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The Most Bearest Article Of The Year!

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http://portal.telegraph.co.uk/property/mai...7/ixptop12.html

For sales negotiators, it can be like being a rabbit in the headlights. Kevin Whittaker, who has been marketing123 flats in The Albany, still had 65 left to sell last February.

By November, the figures had whittled only to 58, even though he is offering a trial rental period of six months, guaranteed two-year rental for investors, and available cash-back deals. Prices are £168,000 for one bedroom and £218,000 for two.

"We are trying to come up with new ideas. Buyers have an awful lot to choose from in Liverpool. It can only get worse, as there are many more flats coming to the market by 2008," he says.

:blink:

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"The
souring
of the inner-city dream has left a
glut
of empty, new-build apartments, affordable to few and situated in communities
bereft
of families. What now for the super-cool, urban living space that stands
empty?
Caroline McGhie reports on a
post-Sipps nightmare
"

http://portal.telegraph.co.uk/property/mai...7/ixptop12.html

SOURING - GLUT - BEREFT- EMPTY- POST-SIPPS NIGHTMARE

Such sweetness in these words.

http://www.devilducky.com/media/26599

:lol::lol::lol:

Edited by Realistbear

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Why can't the owners of these apartments just put the rent down to attract people in? It's not rocket science. 500 a month for a two room shoebox is just plain ridiculous.

the problem is investors can no longer cover even their interest only mortgages by dropping rents, is this a possible spark to ignite further falls.

Time will tell , fingers remain crossed.

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Looks like Gordon Brown has achieved his objective with 100% success. By luring builders into building thousands of flats which no one wants to buy in the post-Sipps era he has given the market place what it needs--a glut of affordable housing (when the HPC brings the prices down to affordable levels).

Gordon may be a lot wiser than we on HPC have been giving him credit for!

http://www.devilducky.com/media/26599

Edited by Realistbear

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Yes.

I guess the part about the "housing shortage" that these developers didn't understand had something to do with the "house" bit.

"The ability of the rental market to absorb so many will be severely tested," says Allsops.

People will come to dread these 2 bed closets.

Will we see these places being demolished so that they can build decent 3 and 4 bed houses for families?

Let's hope so.

Edited by BandWagon

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Looks like Gordon Brown has achieved his objective with 100% success. By luring builders into building thousands of flats which no one wants to buy in the post-Sipps era he has given the market place what it needs--a glut of affordable housing (when the HPC brings the prices down to affordable levels).

Gordon may be a lot wiser than we on HPC have been giving him credit for!

http://www.devilducky.com/media/26599

I have considerd this before too. Is he so deceitful that all along he has been enginering the rich and foolish into paying for the next generation of social houdsing.

But i just don't think he is that bright.

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Looks like Gordon Brown has achieved his objective with 100% success. By luring builders into building thousands of flats which no one wants to buy in the post-Sipps era he has given the market place what it needs--a glut of affordable housing (when the HPC brings the prices down to affordable levels).

Gordon may be a lot wiser than we on HPC have been giving him credit for!

http://www.devilducky.com/media/26599

If that is true he deserves a HPC gong at the next annual awards.

May I recommend Johnathan Ross hosts this.

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I have considerd this before too. Is he so deceitful that all along he has been enginering the rich and foolish into paying for the next generation of social houdsing.

But i just don't think he is that bright.

To be fair to GB I don't really see how he has engineered anything here. Agreed he has let the vi's run amock, but for the most part he has stood back from the housing market mania and let the bubble self inflate.

It seems inevitable that social housing will be a significant beneficiary of the HPC. Fair enough.

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Looks like Gordon Brown has achieved his objective with 100% success. By luring builders into building thousands of flats which no one wants to buy in the post-Sipps era he has given the market place what it needs--a glut of affordable housing (when the HPC brings the prices down to affordable levels).

Gordon may be a lot wiser than we on HPC have been giving him credit for!

Here's what I said back in August, warning folks against SIPPS

I'd hold fire on who is gonna truely benefit from this (long term). Ministers are already on record as saying this will be suitable for only the wealthy.......

....You have to ask why Gordon Brown, in the light of these examples AND his impeccable left wing roots, would willingly give money to the rich.

.....Gordie is not that keen on allowing you to escape tax at all. So why SIPPS? maybe the reason lies elsewhere?

Getting the rich to effectively provide cheap Council Housing for the poor might be just such a reason. Building Council Houses is clearly too expensive for the Gov : as Prescott said :"why are houses so bloody expensive to build in this country?" So why not get the private sector to do it for you: a kind of distributed housing association that the rich can subsidise.

Far fetched? Six letters : PFI/PPP

PFI/PPP or the Private Finance Initiative was viewed by some as Labour getting more private business friendly (Actually, it was just a cheap accounting trick to get gov debt off the balance sheet). Indeed, Jarvis once viewed PFI as a meal ticket from the government. Yet the past two years have seen its profits halve and its share price lose 99% (350-> 3.5p) of its value. They have since backed away from PFI. Some government gift.

Could the rich face a similar honeytrap with SIPPS? Government already has a say in what is and what is a fair rent*, as laid out in the Rent Act 1977, and they have also shown contempt for tax sheltered assets (ISAs). The big question therefore is, can they be trusted. Remember : this is a pension, not an ISA. You can't simply get your money back if the rules change.

Edited by Sledgehead

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Here's what I said back in August, warning folks against SIPPS

Very perceptive Sledgehead!

Gordon deserves credit for the HPC with the coming flood of flats coming onto the market cheap now that SIPPS has gone!

Edited by Realistbear

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Great stuff. There used to be a lot of chat on here about new build flats, and how they would drive the market down eventually. I think we got bored of talking about it. But in the end, the builders/developers problem have become clear for everyone to see.

I don't mind an excess of flats, perhaps all the boomers will move into them, freeing up ther houses! ;)

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I don't know much about building structures, but could these one and two bedroom flats be knocked through into four and five bed apartments? I think in old mill conversions the answer is yes because each floor was one open plan room for all the machinery, but perhaps not in the new build crap.

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Why can't the owners of these apartments just put the rent down to attract people in? It's not rocket science. 500 a month for a two room shoebox is just plain ridiculous.

£500 a WEEK in London. Ridiculously overpriced. Work out what you would have to be earning for that to represent a reasonable 30% of your weekly income, and then ask yourself if someone earing that kind of cash would really want to live in one of these places.

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If flats remain empty all over the place and the price drops to a realistic level I might buy a couple of flats next to each other and covert them into a large apartment. I like city living but want something a little bigger than two rooms.

Edited by FollowTheBear

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If flats remain empty all over the place and the price drops to a realistic level I might buy a couple of flats next to each other and covert them into a large apartment. I like city living but want something a little bigger than two rooms.

That's the crux of this problem.

In the cold light of day these appartments are simply not homes you would aspire to own and finance for 25 years.

The Yorkshire area is a great example of a city living regeneration opportunity missed.

Many of the old mills & steelworks were great architectural brownfield sites crying out to be transformed into aspirational living spaces.

Unfortunately many of the conversions were conducted by the 'changing rooms' team.

Sad.

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Why can't the owners of these apartments just put the rent down to attract people in? It's not rocket science. 500 a month for a two room shoebox is just plain ridiculous.

No-one wants to live there. Doesn't matter how low you go. Certainly in Leeds many of the new developments are huge soulless 15-20 storey blocks with no infrastructure and are quite intimidating at night.

Unfortunately the developers went for the highest cash-generative (at the time) type of building - 1 and 2 bed flats. These have a very limited market but the early-movers did ok. As usual with this game of financial musical chairs the late entrants are being left high and dry with the occasional false dawn like that Manoj character. This is the man who bought millions of pounds of unsold off-plan flats based on a thorough assessment of the demand generated by Leeds financial community "including the Bank of England". The BOE closed 90% of its operations in Leeds including their large office block 3 years ago. The majority of senior lawyers and accountants (the only people who could afford to pay 180k for a 2 bed flat) would no more live in Central Leeds than go to bingo.

The wind is whipping up my cybermates...

The Fox

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Great stuff. There used to be a lot of chat on here about new build flats, and how they would drive the market down eventually. I think we got bored of talking about it. But in the end, the builders/developers problem have become clear for everyone to see.

I don't mind an excess of flats, perhaps all the boomers will move into them, freeing up ther houses! ;)

I wouldn't mind mving into a nice, roomy flat in London when I'm older, if the price were right.

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I have considerd this before too. Is he so deceitful that all along he has been enginering the rich and foolish into paying for the next generation of social houdsing.

But i just don't think he is that bright

if this turns out to be true ill take my hat off and say godammit. and i will blindly vote laour for the rest of my life, knowing they are much smarter than me. i will stop thinking and let them lead on.

lets hope so and that he not just a dumbass whos got everyone into huge debt to prop up a retail economy..

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if this turns out to be true ill take my hat off and say godammit. and i will blindly vote laour for the rest of my life, knowing they are much smarter than me. i will stop thinking and let them lead on.

lets hope so and that he not just a dumbass whos got everyone into huge debt to prop up a retail economy..

To think that GB could have deliberately planned this is (please excuse me) rather stupid. GB has been a terrible politician, incapabale of controlling the public spending and he will probably never take over if there is a HPC.

There is no great plan in action here, just another bubble about to implode....

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  • 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%



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