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Exercises in run up to house purchase

techguy · 2016-08-02 13:05:33

Hello, I would like to buy a property in London in the next 12-24 months. Posting the question here as the "homework" to be done remains the same regardless of market I guess. Aside from the political / regulatory side of things, which I am also considering. This question relates to purely numbers. I would like to start an…

02-08-2016 1:05pm

#1
techguy

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Posts: 1635
Hello,

I would like to buy a property in London in the next 12-24 months. Posting the question here as the "homework" to be done remains the same regardless of market I guess. Aside from the political / regulatory side of things, which I am also considering. This question relates to purely numbers.

I would like to start an spreadsheet to track house prices, interest rates and mortgage offerings over time. This should allow me to "keep an informed eye" on the market. I would also like a stress test in there also so I can stress a potential mortgage on interest rate rises.

How do people go about tracking these things? I am thinking about getting a source of values which come out on a monthly/quarterly basis. I think it would be beneficial to track things like:
Average property price in London

Prices of property im interested in (e.g. 1/2 bed apartment in certain postcodes)

Other benchmark property indicators such as luxury / new developments etc

Mortgage interest rates

BOE interest rates

Inflation

Would it also be beneficial to take a sample of listings in desired postcodes and track the asking vs sale price etc. This would give a "real" indicator of market.

Bascially, I would like to formally collect information myself that I can either assess myself every so often or have somebody else run through.

Do others do this and if so how?

By the way, I wasn't sure where to post this so if it's the wrong place, mods feel free to move.

Thanks folks

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