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danlee74

5 Live Drive Yesterday

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2 hours 27 mins 20 secs in ... http://www.bbc.co.uk/iplayer/console/b013nglv

On a new housing estate in Peterboro, 4,000 built, "good chunk" still up for sale. Questioning an EA, comments like "market sluggish", "buyers market", "main problem is size of deposit required".

Presenter: "are the asking prices too high?"

EA: "hummmm well the prices have come down about 20% since 2007 " ...[no they haven't - see the HPC front page ... more like 6-13%]... " and some evidence that this year they have perhaps come down slightly"

EA summary "it would be a great help if the lenders were more relaxed and returned to 95% mortgages".

Sorry Mr EA, I do not want to sign up for a life of debt servitude with none of my earnings for discretionary spending due to an over-inflated mortgage ... I'll tell you what would help the vast majority of FTB'ers out there ... REDUCE THE PRICES!! It is not difficult to see that house prices are too high for the FTB target market. Does anyone else scream at the radio when vested interest clutzes like him are on??!

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So what are asking prices for a new build in "posh"

Answer: 3 bed detached wirh garage for £150,000 albeit, small bed rooms

http://www.rightmove.co.uk/property-for-sale/new-homes/property-19307949.html

Peterborough property market is a litter bit chaotic at the moment. You have the ones like the above, and you have 3 beds ex council flats asking for the same money.

Generally speaking, new(ish) built are actually good value for money. Most of them are trading about 25% below peak value and still not selling.

£176k -> £130k

£180k -> £145K

£230K -> £150k

£250k -> £170k

These are really drops I have seen. And they are still not selling.

The fact is that when you have new built 3 beds in nice areas selling for £150k-£160k, vendors asking for anything more than £125K for a second hand house are just kidding themselves.

Unofficially tilted as the rectum of Cambridgeshire, Peterborough is the Nequity and repo capital in the region. People have below average income as well as low IQ. That explains why asking price look as if the vendors are retarded, because technically they are.

It is no surprise that “homeowners” in financial trouble in Peterborough don’t act quickly. They are not very bright. They just sit there and let thing get out of control and then blame it on the “society”.

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The EA is Jolliffe Daking. It is a small indepent player. But they tend to overprice a lot. Usually 10 - 15% above other EAs. They usually deal with old people/BTL, i.e. baby boomers got house for (almost) free, and hence does not understand what it is like to have to BUY a house.

I am not surprised they are not selling.

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Answer: 3 bed detached wirh garage for £150,000 albeit, small bed rooms

Seems to be missing at least 1 window.

7015_HAH302001_IMG_00_0001_max_620x414.jpg

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christ what an ugly house.

Thats amazing , i had to click the rightmove link to see if it was a photo shopped joke or from the genuine advert. And the garage doesn't look big enough to fit a car in, and a bricks width from next doors. Why on earth would anyone buy that? I've seen so much stupidity in the design of new build estates, entire estates are completely uninhabitable, they are not worth a penny.

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Thats amazing , i had to click the rightmove link to see if it was a photo shopped joke or from the genuine advert.

I thought it might be a semi-detached at first due to the great absence of windows in the middle..

The windows that are there are very small. The bottom left is (what I presume to be) the living room. Tiny!

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Thats amazing , i had to click the rightmove link to see if it was a photo shopped joke or from the genuine advert. And the garage doesn't look big enough to fit a car in, and a bricks width from next doors. Why on earth would anyone buy that? I've seen so much stupidity in the design of new build estates, entire estates are completely uninhabitable, they are not worth a penny.

Someone who wants a detached house and only has 150K to spend.

At that price you have to have some compromises and if your only complaint is that the garage is too close to the neighbour then that isn't much of a compromise, IMHO

In many places, even some as sh*tty as Posh, 150k gets you a 2 up 2 down terrace with no own parking at all!

tim

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Someone who wants a detached house and only has 150K to spend doesn't want to spend more than 150k

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  • 338 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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