter what happens people are going to get hurt, either there will be a generation of delayed homeowners or worse, unable to own at all, which in turn negatively impacts the wealth distribution to the next generation, but also, think of all the people who just about scrape through now to successfully buy an overpriced home…. and then the market crashes. The first lot will be rejoicing, but the second will start their mortgage life in negative equity and again a generational impact would happen. Surely none of it is sustainable? How does the government expect future generations to be self sufficient if the expected inheritances never happen?
 
The danger with prices being so high means that a lot of people will take decisions that may change the course of some countries.

In Ireland for example, it is becoming a luxury to have kids because the generation below 40 can't buy a place. Which means that these kids will have to wait until their 40s to buy something since the parents would still be paying their mortgages. Can you imagine living with your parents in your formative years? Forget dating, socialising, getting a job in a new city, etc

Also, if people cannot afford to buy in their youths it could create a massive homeless crisis when they'll reach their 60s. If people can't pay their rent now they sure as hell can't pay it with their 1080€ pension.
 
Meg78 said:
Came here to rant about this exact situation, all the family homes are unaffordable, we’ve been priced out of our local area as prices rose so quickly and I’m obsessively checking listings hourly but it’s starting to affect my mental health, I feel so sad all the time
Click to expand...
People think that a drop in the market is a bad thing for anyone already on it but the only people that really suffer are the downsizers. The rest of us are trapped in homes we have outgrown. When I bought my flat, the gap between my 2 bed and a 3 bed house was between £25k and 50k, now it's £125k to £300k
 
Notworthy said:
People think that a drop in the market is a bad thing for anyone already on it but the only people that really suffer are the downsizers. The rest of us are trapped in homes we have outgrown. When I bought my flat, the gap between my 2 bed and a 3 bed house was between £25k and 50k, now it's £125k to £300k
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It’s crazy isn’t it. In my home town where my parents still live you can’t get a 3 bed with parking and a decent enough sized garden (ie not somewhere that’s postage stamp size) for under 450k. And that’ll be one double master, one smaller double that you can squeeze a double bed into but no other furniture, and a box room that fits a single bed and a bedside table.
 
WeepingCassandra said:
It’s crazy isn’t it. In my home town where my parents still live you can’t get a 3 bed with parking and a decent enough sized garden (ie not somewhere that’s postage stamp size) for under 450k. And that’ll be one double master, one smaller double that you can squeeze a double bed into but no other furniture, and a box room that fits a single bed and a bedside table.
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Yes yes yes and yes 🙌

Bedrooms are getting smaller and smaller these days but the prices are double if not triple what our parents paid.

I looked at a 3 bedroom house and only one had enough space to put a dresser. It's as if developers expect us to only put a bed in the room.

What happened to bedrooms where you could actually put a dresser, desk, mirror and other miscellaneous things.
 
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