Crashman Begins Posted October 8, 2010 Share Posted October 8, 2010 Quote Link to comment Share on other sites More sharing options...
theonlywayisdown Posted October 8, 2010 Share Posted October 8, 2010 So Much Win! btw, where did that photo come from? Quote Link to comment Share on other sites More sharing options...
_w_ Posted October 8, 2010 Share Posted October 8, 2010 Here's one from sunny Fulham: http://www.rightmove.co.uk/property-for-sale/property-15775341.html?premiumA=true Currently at £2,000,000 Target price: £300,000-400,000 Quote Link to comment Share on other sites More sharing options...
theonlywayisdown Posted October 8, 2010 Share Posted October 8, 2010 Here's one from sunny Fulham: http://www.rightmove.co.uk/property-for-sale/property-15775341.html?premiumA=true Currently at £2,000,000 Target price: £300,000-400,000 2 mirrion!! you have got to be ******ing kidding me....... Quote Link to comment Share on other sites More sharing options...
sponge Posted October 8, 2010 Share Posted October 8, 2010 (edited) to the aurthor i really cannot for the life of me see why a house like that can be worth that, the exact same type of house is already 130-140k cheaper in the midlands, ever thought of living elsewhere i work all over the uk , just done a stint on hyde park one, and it really does amaze me how people can pay stupid money just for postcodes, london is a toilet Edited October 8, 2010 by sponge Quote Link to comment Share on other sites More sharing options...
_w_ Posted October 8, 2010 Share Posted October 8, 2010 2 mirrion!! you have got to be ******ing kidding me....... The entire area is an asylum. It will soon be as cheery as Beirut on its worst days. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted October 8, 2010 Share Posted October 8, 2010 Here's one from sunny Fulham: http://www.rightmove.co.uk/property-for-sale/property-15775341.html?premiumA=true Currently at £2,000,000 Target price: £300,000-400,000 I live in Margate which is a complete and total dump, but Broadstairs and Sandwich are very pleasant and attractive local towns and a house like that in one of the nicest parts of those towns would be priced at around £230,000, and wouldn't sell at that. In Margate it would go to market at about £160,000, and wouldn't sell here either. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted October 8, 2010 Share Posted October 8, 2010 I would also say that if you bought the house on the left, as opposed to the one on the right, that you would have to factor in a reduction of around £20,000 to get that white exterior paint stripped off, because as everybody surely knows by now, you don't paint Edwardian brickwork in Dulux. Quote Link to comment Share on other sites More sharing options...
Kyoto Posted October 8, 2010 Share Posted October 8, 2010 Four times the main earner's income, plus four times the secondary earner's income is not a reasonable mortgage to advance. It's not reasonable, but two wage earners is a socio economic trend that I can't see ever really unwinding. Even as a bear, this puts a bit of a floor under house prices IMO. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted October 8, 2010 Share Posted October 8, 2010 £190k if you're crap at haggling. There will be 10-20% of available stock who will be DESPERATE. £150k more like if you know what you're doing. Good point: buy from a desperate seller. I was going to remind the OP that sold prices are now, on average 7 to 8% below asking price. So, that house is already at 230ish. I think prices may fall around 10% until Feb/March. Almost 190k already. Plus your point: find a desperate seller, and the 190k cold be found in 6 months time. The new question becomes: Would Feb/March be a good time to get a 10 years fixed? I would like to hear your opinion on it KB. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted October 8, 2010 Share Posted October 8, 2010 It's not reasonable, but two wage earners is a socio economic trend that I can't see ever really unwinding. Well, that's women's fault for burning their bras in the 60's. They demanded the right to work, and they ended up with the obligation to work. Sow the wind, reap the whirlwind. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted October 8, 2010 Share Posted October 8, 2010 Four times the main earner's income, plus four times the secondary earner's income is not a reasonable mortgage to advance. 4x combined is insane - 4x husband plus say £30,000 deposit maybe; anything the wife makes will end up going on childcare and other children costs. Is it really insane? Say 180k price, allowing for a 25% deposit, means a £135k mortgage is payments of £880pm over 25 years at 6% interest. Is that honestly "insane" for a family bringing in 45k pa plus child benefits etc? I don't think so. Interesting to hear a valuation in terms of who you would expect to live there earnings wise... especially as scottbeard is very close to the mark. Why thankyouverymuch. It's a very interesting subject - how much SHOULD houses be selling for post-HPC. That house you pictured will never ever sell for 80k, despite Harry Monk's protestations, though it is quite possible that if it was elsewhere in the UK than the South East it could do. But there will always be rich and poor, so I always think of houses in terms of where on the greasy pole of society I would expect the owner of XX place to be, and think then what he or she could afford. The idea that all couples should/will be owning great big detatched houses based on 3.5 x one minimum wage income is as irrational as the idea that property prices only ever go up. It's not detached Oh come on, it's got next door's garage attached, that's all! It's detached. Or are you just goading me into using the hideous phrase "link detached" on this website? Quote Link to comment Share on other sites More sharing options...
macfarlan Posted October 8, 2010 Share Posted October 8, 2010 There's only two pictures in this thread of pictures. Quote Link to comment Share on other sites More sharing options...
boony Posted October 8, 2010 Share Posted October 8, 2010 This is around the corner from us and is identical to the one we're currently renting. It's up for £295,000. Crazy price for the area IMO (Guisborough, Cleveland) but it is quite a nice part of the area. I've been hoping to pick one of these up for about £200k, but after almost 2 years renting, prices have hardly moved. Hope this is the turning point... Quote Link to comment Share on other sites More sharing options...
Venger Posted October 8, 2010 Share Posted October 8, 2010 It's not reasonable, but two wage earners is a socio economic trend that I can't see ever really unwinding. Even as a bear, this puts a bit of a floor under house prices IMO. Jobs in a lot of sectors are being taken out with the unwinding of easy credit conditions and austerity measures. There might be two willing wage earners for many households but fewer job opportunities out there. At the type of pay levels thought of as common place today. I suspect the changes playing out will collpase through your price floor. Sorry theonlywayisdown. Interesting question which I'm still thinking about. Quote Link to comment Share on other sites More sharing options...
Roost Posted October 8, 2010 Author Share Posted October 8, 2010 This is around the corner from us and is identical to the one we're currently renting. It's up for £295,000. Crazy price for the area IMO (Guisborough, Cleveland) but it is quite a nice part of the area. I've been hoping to pick one of these up for about £200k, but after almost 2 years renting, prices have hardly moved. Hope this is the turning point... Quote Link to comment Share on other sites More sharing options...
exiges Posted October 8, 2010 Share Posted October 8, 2010 (edited) 27 acres of Northamptonshire, 5000 sqft of house. Currently £1.15m, I'd pay £780k Only 3 acres, but 6000sqft, and has plenty of character, up for £1.4m.. £950k would do it Edited October 8, 2010 by exiges Quote Link to comment Share on other sites More sharing options...
MrB Posted October 8, 2010 Share Posted October 8, 2010 I love a good photo thread on a Friday so I thought I would see what everybody's specific house price crash expectations (are, timescale and value) are in pictures... A pointless excercise maybe but I'm just curious in what you are all realistically expecting to pan out over the next couple of years, and this may make an intersting thread to refer back to in future; to assess the accuracy of predictions made by posters here. for example, when the time is right I am looking to buy a very standard 3 bed detached like the one pictured below... This is located in Surrey, currently advertised at £260,000 I'm expecting (hoping) to pick up a similar property for around £190,000 before 2012 rightmove ad would love to see expectations of other HPC posters... R Cheap, nasty, small, overpriced box house. Even at £140,000. Even at £100,000. The design of that house seems fine to me, and i don't see how the photo alone tells you it has "shoddy" construction. If your ambition is bigger than a nice 3 bedroom detached house in Surrey, frankly you won't find much sympathy from 99% of the population here. :angry: It's never edifying to see 'ambition' and 'own an x bedroom [detached] house' in the same sentence. Please someone shoot me if my 'ambitions' amount only to owning a few bricks and a tiny garden in this **ked up land. Quote Link to comment Share on other sites More sharing options...
Kyoto Posted October 8, 2010 Share Posted October 8, 2010 (edited) ^ disagree Mr B. Nobody has a right to be a big posh detached house in a great area. What we do have the right to is for the average man to own the average house without a life of debt slavery. The poster getting a house like the above for £100k is what this site is about. Anybody complaining about the cost of houses over £750k has no right IMO. Just buy one for £300k and retire, rather than stoking the madness and feeding the bankstas Edited October 8, 2010 by Kyoto Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted October 8, 2010 Share Posted October 8, 2010 http://www.propertyindex.com/RS4021487 395,000 > 225,000 would be nice Quote Link to comment Share on other sites More sharing options...
Meat Puppet Posted October 8, 2010 Share Posted October 8, 2010 I love a good photo thread on a Friday so I thought I would see what everybody's specific house price crash expectations (are, timescale and value) are in pictures... A pointless excercise maybe but I'm just curious in what you are all realistically expecting to pan out over the next couple of years, and this may make an intersting thread to refer back to in future; to assess the accuracy of predictions made by posters here. for example, when the time is right I am looking to buy a very standard 3 bed detached like the one pictured below... This is located in Surrey, currently advertised at £260,000 I'm expecting (hoping) to pick up a similar property for around £190,000 before 2012 rightmove ad would love to see expectations of other HPC posters... R I've been spoiled by living most of my life elsewhere especially in the US. That looks like something an itinerant Mexican farm worker might aspire to. How many square foot is that? If the average street cleaner or shop assistant in Surrey couldn't afford it then it is too expensive. Quote Link to comment Share on other sites More sharing options...
Pole Posted October 8, 2010 Share Posted October 8, 2010 I've been spoiled by living most of my life elsewhere especially in the US. That looks like something an itinerant Mexican farm worker might aspire to. How many square foot is that? If the average street cleaner or shop assistant in Surrey couldn't afford it then it is too expensive. For all those decades of being one of the richest countries in the world, most people of Britain have to put up with this hobbit-style accomodation. And yet there are families in this country who own 100s of hectars and didn't have to even lift a finger in their lives... All they needed was to train the peasants to enjoy their servitude. Quote Link to comment Share on other sites More sharing options...
veryveryterry Posted October 8, 2010 Share Posted October 8, 2010 I love a good photo thread on a Friday so I thought I would see what everybody's specific house price crash expectations (are, timescale and value) are in pictures... A pointless excercise maybe but I'm just curious in what you are all realistically expecting to pan out over the next couple of years, and this may make an intersting thread to refer back to in future; to assess the accuracy of predictions made by posters here. for example, when the time is right I am looking to buy a very standard 3 bed detached like the one pictured below... This is located in Surrey, currently advertised at £260,000 I'm expecting (hoping) to pick up a similar property for around £190,000 before 2012 rightmove ad would love to see expectations of other HPC posters... R OK, everyones had a good giggle at the Barratt home. An agonising question for me is, do I sign another years rental agreement ?? Quote Link to comment Share on other sites More sharing options...
Pole Posted October 8, 2010 Share Posted October 8, 2010 OK, everyones had a good giggle at the Barratt home. An agonising question for me is, do I sign another years rental agreement ?? By the look of things - your patience should be well rewarded. Quote Link to comment Share on other sites More sharing options...
theonlywayisdown Posted October 8, 2010 Share Posted October 8, 2010 I've been spoiled by living most of my life elsewhere especially in the US. That looks like something an itinerant Mexican farm worker might aspire to. How many square foot is that? If the average street cleaner or shop assistant in Surrey couldn't afford it then it is too expensive. hear hear +1 Quote Link to comment Share on other sites More sharing options...
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