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Frank Hovis

£30K 2 Bed Terrace

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On the outskirts of Newcastle and I am sure a local will pop up with how a bad an area it is, but even so. Looks a perfect;y decent house. Going to auction (hence buyers premium) but has dropped down from £60k.

This to me is a reasonably priced house that anybody on an average wage could purchase. Off street parking as well. Like HPI never happened.

Go on, tell me what's wrong with it.

http://www.mouseprice.com/property-for-sale/ref-2930303

Castle Terrace, Ashington, NE63

Guide price £30,000, 2 bedrooms, Terrace, Available

# Two Bedroom

# Terrace House

# Two Reception Rooms

# Double Glazing

# Yard To Rear

Description:

BUYERS PREMIUM REQUIRED. For full terms and conditions please contact the Auction department on 0845 146 1582.

We are delighted to offer for sale this two bedroom terrace house situated on Castle Terrace, Ashington. The accommodation briefly comprises of; Entrance hallway, lounge, dining room, kitchen, first floor landing, two bedrooms and bathroom/w.c. Externally there is yard to rear with off street parking. We highly recommend early viewings to fully appreciate what is on offer.

Listing history:

Asking price Date

£59,950 05-12-2009

£55,000 05-03-2010

£50,000 15-04-2010

£35,000 07-05-2010

£30,000 30-05-2010

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I am starting to feel like 'the crash has happened'

houses where I am now (North West Leeds) and where I used to live (Norwich golden triangle) seem to be at 1999/2000 values plus inflation. now waiting for the undershoot.

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Wow, thanks for those additional examples. Looks like the crash has happened and I missed it!

Now for the march south.

think more central/desirable places are playing catch up - or just overp'riced not selling

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Wow, thanks for those additional examples. Looks like the crash has happened and I missed it!

Now for the march south.

I think the way to make sense of this is to see the UK population divided in two camps. One, the wage earners making up 90% of the population with falling real wages and living standards, the other 10% or fewer see their living standards ans share of income and wealth growing.

On that basis most of the housing market should go down while the top 10% goes up. Since the top 10% is higher priced, its rise will have a disproportionate impact on average house prices nationally. The same skew is becoming clear in consumer spending for example, with discretionary spending going up (the winners) while non-discretionary spending going down (the losing majority).

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I am starting to feel like 'the crash has happened'

houses where I am now (North West Leeds) and where I used to live (Norwich golden triangle) seem to be at 1999/2000 values plus inflation. now waiting for the undershoot.

I look forward to the local paper on a thursday where are i am in east yorkshire , the amount of 'reduced' you see in the property section is growing every week and new stuff is coming on the market at prices cheaper than these people are 'reducing' theirs too.

Where i live , a very working class town , there is huge unemployment levels but there always has been , but the proximity of Power Stations , Docks and Motorway network mean you can get a very well paid job i.e.30k a year which would buy you a house in 18 months , that 3 years ago would have cost near 100k.

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Bound to be a bit down at heel. But, wow. I didn't know these sort of falls had already happened.

I used to tell people about postgrads being able to buy £10k houses in northern towns on 3x grant income and they didn't believe me. Well these are houses you can get for the price of the average student loan. Your choice - a house or a media studies degree.

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I am starting to feel like 'the crash has happened'

houses where I am now (North West Leeds) and where I used to live (Norwich golden triangle) seem to be at 1999/2000 values plus inflation. now waiting for the undershoot.

Not sure you're right on that. In the "Golden Triangle" in Norwich houses are still in short supply and prices are holding up pretty well unfortunately. We bought in 1999 and the current "value" is pushing 3x that now. In fact a 2/3 bed terrace has pretty much followed the countries average house price (currently around £170,000).

I'd welcome a return to 1999/2000 prices, but then I am looking to upsize. Suffice to say we are still a long way from 10 years ago but I have a feeling things may start heading that way (although I've had that feeling for about 3 years now and the wait is a little tiresome <_< .

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On the outskirts of Newcastle and I am sure a local will pop up with how a bad an area it is, but even so. Looks a perfect;y decent house. Going to auction (hence buyers premium) but has dropped down from £60k.

This to me is a reasonably priced house that anybody on an average wage could purchase. Off street parking as well. Like HPI never happened.

Go on, tell me what's wrong with it.

http://www.mouseprice.com/property-for-sale/ref-2930303

Ha I could buy two of those with my deposit! And still have money left over to do them up! That would cost 5 times that here in Essex!

Edited by Pent Up

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Used to live near there in the 90s, it's a bit rough but there's worse places. It's about 15 miles away from the city and near the sea, there's a seaside caravan park about a mile away and as long as you ignore the power station and aluminium plant to the north it's pretty much in the country.

Ex - pit houses, they sold for about 6-10k last crash so 30k is a good start this time :). (the coal mine is of course closed and is a museum now).

Just edited to add there is nothing wrong with it - except they will probably be even cheaper next year.

On the outskirts of Newcastle and I am sure a local will pop up with how a bad an area it is, but even so. Looks a perfect;y decent house. Going to auction (hence buyers premium) but has dropped down from £60k.

This to me is a reasonably priced house that anybody on an average wage could purchase. Off street parking as well. Like HPI never happened.

Go on, tell me what's wrong with it.

http://www.mouseprice.com/property-for-sale/ref-2930303

Edited by Kilham

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Guest Steve Cook

On the outskirts of Newcastle and I am sure a local will pop up with how a bad an area it is, but even so. Looks a perfect;y decent house. Going to auction (hence buyers premium) but has dropped down from £60k.

This to me is a reasonably priced house that anybody on an average wage could purchase. Off street parking as well. Like HPI never happened.

Go on, tell me what's wrong with it.

http://www.mousepric...ale/ref-2930303

Quite possibly nothing. You can pick up a decent house for 50k in many parts of the north east.

The tricky bit is geting a job

and keeping it

Edited by Steve Cook

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Ashington isn't Newcastle, it's semi-rural Northumberland. There are some decent places up there.

Just wondering if it might be suffering a blight from being in or adjacent to The Liar's parliamentary constituency :wacko:

Oh, and if a house I wanted were £30k, I'd not worry about it losing value from there ....

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Not sure you're right on that. In the "Golden Triangle" in Norwich houses are still in short supply and prices are holding up pretty well unfortunately. We bought in 1999 and the current "value" is pushing 3x that now. In fact a 2/3 bed terrace has pretty much followed the countries average house price (currently around £170,000).

I'd welcome a return to 1999/2000 prices, but then I am looking to upsize. Suffice to say we are still a long way from 10 years ago but I have a feeling things may start heading that way (although I've had that feeling for about 3 years now and the wait is a little tiresome dry.gif .

seen 3 bed terraces on Gloucester Street and surrounding for 90k recently on rightmove etc

Edited by Si1

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seen 3 bed terraces on Gloucester Street and surrounding for 90k recently on rightmove etc

having said that I can't find em now, maybe there was a dip or I got something wrong...

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Go on, tell me what's wrong with it.

The clue is in the description:

BUYERS PREMIUM REQUIRED

There was a discussion on here about this last week. Basically, there's more money you gotta pay on top of that £30k.

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yep - I noticed when a load of propertioes on nethouseprices - looking like 2/3 bedders - came on as sold in early summer 2009 - 90k and below

some of them have been flipped for sizeable profits since

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On the outskirts of Newcastle and I am sure a local will pop up with how a bad an area it is, but even so. Looks a perfect;y decent house. Going to auction (hence buyers premium) but has dropped down from £60k.

This to me is a reasonably priced house that anybody on an average wage could purchase. Off street parking as well. Like HPI never happened.

Go on, tell me what's wrong with it.

http://www.mouseprice.com/property-for-sale/ref-2930303

is it in a nasty area noone wants to live?

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Whats wrong with it?

It is sitting at £30 000 now in the online auction, it will probably go higher before/during the real auction.

This is not a £30 000 2 bed terrace, why do people pretend auction guide prices are actual prices?

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Whats wrong with it?

It is sitting at £30 000 now in the online auction, it will probably go higher before/during the real auction.

This is not a £30 000 2 bed terrace, why do people pretend auction guide prices are actual prices?

Because this one had dropped down from £60k. So it will probably go for over £30k but it doesn't need to be lots more.

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In Northamptonshire, there used to be nothing below 100K..except shared ownership rubbish.

Now...today...as of 5 mins ago...well...what do you think, 50, 100, 150....

Bit higher.....450+ !!!!

What HPC...this HPC !!!!

p.S..

Edit, cheapest non shared ownership is this one I think:

http://www.rightmove.co.uk/property-for-sale/property-27764288.html?premiumA=true

"By order of the mortgages in possession, we would advise that an offer has been made for the above property in the sum of £44,000"

And a two bed flat in a pretty bad area up at £50K

http://www.rightmove.co.uk/property-for-sale/property-16271904.html

That's about back to 1997 prices now :lol::lol::lol::lol:

Edited by TheCountOfNowhere

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Whats wrong with it?

It is sitting at £30 000 now in the online auction, it will probably go higher before/during the real auction.

This is not a £30 000 2 bed terrace, why do people pretend auction guide prices are actual prices?

it is the guide price, so it may be set a bit low on purpose, on the other hand, the house could end up selling still lower than that.

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In Northamptonshire, there used to be nothing below 100K..except shared ownership rubbish.

Now...today...as of 5 mins ago...well...what do you think, 50, 100, 150....

Bit higher.....450+ !!!!

What HPC...this HPC !!!!

p.S..

Edit, cheapest non shared ownership is this one I think:

http://www.rightmove.co.uk/property-for-sale/property-27764288.html?premiumA=true

"By order of the mortgages in possession, we would advise that an offer has been made for the above property in the sum of £44,000"

That's about back to 1997 prices now :lol::lol::lol::lol:

So the HPC HAS happened, we were just looking in the wrong place by following the indices. Low end properties are toast because of the lack of FTBs and that will now start rippling up when people become STBs and TTBs.

I love the smell of napalm in the morning, smells like - Victory!

napalm-1.jpg

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So the HPC HAS happened, we were just looking in the wrong place by following the indices. Low end properties are toast because of the lack of FTBs and that will now start rippling up when people become STBs and TTBs.

I love the smell of napalm in the morning, smells like - Victory!

napalm-1.jpg

Yes it has happened....it's just not shown up on the indexes because the FTBs cant afford to buy.

The indexes are based on middle class idiots paying way over the odds for "nice houses".

They have believed the hype and they have thrown their hard/easy earned money away.

When people can afford to buy again then the indexes will show the reality of the situation/

Just been looking through the 450+ propertys lots of shared ownship still and some really crappy places to live. 10 years ago you could get a great house in a nice are for that money.

Edited by TheCountOfNowhere

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  • 259 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% +
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      • Even
      • up 2.5%
      • up 5%



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