Unsafe As Houses

Agreed.

For what it's worth (not much at all): I'm 32 earn 32k a year and have 36k in savings with no debt. I'm currently renting a 1 bed city centre flat. Waiting (hoping!) for a HPC ASAP. I have been put off buying a house at present by the likely impending HPC; the fact I'm on a contract rather than having a permanent job (like many here); and plan (have) to look for a better job late next year and don't want to be tied to my current area thus impeding my search (32K isn't really enough to live comfortably even though it's higher than the median wage). However, this comparing your inome etc. to others mostly in a simlar position to yourself is not useful. You don't get good quality data from asking people how much they earn. That's why the government aren't including questions on income in the 2011 Census. http://www.ons.gov.uk/census/2011-census/2011-census-project/2007-test/income-evaluation/index.html "404 individuals who completed the 2007 Census Test income level question also took part in the Census Test Evaluation Survey (CTES), in which they were asked this question again. Responses matched in only 66.8 per cent of cases, indicating that the question was difficult to answer. "

These 'apartments' have been an utter disgrace since they were built in the 1960s and 70s. They should pull the mostrosities down. People I know who live there hate them. The people originally responsible for them - T Dan Smith and John Poulson were convicted of corruption over the award of building contracts and bribery of local councillors and politicians. . The people who lived in this community were sold the idea that their area was going to be 'regenerated' ; instead, they ended up living somewhere much, much worse. This area was 'regenerated' again in the 1990s and once again it didn't do any good for the people who actually lived there. In Newcastle, regeneration and corruption still goes hand-in-hand.

120-165k? I keep seeing this ridiculous pricing strategy and it annoys me. Is it a compromise between an EA trying to get the seller to lower their price and a greedy or heavily mortgaged seller; or is there some evidence that buyers (dumb ass ones surely) make higher offers when faced with it? Does anyone know?

Isn't the interest rate and QE decision due tomorrow too? Maybe a small halifax drop (=>-0.3%) will be overshadowed by an announcement of more QE to come? :angry: P.S. I'm a pessimist

Any buyer would be looking for some kind of reduction on the asking price in the present market anyway. I can't see this strategy catching on - what does the seller do on 31/01/11 if they haven't sold? A more likely scenario than not. To have any hope of selling in the near future they would either have to extend this deadline or lower the price permananetly by 7.5%

Yeah, I belatedly realised I was in the NI regional forum just accessed it from the website front page.

I'm not seeing that in my area sadly (Colchester, Essex). Am still seeing just the 5-10k reductions on some of the properties listed for sale, and the number of properties coming onto the market has reduced in the last couple of months. Others have reported this trend too. It would be helpful if posters gave their location so that we get a better picture of what is going on nationally. There appear to be big differences in what is going on depending on location.

Over 35,000 people will be employed in mostly part-time roles between April and August for the 2011 Census. http://ig11.i-grasp.com/docs/images/579/6/1/Frequently_Asked_Questions.pdf I'm thinking of doing one of thepart-time jobs alongside my current full-time job.

I'm sure someone else has already expressed my view on a different thread, but we need degrees in vocational subjects: bricklaying, carpentry, plumbiing, tiling, painting and decorating, electrics and gas - and we need to employ graduates from these courses to build GOOD houses. Currently, to get qualified and get work in these industries you normally need an NVQ, but to enrol on an NVQ course you already need to be working in the industry. We need a more degree-type system for studying these trades I think. This would help get more skilled people into these industries and address some people misconception that studying such subjects is somehow inferior to studying economics, political science etc. Plus, running your own business should be a degree. I used to work in a mid-range ability university and - just my opinion of course - around 40% of students weren't suited to a career in academia. I'm also unconvinced by the assumption that all degrees give transferable skills that will help for a career in a white-collar industry. I did a BSc and PhD when younger and work for a uni now - but if I was starting out now at 18 I'd train as an Electrician.

It's just been briefly reported on BBC morning news - as being attributed to lack of buyer interest and more properties on market. No mention of the still 'postive' year-on-year figure. Biggest monthly fall in Halifax index ever apparently.

It's correct!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! http://www.lloydsbankinggroup.com/media/pdfs/research/2010/HousePriceIndexSeptember2010.pdf

Sounds a winning programme to me - I'd watch it.

Bad grammar and incoherent positive spin - are you an Estate Agent?

Very comprehensive - nice. My technique is simply to search for the number of new and reduced propertied within a 5 mile radius of Colchester nearly every day, so I'm basing my view of a slight drop off in my area in the last 2 weeks on that Like I said, hope it's just a blip. On the other hand, September clearly wasn't the active month some bulls argued it would be in August - that must be a good sign. Maybe activity will pick up in October, but by then we just may have some snow again! .

I'm not seeing this in my area (Colchester, Essex) - the number of new properties and reductions have dropped a little in the last 2 weeks. Hope it's just a blip

Agreed. I've never seen thise before so thought it worth putting on here. Perhaps we'll see more of them in the next few months?

So that's a 25 year repayment mortgage at 6.25%. Is that competitive or not? (for 95% LTV it must be?) Is it fixed? Can it go up? Is the house at the right price (superficially looks ok) I guess that the seller must be a repo company. I can't see a normal seller entering into this deal. House does look good for the price based solely on the pictures and description, but I think the fact that they're positively encouraging people with bad credit histories and recently arrived immingrants to apply who can move in within a few weeks should override anything perceived to be good about this deal. Maybe there's something very wrong with the house that you can't see from the pictures? J

My local Woolies shop (Colchester) is still empty last time I looked. The local 99p shop has also closed down but poundland appears to be thriving?? I guess the locals are willing to pay that bit extra for that bit extra quality :Not that I'm being snobbish about such shops. I buy certain thing from there. What is the significance of some Woolies still being empty?

The dodgiest property I've seen on RM so far. J http://www.rightmove.co.uk/property-for-sale/property-31050776.html ------------------------------------------------------------- Key features: * No bank loan needed * Move in within a couple of weeks Full description: 2 Bedroom Bathroom Kitchen Reception Double Glazed Central Heating Tenure: Leasehold NO MORTGAGE, NO BANK LOAN NEEDED TO BUY THIS PROPERTY! BENEFITS: - Minimum £9,000 deposit needed and then £231/week buys this property. Full purchase price £159,000. - No bank loan/mortgage needed, no lengthy forms to fill out - As easy as renting BUT YOU OWN YOUR OWN HOME! - Move in within 2-3 weeks and stop wasting money on rent - Benefit from any potential property price rises in the future of your own home - Do up your home and make it even more valuable - Suitable for renters who would prefer to use their rent money towards owning their own home Great if: - You're new to the UK - You have impaired or unestablished credit history - You're self employed - You cant afford or don't have a large deposit saved - You want to own your own home today FEATURES: - Large double bedroom - 2nd bedroom - single - Great street - Close to shops & transport - Double glazed windows - Add immediate value by giving the place your person touch HOW IT WORKS: - Pay a minimum of £9,000 upfront and then £231 per week - It works just like a standard mortgage, but there is no bank involved - The purchase uses a standard legal document that goes between the buyers and sellers solicitors - You have complete flexibility to transfer the property over to a bank or pay it off at any time up to 25 yearsDo this on day 2 of the purchase or year 24, with no lock in fees - There is no need to save a huge 20% to 40% deposit and fit strict banking criteria to make this property your home!!! WHAT YOU NEED: - A job or be self employed - The minimum £9,000 deposit - The ability to make the weekly payments of £231 comfortably - The ability to move in to your new home within just a few weeks ---------------------------------------------------------

If, at x date, the BoE believe now is the time to raise interest rates or so-called 'Economists' or the MSM believe now is the time BoE will raise interest rates I think those not in the loop (i.e. me and probably most HPCers and the public) will be the last to hear about it (. Contrary to the Telegraph article, I expect very gradual interest rate rises starting sooner than most commentators are indicating.- end of 2010 beginning of 2011 with a modest 0.25% rise. J

I think the start of the program set the tone "For the last few years, Britian has 'enjoyed' a buy-to-let boom". The underlying message is that, partly because of the financial crisis, some poor hard-working landlords who are simply providing a social service are being ripped off by nightmare tenants who refuse to pay the landlords their hard-earned cash.