Jump to content
House Price Crash Forum
Hopeful FTB

The Worst I Have Seen It For A Long Time

Recommended Posts

I know Brighton has been talked about a lot on these boards but IMHO its a very good and condensed example of what could happen in the UK as a whole.

I have lived here for 6 years and in that time, I have never seen so few jobs as there are at the moment (and my job is to find other people jobs so I spend a lot of time studying this)

This is combined with a glut of very expensive property for sale (113 pages of it last week), high rents (more places to rent down here than I have seen in recent times aswell) and low wages- there were few jobs in this weeks jobs pages with salaries above 20k.

There was also an article in the local paper about the leves of family debt in sussex being some of the highest in the UK.

Combine this with 300 people a month down here on average making claims for incapacity benefit (and that doesnt include job seekers allowance etc) and its starting to look very messy.

I saw a client who was looking for work a few weeks ago who was claiming incapacity at £60 per week, lived with his partner who earnt 18k and their mortgage was £1000 a month- he was very desperate.

So, when will the gap between expensive housing and affordable housing close given the current state of things?

Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?

Share this post


Link to post
Share on other sites

I know Brighton has been talked about a lot on these boards but IMHO its a very good and condensed example of what could happen in the UK as a whole.

I have lived here for 6 years and in that time, I have never seen so few jobs as there are at the moment (and my job is to find other people jobs so I spend a lot of time studying this)

This is combined with a glut of very expensive property for sale (113 pages of it last week), high rents (more places to rent down here than I have seen in recent times aswell) and low wages- there were few jobs in this weeks jobs pages with salaries above 20k.

There was also an article in the local paper about the leves of family debt in sussex being some of the highest in the UK.

Combine this with 300 people a month down here on average making claims for incapacity benefit (and that doesnt include job seekers allowance etc) and its starting to look very messy.

I saw a client who was looking for work a few weeks ago who was claiming incapacity at £60 per week, lived with his partner who earnt 18k and their mortgage was £1000 a month- he was very desperate.

So, when will the gap between expensive housing and affordable housing close given the current state of things?

Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?

"Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?"

The author of HPI, Gordon "Miracle Economy" Brown is actively campaigning to receive his reward of the ultimate prize in politics for his long and "successful" career guiding our economy to the greatest levels of debt, er... prosperity in history.

Share this post


Link to post
Share on other sites

I do not see how a couple - both working and with no intention of ever having children - on the average UK salaries can afford to buy even a grotty house in the UK.

It is impossible unless you are prepared to take on an enormous debt burden which, I believe, will destroy you with sleepless nights, worry and working yourself into an early grave trying to pay for it.

When you add into the equation all these students who will be supposedly looking for housing in the next few years coming out of college with big debts already then, frankly, the UK property market is screwed. Pardon my English.

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp

Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?

Because noddynoo who lives in Brighton says so. :rolleyes:

We have sold our house for 3k less than asking price.Brighton is really booming again and house prices have been rising the last 2 months so ours has subsequently become a bargain.
We bought our house last year for 202000 and having spent just 10k on it it is now worth 310000 in about 14 months All houses in our street around that price have sold within 2-3 months and so we are cashing in and downsizing I am in Brighton BTW and there are sold boards everywhere

Share this post


Link to post
Share on other sites
Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?

"The King is in the altogether, the altogether... He's altogether as naked as the day that he was born!" (Needs to be sung in a Danny Kaye voice).

Share this post


Link to post
Share on other sites

"Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?"

I was questioning this – we are losing manufacturing and IT jobs – but aren’t these small time compared to the money that is imported into the country through financial products.

Does anyone know what makes the most money for the country and maybe it’s percentage compared to other imported incomes

Share this post


Link to post
Share on other sites

I have lived here for 6 years and in that time, I have never seen so few jobs as there are at the moment (and my job is to find other people jobs so I spend a lot of time studying this)

I've noticed the same trend recently in my area of West Yorkshire -

The number of vacancies advertised in the local paper had risen until when about 18 months ago it reached 375. However, over time the number has slowly declined and, a couple of weeks ago, reached the 180s. This week's jobs night edition has the number of vacancies dropping dramatically to 130.

Rather anecdotal and area specific I know but I have always found this particular indicator a most accurate predictor of the direction of both the local and national economy.

Share this post


Link to post
Share on other sites

Two people in my street in Hove have suffered broken chains and both lost their desired house in the last three months :(, I'm not sure how common this is generally. One of them because the FTB at the bottom had their mortgage application denied because of existing debt.

I notice a few home-made for-sale boards up around Brighton. People are trying to sell their house themselves rather than use an estate agent. I've never seen this before, and wonder if this is a Brighton thing or are people unhappy with estate agents across the country?

Share this post


Link to post
Share on other sites
I notice a few home-made for-sale boards up around Brighton. People are trying to sell their house themselves rather than use an estate agent. I've never seen this before, and wonder if this is a Brighton thing or are people unhappy with estate agents across the country?

Members of my family have sold their own home on several occasions, without any requirement for an EA whatsoever. My folks did it once and completed in six weeks from advertising. I also have some friends who did their own conveyancing - and believe you me, the other sides solicitor did not like it one bit.

Share this post


Link to post
Share on other sites

I've noticed the same trend recently in my area of West Yorkshire -

The number of vacancies advertised in the local paper had risen until when about 18 months ago it reached 375. However, over time the number has slowly declined and, a couple of weeks ago, reached the 180s. This week's jobs night edition has the number of vacancies dropping dramatically to 130.

Rather anecdotal and area specific I know but I have always found this particular indicator a most accurate predictor of the direction of both the local and national economy.

I was looking in the Yorkshire Evening Post job section last night, I was surprised to see how little vacancies are around at the mo.

I'm looking to change jobs, but the trade has dried up, more redundancies than new appointments. Things are definitely turning sour :(

Share this post


Link to post
Share on other sites

Because noddynoo who lives in Brighton says so. :rolleyes:

That is not the case from what I have seen- I would say Brighton is anything but booming at the moment- prices have been totally static for at least 6 months & there just seems to be a stand off between sellers who can't see that the little flat they bought 5 years ago for 40k is no longer going to sell for 175k and buyers who dont want to pay 175k for a poxy one bed shoebox!

And to add to that, brighton isnt looking quite such a nice place to live anymore with businesses closing & your average Joe not being able to sustain any level of "normal" life here as its jusr far too expensive!

And apparently council tax is going up again, along with the hike in energy costs- just can't see it all lasting for much longer!

Its certainly getting interesting!

Share this post


Link to post
Share on other sites

get a job as a bell boy like 'the ace' from quadrophenia.

that way you can have a flasy vespa and silver cigarette case etc.

so there are SOME jobs in brighton.

+ theres an op for a coordinator for the new communards movie 'beat boy' or if that fails get a job at the fairy liquid factory.

Share this post


Link to post
Share on other sites

Members of my family have sold their own home on several occasions, without any requirement for an EA whatsoever. My folks did it once and completed in six weeks from advertising. I also have some friends who did their own conveyancing - and believe you me, the other sides solicitor did not like it one bit.

Not surprised. Despite what you might think about solicitors (they have a particularly bad reputation in the field of residential conveyancing), they're also bound by professional ethics. Hence, they can't knowingly sit by and watch an unrepresented numpty balls something up. Also, there's convention about who does what in a sale (sharing the pain of drafting etc). Again, a numpty doesn't know this so the solicitor in question ends up doing twice the work .

Note to anyone thinking of doing a DIY job - I'm a solicitor and could quite easily do the work myself yet wouldn't dream of doing so. Likewise none of my colleagues would think about it. In well over 99% of cases no serious problems arise in a conveyance of residntial property. However, what you're paying your grand for is to protect you if there's a balls up (i.e. you get the benefit of your solicitors indemnity insurance). In the grand scheme of things, solicitors do a hell of lot more for their money than the spotty youth who shows people round your home and then takes an obscene cut of your sale proceeds.

Share this post


Link to post
Share on other sites

I know Brighton has been talked about a lot on these boards but IMHO its a very good and condensed example of what could happen in the UK as a whole.

I have lived here for 6 years and in that time, I have never seen so few jobs as there are at the moment (and my job is to find other people jobs so I spend a lot of time studying this)

This is combined with a glut of very expensive property for sale (113 pages of it last week), high rents (more places to rent down here than I have seen in recent times aswell) and low wages- there were few jobs in this weeks jobs pages with salaries above 20k.

There was also an article in the local paper about the leves of family debt in sussex being some of the highest in the UK.

Combine this with 300 people a month down here on average making claims for incapacity benefit (and that doesnt include job seekers allowance etc) and its starting to look very messy.

I saw a client who was looking for work a few weeks ago who was claiming incapacity at £60 per week, lived with his partner who earnt 18k and their mortgage was £1000 a month- he was very desperate.

So, when will the gap between expensive housing and affordable housing close given the current state of things?

Can someone please explain to me why the economy is still being touted as being OK as seems to be its not at all?

I'm sure Nick van Hoogstraaten, Brighton's most famous resident, needs a few bods to manage his property empire. Though I doubt he does his hiring via the local rag or recruitment 'consultants'.

Share this post


Link to post
Share on other sites

Not surprised. Despite what you might think about solicitors (they have a particularly bad reputation in the field of residential conveyancing), they're also bound by professional ethics. Hence, they can't knowingly sit by and watch an unrepresented numpty balls something up. Also, there's convention about who does what in a sale (sharing the pain of drafting etc). Again, a numpty doesn't know this so the solicitor in question ends up doing twice the work .

Note to anyone thinking of doing a DIY job - I'm a solicitor and could quite easily do the work myself yet wouldn't dream of doing so. Likewise none of my colleagues would think about it. In well over 99% of cases no serious problems arise in a conveyance of residntial property. However, what you're paying your grand for is to protect you if there's a balls up (i.e. you get the benefit of your solicitors indemnity insurance). In the grand scheme of things, solicitors do a hell of lot more for their money than the spotty youth who shows people round your home and then takes an obscene cut of your sale proceeds.

Agreed. Solicitors ought to be getting a % of the value of the property. Like Estate Agents and Notaries on the Continent. The Law Society dropped the ball somewhere along the line. Solicitors should have closed ranks and demanded this, say, forty years ago. Everyone would think that it's normal now and wouldn't bat an eyelid. Instead, Estate Agents could be the muppets working on a hourly basis or for a fixed fee.

Share this post


Link to post
Share on other sites

Agreed. Solicitors ought to be getting a % of the value of the property. Like Estate Agents and Notaries on the Continent. The Law Society dropped the ball somewhere along the line. Solicitors should have closed ranks and demanded this, say, forty years ago. Everyone would think that it's normal now and wouldn't bat an eyelid. Instead, Estate Agents could be the muppets working on a hourly basis or for a fixed fee.

lot of solicitors get it both ways as it is.

in scotland many are estate agents as well

highland solicitors property centre

aberdeen solicitors property centre ect ect

Share this post


Link to post
Share on other sites
Guest Bart of Darkness

Mrs 29929 is certain Gordy is gay.

Ties in nicely with Brighton and the "pink pound". :)

Time Gordy got his pink slip (as they say in the US).

Share this post


Link to post
Share on other sites

I was questioning this – we are losing manufacturing and IT jobs – but aren’t these small time compared to the money that is imported into the country through financial products.

Does anyone know what makes the most money for the country and maybe it’s percentage compared to other imported incomes

Slightly out of date.

gdp.gif

From what I have seen many of the contract jobs in Banking / IT have gone or are going. Technology companies, not volume manufactureres, are doing pretty good at the moment I think. Touch wood.

How much faith have people got in London remaining a finacial center? I notice that a lot of other countries are trying to get into the act as well. Places like Dubia and so on.

post-3289-1140199791.gif

Share this post


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.

  • 301 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.