Jump to content
House Price Crash Forum
Sign in to follow this  
davidhpc

Must Be Sold - Northern Terraces Getting Cheaper

Recommended Posts

I remember clearly mid 90s when ex-metro semis used to go for about £8K in the rough parts of northern cities. Could be heading back there soon?

Some cheap guides at Must be Sold Jan Auction next week.

£22K for this terrace in Lancs (lot 51) ... is it better than cash in the bank with Gordenron ordering Merv to start up the presses?

527_RochdaleRd.jpg

post-6111-1232516816_thumb.jpg

Edited by davidhpc

Share this post


Link to post
Share on other sites

A house is only as valuable as the area it's in. If the house is already in a horrible place during the boom period ask yourself how bad it's going to be during a long drawn out 10 year depression and how many decades it will take to recover in value after that. Or indeed if it's even sellable in the future.

I'd value £20k or even £10k over a house in a place I'd never want to live and whose only tenants would be disgusting benefit scroungers that would wreck the place up.

Share this post


Link to post
Share on other sites

this is real world BTL with risks and good mathematics, not miracle economics with 125% loans and new build flats, some who were doing this in the 90s cashed out as millionaires in the recent boom

gordenron is going to steal your cash through inflation and give it to bankers and scroungers anyway, time to make a move?

Share this post


Link to post
Share on other sites
gordenron is going to steal your cash through inflation and give it to bankers and scroungers anyway, time to make a move?

I never said to hold sterling. The best long term bet at the moment is gold and RMB. I think the reason so many people hate gold on this forum is because it makes the puzzle of what to hold incredibly easy so they dismiss it summararily or missguide themselves into believing it's not a good investment.

Share this post


Link to post
Share on other sites

wasnt someone posting 4k houses in estonia a few months back?

id much rather live there than up north , you get a much larger garden as well

Share this post


Link to post
Share on other sites

Can remember in Benwell in Newcastle in 2002/03 houses were going for £5k. I also remember the council selling houses for £1 (one pound) to people on the proviso that they lived there for x number of years and kept them in good order. I think they are priced around £50k - £70k now.

Share this post


Link to post
Share on other sites
I agree time to invest in BTL. You go first. :lol:

Just put an offer of 50k on a 3 bed terraced house in the town centre of a working town out west. I have similar houses renting at 475/month.

Money is better out of the bank and making money in rent.

Share this post


Link to post
Share on other sites
They can go much lower.

Put your hands up for Detroit prices.

My hands up.

Detroit prices are dropping further.

Recently one went for 25.

That's 25 dollars, or 2500 cents.

Share this post


Link to post
Share on other sites

For your interest.........Swilly / North Prospect in Plymouth Devon.

1997 asking prices on semis as low as 8500 to 9000

2008 asking prices up to 100,000 +

Unsurprisingly they are not selling. I have been wondering what the bottom of the market price will be. 8500 ? hard to believe, but when unemployment goes bad the cheap parts of all cities will be hit hardest.

Edited by bricor mortis

Share this post


Link to post
Share on other sites

In the 90s, you could by a whole street on an infamous North Hull sink estate for less then £30k!!

Three years ago, ONE of those same houses sold for £80k.

Share this post


Link to post
Share on other sites

No price falls, just stagnation. I've said it before, I'll say it again.

Sigh, I miss the bulls... especially CO, who was very good at backing up his stupidity with lots of evidence. :lol:

Share this post


Link to post
Share on other sites
I remember clearly mid 90s when ex-metro semis used to go for about £8K in the rough parts of northern cities. Could be heading back there soon?

Some cheap guides at Must be Sold Jan Auction next week.

£22K for this terrace in Lancs (lot 51) ... is it better than cash in the bank with Gordenron ordering Merv to start up the presses?

You'd probably recoup your capital in around 5 years. After that it's free money. So long as it rents. There are plenty of identical houses in better Northern towns selling for £150k+. £22k almost looks cheap.

Share this post


Link to post
Share on other sites

The cheaper the house the more you will resent the council tax levied on it

& I still say (& will still get laughed at) that there will be property with council tax higher than its 2012ish? purchase price.

I can go back to the early 60s with seaside Scottish houses at £30.

This 'every house is an investment' twaddle is not the historic norm for Britain, & it's a lesson that will be slowly & painfully learnt

Share this post


Link to post
Share on other sites
when we get to £10K, i'm in :P .

Bought my bunglaow in Chiang Mai, Thailand 3 years ago for £8500...nice area and nice weather.

As an added benefit back then £1 would buy 70 baht, now it is 48 baht. so my house has gone up to £12400 even though the price in Thai Baht hasn't moved. Still get paid in sterling and have to change it to live there so not gaining anything really. :)

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.