How far will house prices fall [volume 4]

How far will house prices fall [volume 4]

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FourWheelDrift

88,375 posts

283 months

Thursday 17th April 2014
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Looks like prices are on the up & up - http://www.rightmove.co.uk/property-for-sale/prope...

NPI

1,310 posts

123 months

Thursday 17th April 2014
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Targarama said:
Same for 5 beds, the new one initially looks overpriced:

http://www.redrow.co.uk/houses/leicester-road-coun...
That Redrow house looks a great family property. They sell it in other locations - not many of them have prices but of the ones that do, it's cheapest in Countesthorpe and up to £100K dearer elsewhere.

Considering there's normally a significant new build price uplift, then the prices of the existing established property in Countesthorpe looks bonkers.

jdw1234

6,021 posts

214 months

Thursday 17th April 2014
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NPI said:
Targarama said:
Same for 5 beds, the new one initially looks overpriced:

http://www.redrow.co.uk/houses/leicester-road-coun...
That Redrow house looks a great family property. They sell it in other locations - not many of them have prices but of the ones that do, it's cheapest in Countesthorpe and up to £100K dearer elsewhere.

Considering there's normally a significant new build price uplift, then the prices of the existing established property in Countesthorpe looks bonkers.
Wow, a new build that isn't completely ste!!

I actually really like the look of that. Are Redrow more high end?

Otehrwise, I assume it has a postage stamp garden, inadequate parking, annual liabilities to a (defunct in the future) management company to maintain the communal areas, the walls are made of paper and it has a shared driveway with an affordable house full of gypsies who park 20 cars on the narrow streets.

Targarama

14,635 posts

282 months

Thursday 17th April 2014
quotequote all
NPI said:
Targarama said:
Same for 5 beds, the new one initially looks overpriced:

http://www.redrow.co.uk/houses/leicester-road-coun...

But then you see this:

http://www.rightmove.co.uk/property-for-sale/prope...

Gardens on the bigger new houses are not too small either, and many have double garages/plenty of parking.
That Redrow house looks a great family property. They sell it in other locations - not many of them have prices but of the ones that do, it's cheapest in Countesthorpe and up to £100K dearer elsewhere.

Considering there's normally a significant new build price uplift, then the prices of the existing established property in Countesthorpe looks bonkers.
Yup. I know older houses can sometimes have large plots, high ceilings etc but most of the stock around here is 1960-1980s dross. I bought a 'Richmond' to the same spec as their showhouse and we love the place - big rooms, high ceilings and a 'big enough' size garden.

Targarama

14,635 posts

282 months

Thursday 17th April 2014
quotequote all
jdw1234 said:
NPI said:
Targarama said:
Same for 5 beds, the new one initially looks overpriced:

http://www.redrow.co.uk/houses/leicester-road-coun...
That Redrow house looks a great family property. They sell it in other locations - not many of them have prices but of the ones that do, it's cheapest in Countesthorpe and up to £100K dearer elsewhere.

Considering there's normally a significant new build price uplift, then the prices of the existing established property in Countesthorpe looks bonkers.
Wow, a new build that isn't completely ste!!

I actually really like the look of that. Are Redrow more high end?

Otehrwise, I assume it has a postage stamp garden, inadequate parking, annual liabilities to a (defunct in the future) management company to maintain the communal areas, the walls are made of paper and it has a shared driveway with an affordable house full of gypsies who park 20 cars on the narrow streets.
I wouldn't call them the highest quality but my last place was a Berkerley Home. Finish quality is pretty good. Awesome kitchen, good showers, LED lighting, big double garage, big driveway. Only issues we've had are due to them using subcontractors - plumbing etc. All fixed with no quibbles. Our 'Richmond' (same finish as showhome) is great. Paid £439,995 last summer, developer now asking £445,999 and they've sold nearly everything they're building for the next 9 months. Same house design is £540k+ in the Peacock Lane development in Bracknell!

NPI

1,310 posts

123 months

Thursday 17th April 2014
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Targarama said:
Same house design is £540k+ in the Peacock Lane development in Bracknell!
Surprised it's not more than that. The Blenheim is £740K at Pease Pottage, W Sussex.

DS3R

9,807 posts

165 months

Sunday 20th April 2014
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http://www.zoopla.co.uk/for-sale/details/32163970

Listing history
First listed
£375,000 on 1st Mar 2014
Asking price changes
£465,000 24.0% Increased on: 14th Mar 2014
£475,000 2.2% Increased on: 29th Mar 2014
Page views
Last 30 days: 54 | Since listed: 965

+24%??????? Bubbly bubble bubbles on... And I'm a positivist on all this!

Magog

2,652 posts

188 months

Sunday 20th April 2014
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I'm not a regular watcher of Sky News so I'm not familiar with Ed Conway,but I stumbled across his blog which seems quite interesting. I Thought it might be of interest to some here.

A post about regional imbalances and the Bank of England;

http://www.edmundconway.com/2014/03/why-the-bank-o...

Another little snippet about a record level of Mortgage debt write off;

http://www.edmundconway.com/2014/03/uk-mortgage-wr...

fido

16,752 posts

254 months

Sunday 20th April 2014
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From 2011 .. http://www.theguardian.com/business/2011/may/05/ho... .. just saying no one really has a clue!
I'm in London Zone 4 and even a 2 bed flat is only affordable to well paid graduates. It's just gone mental - I can't see this ending well.

Edited by fido on Sunday 20th April 22:53

NightDriver

1,080 posts

225 months

Wednesday 30th April 2014
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Thought I'd resurrect this old chestnut!

Todays report from Land Registry shows there's been a bit of a slow down in March, average prices down 0.4% but still 5.6% on top of last years. London still on the up but growth has slowed right down. South East showing a drop. (http://www.bbc.co.uk/news/business-27223041)

Only monthly figures so could be a glitch, but with Funding for Lending only being cut from the start of April and MMR having just come in, I'd be surprised if there is going to be much of a resurgence in the next couple of months at least.

Also interesting article on Grosevnor Estates selling off £240mil of their prime london real estate, now investing in rental blocks in lower cost areas. http://www.telegraph.co.uk/finance/newsbysector/co...

okgo

37,855 posts

197 months

Wednesday 30th April 2014
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Strap in - here we go. I'll be in a townhouse in Fulham in no time!

Dave_ST220

10,288 posts

204 months

Thursday 1st May 2014
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jdw1234 said:
Wow, a new build that isn't completely ste!!

I actually really like the look of that. Are Redrow more high end?

Otehrwise, I assume it has a postage stamp garden, inadequate parking, annual liabilities to a (defunct in the future) management company to maintain the communal areas, the walls are made of paper and it has a shared driveway with an affordable house full of gypsies who park 20 cars on the narrow streets.
New build houses are actually pretty good. Not all have postage stamp gardens. Not all have paper thin walls. Not all have shared driveways.

However all of your other points are valid IMO which is why I wouldn't touch one with a stty stick. Ever (again wink) (unless I was building it in my own huge plot in a nice establish area! ie, not in fields that may have high density st built on them)

Prices seems silly around here again & selling in days. Perhaps the early sunny days & mild winter have made them go mad?

z4chris99

11,218 posts

178 months

Thursday 1st May 2014
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looks like Grosvenor have called the top of the prime market.

wait for the correction

Digga

40,206 posts

282 months

Thursday 1st May 2014
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jdw1234 said:
Are Redrow more high end?
They certainly aren't in the "cram 'em in and sell 'em cheap" camp of some other builders.

jonny70

1,280 posts

157 months

Thursday 1st May 2014
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z4chris99 said:
looks like Grosvenor have called the top of the prime market.

wait for the correction
any predictions ,when?

ClaphamGT3

11,269 posts

242 months

Thursday 1st May 2014
quotequote all
jonny70 said:
z4chris99 said:
looks like Grosvenor have called the top of the prime market.

wait for the correction
any predictions ,when?
Grosvenor have a relatively low appetite for risk and seek to maintain a balance of on and off estate development and portfolio. Since their big 'off estate' schemes in Liverpool, Crawley and Cambridge all came to an end a few years back, their main focus has been on-estate development of high-end resi.

This decision looks like a mix of typical inv com prudence and an appetite to balance the GBI on and off estate focus.

I suspect that the prime resi will go a little while yet; we're seeing Asian, Ukranian and Western European money flowing into the market with Asia remaining strong, albeit with storm clouds gathering in their economy. That said, we're getting more and more funders looking to take off prime product and, increasingly, out of London product, which indicates that the market may ease up somewhat over the next 6-18 months

z4chris99

11,218 posts

178 months

Thursday 1st May 2014
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Id say the asian market for prime is pretty dead, they are happy upto about £1200psf but not really over that.

russian are still about, arabs are still about.

turbobloke

103,741 posts

259 months

Saturday 3rd May 2014
quotequote all
From yesterday's front pages, the first was on the Express cover and the second was on the front page of The Times, but the link below is from the Indy.

House prices are rising at their fastest rate since 2007 as values soar by £1500 a month it was revealed yesterday

London flat sells for UK property record price of £140m

jonah35

3,940 posts

156 months

Monday 5th May 2014
quotequote all
Dave_ST220 said:
jdw1234 said:
Wow, a new build that isn't completely ste!!

I actually really like the look of that. Are Redrow more high end?

Otehrwise, I assume it has a postage stamp garden, inadequate parking, annual liabilities to a (defunct in the future) management company to maintain the communal areas, the walls are made of paper and it has a shared driveway with an affordable house full of gypsies who park 20 cars on the narrow streets.
New build houses are actually pretty good. Not all have postage stamp gardens. Not all have paper thin walls. Not all have shared driveways.

However all of your other points are valid IMO which is why I wouldn't touch one with a stty stick. Ever (again wink) (unless I was building it in my own huge plot in a nice establish area! ie, not in fields that may have high density st built on them)

Prices seems silly around here again & selling in days. Perhaps the early sunny days & mild winter have made them go mad?
New builds are good if you buy one 2-3 years old. You usually get at a 20% discount on the new price, the lawn, patio, carpets, interior etc will all have been done and maturing nicely. You also get to see how it is once completed.

You can often get repossessions too as people that bought new over stretched.



jonah35

3,940 posts

156 months

Monday 5th May 2014
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Property will keep rising whilst rates are low. Don't forget next year thousands will cash in their pensions which will push btl upwards, especially for cheap northern terraces.

Rates prob wont rise pre election and before the govt lloyds sell off.

I think next 24 months will see prices go mad, then when rates rise and pensions have been milked and the election is a memory there will be no more easy, cheap cash and I cant forecast what will happen beyond that!
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