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djmgw

A Bit Of An Indicator?

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I went to look at this house when we moved back oop north in Summer 2005.

http://www.rightmove.co.uk/property-for-sale/property-41709782.html

It was on at £215k at the time and we offered £205k, which was rejected. It seems it was then rented out a couple of times, but recently came on at £170 and has gone SSTC within a couple of weeks. I seem to recall it was a probate sale at the time.

For Info its in Uppermill, one of the pennine villages on the Manchester side - train into Manchester in about 40 minutes, a nice rural area just outside Oldham (if there can be such a thing).

We ended up on the Yarksher side o' th'ill - more value but still pricey given the local wages.

djmgw

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I went to look at this house when we moved back oop north in Summer 2005.

http://www.rightmove.co.uk/property-for-sale/property-41709782.html

It was on at £215k at the time and we offered £205k, which was rejected. It seems it was then rented out a couple of times, but recently came on at £170 and has gone SSTC within a couple of weeks. I seem to recall it was a probate sale at the time.

For Info its in Uppermill, one of the pennine villages on the Manchester side - train into Manchester in about 40 minutes, a nice rural area just outside Oldham (if there can be such a thing).

We ended up on the Yarksher side o' th'ill - more value but still pricey given the local wages.

djmgw

does look like a classic probate sale. And the numpties have thrown away unearned income of 30K+ due to greed by the looks of things...

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Remarkably managed to fit three bedrooms and a bathroom in a loft conversion above a small bungalow with use of dormer windows only. I am assuming so, since the attaching semi isn't a dormer. Though the bedrooms are small.

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Thread indicates the real loss Northern households have suffered since 2005. 205K to 170K looks about spot on to me if you are talking Derbyshire, Yorkshire, Lancashire etc and indeed probabkly the peak for these counties and not the summer 2007 .. so real crash is:-

RPI (191.6/249.5 =.77) x (170/205 = .83) = a real crash of -36%.

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Thread indicates the real loss Northern households have suffered since 2005. 205K to 170K looks about spot on to me if you are talking Derbyshire, Yorkshire, Lancashire etc and indeed probabkly the peak for these counties and not the summer 2007 .. so real crash is:-

RPI (191.6/249.5 =.77) x (170/205 = .83) = a real crash of -36%.

Oooo .. If you get a moment could you explain the above equation to a poor numpty (my friend :unsure: ) who didn't do too well at maths in school. :ph34r:

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Wrong side of the pennies for me.

My home region - Yorkshire coast/greater Scarborough - shows the same but much more extreme.

Assuming that you were loking to buy in 2006 and the price was 'the current rate - EA speak' - then the numbers tally with what I've seen.

In nominal (sticker) prices the North is not going to have much to show since 2003-ish now.

Real terms you are talking hefty losses.

Factor in paying the interest and maintenance and ... well.

The most notable factor which does not show up in the prices - yet - is that the number of sales fell off a cliff in 2007. And they have not recovered yet.

Using propertybee I can get a good idea of new listed houses and those that have just put through the washing machine.

I would guess Scarborough has about 5 years of property sales currently listed at pre-2007 rates.

Probably 20+ years at the current number of transaction.

I don't think people really understand how long its going to take to shift a house and much prices need to be slashed to clear the backlog.

The number of probates/shove-in-a-home-sales is truely amazing.

House after house listed where the house is obvious not occupied and loads of that bulky, indestructible furniture in wierd colours that OAPs buy despite the fact that itll outlive them by 30 years.

And the good awful wallpaper.

This is just residencial.

Don't even think about trying to sell a commercial business.

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Wrong side of the pennies for me.

My home region - Yorkshire coast/greater Scarborough - shows the same but much more extreme.

Assuming that you were loking to buy in 2006 and the price was 'the current rate - EA speak' - then the numbers tally with what I've seen.

In nominal (sticker) prices the North is not going to have much to show since 2003-ish now.

Real terms you are talking hefty losses.

Factor in paying the interest and maintenance and ... well.

The most notable factor which does not show up in the prices - yet - is that the number of sales fell off a cliff in 2007. And they have not recovered yet.

Using propertybee I can get a good idea of new listed houses and those that have just put through the washing machine.

I would guess Scarborough has about 5 years of property sales currently listed at pre-2007 rates.

Probably 20+ years at the current number of transaction.

I don't think people really understand how long its going to take to shift a house and much prices need to be slashed to clear the backlog.

The number of probates/shove-in-a-home-sales is truely amazing.

House after house listed where the house is obvious not occupied and loads of that bulky, indestructible furniture in wierd colours that OAPs buy despite the fact that itll outlive them by 30 years.

And the good awful wallpaper.

This is just residencial.

Don't even think about trying to sell a commercial business.

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Referring to the above, always amazed at just how low prices along the East coast are from about Boston in Lincolnshire upwards. Unlike, say the south west; retirees and second homeowners appear to depress prices rather than increase them. I'd be looking at about half the price for a large detached in the Lincolnshire or Yorkshire coastal regions (where there is no work) to a rural offering around a major city like Nottingham where i live.

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Referring to the above, always amazed at just how low prices along the East coast are from about Boston in Lincolnshire upwards. Unlike, say the south west; retirees and second homeowners appear to depress prices rather than increase them. I'd be looking at about half the price for a large detached in the Lincolnshire or Yorkshire coastal regions (where there is no work) to a rural offering around a major city like Nottingham where i live.

Lincoln is quite nice isnt it? Ive never been, but its better than those towns like Sleaford, Spalding, Scunthorpe, and the other lincs places?

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Lincoln is quite nice isnt it? Ive never been, but its better than those towns like Sleaford, Spalding, Scunthorpe, and the other lincs places?

I think most of these North Eastern towns have quite a bit of deprivation, with a few exceptions like Harrogate. Best value is to be found in the deepest countryside such as Lincolnshire Wolds, where the the lack of transport links and work makes it cheaper than the less desirable towns. Good for those retiring or who work from home.

Probably the most respectable town in those parts is Louth...and feeling the effects of the Humberside house price crash meltdown it adjoins.

Edited by crashmonitor

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I think most of these North Eastern towns have quite a bit of deprivation, with a few exceptions like Harrogate. Best value is to be found in the deepest countryside such as Lincolnshire Wolds, where the the lack of transport links and work makes it cheaper than the less desirable towns. Good for those retiring or who work from home.

Probably the most respectable town in those parts is Louth...and feeling the effects of the Humberside house price crash meltdown it adjoins.

Beverley too is quite nice? Compared to Hull, at least.

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Nowt wrong wit Yarkshire! ;)

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  • 238 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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