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SarahBell

Calling The Top

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This is my recent example of peak prices.

http://www.rightmove.co.uk/property-for-sale/property-52651699.html

A nice enough 3 bed semi on the outskirts of a city.

Priced at nearly HALF A MILLION POUNDS.

Someone on £100k a year couldn't buy this house.

Friend of a friend just sold a similar place about a half mile south of there. Both Indian doctors at addenbrookes on good salaries.

Not really a fitting property for earners in the top 1% or so, but thats reality I guess.

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What about this greed:

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=52374257&sale=54492449&country=england

29 Jul 2015

Detached, Freehold

£383,000 Land Registry

On the market now for £550,000K

http://www.rightmove.co.uk/property-for-sale/property-56956256.html

It did need full renovation to be fair. Not sure worth £167K worth though.

Edited by Fairyland

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Funny you should mention that, there was a 'loft apartment' on Church Street in SN on Location Location Location (yes, I know, I can't help but watch it!) last night. Think it was about £425k for a one-bedroomed flat with absolutely no headroom as the roof cut into every room!

And bizarrely, the punter actually liked it and thought it was good value! Mental...

Edit - oops, just noticed there's already a thread on it!

Edited by Maroonaldinho

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There's a few folk saying northern prices are at the same level.. They've clearly not seen the 4 or 5 bed bungalow for just under half a million in a dodgy part of south manchester lol. Good luck with that one.

Please post RM link :)

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Friend of a friend just sold a similar place about a half mile south of there. Both Indian doctors at addenbrookes on good salaries.

Not really a fitting property for earners in the top 1% or so, but thats reality I guess.

And that's why I still rent.

Never give up:never give in.

HPC till I die.................. (or freeze to death in a box in old age)

Nx

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Please post RM link :)

http://www.rightmove.co.uk/property-for-sale/property-54631634.html

http://www.manchestereveningnews.co.uk/news/nostalgia/nostalgia-how-whalley-range-went-10734120#ICID=sharebar_facebook

it's had an upstairs built for extra 2 beds. I believe the bad part of that area is a bit further NE but it's classified in that area none the less

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http://www.rightmove.co.uk/property-for-sale/property-54631634.html

http://www.manchestereveningnews.co.uk/news/nostalgia/nostalgia-how-whalley-range-went-10734120#ICID=sharebar_facebook

it's had an upstairs built for extra 2 beds. I believe the bad part of that area is a bit further NE but it's classified in that area none the less

It's ok there. Most big house not yet had the multi-occupancy chop job done on them. However you are right in that the price is silly, I just don't think it's actually dodgy. Good for Chorlton (expensive) and Didsbury (chopped totally).

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http://www.rightmove.co.uk/property-for-sale/property-54631634.html

http://www.manchestereveningnews.co.uk/news/nostalgia/nostalgia-how-whalley-range-went-10734120#ICID=sharebar_facebook

it's had an upstairs built for extra 2 beds. I believe the bad part of that area is a bit further NE but it's classified in that area none the less

Jesus

£4500/m2

WTF

Edited by 25 year mortgage 8itch

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There's a few folk saying northern prices are at the same level.. They've clearly not seen the 4 or 5 bed bungalow for just under half a million in a dodgy part of south manchester lol. Good luck with that one.

Some of the hpcers who keep claiming values are dead in these 'crashed' areas for past 8 years (thus value) are still waiting for the HPI ripple, casually mentioning the £350K Nottingham bungalows. Some of us are waiting for the real HPC.

I note a small bungalow has just gone under offer a couple of doors down from where I live, the asking was 370k and it has been on for about a year. I do think this suggests the ripple is finally reaching the North Midlands. I didn't expect it to sell, but actually there isn't that much left for sale at the moment in my village near Nottingham.

--

That all depends on where in the country you live, I doubt the cash savers of Nottinghamshire, Derbyshire, Lincolnshire and Yorkshire are too fussed with house prices pretty close to where they were ten years ago and fixed rate bonds of 7% available in 2007.

The only thing that has cataclysmically devalued is northern provincial housing, not the cash.

... like we're all earning 7%......

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Great thread name "Calling The Top"

I'm wondering if this really is IT. The housing market. Down she blows... I am beginning to think so... There's just no more petrol left to throw on the fire. Quote me on it. B)

Edited by ZeroSumGame

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If we are #turningjapanese then this is it.

We'll probably know within 3 years.

If yes expect 15-25 years of zero inflation and asset prices to collapse over time.

On verra.

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This is my recent example of peak prices.

http://www.rightmove.co.uk/property-for-sale/property-52651699.html

A nice enough 3 bed semi on the outskirts of a city.

Priced at nearly HALF A MILLION POUNDS.

Someone on £100k a year couldn't buy this house.

This one sold. Really quickly.

One of my neighbours has their house on the market for £360k. £35k more than the last house to sell and £110k more than my house was valued at in 2014.

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This one sold. Really quickly.

One of my neighbours has their house on the market for £360k. £35k more than the last house to sell and £110k more than my house was valued at in 2014.

Christ on several bikes.

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I stopped looking for somewhere to buy in London a few months ago (my wife really wanted to buy somewhere but was finally convinced against it when we started viewings), but I'm still signed up to email alerts from a few estate agents.

Yesterday I got a new one I've not seen before, with an email blast looking for a "cash buyer needed to complete before 31st March". I wonder why that is...

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Cash Buyer ?

Offer them 30% of the asking price and tell them you have the cash.... ;)

I did have the "cash" a few months ago, via a planned loan from my parents, but once we decided not to buy, those funds have been used to lend to my sister instead, who is buying in battersea of all places!

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If we are #turningjapanese then this is it.

We'll probably know within 3 years.

If yes expect 15-25 years of zero inflation and asset prices to collapse over time.

On verra.

If there are 15-25 years of zero inflation, interest rates will similary be zero (or negative) and money will be "free".

houses will be a safe bet (very low int payments, easy capital repayments). Not least cause demand is almost guaranteed to exceed supply & wages are steadily rising

You really do have weird, conflicting views on turning japanese & house / asset / bond prices based on 1 sample of a country which bears zero resemblance to any other and nothing like UK

Since 2009 this seemingly obsessional bet has lost you a relative fortune & we are only a few years into this credit cycle.

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Guest

I did have the "cash" a few months ago, via a planned loan from my parents, but once we decided not to buy, those funds have been used to lend to my sister instead, who is buying in battersea of all places!

Do you love your sister? Are you going to tell her to steer clear of SW8, or any purchase for that matter!?!?!

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We've witnessed the 'crash' thru the lens of the vast range of extraordinary supports thrown at the market.

Does 40% help-to-buy government loan represent 'peak support'?

Gidiot's spring budget should answer that question.

Given his Super Keynesian credentials, one suspects not.

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Do you love your sister? Are you going to tell her to steer clear of SW8, or any purchase for that matter!?!?!

It's not quite as bad as it sounds. They already own there, and the place next door has become available, so they will knock the walls down and create a bigger place. It is a bit of a unique opportunity so I am choosing not to fight it.

Plus I already burned by credibility by advising her (at length) not to buy her first place in 2011. We stopped speaking for a few months as I tried to warn her in every conversation. I was very wrong, and she has done very well out of it. So I gave up this time, as I was sick of being the family HPC-bore.

I did tell her to sell her first flat a few months ago so she could cash in on the insane prices, but she has ignored me.

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