Jump to content
House Price Crash Forum
Sign in to follow this  
Hmmmmm

Will The North Crash, Even If South Doesn't?

Recommended Posts

House prices between north and south at their closest for quite a while (don't know exact figures), but wages still far apart. A crash is more likely in the north me thinks.....

Share this post


Link to post
Share on other sites

I spend a couple of days a week in county durham. All I hear is that prices are rising. People (intelligent ones too) are still scrambling on to the 'ladder'. You can guess how they take the idea that a crash is coming.

Share this post


Link to post
Share on other sites

Fundamentals of wage & employment levels are much better in the South(east) than the North. The North has caught up to the Southeast in terms of ridiculous price:earnings ratio very recently, so it probably has further & quicker to fall.

Share this post


Link to post
Share on other sites
Guest Guy_Montag

I'm not so sure, there are plenty of low priced properties up here still. Durham, where I live is intensly affected by the student population, but slightly further out, if you don't mind living in a pit village with unemployment running at 50+% you can still pick up a "bargan".

Share this post


Link to post
Share on other sites

I'm not so sure, there are plenty of low priced properties up here still. Durham, where I live is intensly affected by the student population, but slightly further out, if you don't mind living in a pit village with unemployment running at 50+% you can still pick up a "bargan".

Yes, my relatives also tell me that 'prices will never go down in Durham

because it's a university town'. However, here are the latest land reg stats for Durham:

http://news.bbc.co.uk/1/shared/spl/hi/in_d...s/html/20ue.stm

Down 8.9% last quarter, 9.3% YoY. Most of it is in detached

(down 19.7% on quarter, 13.8% YoY), but semis fell 2.8% last

quarter (still small positive YoY).

The other areas of County Durham are more mixed.

Pent

Share this post


Link to post
Share on other sites

Grotty houses like these have been snapped up by landlords.

http://www.houseprices.co.uk/e.php?q=110%2...2C+S9+1BL&n=100

600% in 4 years and I think that the North is way imbalanced. And I would say that inflation like this is why all those surveys show the North still growing. My only question in hindsight is this, was the value in 2001 too cheap or is the value in 2005 too much. I've lost the plot in Sheffield anyway, it's gone absolutely mental I have to pinch myself sometimes that I'm not living down south. The fact may be that in absolute terms up North we may not lose as much as down south, but it will be more painful for us. And if the conservatives ever get back in then we will be double whammied as we will be left out to dry as well, just like they did before.

Share this post


Link to post
Share on other sites

when you describe the south.. don't lump in Devon or cornwall..

We are as poor as church mice here..

and the moron majority have been happy to pay london prices in a lot of areas...

Yet earn about 50% of london prices..

Lets check out the debt levels...

I honestly.. and I am not lying..

I know one guy who makes about 18,000

and has an interest only loan of £160,000

and he didn't buy at the peak..

He rents a room..

But today with small inflation and real wages drops since labour..

He is buggered.

Share this post


Link to post
Share on other sites
Guest Bart of Darkness
I've lost the plot in Sheffield anyway, it's gone absolutely mental I have to pinch myself sometimes that I'm not living down south.

I know what you mean mate.

Decent 2 beds at £250k in the south, yet here in Sheffield what do we find?

http://www.rightmove.co.uk/viewdetails-382...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-101...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-644...pa_n=2&tr_t=buy

Utterly bonkers.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.