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Certainly not bad news, but still largely local / confined to the top of the market so I think the bubbly needs to stay in the fridge for a while longer!

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The number of these articles is definitely building. And from the article:

"double-digit price falls over the past year include Hammersmith and Fulham, where the average property value dropped 19%, from £1.08m to £873,000."

I know the area. I know the kids of the boomers who own these houses (well, some of them!). They have good jobs but could never afford their parents' houses or those of others so, in the absence of speculators buying them, this does not surprise me.

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My parents village is chocablock full of boomers rattling around in nice sized fit for purpose family homes whilst their children rent rooms in house shares (from said boomers) or rent a flat where they bring up their own children or if they’re really lucky rent a pokey little shtbox of a house where they raise a growing family in cramped conditions whilst both parents work their asses off full time to pay the rent and juggling school runs nursery and all that bull etc.

Meanwhile said boomers rattling about in real family homes were mainly single working parents, one of whom had the time to stay at home and raise the children and manage the house.

 

one of these boomers has put his big family home up for sale for £925k. The average wage locally is probably 25k or something and that’s being mega generous 

 

my wife and I are both in the top 5% of earners with a young family and would love a family home but unfortunately we can’t get a hold of £925k right now so won’t be making an offer

 

but I’m sure there must be LOADS of families in the area looking for a family home who will be able to save up 10k a year net of their 50k gross who will be able to snap up a bargain in ninety two years time 

Edited by thewig

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21 minutes ago, thewig said:

My parents village is chocablock full of boomers rattling around in nice sized fit for purpose family homes whilst their children rent rooms in house shares (from said boomers) or rent a flat where they bring up their own children or if they’re really lucky rent a pokey little shtbox of a house where they raise a growing family in cramped conditions whilst both parents work their asses off full time to pay the rent and juggling school runs nursery and all that bull etc.

Meanwhile said boomers rattling about in real family homes were mainly single working parents, one of whom had the time to stay at home and raise the children and manage the house.

 

one of these boomers has put his big family home up for sale for £925k. The average wage locally is probably 25k or something and that’s being mega generous 

 

my wife and I are both in the top 5% of earners with a young family and would love a family home but unfortunately we can’t get a hold of £925k right now so won’t be making an offer

 

but I’m sure there must be LOADS of families in the area looking for a family home who will be able to save up 10k a year net of their 50k gross who will be able to snap up a bargain in ninety two years time 

I  am a million miles away from being a communist , but there is just something wrong about all of this. Big houses with plenty of bedrooms are for families, that's the end of it. But there always seems to  be these sweet old Guardian readers that pretend to care about their poor struggling offspring that fight the hardest to remain in them until their last breath, and I might add they are the first to moan about falling house prices too

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36 minutes ago, localhero1983 said:

I  am a million miles away from being a communist , but there is just something wrong about all of this. Big houses with plenty of bedrooms are for families, that's the end of it. But there always seems to  be these sweet old Guardian readers that pretend to care about their poor struggling offspring that fight the hardest to remain in them until their last breath, and I might add they are the first to moan about falling house prices too

Your views are reasonable and not communist. The issue here is that the supply of land with planning permission is restricted by a government. That's not all of the issue but it's clear to me that if all the family homes are occupied by boomers young families should be free to build their own homes, villages and communities. To allow that freedom is free market liberalism. To prevent it through central planning is more towards communism imho.

There's a further issue with misallocation of property Which is difficult to resolve. 

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1 hour ago, localhero1983 said:

This is how brainwashed we all are, house prices could drop -30% nationally and they  still wouldn't be good value.

I think only a 70% drop would and at the same time i need to be able to get a mortgage and need low interest rates, i guess thats asking a bit too much.

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2 minutes ago, prozac said:

I think only a 70% drop would and at the same time i need to be able to get a mortgage and need low interest rates, i guess thats asking a bit too much.

With a 70% drop, a reasonable current deposit would virtually buy a property cash. 

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11 minutes ago, prozac said:

I think only a 70% drop would and at the same time i need to be able to get a mortgage and need low interest rates, i guess thats asking a bit too much.

If we got a 70% drop I could buy outright or take out a smallish mortgage with what I have in cash and get that dream smallholding, dare I dream🙂

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2 hours ago, thewig said:

My parents village is chocablock full of boomers rattling around in nice sized fit for purpose family homes whilst their children rent rooms in house shares (from said boomers) or rent a flat where they bring up their own children or if they’re really lucky rent a pokey little shtbox of a house where they raise a growing family in cramped conditions whilst both parents work their asses off full time to pay the rent and juggling school runs nursery and all that bull etc.

Meanwhile said boomers rattling about in real family homes were mainly single working parents, one of whom had the time to stay at home and raise the children and manage the house.

 

one of these boomers has put his big family home up for sale for £925k. The average wage locally is probably 25k or something and that’s being mega generous 

 

my wife and I are both in the top 5% of earners with a young family and would love a family home but unfortunately we can’t get a hold of £925k right now so won’t be making an offer

 

but I’m sure there must be LOADS of families in the area looking for a family home who will be able to save up 10k a year net of their 50k gross who will be able to snap up a bargain in ninety two years time 

They can live like this because their pensions are so generous. Bailed out in 2008 too.

Market crash that wipes out the pension funds and suddenly they will want to downsize, so they can eat.

 

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4 minutes ago, TwoWolves said:

They can live like this because their pensions are so generous. Bailed out in 2008 too.

Market crash that wipes out the pension funds and suddenly they will want to downsize, so they can eat.

 

It's a thought that often goes through my head, does not take much for a society to suddenly start valuing food over property, and hugely sometimes. I still am amazed as a big foodie what I can come out with at Lidl for just £50, we are living in paradise and we don't know it in most cases. I am actually on a massive health kick right now which includes zero alcohol, just writing this posts makes me realise how cheap a good Malt whiskey is right now and maybe I need to neck a little more before it's all too late🙂

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As a bit of a petrolhead it's interesting to see exactly the same scenario in the car market... the very top end of the classic/performance/exotic car market is taking quite a bath right now, but anything more attainable is still on at bubble prices with sellers prepared to wait for some debt junkie mug to come along and pay their price

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6 hours ago, localhero1983 said:

It's a thought that often goes through my head, does not take much for a society to suddenly start valuing food over property, and hugely sometimes. I still am amazed as a big foodie what I can come out with at Lidl for just £50, we are living in paradise and we don't know it in most cases. I am actually on a massive health kick right now which includes zero alcohol, just writing this posts makes me realise how cheap a good Malt whiskey is right now and maybe I need to neck a little more before it's all too late🙂

I’ve said many times before, we import 50% of our food as we don’t have the land for a sustainable population.. We have also killed 70% of our pollinating insects.. 

But we want more immigration and more building/concrete..? ☹️

I cant understand how everyone’s brains work?

We need to shrink our population, this was happening naturally before immigration with U.K. birth rates below replacement levels.. I could have been great.. 

less cars

less pollution

cheap housing

= better life

But that’s not what the rich want.. they want slaves to exploit.. 

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5 minutes ago, macca13 said:

I cant understand how everyone’s brains work?

Many of the people pushing these things are retards. Sorry, 'useful idiots'.

Others only care about short-term gain and plan to be in a bunker in New Zealand by the time things collapse.

Others actively want to destroy the country. Many of them are part of groups started by the KGB to destabilize the West, which have been running on autopilot since the Berlin Wall fell. Others are just hate-filled assholes, and/or expecting to profit from short-selling Britain.

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1 hour ago, macca13 said:

I’ve said many times before, we import 50% of our food as we don’t have the land for a sustainable population.. We have also killed 70% of our pollinating insects.. 

But we want more immigration and more building/concrete..? ☹️

I cant understand how everyone’s brains work?

We need to shrink our population, this was happening naturally before immigration with U.K. birth rates below replacement levels.. I could have been great.. 

less cars

less pollution

cheap housing

= better life

But that’s not what the rich want.. they want slaves to exploit.. 

I know, and we always get the Scottish, Irish and Welsh in our faces telling us how racist and xenphobic we are, yet they all have populations of 5 million or less, loads of space if they want it, we are struggling in England with close to 60 million. I am seriously wanting to head to Northumberland, unspoken spacey little rural paradise, but keep it to yourself🙂

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2 hours ago, macca13 said:

I’ve said many times before, we import 50% of our food as we don’t have the land for a sustainable population.. We have also killed 70% of our pollinating insects.. 

But we want more immigration and more building/concrete..? ☹️

I cant understand how everyone’s brains work?

We need to shrink our population, this was happening naturally before immigration with U.K. birth rates below replacement levels.. I could have been great.. 

less cars

less pollution

cheap housing

= better life

But that’s not what the rich want.. they want slaves to exploit.. 

They are doing this to increase the value of assets, the problem is it cannot be done forever, one day property prices will crash, and that day is open us.

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13 hours ago, localhero1983 said:

I  am a million miles away from being a communist , but there is just something wrong about all of this. Big houses with plenty of bedrooms are for families, that's the end of it. But there always seems to  be these sweet old Guardian readers that pretend to care about their poor struggling offspring that fight the hardest to remain in them until their last breath, and I might add they are the first to moan about falling house prices too

I don't know about where you live but where I live there is a lack of 'suitable' homes for older people or smaller families. The majority of smaller houses are terraces in undesirable areas with anti-social behaviour problems, not many bungalows or those rip-off 'over 55' flats. If it's not one of those it's a 3+ bedroom 'family' house, so where else are they supposed to live?

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5 hours ago, macca13 said:

I cant understand how everyone’s brains work?

Maybe some do understand very well and use that knowledge to condition the rest of us?

 

 

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7 hours ago, MarkG said:

Many of the people pushing these things are retards. Sorry, 'useful idiots'.

Others only care about short-term gain and plan to be in a bunker in New Zealand by the time things collapse.

Others actively want to destroy the country. Many of them are part of groups started by the KGB to destabilize the West, which have been running on autopilot since the Berlin Wall fell. Others are just hate-filled assholes, and/or expecting to profit from short-selling Britain.

Have a look on the web and see if you can find, "things you should know about NZ before taking a holiday there" and a similar one about moving and/or working there.  If it's even partly true you wouldn't bother to make the trip.

I thought it was supposed to be paradise. Then again it's just the opinions of the people who posted, I have no idea how accurate or not it might be. A relative who visited it loved it and was delighted that an earthquake delayed the return trip by a few days.

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I've spent some time in New Zealand, which is why I don't understand why all these Bond-villain fat-cats are apparently building bunkers there to survive the coming economic collapse. The locals won't like them and their post-apocalyptic Chinese overlords will just steal their stuff.

And, yeah, a friend went there for business a few years ago, and shortly after he came back he was showing us pictures of a shopping mall that had just been demolished by an earthquake and telling us he was shopping there a couple of weeks before.

Edited by MarkG

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15 hours ago, localhero1983 said:

I know, and we always get the Scottish, Irish and Welsh in our faces telling us how racist and xenphobic we are, yet they all have populations of 5 million or less, loads of space if they want it, we are struggling in England with close to 60 million. I am seriously wanting to head to Northumberland, unspoken spacey little rural paradise, but keep it to yourself🙂

But no jobs.You might as well be living in the outback

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  • 297 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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