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delboypass

Bristol Clifton - 1 Bed Flat

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Bought 2 years ago £120k

On sale now for ~£160k

I think its mad a 1 bedroom for £160k - where is the money coming from - you would have to be earning ~£50k a year and then be told you can only afford a 1 bedroom - i would rather bomb GB house and spend 10 years at the tax payers expense!!

Something is seriously wrong with these fundamentals!!

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not as mad as a 1bed flat in Eastville costing £130k!

Bristol prices are totally insane, it's all these rich parents buying flats for their snotty Bristol Uni going kids and all those Londoners relocating

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I am earning 50K. Sadly I need 225k for a reasonable 1 bed flat.

Our concept of 'loadsa money' seems flawed, specially now when I see something for a mere £180k...

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I am earning 50K. Sadly I need 225k for a reasonable 1 bed flat.

Our concept of 'loadsa money' seems flawed, specially now when I see something for a mere £180k...

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I am earning 50K. Sadly I need 225k for a reasonable 1 bed flat.

Our concept of 'loadsa money' seems flawed, specially now when I see something for a mere £180k...

is that in London? thing is, in Bristol people generally don't earn that amount of money. My job is well paid and i should be able to buy a decent home, but all i can afford in Bristol is a manky 1 bed flat in a crappy area. :(

That is definatley something i didn't envisage happening...

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It's been mentioned before, but the price of flats in Bristol will surely be affected by the over-development in the city centre.

If you take a look on Rightmove (search for flats in BS1), you'll see that 1 bedroom flats on Anchor Road (the massive new development near @Bristol) are priced at 180k-200k. Also on Rightmove, these same flats are being rented as low as £650 per month. Doesn't take a genius to work out that the rent won't come close to paying even an IO mortgage. We'll see what happens when it dawns on the investors - they were asking £800 a month not long ago!

The situation is the same around the city centre. The flat above me has been empty for over a year now. They had to reduce the rent by 10% on my last place to let it out when I moved out. The signs aren't good for people who've paid ove the odds for flats, regardless of what happens to average house prices.

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I recall some developer withdrawing from Bristol because so few earnt over 30k compared with Birmingham and other major cities, meaning there just wasn't a market for their properties.

G

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I recall some developer withdrawing from Bristol because so few earnt over 30k compared with Birmingham and other major cities, meaning there just wasn't a market for their properties.

And it's not just Bristol, I don't think there's enough high earners in most cities to sustain these overpriced flats. Cardiff is the most ridiculous I've seen!

When rents don't even cover an IO mortgage, and in the absence of capital growth, there's no argument in the world that can justify the prices. The jury's still out on what will happen to house prices, but it's hard to see how even the most bullish investors can argue that flats (especially new builds) won't continue to drop in price.

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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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