kittingerjump

Kingston Upon Thames

1,801 posts in this topic

we are at a stage now which you must work your ass off and then get not very much in return for your efforts.

I put my name down for the diversity lottery to go to the US. Fingers crossed!

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I would have thought lots of sort of working class jobs (railway work, etc.) would pay more than £25k after 45 years.

lol , plenty electricians and plumbers earn more than a lot of city folk , gardeners round here charge 100 an hour :lol:

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lol , plenty electricians and plumbers earn more than a lot of city folk , gardeners round here charge 100 an hour :lol:

Really? I get my gardeners on gumtree, random immigrants generally speaking.

Actually I saw one gardening company, liveried vans, working in many of the larger houses in Woking. Thought, 'hmm, wonder how much they are charging, they seem to be a bit posher/more professional than average'.

Tapped on the window and the bloke said in very broken English 'Sorry izza not my business, I give you boss card ok.'

So just the same eastern Europeans on £10 per hour you could find yourself, but you probably get a fatcat English bloke with a nice house somewhere who comes out to give you an exorbitant quote before he sends in the Poles.

Sickening, all of it.

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Really? I get my gardeners on gumtree, random immigrants generally speaking.

Actually I saw one gardening company, liveried vans, working in many of the larger houses in Woking. Thought, 'hmm, wonder how much they are charging, they seem to be a bit posher/more professional than average'.

Tapped on the window and the bloke said in very broken English 'Sorry izza not my business, I give you boss card ok.'

So just the same eastern Europeans on £10 per hour you could find yourself, but you probably get a fatcat English bloke with a nice house somewhere who comes out to give you an exorbitant quote before he sends in the Poles.

Sickening, all of it.

yep there is a bloke round here has a team of lads charges £200 to trim a few trees , no end of work for him probably make couple of grand a day , no wonder he always has a smile on his face :lol: all cash too no tax which is perfect

Edited by longgone

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indeed so after all the pages and pages of moaning on this forum about high house prices and such , all it boils down to is luck really.

luck to earn a decent wage , luck to buy in an area that increases , luck if you were born in the right decade.

my parents bought their house in ealing in 76 for 30k sold it in 2006 for 850k , bought this one for 650k in 2008 worth 1.2 ish now

all luck really. :rolleyes: my downfall was not buying in 2008 crappy detached in claygate for 250 300k now is 700k at least , some thing not quite right about the last 5 years :lol:

we are at a stage now which you must work your ass off and then get not very much in return for your efforts.

It is just a completely different playing field now.

If your parents were first time buyers in 1976, to buy a £30k house in they would have to have been earning £10k which is about £60k in today's money. The people that bought it from them in 2008 would have needed to be earning £250k to buy it with the same multiple.

More likely that was not their FTB house, but the same massive difference applies.

The last 5 years are much worse because of low wage inflation.

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It is just a completely different playing field now.

If your parents were first time buyers in 1976, to buy a £30k house in they would have to have been earning £10k which is about £60k in today's money. The people that bought it from them in 2008 would have needed to be earning £250k to buy it with the same multiple.

More likely that was not their FTB house, but the same massive difference applies.

The last 5 years are much worse because of low wage inflation.

was the second house they bought , went from terrace to 4 bed detached. sold it in 2006 not 2008 rented for a bit.

i think they paid 5k for the terrace and sold it for 17k

i think what we are saying is we need equity now :D

Edited by longgone

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I would have thought lots of sort of working class jobs (railway work, etc.) would pay more than £25k after 45 years.

Railway workers especially! Seriously though, there is at least one household on that street where I don't think there has been any work for quite a long time. If someone got into a decent working class career in the 70s and was still doing it today, I'd definitely expect them to be earning more than £25k, but there will have been a lot who have been forced to chop and change, suffered periods of unemployment etc.

I wouldn't be surprised if there are people in that type of house who started off in a trade and now is finishing off their career in Tesco or equivalent. If you have got no mortgage, you don't need a massive salary coming in.

It won't be the same for the people paying the thick end of £1m to move in next door to them....

Even so, you can't really add up the sum of salaries over 45 years, if you are considering today's house price you need to consider today's salary.

You're right, but I still think it is amazing that people have ended up with an asset worth so much more than they ever could have afforded to buy.

Imagine telling a £5k factory worker in 1970 that the £20k house they were about to buy would go up 50 times in value to be worth £1m 40 years later but that their salary would only have gone up 7 or 8 times in the same period.

They must find it weird when the big earning City boys move in next door when those type of people would have been buying fantastic houses now worth £3m+.

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was the second house they bought , went from terrace to 4 bed detached. sold it in 2006 not 2008 rented for a bit.

Even better, they probably got that just right. There wasn't much of a downturn in 2007, but they probably sold near the peak and bought back in a bit cheaper in 2008.

That sounds like a relatively traditional property ladder, terraced first then move to a detached.

These days, most people are likely to end up in the first house they buy unless they move furthe out to get more space.

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My parents did relatively poorly. Middle class degree-educated professionals (from a time when that meant something), from respectively working class and middle class parents.

They bought a terrace in Leeds as a newly married couple, moved overseas in the late 70s and rented it out for about 15 years, I think same tenants all that time, were probably on £1/week or something stupid. Came back to the UK in 1992, sold the terrace for £30k (now worth £120k), bought a detached house for I think £165k in 1993, sold in 2001 for £225k (HPI had yet to really hit the north at that point). A couple of the neighbouring houses sold recently for over £600k, albeit heavily extended with second floor added (to a bungalow) and conservatory.

The rented in SW11 for a couple of years because they were getting cheap 'essential worker' rents, and then bought in 2003 south of Croydon for £370k, the area hasn't really suffered much HPI since then, it's not worth £500k now.

One set of parents is leaving nothing, due to care costs, and the other has left them a terrace in Zone 4 east London worth £300k or so.

They aren't hard-up exactly, but there are many who were less careful to save, less bright, less capable, who did less to save for retirement (my father pays something like 25% of his salary into his final salary pension scheme), who are sitting on literal fortunes in the form of a tiny strip of land.

Edited by bambam

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My parents did relatively poorly. Middle class degree-educated professionals (from a time when that meant something), from respectively working class and middle class parents.

They bought a terrace in Leeds as a newly married couple, moved overseas in the late 70s and rented it out for about 15 years, I think same tenants all that time, were probably on £1/week or something stupid. Came back to the UK in 1992, sold the terrace for £30k (now worth £120k), bought a detached house for I think £165k in 1993, sold in 2001 for £225k (HPI had yet to really hit the north at that point). A couple of the neighbouring houses sold recently for over £600k, albeit heavily extended with second floor added (to a bungalow) and conservatory.

The rented in SW11 for a couple of years because they were getting cheap 'essential worker' rents, and then bought in 2003 south of Croydon for £370k, the area hasn't really suffered much HPI since then, it's not worth £500k now.

One set of parents is leaving nothing, due to care costs, and the other has left them a terrace in Zone 4 east London worth £300k or so.

They aren't hard-up exactly, but there are many who were less careful to save, less bright, less capable, who did less to save for retirement (my father pays something like 25% of his salary into his final salary pension scheme), who are sitting on literal fortunes in the form of a tiny strip of land.

Indeed, it is all about right place at the right time. I am sure most people of that type of age would have bought as many houses as they could have done if they knew what was going to happen, but I don't think anyone would have predicted this crazy situation.

I think it is sad that financial well-being over that period has been more about what house you bought than what job you did and how hard you worked,

It is such a bad example to young people as well. I saw a programme a couple of years ago when primary school kids were asked what they wanted to do when they grow up - banker and property developer were two of the most popular answers!

Who can blame them? The way they see it is why slog it out in an office job you hate for 40 years when you can make far more from just buying another house now with a massive mortgage.

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My parents did relatively poorly. Middle class degree-educated professionals (from a time when that meant something), from respectively working class and middle class parents.

They bought a terrace in Leeds as a newly married couple, moved overseas in the late 70s and rented it out for about 15 years, I think same tenants all that time, were probably on £1/week or something stupid. Came back to the UK in 1992, sold the terrace for £30k (now worth £120k), bought a detached house for I think £165k in 1993, sold in 2001 for £225k (HPI had yet to really hit the north at that point). A couple of the neighbouring houses sold recently for over £600k, albeit heavily extended with second floor added (to a bungalow) and conservatory.

The rented in SW11 for a couple of years because they were getting cheap 'essential worker' rents, and then bought in 2003 south of Croydon for £370k, the area hasn't really suffered much HPI since then, it's not worth £500k now.

One set of parents is leaving nothing, due to care costs, and the other has left them a terrace in Zone 4 east London worth £300k or so.

They aren't hard-up exactly, but there are many who were less careful to save, less bright, less capable, who did less to save for retirement (my father pays something like 25% of his salary into his final salary pension scheme), who are sitting on literal fortunes in the form of a tiny strip of land.

told you it was all luck :lol:

i nearly followed in their footsteps :rolleyes:

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Even better, they probably got that just right. There wasn't much of a downturn in 2007, but they probably sold near the peak and bought back in a bit cheaper in 2008.

That sounds like a relatively traditional property ladder, terraced first then move to a detached.

These days, most people are likely to end up in the first house they buy unless they move furthe out to get more space.

It made sense at the time , they did think they made a mistake in 2007 when prices went crazy but the cash in the bank was making a nice 60k a year anyway.

if you tried to do that now , i don`t know what the outcome would be.

i did suggest a downsize was in order to maybe another 600k 700k detached with some space and do a nice extension on it and pocket the cash left and probably make a few hundred on the next one . if prices stay up may as well help them i can`t do bugger all at the moment with the prices so high for my price bracket i.e ordinary people.

there was stories of trying to buy a place in holland park in the late 60`s i think you could pick up a stucco front place for 50k back then

oh how i wish that deal was done :P

Edited by longgone

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Here are a couple of Help To Buy classics:

http://www.zoopla.co.uk/for-sale/details/31747838?search_identifier=6b4ba6b28c23555705e219de87c041b3

http://www.zoopla.co.uk/for-sale/details/31746983?search_identifier=6b4ba6b28c23555705e219de87c041b3

Both of these are slightly outside of the most sought after area and would have been about £450k last year. Now the prices start with a 6, but they are clearly looking for that magic £599,999.

The first one sold for £112k back in 1997, and is a good illustration of how silly things have got that it can be marketed at over five times that price when salaries etc have not moved that much during that time.

The second one sold for under £300k only two years ago. It appears to have a lot of work done since then, but it would be a mega-profit if they get £600k.

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I love h the second one is so f***ing tiny that they can't take a picture that doesn't have the street signs as its focal point. Seriously dreadful.

I mean ok for the right price I suppose, but it's still a cramped little cottage built for poor people.

Edited by bambam

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Here are a couple of Help To Buy classics:

http://www.zoopla.co.uk/for-sale/details/31747838?search_identifier=6b4ba6b28c23555705e219de87c041b3

http://www.zoopla.co.uk/for-sale/details/31746983?search_identifier=6b4ba6b28c23555705e219de87c041b3

Both of these are slightly outside of the most sought after area and would have been about £450k last year. Now the prices start with a 6, but they are clearly looking for that magic £599,999.

The first one sold for £112k back in 1997, and is a good illustration of how silly things have got that it can be marketed at over five times that price when salaries etc have not moved that much during that time.

The second one sold for under £300k only two years ago. It appears to have a lot of work done since then, but it would be a mega-profit if they get £600k.

both 400 , and that is being overly generous.

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I love h the second one is so f***ing tiny that they can't take a picture that doesn't have the street signs as its focal point. Seriously dreadful.

I mean ok for the right price I suppose, but it's still a cramped little cottage built for poor people.

Agreed. I think they have made the most of what is available (apart from the garden which seems weird), and it is in an ok-ish location, but these were never supposed to be this much money.

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http://www.zoopla.co.uk/for-sale/details/31496258?search_identifier=6b4ba6b28c23555705e219de87c041b3

this chump trying to get double :lol:

looks not too bad though for the 2007 purchase price

I have seen a few of these coming up lately. I think what they have done is to completely convert an old apartment or office block into new flats. It looks completely different inside and out. The old price may have been for a very different flat.

The problem is the location. It is in the no-mans land between Surbiton and Kingston and right next to the busy A240. I am not sure who pays this much for a flat like this in this location. If you really have that much money to spend on a flat, then Charter Quay is probably a better option.

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This one seemed reasonable compared to this crazy market until you look at bit closer:

http://www.zoopla.co.uk/for-sale/details/31772135?search_identifier=6b4ba6b28c23555705e219de87c041b3

£675k for a 3 bed detached house on one of the better roads in the area. OK, it is quite near a main road, but liveable.

Unfortunately, someone seems to have sold the garden off leaving only a tiny patio.

That is before you see the size of the place. 874 sqft for this asking price is uncomfortably close to £800 per sqft and you are not even paying for the opportunity to extend it in the future because the lack of garden puts paid to that.

No parking either, and good luck to anyone trying to park down that road during an evening.

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This one seemed reasonable compared to this crazy market until you look at bit closer:

http://www.zoopla.co.uk/for-sale/details/31772135?search_identifier=6b4ba6b28c23555705e219de87c041b3

£675k for a 3 bed detached house on one of the better roads in the area. OK, it is quite near a main road, but liveable.

Unfortunately, someone seems to have sold the garden off leaving only a tiny patio.

That is before you see the size of the place. 874 sqft for this asking price is uncomfortably close to £800 per sqft and you are not even paying for the opportunity to extend it in the future because the lack of garden puts paid to that.

No parking either, and good luck to anyone trying to park down that road during an evening.

some prat will buy it :lol:

are you looking to buy are you renting ? or just waiting ?

ugly but pretty good road

http://www.zoopla.co.uk/for-sale/details/31769306?search_identifier=6b4ba6b28c23555705e219de87c041b3

wonder what you could sell this off for in tip top condition

Edited by longgone

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some prat will buy it :lol:

Agreed, judging by what some of the others have gone for, this will sell quite quickly.

are you looking to buy are you renting ? or just waiting ?

At these prices, definitely just waiting!

ugly but pretty good road

http://www.zoopla.co.uk/for-sale/details/31769306?search_identifier=6b4ba6b28c23555705e219de87c041b3

wonder what you could sell this off for in tip top condition

I can't see any reason that wouldn't be north of £350k in this market once done up.

It is very ugly, I don't know what idiot on the council at the time sanctioned building a block like that there when all of the original houses around that small park are beautiful. I hate to think what lovely houses were pulled down to make way for some of the monstrosities that were built there in the 60s/70s.

It remains a nice road as you say, although traffic noise from neighbouring Claremont Road with all of the buses is a bit of a pain. The flat is share of freehold and split level which works in it's favour, but it doesn't say if there is parking available if you don't want to pay £700 a year to rent a garage.

I guess a lot of people don't care about parking. If you live there, you are only a few minutes walk from the station for your day to day commute, everything else is in walking distance and there are 'Zipcars' parked on that street so you can rent cars by the hour if you need one from time to time. I suppose that is the sensible way to do it these days in that type of location, but if you do still want to own a car, you'd need off street parking round there.

Edited by worried1

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Agreed, judging by what some of the others have gone for, this will sell quite quickly.

At these prices, definitely just waiting!

I can't see any reason that wouldn't be north of £350k in this market once done up.

It is very ugly, I don't know what idiot on the council at the time sanctioned building a block like that there when all of the original houses around that small park are beautiful. I hate to think what lovely houses were pulled down to make way for some of the monstrosities that were built there in the 60s/70s.

It remains a nice road as you say, although traffic noise from neighbouring Claremont Road with all of the buses is a bit of a pain. The flat is share of freehold and split level which works in it's favour, but it doesn't say if there is parking available if you don't want to pay £700 a year to rent a garage.

I guess a lot of people don't care about parking. If you live there, you are only a few minutes walk from the station for your day to day commute, everything else is in walking distance and there are 'Zipcars' parked on that street so you can rent cars by the hour if you need one from time to time. I suppose that is the sensible way to do it these days in that type of location, but if you do still want to own a car, you'd need off street parking round there.

obviously was smoking funny cigarettes when that was designed , it`s not overly big but as you say split level which helps and the location is good.

replacing warm air heating is a pain in the backside though , asbestos ducting and all sorts. probably 250k is about what i would want that for .

wet system and combi boiler would improve it a lot , did exactly the same thing in the parents house as that had warm air , massive cupboard in the kitchen gone , loft space removed of all ducting taken out, hot water cupboard removed so bigger bathroom , 25% bigger bedroom as the ducting comes up to the loft always through a room. just a big useless system that blows dust and co/2 around the house circulating the same air to kill all the inhabitants should the flue be leaking :rolleyes:

Edited by longgone

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http://www.zoopla.co.uk/for-sale/details/31766906?search_identifier=1ab5059604ef06f47d0640ebca9002c0

only 400-500k overpriced :lol::lol:

would make a fabulous building plot for flats

It is a nice house with a massive garden, but the postcode is going to count against it here. No one is going to pay that much money to live in Chessington right next to the A3. Move it a bit west to Claygate or north to Long Ditton, then maybe, but not there.

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