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HMO owners bailing out wouldn't surprise me. My HMO rent has gone down a lot of late, and for a much nicer place than I had before. My current LL is getting about £1,600 a month (based on 5/6 rooms occupied at any time) from a property with a pre boom value iro £330k (so he could probably still get a bit more at the moment if he sold right now).

If he'd bought the property recently (or even at that price) he'd be in trouble; the numbers just wouldn't work.

Thankfully he seems to have had it a long time and be in for the long game (the property isn't on any online searches) rather than what's best in the short term.

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There has been a turn around in the property market since the interest rates have dropped. That is for certain.

There is increased activity, property bee showing fewer reductions and Cambridge employment appears to be holding up well.

Will be interesting to see what comes next because I haven't a clue. I'm still expecting this to be the main 'bull trap' on the way to the bottom though.

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I've just had an e-mail from Miller advertising their flats at the anthrax dump site.

I wish I could paste it in full, but sadly it's html.

Hilarious key points included:

"We guarantee to pay you 100% of any increase in sale price when we sell your property*"

defined as:

"*Part Exchange subject to terms and conditions, 100% of the difference in sale price will be paid, minus Miller costs, to the previous owner when the property sells for more than Miller Homes paid them for it on legal completion. Part Exchange Price Promise cannot be used in conjunction with any other offer."

Yeah, like they're really going to bust a gut to sell it for more when it's not even in their interests?

And a photo of a room with a Japanese style bed to make it less obvious that it was an attic room with corners cut out the really low ceilings.

Nice work. Having read it I'll now feel privileged to be able to pay £270k for a new build pit built on top of an anthrax dump!

Edited by mikeymadman
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There has been a turn around in the property market since the interest rates have dropped. That is for certain.

There is increased activity, property bee showing fewer reductions and Cambridge employment appears to be holding up well.

Will be interesting to see what comes next because I haven't a clue. I'm still expecting this to be the main 'bull trap' on the way to the bottom though.

Is this reflected in many other areas do you know, if so where or is it everywhere?

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Is this reflected in many other areas do you know, if so where or is it everywhere?

Seems to me to be more about houses new onto the market, selling at prices which attract those who sold ages ago and have patiently waited. This is, I think, the case in Worcester and Norfolk, the 2 areas I am watching. The majority have not a prayer of selling though. The tide has gone out and left them floundering. Most people I know who are able (ie cash) buyers only look at "new on " property on Rightmove and the like. - much lower prices.

Take a long hard look at the Nationwide building society graph of the last few crashes, it makes you realise that if property were to take off now, which it wont, the graph would look very odd, like a sharp "V", what it will look like is a shallow "U", IMHO.

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Is this reflected in many other areas do you know, if so where or is it everywhere?

I only monitor Cambridge city-wide prices in the medium-low range. They have dropped around 15% from peak - as opposed to over 20% nationwide.

However, there has been little movement since Christmas. Anecdotally friends looking to buy locally have seen a lot of competition for each property recently.

On the supply side, across the country mortgages are cheaper than a year ago, and now the deposit requirements are creeping back down. On the demand side the main factors are sentiment and employment. There is currently a more positive sentiment, and Cambridge employment seems to be holding up well.

That is the short term though. As I say I don't know what is going to happen next. Ultimately I want to buy a place but I'm going to wait for the next clear trend. The danger of that is if prices shoot up again, which I still think is the least likely scenario.

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I would agree with your observation here that tings are not as bad as most members in this forum thought it would be, at least now in the Cambridge area.

Of course we all know estate agents have their own agenda, but then their attitude and consequently the sellers will affect the market and poses a dilemma for potential buyers like us.

@ Bug16 not sure what areas you have been monitoring but for the area I aminterested in, i.e. Histon/Impington there have only been two properties that have came back on the market after falling through due to a break in chain, Lonetree avenue and Nuns Orchard. Not sure what the normal rate is but this does not sound too bad. As for the 25-30 properties that have been on the market since October in the 180-260K range only 3 are still not sold after seven months, again I don't think that's an abnormal ratio and there are now only 5-6 properties in this price range compared to about 13 on average over the last seven months.

We have started to look around cheery hinton road/ queen edith way area as of last week, and of the 8 properties that we wanted to view last week, 4 have been sold in the last five days. Particularly http://www.rightmove.co.uk/property-for-sa...y-21995620.html which was on at 220 but offers were already at 250 when I asked. Similarly with http://www.rightmove.co.uk/property-for-sa...y-22042798.html which sold in two days over the asking price.

The point I am making is that even though transaction volumes are down the supply is so scarce that we have already seen and will see competitive bidding that may, much as I wish it otherwise, reverse the price drop somewhat in the near future.

Anyone buying/selling at the moment care to share their experiences?

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I would agree with your observation here that tings are not as bad as most members in this forum thought it would be, at least now in the Cambridge area.

Of course we all know estate agents have their own agenda, but then their attitude and consequently the sellers will affect the market and poses a dilemma for potential buyers like us.

@ Bug16 not sure what areas you have been monitoring but for the area I aminterested in, i.e. Histon/Impington there have only been two properties that have came back on the market after falling through due to a break in chain, Lonetree avenue and Nuns Orchard. Not sure what the normal rate is but this does not sound too bad. As for the 25-30 properties that have been on the market since October in the 180-260K range only 3 are still not sold after seven months, again I don't think that's an abnormal ratio and there are now only 5-6 properties in this price range compared to about 13 on average over the last seven months.

We have started to look around cheery hinton road/ queen edith way area as of last week, and of the 8 properties that we wanted to view last week, 4 have been sold in the last five days. Particularly http://www.rightmove.co.uk/property-for-sa...y-21995620.html which was on at 220 but offers were already at 250 when I asked. Similarly with http://www.rightmove.co.uk/property-for-sa...y-22042798.html which sold in two days over the asking price.

The point I am making is that even though transaction volumes are down the supply is so scarce that we have already seen and will see competitive bidding that may, much as I wish it otherwise, reverse the price drop somewhat in the near future.

Anyone buying/selling at the moment care to share their experiences?

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Sorry the post I sent last night didn't work for some reason.... technical hitches.

Interested in what you had to say. We saw the house in Cambridge Rd Impington just before Xmas - it had been on the market for a long time then and we wondered if there was some problem as other property in Histon/Impington did seem to be shifting. Also interested in your comments on the Cowper Rd house - I find it very hard to believe it could have offers of £30,000 over asking price. However to reiterate what I said in previous post we have definitely found over the last 6 weeks or so that there is a real shortage of properties on the market and those that do come up are just going so quickly that we can't even get to see them. It also bothers me that even if we did get to see them and wanted to offer we'd be caught up in a bidding war which we really don't want to get into. Bit of a nightmare really.............

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BTL profit take time? Or BTL bailout time? :wub:

http://www.rightmove.co.uk/property-for-sa...y-12540885.html

http://www.rightmove.co.uk/property-for-sa...y-12540168.html

http://www.rightmove.co.uk/property-for-sa...y-12540537.html

310 sold in Dec 01 for £55k and May 02 for £65

401 sold in May 07 for £58

Currently let for £550 per month

Only 63 years of the lease left + there is a service charge which includes the cost of the central heating and buildings insurance and this is currently understood to be in the region of £1,400 per annum.

Not somewhere I would invested my money (if I had any)!

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Last one is 416, which was bought for £77k in April 02.

I wonder if they mewed for deposits for more BTLs, or if this is an attempted profit take.

These don't let out particularly fast as they have amazingly weird layouts and no room for a washing machine. Numbers certainly don't add up wrt to buying at the asking price as an "investment"!

And that would be if they get £550, which is also a bit of a slightly hopeful ask. There is certainly competition in this price range.

Edited by mikeymadman
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Offers in region of £465,000. Now that's what I call Fantasy Pricing. Forget about Fantasy Football.

http://www.rightmove.co.uk/property-for-sa...y-22185751.html

Sale Date Price Type Tenure New Build Map Address

11/05/2006 £363,000 Ter. F No Map 10, Blinco Grove, Cambridge, Cambridgeshire, CB1 7TS

18/02/2003 £310,000 Ter. F No Map 10, Blinco Grove, Cambridge, Cambridgeshire, CB1 7TS

17/12/2001 £285,000 Ter. F No Map 10, Blinco Grove, Cambridge, Cambridgeshire, CB1 7TS

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Thanks Ognum.

Visiting http://www.cambridgepropertydatabase.co.uk/ and not being familiar with the site, I ended up spotting this one (one of two actually):

Wimpole 5 Bed New Build

I've been driving past this development every day and watching with amazement as these monstrous houses emerged from a formerly derelict site.

I'd always assumed that they were being built to order. I couldn't imagine that anyone would build such things on spec. So, I was very surprised to see both for sale. And at a time when they are all but complete. I'd have thought for such large and luxurious houses they'd have wanted to secure the buyers in advance of the final decorating and kitchen fitting etc. Even more, I'd have thought the builders would have wanted buyers at the initial design stage to get the floor plans to match their clients' needs.

How wrong can you be.

Well redwing, 5 weeks later and much to my surprise todays property guide shows both these £1.5million house as SSTC, wow that was quick if true!

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Well redwing, 5 weeks later and much to my surprise todays property guide shows both these £1.5million house as SSTC, wow that was quick if true!

Bloody amazed. What's more the SOLD signs went up on both for sale boards on the same day earlier this week.

Perhaps someone so liked them, they bought them both. I shall keep an eye on nethouseprices to see what they really went for in a few months time.

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Sorry the post I sent last night didn't work for some reason.... technical hitches.

Interested in what you had to say. We saw the house in Cambridge Rd Impington just before Xmas - it had been on the market for a long time then and we wondered if there was some problem as other property in Histon/Impington did seem to be shifting. Also interested in your comments on the Cowper Rd house - I find it very hard to believe it could have offers of £30,000 over asking price. However to reiterate what I said in previous post we have definitely found over the last 6 weeks or so that there is a real shortage of properties on the market and those that do come up are just going so quickly that we can't even get to see them. It also bothers me that even if we did get to see them and wanted to offer we'd be caught up in a bidding war which we really don't want to get into. Bit of a nightmare really.............

Given the limited choices in our price range we are starting to look in the 250-300 range now just to see what's available. Have you seen the properties on Glebe way and Macfarlane Close and what do you think?

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Given the limited choices in our price range we are starting to look in the 250-300 range now just to see what's available. Have you seen the properties on Glebe way and Macfarlane Close and what do you think?

Have seen them on the various EA websites but haven't viewed the houses as we are really looking for something older with character. Having said that we did make an attempt to view the Macfarlane Close one a few weeks ago but the vendors were out that day and EA too busy so we didn't. Have you seen these houses? Am also interested in how you know what price these houses are going for? Is this EA info? Am especially interested in how you knew about the Cambridge Road one?

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I see the spitting vicar's house is up for sale. I'm starting to understand why the CoE wanted rid of him so badly.

£2 million in the bank would be nice indeed...

Seriously though, as a local (and someone involved with a community group loosely associated with the church, but not an attendee of it, I got some of the inside info), as I understand it there was a complete clash of personality amongst the vicar and a vocal minority of the congregation... Apparently some of the things he wanted to do e.g provide disabled toilets in the church, use PowerPoint in sermons, etc. were a step too radical for some.

In the same way that the St John's house in town has sold quickly I reckon this one will too: location, location, location... Houses like this don't come up very often and if I had the cash (where did I put that lottery ticket... ) I'd snap it up, or something similar, ASAP, before someone else did.

Edited by hope4crash
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7 Camping Close, Sawston.

The above is on the market at £137,000

: http://www.movewithus.co.uk/07,0,Cambridge...7918,919,00.htm

We are too far away to check this out for our son, who works in Cambridge, looking for his first home. Does anyone know this property/area and could comment for us?

Thanks in advance.

If he works in Cambridge, check out the commute first. I live in Cambridge and work from home, but every time I have to go and work somewhere else leaving Cambridge at rush hour the queues in are horrendous. Miles of slow-moving cars full of grey-faced commuters. I'd rather rent in Cambridge than be mortgaged to the hilt for a one-bedder miles out in a village.

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  • 439 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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