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lewissheridan

3-bed Semi For Sale £115k

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I met a colleague who works out of our aquired company in Stoke, he told me he has sold his 3-bed semi detached house for £115k. He bought it originally 5 years ago for £40k. He is now looking to buy something different for £180k with his g/friend. He showed me a picture of it, nice big semi with a long gravel drive! i was thinking the 1-bed pokey flat i rent is worth more than that! but how on earth has it got to this!!

If i do a search on rightmove for a 2-bed house for maximum price of £150k in Surrey i get a mobile home and properties in the costa del sol.

I think that says it all about house prices. I am fed-up, frustrated, angry etc. And people who say don't live in Surrey, don't work in Surrey can ****** right off. If i take a job someone i expect the opportunity, reasonable opportunity to buy a house! I have the means, i have savings, yet this is taking the piss totally.

He said it was timing and blind luck he bought when he did, and i agree, it's a shame that most people don't realise this is all about timing!

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I met a colleague who works out of our aquired company in Stoke, he told me he has sold his 3-bed semi detached house for £115k. He bought it originally 5 years ago for £40k. He is now looking to buy something different for £180k with his g/friend. He showed me a picture of it, nice big semi with a long gravel drive! i was thinking the 1-bed pokey flat i rent is worth more than that! but how on earth has it got to this!!

The thing is that the gap between north and south is actually smaller than it was before this last boom.

If your colleague's property has gone up from £40k to £115k in 5 years that is a 187% increase. I would be surprised if a similar property in Surrey has gone up by more than 50-60% in the same period.

For example, when I started looking at decent 1 bed flats in Kingston in 2001, they were going for about £130k. Similar flats are now about £185k so about a 40% increase.

This is still a ridiculous rise, but I think that the current boom has closed the North-South divide rather than widening it further.

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The thing is that the gap between north and south is actually smaller than it was before this last boom.

The gap between London & ex-London is the smallest it has been for 8 years according to the Halifax.

Halifax article

I often wonder how/if the gap will widen again.

London rises, rest of country static? - This seems to be happening at the moment but I'm not sure it can continue.

London static, rest of country falls?

London falls, rest of country falls a huge amount? - This is what I think will happen eventually.

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I suspect that the north-south divide closing is the result of the "ripple-out" tendency in the housing market. Initially the south booms and the north stagnates - gap widens, then the north starts to boom while the south stabilises - gap closes slightly, next the south starts to fall while the north finishes its boom - gap closes rapidly. When the north falls, while the south bottoms out we will see the gap starting to reopen, before a re-run of the whole cycle.

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The thing is that the gap between north and south is actually smaller than it was before this last boom.

If your colleague's property has gone up from £40k to £115k in 5 years that is a 187% increase. I would be surprised if a similar property in Surrey has gone up by more than 50-60% in the same period.

For example, when I started looking at decent 1 bed flats in Kingston in 2001, they were going for about £130k. Similar flats are now about £185k so about a 40% increase.

This is still a ridiculous rise, but I think that the current boom has closed the North-South divide rather than widening it further.

Surrey has always been one of (if not the most) expensive counties for property. I live in Essex, and like for like, property has always been much cheaper here than there, despite Essex being V.Expensive compared to other parts of the UK

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http://www.rightmove.co.uk/viewdetails-110...pa_n=1&tr_t=buy

Look at this!! We are North Yorkshire, we don't have London wages.!

This is probably around 15 x local average salary.!!

It's not even in a great location.!

Its all madness.

Lou

That is expensive. At the same time, Harrogate has always been very expensive compared to most of Yorkshire, as has York itself.

I remember browsing the EAs windows in York a couple of years ago, and seeing one-bed city centre flats for the same price as 3-bed semis 10 miles down the road.

I think that is another difference between the markets in the north and south - the north seems more dominated by 'hotspots' that are a lot more expensive than the surrounds. For example, in the south you might pay slightly more per sqft to live in central Guildford than a village 5 miles away, but it would be quite a small percentage difference. A 2 bed flat in the centre may be the same price as a 2 bed terrace in one of the surrounding villages, but that would be about the greatest difference.

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I met a colleague who works out of our aquired company in Stoke, he told me he has sold his 3-bed semi detached house for £115k. He bought it originally 5 years ago for £40k. He is now looking to buy something different for £180k with his g/friend. He showed me a picture of it, nice big semi with a long gravel drive! i was thinking the 1-bed pokey flat i rent is worth more than that! but how on earth has it got to this!!

If i do a search on rightmove for a 2-bed house for maximum price of £150k in Surrey i get a mobile home and properties in the costa del sol.

I think that says it all about house prices. I am fed-up, frustrated, angry etc. And people who say don't live in Surrey, don't work in Surrey can ****** right off. If i take a job someone i expect the opportunity, reasonable opportunity to buy a house! I have the means, i have savings, yet this is taking the piss totally.

He said it was timing and blind luck he bought when he did, and i agree, it's a shame that most people don't realise this is all about timing!

Yes, it is desperately unfair. Up to I guess about 6 years ago even if you lived somewhere like Surrey you could buy somewhere in maybe the cheapest part of surrey, (may have been a bit of a push but at least you stood a chance) and then slowly work your way up. I think most people would be quite happy with that

sort of situation.

Now the situation is completely 'surreal' , because what used to be the most basic is now the most expensive and there is no way to 'move up'.

I get sick to death of some posters on here saying that 'young people'don't know how to save and waste all their money on Ipods etc. This is complete rubbish, after all how many ipods or Plasma TV's can a person buy? Even if young people did save ALL their money they still could not afford the most basic home.

It is a discraceful state of affairs. This government should be throughly ashamed of itself for not doing anything to change the situation.

If it makes you feel any better (and it probably won't) I am 44 and Mr GAL BEAR is 48 and we are earning

about 55 grand between us. We are both in management jobs. We are completely priced out of the property market where we live.

It comes to something when people in there 40's are priced out, what the hell hope is there for younger

people? I must say I get very bitter and resentful when I start to think about it.

Its' a shame really that all the young people accross the country could all get together and leave their rented homes and move back in with their parents, imagine how quick the property market would crash then..... all those BUY TO LET landlords lumbered with homes they can't rent out !!!

But I know realistically this is not going to happen.

The only thought to keep in mind is there has never been a property boom without a bust so bide your time, it will come, it may be too late for me but if you are still fairly young the next bust should come in time for you.

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Yes, it is desperately unfair. Up to I guess about 6 years ago even if you lived somewhere like Surrey you could buy somewhere in maybe the cheapest part of surrey, (may have been a bit of a push but at least you stood a chance) and then slowly work your way up. I think most people would be quite happy with that

sort of situation.

Now the situation is completely 'surreal' , because what used to be the most basic is now the most expensive and there is no way to 'move up'.

I get sick to death of some posters on here saying that 'young people'don't know how to save and waste all their money on Ipods etc. This is complete rubbish, after all how many ipods or Plasma TV's can a person buy? Even if young people did save ALL their money they still could not afford the most basic home.

It is a discraceful state of affairs. This government should be throughly ashamed of itself for not doing anything to change the situation.

If it makes you feel any better (and it probably won't) I am 44 and Mr GAL BEAR is 48 and we are earning

about 55 grand between us. We are both in management jobs. We are completely priced out of the property market where we live.

It comes to something when people in there 40's are priced out, what the hell hope is there for younger

people? I must say I get very bitter and resentful when I start to think about it.

Its' a shame really that all the young people accross the country could all get together and leave their rented homes and move back in with their parents, imagine how quick the property market would crash then..... all those BUY TO LET landlords lumbered with homes they can't rent out !!!

But I know realistically this is not going to happen.

The only thought to keep in mind is there has never been a property boom without a bust so bide your time, it will come, it may be too late for me but if you are still fairly young the next bust should come in time for you.

Thanks for this bit of sanity.

I did actually return back home to NW London and commutted 80 miles a day down the M25, M3 for 6 months, firstly to aggressively save a £6k deposit, and also with my frustration of being ripped of by landlords. If all ftb could do that the BTL market would surely crumble, and bring down those spineless letting agencies with them.

It has got to a point of utter stupidity, and yet people happily deny it, say house prices are rising and are so naive to the bigger picture of where housepricecrash.co.uk is the invaluable resource to gain that picture. I can't see any future in this mess, yet i find great comfort in there never being a boom without a bust.

So I will weather this storm and hopefully come through it. I can seriously understand the stress this is causing people as there does not seem to be any way out of this.

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£115K will buy a small nondescript 3 bed semi in Leicester. Easily.

Billy Shears

Hi,

Yes, and will house five people in India or China. So the wages are cheaper. So the business is more competitive. So British Industry continues to decline and the trade defecit continues to escalate to record levels (that is what is happening in the UK at this time, start a separate thread and I will debate it more). Britian is living in fantasy land at the moment. She can't pay her way in the world, mostly because of the macro-economic affects of house prices. The last few examples of similar levels of house prices and debts? Britain in the late eightees-early ninitees (infact less then), the Netherlands (five years of recessions and a falling house market) or Japan in the ninetees (a decade of recession and 50-70% house price falls). You will not find one case in history of a nation indebting itself, both internally and internationally, to these levels that haven't paid for it.

Edited by boom_and_bust

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I met a colleague who works out of our aquired company in Stoke, he told me he has sold his 3-bed semi detached house for £115k. He bought it originally 5 years ago for £40k. He is now looking to buy something different for £180k with his g/friend. He showed me a picture of it, nice big semi with a long gravel drive! i was thinking the 1-bed pokey flat i rent is worth more than that! but how on earth has it got to this!!

If i do a search on rightmove for a 2-bed house for maximum price of £150k in Surrey i get a mobile home and properties in the costa del sol.

I think that says it all about house prices. I am fed-up, frustrated, angry etc. And people who say don't live in Surrey, don't work in Surrey can ****** right off. If i take a job someone i expect the opportunity, reasonable opportunity to buy a house! I have the means, i have savings, yet this is taking the piss totally.

He said it was timing and blind luck he bought when he did, and i agree, it's a shame that most people don't realise this is all about timing!

Anybody who thinks Stoke on Trent can sustain house price inflation like this is living in a dream world. It has been in slow decline for fifty years, is already a post-industrial wasteland with low, low wages. It was in trouble in the 1970s when the competitors were highly capitalised German ceramic manufacturers. With E. European, Iberian and above all Far Eastern competitors, it has no chance. Its most famous manufacturer, Wedgewood, already outsources much of its production. HPI like this is a sign of just how near to popping the bubble must be. Yes, timing matters - so sit it out until prices find a more realistic level.

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Thanks for this bit of sanity.

I did actually return back home to NW London and commutted 80 miles a day down the M25, M3 for 6 months, firstly to aggressively save a £6k deposit, and also with my frustration of being ripped of by landlords. If all ftb could do that the BTL market would surely crumble, and bring down those spineless letting agencies with them.

It has got to a point of utter stupidity, and yet people happily deny it, say house prices are rising and are so naive to the bigger picture of where housepricecrash.co.uk is the invaluable resource to gain that picture. I can't see any future in this mess, yet i find great comfort in there never being a boom without a bust.

So I will weather this storm and hopefully come through it. I can seriously understand the stress this is causing people as there does not seem to be any way out of this.

Yes, what amazes me the general attitiude of people.

When I say to people in my office that there is going to be a HPC they say there is no way that house prices could drop by even 30% yet they don't find it so unreasonable that they hae increased by about 150% !!!

The most amazing thing they usually say is "the government won't let it happen".

EVERYBODY denied there was going to be a bust in the late 80's and what happened ...... yes there

was a horrendous bust ! (the government could not stop that one) When you remind them of this they say "Well it's different this time,"

When you ask them "Why is it different this time"? they have nothing to say.

Says it all really !

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http://www.rightmove.co.uk/viewdetails-110...pa_n=1&tr_t=buy

Look at this!! We are North Yorkshire, we don't have London wages.!

This is probably around 15 x local average salary.!!

It's not even in a great location.!

Its all madness.

Lou

£299,950 - that is a staggering asking price. The last three semis in that street sold for (nethouseprices):

no. 70 £153,000 16-Sep-2005

no. 31 £250,000 20-May-2005

no. 48 £180,000 24-Mar-2005

So it looks like they're 'avin a larf.

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£299,950 - that is a staggering asking price. The last three semis in that street sold for (nethouseprices):

no. 70 £153,000 16-Sep-2005

no. 31 £250,000 20-May-2005

no. 48 £180,000 24-Mar-2005

So it looks like they're 'avin a larf.

What can you say!

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Plymouth,Devon.If you want to see inflation at a crazy percentage look here!Purchased a house in 1999 for £34.5k.Spent around £5k,new kitchen{although the old one wasnt too bad but Mrs.P fancied one},new windows, tarting up and redecorating and its now worth around £115k to £120k.Its a two bed,3 story terraced with court yard.

Jobs here are very low paid £15 to£17k seems the norm but loads are paying a lot less.I am a self employed technical sales agent so the wages do not apply to me.

But heres the rub,I am from originally the south east and have little hope of moving back unless property falls in a massive way{and I do think this is only a matter of when not if}.

Heres a little question .Reading, my place of birth,sadly a very unloverly place now is ultra expensive whilst just down the road in Swindon house prices seem to be the same as here in Plymouth.Any ideas?Think I might try a seperate post for that.

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  • 336 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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