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House Price Crash Forum


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About meltsheep

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    HPC Poster
  1. I finally did it! I bought a house in harringay. Its bit run down, and I got it for about 15% under the initial asking price. When I tell people they congratulate me as if I just got married or had a promotion. What's to congratulate in taking on a large mortgage, months of expensive building work, a lot of dust and the threat of having all my stuff stolen by roaming Romanians in search of a place to set up home? Speaking of which, since it may be empty for a bit,. what can I do to protect against squatters?
  2. Every development around N1 / EC / E1 I have enquired about has almost sold out. So new build for that money, forget it. Maybe heading towards the Hackney end of N1 you'll find somewhere suitable.
  3. I have two options I think. 1) Buy a flat in E8 / Haggerston / London Fields / Dalston 2) Get a house around honor oak park, forest hill area. Everything is still on the up from what I can see though, certainly not dropping much.
  4. Are there any parts of London where prices are really falling:? A colleague is looking in despair at Archway, houses up from around 800k to 950k in the last 12 months he sighs! I was looking around E8 but there's very little of interest that's under 450k! N4 is insane, N7 has still very expensive. N8 is just impossible. What's the on Forest Hill environs ? I need to find an area with BAD schools 'cause I aint got no kids. Any suggestions ?
  5. I hope all the scammers have gone from gumtree. When I was looking about 18 months ago, I reckon 1/4 of the private ads were scams.
  6. Rents in Edinburgh are less than 1/2 what you would pay for an equivalent place in London Zones 1/2/3. Considering you can get a decent 2 bed flat in a good area for less than 800pcm, Edinburgh does seem very cheap. Rental yields here are completely rubbish, less than 3%. I've no idea why people would do BTL in this climate. Having said a 50K job in edinburgh would be 80k+ job in London - I'm talking about IT sector (don't know anything else!).
  7. http://www.communities.gov.uk/nhpau/ The National Housing and Planning Advice Unit (NHPAU) has been established in response to Kate Barker's Review of Housing Supply (2004). Our task is to help make market housing more affordable and to address the trend in the rise in the number of people prevented from getting onto the property ladder. We do this through providing independent advice to both government and regions about the impact of planned housing provision on affordability, as well as researching specific practical and policy issues. WTF!! how much are these people being paid ?? Why don'
  8. I used to live there too, Eagle Wharf Road in Eagle house - nice spaces, terrible sound insulation, shitty kitchens. A lot of place have gone up around there. The area is fine but some of the council estates north and south are very grim indeed. Packington St is not pleasant after dark.
  9. This place: http://www.calagroup.co.uk/partexchange/pd...83_schedule.pdf Sold for 250,000 according to our property and was on the market @ oo 350k as far as I remember. God knows how much they paid for it back in 2003 (I think when the development was built) With all this talk of rises, thought this might cheer you up. I guess being next to the Caltongate 'hole' would not be a good selling point. These houses are tiny anyway, probably less floor space than a decent 2 bed tenament.
  10. I had a mortgage as a student. I wasn't very good at looking after money. It was a real millstone. Personally I would hang on , stick your 1/2 deposit into BP or GSK shares and 1/2 into corporate bond funds. You'll get 5% yield with little chance of losing a serious amount of capital. The Halifax reported another 2% drop this month. Unemployment is still rising, banks are making bigger margins, interest rates will rise and lending is still bottlenecked. If Halifax don't see things picking up this year, I would take their advice. Its really hard to see this imaginary flood of buyers piling in
  11. I was some for 130k in the Evening News. Granton is Granton is trainspotting land. Who an earth would want to live there at the moment. Buying for 130k might be a reasonable idea if you could find people to rent to. Possibly around 7% return on these places assuming you might get 750pcm (optimistically). Hmm. That's looking a little better. However getting finance for new builds aint happening at the moment.
  12. Sure. Had I not sold my flat in South Clerk st in 1995 for 70k (last year would have fetched up to 250k) I would be in the same boat. I had a tiny mortgage and would have paid it off no time. That would have been a no brainer but it wasn't to be because I decided to cash in and get a life in the capital. But I saw the housing boom for what its proven to be in 2002, and in 2001/2002 i was thinking about buying but saw a bubble then, and decided against buying in London.I reasoned that prices would drop below 2002 prices sometime in the future once the bubble burst. I didn't really want to buy
  13. Living room (13’3”) x 4.14m (13’6”) !! And it looks like a council house ... is it ?
  14. HEre: http://edinburghnews.scotsman.com/topstori...4618.jp#3732492
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