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You Ain't Seen Nothing Yet

Looking Through 1995 Local Newspaper, East Midlands Property

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I was just sorting out some rubbish and came across an old local paper from '95. Firstly it was depressing to think, '95 was nearly 20 years ago!

I started looking at the prices then and now. It would be interesting to know the ratio to salaries comparing 1995 to 2014.

Anyway, a quick random look at Zoopla brought up this:

7 Pentland Road, 5 bedroom detached, Ashby '95 price - £145,000
Today: £424,928
85 School Street, Oakthorpe, '95 price - £75,000
Today: £239,052
On the following page is an article 'positive light amidst the gloom', where they compare the property market in '95 against the late 80's.

newspaper.jpg

post-16851-0-29478000-1403199816_thumb.jpg

Edited by You Ain't Seen Nothing Yet

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If prices had risen at the same rate as average wages id have a nice house!

Pity theyve gone up at the same rate as bankers and high end public sector wages.

Edited by Corruption

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I was just sorting out some rubbish and came across an old local paper from '95. Firstly it was depressing to think, '95 was nearly 20 years ago!

I started looking at the prices then and now. It would be interesting to know the ratio to salaries comparing 1995 to 2014.

Anyway, a quick random look at Zoopla brought up this:

7 Pentland Road, 5 bedroom detached, Ashby '95 price - £145,000
Today: £424,928
85 School Street, Oakthorpe, '95 price - £75,000
Today: £239,052
On the following page is an article 'positive light amidst the gloom', where they compare the property market in '95 against the late 80's.

Interesting post.

They were asking £285k though!

http://www.zoopla.co.uk/property-history/85-school-street/oakthorpe/swadlincote/de12-7re/29414776

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Crikey, yes you're right Sadman, even worse than I suspected. If only I'd scraped enough deposit down when I was 18.

Same paper - jobs section : Not many skilled jobs listed. Only one displays a wage : a part-time clerical assistant working for the district council - 10k per year pro rata, 285 hours p.a.

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even more horrifying if you go back to the 70s

bought my first house for 8.5k in 1977 - a terraced house in Worcester - these are now going for about 175K

my salary as a computer programmer/analyst was circa 4K - so borrowed twice my income (income tax rates higher then), made a deposit of 900 (10% saved with the BS ) and was interviewed at length

the interest rate was 9.75% :o

had no cooker for a while and the furniture and white goods were all secondhand

if the same rules/IRs applied now there would be reasonable house prices IMO.

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3 bed semis for less than £48k. A flat for £19k. Makes me weep.

I think I still have a property guide for Norwich and surrounding areas from 2001. Must scan and upload it sometime. :)

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my salary as a computer programmer/analyst was circa 4K

Wow, an oldschooler. Don't tell me, COBOL?

Hey, thanks for the millenium bug by the way, I must start integrating something for the next generation to fix, got to look after our own, eh?

STOP RUN.

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Crikey, yes you're right Sadman, even worse than I suspected. If only I'd scraped enough deposit down when I was 18.

Same paper - jobs section : Not many skilled jobs listed. Only one displays a wage : a part-time clerical assistant working for the district council - 10k per year pro rata, 285 hours p.a.

Looks like it didnt even sell for £75k in 1995...rather they had to wait until 1996 and accept £60k.

http://www.zoopla.co.uk/property/85-school-street/oakthorpe/swadlincote/de12-7re/6430728

So it looks like it nearly quadrupled in price between 1996 and 2006 (£235k) and didnt sell last year. My guess is it would have trouble selling for £235k again.

so 1996-2006, x4

2006-2016, zero price growth?

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Wow, an oldschooler. Don't tell me, COBOL?

Hey, thanks for the millenium bug by the way, I must start integrating something for the next generation to fix, got to look after our own, eh?

STOP RUN.

indeed COBOL, Machine code, ICL or IBM, coding sheets and punch cards (or paper tape), the operators wore white coats (delicate machines) and the millenium bug was not our fault, when asked about the millenium year. ending in 00 we were told not to worry - the system will have been replaced by then

happy days

Edited by olliegog

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COBOL I learnt, Assembler yes (machine code? a dozen instructions maybe, lifes too short!), but punch cards... Now that's a different and alien era!

You know I'm ribbing about the bug, not a bug at all in fact. If I'd worked out it could be a problem as a 12 year old in 1985, I'm sure it hadn't escaped the notice of a single professional beforehand.

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1995, I was earning about 450 quid a day computa contracting and working all the days god sent; used to pay around 23% of that to the govt. as tax and NI.

Bought my first house, a 2 bedder in the SE which cost 50K. Put 25% down and paid the rest off by the end of the year. Everyone told me I was mad to buy, housing was finished, prices were set to be in the doldrums for decades, better to rent, blah blah blah. The same people who'd told me to get in and fill me boots in 1988 in fact and who'd nearly all ended up in crippling -ve equity.

Anyway fast forward to 2014 and I just got offered a senior permie role, 45K/euros per annum. I'd be paying over 40% of that to a different govt.

Edited by davidg

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1995, I was earning about 450 quid a day computa contracting and working all the days god sent; used to pay around 23% of that to the govt. as tax and NI.

Bought my first house, a 2 bedder in the SE which cost 50K. Put 25% down and paid the rest off by the end of the year. Everyone told me I was mad to buy, housing was finished, prices were set to be in the doldrums for decades, better to rent, blah blah blah. The same people who'd told me to get in and fill me boots in 1988 in fact and who'd nearly all ended up in crippling -ve equity.

Anyway fast forward to 2014 and I just got offered a senior permie role, 45K/euros per annum. I'd be paying over 40% of that to a different govt.

reinforcement of the old anecdote that walk into any IT dept and shout 'Dave' and lots of heads would perk up (except the women of course)

I was also a contractor in the late 80s/90s but working on manufacturing / utility systems so not as well paid (where are those jobs now) but IR35 scuppered the market for me as well as disenchantment on the hours and the hassle and the commuting.

good money though - except the double whammy of two lots of NI (now tell me that some of us have not paid enough in) :wacko:

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If one was locked in a prison for 20 years, and had to choose between owning a house or the same amount in the bank what would you do ?

Look at the pictures, its the same bricks, the same windows, even the Vauxall Calibra is still probably running today!

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I remember you Davidg - didn't you end up in Geneva in the end? If so that's one expensive place to live! Seems '95 was your year, with a smart investment to boot.

I did all the COBOL stuff at Uni, then onto machine code, C++, Java and the like. They were training people to come out of Uni with jobs to work on the millennium bug, but I don't know anyone who went down that road. I scored straight A's in all the programming stuff, but my heart wasn't in it. Ended up self-employed in Paris doing something altogether different!

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3 bed semis for less than £48k. A flat for £19k. Makes me weep.

I think I still have a property guide for Norwich and surrounding areas from 2001. Must scan and upload it sometime. :)

A while ago in a local history display I saw 1930s ads for houses on what's called the Ham estate in Kingston - a load of mostly mock Tudor semis and terraced, , 3 and 4 bed but sizes differing quite a lot.

Cheapest was something like £595, most expensive £950* odd. It said, 'A £5 deposit secures any house!'

The cheapest ones are pretty tiddly, 3rd bedroom is what used to be called a box room, now more usually called a 'study'. About six foot by eight, IIRC from current EA ads.

For these larger ones you can now often multiply by 1000, though many have extensions or loft conversions or both. Smallest now have APs of anything from about £425-500k+, depending on condition and extensions.

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A while ago in a local history display I saw 1930s ads for houses on what's called the Ham estate in Kingston - a load of mostly mock Tudor semis and terraced, , 3 and 4 bed but sizes differing quite a lot.

Cheapest was something like £595, most expensive £950* odd. It said, 'A £5 deposit secures any house!'

The cheapest ones are pretty tiddly, 3rd bedroom is what used to be called a box room, now more usually called a 'study'. About six foot by eight, IIRC from current EA ads.

*For these larger ones you can now often multiply by 1000, though many have extensions or loft conversions or both. Smallest now have APs of anything from about £425-500k+, depending on condition and extensions.

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Op pretty much corresponds to my opinion that house prices are about three times 1995..........this was, of course, a post war nadir in house prices in relation to incomes. So much for previous Tories creating house price inflation, John Major left a dream legacy for wage power over wealth power.

Of course it changed very quickly under Blair and by 2004 in the East Midlands we had got to where we are today in NOMINAL TERMS.

If you want to calculate the average detached property in the East Midlands it is a simple tripling every decade since 1964 and ten years of nothing( well a crash and then a rally back to square 1 2004)


1964.....3000
1974.....9000
1984....27000
1994....81000
2004..243,000
2014..243,000

Ten years of nothing is a deflating bubble not a boom. Those figures work for me on property I have transacted or my parents transacted over the last 50 years in the East Midlands anyway.

Edited by crashmonitor

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I was working in Leicester as a new grad on £14kpa in 1994. I looked a buying in the area at the time, £55K would have got a 3-bed semi.

Instead, I moved to the US and tripled my salary. Even then, good houses in an area I would have liked to have lived in were £300K so I still couldn't afford to buy anywhere.

I came back in 97 when UK prices were very low and I thought I had better get in quick and bought a lovely house. I was obsessed by house prices even then.

My timing for buying has always been pretty good. I sell too early though.

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Yep, a tripling since 95 for most areas is about right. A few areas rather worse than that.

I remember cottages being around £24K around here in the mid 90s. Now they are generally well over £100K.

In Chester, I remember my landlord trying to flog me his terrace house for £50K in about 96. On my salary of £12K it was, of course, impossible. Now they go for £190K.

For the really insane rises, however, there's London. Someone once told me you could buy flats in Bow Quarter for £40K in the mid 90s. They were already hovering around the £100K mark in 2000 when I first moved to London if I remember correctly (already too expensive on my then salary of £25K). Now they are closer to £350-400K.

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