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Limpet

Up My Street

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Guest Charlie The Tramp

Any thoughts/predictions?

It`s the opposite in my area, but there again the movers in are those grabbing the profits from their renovated slums in Inner London crime ridden air polluted areas, to breath the fresh air. ;)

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My area of Malvern is down from 180 to 160... Oh I wish I'd listened to my mother at Christmas - I could be 20,000 pounds poorer. Oh wait a minute....HURRAY!!

AND THIS IS WITHOUT INTEREST RATES GOING UP EVEN ONE TINY TINY BIT

Edited by 29929BlackTuesday

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Wait, wait, wait.

If the graphs of previous cycles are to be followed, the next cycle will take roughly 24 years from now.

So dont buy yet, the 40% below bottom will be in approximately 12 years.

Hold out.

It's only £72,000 in additional rent payments till it's time to buy.

That STR money will hold.

Wont it?

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It's only £72,000 in additional rent payments till it's time to buy.

That STR money will hold.

Wont it?

Completely wrong.

You won't find STR's using their cash to pay the rent, more likely they've had it invested in gold and other commodities which have massively outperformed the housing market.

Second, in most parts of the country it's significantly cheaper to rent property than it is to rent the amount of money required to buy the property.

And you don't have to shoulder the falling prices.

STR's can sit and wait years for the market to turn, and all the time they wait puts money in their pockets. It's called a win-win situation.

Recent BTL's will spend years financing tenants in the desperate hope that the prices will rise, while getting burnt both ways. I'm quite happy for them to continue doing so.

Edited by BandWagon

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Completely wrong.

You won't find STR's using their cash to pay the rent, more likely they've had it invested in gold and other commodities which have massively outperformed the housing market.

Massive.

Generalisation.

Thing is, you will find that the astute property people are also using the income from their assets to

invest in the very same market.

The time you spend biting your nails over the bottom of the market could be better spent living. :lol::lol::lol:

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Limpet you have been RUMBLED.

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Our technical team are notified when there are server issues and will resolve the problem as soon as possible.

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The latest graph for prices in my area.

Timber!!!

I`ll try not to get my hopes up too high.

Any thoughts/predictions?

Limpet :)

thanks for the link my area is up and down but seem to be on a plateau, hopefully this is the froth which will eventually die down

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While Limpet's price graph is wobbling, mine unfortunately isn't. :(

Have a look.

http://www.upmystreet.com/property/prices/all/l/po12.html

Looks like it is levelling off to me. I have just sold a property in Whiteley, which I think given the postcode is near you. This so called mini-boom allowing me to offload at more than I imagined. I am a huge bear. Rental here I come.

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Even worse!!

What I cant understand about dear old bognor regis is why prices are so high. Yes its on the south coast, yes it has Butlins (however living here I think that is a negative point) & yes it is a retirement zone. However stuck in the middle between Brighton & Portsmouth there is no real industry and wage levels are lower than both those areas. House prices have jumped in the past few weeks but still houses are being snapped up. A lot of property is coming back on the market after a few weeks though.

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Any thoughts/predictions?

Limpet :)

http://www.upmystreet.com/property/prices/all/l/tn341.html

been falling for a short while now according to this.

looks like the peek was mid 2004 which backs up what some folks are saying in this forum

i only hope we can get back to 1996/1997 prices, still ...... you got to have hope !!!! :D

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Massive.

Generalisation.

Thing is, you will find that the astute property people are also using the income from their assets to

invest in the very same market.

The time you spend biting your nails over the bottom of the market could be better spent living. :lol::lol::lol:

If I bought a house last week I'd be looking at the graph for my postcode and not be able to bite my nails for sobbing.

My rent is HALF the mortgage (I save £500 a month) and I genuinely feel FREE to move if and when recession bites. Without having to sell a house (albatross) for LESS THAN I PAID FOR IT!!!

And another thing:

Most people use mortgages to BTL do they not?

Is this not then called LEVERAGE not INVESTMENT?

That's silly isn't it?

Read a children's book on the Wall Street Crash, write an essay on it then bring it to me.

Off you go now.

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Another page

A diferent graph of semi`s in my area ( ie more in my price range )

Maybe I`m expecting too much for them to come down a lot more.

Is it possible that to go from around £30k to £80k in ten years is to be accepted as realistic.

I don`t want too much sympathy as I can afford to buy one almost outright but I just don`t fancy paying that much as I don`t think they are really worth it.

I think what I`m driving at is if house prices had gradually risen at a steady pace for the last ten years, up to their current level, we might not have been so horrified, and the fact is they were just too cheap for too long.

I hope that theory proves incorrect, I could do with them coming down maybe 25% before I would feel the prices are fairer, and I will certainly give it at least a couple of years to see what happens.

One thing I am sure about is that they won`t shoot up again any time soon, and the best the Bulls can hope for is that they maintain these levels for the next 5 years or so.

Our best hope is a sharp rise in interest rates, if that happens the fun really starts :lol:

Limpet

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I've been checking out some of these graphs and the path they're taking look to be heading in the right direction, but after loking at the results for my particular location, around the Newcastle area, the average prices dont really match up with what you find advertised in the EA's or property papers.

Is this the case for other areas?

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I've been checking out some of these graphs and the path they're taking look to be heading in the right direction, but after loking at the results for my particular location, around the Newcastle area, the average prices dont really match up with what you find advertised in the EA's or property papers.

Is this the case for other areas?

Exactly!

Vendors are taking offers. The days of bidding wars, offers above asking, or even at asking are finished.

I still think it will be slow and painful though :(

Limpet

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Sorry Megaflop, I`m not sure what you mean :huh:

Limpet

It was a joke. I couldn't access the page and got a server error. Maybe the powers are trying to hide the evidence? :D

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  • 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%



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