to think all this nonsense about house prices being too high is just that - Nonsense!

[RazahFluffy]

DH and I have long been in the property game. We actually met whilst working as Estate Agents back in 1999!

I've seen a lot in my time as an agent - 2008/2009 were a bit of a blip, but overall, there's one thing I've always had faith in, and that's bricks and mortar and that prices always go up. They aren't making more land after all 😁

As well as working in property, we've got a few of our own. We started off as accidental landlords after we got together and kept both our homes to rent out when we decided it was time to move in together and find a place of our own. Over time we've added a few more to the portfolio.

We are lovely landlords. We let our tenants have our houses as their homes, and we like to do little things like send them Christmas hampers, and know their birthdays so we can send a card and usually a Pizza Express voucher.

Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

It's still buoyant and the buyers registering at the agency are no different to usual - excited to either 'get on the ladder' or move to their next step towards their eventual forever home😊Vendors are still confident. They agree with us that houses are actually a bit too cheap, all things considered because inflation is quite high.

The one thing I'd have to say is if you can't afford a mortgage at the moment - think about your expectations. You might have thought previously that you could afford a 4 bed, but if you can only get a 3 bed for now is that really so bad? First time buyers especially I feel need to be realistic!

Property always goes up and it's no different now. We're really confident and having seen it all in this game, we really think it's time to believe in the market💪

Jake Berry is that you? If we have politicians who say “pay bills by getting better paid work” then I can believe this tone deaf out of touch attitude.

Best post on the thread 😂

Yes this.

And now they never will be able to as their rent has just gone up!!!!!!

You didn't mention how you both got your first properties.

With parent's help?

I'm going with the journo too. Began with the expectation they could get a headline along the lines of 'Women Have Faith In Truss' or similar.

S/he realised it was going 'wrong', not such headline would be forthcoming and just decided to role-play the worst elements of the worst snobs on this site for fun.

If the OP is real, it’s a typical estate agent. Can’t write anything without the overuse of exclamation marks.

It may be a cliche but this thread demonstrates that estate agents are liars who’ll say anything to make a sale

I can't believe how many people think the OP is actually being serious.

The sad thing is that a lot of posters on Mumsnet probably do think their parents owe it to them to do something like this.

6/10 - the tone of your first post isn't quite there, but thanks for the entertainment - particularly love the Kirstie and Phil bit

Who even are you? I mean, other than a troll or someone who is thick as mince and has not one tiny grasp on how the economy works.

This thread is 'burn a £50 note in front of a homeless person' level of sociopathic taunting.

What’s the point of this post? Failed attempt at a stealth boast? It seems tone deaf, honestly. People are worried about paying for food and heating their homes this winter. Buying a home is an impossible dream for many.

@Babyroobs

Fine for people like you owning multiple properties to preach to those struggling. Your post has infuriated me, what exactly was the point?

The point was very clearly that in her opinion it's still a good idea to buy a house now because prices won't tank. There've been a multiple posts lately of people saying that they can buy a house but will wait because they think that the house prices will crash massively. You're focussing on her riches instead of reading her experience as an estate agent and landlord. Let go of that and read again.

I agree with the OP. I've heard so often that the prices will crash by 30% or 50% or whatever and it's bullshit. If they crash it's several prrcentages and it will pick up again within a few years. The inflation is also still going strong so that will cushion any fall. Like OP I've seen this before. If you can buy a house, just do it and don't wait.

🤣 Yeah, okayyyy. THAT was the point. Got it. 😵‍💫

People - the exclamation marks/emojis give it away.

stop feeding it.

1. affordability is a time bomb which will explode at some point. The increase in the ratio between wages and House prices isn't sustainable. This will happen sooner rather than later if there is a serious economic crisis

2. Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

This comment is so ignorant and fucked in the head it's untrue. It won't age well. The warning from the BoE is serious and terrifying.

Exactly my thoughts. This is the OP's first and only post ...read between the lines.

This is the worst ad for real estate I have ever seen.

housing affordability is a real problem. Be it rental or purchase or doesn’t really matter. There are many metrics, but a simple one is can a full-time median wage worker in the area afford housing. The answer in many areas is frequently becoming no.

even the old strategies of relocating to improve affordability are becoming less useful.

For other users, not the OP (OP please don’t bother replying) one of the big risks ahead is the possibility that BTL could collapse the housing market.

Why? Because LL are no longer able to offset mortgage payments against income, so when it comes to remortgaging it’s likely that the cost of being a LL is so high that you’re actually paying to have tenants in your property. Rents just won’t go up that much and house prices won’t go up at same rate so people will choose to sell, which in turn will deflate prices.

If you’re a LL renting out a house for £2500pcm with a 500k mortgage, your rate (let’s say it was 2% goes up to 6%) goes from £10k to £30k.

You get £30k p/a rent. Let’s assume you pay agency fees of 8% and some repairs which are maybe £3.5k. That leaves you with £26.5k on which you pay 20% tax leaving you with

£21,200. Under the old rate you’d have paid £10k mortgage and had £11.2k leftover. Now you pay 30k mortgage and have a shortfall of £8,800.

The only way for this to work is for the govt to reinstate tax relief on mortgage interest payments, and for rents to go up. Otherwise it will fall apart.

ha ha ha