TheCountOfNowhere Posted August 3, 2015 Share Posted August 3, 2015 Those prices are even extotionate to those already on the so-called ladder. And what sort of idiot FTB would buy a 4-bed house in Wootton for £380,000? That would be a serious error of judgement - take into account the TOTAL amount of interest you'd be paying on say....even a £320,000 mortgage (with generous £60,000 deposit) - that's £1706 a month in repayment + interest, or £1066 in INTEREST ALONE .... at a 4% loan (which is being generous again, given the size of the loan)......FOR 25 YEARS.....and that's if interest rates stay at lowest-ever for the next 25 years. Not gonna happen....people who price their property like this have no idea about the jobs market and the future of the UK economy. PLUS....that 380K was 200K 18 months ago. That sort of rise in price eclipse the 1999->2007 madness by a LONG way. Sure, some loony from London might buy into it, hence why I think the London mega bubble collapse will be a disaster for anyone buying in the shires now. You might want to change your name to cantbuywontbuy now Asking prices are detached from any kind of economic reality....it's much much worse than 2007 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 3, 2015 Share Posted August 3, 2015 Those prices are even extotionate to those already on the so-called ladder. And what sort of idiot FTB would buy a 4-bed house in Wootton for £380,000? That would be a serious error of judgement - take into account the TOTAL amount of interest you'd be paying on say....even a £320,000 mortgage (with generous £60,000 deposit) - that's £1706 a month in repayment + interest, or £1066 in INTEREST ALONE .... at a 4% loan (which is being generous again, given the size of the loan)......FOR 25 YEARS.....and that's if interest rates stay at lowest-ever for the next 25 years. Not gonna happen....people who price their property like this have no idea about the jobs market and the future of the UK economy. Meanwhile, you can rent a house for under 1K a month, which is unaffordable to most anyway http://www.rightmove.co.uk/property-to-rent/property-35578461.html Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 3, 2015 Share Posted August 3, 2015 You might want to change your name to cantbuywontbuy now I'd be happy to be in that club now actually - can or can't, I'm steering clear of buying. Meanwhile, you can rent a house for under 1K a month, which is unaffordable to most anyway Exactly - so many unknowns in this weird economy - I take it on a yearly basis, not 25-yearly basis. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 5, 2015 Share Posted August 5, 2015 430K asking price for 4 bedder on motorway service station area http://www.rightmove.co.uk/property-for-sale/property-35750592.html?premiumA=true meanwhile, http://www.rightmove.co.uk/property-for-sale/property-35497311.html 05/08/2015 Price changed: Guide Price £365,000 £355,000 25/07/2015 Brief Description changed: A modern detached home built by Westbury Homes property benefits from uPVC double glazing, gas radiator heat... set in a small cul-de-sac of similar detached homes backing onto Woodland on the outskirts of the in this quite popular development part of Grange Park. Fast access is available to Junction 15 of the M1 motorway. The accommodation comprises entrance hall, guest cloakroom, sitting room, dining room, kitchen/breakfast room, utility, first floor landing, master bedroom with ensuite, three furt... Price changed: Guide Price £375,000 £365,000 18/07/2015 Initial entry found. Only another 180K to drop.... It's insane. I thought 2007 was bad but this is beyond belief. If 2007 was enough to bring down the banking system, what are these prices goind to do ? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 5, 2015 Share Posted August 5, 2015 (edited) This one in Wootton has just fallen through http://www.rightmove.co.uk/property-for-sale/property-52338473.html?premiumA=true 05/08/2015 Price changed: from '£325,000' to '£327,500' Status changed: from 'Sold STC' to 'Premium Listing' 10/06/2015 Status changed: from 'Available' to 'Sold STC' 21/05/2015 Initial entry found. There everal remarkable things: Even in 2007 this would have been selling for less than £250. 2 short years ago this would struggle to sell and probably go for £200K It went under offer 19 days after being listed. 2 months later and it's fallen through....yet they have put the price up from insane to insane + a bit. The land registry for Northants is still 8% below the 2007 bank destroying peak. So where does the 2007+30% asking price come from ? Who is buying into this madness ? Do you know anyone ? Im just sat here scratching my head. Edited August 5, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 7, 2015 Share Posted August 7, 2015 These http://www.rightmove.co.uk/property-for-sale/property-52634183.html £489,995 4 bedroom detached house for sale Woodgate Road, Wootton, NN4 6ETwere selling for around 300K in 2007. Land registry for northampton under 2007. Asking price 2007 + 40% This masness cannot last !!!!! Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 7, 2015 Share Posted August 7, 2015 The land registry for Northants is still 8% below the 2007 bank destroying peak. So where does the 2007+30% asking price come from ? Who is buying into this madness ? Do you know anyone ? Im just sat here scratching my head. Me too - especially when you build into the equation that there's a growing number of would-be-FTBs in Northampton (av. age of FTB rising and rising) + huge number of immigrants. The market is not there for those prices - the market NEEDS a healthy amount of FTBs and sales volumes to support HPI. It seems HPI is only happening with asking prices, not selling ones. Even if OOs sell between each other, they're forcing all "stepper-uppers" to borrow more and more - very very very few winners in this market - lots of lunatics committing financial suicide though. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 7, 2015 Share Posted August 7, 2015 Me too - especially when you build into the equation that there's a growing number of would-be-FTBs in Northampton (av. age of FTB rising and rising) + huge number of immigrants. The market is not there for those prices - the market NEEDS a healthy amount of FTBs and sales volumes to support HPI. It seems HPI is only happening with asking prices, not selling ones. Even if OOs sell between each other, they're forcing all "stepper-uppers" to borrow more and more - very very very few winners in this market - lots of lunatics committing financial suicide though. Popcorn time for sure now. At these asking prices, even with the insane HTB2 prop, the price of the property at the bottom of the chain is well past what it would need to be 2 years ago. This sort of price can only be afforded by someone moving into the area ( from london I would guess ). I remember viewing something like this in 2008, same area. http://www.rightmove.co.uk/property-for-sale/property-35781771.html in 2008 and both me and the estate agent were pee-ing ourselves laughing that they had moved out of london and bought it for 400K in 2007. This one is now asking 20% more than that, again, it would need some f**king idiot from London to buy it. Again, despite the LR being down on 2007. Either the LR is about to shoot up or the market is going to collapse ( again ). Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 9, 2015 Share Posted August 9, 2015 (edited) Northampton has become a sclerotic mess - NN1,2 and 3 have a large immigrant demographic, the entire town has a broke council, lower-than-average wages, no real growth or ideas. And of course, stupidly high house prices. Not sure even what the answer is now to truly push the town in a positive direction - the sclerosis seems terminal. Edited August 9, 2015 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 9, 2015 Share Posted August 9, 2015 Northampton has become a sclerotic mess - NN1,2 and 3 have a large immigrant demographic, the entire town has a broke council, lower-than-average wages, no real growth or ideas. And of course, stupidly high house prices. Not sure even what the answer is now to truly push the town in a positive direction - the sclerosis seems terminal. total collapse of the public sector. mass job losses. real austerity. When the unproductive become larger and take more from the productive, society has a real problem. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 10, 2015 Share Posted August 10, 2015 Northampton has a total dichotomy between house prices and local economy. I guess it's the crazy London commuters who are setting the prices at the margins - for now. Quote Link to comment Share on other sites More sharing options...
disenfranchised Posted August 14, 2015 Share Posted August 14, 2015 Northampton has become a sclerotic mess - NN1,2 and 3 have a large immigrant demographic I have lived in NN3 1983-1997, and 2004-now, generally in decent parts of it (Westone, Great Billing etc...). The council / ex-council areas are much less of a dump than they were in the 90's, and the crime and nuissance level is lower at present. Read this article http://www.northamptonchron.co.uk/news/armed-robbers-will-never-shut-us-down-1-948557 especially the last line of it for an idea of what NN3 was like at it's worst in 90's - I still drop into the shop referred to a couple of times a month and its very quiet these days. There don't seem to be many teenagers around the area now compared to 15 years ago, but lots of young kids - when they hit their teens I suspect it will get 'lively' again - there have been a lot of expensive private houses built around NN3 over the last 20 years and although they are a lot cheaper than the newer estates on the west of town, I suspect their values will slump relative to the rest of the market if/when the sink estates in NN3 start churning out a new generation of petty criminal oiks Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 16, 2015 Share Posted August 16, 2015 (edited) I have lived in NN3 1983-1997, and 2004-now, generally in decent parts of it (Westone, Great Billing etc...). The council / ex-council areas are much less of a dump than they were in the 90's, and the crime and nuissance level is lower at present. Really? Walked through Blackthorn / Goldings / Lings recently? I have (my dad lives around this way). Some things are obvious to me :- these places continue to look more and more run-down - litter everywhere, play areas for kids look like they haven't seen a lick of paint since the 80s (or most public areas), graffiti everywhere. Not saying it was pristine in the 80s/90s, but it's just gotten more run-down. you're right that crime was more of a "thing" in the 80s/90s - but I would equate that to a general decline in crime throughout the UK - kids have Facebook now (for better or worse) - they're not even bothering with nightclubs anymore - (and I remember the regular fights outside Ritzy/Cinderallas) - it seems younger generations are getting their "kicks" in other ways now. On the downside, you see a lot less kids out and about - but again, that's a point you could make about the UK in general I currently live in NN1 (rented here for a couple of years) but frequent NN2 and 3 - I think I'll just say it plainly that there's a lot of immigrants in these parts of Northampton. What amazes me is the clean divide of the "apartheid" - e.g. when I've been to a Cobblers or Saints game, it's like you're communing with the "old" town - basically it's locals. Or go to any of the villages (incl. Great Billing) - it's like a clean divide. But in town or poorer suburbs in the aforementioned postcodes I am (anecdotally at least) seeing a lot of immigrants. I get that some may say "so what?" to that - maybe even act a bit superior to my "throwback" concern - but I wonder what it will do to job opportunities, wages, society in general - with such a big change in demographics. All I can do is wonder because it's all too late now - the experiment is well underway, and there's no going back on it. Given all of the above, it amazes me that house prices remain super-high in Northampton - e.g. this terraced property in Blackthorn ... http://www.rightmove.co.uk/property-for-sale/property-48851615.html- is about twice the price of a 3-bed semi you could buy in Abington Vale in the mid 90s (I know this area/time/price range very well). That makes no sense at all to me. Edited August 16, 2015 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 17, 2015 Share Posted August 17, 2015 Really? Walked through Blackthorn / Goldings / Lings recently? I have (my dad lives around this way). Some things are obvious to me :- these places continue to look more and more run-down - litter everywhere, play areas for kids look like they haven't seen a lick of paint since the 80s (or most public areas), graffiti everywhere. Not saying it was pristine in the 80s/90s, but it's just gotten more run-down. you're right that crime was more of a "thing" in the 80s/90s - but I would equate that to a general decline in crime throughout the UK - kids have Facebook now (for better or worse) - they're not even bothering with nightclubs anymore - (and I remember the regular fights outside Ritzy/Cinderallas) - it seems younger generations are getting their "kicks" in other ways now. On the downside, you see a lot less kids out and about - but again, that's a point you could make about the UK in general I currently live in NN1 (rented here for a couple of years) but frequent NN2 and 3 - I think I'll just say it plainly that there's a lot of immigrants in these parts of Northampton. What amazes me is the clean divide of the "apartheid" - e.g. when I've been to a Cobblers or Saints game, it's like you're communing with the "old" town - basically it's locals. Or go to any of the villages (incl. Great Billing) - it's like a clean divide. But in town or poorer suburbs in the aforementioned postcodes I am (anecdotally at least) seeing a lot of immigrants. I get that some may say "so what?" to that - maybe even act a bit superior to my "throwback" concern - but I wonder what it will do to job opportunities, wages, society in general - with such a big change in demographics. All I can do is wonder because it's all too late now - the experiment is well underway, and there's no going back on it. Given all of the above, it amazes me that house prices remain super-high in Northampton - e.g. this terraced property in Blackthorn ... http://www.rightmove.co.uk/property-for-sale/property-48851615.html- is about twice the price of a 3-bed semi you could buy in Abington Vale in the mid 90s (I know this area/time/price range very well). That makes no sense at all to me. Great billing smells of **** That's not changed. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted August 18, 2015 Share Posted August 18, 2015 Great billing smells of **** When a southerly wind blows, it doesn't matter if you paid 7 figures for your property - shit still smells the same. Quote Link to comment Share on other sites More sharing options...
HouseDog Posted August 22, 2015 Author Share Posted August 22, 2015 Death of buy-to-let: landlords wake up to Osborne's 150pc tax http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816720/Death-of-buy-to-let-landlords-wake-up-to-Osbornes-150pc-tax.html Quote Link to comment Share on other sites More sharing options...
Cid Posted September 6, 2015 Share Posted September 6, 2015 Anyone have any figures for a number of BTL properties vs OO around these parts? Be nice to know if this market has any leg to stand on when rich foreigners and the London effect are removed from the equation. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 8, 2015 Share Posted September 8, 2015 Death of buy-to-let: landlords wake up to Osborne's 150pc tax http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816720/Death-of-buy-to-let-landlords-wake-up-to-Osbornes-150pc-tax.html Has anyone driven round the town recently ? SOLD signs everywhere. Someone is buying BIG TIME. I asked the council via twitter to remove SOLD signs from what appear to be public land....still nothing !!! Looking at rightmove/property bee in the last 2 weeks is sickening, we are taling 100% price rises from 2007 in some asking prices now if you ask me. It's crazy crazy crazy. My rent's not gone up in 2 years. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 8, 2015 Share Posted September 8, 2015 Anyone have any figures for a number of BTL properties vs OO around these parts? Be nice to know if this market has any leg to stand on when rich foreigners and the London effect are removed from the equation. Just ask yourself, what is the average local wage....abotu 26K IIRC. 4 x 26K = 104K Average house price, 180K. Most people I know locally are struggling big time. 1 bloke I know into BTL is determined to get a HMO at all costs, that's where the money is it seems. I've deleted him off my phone. Quote Link to comment Share on other sites More sharing options...
pablopatito Posted September 17, 2015 Share Posted September 17, 2015 We're struggling to keep this thread going! Anyway, here is my house of the week: http://www.rightmove.co.uk/property-for-sale/property-36118425.html As usual, that's a lot of money for a very small house (2 bedrooms only upstairs). You have to walk through the lounge and the dining room to get to the kitchen. It's one of the houses where I don't understand why it's got a Grade II listing. It is, after all, just an old barn. I reckon Wootton and Hardingstone must more listed buildings per head of population than nearly anywhere else in the country. It seems like anything pre-Victorian gets a listing. That's not the case in most of the country is it? Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted September 29, 2015 Share Posted September 29, 2015 Detached... http://www.rightmove.co.uk/property-for-sale/property-36614931.html?showcase=true&premiumA=true That size of house on that size of plot really offends me. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 5, 2015 Share Posted October 5, 2015 (edited) http://www.rightmove.co.uk/new-homes-for-sale/property-47333113.html?premiumA=true 300K+ for that !!!! HOLY **** ( Says reduce but price has gone up then down but it's UP from 2 months ago !!! The asking prices are beyong insane locally now. Just see a semi on the welly road up for nearly 500K when they couldnt sell them for 340K 2 years ago. It's mental. Totally mental. Edited October 5, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 5, 2015 Share Posted October 5, 2015 We're struggling to keep this thread going! Anyway, here is my house of the week: I dont think any of us can believe what we are seeing. The price rises between 1999 to 2007 are chicken feed compared to 2014-2015. Does anyone have any real idea of what is going on locally ? All I can see is every town centre house is SOLD. Outside the town centre, cetain EAs are puttng SOLD signs on what looks to be public land but for actual houses they all seem "for sale". How very odd I think as I drive past. Where I am, 1 house has sold all year ( silly money ), 2 have sat SSTC all year and 5 are unsold. I've not viewed a house locally now for years now, Crapy 3 bed detatched in East Huns must be now 10 times local wage. Any decent house....forget it. Quote Link to comment Share on other sites More sharing options...
HouseDog Posted November 1, 2015 Author Share Posted November 1, 2015 Now Game On! Let's see what happens with the arrival of a Buy-to-Let tax. ‘Buy-to-let tax will cut our income by 25pc.' How much will YOU lose?http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11965438/Buy-to-let-tax-will-cut-our-income-by-25pc.-How-much-will-YOU-lose.html Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted November 1, 2015 Share Posted November 1, 2015 We're struggling to keep this thread going! Anyway, here is my house of the week Frankly, I've just become bored of it all. When it comes to watching houce prices, boredom is the stage after incredulity and anger I think. Quote Link to comment Share on other sites More sharing options...
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