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House Price Crash Forum


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About MattW

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  1. In reply to the first paragraph: hard to say. Both factors are important but no doubt the cost issue outweighs the safety one for most leaseholders. In reply to second: personally yes because I've always lived in flats since leaving the nest and I'm getting on a bit and would like to get into a bit of gardening.
  2. New build flats are still going up in my are for £250k-£450k...maybe more. What with Grenfell 3 and a half years ago and now Covid and concerns about lack of outdoor space to exercise in lockdown, I'm surprised that such places are still getting built. As we know, such sums of money could buy a detached house.
  3. Thanks @PaulTW . I can't see things changing greatly in regards to interest rates and the way the FIAT money system works so I can't see that any crashes will ever happen. It even looks like negative interest rates on mortgages could be a thing.
  4. Sorry, I was meaning to reply sooner but I couldn't think of a clever reply and still can't! I must admit that I haven't noticed the properties reappearing at lower asking prices, just assumed they sold and sale fell through. In 2021 I may have to bite the bullet and buy somewhere. Sadly father passed away last summer, the sale of the family home will provide the bulk of the deposit.
  5. MattW

    Given up

    Nice post @bartelbe , completely agree. I sold to rent in August 2010 because 1) I was convinced that property prices were going to fall and 2) my employment situation wasn't great. Since then property prices have increased and I couldn't afford to buy another property. I played the game and lost the bet! I should be able to buy a modest house or flat next year. Sadly this is only possible because my father passed away last summer and his house is going to be sold.
  6. I accepted my council tenancy 3 years ago almost to the day. I was astounded when the Housing Officer informed me that I would qualify for Right To Buy in 3 years (down from 5 years). So I now qualify for RTB but I have no intention of doing it. Soundproofing is poor inbetween the floors and the communal doors close with a noisy clang. It would be tough to sell as well. It's a lot of work to set up home in a council property. I pay about £315 a month for my 1 bedroom flat. Much more preferrable than a room in an HMO. A similar property on the private market will rent out for around £550 a
  7. Good point. They probably would find out if the other residents were to put in complaints about it.
  8. Bump! By coincidence earlier this morning I switched on my TV and lo and behold, an episode of HUTH was on. Although I missed the start, I did smirk on the revisit to a tower block flat in Glasgow. I think the developer (and his partners) paid £92k for it. Spend a whopping £27k doing it up. It looked nice, I'll give him that. I didn't like the wall between the kitchen and living room was removed and the living room door to the hall was missing. Installed expensive furniture from China and probably cost another bomb to import. Estate Agents came back: "Wow, looks great!" Valuatio
  9. Wow! What is the average cost of a standard hotel room in the area? I wonder if a deal could be done with the managers for, say, a 3 or 6 month term if paid upfront.
  10. I got the same email. I had to move to TSB in 2017 when Norwich & Peterborough Building Society were closing the current accounts. It was a good move at the time as TSB interest rates were strong compared to the competition.
  11. In response to the thread title, siblings and I are trying to sell our late parents' house and I do wonder why. We currently have a very strong offer of £190k but that's dependant on the prospective buyers selling their house so it's far from being out of the woods. There isn't a horrendous rush to get a sale as probate is still going on and there's still a lot of stuff that needs to be cleared out. Nevertheless the 6 months' free council tax will come to an end in December.
  12. Sticking with the Golden Triangle in Norwich, OIEO £200k for this corner house. Cambridge St, Norwich Probably should be on for £120k due to it's awkward shape. You do get an off road parking space and a garage so that's one bonus.
  13. The housing estate I currently live on is like that (built 1968-69). There are quite a few 'en bloc' garages to get the cars off the road but very few rent them. Around £35 a month for council tenants or the same sum plus VAT for private residents. Very few are rented out.I did rent one of the garages when I first moved in for a year but the opening was still tight for my 10+ year old car, ended up damaging my mirrors so handed the keys back.
  14. I was considering moving my savings from Virgin Money (0.5‰) to NS&I within the next few months. 😣This announcement has saved me the bother.
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