Report Eas Favouring Btlers in House prices and the economy Posted May 29, 2013 Yes they are.Of course its a million miles away from the London property market but in my home down there is an area with 8 terrace streets.All tiny houses and not very nice at all.Used to go for around £15k.Most people in them were working but in low paid jobs but couldnt move up to a bigger house. Along came the property boom and they went from £15k to £70k in 3 months.I kid you not.The local estate agent had southern buyers phoning them and buying them up without every coming here.The locals all sold them as quick as they could knowing these loons were buying rubbish for 4 times their worth. The locals then mostly bought much nicer houses for an extra £10k and the savy southern "investors" ended up with street upon street of BTLs. Roll forward to now most of the houses have long voids,need £000s spending on them and every other one is up for sale for £25k.It must of been happening everywhere if it happened in our sleepy little town. This has happened in my neck of the woods (North) with bottom end properties bid up from £25k to £100k. They are now back below £40k. In a crash these old terraced miners cottages always fall off the bottom of the market. What I don't understand is why this wave of bottom end value collapses is not wiping out investors. Our house values stayed stubbornly low compared to the South East right up to 2002. Values doubled from 2002 to 2004 and then coasted along with small rises. House values are now below 2005 levels and gently dropping. Why are we not hearing about investors that have been wiped out by Northern house price drops?