How far will house prices fall [volume 5]
Discussion
anonymous said:
[redacted]
Looks like they have taken design inspiration from my parent's home.Sad part in my parents case is that they are gradually modernising it at significant cost failing to realise its 70's exterior and room design won't lend itself to a make over and the land on which its on means it will get razed to make way for a footballer pad.
Lord.Vader said:
Up here (N.Wales on the border) they are selling rather well, anything between 125k-200k is flying, many people now asking daft prices (250k+) for average 3/4 bed homes at circa 1250-1500 sq ft.
Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!
I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Similar situation in NI.Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Sometimes it's good to check what the bricks and mortar actually cost in terms of the physical value (excluding the location variable)
Take this house. I'm currently 20 mins from Belfast (40 mins peak) and this is a further 30 mins out into the countryside. Half acre plot. £275. Plot is worth circa 50k and with 25k pc sum, works out about 200k for the actual house. Builders finish, so will need painted internally, kitchen, bathrooms and floors will need done and externally, you would want to replace the basic stone driveway with something better.
But overall, quite a nice layout and size of house at just under 3000sq ft and costing only about £200k to build, then £50k value on the plot.
It did grab my attention this house, but adding an extra 60 mins travel per day for me and the missus makes it a bit of a pain. Great value for money though. Just shows what the actual physical value is worth when it comes to building a large home.
http://propertypal.com/499536
Edited by soupdragon1 on Tuesday 26th February 12:02
soupdragon1 said:
Lord.Vader said:
Up here (N.Wales on the border) they are selling rather well, anything between 125k-200k is flying, many people now asking daft prices (250k+) for average 3/4 bed homes at circa 1250-1500 sq ft.
Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!
I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Similar situation in NI.Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Sometimes it's good to check what the bricks and mortar actually cost in terms of the physical value (excluding the location variable)
Take this house. I'm currently 20 mins from Belfast (40 mins peak) and this is a further 30 mins out into the countryside. Half acre plot. £275. Plot is worth circa 50k and with 25k pc sum, works out about 200k for the actual house. Builders finish, so will need painted internally, kitchen, bathrooms and floors will need done and externally, you would want to replace the basic stone driveway with something better.
But overall, quite a nice layout and size of house at just under 3000sq ft and costing only about £200k to build, then £50k value on the plot.
It did grab my attention this house, but adding an extra 60 mins travel per day for me and the missus makes it a bit of a pain. Great value for money though. Just shows what the actual physical value is worth when it comes to building a large home.
http://propertypal.com/499536
Edited by soupdragon1 on Tuesday 26th February 12:02
4 bed, 3 bath on 1acre plot with amazing views ( and importantly for PH ) a big detached double garage at the end of a drive that would take 30 cars !
2500sq/ft plus garage
Interior finished to a very high standard but garden drive and garage need finishing ..
Paid £180k for it
We looked at building,, but found this, which is probably cheaper than cost of site and building it today
wisbech said:
Will be interesting when/ if my mother sells her place. 4/5 beds in the Cotswolds, river at bottom of garden, great school district. But a 1970’s build (in traditional style) so doesn’t have the kudos of a ‘real’ old place (but has advantages of not being listed, decent insulation etc). Cost them 235k in 1989 - bought from a small ad in Country Life from original owners direct. Any new buyer would put in new kitchen and bathrooms. My parents, bless em, changed the cabinet doors about 15 years ago, other wise it is a early 70s kitchen...
My guess will go to someone down from Midlands - it is too big for a holiday home/ too far to commute to London. Or one of my siblings will move to take it on (unlikely due jobs, but you never know)
Obviously I don't know whereabouts in the Cotswolds your mother lives but I do know people who commute to London daily from Kemble...My guess will go to someone down from Midlands - it is too big for a holiday home/ too far to commute to London. Or one of my siblings will move to take it on (unlikely due jobs, but you never know)
Edited by wisbech on Tuesday 26th February 03:14
Edited by wisbech on Tuesday 26th February 03:18
soupdragon1 said:
Lord.Vader said:
Up here (N.Wales on the border) they are selling rather well, anything between 125k-200k is flying, many people now asking daft prices (250k+) for average 3/4 bed homes at circa 1250-1500 sq ft.
Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!
I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Similar situation in NI.Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
However, I earn a third of what I do in Edinburgh than I will in London.
It's all relative.
soupdragon1 said:
Lord.Vader said:
Up here (N.Wales on the border) they are selling rather well, anything between 125k-200k is flying, many people now asking daft prices (250k+) for average 3/4 bed homes at circa 1250-1500 sq ft.
Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!
I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Similar situation in NI.Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Sometimes it's good to check what the bricks and mortar actually cost in terms of the physical value (excluding the location variable)
Take this house. I'm currently 20 mins from Belfast (40 mins peak) and this is a further 30 mins out into the countryside. Half acre plot. £275. Plot is worth circa 50k and with 25k pc sum, works out about 200k for the actual house. Builders finish, so will need painted internally, kitchen, bathrooms and floors will need done and externally, you would want to replace the basic stone driveway with something better.
But overall, quite a nice layout and size of house at just under 3000sq ft and costing only about £200k to build, then £50k value on the plot.
It did grab my attention this house, but adding an extra 60 mins travel per day for me and the missus makes it a bit of a pain. Great value for money though. Just shows what the actual physical value is worth when it comes to building a large home.
http://propertypal.com/499536
Edited by soupdragon1 on Tuesday 26th February 12:02
;) SunsetZed said:
soupdragon1 said:
Lord.Vader said:
Up here (N.Wales on the border) they are selling rather well, anything between 125k-200k is flying, many people now asking daft prices (250k+) for average 3/4 bed homes at circa 1250-1500 sq ft.
Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!
I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Similar situation in NI.Still a few bargains to be had if you are willing to put some work in, anything with a decent garden (or plot size) seems to have a premium above what it is worth, as if the extension / development is already priced in.
I picked up a bargain at 2000+ sq ft, 4/5 bed, 2/3 reception rooms, garage and probably half an acre backing onto a national park for a smidge over £300k, 15 mins to work
tired, but an original 1930's (mostly) so lovely high ceiling, etc; I reckon around the M25 you would be looking at 950k+!I could (and would) retire on £950k up here and I'm only 30.
Interesting to hear all of your perspective down in / around London and the SE, adds a perspective of how lucky we are up here!
Sometimes it's good to check what the bricks and mortar actually cost in terms of the physical value (excluding the location variable)
Take this house. I'm currently 20 mins from Belfast (40 mins peak) and this is a further 30 mins out into the countryside. Half acre plot. £275. Plot is worth circa 50k and with 25k pc sum, works out about 200k for the actual house. Builders finish, so will need painted internally, kitchen, bathrooms and floors will need done and externally, you would want to replace the basic stone driveway with something better.
But overall, quite a nice layout and size of house at just under 3000sq ft and costing only about £200k to build, then £50k value on the plot.
It did grab my attention this house, but adding an extra 60 mins travel per day for me and the missus makes it a bit of a pain. Great value for money though. Just shows what the actual physical value is worth when it comes to building a large home.
http://propertypal.com/499536
Edited by soupdragon1 on Tuesday 26th February 12:02
All that space out front and no side doors or front doors to enjoy it.
https://www.bbc.co.uk/news/business-47368308
Found this interesting.
Only part of the Market making any cash by the looks of it but then it helps when you have the government in your pocket to the point you can build poor quality houses and get away with it and the tax payer footing a good part of the bill !
Found this interesting.
Only part of the Market making any cash by the looks of it but then it helps when you have the government in your pocket to the point you can build poor quality houses and get away with it and the tax payer footing a good part of the bill !
Edited by FocusRS3 on Tuesday 26th February 13:12
Integroo said:
I could buy a house in Edinburgh for 300k that would cost 600k or more within the M25.
However, I earn a third of what I do in Edinburgh than I will in London.
It's all relative.
Absolutely, that's the point I was making. Relatively speaking, a large house doesn't cost a massive amount, the location is the driving factor. However, I earn a third of what I do in Edinburgh than I will in London.
It's all relative.
And the wages are also relative. Kind of obvious, I know.
By the same token, if you're not tied to a certain area, its worth looking at alternatives. An ordinary couple, say with one working in the post office full time and one working as a postman full time, could afford a 4 bedroom detached without too much trouble. But if you do an entry level job like that in a big city, you've no chance of owning a typical 'family home' unless you take on a large commute.
I just don't quite get why ordinary people just don't bite the bullet and get out of the big cities and look at alternatives (caveat being, some people just love the city life too)
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