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Newcastle Thread - 50,000 Hits

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The newcastle thread has recently exceeded 50,000 hits. Now the message must be getting out!

FH

Is there conclusive (ie land registtry) evidence that prices are falling up there?

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It's slowly dawning on people that Newcastle is at the forfront of this cycle. Its lead us up to some crazy prices and it along with other Northern cities will lead us down.How do you get a City centre, Urban chick, Executive 2 bed balcony appartment in Newcastle for £110k, easy wait till 2008.

Pablo Silver or Lead?

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It's slowly dawning on people that Newcastle is at the forfront of this cycle. Its lead us up to some crazy prices and it along with other Northern cities will lead us down.How do you get a City centre, Urban chick, Executive 2 bed balcony appartment in Newcastle for £110k, easy wait till 2008.

Pablo Silver or Lead?

What I find amazing about all this is that when prices have dropped significantly and property is once again cheap, no-one will want to buy.

I know at that stage when I do decide to buy that my friends will be telling me I'm crazy.

Funny things people...

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The newcastle thread has recently exceeded 50,000 hits. Now the message must be getting out!

FH

Unfortunately I don't think the message is getting out, still too many people believing that prices only ever go up! This past week a colleague of mine in his his fifties, announces that he shall be helping his daughter on to the property ladder by acting as guarantor, only he says that they shall need to act soon before he reaches the age of fifty five.

I came close to giving him the BEAR argument, but I thought what's the point.......I mean his wife works for the Northern Rock and he buys and reads 'The Express!'

Edited by neilrich

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The people buying now wether ftb's btl's, trader uppers or people old enought to know better helping their grown up kids get on the treadmill. Have got their timing wrong big time. DONT DO IT!

Prices can halve in three years. They have befor and they could again. If that happens then a lot of people who've bought in the last 4 years are going to be paying back debts for life.

Pablo silver or lead?

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Hello there!

Been lurking here for a while as someone unable to afford a first home. I'm currently living in Gateshead with my widowed mother at the age of 27, but we get on great and work commitments have kept me working during away during the week for the past few years - until now. I'm now working back in Newcastle and desperate to have my own place. Buying right now is shear lunacy IMO, so have opted just to rent somewhere near the coast instead.

neil is absolutely right - people are ignorant. My mate bought his first place in Tynemouth for roughly 75k six months ago. This is an interest only mortgage on 4.5x single income multiple. HPC had already opened my eyes to the lunacy of it all before he started bragging about being on the 'ladder'. "Get on now before it's too late", "house prices only go up", and a link to an article stating prices are set to rise in his area* :rolleyes:

*This was a mere 3% mind you. So I simply pointed that my salary increases are in line or above this.

Six months down the line, he's gone pretty quiet about it all. This 75k interest only mortgage (I doubt he even realises he's not paying off capital) he's now heavily committed to is for a 1 bedroom upper floor flat in quite a run-down area. I should also add that his neighbours are seemingly the chavs from hell . Who needs your own stereo when next door's is loud enough? :o

I also heard on a few occasions from a female colleague how her house has doubled in value and how brilliant it was. She doesn't brag any more though - I pointed out that the next step up from her first home is now out of reach.

Most frustratingly of all, my mother (who reads the Express) and older sister (who bought before the boom) also displayed the same levels of ignorance. They were appalled that I wished prices to crash as my mother wants to sell and downsize - failing to realise that the cost of the property she downsizes into will also fall :angry:

Unfortunately, it seems most people out there are just as bad.

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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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