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Can Anyone Explain Why House Prices Will Not Fall By 75% From Peak?

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

1. The Pink Pound

2. Stupidity

3. Brighton has an overpaid and overstaffed public services economy

4. Fatboy Slim does fcking good concerts

5. Not only cowboys in the US have big moustaches.

6. Its different this time

7. I have never felt like this before

8. Brighton is host to the Labour Party Conference

9. Brighton has cheap fish and chips

10. Brighton has late licences for drinking

11. Brighton is only two hours standing on a train from London

12. Brighton is host to the world championships for Ping Pong, Draughts, and Cluedo

13. Simon Cowell's mother lives in Brighton

14.................and last but not least, you can get a shag for less than the price of a double sausage and egg Mc Muffin Meal, and Coke is far cheaper in Brighton than London.

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

Inflation?

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1. The Pink Pound

2. Stupidity

3. Brighton has an overpaid and overstaffed public services economy

4. Fatboy Slim does fcking good concerts

5. Not only cowboys in the US have big moustaches.

6. Its different this time

7. I have never felt like this before

8. Brighton is host to the Labour Party Conference

9. Brighton has cheap fish and chips

10. Brighton has late licences for drinking

11. Brighton is only two hours standing on a train from London

12. Brighton is host to the world championships for Ping Pong, Draughts, and Cluedo

13. Simon Cowell's mother lives in Brighton

14.................and last but not least, you can get a shag for less than the price of a double sausage and egg Mc Muffin Meal, and Coke is far cheaper in Brighton than London.

You forgot the candy floss.

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Inflation?

Inflation of what ? Wages ? or other goods ?

If that house was last at £67,500 in 1998 then there has been no real inflation since then .. even things like petrol are still only a couple of pence more expensive .. the only inflation really has been HPI ..

Wages are more difficult .. in the job I was doing in 1998 the daily rate has fallen by almost 50% .. other industries may be different, my sister's job paid £18,500 in 1998 .. it now pays £24,500 but now has unpaid overtime attached ..

Can anyone think of anything that would make an upward pressure on inflation ..

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Inflation of what ? Wages ? or other goods ?

If that house was last at £67,500 in 1998 then there has been no real inflation since then .. even things like petrol are still only a couple of pence more expensive .. the only inflation really has been HPI ..

Wages are more difficult .. in the job I was doing in 1998 the daily rate has fallen by almost 50% .. other industries may be different, my sister's job paid £18,500 in 1998 .. it now pays £24,500 but now has unpaid overtime attached ..

Can anyone think of anything that would make an upward pressure on inflation ..

Devaluation of sterling.

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the £202,500 difference

The moral authority of the NAEA?

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You forgot the candy floss.

I was going to add that along with the proposed redevelopment of the pier. I have seen the drawings of the proposed new pier and its going to be like Dubai..................................Maybe Dubai is not the best comparison in this climate.

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

your reasoning is flawless

go to the head of te class right now

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Why would anyone pay more £67,500 for a such a small and unattractive house?

Because somebody else will.

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I was going to add that along with the proposed redevelopment of the pier. I have seen the drawings of the proposed new pier and its going to be like Dubai..................................Maybe Dubai is not the best comparison in this climate.

I think if Labour get in again it would be possible to turn seaside towns into arrid deserts, yes.

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Which would account for the £202,500 difference in our figures ?

The funky Budha and the Honey Club are offering cheap drinks before 2am and a discount on parties of over five, and free champagne to Hen Parties on Friday and Saturday Nights.

Thats for sure going to make Brighton the place to invest in property over the next five years. In addition Brighton is going to be a big place for day trippers come the Olympics, so add another 25% on property prices.

Brighton is the sattelite of London, Culturaly significant, Happening, Funky Offices, Sexy Vibes, Sureal Slendour, Cool Coffeee shops that only sell fair trade coffee, students on the game to fund their student fees, add another 25% to property prices.

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I am currently saving up, and live in hope that Wayne Hemingway will build some beach huts in Brighton. I have 600k saved already, but wish to save a little more in order that I can afford a one bedder hut, as the studio huts are a pain having to pull the beds down off the wall in the lounge on hinges every night.

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Because somebody else will.

With what ? I mean if you had £67,500 cash you could put a deposit on a nice house .. if you need a mortgage to buy it would need £18,000 deposit ..

The idea that someone else will pay more than you with a 100% loan is possible .. but if they have to get up 1/4 of the money themselves .. I think less likely ..

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Brighton house prices fell by 50% in the last recession.

They'll fall again. Penty of mewing and debt round here. Plenty of chancer-ish boom years businesses going under. Public spending cuts will decimate all those cushty public sector jobs . . .

May have to wait a couple of years for any noticeable effect thanks to low interest rates etc..

As for Brighton house prices increasing because of the Olympics :lol::lol: HILARIOUS STUFF!

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Brighton house prices fell by 50% in the last recession.

They'll fall again. Penty of mewing and debt round here. Plenty of chancer-ish boom years businesses going under. Public spending cuts will decimate all those cushty public sector jobs . . .

May have to wait a couple of years for any noticeable effect thanks to low interest rates etc..

As for Brighton house prices increasing because of the Olympics :lol::lol: HILARIOUS STUFF!

Yeah .. you need an "Ironyometer" to read this thread ..

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

More like £45k tops....

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1. The Pink Pound

2. Stupidity

3. Brighton has an overpaid and overstaffed public services economy

4. Fatboy Slim does fcking good concerts

5. Not only cowboys in the US have big moustaches.

6. Its different this time

7. I have never felt like this before

8. Brighton is host to the Labour Party Conference

9. Brighton has cheap fish and chips

10. Brighton has late licences for drinking

11. Brighton is only two hours standing on a train from London

12. Brighton is host to the world championships for Ping Pong, Draughts, and Cluedo

13. Simon Cowell's mother lives in Brighton

14.................and last but not least, you can get a shag for less than the price of a double sausage and egg Mc Muffin Meal, and Coke is far cheaper in Brighton than London.

You forgot

dogging under the pier,

a well developed crack and heroin abusing community,

a regular smell of rotting fish on the seafront,

all the fighting chavs from Crawley on a friday night,

and the pompous tw@ts who are forever going on about how Brighton is soooo much cooler than London.

Anymore?

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

Supply and demand.

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You forgot

dogging under the pier,

a well developed crack and heroin abusing community,

a regular smell of rotting fish on the seafront,

all the fighting chavs from Crawley on a friday night,

and the pompous tw@ts who are forever going on about how Brighton is soooo much cooler than London.

Anymore?

Everyone has to buy, as they are afraid if they rent their Landlord could well be Nicky Hoogstraten, also Chris Eubank drives a truck up and down the seafront contributing over £600m to the tourist industry as people come from all over Europe to see him...............add another 10% premium.

Edited by laurejon

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1. The Pink Pound

2. Stupidity

3. Brighton has an overpaid and overstaffed public services economy

4. Fatboy Slim does fcking good concerts

5. Not only cowboys in the US have big moustaches.

6. Its different this time

7. I have never felt like this before

8. Brighton is host to the Labour Party Conference

9. Brighton has cheap fish and chips

10. Brighton has late licences for drinking

11. Brighton is only two hours standing on a train from London

12. Brighton is host to the world championships for Ping Pong, Draughts, and Cluedo

13. Simon Cowell's mother lives in Brighton

14.................and last but not least, you can get a shag for less than the price of a double sausage and egg Mc Muffin Meal, and Coke is far cheaper in Brighton than London.

all reasons above would value a house at about £500

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

Why did she buy it , and why do you live in a shed?

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That a house in my sisters road had sold for £270,000 at the peak ..

She lives in a rather terrible two bedroom terrace house in Brighton .. No garden or off street parking (and very little chance of parking on the street).

This morning I was thinking about this ..

Why would anyone pay more £67,500 for a such a small and unattractive house?

I could not think of an answer ..

Someone enlighten me ..

My reasoning is similar where I live. Without looking at the housing price, I think 'how much would I reasonably want to pay for that house?'. In most cases it's half of the asking price.

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