Jump to content
House Price Crash Forum

Cultural Shift in housing after COVID.Bad news for flats


Recommended Posts

Some quite interesting news here

https://www.express.co.uk/life-style/property/1297891/housing-market-property-bungalows-renters-buyers-houses-flats-rightmove

It seems being cooped up for 3 months in a tiny cramped flat or room is giving people a severe bout of cabin fever.This looks like yet another kick in the nads for BTL to me!

So people want outdoor spaces/office and study rooms(working from home) and are now shunning "luxury apartments"

Coupled with the fact we haven't yet seen the worst of the post furlough unemployment/redundancies it looks like it's going to be an interesting few months.

Link to post
Share on other sites
2 hours ago, oracle said:

It seems being cooped up for 3 months in a tiny cramped flat or room is giving people a severe bout of cabin fever.This looks like yet another kick in the nads for BTL to me!

There are far fewer 2 bed houses for renters 3 bed houses are more expensive as so as people are able to get out as normal this will blow over

As a mate I have who used to be a news paper journo said - the things that sell papers are weather, property sport and sex.  

Link to post
Share on other sites
31 minutes ago, hughjass said:

Never seen the attraction of a flat, no garden , no putting washing out, service charge rip off, too close to halfwit neighbours.

I'm pretty sure you'll find that most people would prefer to live in a nice house with a garden close to work and decent schools.

But they can't afford that, hence we are posting on this website.

Link to post
Share on other sites

And the other big problem, there just aren't enough houses for everyone who wants one.  Not to mention that lots of the new build houses are squashed in with tiny gardens anyway. 

Anyway, surely people are happy to sacrifice quality of life for higher GDP? /s

Link to post
Share on other sites

Leasehold flats seem to me to be particularly poor value when compared to freehold property. Sure the freehold property is generally more expensive, but my feeling is that you get more for your money. Twice the house is not twice the price, if that makes any sense.

Certainly in the last downturn I saw it was the leasehold flat prices that tended to get hammered more than freehold properties. And "luxury" flats seem to be the worst hit.

Link to post
Share on other sites
1 hour ago, hughjass said:

Never seen the attraction of a flat, no garden , no putting washing out, service charge rip off, too close to halfwit neighbours.

I found it convenient for a couple of years in my footloose and fancy free early 20s: didn't want the bother of caring for a garden, had a balcony which was fine for the washing and saw no benefit to living in and thus being obliged to keep clean a larger space than I needed. Common enough view for people in that life stage, I suspect, but I'd had enough of it by the time I stopped. It has a shelf life.

Link to post
Share on other sites
3 hours ago, hughjass said:

Never seen the attraction of a flat, no garden , no putting washing out, service charge rip off, too close to halfwit neighbours.

+1. It's not the covid debacle that's turned me off flats as I have continued to work. I'm in a council flat and I'm really feeling the disadvantages of this at present. 

In the last 36 - 48 hour my car have been given a deep scratch down the nearside. I had to park on partly on a kerbbecause there wasn't any available spaces in the residential car park. I think some scrote took umbridge to that. Neighbours are alright but soundproofing between the flats is poor. 

You can't beat a house or bungalow with gardens and off road parking. However to rent one, I'll be looking at 2 or 2.5 x my current council rent. No dependents so a social house is out of the question. 

 

 

Link to post
Share on other sites

Luxury retirement apartments are going to be hammered. Around our way they are 3-400 grand and more. Imagine you'd just spent 12+ weeks locked down in you 1st floor luxury apartment having moved there from a house. Not looking quite ao convincing!

Link to post
Share on other sites
4 hours ago, MarkD said:

Luxury retirement apartments are going to be hammered. Around our way they are 3-400 grand and more. Imagine you'd just spent 12+ weeks locked down in you 1st floor luxury apartment having moved there from a house. Not looking quite ao convincing!

This 79 year old woman - featured in the Telegraph - has just sold her lovely four bed detached house to move into a luxury retirement development. in Ikley in Yorkshire.

The monthly service charge at the development is £800 - yes in Ilkley not Islington! In addition to that they operate a deferred management charge - say you buy a one bed flat there for £360,000 and then it rises in price to £540,000 in 15 years they take 15% of the sale price (£80,000 - or half the profit) as a fee when you (or your relatives when you die) come to sell it.

A free minibus is provided into Ilkley town centre for residents - so that is something!

https://www.telegraph.co.uk/property/uk/79-moving-home-buyers-sellers-brave-britains-newly-reopened/

https://www.audleyvillages.co.uk/sites/default/files/facts-fees/audley-clevedon-fees-document.pdf

Still absolutely shocking rip off of lonely elderly people who just want a bit of company in their last few years!

Edited by MARTINX9
Link to post
Share on other sites
2 hours ago, MARTINX9 said:

This 79 year old woman - featured in the Telegraph - has just sold her lovely four bed detached house to move into a luxury retirement development. in Ikley in Yorkshire.

The monthly service charge at the development is £800 - yes in Ilkley not Islington! In addition to that they operate a deferred management charge - say you buy a one bed flat there for £360,000 and then it rises in price to £540,000 in 15 years they take 15% of the sale price (£80,000 - or half the profit) as a fee when you (or your relatives when you die) come to sell it.

A free minibus is provided into Ilkley town centre for residents - so that is something!

https://www.telegraph.co.uk/property/uk/79-moving-home-buyers-sellers-brave-britains-newly-reopened/

https://www.audleyvillages.co.uk/sites/default/files/facts-fees/audley-clevedon-fees-document.pdf

Still absolutely shocking rip off of lonely elderly people who just want a bit of company in their last few years!

Im guessing here your 800 a month includes care fees? 

Until you have to go through organising it yourself you never realise how expensive someone coming in for an hour a day is. 

Link to post
Share on other sites
2 hours ago, captainb said:

Im guessing here your 800 a month includes care fees? 

Until you have to go through organising it yourself you never realise how expensive someone coming in for an hour a day is. 

It’s not a care home - it’s a retirement village. No care such as washing or feeding you is provided within that £800 charge at all. Think Ken Barlow and Norris recently in Corrie if you watch that.

 

It pays for communal facilities like the pool and lounge and cafe where you still have to pay for your meals - of course you could just use the local council pool and gym for virtually nothing as they offer low rates for pensioners. You do get an emergency alarm but my mums local authority installed that for free at her home and she pays no monthly charge and even if she had to it would only be £16 a month.

Sorry £800 a month is a rip off!. 

 

 

Edited by MARTINX9
Link to post
Share on other sites
1 minute ago, MARTINX9 said:

It’s not a care home - it’s a retirement village. It pays for communal facilities like the pool and lounge and cafe where you still have to pay for your meals - of course you could just use the local council pool and gym for virtually nothing as they offer low rates for pensioners. You do get an emergency alarm but my mums local authority installed that for free at her home and she pays no monthly charge and even if she had to it would only be £16 a month.

Sorry £800 a month is a rip off!. 

 

 

Agreed - i have seen secure housing at that level before just outside london. But that included a warden and some level of daily care.

Link to post
Share on other sites
3 minutes ago, captainb said:

Agreed - i have seen secure housing at that level before just outside london. But that included a warden and some level of daily care.

Plenty of flats in London have ‘wardens’ for young people to sort out tasks for them  - they just call them a concierge!

Edited by MARTINX9
Link to post
Share on other sites
1 hour ago, MARTINX9 said:

Sorry £800 a month is a rip off!.

Its about a quarter of what a care home would charge, so for someone who is not quite at the stage of needing a care home but is struggling with day to day life it can be an option worth considering.

But for a retired person with no disabilities, you would be insane to even consider it.

Link to post
Share on other sites
47 minutes ago, Habeas Domus said:

Its about a quarter of what a care home would charge, so for someone who is not quite at the stage of needing a care home but is struggling with day to day life it can be an option worth considering.

But for a retired person with no disabilities, you would be insane to even consider it.

£3200 a month for a care home?

£1600 perhaps at a push in Yorkshire!

 

Link to post
Share on other sites
On 19/06/2020 at 10:18, hughjass said:

Never seen the attraction of a flat, no garden , no putting washing out, service charge rip off, too close to halfwit neighbours.

 

On 19/06/2020 at 10:51, dugsbody said:

I'm pretty sure you'll find that most people would prefer to live in a nice house with a garden close to work and decent schools.

But they can't afford that, hence we are posting on this website.

I do find it surprising that many people regard living in terrible accommodation as a rather quirky life choice.

Link to post
Share on other sites
On 19/06/2020 at 06:46, oracle said:

Some quite interesting news here

https://www.express.co.uk/life-style/property/1297891/housing-market-property-bungalows-renters-buyers-houses-flats-rightmove

It seems being cooped up for 3 months in a tiny cramped flat or room is giving people a severe bout of cabin fever.This looks like yet another kick in the nads for BTL to me!

So people want outdoor spaces/office and study rooms(working from home) and are now shunning "luxury apartments"

Coupled with the fact we haven't yet seen the worst of the post furlough unemployment/redundancies it looks like it's going to be an interesting few months.

I am not sure I see this as a long term thing.

I suspect that covid will push social phenomena that were already happening (e.g. home working) but not desiribility. That might have an indirect effect, but forgotten in a few months. Perhaps.

Link to post
Share on other sites
3 hours ago, Bob8 said:

 

I do find it surprising that many people regard living in terrible accommodation as a rather quirky life choice.

Yup. Even more surprising given the website we're on. I wonder if these people are older and managed to buy a decent house years ago?

Link to post
Share on other sites
12 hours ago, MARTINX9 said:

£3200 a month for a care home?

£1600 perhaps at a push in Yorkshire!

 

My wife's grandad was paying £1.5k a week in Oxford. And there was nothing special about the home he was in, chosen purely for its proximity to his daughters house.

 

Link to post
Share on other sites
3 hours ago, regprentice said:

My wife's grandad was paying £1.5k a week in Oxford. And there was nothing special about the home he was in, chosen purely for its proximity to his daughters house.

 

Oxford is a lot more expensive I agree that most places.

But the point is academic - its not a care home its a retirement village. You can move into one at age 55 - hardly an age when many people need round the clock care.  More Champneys for the well off retired.

Edited by MARTINX9
Link to post
Share on other sites
1 hour ago, MARTINX9 said:

Oxford is a lot more expensive I agree that most places.

But the point is academic - its not a care home its a retirement village. You can move into one at age 55 - hardly an age when many people need round the clock care.  More Champneys for the well off retired.

My wife's granddad was in a proper old age care home. He was 92 when he moved in, he had previously needed 2 years of care in his own home but wasn't managing even with the help. Prior to that he'd been fit as a fiddle and was still driving at 90.

interestingly my uncle moved into a sheltered flat at 55. I remember him getting excited because he was allowed to put a plant pot outside his flat door and I thought that was an utterly miserable thing to do to yourself with maybe another 30 years to go. 

Link to post
Share on other sites
On 20/06/2020 at 15:11, MARTINX9 said:

The monthly service charge at the development is £800 - yes in Ilkley not Islington!

£800 a month. Feck! It's like renting in itself! 

£9600 a year. Jesus. 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 415 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.