love_rat Posted September 19, 2011 Share Posted September 19, 2011 Great news, house prices are going up. That means I will move house. Well, no I can't because although my home has gone up, the house I want to buy (next step up) has also gone up in price. I suddenly don't feel quite so rich anymore. Link to comment Share on other sites More sharing options...
Resident Posted September 19, 2011 Share Posted September 19, 2011 It's partly the latter choice in the thread title and the fact that banks are taking lesser risks when handing out mortgages. The sad irony of it is that at least in my residential area the average monthly mortgage payment is less than the average monthly rental payments. For instance. There are some 'new' 2 bed flats (I say new, they're 3 yr old and still no-one rents them) with an rental cost of £600 a month. Given the flat's actual market value, buying the flat would be around £170 a month CHEAPER in mortgage repayments. Link to comment Share on other sites More sharing options...
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