Roamer.com

On my journey to become a professional property investor and developer I went along to my first property auction last night. I had read over the details of the property beforehand and looked in to the previously sold prices as well as the current asking prices in the area. I didn’t intend to bid but went through the motions as I would have if I was going to to get the full experience. I had calculated that my top price for the property in question was to be £160,000. This was perhaps a little under what one could have gone up to as I was edging slighty on the safe side, but that’s the way I will play these things anyway especially in the early stages.

The auction was (more…)

Having just watched a program about the current property market and the comments about affordability that not only this program mentioned but that is also all over the press at the moment I thought I would share my comments on this.

All we are hearing about in the media is about the current house price to earnings ratio in regard to affordability which I have heard as being 1:9 and in 1990 around the time of the property crash this was around 1:5. This is being reported in a way that suggests we are now in for a property crash and that the current market is not sustainable etc etc. Whilst I feel that prices may be heading for a downturn or at least a levelling off my opinion is that a big part of the reason is the lack of confidence in the market that the media is fueling. I see the way they are reporting the figures as being mis-representative as they are not taking in to account the current interest rates. (more…)