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House Price Crash Forum

Montymoore

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About Montymoore

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    Putney Londn
  1. Sold my top of brixton hill flat October 2006 for £204k. Always knew that SW2 and environs would be very vulnerable in a difficult market hence sold at "almost" the top. Keeping a close eye on the area.
  2. Top floor flats usually cost more because of less noise and better views......
  3. The annoying thing is is that it works. Foxtons have been the most succesfull EA ever. Basically sellers like them and buyers hate them and guess who pays the fees. Yes a whopping 3.5%. They can sell half as much and make more than a standard EA on 1.5%.
  4. Funnily enough it was in East Anglia where the first falls were recorded in 1989/90.....
  5. I can vouch for that. I was the only owner in a block of 5 flats. An incompetent freeholder and 4 couldnt care less BTL was a disaster. Dry rot took hold and the between 5 flats we had a service charge bill of £120k in the end. One flat was completely destroyed. The BTL didnt notice dry rot taking hold and kept renting it out despite the Tenants complaining. In the end he lost 2 years worth of rent while it was being repaired. We went to arbitration and got £80k of it back from the Freeholder as the BTL did eventually tell the freeholder who did nothing as well for 2 more years. Self managed is better than an incompetent Freeholder but a good freeholder is better still...
  6. Dont forget that the statistics are comparable data sets. Why should October 2007 have more "done up" houses than the statistics from October 2006?
  7. That is hilarious looking at her post in 2004. Just goes to show that it is all about timing!!! Anyone can say the market is going to fall and they would be right. I do not agree on her comparisons with US on subprime. People in the US have seen their payments go up 300%. No wonder there has been a crash there in the sub prime market. Funnily enough decent houses in nice areas have been hardly affected.
  8. If you release equity from a property without selling it arent you just borrowing more with the equity as collateral. Now that surely means that you will need to be paying the loan.... so the warehouseman and receptionist must have a higher income than you think!
  9. This is beginning to scare me.... I have the proceeds of a house sale in there!!
  10. Is it just me but has egg been down all morning!
  11. Carry trade is important here as is the influx of rich asians from the booming economies, and the don't forget high commodity prices which has allowed tax cuts on a big scale. Yes tax cuts! last year a high earner in Australia was given a 2% tax cut and a raising of the higher rate from $70k to $125k. This explains the main reason why house prices have not crashed. ie interest rate rises have been offset by tax cuts. Can you imagine that happening here!!!! The Aussies love their houses almost as much if not more than the Brits.
  12. The buses up and down the hill are excellent one every minute but the problem I think was the layout. The rooms are narrower at the centre of the building like a pizza slice. Having said that £300k for a small 2 bed flat was a bit steep. The real issue is when are these developers going start to seriously discount. They must get rid of them in the end! I suspect that there may be a tax on empty residential property that is not being sold. Gordon has tried this on the commercial market residential will soon follow.
  13. Sold my Streatham flat last year for £205k (larger than average 2 bed) By early this year similar properties on market 245k but now I see tons on the market. One development is still only 30% sold having been completed September last year. You might know it... Trinity place with tesco express underneath at top of the hill
  14. Has your girlfriend rented it out since meeting you? this bit is not clear
  15. Do get advice on this from an accountant as basically it is important! Getting married is irrelevant really as you both have £8800 CGT allowances and if you have owned it for some time you get taper relief and private residence relief for the last 3 years of ownership.
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