Kyoto
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Posts posted by Kyoto
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Just makes the desirability of central London property grow, people will pay a premium for being able to walk to work. A couple commuting to London paying say 3k each are just throwing money down the drain......
More than that mate. I know of couples paying £3k each per year. That gives them an extra £600 per month to throw into their rent before you take into account any quality of life enhancements by not commuting.
I would rather pay an extra £1200 to a landlord than £600 to a train company on principle. And this is coming from an HPC reader.
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Just looking at a train trip from London to Manchester in February or March.
Specific outbound trip, open return = £70.
Booking return leg doesn't reduce the cost if travelling home between 9 and 5.
In what parallel universe is that a reasonable price to pay for a 4 hour round trip? It's absurd!
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That guy is a f*cking idiot. Can't believe I voted for him. Vote Boris. Get Banksta, but then again voting Ken will most likely achieve the same result.
He is doing what he was elected for - representing the interests of London, with it's massive financial services sector.
The banks we bailed out shouldn't be paying a penny in bonuses, but the rest can do and pay what they like as far as I'm concerned. More taxes collected, more jobs, more spending in the UK economy..... Bonuses all round!
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Instead of bailing out the banks thr UK govt should have spendt the cash buying back the transport and energy networks.
Lower the costs , stimulate the econokmy that way instead of having all the profits going overseas.
That has to be better than socialising losses with taxpayer dollars whilst encouraging ever increasing profits at the expense of those very same taxpayers?? I guess i'm a socialist then?
I'm not sure if I'm a socialist. Maybe someone can tell me what I am.
I think that there's enough things for capitalists and traders to profit from and speculate on. They should be free to do so and to build business for profit from privately.
At the same time, the governments mandate should be to keep the basics in life as cheap and as widely available as possible. This includes transport, healthcare, energy, and housing costs. They can do this via ownership or legislation or whatever tools are available to them.
These two aren't necessarily at odds. This setup would mean that much more disposable money would be free to find a home in the free market economy.
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Travel and transport costs are being hammered in every direction:
Rail season tickets burst through the £5,000 a year barrier
Air passengers face higher tax to fly from London
Motorists face a new year of higher petrol prices on the forecourt
http://www.guardian.co.uk/business/2010/dec/28/drivers-face-new-year-of-petrol-price-rises
Each of these rises really hurt with regards to our competitiveness and disposable income flowing around the system.....
Just this morning I decided to skip a trip up north after balking at the £55 train fare. Had the price started with a 4, I might have gone. This decision keeps a few hundred pounds in my pocket that I would have spent on a weekend of debauchery.
I also think these big rises could be significant for the housing market. That extra £100+ a month in travel costs (on top of general inflation and VAT) really influences peoples decisions as to where they live. This could, for instance, be bullish for inner city properties which avoid any commute, whilst 2 and 3 bedroom cities in commuter towns could experience larger falls due to the cost of fuel and trains. London commuter towns could fair really badly with these outrageous season ticket prices and limited options for driving and parking within London.
The more interesting housing question though is this: Do you really want to own a house when it's a sitting duck for taxation? Just like transport and energy, you need it and you can't avoid it, so it's going to be too tempting a target for the government and the banks who own the mortgages. And once you have that same mortgage, you're trapped into being a slave to the system where 80% of your salary goes purely on existing and feeding the beast of train companies, energy companies, banks, and the government. Quality of life here is going down the toilet and owning a house gives you no escape route.
I personally am giving up on the idea of buying a house for at least a year. I recommend you do the same. Reduce your ties to those companies. Reduce your dependency on these expensive services that we have to buy from them. Most importantly, reduce your ties to this sinking hip of a country. Just tread lightly for now and survey the wreckage in a few years time.
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Against the earlier estimate of +0.3%. It's all so unexpected!
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Same from me. Merry Xmas guys!
I actually quit the site for the first few months of last year for a bit of perspective, and think I will do the same in 2011.
See you guys in the Spring by which time I hope to see a solid 7% or 8% off the indexes!
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In cities such as Birmingham, Leeds, Manchester, flats are definetly leading the way down.
That's where all of the repos are, and having been following those markets, sellers are willing to negotiate there too.
I think they will diverge more before houses follow. There are so many flats and with the **** falling out of the BTL and FTB markets, I don't see where the price support will come from. Realistic yields are still very poor.
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I definetly read this as a coded warning of what is coming. No way would he have gone off piste and suggested this without approval.
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Terrifying. I've fired a number of accountants who turned out to be incompetent, thinking I would have a go myself.
Tossers are bound to find something to catch me out with.
I'll do the one man limited co thing, but it would be madness setting up a business with a big footprint between the leeches in local and central government.
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You can, *provided* that you can show it is truly a commercial arrangement and that you would enforce an eviction if they didn't pay the rent.
ISTM that is actually an impossible thing to do, but some people do manage it.
tim
^ This.
It varies by council, many need you to show that it has been rented to tenants previously.
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How the hell does anybody know?
2% or 20% predictions... The market is not moving in line with fundamentals at all so it's guess work.
Getting really tired of these VI predictions.
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Truly incredible numbers and yet prices still aren't cratering. Market is literally defying gravity at the moment.
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I disagree, prices falling for their peak over several years until they approach the 3x average earning levels are not so much predictable as inevitable.
I've been reading that for years.
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I wasn't terrified till I read this thread.
I am now pondering whether I would be capable of working in a petrol station and how likely I would be to top myself if I was to lose my job.
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The experts making predictions always make me laugh.
Few people in the world must spend more time reading about and studying UK house prices than us, and yet none of us have got the feintist clue what might happen.
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According to the last Land Reg figures the average house is getting about 90 to 91 percent of asking.
Surprised it's so much on average TMT.
If correct (and I have no reason to doubt), that's pretty exciting if you can mentally knock off 10% of the prices you see on Rightmove.
The market is right on the edge of my budget and doing this squarely pushes it in, so this post has bought a smile to my face
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I genuinely prefer renting, but it's the security of owning a house that massively appeals.
I bet this is what drives most people, and I'm surprised that this is uniquely a 'being British' thing.
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apart from that its pure magic
Hahaha! Sold!
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Clearly they are hampered by this system both financially and psychologically and dependant (whether they like to admit it or not) on the ongoing largesse of the hated English.
That's how I see it at one level. They get to feed on the largesse, but seem somehow less tainted by the bubble, maintaining a bit more independence about how they run their affairs in ways that chime with me.
I will eventually buy right in the north of England, but the student fee debate today has made me look a few miles further North.
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How do you guys feel Scotland, Wales, Northern and Republic of Ireland stack up compared to England as a place to live?
Apart from The Masked Tulip, it's not something that seems to be discussed in these parts. Which is surprising as the appealing differences are there on the surface.
- Your money tends to go further on property in Scotland and Wales. NI and ROI in full on crash mode. Less of a bubble in the first place?
- A better quality of life is available in terms of outdoor activities and space.
- No university fees if you have lived in Scotland for three years. This must be appealing if you have 2 teenage kids and want to save yourselves or them £100k of debt.
- Tiny council taxes in the ROI - not sure about the other areas.
- Low cost airlines serve these places just as well as the UK nowadays.
- Devolved power seems to lead to more pragmatic governance reflecting local needs and wants.
- + All of the benefits of living in the UK in terms of the NHS, relatively high per capita income.
Well paying jobs are the obvious requirement and possible concern, but do you think that other parts of the UK and ROI compete with England as a place to settle? What are your experiences on how they compare to the post bubble England of today?
- Your money tends to go further on property in Scotland and Wales. NI and ROI in full on crash mode. Less of a bubble in the first place?
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Amazing. So many empty homes in Ireland, Dubai, China, Spain, even our Northern cities.
And no shortage of people who would love to own one.
Why don't the two halves come together like they would in any other market?
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And you think the 'stat stays at 13!
That'll be it. I bet they invite all of their friends and neighbours around to warm up at your expense during the daytime.
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I'm on a prepayment meter in the current place. Seems absurdly cheap to run compared to the normal direct debit.
From £100 a month in the last place down to around £35. This is 2 bedroom flat to 2 bedroom flat.
Why do you need the heating on when you are out during the day? We just turn it on for 1 or 2 hours at a time to take the edge off and it seems to stay warm, unlike the old new build slave box we used to inhabit.
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in House prices and the economy
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Sun, sea, sand and petrol bombs....