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Elizabeth

Signs Of The Crash

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Well I reckon from the things I am seeing on rightmove (and all the bits and pieces that are starting to flood in here) that the ball is rolling (FINALLY).

My starting point - Margate. This time last year the cheapest piece of crap was 67K (and it really was crap). That was rock bottom. Now I am counting 14 under that price.

45 Thousand - margate flat

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Well I reckon from the things I am seeing on rightmove (and all the bits and pieces that are starting to flood in here) that the ball is rolling (FINALLY).

My starting point - Margate. This time last year the cheapest piece of crap was 67K (and it really was crap). That was rock bottom. Now I am counting 14 under that price.

45 Thousand - margate flat

Sorry but isn't all of Margate crap? Broadstairs is nice though.

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Sorry but isn't all of Margate crap? Broadstairs is nice though.

Yeah, your right. I was looking for something commutable to London. But it was grey and crap and horrible and the trains are unreliable... and still overpriced. Now it is grey and crap and horrible and the trains are still unreliable, so even though it is starting to look affordable, I'm simply not that desperate.

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Elizabeth

I'm going for Rightmove's reported 0.9% increase in the first week of Jan 06 (wiping out the implicit 0.8% fall in the last 3 weeks of Dec 05) as being the last gasps of VI nonsense before they start to report what we're all seeing in the real world...

Good thread idea, hope you get some more responses

Oh, and Ive seen a new build in Finchley N12 which has shown a £50 "profit" on resale in around a year - will post it here when I find it again on Nethouseprices

Edited by mxs

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Found it! Nice flip (or should that be flipping nice!)

100

Flat 701 Kingsway,

Barnet,

London,

Greater London,

N12 0EQ £250,000

Flat

Leashold

Build status not stated 27-Sep-2005

100

Flat 701 Kingsway,

Barnet,

London,

Greater London,

N12 0EN £249,950

Flat

Leashold

Build status not stated 01-Jul-2004

Oh, and have a look at the Basingstoke thread over on HPC 2 for some more of the same only worse.

Basingstoke Crap

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I'm going for Rightmove's reported 0.9% increase in the first week of Jan 06 (wiping out the implicit 0.8% fall in the last 3 weeks of Dec 05) as being the last gasps of VI nonsense before they start to report what we're all seeing in the real world...

Does that include countless £999,999,999,999 priced properties, of course nothing like that could ever skew the index, *cough*.

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Does that include countless £999,999,999,999 priced properties, of course nothing like that could ever skew the index, *cough*.

Nothing like buying by the Sea side. Prices are bouyant on the Romney Marsh. Its one of the safest places to live in the country. Have a look at right move for it. Tap in New Romney Dymchurch and st Mary's Bay.

I was hanging on and got fed up. Bought for 140k nine months ago and selling now for 170k.

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Rather than a knee jerk "AWOOGA" which would be my first on this site in over a year, I will be gentlemanly and wish you all the best with your sale.

Be sure to post back on here and share the good news once you have got your 170k.

:lol:

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I really urge everyone to have a look at the latest Halifax report. It's the best and clearest indication of a correction that I have seen since I joined HPC (Septemberish 2005). Don't look at the headline national figures but at the county analysis given at the end of the "UK Overview".

http://www.hbosplc.com/economy/quarterlyregionalcomments.asp

You will see the geography of the price slump in 2005 set out.

Very broadly the Midlands and southwards saw nominal falls between -1% and 10% (so you can add inflation to that). This was counterbalanced by big rises in Northern Ireland, Scotland and other regions to the North.

Here's a flavour:

2004 - 2005 % change

County Londonderry +15%

Fife +11%

Highland +8%

County Fermanagh +6%

Cumbria +4%

South Yorkshire +1%

Bedfordshire 0%

Lincolnshire -1%

Essex -2%

Gwent -3%

Leicestershire -4%

Worcestershire -5%

Devon -6%

West Sussex -7%

Somerset - 10%

The correction is happening and as the northern boom fizzles out it will gradually extend to the rest of the country.

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Well I reckon from the things I am seeing on rightmove (and all the bits and pieces that are starting to flood in here) that the ball is rolling (FINALLY).

My starting point - Margate. This time last year the cheapest piece of crap was 67K (and it really was crap). That was rock bottom. Now I am counting 14 under that price.

45 Thousand - margate flat

And posting right back to myself - further on the Margate obsession, I posted this in mid November.

One of the Last or one of the first?

The property was billed as:

"Probably one of the last remaining sub £50,000 flats in the South East!!"

You think?

At the time it was the only thing other than the towers.

EDIT:

EFFING L. when was the last time you saw anything in west london for under 125?

YOu now can live in a studio for 114K

Shepards Bush studio

Another good night for the rock bottom (for now anyway)

SORRY. I have read all the considered arguements re: house price cycle, but on the strength of that I don't think it is going to be a six year cycle. I give it 3 months and then I reckon it is going to be a 2 year rout.

Edited by Elizabeth

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Yeah, your right. I was looking for something commutable to London. But it was grey and crap and horrible and the trains are unreliable... and still overpriced. Now it is grey and crap and horrible and the trains are still unreliable, so even though it is starting to look affordable, I'm simply not that desperate.

Where else are you considering? I am leaning towards uckfield + 10 miles radius. Comparative good value to other commuting areas with beautiful countryside and within easy reach of the coast.

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Where else are you considering? I am leaning towards uckfield + 10 miles radius. Comparative good value to other commuting areas with beautiful countryside and within easy reach of the coast.

Actually total escape from the ratrace. I was leaning towards Devon. Lovely country side, warmer than most of England and will probably be the first to go pricewise (I follow apom's posts with great interest).

I reckon its first in last out with this one. The places that took longest to kick off (underlying lower level of economic base to develop and sustain bubble) will also be the places that go in a blink (see Margate!). Also has good clay and more hippies! Just waiting and keeping an eye out for jobs.

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SORRY. I have read all the considered arguements re: house price cycle, but on the strength of that I don't think it is going to be a six year cycle. I give it 3 months and then I reckon it is going to be a 2 year rout.

I like the idea and the economists probably don't, however the biggest boom in history will quite naturally be followed by the biggest bust and that's I guess your thought process. I find it hard to disagree that some unexpected things will happen and am prepared to rule nothing out. Saying that - people have to need to sell and that takes time so give it time.

As people are getting out of their financial difficulties they will take time and not want to lose the £20K extra they believed their house was worth.

Stormy Weather ahead for the U.K.

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Inside Track's adverts on LBC radio (hard to miss them in recent years, it seems to me) have started pointing folk towards the continent rather than UK BTL empires.

The lowlife barstewards also sent me some junk mail yesterday for the first time. Things must be getting tricky. I'd quote some of the testimonials, but I threw up all over them after getting halfway through the first.

According to their enticing graph, house prices have gone up 312% since '95 and the inference (though it's carefully not spelled out) is that it's bound to continue.

Sadly it's probably a bit late for Inside Track to suffer in the downturn, I'm sure they're very well padded by now. But if there's any spare suffering going round come the revolution, I'd quite like them to get it... just as a matter of principle.

Andrew McP

Edited by Andrew McP

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I've been tracking 2/3 BR houses < 80K within 10 miles of Cardiff (max distance/price I'm willing to pay in a couple of years time) on RightMove for around 6 months. Also doing the same for Bangor, North Wales.

The previously sceptical missus now joins me cheering everytime we are able to bring the radius distance in a little closer. In the last few weeks it's become possible to get somewhere within a 1 mile radius of Cardiff (admittedly Ely) for under 80K. And I've actually seen a 4BR place within 5 miles for under 80K.

Bangor has been a different story and I've been tracking it longer (maybe 2 years). In that time, I've even seen places in Maesg (well known scumville on the outskirts of Bangor - quite nice location though) rocket through the greencats' price barrier. After some hope over the summer, it went dead leading up to Xmas (one rabbit hutch in Deinolen - it you discount the holiday hamster cages made of fire-retardant wood). But now a small bunch of new properties have appeared.

So Cardiff - crash well underway I reckon. Bangor, North Wales - a little bit of life left in it (maybe). Even the bullish missus (bless her she believes what she sees in 2 year old property programmes) is now talking about stagnation.

She also had a nice anecdote to tell me - a co-worker (wife and family of 2 young children) is finding it difficult to make ends meet - bought a shared ownership place in the last years - and thinking about selling to get a smaller place as well as the wife going back to work. Feel a bit sorry for these - and others - who are now struggling to cope. But then me and the missus are living in a HMO dive to max out our saving for the next couple of years so we can "live the dream" in a few years time.

Edited by greencat

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Actually total escape from the ratrace. I was leaning towards Devon. Lovely country side, warmer than most of England and will probably be the first to go pricewise (I follow apom's posts with great interest).

I reckon its first in last out with this one. The places that took longest to kick off (underlying lower level of economic base to develop and sustain bubble) will also be the places that go in a blink (see Margate!). Also has good clay and more hippies! Just waiting and keeping an eye out for jobs.

Have and do consider the west country too. Could buy down there mortgage free but I am just not sure that I am brave enough!! I am not married, no kids so I imagine ending up being in my lovely cornish house by myself with no job thinking hmmm..... what to do now. Probably would end up an alcoholic :)

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Have and do consider the west country too. Could buy down there mortgage free but I am just not sure that I am brave enough!! I am not married, no kids so I imagine ending up being in my lovely cornish house by myself with no job thinking hmmm..... what to do now. Probably would end up an alcoholic :)

I have thought about that, don't drink (which in this case is a bonus!) and only know about 3 people on the points of Penzance, Southampton, Bath triange. But they are of the sort that would be quite nice to run into more often. After being pressed against other bodies not of my choosing daily for 45 minutes on the train and tube for the past 7 years, I think their is more human opportunity in a less crushed environment - anyway all the really good hippy gatherings happen in the countryside and unless you want to join an ashram (its a housing solution I am not keen on <_< ) then just being in a rural / townie environment is probably the best place for me. Just by accident, as I check out wotsup, I am expecting to meet an imperfect but suitably scruffy and genuinely engaging partner when I get there!!!

Inside Track's adverts on LBC radio (hard to miss them in recent years, it seems to me) have started pointing folk towards the continent rather than UK BTL empires.

The lowlife barstewards also sent me some junk mail yesterday for the first time. Things must be getting tricky. I'd quote some of the testimonials, but I threw up all over them after getting halfway through the first.

Andrew McP

Great scam. Shame about the gangsters (dont all the people trafficked prostitute slaves they bring into Britain come from that neck of the woods?).

Shame about the throwing up business. Was it a good meal ? ;)

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Rather than a knee jerk "AWOOGA" which would be my first on this site in over a year, I will be gentlemanly and wish you all the best with your sale.

Be sure to post back on here and share the good news once you have got your 170k.

:lol:

lol! :lol:

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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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