How far will house prices fall [volume 4]
Discussion
p1stonhead said:
Yeah some have done that. Others like the below are fairly well proportioned at 1400sqft and have managed to keep three beds on the first floor. The smallest is acceptable for a forth and easily big enough for a single bed. Albeit a bit of a jump again. This one is actually sold as a five rather than 4 because two rooms in the loft instead rather than a master with ensuite. Still expensive though!
http://www.rightmove.co.uk/property-for-sale/prope...
I never like those loft conversions where people go for two bedrooms instead of a nice master suite - I get why people do it (big family, usually!) but we look at them and think that if you actually approached the sleeping capacity of the place you'd have less a family house than you'd have a massive argument over the single bath shared between your whole household. We got to a point where we didn't bother even looking at ones like that after a while, for us it makes no sense paying a premium for the loft conversion and then paying a load more to have it knocked into a format we could actually live with.http://www.rightmove.co.uk/property-for-sale/prope...
Also the words of doom: "one space per property, as well as a garage en bloc" - which in the real world usually turns out to mean "one of your d
khead neighbours has three cars and at least two households treat the bit in front of your garage as a visitor space". Okay in a ~£300k starter commuter house next to the station where you'd hardly ever use a car even if you owned one, disastrous in a near £600k family home where you've got enough on your plate herding the kids into the back seat without then having to go knocking on doors until you find out who's blocked you in today.Nicer, extended neighbours are already worth £500k.
http://www.rightmove.co.uk/house-prices/detail.htm...
p1stonhead, it looks like it was pretty good value at £266,500 in July 2013. Do you recall the specific circumstances?
Curiosity got the better of me so I read my colleague's notes. It was a family sale so possibly probate which may or may not show motivation to sell. Chose a poor agent. Since then some work has been done on the driveway, the kitchen has been replaced (honestly it has), current agent refers to modern bathroom and other cosmetic works.
I'd suggest it sold cheaply four years ago and is now asking big money - hence large apparent value change. We said significantly more than £266,500 at the time (2013) and significantly less than the current price last year.
I guess we didn't "click" either time!
http://www.rightmove.co.uk/house-prices/detail.htm...
p1stonhead, it looks like it was pretty good value at £266,500 in July 2013. Do you recall the specific circumstances?
Curiosity got the better of me so I read my colleague's notes. It was a family sale so possibly probate which may or may not show motivation to sell. Chose a poor agent. Since then some work has been done on the driveway, the kitchen has been replaced (honestly it has), current agent refers to modern bathroom and other cosmetic works.
I'd suggest it sold cheaply four years ago and is now asking big money - hence large apparent value change. We said significantly more than £266,500 at the time (2013) and significantly less than the current price last year.
I guess we didn't "click" either time!
Edited by scenario8 on Friday 7th July 20:29
scenario8 said:
Nicer, extended neighbours are already worth £500k.
http://www.rightmove.co.uk/house-prices/detail.htm...
p1stonhead, it looks like it was pretty good value at £266,500 in July 2013. Do you recall the specific circumstances?
Yes I had it bagged for £262k but chain collapsed and we couldn't get back in quick enough selling our flat so missed out on it. They ended up selling for a few more grand in the end. http://www.rightmove.co.uk/house-prices/detail.htm...
p1stonhead, it looks like it was pretty good value at £266,500 in July 2013. Do you recall the specific circumstances?
It'll always be 'the one that got away' because it was so damn cheap (probate sale and kids just wanted shot).
p1stonhead said:
Yes I had it bagged for £262k but chain collapsed and we couldn't get back in quick enough selling our flat so missed out on it. They ended up selling for a few more grand in the end.
It'll always be 'the one that got away' because it was so damn cheap (probate sale and kids just wanted shot).
ThanksIt'll always be 'the one that got away' because it was so damn cheap (probate sale and kids just wanted shot).
See edit above.
scenario8 said:
p1stonhead said:
Yes I had it bagged for £262k but chain collapsed and we couldn't get back in quick enough selling our flat so missed out on it. They ended up selling for a few more grand in the end.
It'll always be 'the one that got away' because it was so damn cheap (probate sale and kids just wanted shot).
ThanksIt'll always be 'the one that got away' because it was so damn cheap (probate sale and kids just wanted shot).
See edit above.
Our chain collapsed after 5 months of legal due to the probate so when it did collapse it was pretty agonising having wasted that much time!
Anyway - back on the broader topic? We're hogging!
Edited by p1stonhead on Friday 7th July 20:34
Housing market on the brink of collapse, warns economist.
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
Pork said:
Housing market on the brink of collapse, warns economist.
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
Professior for stating the obvious said:
“Brexit will have a large part to play in the future of the housing market. If the negotiations go well, there won’t be much of a problem, but if it turns sour the markets could see sluggish or even negative growth, which could adversely affect the housing market.”
And they ask a mortgage person on his views for interest rate rises 
, they would have been better off polling Hedge Fund managers.Anyone got a view on what will happen with Smallholdings/equestrian properties in the Chilterns areas? The properties are expensive and do't move very quickly anyway, so I was wondering if anyone was keeping an eye on this market as we are looking to buy as we are bringing our horse home when we relocate.
Many properties have been on the market for months and months and I can't tell if it's because they are specialist properties or if they are just overpriced and people are waiting for a drop or if it's a stamp duty issue
Any thoughts welcome
Many properties have been on the market for months and months and I can't tell if it's because they are specialist properties or if they are just overpriced and people are waiting for a drop or if it's a stamp duty issue
Any thoughts welcome
Pork said:
Housing market on the brink of collapse, warns economist.
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
Are you going to post this every 14 hours until it does https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
Out in the local area the other day for a walk (not Manchester, near Bromley, its a nice place to go for walks), spotted a 'doer-upper', so.....I had a look at the sales page:
http://www.rightmove.co.uk/property-for-sale/prope...
was like:
we are all doomed i tell thee, doomed !
http://www.rightmove.co.uk/property-for-sale/prope...
was like:
we are all doomed i tell thee, doomed !
Carl_Manchester said:
Out in the local area the other day for a walk (its a nice place to go for walks), spotted a 'doer-upper', had a look.
http://www.rightmove.co.uk/property-for-sale/prope...
was like:
That will be a profitable McMansion. It's a plot, not a bungalow.http://www.rightmove.co.uk/property-for-sale/prope...
was like:
Pork said:
Housing market on the brink of collapse, warns economist.
https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
There has been hundreds of articles exactly the same over the past 7 or 8 years. https://www.ftadviser.com/mortgages/2017/07/03/hou...
"I doubt we’ll see falls of 40 per cent or so, 25 per cent is more likely, but with unpredictable elements such as Brexit it’s hard to predict where we will be in a couple of years’ time."
Pork said:
p1stonhead said:
There has been hundreds of articles exactly the same over the past 7 or 8 years.
7 or 8 years? I'd say since about 2003. Massive migration.
BREXIT might actually help prices become sustainable / reduce a touch.
Welshbeef said:
Pork said:
p1stonhead said:
There has been hundreds of articles exactly the same over the past 7 or 8 years.
7 or 8 years? I'd say since about 2003. Massive migration.
BREXIT might actually help prices become sustainable / reduce a touch.
p1stonhead said:
It may slow the rise but it won't make it drop. Those already here are staying after all.
In many areas in the U.K. There already has been a crash. On R4 yesterday 12-12:30 moneybox this was discussed in detail. Take N Ireland now seeing 4% rises however as clearly highlighted that's from a base which is 50%+ down from 2007. Then take a new build flat in Newcastle bought for £250k in 2007 sold this month (land registry price) £80k. That's the real "crash". It's a local thing.
Ripples from London market take 2to3 years to flow out to the whole of the U.K.
Welshbeef said:
p1stonhead said:
It may slow the rise but it won't make it drop. Those already here are staying after all.
In many areas in the U.K. There already has been a crash. On R4 yesterday 12-12:30 moneybox this was discussed in detail. Take N Ireland now seeing 4% rises however as clearly highlighted that's from a base which is 50%+ down from 2007. Then take a new build flat in Newcastle bought for £250k in 2007 sold this month (land registry price) £80k. That's the real "crash". It's a local thing.
Ripples from London market take 2to3 years to flow out to the whole of the U.K.
p1stonhead said:
Are there any figures that show any areas of London have fallen outside of prime money? Still strong money being had for 'normal' houses.
One point was raised re BTL and that the expectation was an exodus - well it simply hasn't happened. Instead what it's done is reduced the number of new entrants whereas those in the game are still buying & the view is very long term investment. The age old
1. Highly educated areas
2. Very good schools
3. Low crime areas
4. Proximity to infrastructure- travel/commute.
Are the main points nothing has changed.
My personal area is seeing transactions certainly materially up at the £500-900k territory whereas it had frankly stalled for 18months or so.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff