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About Bearlythere

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  1. I think the undersupply expanation is probably the right one, and the reason my HPC fuelled dreams of 40% falls in the big houses on Lyndewode/North side of St Barnabas aren't going to come to fruition. Cambridge is a wealthy place and there are still plenty of Londoners who want to move here for quality of life/schools, but there are relatively few streets of larger family houses near the city centre. The demographics are interesting as well,as Ognum says - we live in one of the roads in question (not saying which one!) and effectively most of the people here are either late 30's/40 somethings with younger kids or older people with grown up kids who have been in their houses for thirty odd years and will downsize sometime but are in no rush. People do seem to buy houses and just not move again, so the churn rate is really low, and there are loads of people living further out with kids at the Perse(s), St Mary's, Leys etc. who are desparate to move into the area. After spending too much time on here I spent a while trying to convince my wife we should sell up at peak and then buy one of the bigger houses when prices came down, but it's starting to look like none of them are going down much. I can't decide whether I feel smug or frustrated about that....
  2. Thanks Ognum, yes we'd seen both of those - kind of prove the point though don't they? £700k for a semi isn't exactly cheap is it! A nice fat 40% fall on the big Lynewode Rd type houses would have taken them from £900k to £540K, but I can't see it
  3. Haven't checked in here for a while but having just remembered my username I thought I may as well! Glad to hear people think there's some sign of prices softening, it keeps me hopeful. We've been keeping an eye on some of the nicer roads round the station (Lyndewode/Tennison/St Barnabas/Glisson) for a couple of years now in the hope something might come up in our range but there doesn't seem to be too much real softening at all - when stuff comes up, which isn't that often, it still seems to be going pretty fast for not far off asking price, and if you believe the agents even the odd bidding war, which is alarmingly 2005 for my taste. Certainly no 40% drops like I was hoping for. Are these areas going to get significantly cheaper at all or does 5 minute walk to the station plus family-sized houses plus walking distance to city centre mean they're a crash proof bubble zone ? We need more space so we might have to give up and look farther afield soon.
  4. To a degree that assumes that top-end Cambridge buyers are reliant on selling other Cambridge houses though - a lot of the people buying at say £600k plus are either people with plenty of non-property cash from (e.g.) business sales, or moving up from London with incomes much higher than local averages. If that's right then there probably is a degree of disclocation between most of the property in Cambridge and the "top end". I'd also guess that the supply/demand dynamic is a bit different at the top end as well, just because there are far fewer larger family houses in central Cambridge than people who want to buy them.
  5. Agree with this - there's a definite micro-market in the roads around the station that have the decent sized four/five/six bed houses (Glisson, St Barnabas, Lyndewode etc.), and lots of cash buyers, some of whom seem to have been renting for years waiting for the right house to come up. We bought in 2006 and had to pay something like 15 per cent. over the asking price to get our house - there were something like 45 viewings in two weeks it was on the market. We were also more or less told by the agent that we had no chance of ever getting a house in central Cambridge unless we sold our flat first so we were chain free cash buyers. Fortunately he was wrong. Those were the days
  6. Maybe it was one of the EAs who only covers the Bishops Avenue - one house every couple of years at 2% commission on £20m is still a decent living!
  7. Congrats on the pending new arrival Paddles - you're a brave man! I don't expect handouts from my parents either, but if they'd had the foresight to invest in a house for me 30 odd years ago I don't think I'd turn it down I agree with you absolutely - I'm not remotely suggesting that a situation where people are wondering whether they need to buy for their kids (or grandkids) just so they'll have a roof over their heads in 20 or 40 years' time is healthy or desirable - of course it's neither, it's total madness - and speaking personally I was fortunate enough to discover this place before I succumbed to the temptation to do just that. I guess how you see this woman's actions is partly a function of whether you think buying more houses than you personally need to live in is, of itself, greedy, whatever your personal motivations. At the macro level arguably it is, and I've no doubt that's the view a lot of people on here take, but I just don't see that someone who probably really is just worried about her kids' future deserves such a piling on from people she's never met. She may genuinely have no personal greed in her mind at all. Of course then again she may, but isn't it nicer to give people the benefit of the doubt?
  8. Jeeez - does it get tiring carrying that much cynicism around with you all day? Talk about projection!
  9. It makes perfect sense to me, as a parent who wants the best for my kids. And there is a difference between personal financial greed and wanting to provide for your children. Do you have kids? if you did you'd understand I think. If you do and you're still talking like this then you're probably beyond redemption What I still don't get is why you felt compelled to attack this woman. What part of wanting the best for your kids and not wanting to worry a husband who's away from home seems inauthentic to you? It all seems perfectly plausible to me. What in her posts suggest she was acting out of greed or to make a quick buck? Re you last point I'd like to think I'm a big enough person to feel personal compassion for anyone in financial difficulties, unless they've done something personally to me that makes me dislike them for a reason. Abstract hatred for BTL's and the "f*ck 'em, let 'em burn" attitude of some people here isn't that appealing to me tbh.
  10. Why are you and most of the other posters on this thread assuming she's not telling the truth? My wife and I have thought about doing the same thing at times, not because we were trying to find a cosy justification for greed but because like lots of people in recent years we've worried that our kids would never be able to afford a home if prices carried on going up at the rate they have been. If you're worried about the effects of HPI on your kids then buying a house for them is a perfect natural hedge. I don't see anything particularly wrong, in practice or in principle, with what she's tried to do, she's just miscalculated and is now up to her neck in the consequences and obviously very worried about it. As has been observed above, being misinformed and naive isn't such a sin is it? Why it requires you to pile in and send someone you've never met off to bed in tears is frankly beyond me, and it does you no credit in my view. Typical of the nasty streak of small minded viciousness that is too common on this forum at times.
  11. Greetings sir - I'll say hello if I see you again! Almost said something but I thought it might seem a bit odd
  12. You're right - good spot. The play area was the last bit of the development to go up so the pics must have been taken before that. Probably an innocent oversight to be fair. The other one up the road has just sold - presumably north of £900k Oh and BTW - if you are the Cambridge HPC poster with a black leather jacket and short hair who was sitting by the window in first class on the 6.45 from Kings Cross last night I was sitting next to you - identify yourself!
  13. Spot on. I walk past this house every day and it seems to have been on and off the market about three times - I think the people who built St Barnabas Court (the development) did manage to sell it for five hundred and something, but the developer who bought it is obviously struggling to move it on - valuation issues? It's classic peak of the boom property really - we've been inside it and if it was on a better plot it actually would be a nice house - the rooms are a decent size, good proportions etc., but there's a tiny back garden, barely room for a car out front, and it's all been done really cheaply inside, so anyone who bought it would probably rip out the kitchen and bathrooms and start again. I think the developer also sold off the parking space round the side for a quick buck, so you have this big house you can hardly park a decent sized family car outside. Bizarre.
  14. Well we actually went to look at this one a couple of weeks back, out of curiosity. Looks like the crash in the roads near the station hasn't hit yet The house is a classic academic's house - bought decades back when Cambridge used to be cheap and academics could afford £1m houses, and by the looks of it hardly touched since. Dirty, cold, damp, smelly, horribly outdated bathrooms etc., but they've had offers in already and are confidently holding out for the asking price. Given that it's going to cost about £100k (minimum) just to sort out the cosmetics, someone's going to pay a million quid for it at least. They are lovely houses, to be fair, and it will be beautiful if someone guts it and really tarts it up. We weren't tempted though....
  15. That's the nub of the problem I think - people are living longer but working lives in many industries seem to be getting shorter. People who a generation ago would probably have left school at 16 or certainly 18 now feel as if they have to go to university, and so are starting work later. At the other end we've become a much more youth orientated society with less respect for "wisdom" and accumulated experience (a mixed blessing I think!), so in many industries you're "finished at 40", and as you go up the pyramid in almost any organisation opportunities get numerically fewer with age. So what are you actually supposed to then do for the next 25 years if nobody will give you a job in your 40s because you're "too old"? It's not quite as simple as just getting off your ****.
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