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I am noticing a big increase in repo`s lately (tape on appliances and taps), mainly in the ftb price range. If the property does not sell within a couple of weeks, about 10% is lopped off the price. The minute a property drops below what is percieved fair value, it is sold, without exception. I believe the vast majority of these sales are cash landlords. There is always cash available for possible bargains, it would seem.

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I am noticing a big increase in repo`s lately (tape on appliances and taps), mainly in the ftb price range. If the property does not sell within a couple of weeks, about 10% is lopped off the price. The minute a property drops below what is percieved fair value, it is sold, without exception. I believe the vast majority of these sales are cash landlords. There is always cash available for possible bargains, it would seem.

There is round my way too (me), except that those bargains almost never appear!

tim

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I am noticing a big increase in repo`s lately (tape on appliances and taps), mainly in the ftb price range. If the property does not sell within a couple of weeks, about 10% is lopped off the price. The minute a property drops below what is percieved fair value, it is sold, without exception. I believe the vast majority of these sales are cash landlords. There is always cash available for possible bargains, it would seem.

Plimuff prices look favourable to BTL. Plenty of low-end properties up for sale at very modest prices, but there seems to be a proportionately much higher floor on rents.

Given that there's a big but thoroughly undistinguished ex-poly, I wonder how it'll be affected by student fee changes?

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The same thing has been happening around my way S/E Wales for the last six months or so but in the last month or so the price`s have started to drop buy quite large amounts ,most of the place`s are ex btl ,and the strange thing is , it looks like they are being bought by the btl brigade

So the last lot failed and got repoed, so it makes me wonder if I`m missing something or are the new btl owner`s just as thick as the previous as the LHA changes have not taken affect yet which is going to knock 10% minimum of the rent they will get

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Plymouth to me seems to have returned to some reasonable house prices,

Example;

Solid 2 bed terrace Keyham/Stoke ideal first house.

2003 £75k

2007 £135k

2011 £100>120k

30K rise over 9 years seems average not exactly a Boom.

loads of houses seem to be shifting under 250k in Plymouth and the local wage is not that bad. If you can save 15k then you can get a good house.

The new flats seem to be hanging around on the market for a long time and the student lets fly off the market as the Uni is Huge and getting much much bigger.

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Plymouth to me seems to have returned to some reasonable house prices,

Example;

Solid 2 bed terrace Keyham/Stoke ideal first house.

2003 £75k

2007 £135k

2011 £100>120k

30K rise over 9 years seems average not exactly a Boom.

No offence to anyone who lives there but I wouldn't pay any of those prices to live in Keyham.

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Plymouth to me seems to have returned to some reasonable house prices,

...the student lets fly off the market as the Uni is Huge and getting much much bigger.

Who's gonna spend £45k for a Plymouth degree in History?

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No offence to anyone who lives there but I wouldn't pay any of those prices to live in Keyham.

Non Taken, but realistically its the same area as Stoke/Ford separated by the St Levans road. Its mostly full of people who are in the Royal navy or work in the docks ie hard working family's. Not exactly a sink estate.

But I guess that's kind of why people are on this forum because they consider themselves above a particular neighbourhood without really looking as to who lives there, and what good value housing is still out there.

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Non Taken, but realistically its the same area as Stoke/Ford separated by the St Levans road. Its mostly full of people who are in the Royal navy or work in the docks ie hard working family's. Not exactly a sink estate.

But I guess that's kind of why people are on this forum because they consider themselves above a particular neighbourhood without really looking as to who lives there, and what good value housing is still out there.

When I looked around in 2005 I looked primarily at Plimuff, 'cos it was cheaper than anywhere out-of-town. The best value places I saw then were in Ford: Alfred Rd and Brunel Ave. Not a pretty area, but neither was it scary/nasty, and those were at the nice end of the spectrum of Victorian terraces. Might be living there now if the evidence of bubble hadn't scared me off buying.

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Given that there's a big but thoroughly undistinguished ex-poly, I wonder how it'll be affected by student fee changes?

There's also a teacher training college that has diversified into generic degrees and expanded a lot in recent years, right next door to the soon-to-be-closed airport. Not as big as the UoP, but it must add a few thousand to the student let market, I'd have thought.

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There's also a teacher training college that has diversified into generic degrees and expanded a lot in recent years, right next door to the soon-to-be-closed airport. Not as big as the UoP, but it must add a few thousand to the student let market, I'd have thought.

Heh. I though Marjons was only there to make the city-centre one look like a real university by comparison.

Though being on my route into Plymouth, it does seem to bring some eye-candy onto the buses.

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So the last lot failed and got repoed, so it makes me wonder if I`m missing something or are the new btl owner`s just as thick as the previous as the LHA changes have not taken affect yet which is going to knock 10% minimum of the rent they will get

At the bottom end of the market (which I guess these Plymouth properties fall into) the coalition's ill-considered Housing Benefit cuts are likely to push rents up...

'The Housing Benefit (Amendment) Regulations 2010 (S.I. No. 2010/2835). The Rent Officers (Housing Benefit Functions) Amendment Order 2010 (S.I. No. 2010/2836). Report by the Social Security Advisory Committee under Section 174(1) of the Social Security Administration Act 1992 and the statement by the Secretary of State for Work and Pensions in accordance with Section 174(2) of that Act '

http://www.official-...80108509551.pdf

The Committee's Report

[...snip...]

Removing the £15 excess payment from 2011

4.23 We have also previously reported on a proposal to remove the £15 excess payment and recommended that it be retained. In response to our report the previous administration decided to delay its removal for a year. We supported the retention of £15 excess when we reported last year because we believe that it supported tenant choice and responsibility. We still believe that this underpinning policy is correct and that if the excess is removed it is likely that landlords will respond by simply raising their contractual rents to the level of the LHA rate (this may be even more likely when considered in conjunction with the proposed upper limits for LHA).

[...snip...]

Setting LHA rates at the 30th percentile of rents in each BRMA from October 2011

4.24 The problems faced by those claiming HB who are trying to access housing in the PRS are well-documented. Landlords' willingness to let to households claiming HB is limited in many areas, particularly since direct payment of the HB to the landlord was made exceptional under the LHA arrangements. Even with the LHA set currently at the median of the rents in each BRMA, not all properties are available to HB tenants and we are concerned that moving to a calculation based on the bottom 30% of rents, will mean more tenants chasing fewer 'affordable' tenancies and may have the effect of pushing up rents. We believe that this may have particularly damaging effect on the market for rooms in shared properties that are subject to the one bedroom shared accommodation rate for people aged under 25, an area of provision that is already under considerable pressure.

Edited by CrashConnoisseur

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Heh. I though Marjons was only there to make the city-centre one look like a real university by comparison.

Its degrees are validated by Exeter (i.e. a Marjon graduate has 'University of Exeter' on their certificate), which I suspect will be a significant selling point in the market that emerges. I had a job interview there in 2003 and was quite impressed at what they seemed to be achieving, given the size of the place. They offered me the job, but not on an upgrade in payscale from where I was at the time, and realistically with fewer career development opportunities; so I passed.

I suspect that the loss of the airport will be a significant blow for Plymouth. Once that's gone the place will be 4-5 hours from any major centre of population (London, Manchester etc.), and unless the cost of living was insanely low there, I certainly wouldn't want to operate a business from such a remote spot.

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Its degrees are validated by Exeter (i.e. a Marjon graduate has 'University of Exeter' on their certificate), which I suspect will be a significant selling point in the market that emerges. I had a job interview there in 2003 and was quite impressed at what they seemed to be achieving, given the size of the place. They offered me the job, but not on an upgrade in payscale from where I was at the time, and realistically with fewer career development opportunities; so I passed.

I suspect that the loss of the airport will be a significant blow for Plymouth. Once that's gone the place will be 4-5 hours from any major centre of population (London, Manchester etc.), and unless the cost of living was insanely low there, I certainly wouldn't want to operate a business from such a remote spot.

Journey time on peak time trains to paddington 3hrs, 40 mins ish drive to exeter airport, hour and a half to bristol airport.

Plymouth University has the most successful 'new wave' medical school along with a dental school. It specialises in marine biology for which it is an international leader.

TwoFour is based there which is with endomol the biggest independent tv company, they have main centre in plymouth with a London office which works for them. My wife runs a business here, clients are mainly scandinavian companies, email and telephone is a wonderful thing and we are minutes from the Marina, beach or moor. I go to work on a boat which is a more enjoyable commute than than the northern line I can tell you.

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Journey time on peak time trains to paddington 3hrs, 40 mins ish drive to exeter airport, hour and a half to bristol airport.

There's about one train/day that quick (at 10:40 or somesuch IIRC). Three and a half hours is more usual. The journey gets tortuous as soon as you get west of Exeter and thus out of the effective southeast. I have an idea London-Newcastle is actually quicker.

But the airport was never a draw. Neither is Exeter's horrible airport. Nearest real airport is Bristol.

My wife runs a business here, clients are mainly scandinavian companies, email and telephone is a wonderful thing and we are minutes from the Marina, beach or moor. I go to work on a boat which is a more enjoyable commute than than the northern line I can tell you.

Yep. Far better place for a geographically-unconstrained business than anywhere in the southeast. When I came back to Blighty my geographical requirement was just to be well out of southeast England.

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There's about one train/day that quick (at 10:40 or somesuch IIRC). Three and a half hours is more usual. The journey gets tortuous as soon as you get west of Exeter and thus out of the effective southeast. I have an idea London-Newcastle is actually quicker.

But the airport was never a draw. Neither is Exeter's horrible airport. Nearest real airport is Bristol.

Yep. Far better place for a geographically-unconstrained business than anywhere in the southeast. When I came back to Blighty my geographical requirement was just to be well out of southeast England.

I have to agree, I work abroad mainly and although I did use the airport to fly to Gatwick occasionally, it was very expensive compared to the train and by the time you checked in etc it was not really a lot quicker. Far better to go the Exeter or Bristol airports.

The Uni is huge and it will get bigger. The work life balance is far better in the south west compared to south east's grind and with Exeter/Plymouth being the big work bases they will grow as population centre's.

The house prices have I think become affordable in Plymouth over the last 3 years or so. A 3 bed family house garden and garage in good area 160K. We can carry on saying houses cost 10p in 1992 so they should be worth that again but realistically rising Inflation plus the 20/30% price drop since 2007 are eroding house prices. The inflation is also eroding our savings in the bank faster, so perhaps buy a house now and expect a slow drift down for a couple of years but save a fortune on rents. Or wait and watch people who have saved a deposit get a house and hold price's steady.

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The house prices have I think become affordable in Plymouth over the last 3 years or so. A 3 bed family house garden and garage in good area 160K.

What area is that? Plymouth isn't really a city blessed with good areas. The 'better' areas like Mannamead or Hartley, or even Peverell (Victorian terraces, no gardens) will cost much more than that. Yes there are a lot of cheap houses, but that's in the solid working class areas (like Ford/Keyham) or the ultra-dreary and high-crime areas.

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What area is that? Plymouth isn't really a city blessed with good areas. The 'better' areas like Mannamead or Hartley, or even Peverell (Victorian terraces, no gardens) will cost much more than that. Yes there are a lot of cheap houses, but that's in the solid working class areas (like Ford/Keyham) or the ultra-dreary and high-crime areas.

Not going to win any design awards but as a family home fine...

http://www.rightmove.co.uk/property-for-sale/property-19881750.html?backListLink=%2Fproperty-for-sale%2Fmap.html%3FlocationIdentifier%3DREGION%255E1073%26insId%3D3%26maxPrice%3D160000%26minBedrooms%3D3%26displayPropertyType%3Dhouses%26oldDisplayPropertyType%3Dhouses%23_includeSSTC%3Don%26auction%3Dfalse%26displayPropertyType%3Dhouses%26locationIdentifier%3DREGION%255E1073%26maxPrice%3D160000%26minBedrooms%3D3%26oldDisplayPropertyType%3Dhouses%26previousSearchLocation%3DPlymouth%26propFeature%3DGarden%26propFeature%3DParking%26radius%3D0.0%26searchLocation%3DPlymouth%26searchType%3DSALE%26useLocationIdentifier%3Dfalse%26box%3D-4.09962%2C-3.98460%2C50.36715%2C50.40983%26popupPropertyId%3D19881750%26mapType%3DMap&fromMap=true

Peverell (obviously without Garden garage)

http://www.rightmove.co.uk/property-for-sale/property-18428952.html?premiumA=true

5k over but bet they take an offer.

Don't want to split hairs, I agree there are some crap holes in Plymouth but they don't really sell in any climate.

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Not going to win any design awards but as a family home fine...

http://www.rightmove.co.uk/property-for-sale/property-19881750.html

Ugh. The kind of address you get hated if you don't conform.

Typical for the area, and surprisingly cheap for the area. Though the same in Ford/Keyham would be a lot cheaper, and just as good for those of us who aren't too concerned about school catchments.

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Journey time on peak time trains to paddington 3hrs, 40 mins ish drive to exeter airport, hour and a half to bristol airport.

Oh, come on. Firstly, you can add an hour to any headline-advertised train journey time before you get what is actually realistic. Secondly, the only people who travel by long distance train are public sector workers on expenses or the unemployed and retired with time on their hands. This is becuase tickets that allow you to travel at a time when someone who works for a living is actually able to are vastly more expensive than they are likely to be able to afford out of their own pockets (e.g. £170 for a standard class return from York to London), and the ones that are priced at a sane figure are so restricted as to their validity and the time in advance you have to buy them that the only people who can use them are those who are able to organise their entire lives around the trains that people in the first category don't want to use, and thus have capacity that the train companies sell of (relatively) cheaply.

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Oh, come on. Firstly, you can add an hour to any headline-advertised train journey time before you get what is actually realistic.

Only if you travel at weekends. Mostly onna sunday.

Secondly, the only people who travel by long distance train are public sector workers on expenses or the unemployed and retired with time on their hands.

None of the above.

This is becuase tickets that allow you to travel at a time when someone who works for a living is actually able to are vastly more expensive than they are likely to be able to afford out of their own pockets (e.g. £170 for a standard class return from York to London),

Oh dear. No, indeed, I wouldn't pay full headline peak-time price. Unless it's a good bargain, like the journey to Dublin (£33 from any UK station, including the ferry). Just travel off-peak when there isn't a better deal.

[edit to add] Anecdote: in my first professional job after graduating, company policy was all professional staff get first-class travel. And book through the company, who got a 5% discount. Even on trains where there's absolutely no advantage to first class.

One day we had a full-day meeting in Weymouth, so we traveled down the day before and stayed overnight. We arranged it for a Monday, so went down early on the Sunday morning, and my then-girlfriend came for the Sunday.

Company paid £42 each for my colleague and myself, including discount.

Girlfriend paid £6.40 - the more realistic price for those not on expenses.

Edited by porca misèria

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I was just saying that there are good housing for 160K in Plymouth, I agree I don't much like the first one but it has garage garden that another contributor was saying impossible in Plymouth for 160K, I agree Keyham/Ford are cracking areas if you want a big house for not a lot of cash. A lot have all the period features still intact.

Personally I do use the train to travel a lot from Plymouth and I am not Public sector, Retired or Unemployed. We have a great skills base in the south west in the maritime sector and it is in demand across Europe despite the last recession I am busier than ever.

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Oh dear. No, indeed, I wouldn't pay full headline peak-time price. Unless it's a good bargain, like the journey to Dublin (£33 from any UK station, including the ferry). Just travel off-peak when there isn't a better deal.

If I want to be in London for a 9am meeting, I don't have the option of travelling off-peak when there's a better deal. I have to buy that £170 ticket, or travel the previous day and stay in a hotel. The earliest you can use tickets that are any cheaper is leaving York after 9.30am, which is useless unless you're a leisure traveller. Alternatively I can drive, for around half that in petrol, parking and c-charge.

One day we had a full-day meeting in Weymouth, so we traveled down the day before and stayed overnight. We arranged it for a Monday, so went down early on the Sunday morning, and my then-girlfriend came for the Sunday.

Why should I have to do that? When I'm travelling on work it's bad enough having to spend the extra, unpaid overtime hours in transit anyway. Having also to spend an evening and a night away from my home in some grotty hotel just adds insult to injury. The train companies know this, hence the reason they charge £170 for that ticket. There are enough public sector workers on expenses willing to pay that to fill up their trains, and the private sector ones are never going to travel by train anyway, because it's too expensive, too unreliable and too inflexible.

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Good for you - that is exactly right.

When you become too close to a commercial centre, the life gets sucked out of your town or City.

People in the North don't understand how damaging a high speed rail line to London will be to their economies. They would in fact be better off just linking Leeds-Liverpool-Manchester-Sheffield-Birmingham for instance, and don't take it out of that hub. Only do that once its success has been built up and you want to suck the life out of elsewhere.

The last point I would make on the 'it's in the middle of nowhere, it can't possibly succeed' is that basically we are all in the middle of nowhere until you make it somewhere. I often think of Seattle. Just look at that. Stuck next to the Pacific Ocean on the edge of the world. It's a nonsense that it could be a success by this way of thinking.

I think the North has already had the life sucked out of it, so I doubt the high speed rail link will make much difference.Might as well make some southern nancies life a misery building the thing, though I can already be in Euston from Manchester Picadilly in under 2.5 hours ( IIRC.) and some pretty cheap fairs (off peak).

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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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