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House Price Crash Forum


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About Lobster

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  1. Everywhere i look in Cardiff (where we live) I see cranes, and most of them are putting up apartments (or shops). It seems to me that this is fine for singles and young couples but we're a young family and now need a house. I suspect that all those living in these shiny new apartments will be in our position in a few years time but who is building houses these days around Cardiff? Hardly anyone! And those they do build are very expensive. What is also striking about the area where we live is the dire lack of community facilities, schools, surgeries etc. There's no attempt at all to build a long lasting community. Ok, there is a small school and pubs but this won't suffice if everyone living in these apartments starts to have families. Is this an indictment on society? What is sad is the local authority don't seem to be in a position to force the developers to build communities.
  2. We've been thinking about buying a holiday home in South Africa for a while as my wife and I both love it there and have family and friends there but thought I would get some comments from the forum on where and what kind of property to look at. We both love Durban and Cape Town but we also like the Garden Route.
  3. Buy to let has caused a large part of the house price boom IMO. Far too many people jumping on the bandwagon fueled by TV shows that make it look easy. There is still a huge demand for property but they demand cheap property. There is a desperate shortage for affordable property so people are forced to either rent or stretch themselves to houses they can't afford. This keeps the demand for rented property up (although rents seem to be coming down) and house prices high. Part of the problem is that there are few green field areas for developers to build on so they're now turning to brown field which is expensive to clean up or expensive small plots of land. Because land is now so expensive developers are building apartments rather than houses which again forces prices to stay high (if not go up). So, for the time being, i can't see a house price crash coming soon. A levelling off, maybe, but not a crash.
  4. "Their five-bedroom detached house in Coventry may be on a pretty tree-lined road near the city centre, good schools and a railway link to London, but the property has languished on the shelf for more than six months." Says it all really. There are some really nice rural areas around Coventry so if you can afford £700K+ why would you want to live near the city centre? I lived in Coventry for 4 years and have no plans to ever move back!!
  5. You're talking about one of the oldest cultures in the world here. You can't just dismiss it because only a small number of people speak the language. Nobody in Wales wants to see the language die out so they have to find ways to protect it. Its a constant battle between growth and the threat to our heritage and culture. These smaller communities need protecting as there are few of them left in the UK any longer.
  6. If we moved, we would probably go to Durban in South Africa. The crime may be high there but the lifestyle is excellent especially if you earn pounds.
  7. I've just been using the new Tesco property website http://www.tescopropertymarket.com/. Its an interesting site but i'm not sure about the house price calculator. When i tried it out on my apartment it came back with a price that was 20% higher than what a local estate agent told us earlier in the year. With all the building going on around here i would expect our price to stay level or even drop. Does anyone know what they base their calculations on?
  8. Just like the UK its all about location when investing overseas. If you buy a property in an area that will rent without any much trouble then you will at least have regular income from your property. The problem for overseas investors is that they don't know the local area well and have to rely on the realtor for the information on where to invest. Do your research and try and find the areas where you're more likely to get regular rental. If you're into short stay rent then look for the tourist attractions. If you're after long term rental then go for property that's near large business or universities.
  9. Looks to me that the only people doing well in Dubai property are the crane drivers!
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