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About Jonesy

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  1. What about transaction volumes? I think what we've got at the moment is a clear case of market disequilibrium, demand has dropped off a cliff but the downward stickiness of seller's price expectations has kept prices high with transaction volumes taking the hit. I think before we can start talking about prices stabilising we'll need to see transactions returning to normal volumes. As it stands would the banking system have the funding to support a housing market at current prices back at long term transaction volumes?
  2. This is the remnants of the psyche of the boom - the whole flawed logic of 'property is so very scarce, must rush to buy now, might lose out forever' - even a moments reflection on economic history shows this is completely false but property commentators, estate agents, developers etc have been living with this belief for the last 5 or more years, it'll take a while for them to adjust to reality.
  3. Very true - I find it amazing when you look at the graphs from Credit Action, how much mortgage and personal debt has had to increase to keep the economy ticking along at a moderate pace. I was surprised how confident the article was about the recession being mild, I'd worry that given the contraction of credit the saving ratio will snap back quite sharply as lending contracts and people pay down debt, plus coupled with a rise in precautionary saving it could be vicious - for the high street anyway.
  4. That's a very interesting point because whilst Nationwide does not handle the more risky sectors itself, I believe it owns two companies that specialise in that part of the market - UCB Home Loans which provide Self Cert loans and "The Mortgage Works" which specialises in Buy-to-let and near-prime. http://www.ucbhomeloans.co.uk http://www.themortgageworks.co.uk [Edit] Links didn't work.
  5. I knew a couple who ran a village pub as tenants of a large pub co. - they were actually paying more for their supplies wholesale from the pub co. than you or I pay at the local supermarket but as they were tied there was nothing they could do. I wonder how much of downfall of the pub is due to pub companies like that squeezing the business too hard - too much margin on the supplies and charging too much rent forcing up prices and leaving nothing left in invest in improving the business.
  6. WNDC objects to badly planned, excessive development!! You couldn't make it up!
  7. I've never understood the 'no garden' as a marketing angle because all the people I know who are 55+ really enjoy gardening and spending time in the garden, they've only given it up once they've hit real old age (85+) and their physical health started to be an issue.
  8. I can understand exactly where you're coming from but having lived in Northampton for many years it does make me smile when people living on new housing estates on the outskirts of town complain about further development - I'm sure the existing residents were saying exactly the same thing when the original Grange Park estate was first proposed. Trouble is though ultimately residents don't have much say in what gets built, the development continues. I understand there was a lot of opposition to Northampton becoming a 'new town' in the 1970's and the massive expansion then but it happened and
  9. From a quick drive round Grange Park it's obvious that further development was planned for the area - all the uncompleted stub exits on the roundabouts and road junctions exiting onto the undeveloped fields between the new estate and the A45. Surely the buyers didn't think they were for the benefit of the farmer!
  10. That one building in the photo is actually four one-bed houses - it's divided into quarters, so a cluster of 1 bed houses! There's a bunch of them along Weggs Farm Road and several more in Aquitaine Close near by. Now if it's a garage you're after, why not consider this fine property: http://www.rightmove.co.uk/viewdetails-169...=3&tr_t=buy
  11. I'd say no to all 3: 1 - The grid is pretty robust, supplies are not dependent on particular power stations operating besides if this did occur you'd hear about it. 2 - Could have been a problem with the wider distribution network but unlikely to be due to generation/transmission - there wasn't a NISM (notice of insufficient system margin eg. too little generation) announced. Besides lots of money has been poured into new generation since privatisation. 3 - No, the grid voltage is set and maintained by National Grid and would only be lowered under exceptional circumstances. Generators alway
  12. Do you think any of the 19th century worker-villages would actually get through the current planning system? Could you see a council authorising another Bournville - they'd ratchet up the housing density and build on the park land, that's if it even got through. Probably recommend a high rise development on a brown field site.
  13. Well the outlook for town centre flats seems less encouraging, i think this is the one listed above. 1 bed flat on Wellington Street - Northampton House. First sold 2003 £73,950 Resold in 2005 £88,000 (+19%) For sale at end of 2007 £60,000 (-31% from 2005!) http://www.rightmove.co.uk/viewdetails-18174935.rsp? http://www.houseprices.co.uk/e.php?q=213+w...%2C+northampton
  14. Yeah I wonder about the Woolmonger street development, I would say the area is actually worse than that around Morrisons/YMCA/Derngate - at least there you've got Becket's Park and over Far Cotton side there's the river. The Woolmonger street development looks out onto the loading bays at the back of Iceland/Homebargains/Peacocks and the back of some shops and the hotel on Gold Street. I've walked around it a couple of times and there's nothing remotely aspirational about the area.
  15. What I can't understand is why would any architect designing a 6 bedroom house which is likely to be occupied by, probably a minimum, of two motorists include only a single garage and one off road parking space. For a house that size you'd want dual garage and a big drive way with parking for at least 2-3 cars.
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