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House Price Crash Forum


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Everything posted by Warwick-Watcher

  1. Peterborough is apparently already the shittiest place in England - for the third year according to this website. https://www.ilivehere.co.uk/top-10-worst-places-to-live-in-england/10 Now it's to lose its John Lewis branch; is there no end to the pain? However housing is cheap - £270k for a 4 bed detached house. https://www.rightmove.co.uk/properties/78881934#/
  2. Banbury being a classic example - the Castle Quays shopping centre is owned by Cherwell District Council, who are paying a fortune to expand it; whilst the old BHS unit has been turned into a pop-up food/gift area, M&S has closed and moved out of town, and now Debenhams will go - leaving the 3 largest units in the original centre empty. Whilst they busily build more retail and leisure across the canal whilst removing car parking spaces?
  3. Help to Buy London provides up to 40% equity loans from the government up to a ceiling of £600,000. Small value? https://www.barratthomes.co.uk/new-homes/london/why-us/help-to-buy/london-help-to-buy/
  4. It's not just 21m "refugees". It's probably 500 million people who'd like to live somewhere nicer/richer than they were born.
  5. Flat 349 as another example. Sold for £409k in 2003, listed at £830k in 2016 and sold in 2017 for £750k. Yet Zoopla now estimates it as worth £910k ! WTF A 17 year old flat up against endless new builds in that area. Good luck getting 20% more than it sold for 3 years ago.
  6. 1200 square foot, 2 beds, why the heck does it need 3 sh!tters?
  7. The ones crossing are the key to entry for their extended families - just wait 3-5 years. They probably won't qualify for asylum but will be granted "exceptional leave to remain". Then just sit and wait until in-laws are allowed to join them.
  8. True, unless they have a thing about horse statues! Looks like Oxford may be dropping or rising - who knows! https://www.zoopla.co.uk/to-rent/details/54584532?search_identifier=3cb7fb052a098bd41e02758d79a16984 Someone really wants a tenant - 4 price drops in 17 days! https://www.zoopla.co.uk/to-rent/details/55176286?search_identifier=3cb7fb052a098bd41e02758d79a16984 What's going on here - on the rental market for 11 months with 7 price changes? https://www.zoopla.co.uk/to-rent/details/52410793?search_identifier=3cb7fb052a098bd41e02758d79a16984
  9. Or houses in Leamington Spa - developer obviously bought the colour palette from Homes Under The Hammer - grey is the new beige magnolia! Reduced 4 times since March from £1,400 to £1,000 ppm asking. Bought in 2019 for £250,000. So at best £12,000 p.a. rental income on a £250k capital outlay - under 5% yield. https://www.zoopla.co.uk/to-rent/details/54451526?search_identifier=fe6567976fac9717baf94caad4cafab0
  10. Claim in the article that rents outside London are rising. How does that stack up when a million people have signed on in the past 3 months and another 1-2 million are about to lose their jobs? Banbury 2 bed flat example :- https://www.zoopla.co.uk/to-rent/details/54879417?search_identifier=f2bcea97b7a3ed72ebbdf7fa0a76f223 Reduced by almost £75 a month, so that's £900 a year less income for the landlord. At say 5% yield (asking £802x12) that caps the value of the flat at £192,000. Highest previous sale of a flat in that street is £183,000. Not looking likely that's going to be beaten any time soon.
  11. BBC reporting job losses of their own - 520 roles in news. https://www.bbc.co.uk/news/entertainment-arts-53416067
  12. Presumably she'll have to move into a house share, or god forbid back home to her parent/s. Love the idea she's going to try to earn money on the side as an actress; of course there's going to be a shortage of actresses to fill paid roles in the near future!
  13. Key difference is that most people buy shares without borrowing huge sums from a bank to do it. Houses are different.
  14. The Guardian shedding 180 jobs. https://www.telegraph.co.uk/business/2020/07/15/guardian-cut-180-jobs/
  15. I think he essentially tried some form of property arbitrage. He's borrowed money from loads of councils and spunked it up the wall invested it in commercial property across the UK using the expected rental income to pay back the borrowing. So not just Spelthorne in trouble but all the councils who have lent money?
  16. I"t's hard to grasp as it's happening across the UK and somewhat gradually. As more and more people are impacted and their family/friends get to know about it there will be little else talked about. How this cannot impact house prices is beyond me. This is shaping up to be worse than the 1980s recession.
  17. Or for £25k less in trendy Manchester you could have a much better apartment (and the price difference will pay 10 years service charges). https://www.rightmove.co.uk/property-for-sale/property-85041023.html Or live by the coast just 90 minutes by train from central London (link from the big and multiple drops thread). https://www.rightmove.co.uk/property-for-sale/property-71375910.html
  18. Perhaps more interesting that 23 years ago it went for only £112k. Has inflation in everything else been 200% over the past quarter century?
  19. Aberdeen is slowly on it's way to join many other British cities where their original purpose for existing has gone. Liverpool - docks and shipbuilding, Welsh valleys - coal and steel making, Glasgow - service the empire and manufacturing (to support shipbuilding amongst other things). None of these places developed for fun - they all served industry. Now we're left without the industry but still have the assets and the people.
  20. The cheapest property for sale in Westminster on Rightmove is a £300k studio apartment (ignoring the short lease places, garages and houseboats). https://www.rightmove.co.uk/property-for-sale/property-71472378.html Using my proposal that's £1,500 a year. Not too much to live in prime central London surely? Most expensive is £41.5m - 11,000 square feet, 6 beds etc. Whoever buys this could surely afford £207,500 a year in council tax? Rather than the actual maximum which is £1,560 ! https://www.rightmove.co.uk/property-for-sale/property-94228469.html https://www.westminster.gov.uk/council-tax-bands-and-rates
  21. Without being too rude, what insights from an eighteenth century romantic novel remain to be discovered in the 21st century? They'd be better studying remedial maths so they can function in the modern world. https://www.leaderscouncil.co.uk/news/government-pledges-30-000-new-traineeships-for-under-25s Training in English and Maths for post 16 year olds. When the heck were they doing in the previous 11 years of compulsory education? How to write a CV - I'm sure we did that in our fifth form year (year 11).
  22. So will some of them choose to move back to their original country, or are they mainly students?
  23. Maybe set council tax at around 0.5% of estimated resale value? Jobs for surveyors to do the annual/bi-annual valuation? House worth £600k - council tax would be £3k - a bit higher than today's bill in most places; which would help fund social care. Tough on the millionaire properties in London, but someone has to pay for the unwaged to continue to live in central London. Imagine a £10m property in Chelsea - council tax would be £50k - a year !
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