Antsy
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Posts posted by Antsy
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Rousing from my slumbers - pre: 7am - I heard the words "recession that the housing market" as part of another news item on Radio 4. Dunno what, I was barely awake, but those words penetrated my groggy state!
So the cat is out truly of the bag and its time for all those vendors who are clinging to their properties, like barnacles to the Titanic
, to let go and face the music, like many of us have had to do! 
remember that a lot of them are clinging on by their fingernails for either A) a possible rate cut after Christmas - only likely if energy prices fall
the hope that the CGT changes are going to go ahead in April - and I imagine, that a Spring Bounce will save them The recession in the housing market bit was about Virgin's bid for Northern Rock btw. They were saying that if the housing market goes t**s up, then Virgin are going to lose money on their deal, whether they buy the shares for a 'bargain' 25p each or not. (How 25p is a bargain, seeing as the whole shebang is like the black hole of debt, I don't know.)
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December: the time to move home
Moving home in the run up to Christmas has been identified as a new boom period, it’s official! Recent statistics released by the Alliance and Leicester show that 22 per cent of all home moves take place in the 12 weeks running up to Christmas.
(Charles Church at Millbrook in Risca)
And, with 1 in 12 purchasers willing to move in December, it’s no wonder that housebuilders up and down the country are pushing forward and offering special deals for Christmas completions. At its Millbrook development in Risca, Charles Church Wales is offering Part Exchange on selected plots – an incentive which really will make it possible for purchasers to buy a new Charles Church home and be in it for Christmas, without the hassle of having to sell their existing home.
Now, I'm sure we can all spot the flaw, but... 1 in 12 moves? Hardly a boom. Perhaps 'average' would be more appropriate? Likewise the 22 percent statistic....
At least they've set us straight on why all those housebuilders are offering special deals at the moment - they're just having a Santa moment, bless their little hearts
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I think Rachel Lomax today may have peed on the Christmas of those hoping for a sudden cut. Those damn oil prices just aren't playing ball with Gordie's vision.
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Nothing wrong with Plymouth Mate, granted it was designed poorly but it is a beautiful city (apart from the city center concrete jungle) and in my experience the people are really friendly down to earth sorts. Having lived in London as well, Plymouth wins every time.
Grew up near there, and I do think it's rougher than most of London (though fewer guns- just knives) after dark. Granted, the locals are fine (though lots of the women are pretty frightening) - it's the fact that it's a haven for visiting service types (who hate each other for some inexplicable reason) that doesn't make it a good place to be. I blame the Exhibition Cider.
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I never understood why people want to live in Plymouth - cold and windswept in winter, thanks to the postwar design of the city centre that acts as a giant wind tunnel... Then there's the fights on a Saturday night down union street - why anyone thought putting the marines and sailors next door to each other down there was a good idea I'll never know. perhaps it was someone's idea of new entertainment after they banned bear baiting and dog fighting? Let's all watch the squaddies fight with paving stones? Anyway, houses there are ridiculously expensive. 74k for this? Okay, it's probably 3x single salary, but Christ...
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Hmm. problem with propertysnake is that although the sentiment is admirable, it isn't very thorough. I can list several houses locally that have been completely missed off their list. One used to be on there, which is bizarre - perhaps some agents are applying a little pressure?
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Just like to say thanks to Cells for this thread - he or she has taken a lot of stick for mooting something that most people here (self included) would not LIKE to see happen, but frankly would not surprise me in the slightest. My own thought is that the credit crunch and the fact that even a rise to 5% knanckered a fair few idiot investors / the chronically overstretched, coupled with the FTSE downturn etc and lower bonuses will spook the market so much that prices will flatline. The interesting bit will come in April if the CGT changes are kept on and the slightly smarter BTL element bale out.
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It's a mistake to add in depreciation of your house value (assuming a crash) - if you buy one that's large enough that you don't want to sell it within 8-10 years then it *should* have got its value back, based on a rough estimate from drops and regains in the last crash. Our situation is more clear cut also - rent= 1100pcm, house value approx 325,000. Our deposit is about 80k, so borrowing 245k would be £1580pcm (alliance and leicester calculator based on 25 yr repayment mortgage at a fixed rate of 5.7% or something like that) - just closed the window and can't be bothered to go back. Add in repairs and buildings insurance and you can see why we're not rushing in, especially as our eldest child is 4 and the local secondary schools are bobbins - much as I like the area, being stuck here for ten years isn't really on the cards.
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Presumably everyone who expressed even a whiff of interest in NR demanded this as a non-negotiable condition.
God, don't tell me they have a buyer? Hands up who chipped in £30 on the other thread this afternoon. It must be you - I can't see anyone rational taking on this dead dog.
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Oi, you forgot Thornton Heath, Norbury and Selhurst in your (s)hit list!
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GB: "Have you heard about my miracle economy....?"
Girl: .........................
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I don't think it is possible. If we don't see a disconnect between BoE rates and household lender rates we will continue to see fewer products available and at much tighter criteria.
My thoughts also. Either way, credit is choked off and it's good news for us. with the credit crunch it isn't like 2005 after all, which is what some people fail to see. The question is whether the crunch can last until people lose faith in bricks and mortar because prices have started to fall...
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Standard Life have just upped their standard rate, presumably in response to Libor pressure. Others will follow. Looks like that mortgage is going to get a lot more expensive soon, rather than a couple of small .25% drops taking the pressure off next year (if indeed this is possible...)
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Well, Penge and Anerley is already static, will be interesting to see what happens to Beckenham as it's a bit nicer. Not sure I'd agree that brockley rocks - Homeview is gone now (video store that was like High Fidelity come to life). what's the betting it turns into an EA??
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Update on the house I'm watching near us (5 beds, was 399K, reduced to 385k - layout okay but decorated by OAPs). Now reduced to 375k. Okay, total reduction is still less than 10 per cent (asking price) but it's been on for a year now.
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Oi, I thought there was a property shortage in the country - or are the million properties in a big chain? Now, if we can only find that elusive first time buyer, the whole thing will go through....
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Love the Roman rug in Pic No 8 strategically placed before the Roman flat-screened TV
Hilarious - hadn't thought of that. It just makes it look like the set of a 1970s porn film.
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Just to give you all a laugh, I claim my reward for finding the worst property 'development' ever. The wife was sent a press release about it today. Some self-employed interior designer', whatever that means, decioded to do a Roman theme on a five bed period terrace 'in between Croydon and Thornton heath' (yes, billing it as between the sixth and seventh circles of hell would be just as attractive).
According to the blurb, it has 'been mostly refurbished throughout to a high standard' (WTF does that mean? Did he give up the will to live halfway or what?)
Anyway, welcome to his 'fantasy world'. My favourite bits are the jacuzzi in the master bedroom which makes it look like a massage parlour, and the lovingly rag-rolled pillars next to one of the other beds that look like bad scenery from a second-form school play. £450,000? Fetch me my cheque book immediately
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Still a pretty low figure compared to the real world, though. The figures aren't so much being massaged as pummelled by a big Turkish bloke in a thong...
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SE4
Looks like it's recovering for being let to a bunch of 18 year old sharers. And the kitchen is miniscule. Prefer the other side of HF park myself - Ladywell way.
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Interested to hear other peoples view. When we were thinking of buying, we were looking at Brockley (London). On that channel four show about property, one first time buyer said he was looking around there because South East London is undesirable. I was wondering whether people think the cheaper parts will go down the same or more than the expensive parts.
Edited because I'd missed out a whole word
It's only undesirable because people get scared when there's no Tube. Anecdotally, nothing is moving much in SE26/20 now. Lots more stock on the market, though asking prices are still up on last year by about 10 per cent. Few takers - only for the really smart places. (I'm looking at 3 bed terraces / semis)
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Those "magic pants" that hold it all in?
Otherwise known as a cork? I love Dr Bubb's US price graph - it's like the line committed suicide.
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Been watching property around us SE24. Not much going on, and nicer stuff still selling though this house has so far come down a 100k! and it looks pretty nice!
Clive Rd is okay, but is this next to the esate-y new builds? In SE20 there's a lot of stock coming on and sticking on the market. One really nice place went very quickly but the rest are hanging about. A five bed near us was on for 399k for months, reduced to 385k and sold STC - then the credit crunch hit and now it's back on. I saw a big shiny suited man viewing it today (probably a developer wanting to split it into flats?). Little does he know that I'm currently serially objecting to proposals to develop the semi across the road into flats also.
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Se20 is showing 18.6% up YOY - eek! However, back in May when we were vaguely thinking of buying as we couldn't find anywhere suitable to rent and I had near given up on the HPC there were only about 12 available properties with 3+ beds in the area that weren't STC, under offer and so forth. Now there are 59 and they aren't going anywhere fast, bar the odd really good looking one. I look forward to the stats over the next 6 months, unless the BOE caves in and drops half a point.
Self Certification
in House prices and the economy
Posted
Apparently the FSA have investigated 345 firms already and have ordered some brokers to cease trading as a result. Just a teeny bit late
:angry: but I suppose it's a start.
They hid that report well, though...
http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770