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TheCountOfNowhere

8 mile madness

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A couple of listings on right move for NN1+10 miles that show how ludicrous prices have become.

 

1 ) Olney, a nice town...4 bed terrace at an eye watering £700K

http://www.rightmove.co.uk/property-for-sale/property-66095918.html

 

2 ) Cosrgove, a nice village, 8 miles from Olney ( as the crow flies )

http://www.rightmove.co.uk/property-for-sale/property-66125132.html

11 bed mansion with paddocks with short frontage to the River Tove. In all about 21.33 acres (8.6 hectares).

 

 

Taxi from Cosgrove to olney, £10.

 

I've finally found a house to buy.  If I can olney ( excuse the pun ) get a 50 year 0% interest only mortgage i'm going for it.

 

TheCountOfCosrgove has a ring to it.

 

 

 

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6 minutes ago, maffo in oxford said:

That 2nd place actually looks worth the asking price!

Comes in about £140  per sq foot.  Peak 2007 bubble prices in Northants were about £220, that olney house looks about £500.

 

So in that respect it's probably the first decent buy we've seen in a long time.

 

It's just a shame 99% of the country can't afford to buy it.

 

 

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5 minutes ago, GreenDevil said:

700ks for a terrace in Northampton? WTF?

Sums up what I was thinking.  We must be very close to total collapse now.

2/3 million quid for a mid terrace in the midlands is bonkers, truly bonkers.

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24 minutes ago, maffo in oxford said:

The 22 acres of land is going to be around £4-500k besides the house? if you deduct that it's even better value!

Unproductive land is worth about £3-10K, so anythign between £60 and £220K.

It's oddly good value which makes me wonder what is wrong with it.

 

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12 minutes ago, dougless said:

Sums up what I was thinking.  We must be very close to total collapse now.

2/3 million quid for a mid terrace in the midlands is bonkers, truly bonkers.

It's Olney dontcha know, it has a wine bar, of sorts and it's a short hope to MK and the train into London ( where the streets are paved with I/O debt ), okay there's an hour traffic jam to get through it in the morning and night, but it's only a 40 minute commute on the train once you get to the station...if you can find parking.  You pay extra for this.

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18 minutes ago, dougless said:

Sums up what I was thinking.  We must be very close to total collapse now.

 

 

I was half listening to something on the world at one yesterday, a report about a steep rise in the commercial scale theft of wildflowers from woodlands, saying some bulbs were now fetching record high prices (thousands of pounds)... so it looks like the circle is complete and we are back to bulb mania.

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23 minutes ago, dougless said:

Sums up what I was thinking.  We must be very close to total collapse now.

2/3 million quid for a mid terrace in the midlands is bonkers, truly bonkers.

It has to be near the end. Going back 5 years when rubbish terraces in a sort of ok/just about passable part of London started going for a million, I thought this has to be it. But now 2/3 of a mill in the midlands for a terrace, when average earnings are what 25K for the area. It has to be the end.

Young folk coming through with 50K of uni debt. Their parents late 40s early 50s most of them are not on final salary so need to think about bolstering their pensions, I'm guessing BOMAD should be running out of steam in the next few years. I cant see another decade of this. he sooner property crashes and it is reviled as an asset for investment, and houses go back to being seen as homes, the better this country will become

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36 minutes ago, GreenDevil said:

700ks for a terrace in Northampton? WTF?

Olney is a nice place to live, short commute to Milton Keynes and far enough away from Northampton.

Even then, that particular house looks at least 2x overpriced. I sold a very nice 4-bed detached for £325K in Olney (for probate, not mine) in ~2009.

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10 minutes ago, VeryMeanReversion said:

Olney is a nice place to live, short commute to Milton Keynes and far enough away from Northampton.

Even then, that particular house looks at least 2x overpriced. I sold a very nice 4-bed detached for £325K in Olney (for probate, not mine) in ~2009.

Granted, Olney is nice, but that short commute is short in distance not on time these days. It's miles from the motorway too so only useful for anyone commuting by train on working in MK ( on £25K per annum :lol: ) 

The prices in 2009 were still 50% over priced...tells you all you need to know about the 500 per sq foot olney terrace.

 

 

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Ouch

 

http://www.rightmove.co.uk/property-for-sale/property-38238401.html

 

Not sure but that price might include the other building, which the new one doesn't.

 

Somewhere 3 extra bedrooms have appeared :lol:


Still, a bargain compared to Olney.

 

 

Edited by TheCountOfNowhere

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This appeared today..

£2.1M  inclduing the 3 bed house they've been tryign to sell fopr 750K for a while now.

 

http://www.rightmove.co.uk/property-for-sale/property-66133604.html

 

That's 30% up on last purchase prices.

NMot a bargain after all :lol::lol::lol::lol::lol:

 

 

Edited by TheCountOfNowhere

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36 minutes ago, TheCountOfNowhere said:

This appeared today..

£2.1M  inclduing the 3 bed house they've been tryign to sell fopr 750K for a while now.

 

http://www.rightmove.co.uk/property-for-sale/property-66133604.html

 

That's 30% up on last purchase prices.

NMot a bargain after all :lol::lol::lol::lol::lol:

 

 

Now I'm really confused.

 

So it has 8 bedrooms instead of 11, it sold, then within a day it's back on for 800k more?

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3 hours ago, dougless said:

Sums up what I was thinking.  We must be very close to total collapse now.

2/3 million quid for a mid terrace in the midlands is bonkers, truly bonkers.

Yep. Insanity. If I want to add an extra bedroom and a bigger garden I'm going to need to add 200k debt aged 55 to what I would have had to pay 2 years ago. Total crackpot cheap money mania. The country is ******ed. 

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