The buying a house thread

[cayton]

Lee will be able to tell you more about this but from what i see over the last 6/8 week houses are moving quickly. This could be due to shortage of houses avalable, or because mortgage companys are starting to lend again or a combo of both. House sales are seasonal so best months for selling are march to sept so looking now you will have more compatition. come winter house sales slow down as Lee will prob confirm.
IMO sales will flatten out again around september or even dip alittle. but saying that there's never a right or wrong time to buy. find what you like. value it for what it is. or what you are willing to pay and go for it. when you go into a place you will know whether its right
GL

[TomPich]

I'll join in on this thread in about 6 years guys Very educational thread.

I love the apartments in Brist by the waterfront ! Right by Gala lol

[rfph1]

Only advice I can give is - pay the mortgage off early !

Took mine out in 2001, and through overpayments have reduced the term continuously so that I now have only 3.3 years to go (i.e. paid in 11 or 12 years instead of 25). The reduction in the overall amount you repay is unbelievable !

PS Also helps if you live in an area of the country where you can you can still get a 4 bed detatched house for ~£250 K, and better if you buy just before house prices double

rightmove.co.uk: internal server error - I didnt buy this in 2001 because it was, imo, far to small and way overpriced.

[rfph1]

How much was this in 2001? It's £255k now. I'm guessing it was £150k back then?

It was £95K in Sept 2001.

[S6TAV]

The housing arm of the company I work for (Explore Living) has hit a wall with regards to selling houses. They have just finished an apartment block in Chadwell Heath (Essex) and when the project first started they set up a marketing suite and sold all of the appartments within 3 weeks to a private company for £8.5 million. That was just over two years ago though and before the shit hit the fan. Now it looks like they are trying to pull out using every excuse possible to delay the job completion which needs to be done by the 30th of June or they can legally pull out of the contract

Matt if you ever move to london you could always check out the apartments we are building at One Hyde Park Candy & Candy - Developments | Interior Design | Property Development Management
(i dont work for Candy&Candy they are just the architects)
Penthouse went for £100m and the normal one bedroom places are going for £8m hahahaha

[Raiser]

Do you think houses being sold very quickly is typical in the current market, or was what I saw not typical? If yes, why do you think this is and should also be prepared to act quickly? (obv the people selling me the house will tell me I need to act quickly, but I am a fan of procrastination!)

Ah, the golden question...

There seems to be a cloud floating around Bristol at the moment. Bristol is very strange, there seems to be lots of local markets and all are performing differently. BS15 for example is performing VERY badly. BS16 seems to be ticking over. BS3 and BS4 seems to be performing quite well and Horfield is flying at the moment (god knows why cant stand the place personally - no offence people!)

So to answer your question: the newer properties on the merket seem to be selling reasonably quickly due to vendors pricing properly. Suprisingly, there is a lack of new properties coming to the market at the moment and it appears that there is more buyers than properties. This isnt the case as there are plently of properties on the market but unfortunatly 50%+ are over priced and not sellable!

So, yes what you saw is kinda typical because as mentioned the newer properties are obviously priced well to attract the attention of a number of buyers and hence they are selling quickly.

If you happen to see a property that you like, you view it and get 'that feeling', its not over priced and there isnt a large chain then act as quickly as you feel comportable. My only advice would be that when you do get an offer accpeted make sure you ask the vendor to take the property off the market to limit the chance of being gazumpted.

If you fancy a read of the state of the current market in the UK as a whole then have a read of this link...

http://miranda.hemscott.com/static/c...89/3076658.pdf

It is only really intended for the industry professionals but it does hit the nail on the head. It is published by rightmove and they are generally not far off the mark and this publication is quite highly rated in the industry - it is actually quite scary reading! Read page 2 onwards 'The overview'

Enjoy

[PokerWoody]

All good.

Thanks Lee.

[PokerWoody]

omg...just seen a house we both like!

[cayton]

omg...just seen a house we both like!

Calm down mate. dont get 2 exited. info please or link

[Top Pair Ace Kicker]

Cant offer much on here, but working for The Deposit Protection Service for 6 months now I would DEFINITELY advise against buying to Let. Tenants are fucking horrible in most instances.