Doesn't Commute Anymore

Its another tax on the under 35s who, unlike their boomer colleagues, do not have spare rooms and garages to put stuff in.

I like your posts Bruce, but I disagree here. Most UK letting agents haven't the intelligence to negotiate fine print especially when the landlord is not there - so it is take it or leave it at signing time. They willl also tag on so many extra things - professional cleaning etc. knowing you are in a weakened position, Its simply easier and less hastle to let it go and put the pet in the car for an hour before any flat inspection. You usually get inspected by the junior lacky with clipboard in the office whom I always make a point of bossing and telling that I need to get back to work ASAP. "I'm a doctor/fireman/paramedic etc. dont you know and will complain to my colleagues about your agency" Honesty is not the best policy in an industry that is itself dishonest. I think having a pet is none of the agents/landlords business provided I pay the deposit and get it back minus any damages done. Surprised the RSPCA or another animal charity have not chellenged this as it must adversely affect rehoming of unwanted animals

I'm angry at the impossibility of being born too late into the housing boom as well. But I cannot see what I can do about it, and it is bound to be worse for the next generation with a second mortgage of student fee debts. Keep saving, keep improving. At some point the tide must turn.

Good thread. Thanks to those who keep the members here so reliably updated. There is an anomoly in the data I'm keen to mention. Liverpool is quoted as the best performing regional town/city in the UK (+10% YoY), yet the 2011 annual HPI was -9.2% YoY according to the Land Registry. I've been watching the middle and lower ends of the market quite closely this year, and nothing is selling without a hefty discount and a reduced price to last year. I post a sample of average Liverpool houses (at around the average £154k value) on the lIverpool regional prices thread, and there is no house price inflation here! All I can suggest is that transaction numbers are thin and the average is poorly mix-adjusted - it can only be upper end houses that are selling.

Houses in Liverpool's nicer suburbs (don't laugh, yes, there are some!) are all stuck at 2007 asking prices - which is now 25% over sales price (at least!). Lots of periodic 5k or 10k drops, but little or nothing selling until the drop reaches 25%. Flats in Liverpool in freefall, and no takers.

Update - I've left this thread alone for a while as its been unclear whether I'm moving from Liverpool, or not. Asking price >> selling price is no more obvious than in liverpool suburbs Case 1 - chasing the market down http://www.rightmove.co.uk/property-for-sale/property-16658088.html 3 bedroom town house for sale £149,950 Elm Hall Drive, Liverpool 22 May 2012 Price changed: from '£159,950' to '£149,950' 23 March 2012 Price changed: from '£165,000' to '£159,950' 26 February 2012 Status changed: from 'Premium Listing' to 'Available' 24 January 2012 Status changed: Premium Listing, Sold STC Listing 13 January 2012 Status changed: Premium Listing Listing, Sold STC 08 June 2011 Status changed: Premium Listing, Sold STC Listing 14 May 2011 Status changed: Premium Listing Listing, Sold STC 24 April 2011 Price changed: from '£175,000' to '£165,000' 18 April 2011 Status changed: from 'Available' to 'Premium Listing' 28 March 2011 Status changed: from 'Premium Listing' to 'Available' 27 February 2011 Status changed: from 'Available' to 'Premium Listing' 26 January 2011 Price changed: from '£185,000' to '£175,000' 25 October 2010 Price changed: from '£190,000' to '£185,000' 28 July 2010 Initial entry found. Case 2 : Thou shalt not drop the price much (ps to vendor - get a photo without snow on the drive, please!) http://www.rightmove.co.uk/property-for-sale/property-28642069.html 24 May 2012 Brief Description changed: * PRICE REDUCED FOR OUR SUMMER SALE ....... 21 May 2012 Price changed: from '£167,500' to '£162,500' 13 June 2011 'POA' to '£167,500' 22 April 2011 Price changed: from '£169,950' to 'POA' 06 December 2010 Initial entry found.

Uninspiring article, reeling out the usual and unaffordable suspects. Graham Norwood picks his top 20 places that are within an hour’s commute of London http://www.telegraph.co.uk/property/countiesofbritain/8523946/Top-20-places-to-escape-London.html Worthy if only to discuss - which of these places is likely to fall most if prices start to fall in the capital post-olympics?

Hi GJ. Do you think these are fair value ? - I think they are priced rather high at £165k for a 2 bed terrace, and the 50 quid off one shown via property bee isnt the type of price action I was hoping for. These look typical Liverpool Suburb overpriced entries - the reason the suburbs are not selling either.

New north Liverpool development with planning permission (no idea about finance, though) Liverpool Waters, around the Stanley Tobacco warehouse http://www.liverpoolwaters.co.uk/content/home.php On the plus side, it would clean up this rather scruffy part of town, but on the downside, Im not sure where the demand will come from for more flats, retail or office space.

Hi bills, welcome. This sounds about right from my experience - city centre flats are simply unpurchaseable at the moment. There is either an unrealistic purchase price placed on them, or an unrealistic service charge. Anyone who bought these during the 'year of culture' hype is now in serious trouble financially, hence the service charge catches to them all. Ive jogged past Beetham Plaza a few times recently, and there are lots of lights out in the evening - I guess these are not shifting with the service charge, or even being occupied. Besides, centre flat prices do not match well with prices for proper houses in more desirable suburbs - why buy a pokey central flat when you can get a 3 bed semi in a good neighbourhood for the same (free from service charges etc.) ? The ropewalks area is noisy and disruptive with nightclubs and student nights midweek, and not for everyone. I find the north side around Leeds St etc. very baren and isolated for local facilities. The financial district is OK but very quiet at weekends, and like a ghost town with closed pubs etc. I'd give up on the centre and look a bit further out - depends on your tastes but many colleagues like Sefton Park/Aigburth area. There's also lots of flats on London Road, which is handy for Lime Street, of variable quality and character, where the service charges are less. Just avoid any too close to lime street, where there are crime problems.

I also agree with thecrashingisles and others. House prices to earnings are more intuitive, more relevant to mortgage finance discussions and perhaps a better indicator of where a likely bottom will eventually be in UK house prices Its also an easier concept for a new visitor to the site to understand.

Nah, don't worry. People just busy with Easter plans - besides the 29th is very early , I was not expecting this today. Sentiment does seem to be really poor for house prices. Personally, I'm long postage stamps and short housing . The cost of UK houses, priced in royal mail first class deliveries, is set to reach a new low!!!!

5 stars to M21er for all the good work here. Bravo !

I had one in my old rental (not a newbuild, a refurbished old building) and quite liked it. The window was south facing, however. Better than a window that only opens a bit, but not as good as a balcony. I consider very few UK balconies as actually a balcony. A balcony needs to be big enough for 2+ people to dine out on.

I guess the problem with charities is that they often need to get people together at their HQ from all over the country. Having to do this myself for part of my job, I find that people always want to meet in London as its the best connected for travel, especially of you want Aberdeen/N Ireland/cornwall represented as they can fly in to the capital. There's also political lobbying, which needs to be done in and around Westminster.

Buyer wanted for pokey 1 bed flat in Childwall. Reduced to £124995. http://www.rightmove.co.uk/property-for-sale/property-36350144.html This is the price 3 bed semis are going for in the area now. Try about 100k max!!!!!

I want more "liverpool is a crime-ridden hell" stories please, Daily Mail. I want things back to -10% YoY !!!! http://www.dailymail.co.uk/news/article-2107552/Manchester-Liverpool-Birmingham-areas-drugs-gangs--just-like-Mexico-Brazil.html

This is not true - I do this all the time going from Liverpool to London. I even tell the conductor I am staying on after the break station and have never had an issue. The problem with making a timed break is if the line has a delay - then you can miss your 2nd train and have to pay a new (full) fare. Also, buy direct from the train companies to avoid fees on trainline.co.uk etc.

Land Registry relaese for Jan 2012: 2.2% MoM, -4.0% YoY, average £95898 Makes no sense to what I am seeing in Central and South Liverpool Must be very low volumes as MA shows in his graphs.

I'm guessing the next leg down starts after August 12th - post olympics hype disappearence meaning London leads the next leg down rather than holds up the rest of the country

The ultimate HPC wet dream.....

ha ha, great post. I can't wait for the day that Fergus Wilson resorts to this........

Yes, in many foreign countries, it is qualifications that are valued (especially UK university qualifications!) rather than experience. I've noticed this too.

Agreed. Prague has things going for it, avoiding the stag-nighty parts. Panama is rather nice as well - good for hiking, snorkelling and tranquility - in areas not too far from the capital city. I think everywhere that is hyped up as good is going to be expensive already. The key is to find a place to emigrate to that has potential to grow for the next 20 years, and that offers a lifestyle that may make up for the culture change.

Interesting list. There should be at least one caribbean country in there. Bahamas, Trinidad and Tobago (oil/gas-rich) and Barbados are all worth a look if you can handle the culture change. These countries will be needing a lot of know-how, skills and qualifications in the years ahead that young Brits can offer (education, public service, healthcare, oil industry).