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Monkey_Boy

1st Signs Of Desperate Sellers In Surrey?

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For the first time in many months of casually observing the property market near where I live in Surrey a property has come on the market which just scrapes into the absolute maximum budget I would consider.

find a propert - bisley

Ok it's too small and the area is a little inconvenient travel wise, but it shows a dramatic drop. Previously prices in Bisley have been £150K for a 1 bed flat.

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I've been keeping a keen eye on properties where I rent, one prop that has been 'developed' was for sale at 300K when we moved there, 8 months ago, the price was dropped in stages to 250K ....... then came up for let at 795 pcm .... and it looks like someones took it.... no doubt they'll sell when things pick up in the spring :)

Another one just down the road was 265 when we arrived in the area, again its been dropped gradually to 199K (nice) and is going up for auction ...... it looks an absolute steal in the current climate ...... but will it in 2 years time ??

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On the same findaproperty site I have just found a 2 bed place in knaphill for £120K....

Then when you read the ad in detail;

HOUSING ASSOCIATION CRITERIA

·shared ownership property

·60% equity

·Monthly rent £223.62 and service charge £13.96

·Must be a first time buyer

·Minimum £37,000 income for single applicant

·Minimum £46,000 for joint applicants

·Minimum of £3,500 savings

Would I be right in thinking you would have to pay £223.62 rent on top of any mortgage payments for the 60% ownership? If so that is going to be a bit of a squeeze even for someone on 37K

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  • 333 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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