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House Price Crash Forum

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  1. Posted in right section not inflammatory or derogatory just asking for any advice. Hardly trolling........
  2. Hi a friend has £175K in savings and is at a loss as to what to do with it to protect it from inflation. My gut feel is he should invest it in a house as its a real thing and he will always get a rent. (as long as its let out.) Others suggest shares but I can't help feeling we are in for a crash. If he leaves it put ( in high interest account I'm guessing ~2% ) then inflation is going to erode it. Anyone got any suggestions? Thanks, TP
  3. I lived in Windsor for around 7 years Rented then bought Aircraft noise is terrible (especially in nice weather as planes more likely to make final approach over windsor) I didn't get used to it - some claim they do ... But fab town to live in. I rented when houses in Bexley Street were £112K thought that was mad then during last crash they fell and I bought a 2 bed for £84K ( I sold for £262K as I thought crash was inevitable - but was a few years too early - were going for £350-400K recently - madness! ) SO NOT EVEN WINDSOR IS CRASH PROOF - may take a little longer though than other areas Would be surprised if they don't go down at least 15-20% Its madness to live in windsor unless you can walk into town. If you can't have that benefit then putting up with the noise doesn't make sense. Renting is great idea - suss it out then decide....from that point of view fab place to live (expect to get a shock on the beer prices though compared to up north!!)
  4. Happy to take BIG risks if I undertand them Hmmm short notice thing - yes I guess some of it £20K say Happy to invest lots of time into research
  5. Go them ...... But value goes down with inflation.......................
  6. Thanks to everyone for their input so far...........I do appreciate this isn't the most sensible or professional way to get advice ....however the refreshing thing is people are free to say what they like / think as opposed to IFA's who are bound by so many rules and fear of making mistakes they will never offer more risky advice. My situation 40 Unemployed (finding it tricky to get job at moment) but when I do should be in the 30K + mark Just me to worry about :-( No borrowings on house ( yep kind of happy where I am) Pension - no faith in it anymore..... Can't live on £600 / mth a rental property would bring but would mean could struggle by with odd jobs if have to. Don't want to eat into my £175K to live on so buying a house would put it out of reach but provide a revenue stream for life.... As I see it a rental property ( owned 100% ) gives following benefits £600 / mth for life (kind of inflation proof as rents should go up over time. Capital will go up and down in value as house prices crash and recover ( if they do - I called top of market 2 years ago and was wrong) but in any event likely to at least go up with inflation. I don't see another vehicle for getting an income - that doesn't mean you end up with your orignal capital getting reduced in value by inflation. I'm very adverse to borrowing money generally.................but have taken huge risks in past and may do again in the future AND YES I really thought "it had started" as when USA started heading down I thought UK would follow suit but for some bizarre reason there seems to be a rally in prices again....certainly locally. Last mad blip - probably..................... Sorry to sumarise I guess what I really want to know is where best to get an income for life from £175K ( inflation proof and capital protected in long term).... Thanks for your thoughts
  7. Hi, I've got £175K ( Cash ) to play with .... Do I buy a small house and get an income of £500-600 for life (Seems attractive as constant income... or is there somewhere better to put it? Where can I get a better return? Cheers Paul
  8. This is true ! Maths not a strong point for me. ( house orginally up for £295K ) then reduced to £290K when it actually sold for £265. Hence my confusing myself. I sit corrected.
  9. All of a sudden prices are being marked as "guide prices" in a lot of EA windows in Newbury ..........does this means somethings afoot? ( also saw a £290K house in a nearby town go for £~265K a drop of £25K !!!!) Does anyone have any other info on whats happening in Newbury and nearby areas.... My sources from EA's indicate people are taking well under the asking price after properties have sat on the books for a while. I also can't belive a lot of the new BTL's are yielding anything remotely decent. I remember Newbury being in the Sunday times when it had gone "bust" after the Thatcher boom, lots of empty shops and the like. What convinces me the most is the plethora ( spelling?) of coffee shops.....just like last time just before a recession.....
  10. A house in Berkshire - small town near Newbury just sold for ~£265K vs its original asking price of £295K when pushed people are taking the hit.......
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