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lozwills

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  1. One of the headlines at the top of the programme "And with house price's soaring 40%, is there anywhere left affordable to buy"? What an earth are the BBC playing at? Watching programme now, item will broadcast later in show.
  2. Can't believe I'm saying this, but with the Little'un starting school next year (we have to register her by Oct '06) and having to move to a new area (where the supply of quality rentals is about 0 houses), I've taken the decision to put in an offer in on a house tomorrow (I've got a good hunch that it will secure the property) and it's certainly not what I would call a bargain -the most anyone would have ever paid for a house in the road I'm ashamed to say. I've spent nearly two years in STR now. During this time, I've spent £40k on rent. A house that I could have bought for £440k 2 years ago in my chosen part of this area would now fetch about 480K. So do the maths - STR has been an expensive experiment and very unsettling. Fact is, what really gets to me is that I know the market's going to slump at some point (WHEN?) but 'real' sellers of quality houses in my chosen area are so few and far between (basically because I reckon that no one in the area can actually afford to upgrade so can't actually market their houses in the first place -only people selling family homes now are the 'new year divorce' crowd). I'm very aware that I'm buying at historically high prices for this area - I don't believe there will be a suffient correction in the next 6 months to make waiting worthwhile (another £10k on rent as well). Area is near Esher, Surrey and I will be borrowing less than 3x salary to purchase the property. So, given my above situation, have any of you got an better ideas? If it was just me, trust me, I'd be sitting tight, but I've got a wife and kid that now need a family home.
  3. I'm not going to moan too much as I'm one of the lucky ones who's not trying to get on the first rung of the ladder (STR'd July 2004 and happily renting) but still snffing round the odd house to see if we can pick up a property for a good price - kids are nearing school age and want them to be settled wherever we're living. Spoke to a Foxton's estate agent yesterday who had obviously just been to his local weekly brainwashing meeting up in the West End. On seeing a house that was priced £75k more than any other house had sold for in the road (thank you nethouseprices.com) I said that "prices next year were going to fall, at best stay level next year - I don't see why I should be paying the highest price in the road in a falling market" to which he said: "After SIPPS get introduced, it's going to go completely nuts - to be honest, if anyone's looking to enter the market at any level after 2008, they're going to need £1 million to do so - this house has been priced to reflect that". Just fantastic - and he was actually straight faced - he actually really did believe it. The house was on the market for £525K (next door identical house sold for £450K August 2005). My horrible worry is that this sort of nonsense seems to be working on supposedly sensible people with £500k - I know another well known agent pulled one over of my new neighbour next door who paid £580k (it also needs renovation) where any previous identical one had not achieved more than £515k. These are the sort of stats that the building societies are cherry picking for their house price index scams to keep the ship afloat. Losing the will to live now, why can't people open their eyes?
  4. I've been looking for a house in Wandsworth for the best part of two years and I've lost track of the number of properties that mysteriously disappear after sticking on the market for a few months. Greedy sellers think nothing of wasting estate agent's time and throw in the towel rather than reduce their price But it's not just the individual sellers greed we have to worry about - it's the NEIGHBOURS of the vendors who seem to be controlling prices as well, even if their own home isn't up for sale. Yes, I've encountered a new VI culture - the other residents in the street - vendors are scared of slashing their prices, fearing what their neighbours would think of them for 'under-selling'. Example I found that the residents of this gated development in Wandworth are allegedly fed up that their properties are not keeping up with the prices of other roads in the area (this development consists of 20 or so rather unfashionable townhouses, built around 1990, certainly not my cup of tea) - an ex-estate agent friend of mine who knows a resident tells me that the residents allegedly had a meeting late last year and they agreed not to 'undersell' their houses. There are three houses on the market in the development at the present time (ranging from £585,000 to £645,000 (the more expensive one has an oversized conservatory that takes up most the v small garden) All three have been on the market for the best part of this year or more- here's the one for £645,000 with the v big glasshouse at the back - best price ever achieved in the development was last year - £519,000 (this was also £30,0000 more than the previous best the year before) so way above the odds. Here's the house for £645000: www.savills.co.uk/residentialSearch/ab9d55aa-e666-4eda-8578-e0d83faa49e0-0-1-1-viewDetailsSubmit/residentialSearch/propertyDetail.aspx?pID=88214 This house is on the market for > 20% more the best price ever achieved, in a market that's fallen locally by at least 5% in the last year and guess what.......it's been on for the best part of a year. Bet they are dying to reduce their price to get out of there, but worry about what the others will think.... Anyone else heard of examples like this...the local neighbourhood VI's??
  5. Could as many people as possible please post your complaints about the house price item on News at Ten to e-mail:[email protected] - hopefully if they can get a sizable number of complaints they'll think twice before doing this aort of item again? (itv have an obligation to reply to you and will contact the editor of the show for his explaniation for each complaint recieved). A very biased and irresponsible pieces of journalism and very flawed. Didn't see any viewpoints from potential buyers about what they would do if the best fixed rate deal went down by .2 % - I think we all know what the answer would be - not a lot.
  6. you could tell Sir Trev was really uncomfortable with presenting that item - like he had a gun to his head or something.
  7. Phil Spencer (Kirsty's sidekick on 'Location Location') is selling his house in SW London - on for about £80k more than houses were selling for in the peak in his street according to nethouseprices (what a surprise). Could he finally be smelling the crash, bailing out and STRing? I'll keep you all posted on how the sale progresses. Slowly at that price I suspect.
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