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Hi guys

I haven't posted here for a while, although I've been reading posts.

Been busy with kids and work but most importantly our offer on a house was accepted some time ago and we've now exchanged.

For all the reasons discussed in aeternum on this forum I stand by what I said many times - prices are too high, should have crashed ages ago and should still fall etc. but government didn't let it happen. So far. And God knows what the future holds for us.

Another bear capitulates? You could see it that way, I suppose, though things cannot be put on hold forever.

I've been fed up with the whole situation for a long time. And for a long time we as a family have felt the need for a bigger shoe box - now we can have it.

Kids grow fast, life goes by quite quickly and I ain't no spring chicken no more. I guess I didn't want to be in a position where I'd be too old to enjoy a house of our own.

The house we're buying needs modernization, so not ideal but we can do the work to our taste. We got 10% off on the asking price in the end.

We had a sizeable deposit needing a home, so our mortgage is not gonna be big and repayments gonna be about a third of our rent. And if IR's shoot up, our current rent would still be higher than the mortgage. Also, we're not the kind of people who buy gold, shares and stuff...

So, yes, we've waited and waited - 4 years now since the credit crunch and many more considering that we'd been waiting before that too.

Years of hope and years of delusion, and what's more years of rent paid to this or that greedy landlord.

I guess we probably paid in rent in the last 4 years alone about £40k. And what did that get us? Sadly nowhere AFAIK as on this side of the world prices are pretty much the same as in 2007.

Wish all the best to you guys and I hope you finally get the place that you want at a reasonable price.

Good luck

Captain Picard

Edited by Capt. Picard

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Hi guys

I haven't posted here for a while, although I've been reading posts.

Been busy with kids and work but most importantly our offer on a house was accepted some time ago and we've now exchanged.

For all the reasons discussed in aeternum on this forum I stand by what I said many times - prices are too high, should have crashed ages ago and should still fall etc. but government didn't let it happen. So far. And God knows what the future holds for us.

Another bear capitulates? You could see it that way, I suppose, though things cannot be put on hold forever.

I've been fed up with the whole situation for a long time. And for a long time we as a family have felt the need for a bigger shoe box - now we can have it.

Kids grow fast, life goes by quite quickly and I ain't no spring chicken no more. I guess I didn't want to be in a position where I'd be too old to enjoy a house of our own.

The house we're buying needs modernization, so not ideal but we can do the work to our taste. We got 10% off on the asking price in the end.

We had a sizeable deposit needing a home, so our mortgage is not gonna be big and repayments gonna be about a third of our rent. And if IR's shoot up, our current rent would still be higher than the mortgage. Also, we're not the kind of people who buy gold, shares and stuff...

So, yes, we've waited and waited - 4 years now since the credit crunch and many more considering that we'd been waiting before that too.

Years of hope and years of delusion, and what's more years of rent paid to this or that greedy landlord.

I guess we probably paid in rent in the last 4 years alone about £40k. And what did that get us? Sadly nowhere AFAIK as on this side of the world prices are pretty much the same as in 2007.

Wish all the best to you guys and I hope you finally get the place that you want at a reasonable price.

Good luck

Captain Picard

Congratulations and I hope it works out. The way the housing market has been manipulated by the banks/government over the last decade has been nothing short of a disgrace, and you are right that we are now at a stage where we can't predict what the future holds. FWIW I still suspect prices will go down over the next couple of years, maybe by 10% or so, but at some point inflation might hit hard and if it does you really don't want to be stuck in rented accommodation and with cash in the bank. Also you say that you aren't stretching yourself by buying - so if there is a crash you can still take advantage of it by trading up.

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Congratulations and I hope it works out. The way the housing market has been manipulated by the banks/government over the last decade has been nothing short of a disgrace, and you are right that we are now at a stage where we can't predict what the future holds. FWIW I still suspect prices will go down over the next couple of years, maybe by 10% or so, but at some point inflation might hit hard and if it does you really don't want to be stuck in rented accommodation and with cash in the bank. Also you say that you aren't stretching yourself by buying - so if there is a crash you can still take advantage of it by trading up.

You guys just don't get the obvious. With higher inflation comes higher int rates and lower real earnings and lower employment. House price rises in that scenario? Behave.

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theres only a waiting list for parking permits in some areas, in others the permits have no waiting list. Also if you move from a zone with an easy permit, to one with a long list, you skip the queue. Handy if you know someone in a no-waiting-list zone :)

many thanks for your reply..I do have friends in zones with no waiting list..but can you explain how this may help my situation, and how it may work out

Cheers

B

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You guys just don't get the obvious. With higher inflation comes higher int rates and lower real earnings and lower employment. House price rises in that scenario? Behave.

hasn't happened yet, house prices are, at the moment, pretty stagnent, while inflation is relatively high (a way of hyperinflation, yes, but higher than 'normal'). Its anyones bet as to what happens next (everyone revolts and gets pay rises? everything stays the same for 10 years (as seen in japan) - who knows?)

many thanks for your reply..I do have friends in zones with no waiting list..but can you explain how this may help my situation, and how it may work out

Cheers

B

essentially, you 'move in' with your friend (on paper). you might need to register the car there for this step (I've not done this myself, but know mates who have). then when your shiney permit arrives, you have a big falling out and move into your nice hove seafront flat, and transfer your permit accordingly.

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You guys just don't get the obvious. With higher inflation comes higher int rates and lower real earnings and lower employment. House price rises in that scenario? Behave.

Where did I say there would be house price rises?

My point was that even if house prices do go down you might still be better off owning a house than holding vast amounts of cash, which you might find devaluing at an even faster rate.

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my partner recently took our 2 year old to a toddler group in Hanover . Every mother she was introduced to had moved to Brighton from London in the last few years !

My eldest son is at elm grove primary school and is 10 years old. Only one of his class mates has parents who moved down from London.

.

Edited by i wanna house

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my partner recently took our 2 year old to a toddler group in Hanover . Every mother she was introduced to had moved to Brighton from London in the last few years !

My eldest son is at elm grove primary school and is 10 years old. Only one of his class mates has parents who moved down from London.

.

I bet their partners had fun getting to their London jobs after the Brighton to London line was closed all of yesterday:

http://www.theargus.co.uk/news/9268242.Haywards_Heath_trains_suspended_over_tunnel_safety_fears/

And winter is typically even less fun. With decreased funding on the lines I'm sure this isn't going to get any better any time soon... So glad I don't have to make that awful commute any more.

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I'm really feeling the divide right now. This low interest rate style recession is making it worse. Im talking about the divide between Brighton home 'owners' and renters. Our household income is triple many of our mortgaged up friends, but we rent a flat while they (think they) lord it over us in half million 3 bed terraced family homes or bigger almost million pound houses bought over ten years ago for loose change. These are part time teachers, freelance low income arty / media types, and even the jobless. Have to hide the anger when they regale me with stories of their breezy lifestyles. This lot can't afford private schools for their 2, 3 sometimes 4 kids and are a bit worried about the crap state of Brighton's secondary schools but are kinda pretending it's all good. When will the dam break?

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I'm really feeling the divide right now. This low interest rate style recession is making it worse. Im talking about the divide between Brighton home 'owners' and renters. Our household income is triple many of our mortgaged up friends, but we rent a flat while they (think they) lord it over us in half million 3 bed terraced family homes or bigger almost million pound houses bought over ten years ago for loose change.

...

Yep, sucks don't it. Talking to one colleague on a sub 2% interest rate, with an IVA and really harsh budget. Another friend on 2.xx%, although she did put down a 40% deposit. Still these fantasy interest rates won't be around forever. And knowing that I sure sleep easier at night knowing I don't have a big fat debtpile hanging over my head.

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Yep, sucks don't it. Talking to one colleague on a sub 2% interest rate, with an IVA and really harsh budget. Another friend on 2.xx%, although she did put down a 40% deposit. Still these fantasy interest rates won't be around forever. And knowing that I sure sleep easier at night knowing I don't have a big fat debtpile hanging over my head.

Oh god I hope you're right. But many are paying it down quite easily and some will end up smugly mortgage free. Now with govt talk of Right To Buy council houses funding first time buyers I'm even more depressed. But part of me knows the darkest hour comes before The Dawn. But is this even the flippin' darkest hour?

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Housing benefit / student let / property developer type question. I was walking down one of the roads off Hove seafront the other day - Holland Road near Palmeira Square, anyone know it? I remembered that a whole row of (almost) pristine, grand, white / cream period houses at the seafront end had come up for sale at the same time last year (or was it the year before? Can't remember). Anyway, various flats eventually come to market, to buy OR rent, neutral tones, 2 bed 2 bathroom combos with the inevitable big vases of twigs, and I assumed the whole lot must have been sold and made some tosspot developers very rich.

So what a shock I got when I saw what's really happened! One year on and the row of once dignified looking houses now appear very shabby indeed. A multitude of decrepit looking student bikes are tethered higgled piggledy to the rails. Underpants and other bits of laundry hang in the bay windows. A sign hanging in another window reads 'please do not knock on these windows if you want to get into the house. Ring the bell of the tenants you require.' In a couple of the ground floor flats I could see scruffy looking guys drinking in squalid surroundings, music blaring. All this grimy, studenty, housing benefit-style rental shabbiness seems at odds with the rest of the area which is predominantly London money, yummy mummies, language students, pensioners all flocking outside a new Patisserie Valerie.

Anyone know what's happened? The area seems like premium rental area to me. How come the sudden influx of grotty people all in one row? I haven't got a problem with grotty people personally. In fact I kinda enjoyed how the bikes, underpants, blasting music and daytime binge drinking pricked the general pomposity / pretentiousness of the area.

Anyway please can someone shed some light?

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Housing benefit / student let / property developer type question. I was walking down one of the roads off Hove seafront the other day - Holland Road near Palmeira Square, anyone know it? I remembered that a whole row of (almost) pristine, grand, white / cream period houses at the seafront end had come up for sale at the same time last year (or was it the year before? Can't remember). Anyway, various flats eventually come to market, to buy OR rent, neutral tones, 2 bed 2 bathroom combos with the inevitable big vases of twigs, and I assumed the whole lot must have been sold and made some tosspot developers very rich.

So what a shock I got when I saw what's really happened! One year on and the row of once dignified looking houses now appear very shabby indeed. A multitude of decrepit looking student bikes are tethered higgled piggledy to the rails. Underpants and other bits of laundry hang in the bay windows. A sign hanging in another window reads 'please do not knock on these windows if you want to get into the house. Ring the bell of the tenants you require.' In a couple of the ground floor flats I could see scruffy looking guys drinking in squalid surroundings, music blaring. All this grimy, studenty, housing benefit-style rental shabbiness seems at odds with the rest of the area which is predominantly London money, yummy mummies, language students, pensioners all flocking outside a new Patisserie Valerie.

Anyone know what's happened? The area seems like premium rental area to me. How come the sudden influx of grotty people all in one row? I haven't got a problem with grotty people personally. In fact I kinda enjoyed how the bikes, underpants, blasting music and daytime binge drinking pricked the general pomposity / pretentiousness of the area.

Anyway please can someone shed some light?

Holland Road has always been like that. The five/six town houses next to what used to be the Wick Inn were student halls of residence until they were sold off a couple of years ago, but the rest of the block has aways been one bed flat, bedsit land. I lived in Lansdowne Place for nine years and love it round there but it's always poised on the edge of utter shabbiness/ gentrification, it just reflects the prevailing economy. There are lots of old Brighton/ Hove landlords in the area who have been renting out those places for decades with minimal investment, they are totally unaffected by everything going on at the moment owning these places outright and don't care who rents them as long as they can pay the rent. As there are so many bedsits/ flats in such a concentrated area you can get a really bizzare mix, down from London types who just spent £220,000.00 on a converted one bed flat, next door to an old granny who has been there for 40 years having bought their flat for £1,000.00, next to the former scaghead on IB with a methadone scrip getting HB to pay for their bedsit, above the flat of students who party ALL THE TIME, next door to the couple who've just had a baby which cries all night. Soundproof these places aren't.

Good place to live when young, unattached - not so good with kids.

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From what I can glean the former student halls have been converted into studio flats for rental income by a developer. They are on the market for £675.00 PCM. There appear to be two flats per floor, so ten per town house. Gross income of £81,000.00 per annum.

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From what I can glean the former student halls have been converted into studio flats for rental income by a developer. They are on the market for £675.00 PCM. There appear to be two flats per floor, so ten per town house. Gross income of £81,000.00 per annum.

Thanks for knowledgeable reply. So it's multiple occupancy hell. I wonder what Londoners seeking to buy in the area would make of that! And indeed the fact that the Lansdowne/Palmeira Square area is no good for those with kids. Friends in the area say it's a joke trying to get into state schools round there. They're all getting shipped out to rough schools miles away or having to fork out for private. One set of friends lost thousands recently when the Hove private school their kids attended called The Fold, er, folded. Strange times.

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Thanks for knowledgeable reply. So it's multiple occupancy hell. I wonder what Londoners seeking to buy in the area would make of that! And indeed the fact that the Lansdowne/Palmeira Square area is no good for those with kids. Friends in the area say it's a joke trying to get into state schools round there. They're all getting shipped out to rough schools miles away or having to fork out for private. One set of friends lost thousands recently when the Hove private school their kids attended called The Fold, er, folded. Strange times.

isn't multiple occupancy where a group of people (more than 3) share the same house? If these are bedsits I don't think it counts as multiple occupancy

anyway, does anyone know what the story behind this is?

http://www.theargus.co.uk/news/9289570.11_000_new_homes_for_Brighton_and_Hove/

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isn't multiple occupancy where a group of people (more than 3) share the same house? If these are bedsits I don't think it counts as multiple occupancy

anyway, does anyone know what the story behind this is?

http://www.theargus.co.uk/news/9289570.11_000_new_homes_for_Brighton_and_Hove/

Yes - population growth... immigration etc etc etc So anticipate more high rises and increased population densities in leafy areas...

Perhaps they are going to build on the park+ride sites now as i'm not too sure where Brightons last remaining green sites are or is that just inept journalism by the Argus (surely not :rolleyes: )

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isn't multiple occupancy where a group of people (more than 3) share the same house? If these are bedsits I don't think it counts as multiple occupancy

anyway, does anyone know what the story behind this is?

http://www.theargus.co.uk/news/9289570.11_000_new_homes_for_Brighton_and_Hove/

I'm sure they've got a group of more than 3 people or more sharing one bedsit by the looks of things. Either way, it's minging.

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isn't multiple occupancy where a group of people (more than 3) share the same house? If these are bedsits I don't think it counts as multiple occupancy

...

Bedsits do count as multiple occupancy since they are not self contained. However studio flats are self contained so they are not treated as multiple occupancy.

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Anyone know of a single Brighton home 'owner' who is aware of or, ideally, bothered by global 'wall st' protests?

They're still going ahead with building that stupid viewing tower along seafront. What cuts?

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meanwhile my family keeps growing......

Woken up at 4.30 in the morning with anxiety over Euro crisis (like you do) and was struck by sudden realisation that 3 brighon families I know, the homeowner 'we can't shop at Waitrose cos we're broke' variety, all own buy-to-let rental properties (Newhaven, Hastings, Hove). They purport to be struggling and juggling with their mortgages while I rent. Fantasy- the Euro collapses and they all get repossessed and house prices collapse. Reality . . .?

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Woken up at 4.30 in the morning with anxiety over Euro crisis (like you do) and was struck by sudden realisation that 3 brighon families I know, the homeowner 'we can't shop at Waitrose cos we're broke' variety, all own buy-to-let rental properties (Newhaven, Hastings, Hove). They purport to be struggling and juggling with their mortgages while I rent. Fantasy- the Euro collapses and they all get repossessed and house prices collapse. Reality . . .?

might be the only way we ever own a family home....guess we could move to mouslscomb. Any one know what that estate in lewes is like ? surely they have a better class of council tennant in Lewes ?

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