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UK House Prices fall again
House prices fell for a fourth month running in February to post the lowest annual rate of inflation in more than two years, the Nationwide Building Society said on Friday. It said house prices fell 0.5 percent on the month in February after a downwardly revised 0.3 percent fall in January. Analysts polled by Reuters had forecast a flat reading on the month.
Annual house price inflation fell to 2.7 percent -- its lowest since November 2005 -- from 4.2 percent in January.
source/full stor yuk.reuters.com/article/businessNews/idUKL2850910320080229?feedType=RSS&feedName=busine ssNews
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Junior Member
Whoa. Prices are plummeting all over. The world economy is getting a good spanking, so it seems. Home prices in the US have downright careened to record lows. Woe to those who bought during the high times.
Ed Womack
Get Milked
Senior Member
My wife and I almost put in an offer on an apartment.
After analaysing the market carefully and what is currently going on, we decided to pull out of buying our dream home - for now.
There are certain aspects to take into account today.
Building societies and banks are no longer giving money away for free.
In the USA they were pratically throwing it at you with interest rates as low as 1pc a while back.
In the UK they were giving 125% mortgages, no deposit. Those who bought a couple of years ago and are coming out of their fixed rate period now are in for a shock because the reality is their mortgage payments will be going up by hundreds of pound a month.
On a £300,000 with a deposit of £30,000, monthly payments I believe will be in the region of £1400. That is on interest only. At the end of the 25 year period the property will not be yours.
On the same property you can rent for £800 per month. Financially - you are better off by £600 per month. This money you can save, increase your deposit. Let the house prices come tumbling down and steam in their when the market has adjusted itself to its true worth.
Overall:
By waiting your deposit will increase, the mortgage will be lesser and you'll have more money in your pocket.
Hold out folks. Bank are no longer giving away money nothing!
Junior Member
UK house prices fall 1.2% in this month
UK house prices fall 1.2% in June as house price growth reaches near zero for past twelve months
U.K. house prices have declined by their biggest amount so far this year as buyers shun the market, thereby deepening Britain's property slump,
Junior Member
If I buy a house in UK , then is it possible to have green card to live in UK lifetime ?
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