Heading North?

[Tentpeg]

The price of 1 bed flat in the West Sussex area is circa 120-130k

The price of a detached house in Cheshire is 130K+.

Yes there are more jobs in London & home counties blah blah, but with seemingly more companies moving North to reduce their costs (and possibly find people to emlpoy that can afford to buy a home near work).

I know someone who turned down a good job offer on account of the cost of living in the area (Cambridge). I doubt that was an isolated case. How many more are thinking the same way? If you're an FTB looking for a new job, what's the point of looking in the South? I know many have family ties etc.

I guess my point is this - What long term impact if any, will this round of HPI have on the future economy in the South if people relocate North because they're sick of the cost of living down here?

I know all the folk up North will say it's expensive up there, but it ain't compare to down here, and the salaries (not including London) aren't much different.

[Mancghirl]

The price of 1 bed flat in the West Sussex area is circa 120-130k

The price of a detached house in Cheshire is 130K+.

Yes there are more jobs in London & home counties blah blah, but with seemingly more companies moving North to reduce their costs (and possibly find people to emlpoy that can afford to buy a home near work).

I know someone who turned down a good job offer on account of the cost of living in the area (Cambridge). I doubt that was an isolated case. How many more are thinking the same way? If you're an FTB looking for a new job, what's the point of looking in the South? I know many have family ties etc.

I guess my point is this - What long term impact if any, will this round of HPI have on the future economy in the South if people relocate North because they're sick of the cost of living down here?

I know all the folk up North will say it's expensive up there, but it ain't compare to down here, and the salaries (not including London) aren't much different.

If you think you can buy a deatched house in a nice bit of Cheshire for 130k, you are kidding yourself. Terraces in Stockport are priced at 130k these days. Where do you think these houses are??? The North has suffered HPI just like everywhere else. Please be realistic.

[OzzMosiz]

I go upto Huddersfield quite a few times a month. Believe me, houses prices are just as insane up there!

[Bingley Bloke]

Yeah, head north and ensure that everyone who's already priced-out here due to the wages being so low that they won't stretch to relatively low house prices, are even less able to find somewhere to live

[737]

If you think you can buy a deatched house in a nice bit of Cheshire for 130k, you are kidding yourself. Terraces in Stockport are priced at 130k these days. Where do you think these houses are??? The North has suffered HPI just like everywhere else. Please be realistic.

Spoke to an EA in West Yorkshire the other day. She said "They come up here from down South expecting to buy BTLs for £20,000 - don't they have t'internet down there"?

[Realistbear]

I am an ex-Southerner (Surrey) now living in the W Midlands which seems to be about 30% cheaper than my old area (Guildford). ODPM says West Midlands and Guildford both dropped sharply last Q at around 7%. Unless work takes me back to London again I plan to stay in the North (Southerner speak for anything north of Hatfield) and buy a nice detached for around 200k in about 2007/08.

That said, in the Great Crash I picked up a very smart bungalow in Surrey in 1990 for 189k that had been bought a few years earlier at the height of the boom part of the cycle for 250k. When the crash starts to bottom Surrey may repeat the pattern and drop further and faster than more moderate areas in the far north such as Stratford.

[jonewer]

I wouldnt mind but London has too much to offer - eurostar, heathrow, galleries, museums, theatre.... oh yes and OUR JOBS.

Would love to go live in Somerset or Wiltshire or Cumbria or somewhere but for BOTH of us to get jobs is going to prove, well, challenging.

[2005]

The only thing you will get round here for £130K is an ex council house on a rough estate.

I know of people who are thinking of moving down south because when you factor in better wages and job opps housing seems better value there than up north at the moment.

[OzzMosiz]

I wouldnt mind but London has too much to offer - eurostar, heathrow, galleries, museums, theatre.... oh yes and OUR JOBS.

Would love to go live in Somerset or Wiltshire or Cumbria or somewhere but for BOTH of us to get jobs is going to prove, well, challenging.

Too much of a good thing makes it boring. I like going to London on the odd occassion, but would HATE to live there!

[Rachman]

Where do people get their information ?

Cheshire £130K - maybe in Ellesmere Port, Runcorn, Widnes or Stockport and even then it's not a detached house, unless by that you mean the rest of the street's been knocked down.

Here's a link to the GF's parents postcode - try that - it's nuts, but behave, don't believe the hype - the north went highest and has furthest to fall and is more likely to fall as wages are lower....

http://www.nethouseprices.com/index.php?co...ge=&house_type=

the smaller ones are like sheltered flats and the £500K ones look like they ought to be on council estate in Gatehead.....

I am from up north, I work down here, because wages are so much higher. My house would cost about 14 times my wages in my home town (at today's rates of what I can get) - where I am it costs less than 4 times. You do the math.

Edited April 28, 2006 by Rachman

[Mancghirl]

Spoke to an EA in West Yorkshire the other day. She said "They come up here from down South expecting to buy BTLs for £20,000 - don't they have t'internet down there"?

hehehehe.....

bravo.

I'm itching to see this detached house for 130k....I think I'll buy it meself

[Michael]

in the London area only certain jobs pay a lot more than elsewhere.......

and people who earn say 50% more than they would in say Manchester would be be better off in London.

as most things they buy are the same price so housing being dearer is made up for by the salary being better..

It is people who do the kind of job where you get a £4k London weighting who'd be better off moving to the North or midlands......................

[Bingley Bloke]

I'm itching to see this detached house for 130k....I think I'll buy it meself

Yeah, me too... One bed flat, sorry, luxury apartment, is about £140K around Bingley, Saltaire, etc.

[Tentpeg]

If you think you can buy a deatched house in a nice bit of Cheshire for 130k, you are kidding yourself. Terraces in Stockport are priced at 130k these days. Where do you think these houses are??? The North has suffered HPI just like everywhere else. Please be realistic.

I am, check out Rightmove, who said anything about Stockport? There's more to Cheshire than Stockport

[Rachman]

I am, check out Rightmove, who said anything about Stockport? There's more to Cheshire than Stockport

That's right, most of it is much better and higher priced - please please tell me where I can pick up a detached house without a crack den for £130K that's not on the Wythenshawe estate....

[Mancghirl]

Yeah, me too... One bed flat, sorry, luxury apartment, is about £140K around Bingley, Saltaire, etc.

Quite 130k round my way will buy you one bed in Hulme bulldozed council estate regeneration area. Further out maybe a semi that needed work in Oldham/Rochdale. 2 bed terrace somewhere nice like Ramsbottom. :angry:

[jonewer]

in the London area only certain jobs pay a lot more than elsewhere.......

and people who earn say 50% more than they would in say Manchester would be be better off in London.

as most things they buy are the same price so housing being dearer is made up for by the salary being better..

It is people who do the kind of job where you get a £4k London weighting who'd be better off moving to the North or midlands......................

Its not just the amount of money, it the availability of work.

My weighting is only £1500pa btw.

[tahoma]

I'm thinking of buying a boat.

No, really. Canal boats are quite comfy to live on, and just think - cheap rent even in a marina, cheap to run (12v electricity, wood stove heating). Good little bolt hole while property implodes. They don't depreciate much either.

Or I could get a speedboat to pull in.

[Mancghirl]

I'm thinking of buying a boat.

No, really. Canal boats are quite comfy to live on, and just think - cheap rent even in a marina, cheap to run (12v electricity, wood stove heating). Good little bolt hole while property implodes. They don't depreciate much either.

Or I could get a speedboat to pull in.

There was that article in the Guardian last Saturday about living in a Yurt. They are only 2 grand........

[Spring In The Air]

I am an ex-Southerner (Surrey) now living in the W Midlands which seems to be about 30% cheaper than my old area (Guildford). ODPM says West Midlands and Guildford both dropped sharply last Q at around 7%. Unless work takes me back to London again I plan to stay in the North (Southerner speak for anything north of Hatfield) and buy a nice detached for around 200k in about 2007/08.

That said, in the Great Crash I picked up a very smart bungalow in Surrey in 1990 for 189k that had been bought a few years earlier at the height of the boom part of the cycle for 250k. When the crash starts to bottom Surrey may repeat the pattern and drop further and faster than more moderate areas in the far north such as Stratford.

Sounds like you have made some serious financial errors of judgement over the years. I hope others take note.

[tahoma]

Sounds like you have made some serious financial errors of judgement over the years. I hope others take note.

I'll wager he is considerably more successful than you. Now go and boss around one of those children in suits you have 'working' for you.

[Rachman]

Sounds like you have made some serious financial errors of judgement over the years. I hope others take note.

Eh, he's done it right - he bought at the bottom and rode it.

Plus this time, it's the non SE that's gone up most and so has furthest to fall - the wages are not there to sustain it.

My first house cost me £140K in 1999 - I sold it 10months later for £165K. Next door (identical) sold in 2004 for £335K - on a street of 60 identical houses not one's sold since. That tells me what I need to know about demand there (this is a 1700sqfoot family house with large gardens front and rear and perfect school catchment areas). They can easily drop back to about £250K.

My current house (not 10 miles from Guildford) cost me £15K more in 2004 than an identical two on the same street sold for in 2002. You tell me where the fall is going to be..........

[Tentpeg]

I actually said 130K+ (note the "+" for the pedantic souls amongst you)

how about this http://www.rightmove.co.uk/viewdetails-543...a_n=10&tr_t=buy

or this http://www.rightmove.co.uk/viewdetails-503...a_n=10&tr_t=buy

or this http://www.rightmove.co.uk/viewdetails-661...a_n=10&tr_t=buy

Unless i'm mistaken detatched. From where I'm from that looks like a bargain.

or if you didn't mind a semi:

http://www.rightmove.co.uk/viewdetails-987...a_n=10&tr_t=buy

at 145K there's more choice, but still cheap in comparison to the South.

[jonewer]

There was that article in the Guardian last Saturday about living in a Yurt. They are only 2 grand........

I have reported you to the Royal Society for the Prevention of Cruelty to Yurts.

Poor animals, never hurt a soul...

[Mancghirl]

Tentpeg- Winsford is basically an 'overspill' town with large council stock built by Manchester/Liverpool City Council in order to house excess population. I wouldn't be forming an orderly queue to live there.

Edited April 28, 2006 by Mancghirl