How far will house prices fall [volume 4]

[Dave_ST220]

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?

In short, no! (just rebuilt a 70's stbox, wife eating words, you can actually "polish a turd )

[V6Alfisti]

JagLover said:

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.

Indeed but how much more can they do? Can't really drop interest rates any further for example.

[turbobloke]

V6Alfisti said:

JagLover said:

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.

Indeed but how much more can they do? Can't really drop interest rates any further for example.

In theory they could, there's a whole world of negative numbers below zero!

[JagLover]

V6Alfisti said:

JagLover said:

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.

Indeed but how much more can they do? Can't really drop interest rates any further for example.

QE has probably been the biggest factor boosting asset markets (including housing) not low interest rates.

[V6Alfisti]

JagLover said:

QE has probably been the biggest factor boosting asset markets (including housing) not low interest rates.

I am certainly not an expert in this (in fact likely to be flagged an idiot on the subject), but ultimately I understand QE to be the government printing money, to buy bonds, which ultimately reduces the interest rate to increase borrowing, so people borrow more, and hurrah spending increases resulting in growth.

Yes rates could go negative, but if the current 0.5% base isn't enough to see the economy boom...seems to me that QE is used to reduce interest rates to promote spending and growth and thus interlinked?

Also when rates do rise, the x will really hit the fan as people are living to the penny and now instead of say a £200k mortgage, are looking at £400k plus!

[SilverSixer]

Dave_ST220 said:

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?

In short, no! (just rebuilt a 70's stbox, wife eating words, you can actually "polish a turd )

This pleases me enormously. I moved from an Edwardian wind tunnel in to a toasty 70s box in 2009, and it was a hard sell to get the missus to give up "period features" for large, bright rooms, proper gardens front and rear and a double garage with driveway. OK, the house is still a bit ugly. But I ain't sitting outside looking at it.

I told her at the time that well built examples of 70s houses in good locations would become very sought after in the forthcoming decades - seems my spider senses have been proven right. They were hideously unfashionable for a long time, just like Victorian and 30s houses were, they're coming in to their own now.

[CountZero23]

anonymous said:

[redacted]

I really like that.

It's interesting what you can do when formerly cheap homes are suddenly worth serious money and justify a decent investment.

[Esseesse]

SilverSixer said:

Dave_ST220 said:

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?

In short, no! (just rebuilt a 70's stbox, wife eating words, you can actually "polish a turd )

This pleases me enormously. I moved from an Edwardian wind tunnel in to a toasty 70s box in 2009, and it was a hard sell to get the missus to give up "period features" for large, bright rooms, proper gardens front and rear and a double garage with driveway. OK, the house is still a bit ugly. But I ain't sitting outside looking at it.

I told her at the time that well built examples of 70s houses in good locations would become very sought after in the forthcoming decades - seems my spider senses have been proven right. They were hideously unfashionable for a long time, just like Victorian and 30s houses were, they're coming in to their own now.

I also moved to a 70s box nearly a year ago. It ticks all the things that yours does, apart from sadly only a single garage.

I think the thing that is appealing about these houses is that whilst there are details that are off-putting (in mine wood cladding in some rooms, drab kitchen and fire place, and felt tiles on the front of the house), the key things they get right... big windows, good sized rooms, big plots with spaces between the houses. The unfashionable details can be dealt with.

Also when they were built they were honest and modern, not trying to take off some twee period features which is what I think really drags down some of the stuff that gets built today.

Edited by Esseesse on Thursday 8th October 16:14

[Esseesse]

anonymous said:

[redacted]

I've just looked at that again and noticed it's on for £1.25M , probably about 3 times what it would be worth where I am (only 40 mins to St Pancras).

Glad I don't live inside the M25!

Edit: You must be able to hear if not see the M25 from there too.

Edited by Esseesse on Thursday 8th October 16:21

[V6Alfisti]

CountZero23 said:

I really like that.

It's interesting what you can do when formerly cheap homes are suddenly worth serious money and justify a decent investment.

Blimey, that's quite a change.

[okgo]

Esseesse said:

I've just looked at that again and noticed it's on for £1.25M , probably about 3 times what it would be worth where I am (only 40 mins to St Pancras).

Glad I don't live inside the M25!

Edit: You must be able to hear if not see the M25 from there too.

Edited by Esseesse on Thursday 8th October 16:21

fking hell, not AGAIN.

[Esseesse]

okgo said:

fking hell, not AGAIN.

I have no idea what you're referring to.

[okgo]

The price thing. Next you'll be surprised a 2 bed flat in Knightsbridge costs more than it does in Worksop

[Magog]

V6Alfisti said:

CountZero23 said:

I really like that.

It's interesting what you can do when formerly cheap homes are suddenly worth serious money and justify a decent investment.

Blimey, that's quite a change.

It's a good effort, and some of the interior is nice as is the rear elevation, but it's very 'nouveau'. Only needs blue LEDs and the lion statues to complete the look. It must stick out like a sore thumb amongst the neighbouring houses, if it was mine I'd cringe each time I came home. Also, the exterior finish will undoubtedly weather quickly and badly. That said they deserve 10/10 for a cracking attempt at the record for worlds smallest in-and-out driveway.

[Dave_ST220]

Esseesse said:

the key things they get right... big windows, good sized rooms, big plots with spaces between the houses. The unfashionable details can be dealt with.

We actually reduced the size of every single window, I lie, the downstairs bog stayed the same. I'd say the most unfashionable part of ours was the old stairs in the living room, thank fk we crated a hallway It cost a fair bit to sort it all but by taking the house back to bare block throughout & extending on pretty much every elevation we now have a great house in a great area. Hard bloody work but better than buying a new build & living in a building site for years while they decide what st to build next. Back to prices, one around the corner came on at what I thought was a ridiculous price, sold in 24 hrs. Tiny garden (most gone on the extension at the rear), still has integral (windy) garage, not sure if stairs are still in living room but would imagine they must be (didn't even have time to get floor plans done).

[Magog]

anonymous said:

[redacted]

This one?

https://goo.gl/maps/HtCxZBdZvyk

Much more tasteful, and in keeping with the betjmanesque image of Surrey I like to keep in my head, bowler hatted stock brokers and pipe smoking civil servants on the 6.58 and all that. Not having to live next door to Chris Tarrant or John Terry.

[Mr Moley]

anonymous said:

[redacted]

I agree with a lot of this but in fairness no parking was the point!

[Derek Chevalier]

Magog said:

V6Alfisti said:

CountZero23 said:

I really like that.

It's interesting what you can do when formerly cheap homes are suddenly worth serious money and justify a decent investment.

Blimey, that's quite a change.

It's a good effort, and some of the interior is nice as is the rear elevation, but it's very 'nouveau'.

That's pretty much the standard style for refurbs in Surrey

[Esseesse]

Derek Chevalier said:

Magog said:

V6Alfisti said:

CountZero23 said:

I really like that.

It's interesting what you can do when formerly cheap homes are suddenly worth serious money and justify a decent investment.

Blimey, that's quite a change.

It's a good effort, and some of the interior is nice as is the rear elevation, but it's very 'nouveau'.

That's pretty much the standard style for refurbs in Surrey

I agree with the nouveau comment. Not bad but everything about it very predictable.

Edited by Esseesse on Thursday 8th October 22:04

[Esseesse]

anonymous said:

[redacted]

Don't disagree...