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Crash Is On In Leicester.2006 £120K,now £80K

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oh god that child's room seems to tell a story, how much love must have gone into that and now... - how sad

but even then 80k, still a lot of money for a terrace in a regional town

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80k for a 3 bed in a decent area ... wonder what average salary is round there?

Aidanapword

£20k ish? I guess. So it's probably not too bad. £75K would be a fair price

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Isn't Leicester like Bradford? Burnley, but bigger.

That house will be worth 4p in 10 years.

No it isn't though the City suburbs from Highfields to Rushey Mead have high asian population of course. Still a nice place to live and the City centre shopping centre is excellent and undergone "regeneration." Most of the old shoe factories such a BSC have been demolished and having new housing built on them. However a lot of the old high tech industries have gone, such as Marconi Radar and so on, so I doubt there are major employers left propping up the town.

I'm pretty sure you could pick up terraced houses in Leicester for £100k even at the peak of the boom as I kept an eye on the Leicester market. Strangely for a city which is little more than an hour from London on the excellent St Pancras service, the worst of the bubble kinda passed Leicester by.

(Speaking as a former resident of Rushey Mead and Beamont Leys)

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The house is worth 3x the likely salary of the sort of person who would live there.

£40K. Far less if the area goes tits when we finally trip over the can being kicked down the road.

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Appreciate the drop but £80k is still in bubble territory if you ask me, a very good example of that house should be no more than £25k IMO.

When I saw your comment I thought you were probably being a bit over ambitious with what your looking for overall in terms of a HPC but I went back and had another look at it and your right, 80k should be the average price, I wouldn't say this is an average house in an average area so I think anywhere between 20k and 40k would be about right.

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When I saw your comment I thought you were probably being a bit over ambitious with what your looking for overall in terms of a HPC but I went back and had another look at it and your right, 80k should be the average price, I wouldn't say this is an average house in an average area so I think anywhere between 20k and 40k would be about right.

About 15 years ago when I was living with my parents up north, 3-bed terraced, much bigger than this one, price was £15k. They bought it just before I was born about 35 years ago for £2k. These houses subsequently went for £120k in the peak of 2007.

Completely crazy, I'd say the right price for these today should be about £25k, think they have dropped back to around £95k so far.

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I'm seeing some good buys for Victorian terraces myself in Birmingham, i can't stand them really. Looks like i might end up in one unless things change though.

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The house is worth 3x the likely salary of the sort of person who would live there.

£40K. Far less if the area goes tits when we finally trip over the can being kicked down the road.

I'd say that was about right too.

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When I saw your comment I thought you were probably being a bit over ambitious with what your looking for overall in terms of a HPC but I went back and had another look at it and your right, 80k should be the average price, I wouldn't say this is an average house in an average area so I think anywhere between 20k and 40k would be about right.

You are talking about the past when a quid was a quid nowadays a quid is monopoly money worth less and less around the world.The pounds a joke,with no laughs.

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sad to see the kids room.

I fail to see what is so sad about it.

A friend has pics in their photo albums of their child in bedrooms of homes they've rented during the last 10 years. Moving to new rented houses when given notice or when having issues with existing landlord. Renting simply because unable and then unwilling to pay prices which reached £120,000 for that sort of terrace, and still renting because they are waiting for better value.

So it's sad for the child of the parents who have failed to keep their mortgage repayments, who've lovingly decorated their kid's bedroom in a house they can't afford? Cry on.

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on the otehr point you're right,lot of london comuters live near harborough and bits of leicester.

You have a big advantage living in Leicester as I don't think the non stop service stops at Harborough. Think it just slows down for the sharp bend in the line there.

Quite funny when people for Luton Airport get on that, and find they can't get off till London! laugh.gif

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I lived in Leicester for a year in the late 1970s and, while I never warmed to the place, it was a prosperous town with a fair bit of industry and high employment levels. Sadly, like most of the UK its industrial base was eroded from the 1980s onwards. It still lies at the heart of a thriving agricultural region but a lot of the gloss has gone off the local economy so that the town like so many others is ever reliant on shopping, the state and a few London commuters to make end meet. The place did have some quite decent and sizable Victorian terraced houses so if this 80k property is one of them it might even be in the realms of fair value which would make it a rarity in the UKs barmy housing market.

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Good to see price falls, but theres a long way to go yet, interest rates are still only 0.5%.

It's like the line about a man falling from a really tall building...

so far, so good

so far, so good

so far, so good..

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I fail to see what is so sad about it.

A friend has pics in their photo albums of their child in bedrooms of homes they've rented during the last 10 years. Moving to new rented houses when given notice or when having issues with existing landlord. Renting simply because unable and then unwilling to pay prices which reached £120,000 for that sort of terrace, and still renting because they are waiting for better value.

So it's sad for the child of the parents who have failed to keep their mortgage repayments, who've lovingly decorated their kid's bedroom in a house they can't afford? Cry on.

fair point, you're right, but this whole sorry tale is sad sad sad sad Gordon Brown you're a k*nt sad sad sad sad sad sad sad sad sad sad

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http://www.rightmove.co.uk/property-for-sale/property-30130159.html

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&locality=LEICESTER&town=LEICESTER&street=MILLIGAN+ROAD&year=All&house_style=All&house_age=All&house_type=All&search_radius=&northingToSearch=&eastingToSearch=&cCode=EW&outcode=LE2&incode=8FA&order=&start_limit=40&curPage=3

under offer at £79,950.these places were flying for £120k in 2006.have a gander,nicely done up,not a dump at all.Had a look on nethosueprices.com for the purchase and couldn't find it.Houses 4 doors up are lsited.owners must have MEWed.

sad to see the kids room.

the area's alright.

reason I went on rm to look was an EA telling a mate nothing was shifting and things were really bad.

the more liquid parts are still shifting but I'd rather live in this area than some of the more expensive ex LA hosues.

markets move at the margins etc.

these places were swapping hands for £35k ten years ago.

property bee action for those who don't use is as follows

19 may 2011 inital entry £87,500

18 june 2011 down to £79,950

1 july 20121 under offer

on with other agent

24 March 2011 inital entry at £94,950

10 May 2011 down to £87,500

18 june 2011 down to £79,950

looks liek the bank moved sharpish to get a sale.

Yeah but the price hasn't gone down. You know the maths

£120k house + Stone Cladding = £79k

So the maths adds up, in fact according to my maths it's gone up by £1000 since 2006.

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fair point, you're right, but this whole sorry tale is sad sad sad sad Gordon Brown you're a k*nt sad sad sad sad sad sad sad sad sad sad

I blame Brown for a lot but it's also the freewill choices of all other people.

What do you say to the boyfriend of my closest girl friend, who is now making plans to keep his former martial home to rent out, and buy a new house? She's been with him a couple of years and knows but now doubts my hpc position. Aflter all, there has been no crash as I put fear into her there would be. Loverboy can claim he's been right about house prices compared to what I've been telling her.

She would be happy for him to sell and then rent a place together, but would also buy with him on a joint mortgage. She just doesn't want to make his house her home, and to have the coupley experience of together choosing and making a home with each other. Apparently for him we've had the recession, house prices fell a little but stabilised, history proves long term house prices only go up, he's only had big pay rises during the recession, and thinks his current house will rise from 1/4 of a million value today and be worth a minimum of 3/4 of a million in 30 years time to be his pension.

The majority out there think people of a hpc mind are sad losers. Can't even see the rare repossession without feeling sad for the victims, when the majority of home owners think hpc are stupid saddos who deserve to rent forever. Even those who lose their homes through greed and taking on unsustainable debt often still think the only way forwards for wealth into the future is getting back into property again.

http://www.property-...0-bankrupt.html

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I blame Brown for a lot but it's also the freewill choices of all other people.

What do you say to the boyfriend of my closest girl friend, who is now making plans to keep his former martial home to rent out, and buy a new house? She's been with him a couple of years and knows but now doubts my hpc position. Aflter all, there has been no crash as I put fear into her there would be. Loverboy can claim he's been right about house prices compared to what I've been telling her.

She would be happy for him to sell and then rent a place together, but would also buy with him on a joint mortgage. She just doesn't want to make his house her home, and to have the coupley experience of together choosing and making a home with each other. Apparently for him we've had the recession, house prices fell a little but stabilised, history proves long term house prices only go up, he's only had big pay rises during the recession, and thinks his current house will rise from 1/4 of a million value today and be worth a minimum of 3/4 of a million in 30 years time to be his pension.

The majority out there think people of a hpc mind are sad losers. Can't even see the rare repossession without feeling sad for the victims, when the majority of home owners think hpc are stupid saddos who deserve to rent forever. Even those who lose their homes through greed and taking on unsustainable debt often still think the only way forwards for wealth into the future is getting back into property again.

http://www.property-...0-bankrupt.html

it is unnuterably depressing but what are you supposed to do, hate humanity? it's very human, very failed, and all you can do is make the best decisions for yourself; I did not know that ZIRP and bailouts were coming our way, but it seems likely that this guy who got lucky with his first homne purchase is going to get unlucky with his % leverage in a long term bear market - what do you say? You learn to be quiet about it and rant on forums to let of steam instead, well I do anyway... ;)

(edit - meaning try not to dislike people, they are just people, we all do funny things)

Edited by Si1

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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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