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Tonester

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Everything posted by Tonester

  1. "It is dif­fi­cult to speak ade­quate­ly or just­ly of Lon­don. It is not a pleas­ant place; it is not agree­able, or cheer­ful, or easy, or exempt from reproach. It is only mag­nif­i­cent. You can draw up a tremen­dous list of rea­sons why it should be insup­port­able. The fogs, the smoke, the dirt, the dark­ness, the wet, the dis­tances, the ugli­ness, the bru­tal size of the place, the hor­ri­ble numeros­i­ty of soci­ety, the man­ner in which this sense­less big­ness is fatal to ameni­ty, to con­ve­nience, to con­ver­sa­tion, to good man­ners – all this and much more you may expa­ti­ate upo
  2. The article is written by an entrepreneur with a choice about buying a home. I suspect most entrepreneurs in the UK, at least of the younger generations do not have that choice. I do wonder how harmful our government's outstretched hand, supporting those with mortgages above renters, is to our nation's innovation. Those who innovate and start new businesses are not mortgage-material. I'm in this situation, and I don't have any qualms with the banks in this regard - my future income is not as predictable as it used to be when I had a more regular job. This was not really a concern when
  3. Hi all, haven't been on here much recently but I'd be interested to meet up again! Wed 12th Salisbury suits me too.
  4. Long time from me on here too. I notice this thread has 180,000 views - probably more than the population of Cambridge! I've moved from one rented property to another - the rental market is incredibly competitive so there's probably upwards pressure on rental prices. Hopefully the tide has turned with house prices, however being self employed now I doubt I could get much of a mortgage in any case, so I haven't been following the market so closely! I'm still reluctantly bullish on prices though while interest rates remain at 0.5%.
  5. Haven't been on here for a while. Is the general consensus that it's a seller's market and we're back up to peak prices in Cambridge now? Looks that way from a glance at Rightmove?
  6. Pure politics at it's frustrating worst. 1-0 to Mandelson if anything. The traditional political strategy at this time would be to play your cards closely to your chest and keep policy under wraps until election - and for the Tories to say they will cut waste and for Labour to say Tories will cut key services. Yawn. I just wish one of the parties had the balls to take a risk of being specific with what they plan. If so I think they would get some respect, as plenty are expecting measures of austerity and I think can accept some pain.
  7. Isn't there a chance they all just need time to sync their economies? The effort to get Germany into growth with low interest rates fueled a boom in Spain, Ireland etc. It may not be possible to achieve equality easily. Kind of a big risky experiment to go through wasn't it?
  8. I was about to say it wasn't bad price for Cambridge until I saw: Lolololol
  9. There are fewer properties on the market, prices are up and competition for houses is hotting up. Well, interest rates did go from 5% to 0.5%. We are seeing a housing recovery of sorts - no doubt about it, but for how long they keep interest rates this low - who knows?
  10. I only monitor Cambridge city-wide prices in the medium-low range. They have dropped around 15% from peak - as opposed to over 20% nationwide. However, there has been little movement since Christmas. Anecdotally friends looking to buy locally have seen a lot of competition for each property recently. On the supply side, across the country mortgages are cheaper than a year ago, and now the deposit requirements are creeping back down. On the demand side the main factors are sentiment and employment. There is currently a more positive sentiment, and Cambridge employment seems to be hold
  11. There has been a turn around in the property market since the interest rates have dropped. That is for certain. There is increased activity, property bee showing fewer reductions and Cambridge employment appears to be holding up well. Will be interesting to see what comes next because I haven't a clue. I'm still expecting this to be the main 'bull trap' on the way to the bottom though.
  12. I bought about 5 years ago, probably in similar situation to your son. It is natural for him to want his own place, and for you to want to help out. But, as Redwing said consider the middle option of renting a house. I was lucky about when I bought in the cycle but it wasn't due to any skill or judgement on my part. I didn't consider renting a house. In this stage of the cycle (on way down) it may be the better option. Renting is not dead money if house prices are going down this fast. Rent on, say a home of £170k is around £750 per month in Cambridge. If mortgage was £120k at 4% thi
  13. If you take UK house price measures they range from a 10% to 20% decrease over last year. Anecdotally I'd say Cambridge has seen a 15% decrease in price. It is now cheaper for your son to have a mortgage than to rent with rates as they are but I think there will be an 'overshoot' of prices, so you should hold off for a year if possible. I think we're about half way through the steepest falls and there's another 10-20% to go. I don't see much evidence of properties selling quickly having regularly checked Rightmove website. I use the Firefox browser rather than Internet Explorer and this
  14. ...and those three will be on the market a whole lot longer too
  15. Lol! Bradshaw's having a laugh. 3 properties added today, all basically in Arbury: £459k http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse £375k http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse £375k http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse
  16. http://www.cambridge-news.co.uk/cn_news_ca...e.asp?ID=403183 Basically a story about how the government is forcing council to hand over land for new developments, ignoring probably legitimate claims that there just isn't the demand anyway.
  17. Meadowcroft update: Only 5 remaining apparently! http://www.rightmove.co.uk/property-for-sa...on%26index%3D10 However, LR say only 4 have sold http://www.rightmove.co.uk/house-prices/de...summaryIndex=50 Hmm... who to believe...
  18. I can't be bothered to find it but a few pages back I pointed out this one.... it's certainly not worth £275k which was their price back then! I haven't posted here for a while, but I have still been property bee-ing. Here are my current observations. On Rightmove over last year in my price-checking range the number of houses has gone down from 500 to 340. It will be interesting to see if this goes up in Spring. I think prices are down around 15% from peak. Houses that are well priced go very quickly. It is now cheaper to buy than to rent (if you have a big deposit), but that isn't so
  19. Ok it's clear a central London place will always have significant land value. However, some of that will still be speculative. I guess what I'm after is a comparison of an average place in an average area. That's looks a good graph - thanks, although probably needs a bit of info about how the values are calculated.
  20. Over the last few years the cost of land has gone up a lot more than the cost of building a house on that plot - am I safe to say? So follows the theory that land prices represent a lot of the speculative element of houses. Does anyone have any recent figures for typical build costs vs land prices in UK? (yes, I know it depends on area and type of house etc.). If we get to the point where houses cost close to what they do to build - is this a significant point?
  21. Nice - well there's a garden room with dimensions of 15'7" x 13'0" which is larger than some gardens in Cambridge!!
  22. Indeed. They could of course be planning to knock it down... On other matters it looks like my prediction that the Aquarius Suite at the new Vie development would be aptly named: http://www.cambridge-news.co.uk/cn_news_ho...e.asp?ID=390150
  23. http://www.rightmove.co.uk/property-for-sa...D1%26index%3D20 What do you make of this one?
  24. I agree it's got to the stage in my area where if you have a 40% deposit it is cheaper to buy than to rent. However, 3 things stick out when you look at the mortgage deals: 1) The deposit required is high, so banks are expecting further house price falls 2) The rates for fixed rates are still high e.g. 5 year costs are still around 5%, so banks think interest rates are going to rise. 3) It is now normal for arrangement fees to be around £900. This is because the banks think we're mugs.
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