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MARTINX9

House prices fall 10% in Salisbury due to Novichok attack

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Will any future crash in the rest of the UK be blamed on the Russians too?

https://www.theguardian.com/money/2018/oct/15/salisbury-house-prices-fall-by-nearly-10-after-novichok-attack

'The average price of a home sold in the city in the three months from May to July was £299,207, down from £328,243 in the previous three months. The poisoning of Sergei and Yulia Skripal took place in early March.'

 

Edited by MARTINX9

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Just EA bullsh1t - the cause I mean.

Salisbury's one of those areas where, traditionally, a lot of people quit Lodon at ~30ish to maybe commute in.

No longer viable.

People in their 30s and 40s today would have been renting the last 10-15, so equity to leave.

And the train commute price and MM makes the the DH giving up his waking hours so wifey can play wifey no longer viable. Its 90m to Wloo, never mind getting the tube.

 

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3 hours ago, spyguy said:

Just EA bullsh1t - the cause I mean.

Salisbury's one of those areas where, traditionally, a lot of people quit Lodon at ~30ish to maybe commute in.

No longer viable.

People in their 30s and 40s today would have been renting the last 10-15, so equity to leave.

And the train commute price and MM makes the the DH giving up his waking hours so wifey can play wifey no longer viable. Its 90m to Wloo, never mind getting the tube.

 

I have observed this many times.  As house prices become ballistic people react by moving further away from centers of employment, as prices fall their is a gradual move back.  Add to this the cost, time and emotional impact of commuting and working near where you live, its natural that people will want to reduce their commute.  This is all before we look at the damage that commuting is causing to the environment but that is another topic.

Fortunately oil prices are on the rise so hopefully those rising fuel costs will put extra pressure on long distance commuters - its a perfect storm with house prices falling or stalling and travel costs rising.

Edited by dougless

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13 hours ago, MARTINX9 said:

Will any future crash in the rest of the UK be blamed on the Russians too?

https://www.theguardian.com/money/2018/oct/15/salisbury-house-prices-fall-by-nearly-10-after-novichok-attack

'The average price of a home sold in the city in the three months from May to July was £299,207, down from £328,243 in the previous three months. The poisoning of Sergei and Yulia Skripal took place in early March.'

 

Was going to say that it makes a change from blaming Brexit.

However, just had a read and its in there as one of the other "factors" in play 🙄

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3 hours ago, dougless said:

I have observed this many times.  As house prices become ballistic people react by moving further away from centers of employment, as prices fall their is a gradual move back.  Add to this the cost, time and emotional impact of commuting and working near where you live, its natural that people will want to reduce their commute.  This is all before we look at the damage that commuting is causing to the environment but that is another topic.

Fortunately oil prices are on the rise so hopefully those rising fuel costs will put extra pressure on long distance commuters - its a perfect storm with house prices falling or stalling and travel costs rising.

There's a few changes that make the (realively) long commutes into a Lodon/uy a big house i nthe sticks no longer viable.

1) Train fares have been rising at 3-5% above wages for the last 10 years or so. Its got to a point where the annual cost is pretty eye watering. Its not unusual ot hear of people spending ~10k of post tax income.

2) MMR removes that 10k (15K pre-tax) out of the mortgage caclulation. Commute costs negating the extra money of travelling into London.

3) There are les well paying jobs in London.

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6 hours ago, spyguy said:

There's a few changes that make the (realively) long commutes into a Lodon/uy a big house i nthe sticks no longer viable.

1) Train fares have been rising at 3-5% above wages for the last 10 years or so. Its got to a point where the annual cost is pretty eye watering. Its not unusual ot hear of people spending ~10k of post tax income.

2) MMR removes that 10k (15K pre-tax) out of the mortgage caclulation. Commute costs negating the extra money of travelling into London.

3) There are les well paying jobs in London.

Indeed, and rail reliability is only getting worse.

BBC News: Paddington station: Evening rush hour disruption expected

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  • 259 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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