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2 Bed Terrace On For £166,000 Sold For £117,000

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Guest growl

Had a freind around yesterday afternoon and mentioned how netpricehouses email had alerted me to a two bedroom which had sold for £117,000.

Now the reason we were discussing this house (were're both waiting for the crash), was that these are old pre-war houses, the types with big bedrooms. You could easily turn the house into a three bedroom. They have a front courtyard to them, a very large back gardens. In an nice area.

She told me how much it had been on the market for, and since I get the quarter report, I told her how much it sold for. Flats around here sell for £110,000. So we were surprised at the drop. But she and her husband had viewed the house. It needed work, it had no central heating and probably needed new windows.

But a drop from £166,000! :o

House prices are definetly dropping and there are and will be bargains to come. :D So ignore VI reports of a jump in February. That's taking in up North where there are still fools and the message is slow to reach there. ;)

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Had a freind around yesterday afternoon and mentioned how netpricehouses email had alerted me to a two bedroom which had sold for £117,000.

Now the reason we were discussing this house (were're both waiting for the crash), was that these are old pre-war houses, the types with big bedrooms. You could easily turn the house into a three bedroom. They have a front courtyard to them, a very large back gardens. In an nice area.

She told me how much it had been on the market for, and since I get the quarter report, I told her how much it sold for. Flats around here sell for £110,000. So we were surprised at the drop. But she and her husband had viewed the house. It needed work, it had no central heating and probably needed new windows.

But a drop from £166,000! :o

House prices are definetly dropping and there are and will be bargains to come. :D So ignore VI reports of a jump in February. That's taking in up North where there are still fools and the message is slow to reach there. ;)

You are lucky to have a friend who thinks that price will come down. All I meet is morons think that price can only go up, dont even want to hear my rant.

:)

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You are lucky to have a friend who thinks that price will come down. All I meet is morons think that price can only go up, dont even want to hear my rant.

:)

Ranting is not the best solution. I take a logical approach and present them with facts from the last housing crash and dom com bubble. Then explain the pyramis scam.

Its only the dumb ones that then go "but house prices only go up".

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Guest growl

You are lucky to have a friend who thinks that price will come down. All I meet is morons think that price can only go up, dont even want to hear my rant.

:)

Yes I'm always hearing on this forum how people say that old thing 'House prices only ever go up'. I haven't heard it for ages.

But then the other week I was in the pub, talking to an aquaintence about a house he had bought in London, SW I think. He was saying how prices had reached a plateux. I told him if he was going to stay put for a long time ( I meant twenty years), he would probably be alright. Then he said it! :blink:

"But house prices only ever go up don't they, I'll probably sell it in five years." As he said it, it was like he was repeating a mantra, and he looked a bit depressed, as if he didn't believe it anymore.

I didn't have the heart to tell him the mantra is not true in the short term. He's in his twenties so won't remember the last crash much. :unsure:

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Ranting is not the best solution. I take a logical approach and present them with facts from the last housing crash

Ahem, the problem with that is that prices have still gone up since the last housing crash, to well above levels prior to the crash. So in the long term, your other mates are right. House prices have indeed only gone up and in the long term that is unlikely to change even if there IS a crash, as I see it.

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Ahem, the problem with that is that prices have still gone up since the last housing crash, to well above levels prior to the crash. So in the long term, your other mates are right. House prices have indeed only gone up and in the long term that is unlikely to change even if there IS a crash, as I see it.

Fine if you are immortal and able to ignore short terms phases in the market (ie ten years or so).

For us poor sods with limited lifespans buying at the wrong time is a disaster.

As an example, it has been demonstrated on a separate thread that if prices stagnate in real terms then it will take 20 years for incomes to catch up to current prices, which for today's FTB is 2/3rds of their remaining working lives.

As i've said elsewhere, today's FTB's can pretty much look forward to spending their retirements in the same property.

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Had a freind around yesterday afternoon and mentioned how netpricehouses email had alerted me to a two bedroom which had sold for £117,000.

Now the reason we were discussing this house (were're both waiting for the crash), was that these are old pre-war houses, the types with big bedrooms. You could easily turn the house into a three bedroom. They have a front courtyard to them, a very large back gardens. In an nice area.

She told me how much it had been on the market for, and since I get the quarter report, I told her how much it sold for. Flats around here sell for £110,000. So we were surprised at the drop. But she and her husband had viewed the house. It needed work, it had no central heating and probably needed new windows.

But a drop from £166,000! :o

House prices are definetly dropping and there are and will be bargains to come. :D So ignore VI reports of a jump in February. That's taking in up North where there are still fools and the message is slow to reach there. ;)

Post the link please!

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Ranting is not the best solution. I take a logical approach and present them with facts from the last housing crash and dom com bubble. Then explain the pyramis scam.

Agreed. I've simplified my approach to saying (and only when pressed): "my rent is currently costing me less than the interest on a mortgage - it doesn't make financial sense for me to buy".

It's surprisingly effective in stopping the "gotta buy" patter :)

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  • 302 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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