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House Price Crash Forum

FamilyGuy

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About FamilyGuy

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  1. I really can't see much changing at the moment. Until planning laws are relaxed and more houses built demand is keeping house prices artificially high. Unless something goes really wrong, I can't see interest rates rising too much, and even though it looks likely for more layoffs in the public sector, private sector job losses are starting to tail off. All I can see is a long period of stagnation, with house prices remaining roughly the same. A few ups, a few downs, but nothing really changing until the main limiting factor, house and land supply is changed. There was a good interview on Radio 4 on Monday lunchtime. Stated house builders were getting back to what they liked doing, new developments of houses on the edges of towns and cities where there already is the necessary infrastructure, along with occasional redevelopment of brown field sites. Flats are now out of fashion.
  2. I see from the good old Oxford Times that the plan has been rejected - I wonder how this will be re-applied for? ...Also, does anyone know of actual family homes with decent amount of space and garden being built in (unlikely I know) or around Oxford? As far as I can see, there has hardly been any new family homes built (not terraced townhouses with small rooms and small gardens) for quite a while.
  3. ...And just to bring a smile tou all our faces (apart from if you were affected): http://www.oxfordtimes.co.uk/news/4750043.Estate_agents_raided_over_missing_rent_and_deposits/ Charles Lawson and James C Penney raided over missing rent and deposits! Will they get locked up?
  4. Looks like Oxford is still doomed to have one of the worst shopping centres in the South East: http://www.oxfordtimes.co.uk/news/4739494.Oxford_s_Westgate_shopping_centre_redevelopment_in_limbo/ The comments are very true...
  5. for some reason my mental picture is of you, naked, on the chaise longue with a pipe. Apologies.
  6. I don't hink anybody has been running down North Oxford. I don't agree it is one of the best places in the UK to live however, just one of the better places to live in Oxford. Jericho is nice - again I've lived there (one of the disadvantages of having only stayed in a house for a max of 3 years is I've now lived in a lot of places...). Schools are good. A number of cafe's and restaurants for going out. Disadvantages are overpriced . A lot of the housing stock is poor - a lot of the terraces were built for canal workers are not well built and are small. Waterside is alright - further away from the shops and bars and closer to the railway line. Some of the houses have a very good view of the railway line, so be aware. But I'd certainly say it's one of the nicer areas of Oxford, but you are going to pay a premium for it. If you do have kids, especially more than one you could end up in a small, expensive house. There are other good primary schools in oxford, and Cherwell isn't the best Secondary in Oxford, but it's one of the best. However, if you do need to move you would be able to sell your house What are you looking for in a place to live? space,. schools amenities?
  7. Hi Tom, I'm also looking to buy - but I think the best advice is if you see a house you really like, as a home where you are going to live for a while and it is on at a good price (for the time and area) then buy it. Don't kid yourself you're doing it because it makes a great financial choice, but you're doing it because you like the house as a home. If you don't really like the house, or it doesn't suit your needs, don't buy it. If the prices go up, you can feel smug for buying at the right time, if not you can feel happy that you really like your house and it will go up in value eventually, but the current loss in value doesn't matter as you weren't going to sell anyway. In the end no one really knows how much houses are going to rise or fall in the next 5 years, so make the decision based on the house
  8. ...I'm interested as to what you think will happen with the rest of Oxford. North Oxford will be ruled by old money (either institutional or personal) or wealthy individuals - I still don't really agree as to why property is the best investment for them, and why N. Oxford is the best place for them. This demand will always outstrip supply in North Oxford, so prices will always rise - the pent up demand form earlier never getting less only increasing. What's going to happen to the rest of Oxford where these market drivers don't exist? Are we going to see N Oxford become it's own small property bubble, with the rest of Oxford either staying roughly the same price or getting less, or are we going to see the rest of Oxford rising as well?
  9. I'm not sure about your arguments as to why prices will now only go up in North Oxford. So far: 1. North Oxford is a desirable area to live due to schools, demographic of locals and... 2. Inflation is on it's way, so buy now before your cash isn't worth as much 1 doesn't explain why you think prices will now only go up. I agree with you that North Oxford is the most desirable suburb of Oxford for the majority of people. However, this held true when prices were going down. If your argument is that demand from wealthy locals, commuters and foreign students will now always outstrip supplyI would also like to know why you think this is true. I agree that this is happening at the moment, but why do you think that it will hold true for the foreseeable future? 2 might be a reason for you - seems very dubious reason to bank a lot of money on it . If your money was in better returning (and hence more inflation proof) investments it may not be such a good idea - as pointed out by an earlier poster renting is much cheaper than buying in North Oxford
  10. Wow, I really hope you're (completely) joking. If not... I've lived in both N. Oxford and Richmond (but not Richmond Hill). Both are nice places to live, but I've also lived in other places which are just as nice, and as low crime. Keep believing you're paying the money for the 'better' facilities and better demographic. I do think that N Oxford is much more about status rather than the 'type' of area. Let's face it - there's nicer places to live in other cities. Summertown and much of the Woodstock and Banbury Roads would be considered pretty average in a lot of other places. The only bits that have (mostly) nice architecture and buildings are the victorian gothic areas (IMO - I know I'll be setting up a flame war about architecture). I also think there's nicer areas of Oxford - personally I like Pullen's lane. But everyone is free (money depending) to live where they like. You like living in N. Oxford - good for you. However, if you think I'm jealous of you, I'm afraid you've got that wrong...
  11. Agreed demographic of who lives in CN and N Oxford has changed since the 1970s and early 80s - I can still remember a lot of the squats there from that period, and people picking up a (relative) bargain. People coming in from the City (or other London areas) or parents of rich students buying properties is now (IMO) more true of the boom time. Private school numbers are dropping rapidly (I know of some in Oxford with very low class numbers now), and rich overseas students are far less. Oxford also has to compete with the prestige American Universities forthe smaller pool of rich students. The number of richer people is falling now, so there are less who can afford the high prices. Also the argument that people who have bought a long time ago can now sit on their investments is true of any area, not just Oxford. Unless there is a lower rate of births / deaths / divorces in the CN and N Oxford areas, I cannot see how this would favour Oxford over any other desirable, commutable city oustide of London. So yes, what you mention has driven the CN and N Oxford market (which is very different from the rest Oxford) until now. I don't see how this is going to be the same driver for the future. I think what is driving the market at the moment is competition for a very small pool of properties by people with money left. I don't see this as sustainable.
  12. A while ago some numbers were posted on here about student numbers - looking at some of the last year's from Brooke's they haven't exactly soared. £1200 for a 3 bed house is at the very top of the rental market. You certainly wouldn't be making that in most housing. I don't think most houses are being sold at high prices. CN and N Oxford still commands a premium, and there are still people with money who buy there, but still prices have fallen there - not exactly Oxford avoiding the housing drop. Once the summer rally comes to an end I think we'll see more drops even there. Fundamentals still say houses are overvalued. Interest rates can only go up. Unemployment is rising. Mortgages are difficult to come by unless you have a very large deposit. volumes of houses changing hands is historically low. I don't think sentiment is saying to most people that Oxford is the place to buy to avoid HPC. If that is the case why are we not seeing investors flocking here to buy? I think anyone calling the end of the falls now is very brave.
  13. I think you are very brave in predicting the end of house falls in Oxford. 18 months in, small summer bounce doesn't mean the end...
  14. Agreed about Oxford City Centre. Hardly ever go in as it just so crowded that the kids hate it. In fact I find Oxford a very family unfriendly city compared to other similarly sized cities. Very few facilities for families, cr*p shopping - we end up going to Milton Keynes or Reading. It's great if you have money, and like going out (much like London I find), but if you have family it's pretty poor.
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