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House Price Crash Forum


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About beesting

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  1. Decided to take the plunge and bought my first property in Tilehurst with a 15% deposit, managed to get a 3 bed semi in a good area for £200k . There are now some good properties on the market in this area
  2. just picked up the local property rag for Reading on my way home today as i am looking to move in to another rental. the headline was 'Now's The Time To Buy', well according to the 5 leading estate agents lol, reading on they say they have never had such a full portfolio's and you can get whatever you are looking for, just for a mere 10% deposit, a one bed new build flat can be yours starting at a mere £175k!! looks like the crash is coming to my town and its gotta be big with these sort of prices, a very good one bed flat rents for about £700-£800 a week i think. to me the sums do not add up for BTL, not by a long way, nor for 1st time buyers, earning 40-50k a year (without lie to buy) would you buy a friggin one bed flat looking out onto crap? haha the party is so over in Reading.
  3. RG1 average property value £193295 Price Earnings Ratio in this postcode district is 6.9. average wage £28463. more significant I find is...... The largest source of work in this area is Real Estate 24.9% of workers, hmm seems I could have a front row seat , I better be careful what I say in the pub in the near future
  4. This is from rightmove website:- Earley 1 bedroom flat £130,000 THIS IS AN URGENT REQUIREMENT DUE TO THE INCREASE OF FIRST TIME BUYERS REGISTERING WITH US WE REQUIRE MORE PROPERTIES TO OFFER THEM IN AND AROUND READING. IF YOU ARE ON THE MARKET AT THE MOMENT OR CONTEMPLATING A MOVE THEN CONTACT THE THINKING PERSONS ESTATE AGENTS ON 01189 66 00 55 FOR YOUR FREE... More details, photographs, full brochure and map available Save property Marketed by The Flatman Partnership, Reading. Telephone 0118 9660055.
  5. http://newsvote.bbc.co.uk/1/hi/business/7099083.stm
  6. I rent a flat from a company but am curious as to the nature of the company and how it would affect the overall scheme of things. To me it looks like they may be run by the goverment, it looks like a mix of rented property/social housing/part buy part rent/nursing homes. http://a2housing.dsuk3.co.uk/ http://www.housingcorp.gov.uk/server/show/ConRSL.1728 If companies like this are subsiduary companies to the goverment whom are buying up stock and privately renting them out and selling them on crazy part rent part buy schemes. How is this going to end if they are goverment run and they can still buy up stocks like crazy and we all know the goverments ambitions to build build build? ("A2 has a stock of over 15,000 homes and with more homes in the pipeline, is one of the top developing Housing Associations in the UK." I rent privately off one of their trading companies paying the going rate for rentals in my area) Trading companies include Airways New Homes, T5 Homes and Kingsbridge Residential. To me it looks like the goverment is trying to squeeze every penny from people like myself who work hard and cannot afford to buy but need somewhere to live. Their part buy part rent schemes seem to be more appealing , someone please tell me I am reading this all wrong or explain how it will all go wrong despite things like this going on. Am I in a BTL but owned by a Ltd company? What does that mean, if they go tits up where does that leave me (the goverment will probably bail them out anyway)?
  7. haha sounds just like me, mum and dad begged me to go to further education and uni, i must do it else i will never get anywhere in life. so i did, left uni in 97 nice degree under my belt (engineering). then it came to finding a job, could not find anyone to employ me, wanted experience. so I took a temp job and kept looking, got nowhere. By now my old schoolfriends were earning twice as much as me as they had been in work for years. I got a permanent job in engineering in 2000 earning 15k a year, managed to get this up to 20k by the time i got laid off in 2003. tried to find another job in my profession but kept finding the jobs had mostly moved abroad (Mechanical Engineering) I gave up on the industry and went to work in a call centre collecting debt (earning more money!!). i am now studying credit management as decided engineering is dead in the UK and the way forward is in other peoples debts. Why oh why did I not leave at 16 and learn a trade!
  8. what I am saying is that there is more oil being discovered than what is being used. of course oil fields deplete, like anything the more you use the less there is. The biggest oil field by far is in a mountain in southern Iraq, the reason we really went to war, this lake is geographically higher than the land surrounding (drill a hole and it poures out). I agree in some respects that oil is depleting in the west, but for every oilfield that runs dry in the west another 2 are being discovered in the east (just an analogy, probably not as high as 2:1 but still more). This equates to more and more oil moving to the east which in turn causes panic in the west as this in turn means that more power is moving easterly. I believe stories such as this are promoting renewable energies and trying to keep global supremacy in the western countries such as the UK and the US.
  9. I don't believe a word of this. There is more untapped oil reserves now than at any time in history , sure they would like us all to believe this is the case but it isn't. Its always a great excuse for the big boys to cream more cash from everyone by printing such rubbish.
  10. If anything rents are coming down in my area , my contract is up for renewal next month and the landlord wants me to sign for another year at the same price. looking into this I found there are 2-3 times the number of properties similar to mine on the market and many are below what I am paying now. Been renting for 5+ years now and really sick of moving and losing a large chunk of my deposit every time so will stay put for the sake of saving 50-100 a month. oh and my rent is 800 a month for a 2 bed exec if thats what these tiny boxes are called. I have a colleague at work who has a BTL and they just had to drop their rental income by 250 quid to get it rented I live in Reading, apparently the fastest growing town in the country . all I see growing is thousands of flats going up, literally . Many of the offices in the area are empty and have been for quite some time so the only growth is flats, I have never seen anything like the amount being thrown up. Rents are not going up here for quite some time as there are already alot more properties than renters.
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