House prices rose 7.3% this year, average now almost £250k

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FoxEye said:
Wonder how many scalpers would be left standing after that...
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I wonder how many scalpers would be left standing if people had a bit more patience and didn't push a consumer society.
I'd argue that people like you who are desperate to buy the newest shiny things are the reason that scalpers exist. If you could just wait a few months then you'd be able to buy from a standard retailer without any problems.
 
touch said:
I wonder how many scalpers would be left standing if people had a bit more patience and didn't push a consumer society.
I'd argue that people like you who are desperate to buy the newest shiny things are the reason that scalpers exist. If you could just wait a few months then you'd be able to buy from a standard retailer without any problems.
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You'd be wrong tho. I haven't bought anything from scalpers. I haven't persuaded anyone to buy from scalpers. I *am* waiting.

I'm sitting on an i5 2500K so I'm hardly short of patience :p This will be the first proper upgrade since 2012.

I need a functioning PC for my work and the aging motherboard has already developed a fault. I'm one of the most frugal people you could possibly meet.
 
touch said:
I wonder how many scalpers would be left standing if people had a bit more patience and didn't push a consumer society.
I'd argue that people like you who are desperate to buy the newest shiny things are the reason that scalpers exist. If you could just wait a few months then you'd be able to buy from a standard retailer without any problems.
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Exactly my point.

People can pre order months in advance or wait if it's sold out.

Nobody is forcing the people who are paying over the odds. Also nobody is making millions by selling a single console for a couple of hundred quid to the point tax even comes into effect
 
FoxEye said:
You'd be wrong tho. I haven't bought anything from scalpers. I haven't persuaded anyone to buy from scalpers. I *am* waiting.

I'm sitting on an i5 2500K so I'm hardly short of patience :p This will be the first proper upgrade since 2012.

I need a functioning PC for my work and the aging motherboard has already developed a fault. I'm one of the most frugal people you could possibly meet.
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Only if you hadn't bought that 2500K all those years ago, and instead stuck with your Core 2 E6600, you'd be a homeowner now.
 
Some of you people are being uniquely unpleasant to each other, which is sad (in the emotion sense, not the offensive name calling sense).
 
Will Gill said £70-£150k, and you can definitely get a non-shared ownership, non-cash buyer only, non-short leasehold, non-student flat 2-bedder for less than £150k in Luton ;)

The first was £115k, but I’m sure there will be something wrong with it.
 
This thread man, it's crazy...

Here's something to add that I think dissuades people from going for a smaller home initially to get on the ladder - moving from one property to another is expensive! Average cost of most moves is about £10k which can really eat into any equity you might have accrued on that stepping-stone property
 
Fusion said:
Will Gill said £70-£150k, and you can definitely get a non-shared ownership, non-cash buyer only, non-short leasehold, non-student flat 2-bedder for less than £150k in Luton ;)

The first was £115k, but I’m sure there will be something wrong with it.
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A little bit longer than 20 mins away but looks like a mix of 40 min trains and some fast trains at 30 mins... not too bad! Looking at right move it's a pretty cheap area considering how close it is to London in terms of travel times...

Actually quite tempting... though isn't it full of EDL types and radical Muslims? Maybe it's got a bad rep - I'd be half tempted to take a look at some of the places for sale there, could flog my flat and get a decent-sized family home there quite easily.
 
Fusion said:
Will Gill said £70-£150k, and you can definitely get a non-shared ownership, non-cash buyer only, non-short leasehold, non-student flat 2-bedder for less than £150k in Luton ;)

The first was £115k, but I’m sure there will be something wrong with it.
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I'm sorry you lost me at Luton
 
uncle_rufus said:
This thread man, it's crazy...

Here's something to add that I think dissuades people from going for a smaller home initially to get on the ladder - moving from one property to another is expensive! Average cost of most moves is about £10k which can really eat into any equity you might have accrued on that stepping-stone property
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We've purchased our first house, two bed, £277,750.
New build, terribly finished, various issues.

Providing a second snagging list soon :p

It gets us on the ladder where we are, hopefully after a few years we can move up.
 
Delvis said:
We've purchased our first house, two bed, £277,750.
New build, terribly finished, various issues.

Providing a second snagging list soon :p

It gets us on the ladder where we are, hopefully after a few years we can move up.
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They wont do anything with the snagging list, or at least the very bare minimum - i.e the serious things.
 
Delvis said:
We've purchased our first house, two bed, £277,750.
New build, terribly finished, various issues.

Providing a second snagging list soon :p

It gets us on the ladder where we are, hopefully after a few years we can move up.
Click to expand...

Similar to us, though 250k here for a 4 bed (3.5 really)... 8 years later still hoping for that opportunity to move up :p
 
Vanilla said:
They wont do anything with the snagging list, or at least the very bare minimum - i.e the serious things.
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It's a job people don't just take your word for things, isn't it?

The guy we deal with is committed, we've had people over fixing a leak, changed door handles because of issues, redecorating areas because it wasn't upto par, etc. etc.

Seriously wish people wouldn't just spread misinformation all the time.
 
uncle_rufus said:
Here's something to add that I think dissuades people from going for a smaller home initially to get on the ladder - moving from one property to another is expensive! Average cost of most moves is about £10k which can really eat into any equity you might have accrued on that stepping-stone property
Click to expand...
I think the main issue is that because BTL has pushed the prices of 1-2 bed flats (starter homes) completely out of reach of FTBs, the average age of FTBs is actually now 37-38yrs old. Right around the age that people are having kids and wanting to settle down. Who wants to bring up kids in a 1-2 bedroom flat? No one. Many boomers who call millennials entitled for wanting to buy a small house at 35-40yrs old are conveniently forgetting it's because they simply want to start a family and do all the normal 'adult' things like settle in an area with good schools, amenities etc. All without being on 2 months notice. Which is exactly what the boomers did on their second rung of the ladder.
 
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uncle_rufus said:
This thread man, it's crazy...

Here's something to add that I think dissuades people from going for a smaller home initially to get on the ladder - moving from one property to another is expensive! Average cost of most moves is about £10k which can really eat into any equity you might have accrued on that stepping-stone property
Click to expand...

You generally wouldn't move house every few years. You also wouldn't move unless there was a significant upgrade of some sort whether it be location, size, price.

You would always have to factor in legal costs, moving, storage, fees and stamp duty.

The main reason why people don't move up the ladder is they overextend on the first home.

For example if you can only get a mortgage of say 200k and your first home is 250k with a 50k deposit. Chances are in 5 years time you will only have paid off £30k or so. So you realistically shouldn't be moving up the ladder for 10-15 years. By the 10 year mark you could have paid off £70k and by the 15 year mark £120k on 30 year term. Realistically then it would be worthwhile moving up the ladder unless of course your wages have significantly improved over that time which isn't the case for majority of people.

Unless you don't max out your mortgage. Borrow less. Pay it off much quicker than a 30 year term. Then you have much more equity and potentially additional savings to add on top and money to have significantly improved the current property.

Nobody has ever bought a home then moved up the ladder a few years later. Not even 30-40 years ago.
 
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