You are here: Home > Message Board > News & Politics > The Great London House-Price Softening
May 10 2021 5.18am

The Great London House-Price Softening

Previous Topic | Next Topic


Page 16 of 16 « First< 12 13 14 15 16

 

View croydon proud's Profile croydon proud Flag Any european country i fancy! 11 Apr 21 5.52pm Send a Private Message to croydon proud Add croydon proud as a friend

Originally posted by AERO

Yes thats the Master plan probably not so far North but Croydon Flats will certainly be dropping in value with all the new builds going up in and around Central Croydon.

Good idea, the hull thing is just my back up plan if things continue to go south over here, pardon the pun!

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 11 Apr 21 9.41pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

Originally posted by Tim Gypsy Hill '64

Nobody is in trouble if they own property. Whether it is a flat, a garage, a shop,...(notwithstanding derelict properties etc.) it matters not. Property rarely loses value, and if it does, it recovers in a short amount of time. There has been slumps in housing prices in the past, and the only people who suffered were those that panicked and estate agents. But I have no sympathy for them anyway. As soon as you buy a property with a mortgage, the only change in the monthly cost is due to interest rate change. That can go up and that can go down. Whereas rent goes up with inflation. Every time inflation increases, rent increases. It NEVER goes down. If somebody can afford to pay a mortgage, and has a deposit, they should buy a property if that is what they wish to do.

I am of the opinion that leejaneagles got talked out of buying his 'ideal home' a year ago by negative opinions like yours. He would be enjoying his independence now, and his mortgage, which he could afford at the time, would still be the same. He would have lost nothing. Even if the value of his flat had decreased, he would still have a flat which he could afford. And was where he wanted to live.

All assuming he didn't lose his job. Which can happen regardless of pandemics and property price fluctuations. But if you never take that risk, you will never leave home.

I actually stated the best time to buy would have been about a year ago, when the first lockdown relaxed

If someone is looking to buy and hold for 10 years, sure, your statement is more likely to hold water

But you can time the market, and it is beneficial even if you’re looking to hold rather than sell in the short to medium term - buying or selling at the wrong time regardless of scenario can and will in most cases cost you or lose you money, and you don’t always get it back.

Especially if you’re a first time buyer in boom areas - now is not the time to purchase if you’re being sensible. Wait for the stamp duty holiday to end and see how things play out.

I agree on risk - but there a higher and lower levels of risk. It’s not a simplistic, binary decision

And rents DO and HAVE gone down in some areas, both over the last 12 months and historically. Some by the small matter of 30% in London. But your general point re. Rent waste vs mortgage return is valid, however this doesn’t mean mortgage is always better than renting at any given moment in time.

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View PalazioVecchio's Profile PalazioVecchio Flag south pole 14 Apr 21 11.50pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

booming prices nationally.

Mods maybe can you change thread title to ''London House Prices''

[Link]

 


from the Etihad, Emirates, Molyneux, London Stadium, the Vitality, turf moor & Anfield to Old Trafford x 2.....or a neighbourly visit to Craven Cottage...Raptors on the Road

Alert Alert a moderator to this post Edit this post Quote this post in a reply

 

Page 16 of 16 « First< 12 13 14 15 16

Previous Topic | Next Topic

You are here: Home > Message Board > News & Politics > The Great London House-Price Softening