Regional Rises. Regional Drops.

[apom]

In devon I have seen £40,000 properties turn toward £130,000 at peak.

I have seen £70,000 properties become £140,000

larger properties seem to have gone up by 100% (doubled)

smaller ones seem to have gone up by 300% to 400%

Has anyone noticed similar goings on in their neck of the woods?

and the drops... ?

Last time like for like showed properties going down 50%..

but too long ago for me to remember differing propery classes..

My point is a friends flat has gone up 4 times.. my parents house has doubled..

Weird..

[FreeFall]

In devon I have seen £40,000 properties turn toward £130,000 at peak.

I have seen £70,000 properties become £140,000

larger properties seem to have gone up by 100% (doubled)

smaller ones seem to have gone up by 300% to 400%

Has anyone noticed similar goings on in their neck of the woods?

and the drops... ?

Last time like for like showed properties going down 50%..

but too long ago for me to remember differing propery classes..

My point is a friends flat has gone up 4 times.. my parents house has doubled..

Weird..

I've noticed a similar thing in my area as well (west London) - it seems like the market compressed somewhat - for instance, a 1BR flat would be about 170k, a 2BR terrace about 210k, and a 3BR semi about 235k. The differences between properties was much more historically. I wonder how much of this effect was caused by the BTL brigade trying to buy up all the 1BR shoe boxes so they can rent them out?

--edited due to inability to spell

Edited November 3, 2005 by FreeFall

[look to the past]

The buy to let brigade have so much to answer for!

If I was a first time buyer I would take the nearest BTL’er and bend them over for a good spanking!

If I could go back 10 years I would have bought every thing I could have / which would have been the cheapest properties – which make the best profit. Where I used to live I was surrounded by Afro Caribbean immigrants who all had 4 properties and second hand mercs and other top range cars.

They all thought they had made it – but you could tell by the cars that they were dreamers in debt- they certainly could have done with someone spanking some sense into them – although they had nothing to lose if things go wrong

Edited November 3, 2005 by look to the past

[Leodhasach]

I'd say it's all about affordability (using the term in the VI manner!). Probably the household incomes of 70-80% families looking to buy allows them to buy a £150-£250K house. Once all the houses people would ideally have - 3 beds with a garden etc - have risen in price beyond this band, people have to start accepting second best, and just take what they can afford, rather than what they want.

I have no idea whether or not the breakdowns of property types support this, it's just what I'd guess. If I'm right, semis and detacheds with decent number of bedrooms will have risen fastest first, then tailed off, and flats etc would have risen slowly at first, then accelerated.

Now we're at the important time where the ftbs continue to over-stretch themselves to buy a low grade property "just to get on the ladder", or think "feck that" and keep renting.