Newcastle Upon Tyne

[stuckmojo]

I was just checking the mood in the office visavi what people will vote. It seems people are actually going to vote for labour. I guess it shouldn't be a surprise. I dont have the historical baggage of experiencing the cuts in the 80s so I guess it's different for me, even though I am not even allowed to vote

Actually scaring me slightly that people are so stuck in their ways they can't see how far down the p00-tube we will be.

Rant over.

I've stopped looking at property now actually.

Up here people would vote Labour even if they promised to gang rape every first born child per family. It's built into the mentality.

Plus, some 70% of the salaries in NC are paid by the Government. Turkeys don't vote for Christmas, and Chavs on the 3rd generation dole payroll don't do it either.

[Snafu]

Up here people would vote Labour even if they promised to gang rape every first born child per family. It's built into the mentality.

Plus, some 70% of the salaries in NC are paid by the Government. Turkeys don't vote for Christmas, and Chavs on the 3rd generation dole payroll don't do it either.

Yepp, I can just see that being reinforced further if the tories do win - public sector would be cut again.

The quote my workmate: "My dad would not let me in the house if I voted tory".

[meow]

Man do those charvas go at it on and around the city wall.

Up here people would vote Labour even if they promised to gang rape every first born child per family. It's built into the mentality.

Plus, some 70% of the salaries in NC are paid by the Government. Turkeys don't vote for Christmas, and Chavs on the 3rd generation dole payroll don't do it either.

I really wish I could disagree with this, but nope, that's how it is. Completely mad.

[deeplyblue]

I really wish I could disagree with this, but nope, that's how it is. Completely mad.

Not really, most people don't vote by a rational process of working out which party would do the best for them, their region or the country. They vote the way they have always voted - which is usually a question of tribal loyalty.

PLEASE NOTE: I AM NOT ENDORSING EITHER OF THE TWO STEREOTYPES WHICH FOLLOW:

Round here voting for the Tories can show that you are in favour of throwing people out of work, of giving money to the rich and starving the poor, that you want to see manufacturing industries destroyed and money given to toffs who've never had to do an honest day's work in their life. The Tories hate everyone who is poor, except for the fact that they can be made to work for less than it costs to stay alive. This system supports the rich in their life of cruises in the Caribbean and shopping trips in New York. They want to keep Northerners out of work, so that Southerners can have champagne and caviare.

I have lived in other parts of the North where voting Labour is to show you are in favour of giving money to idlers and crooks who think that people who actually do the work should pay for them to spend all day in doors smoking fags that they haven't paid for and watching TV which encourages communists to destroy everything that Britain stands for. A Labour supporter wants to stop parents giving their children a decent education, and wants to take money from thrifty and give it to the extravagant. A Labour supporter wants to destroy the farmers who have fed the nation for centuries to hand out money to townees.

PLEASE NOTE: I AM NOT ENDORSING EITHER OF THE TWO STEREOTYPES JUST DESCRIBED

In fact most people's vote has no more to do with deciding policy, than their choice of football team has to do with supporting the team which plays the best football. (Or their choice of Protestant or Catholic has to do with a theological investigation of which one will get them into heaven.)

This is why it is only a small number of swing voters who decide the outcome of most general elections - an impact magnified by the first past the post system. Count up the number of "safe" seats which each of the two major parties have, and you can see that it is only a minority of seats that are really susceptible to electoral swings.

Having said that, I understand that this trend is less marked now than it was a couple of decades ago. People cannot now be relied upon to vote quite the way they once were, but the "vote Tory and you'll be ostracised as a blackleg" mentality still survives in some parts even of County Durham.

Of course in Scotland the presence of the Scots Nats has allowed the possibility of voting against Labour, without actually voting Tory. The presence of Lib Dem councils in Durham and Newcastle has shown that this can be done locally as well, but so far this has not had much effect on the national scene - this coming election, with the tantalising prospect of a hung parliament, could be interesting from that point of view. But I doubt it.

db

Edited March 3, 2010 by deeplyblue

[meow]

Fair point, but I'm not necessarily saying that in support of the tories, more in support of anyone but labour. I can't help but feel a little actual competition for votes in the north east might help things.

[deeplyblue]

Fair point, but I'm not necessarily saying that in support of the tories, more in support of anyone but labour. I can't help but feel a little actual competition for votes in the north east might help things.

Agreed - see comments on the effect of a genuine Scot Nat voting option (i.e. not just crank or protest vote) north of the border. Perhaps we should ask Alex Salmond to consider setting up a Northumbrian branch!

db

Pause for hat tip to the late Michael Foot, who was totally unsuited to be a party leader, and with most of whose views I disagreed, but he was a thinker, a fine writer, a gentleman and (this counts a lot in my house) a bibliophile.

Edited March 3, 2010 by deeplyblue

[Designer1234]

Sanderson Villas, St James Village, Gateshead - Crashing 2010

I anticipate 2010 will see the regions crash spreading into recent developments like St James Village as they start to go to the market/time for the repossession cycle has taken place (ie lots of missed payments, final demands etc)

Number 79 Sanderson Villas (2 bed flat) was only sold new two years ago in Feb 2008 for £165.

Now Andrew Craig (Durham Road branch) is advertising it via Public Notice (repo?) as having an offer of £75K. Thats a spectacular 90k or 55% crash in 24 months,

[stuckmojo]

Sanderson Villas, St James Village, Gateshead - Crashing 2010

I anticipate 2010 will see the regions crash spreading into recent developments like St James Village as they start to go to the market/time for the repossession cycle has taken place (ie lots of missed payments, final demands etc)

Number 79 Sanderson Villas (2 bed flat) was only sold new two years ago in Feb 2008 for £165.

Now Andrew Craig (Durham Road branch) is advertising it via Public Notice (repo?) as having an offer of £75K. Thats a spectacular 90k or 55% crash in 24 months,

Doesn't surprise me one bit. It's sitting between the car dealerships, the stadium and the boklok horrors, also surrounded by a couple of very scary streets. What really gets me is the initial 165k price? Who are the mugs who bought it?

[meow]

£165k for one of those!!!!

I would think twice before paying 75k, nevermind 165k! I've looked in those flats before and I don't rate them much... to put it mildly.

Edited March 8, 2010 by meow

[Durham Lad]

Hi Guys,

My first post, though I’ve been reading Housepricecrash every week for the last 4 years or so. Have to give everyone who has ever contributed a big thank you for your part in educating this simple Durham Lad. Thanks to this site I have avoided making a lifelong mistake of buying a house at the wrong time.

Many on Housepricecrash argue that the only option for now is to wait the phoney war out, till house prices are 20% or 30% lower or even more. This makes a lot of sense to me, but I am faced by a dilemma, and hopefully the more experienced members might know the best solution.

I have about 40% saved for a home; and wouldn’t normally think of getting a mortgage for a couple of years at least. Britannia Building Society however has come out with a 10 year fixed mortgage at 5.49% which would allow me to pay off the entire loan over ten years. The dilemma is whether to wait for a couple of years, when house prices should be lower but mortgage rate will be say 7% to 8%, or buy now when the house price is overpriced but the rate is unlikely to get any better on a ten year fixed?

[Designer1234]

Du dung !!!! The 30K barrier is smashed in Bensham and we are now down to £20K - almost credit card prices. Not much further now to the low teens that Bensham properties sold for in circa 2000-2001.

£20 in Gateshead, 1 mile from the Quayside

[Designer1234]

Hi Guys,

My first post, though I’ve been reading Housepricecrash every week for the last 4 years or so. Have to give everyone who has ever contributed a big thank you for your part in educating this simple Durham Lad. Thanks to this site I have avoided making a lifelong mistake of buying a house at the wrong time.

Many on Housepricecrash argue that the only option for now is to wait the phoney war out, till house prices are 20% or 30% lower or even more. This makes a lot of sense to me, but I am faced by a dilemma, and hopefully the more experienced members might know the best solution.

I have about 40% saved for a home; and wouldn’t normally think of getting a mortgage for a couple of years at least. Britannia Building Society however has come out with a 10 year fixed mortgage at 5.49% which would allow me to pay off the entire loan over ten years. The dilemma is whether to wait for a couple of years, when house prices should be lower but mortgage rate will be say 7% to 8%, or buy now when the house price is overpriced but the rate is unlikely to get any better on a ten year fixed?

good for you durham lad - you say you are looking for a home which is good rather than the "i" word - investment. a lot of the losses have been taken, but i still feel we are on the edge of an abyss - we wont know how bad until the election is over - and thats june at the latest. i've just seen today that baltic quays shoeboxes have hit new lows of £110K, but they still have some way to go. You're right, rates might/will go up after the election, but do the sums - if you just need a nice solid tyneside flat close to the city centre - look in bensham and wait until it falls to the right price - now around £40k.

disclaimer - none of what I have said is advice, just my personal opinion.

cheers

[Durham Lad]

Thanks rich1234,

I am after a real house, and not a flat. The dilemma is: Is it better to pay £1080 fixed for 10 years on a 100k mortgage, or wait a couple of years and get a smaller mortgage at a higher rate which might even cost more? You can see I'm not the best at maths!

I'm starting to wonder if the plan to wait might in fact be a waste of two good years!

Cheers all.

[deeplyblue]

Hi Guys,

My first post, though I’ve been reading Housepricecrash every week for the last 4 years or so. Have to give everyone who has ever contributed a big thank you for your part in educating this simple Durham Lad. Thanks to this site I have avoided making a lifelong mistake of buying a house at the wrong time.

Many on Housepricecrash argue that the only option for now is to wait the phoney war out, till house prices are 20% or 30% lower or even more. This makes a lot of sense to me, but I am faced by a dilemma, and hopefully the more experienced members might know the best solution.

I have about 40% saved for a home; and wouldn’t normally think of getting a mortgage for a couple of years at least. Britannia Building Society however has come out with a 10 year fixed mortgage at 5.49% which would allow me to pay off the entire loan over ten years. The dilemma is whether to wait for a couple of years, when house prices should be lower but mortgage rate will be say 7% to 8%, or buy now when the house price is overpriced but the rate is unlikely to get any better on a ten year fixed?

Have you found a house you like?

Do you think you will like it still in 3-4 years' time?

Others will tell you whether or not property in general and the area you are looking in particular are good buys. What I can tell you is that a house you are going to hate in 18 months' time is a bad buy now - and most of the rest of the time too. There are a few people for whom buying houses and then selling them is an agreeable way of life. For the rest of us it should mainly about somewhere to live and, perhaps, to raise a family.

What I will say is that with bank base rates at 0.5%, only those on tracker mortgages have had mortgage interest rates at anything like 0.5%. Sooner rather than later base rates are going to have to rise again, and I do not believe that we are going to see mortgage rates falling much below 4% during the next ten years, and they could rise well above 8% (I remember the days of 12%+ mortgage rates). So 5.49% fixed for 10 years sounds quite good to me, but others may have better forecasting skills (or better knowledge of the current market).

So my advice, based on "feel" rather than statistics is:

• Don't buy a house basically as an investment

• Don't put your life on hold waiting for the right moment to buy a house

• Make sure that any house you do take is a reasonably good buy (sound, not in bandit country etc)

• Pick a house you think you can live in during this phase of your life. (There's no point in buying a house for all possible phases of your life - don't get one fit for grandchildren when you haven't met someone with whom you want to raise children, or if you intend to move to New Zealand in 3 years' time. Don't buy a bachelor pad if you're beginning to get broody.)

Good luck

db

Edit: I wrote this in two chunks, and missed your earlier reply that are looking for a home. I'd say, make sure you know what sort of a home you want. And then don't buy a new build flat!

Edited March 13, 2010 by deeplyblue

[Guitars]

Du dung !!!! The 30K barrier is smashed in Bensham and we are now down to £20K - almost credit card prices. Not much further now to the low teens that Bensham properties sold for in circa 2000-2001.

£20 in Gateshead, 1 mile from the Quayside

I'm renting in Bensham at the moment and thinking about buying here. There's been loads of this type of property going to auction, I've been keeping my eye on the local market for over 3 years. Auctions scare me, although I'm not sure why, so I'm ignoring all these types of listing. I think asking prices on these auctions have little relation to what they're actually sold at, the agents are just trying to drum up interest.

At the moment I've not seen so many For sale signs up since the boom when I watched the same flats being flipped monthly, prices going up each time.

Loads of new Sold signs over the past few weeks too, which is making me anxious but I'm also uneasy with so many flats around here that were going for a third of their current price from as early as 2003. So I'm stuck in limbo.

With the Tyneside flats I've been looking at, my instincts tell me they're only worth 40-55k but asking prices are still around 70-80k. For that price I might as well get a car and buy a proper house with a garden somewhere out of the way, like Wrekenton.

So I'm stuck, don't know what to do. I'm looking in the bottom end of the property ladder (although I actually think I earn a decent wage for the area) but there's nothing I feel is worth the money.

[meow]

I've been noticing recent south-of-the-river (gateshead/south tyneside) listings starting at 30k for flats, 45-60 for houses, it's seemed to "all of a sudden" happen sometime around February. First time I've seen a 20k "house" though!

Edited March 15, 2010 by meow

[dieseldriven]

although I actually think I earn a decent wage for the area) but there's nothing I feel is worth the money.

This would appear to be the key, if you can't afford it on a 'decent wage' who can?. There is only so much bank of mum and dad cash kicking about. Something has to give.

[meow]

Thanks rich1234,

I am after a real house, and not a flat. The dilemma is: Is it better to pay £1080 fixed for 10 years on a 100k mortgage, or wait a couple of years and get a smaller mortgage at a higher rate which might even cost more? You can see I'm not the best at maths!

I'm starting to wonder if the plan to wait might in fact be a waste of two good years!

Cheers all.

As always, take hold of your "internet forum, could be a nutter, no idea what they're on about" pinch of salt, but...

I would wait, I'm seeing movements recently that seem to suggest the bottom is falling/has fell out of the market and there's only one way the rest of the market can go when lesser properties start to show a widening price discrepancy.... i.e. 3 bed terrace house in crappy area 20k, flat in "decent" area not too far away 100-120k... erm , now I know location is important (and that house is in a dumpy area and probably needs a major refurb), but is "that" much of a difference in price reasonable?

Instead of looking at mortgages, try looking at actual investments for your money, get an isa now if you don't have one and another in the new tax year, get a high interest savings account, see an IFA and ask about shares, concentrate on protecting your deposit in other ways than property as I think a lot of people are going to find (including those who bought 2009) it's going to turn into "more of a loss" than any other investment.

Edited March 15, 2010 by meow

[meow]

This would appear to be the key, if you can't afford it on a 'decent wage' who can?. There is only so much bank of mum and dad cash kicking about. Something has to give.

I believe something is "giving", ignore the national price indices, look at the regional details. The NE is on a one way path.

Edited March 15, 2010 by meow

[Quokka]

Auctions scare me, although I'm not sure why, so I'm ignoring all these types of listing. I think asking prices on these auctions have little relation to what they're actually sold at, the agents are just trying to drum up interest.

There are some genuine reductions going to auction. I missed out on one last year, which was a forced sale (divorce), that failed to sell and was sold via the agent days later at the guide price. Something similar I've just spotted here in a decent street in Birtley:

http://andrewcraig.aspasia.net/pls/craig/docs/185324i.pdf

Not seen this Auction before http://www.agentspropertyauction.com/property-serch.html Most local stuff listed by Pattinsons so good to see competition.

[deeplyblue]

Auctions scare me, although I'm not sure why, so I'm ignoring all these types of listing.

People do get carried away at auctions and think, "just an extra 2.5K" and then discover they've spent 10K more than they could afford.

Second thing is - how well do you know what you're buying? I wouldn't buy a house without a survey, and who wants to commission a survey for every house you are interested in at auction? Have you been round the place, seen how much work you think might need doing? Checked the area at night to see if your prospective front garden is the local drinking den or knocking shop?

There are bargains to be had at auction - no doubt about it - but I wouldn't recommend it for a FTB, unless they were well-acquainted with the area and prepared to do whatever turned out to be necessary to the house - which could mean a lot of time, money and worry.

db

[Quokka]

People do get carried away at auctions and think, "just an extra 2.5K" and then discover they've spent 10K more than they could afford.

Second thing is - how well do you know what you're buying? I wouldn't buy a house without a survey, and who wants to commission a survey for every house you are interested in at auction? Have you been round the place, seen how much work you think might need doing? Checked the area at night to see if your prospective front garden is the local drinking den or knocking shop?

There are bargains to be had at auction - no doubt about it - but I wouldn't recommend it for a FTB, unless they were well-acquainted with the area and prepared to do whatever turned out to be necessary to the house - which could mean a lot of time, money and worry.

db

Agree, I would not bid at auction. There is a buyers premium to pay, I think, and you would likely be bidding against the chandelier as Mr Rich has pointed out for us.

My previous post was proposing using the auction as a sign of distressed sales. Sellers who need to sell will be easily talked into the auction route, which is a big money spinner for the agents. If they fail to sell they are more likely to accept a low offer via the agent. No problem then arranging surveys etc.

[Durham Lad]

Thanks Deeplyblue & Meow,

Your advice is sound and as I'm not in a hurry I'll keep looking and waiting.

Keep up the good work!

DL

[tccambs]

There are some genuine reductions going to auction. I missed out on one last year, which was a forced sale (divorce), that failed to sell and was sold via the agent days later at the guide price. Something similar I've just spotted here in a decent street in Birtley:

http://andrewcraig.aspasia.net/pls/craig/docs/185324i.pdf

Not seen this Auction before http://www.agentspropertyauction.com/property-serch.html Most local stuff listed by Pattinsons so good to see competition.

Did anyone go to this auction? Can't see anywhere on there website where they publish results.

Would be interested to see what the mortuary chapel in Consett sold for. It was pretty much my wife's dream property, except for the significant drawback that it is in Consett.

[AndyB in Consett]

It was pretty much my wife's dream property, except for the significant drawback that it is in Consett.

What's wrong with Consett?