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Bootsox

Back To Reality?

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Came across the property below, not the most salubrious of areas but (from the pictures) looks nicely done out.

Point is, at £39,950 I feel that we are finally getting down to what are fairish and sustainable property valuations.

Property represents traditional FTB fodder for a normal working person. Nothing stupid, but 5% deposit + mortgage based on 2.5 times a £15/16k salary.

http://www.rightmove.co.uk/property-for-sale/property-16150242.html

Edited by Bootsox

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Fixed!

ta...is that a staircase or a ladder?...looks like a death trap if you are carrying a kiddy up or down.

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Technically, that is in Oswaldtwistle, I think. So you get a cheap house and an amusing address.

That is a sensible price - good to see some normality returning in the north west. Prices round my mother's way (village near Rochdale) still ridiculous, although not as bad as they were.

Nethouseprices suggest that this is around the average 2004 selling price for this street. Couple of places sold for 75k to 85k in 2007. So 50% drop, right there. Heartening to see it.

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£40k for a whole house? Wow.

Why does everyone feel the need to block up perfectly good fireplaces? The main feature of the house and it's covered up!

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Key features - Absolute bargain.

So why hasn't it sold yet?

(1) it is fair not cheap for the area - poor area, high unemployment etc

(2) we are in house price crash territory - most likely buyers already have debt overhangs they need to pay down first - essentially forced-non-buyers

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  • 140 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%



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