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Two houses. One for £140K

The other for £165K.

I can tell you that the first is in a far better location than the second (on a cul de sac as opposed to a main road), and looks more nicely done out. The latter has no chance of selling as long as the former is on the market.

I am starting to see houses that are sniffing at the top end of being fair value. We need another 25% drop for an actual market to exist (you know, with a range of houses actually selling) but the days of believing houses were marching forever away from first time buyers are over.

As an aside... HPC question - what do you think a house bought for £62K in '98 would be worth now, adjusted for inflation?

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Peterborough, a lot like Northampton seems funny in that you can pay twice as much for practically the same house one side of town compared to the other.

In Cambridge, there only tends to be terraces in the crappy/average areas, and only detached in the good areas, so its a pretty simple market

What are the best and worst areas of Peterborough, i wonder?

Inflation adjusted, £62k in todays money would be £80-85k RPI adjusted. Although in 1998 some said the housing market was already overvalued!

http://news.bbc.co.uk/1/hi/business/183482.stm

Housing market bubble bursts

September 30, 1998

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Two houses. One for £140K

The other for £165K.

I can tell you that the first is in a far better location than the second (on a cul de sac as opposed to a main road), and looks more nicely done out. The latter has no chance of selling as long as the former is on the market.

I am starting to see houses that are sniffing at the top end of being fair value. We need another 25% drop for an actual market to exist (you know, with a range of houses actually selling) but the days of believing houses were marching forever away from first time buyers are over.

As an aside... HPC question - what do you think a house bought for £62K in '98 would be worth now, adjusted for inflation?

I'll have a go.

£200k in today's money

£120k inflation adjusted.

Edited by benzlife

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Two houses. One for £140K

The other for £165K.

I can tell you that the first is in a far better location than the second (on a cul de sac as opposed to a main road), and looks more nicely done out. The latter has no chance of selling as long as the former is on the market.

I am starting to see houses that are sniffing at the top end of being fair value. We need another 25% drop for an actual market to exist (you know, with a range of houses actually selling) but the days of believing houses were marching forever away from first time buyers are over.

As an aside... HPC question - what do you think a house bought for £62K in '98 would be worth now, adjusted for inflation?

Wow, £140k for that, is it next door to a nuclear dump or something?

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In both Peterborough and Cambridge schools would be a big factor although I presume both the Peterborough examples would feed to Jack Hunt I guess.

The race factor would be a factor for me in Peterborough as some areas v segregated.

I would struggle to find anywhere that I would want to live in Peterborough itself and there is only one school I would want my kids to go to. It does not surprise me that Dogsthorpe has low prices.

Cambridge has desirable areas but is stupidly pricey.

In both those who can have moved out, to new builds or traditional villages if they can afford it. Shelfords v pricey. Better to follow guided bus North, if it ever starts running.

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As an aside... HPC question - what do you think a house bought for £62K in '98 would be worth now, adjusted for inflation?

Using the March figure each year £62k cash in March 1998 RPI adjusted would now be £89,615

But a house price is different because wage inflation and credit inflation affected it.

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Using the March figure each year £62k cash in March 1998 RPI adjusted would now be £89,615

But a house price is different because wage inflation and credit inflation affected it.

I don't think the question is how much £62k in cash would now be worth, more what a £62k house would now be worth (and then adjusted for inflation)

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I don't think the question is how much £62k in cash would now be worth, more what a £62k house would now be worth (and then adjusted for inflation)

You said £200k and £120k inflation adjusted.

So your £200k is house price rises per year adjusted?

What is the £120k?

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Two houses. One for £140K

The other for £165K.

I can tell you that the first is in a far better location than the second (on a cul de sac as opposed to a main road), and looks more nicely done out. The latter has no chance of selling as long as the former is on the market.

I have noticed recently that houses saying "no chain" like the first one does in your example, are now often priced lower than comparable ones, even more so, if they are empty of furniture, in the estate agents pics.

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re: Schools, it depends on the age of the kids but you within 3 miles of Kings, probably the best school in the city.

Many areas are indeed segregated - Millfield feels more like Lahore, dodgy copy-shops-fronts-for-god-knows-what abound.

Best areas of Peterborough - Orton Waterville, Longthorpe. Worst - Millfield, anywhere between the centre and Occupation road, Orton Brimbles.

These two houses are a stones throw apart, my point was the big difference in price despite the cheaper probably being more desirable - I forgot to mention it is detached, while the other is a semi!

Edited by tahoma

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Wow, £140k for that, is it next door to a nuclear dump or something?

No but recent immigration in Peterborough has been so sudden there are primary schools where English isn't the first language to any pupil.

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You said £200k and £120k inflation adjusted.

So your £200k is house price rises per year adjusted?

What is the £120k?

I overestimated inflation so my figures are wrong. However, the £200k was my guess at what it would cost to buy the house today, and the £120k my guess at what it would cost if you were buying today with 1998 pounds.

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rightmove.co.uk/property-for-sale/property-18454335.html

This ones been on now for 4 years

Three was a change of family since then so I guess the new ones are renting while the mortgage inner hopes

It was at 330k for a lo.g time

Then 320k

Then 300k

Then 270k

Now it seems its up by 10k to 280k

No way he will sell above 250 and it us still overvalued st 220k imo

Either way interest rates dropping like a store meant turns like him could afford to sit & wait & even profit from lower mortgage rates.

I'd suggest to anyone thinking prices will go up a lot that there is a tonne of people eating to sell at older prices ni way 2007 prices will be back for mire than a decade

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No but recent immigration in Peterborough has been so sudden there are primary schools where English isn't the first language to any pupil.

ah, then I withdraw my previous comment - they are asking twice what it is worth :D

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No but recent immigration in Peterborough has been so sudden there are primary schools where English isn't the first language to any pupil.

But isn't that excellent news?

A oft-quoted weakness of this country is our lack of mastery of foreign languages. This is a major handicap for industry.

But in just a few years from now, these polyglots will be ready to spearhead our international sales teams, clinching deals for British-made products on all 6 continents.

Admittedly, it would help if they learnt English as well.

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But isn't that excellent news?

A oft-quoted weakness of this country is our lack of mastery of foreign languages. This is a major handicap for industry.

But in just a few years from now, these polyglots will be ready to spearhead our international sales teams, clinching deals for British-made products on all 6 continents.

Admittedly, it would help if they learnt English as well.

It is a bit early for hitting the bong so hard isnt it?

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Two houses. One for £140K

The other for £165K.

I can tell you that the first is in a far better location than the second (on a cul de sac as opposed to a main road), and looks more nicely done out. The latter has no chance of selling as long as the former is on the market.

I am starting to see houses that are sniffing at the top end of being fair value. We need another 25% drop for an actual market to exist (you know, with a range of houses actually selling) but the days of believing houses were marching forever away from first time buyers are over.

As an aside... HPC question - what do you think a house bought for £62K in '98 would be worth now, adjusted for inflation?

I thought that the two houses would be the same - you know identikit Barratt Box types.

I also think that the house for £140k is quite cheap - I know it depends on location - but the place looks nice and has a huge garden, nice rooms and great decor (if not to everyone's taste).

The other one on for £170k - who would buy that at that price?

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  • 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%



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