How far will house prices fall [volume 4]

How far will house prices fall [volume 4]

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Challo

10,043 posts

154 months

Tuesday 22nd September 2015
quotequote all
Bullett said:
Jennets Park? It's a rabbit warren.
Yeah thats the place. A few friends live their and its a nightmare. No shops, not enough parking so all the side streets cluttered with cars half on the pavements, and due to constant building the main roads have only just been finally finished years after people moved in.

HughG

3,539 posts

240 months

Tuesday 22nd September 2015
quotequote all
Challo said:
Bullett said:
Jennets Park? It's a rabbit warren.
Yeah thats the place. A few friends live their and its a nightmare. No shops, not enough parking so all the side streets cluttered with cars half on the pavements, and due to constant building the main roads have only just been finally finished years after people moved in.
We have friends who moved from there recently too, also made very good money selling theirs to the developer of their next new build. New build developments aren't our preference but Jennets Park seemed particularly bad.

Magog

2,652 posts

188 months

Tuesday 22nd September 2015
quotequote all
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.

Burwood

18,709 posts

245 months

Tuesday 22nd September 2015
quotequote all
Magog said:
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.
Easy- most people are gullible. Picture, 5% down, developer tips in 5%, free legals, free stamp duty. The true value is inflated to cover it. Buyers gets house-instant negative equity, happy days until they come to sell

p1stonhead

25,489 posts

166 months

Tuesday 22nd September 2015
quotequote all
Burwood said:
Magog said:
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.
Easy- most people are gullible. Picture, 5% down, developer tips in 5%, free legals, free stamp duty. The true value is inflated to cover it. Buyers gets house-instant negative equity, happy days until they come to sell
Built some houses in Kings Hill, West Malling at my old company. Its exactly the same. Total fake toy land. Just awful.



Dave_ST220

10,288 posts

204 months

Tuesday 22nd September 2015
quotequote all
Challo said:
Chatting to a friend last night and he mentioned they just sold their 2 bed house in Bracknell Berkshire for 297,500 after only buying it for 202k 3 years previously.
Burwood said:
Buyers gets house-instant negative equity, happy days until they come to sell
Or not always as the case may seem..........

Moonhawk

10,730 posts

218 months

Tuesday 22nd September 2015
quotequote all
Dave_ST220 said:
Remind me who was in power when house prices were allowed to spiral out of control?
Indeed - and many of those in power at the time did very nicely out of the housing boom - owing to their taxpayer funded second homes in areas that saw the most growth. scratchchin

thismonkeyhere

10,296 posts

230 months

Tuesday 22nd September 2015
quotequote all
Magog said:
How can people bring themselves to hand over money to developers for st like that.
Lack of other viable options in more than a few cases I'd imagine.

Mr Whippy

28,945 posts

240 months

Wednesday 23rd September 2015
quotequote all
Dave_ST220 said:
Challo said:
Chatting to a friend last night and he mentioned they just sold their 2 bed house in Bracknell Berkshire for 297,500 after only buying it for 202k 3 years previously.
Burwood said:
Buyers gets house-instant negative equity, happy days until they come to sell
Or not always as the case may seem..........
As long as a bank is willing to lend money then prices will go up.

I wonder if banks are now relaxing equity rules because house prices are going up, so it's less risk to have higher LTV hehe

V6Alfisti

3,305 posts

226 months

Wednesday 7th October 2015
quotequote all
Major concerns about the global market, surely this will impact house prices?

http://www.cityam.com/225986/imf-emerging-markets-...

Esseesse

8,969 posts

207 months

Wednesday 7th October 2015
quotequote all
Mr Whippy said:
gibbon said:
The beginning of a change could happen in just over an hour, to hike rates or not?

I dont think they will, we shall see shortly...
I don't think they ever will raise them.
I think I agree with this, well at least not any time soon. AFAIK the US numbers for employment do not look good, and on interest rates they're painted in to a corner. More QE is more likely than interest rates going up.

tomw2000

2,508 posts

194 months

Wednesday 7th October 2015
quotequote all
turbobloke said:
It may be that my ISP is on a tea break but the link to that Ropsley property is now loading much slower than before, presumably quite a few PHers on this thread are taking a look? Best of luck with the sale tomw2000 smile
Update: I never expected folk to queue round the corner to view it but we've had 7 viewings.

Most of which were tyre kickers imo.

But now have 1 offer at asking price....let you know how that pans out. I'm realistic about such things. But you never know. Might work out. Fingers Crossed.

turbobloke

103,744 posts

259 months

Wednesday 7th October 2015
quotequote all
tomw2000 said:
turbobloke said:
It may be that my ISP is on a tea break but the link to that Ropsley property is now loading much slower than before, presumably quite a few PHers on this thread are taking a look? Best of luck with the sale tomw2000 smile
Update: I never expected folk to queue round the corner to view it but we've had 7 viewings.

Most of which were tyre kickers imo.

But now have 1 offer at asking price....let you know how that pans out. I'm realistic about such things. But you never know. Might work out. Fingers Crossed.
Sounds promising, best of luck.

turbobloke

103,744 posts

259 months

FourWheelDrift

88,382 posts

283 months

Wednesday 7th October 2015
quotequote all
turbobloke said:
London has also overtaken New York and the financial capital of the world.

mondeoman

11,430 posts

265 months

Wednesday 7th October 2015
quotequote all
Burwood said:
Magog said:
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.
Easy- most people are gullible. Picture, 5% down, developer tips in 5%, free legals, free stamp duty. The true value is inflated to cover it. Buyers gets house-instant negative equity, happy days until they come to sell
Eh? They made £95k....

JagLover

42,266 posts

234 months

Thursday 8th October 2015
quotequote all
V6Alfisti said:
Major concerns about the global market, surely this will impact house prices?

http://www.cityam.com/225986/imf-emerging-markets-...
Perhaps a small fall might result from a global recession.

The usual rules regarding boom and bust in house prices were ended in 2008 and it is clear now that governments of all political colours will do everything in their power to stop house prices falling significantly.

Esseesse

8,969 posts

207 months

Thursday 8th October 2015
quotequote all
p1stonhead said:
Burwood said:
Magog said:
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.
Easy- most people are gullible. Picture, 5% down, developer tips in 5%, free legals, free stamp duty. The true value is inflated to cover it. Buyers gets house-instant negative equity, happy days until they come to sell
Built some houses in Kings Hill, West Malling at my old company. Its exactly the same. Total fake toy land. Just awful.
Just had a look at Jennetts Park on streetview. There's plenty just the same in Bedfordshire, totally awful and anonymous. The bricks are too homogeneous, lego houses, and what happened to front gardens? Will these places improve as they mature and trees get bigger? Can they ever be as nice as the (modest) 3 and 4 bedroom detached houses put up in the 70's with good sized front and rear gardens?

JagLover

42,266 posts

234 months

Thursday 8th October 2015
quotequote all
Esseesse said:
Just had a look at Jennetts Park on streetview. There's plenty just the same in Bedfordshire, totally awful and anonymous. The bricks are too homogeneous, lego houses, and what happened to front gardens? Will these places improve as they mature and trees get bigger? Can they ever be as nice as the (modest) 3 and 4 bedroom detached houses put up in the 70's with good sized front and rear gardens?
People might pave over front gardens and actually have enough space to park two cars, and we cant have that can we.

Where we are is one of the last developments (locally) that received planning permission before Prescott and I have off street parking for about 3 cars and could pave over a lawned area and create parking for two more.

Challo

10,043 posts

154 months

Thursday 8th October 2015
quotequote all
Esseesse said:
p1stonhead said:
Burwood said:
Magog said:
Bullett said:
Jennets Park? It's a rabbit warren.
A fate worse than death more like. It looks like the set of The Truman Show! How can people bring themselves to hand over money to developers for st like that.
Easy- most people are gullible. Picture, 5% down, developer tips in 5%, free legals, free stamp duty. The true value is inflated to cover it. Buyers gets house-instant negative equity, happy days until they come to sell
Built some houses in Kings Hill, West Malling at my old company. Its exactly the same. Total fake toy land. Just awful.
Just had a look at Jennetts Park on streetview. There's plenty just the same in Bedfordshire, totally awful and anonymous. The bricks are too homogeneous, lego houses, and what happened to front gardens? Will these places improve as they mature and trees get bigger? Can they ever be as nice as the (modest) 3 and 4 bedroom detached houses put up in the 70's with good sized front and rear gardens?
Alot of the houses dont have front gardens as the front doors are built right up to the pavement. No parking for cars so constantly parked half on the road half on the pavement. Just feels very claustrophobic
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