Reading

[fandanman]

 

Whats wrong with walking about town on a Saturday or Saturday night, I do it often,  D-d-do y-y-you m-m-m-mean t-t-t-theres s-s-s-scarey b-b-brown p-p-people or-s-s-sscary b-b-beggers. Keep it up Spyguy only a few cranks agree with you now, its a long time since you ran away.

Reading on the skids? Its funny after checking my areas of interest daily I am noticing lots of properties under offer or SSTC even the 600k - 1.2 ones seem to be flying off the shelves, its like 50% of properties listed sold, haven't seen that since 2015/16. Could be Spring and 3 years of coiled spring effect I suppose ,I dunno the market here just seems to have that whiff of 2012-2013 about it, no rush lets see.

 

 

 

[dougless]

I broadly agree with spyguy so I suppose that makes me a crank but I have been in the Reading area for over 40 years and have seen many ups and downs - it currently feels like its on a downward trajectory.  The transitory nature of many of the well paid residents in the greater Reading area seems to make it more susceptible to economic fluctuations than towns that have a more stable workforce or pattern of commuting.  The fandanman may be correct and Reading is on the up but I am seeing it differently - time will tell.

[Spindler]

1 minute ago, dougless said:

I broadly agree with spyguy so I suppose that makes me a crank but I have been in the Reading area for over 40 years and have seen many ups and downs - it currently feels like its on a downward trajectory.  The transitory nature of many of the well paid residents in the greater Reading area seems to make it more susceptible to economic fluctuations than towns that have a more stable workforce or pattern of commuting.  The fandanman may be correct and Reading is on the up but I am seeing it differently - time will tell.

from my recent visit...it's down

[spyguy]

3 hours ago, fandanman said:

 

Whats wrong with walking about town on a Saturday or Saturday night, I do it often,  D-d-do y-y-you m-m-m-mean t-t-t-theres s-s-s-scarey b-b-brown p-p-people or-s-s-sscary b-b-beggers. Keep it up Spyguy only a few cranks agree with you now, its a long time since you ran away.

Reading on the skids? Its funny after checking my areas of interest daily I am noticing lots of properties under offer or SSTC even the 600k - 1.2 ones seem to be flying off the shelves, its like 50% of properties listed sold, haven't seen that since 2015/16. Could be Spring and 3 years of coiled spring effect I suppose ,I dunno the market here just seems to have that whiff of 2012-2013 about it, no rush lets see.

 

 

 

Nope.

I mean everyone under 25 comes to town to get pissed and puke.

 

[Spindler]

" Reading on the skids? Its funny after checking my areas of interest daily I am noticing lots of properties under offer or SSTC even the 600k - 1.2 ones seem to be flying off the shelves, its like 50% of properties listed sold, haven't seen that since 2015/16. Could be Spring and 3 years of coiled spring effect I suppose ,I dunno the market here just seems to have that whiff of 2012-2013 about it, no rush lets see. "

 

i thought under offer was SSTC !

Sold is at least exchanged then completed

The south east and London market peaked 2015/2016 so what you are saying flies in the face of reason...unless Reading is some kind of shangri la hot spot swimming against the current... and if there s a whiff of 2012/13 that'll be the market before and without HTB about to fall back...it was only low rates back then that stopped prices cratering back to the turn of the millenium or beyond....

Reading imo suffers from lessening momentum of being the UK's pale imitation of silicone valley.....sorry i think its a dump...it does have the train line going for it...(and that only works if you are close in to the station outside that forget it...)but from what i see its so anti car and uber hasnt been licenced there....(its all courtesy buses to the business parks...what a load of stress that would be getting to work if your train is delayed(common)...

Do you have some investment bias going on with reading ? Because if you do...it;s always better to see things how they are not how you want them to be...

Reading....you can keep it ?

 

And that goes for working there...and living there....and oh the salaries are poor to mediocre.....

 

Edited April 28, 2019 by Spindler

[hi5lo5]

3 hours ago, fandanman said:

 

Whats wrong with walking about town on a Saturday or Saturday night, I do it often,  D-d-do y-y-you m-m-m-mean t-t-t-theres s-s-s-scarey b-b-brown p-p-people or-s-s-sscary b-b-beggers. Keep it up Spyguy only a few cranks agree with you now, its a long time since you ran away.

Reading on the skids? Its funny after checking my areas of interest daily I am noticing lots of properties under offer or SSTC even the 600k - 1.2 ones seem to be flying off the shelves, its like 50% of properties listed sold, haven't seen that since 2015/16. Could be Spring and 3 years of coiled spring effect I suppose ,I dunno the market here just seems to have that whiff of 2012-2013 about it, no rush lets see.

 

 

 

https://houseprices.io/?q=Rg6

In the last 6 months, the RG6 postcode (wider than your search area) there were less than 200 properties exchanged with just only under 10 paid over 600+.

Reading is good place live but the local pay didn't match the hype of M4 corridor. A large proportion of Reading population tends to work in London as IT contractors. The new IR35 changes for private sector coming in April 2020 will have serious effect on those living in Reading and working in London. Those who will be found inside IR35 will no longer be able to claim travel expenses pre tax. The real cost of travel will be shot up by 45%. 

On the other hand the S24 is taking an effect in Reading, lots of 2/3 bed flat and house on the market with no onward chain. The price of these properties are way over and will never meet any lenders income criteria for the BTLers to touch. The will be more properties coming into the market when the new 300+ Build to rent project just next to the train station is completed.

In my view, Reading house prices will be determined by

S24

IR35

Delay of Xrail

Build to rent

Tenant fee ban, hoping the reality will kick in for the EAs to value the properties realistically

 

 

 

[Spindler]

7 minutes ago, hi5lo5 said:

 

.i wouldnt argue with any of that....but i think i know someone who will ?

On reading that if reading was a share i'd get rid pronto...totally get that on the IR35...they are going to get a shock and thats not taking into account a lot of this mob are in the **** for avoiding paying their dues going back years and a lot of them probably live in and around Reading

Edited April 28, 2019 by Spindler

[fandanman]

1 hour ago, Spindler said:

from my recent visit...it's down

It doesn't matter what you or the other cranks think the facts speak for themselves, plenty of articles around stating this.

hi5lo5, you have backed up my point with houseprice.io data that only goes up to mid Feb, I said that recently I have noticed lots of properties turning to SSTC or under offer, have a look at those houseprices.io figures in 6 months time.

 

"The south east and London market peaked 2015/2016 so what you are saying flies in the face of reason...unless Reading is some kind of shangri la hot spot swimming against the current"  Strange but It must be because I am just looking at a RG6 house on Zoopla and it looks like its dropped 0.5% over 3 years whereas if you do the same with parts of London and South East its nearer 10%. Very very strange, I wonder if its because London and the South East have micro property markets and I wonder if some parts of the South East are more attractive because they have plenty of work, excellent transport links, biggest digital hub outside London, Crossrail coming, excellent schools, I dunno Sherlock waddya reckon?

 

"Reading....you can keep it ? " Thanks I will and plenty of others moving here will as well?

 

[Spindler]

cranks lol = Contrarians to my viewpoint

[fandanman]

Nice come back?

[spyguy]

On 28/04/2019 at 12:05, hi5lo5 said:

https://houseprices.io/?q=Rg6

In the last 6 months, the RG6 postcode (wider than your search area) there were less than 200 properties exchanged with just only under 10 paid over 600+.

Reading is good place live but the local pay didn't match the hype of M4 corridor. A large proportion of Reading population tends to work in London as IT contractors. The new IR35 changes for private sector coming in April 2020 will have serious effect on those living in Reading and working in London. Those who will be found inside IR35 will no longer be able to claim travel expenses pre tax. The real cost of travel will be shot up by 45%. 

On the other hand the S24 is taking an effect in Reading, lots of 2/3 bed flat and house on the market with no onward chain. The price of these properties are way over and will never meet any lenders income criteria for the BTLers to touch. The will be more properties coming into the market when the new 300+ Build to rent project just next to the train station is completed.

In my view, Reading house prices will be determined by

S24

IR35

Delay of Xrail

Build to rent

Tenant fee ban, hoping the reality will kick in for the EAs to value the properties realistically

 

 

 

I agree there's a fair few contractors in the Reading area.

However Id doubt their numbers reach nowhere near 1% of the RGx population.

The IR35 changes on travel expenses will be interesting, in a painful way.

 

 

[spyguy]

Id point out there is a massive probability that people contracting will be very likely to be affected by S24 too, 5+ BTL and contracting seem to go hand in hand.

Edited April 30, 2019 by spyguy

[Bear Hug]

On 27/04/2019 at 16:14, spyguy said:

Ive watched the vid.

Now do the upwardly mobile (if prices dont crash...) Asian couple look like the people who drink in the Purple turtle ffs? I loved purple turtle in its old place, danny was a great ll. Its on the crawl  for our meet ups - actually its just the hopback place, the indian snack place bhel puri then turtle then our trains back.

Ive never met a yuppy looking couple in there. Pissed nurses, way over aged bikers yep.

Agreed, that was quite a bit of fiction in there.  I've been way too sober to be able to tolerate the Purple Turtle every time ended up there when everything else was already shut.  And if it was too much for me, I just can't imagine that couple in there.

[spyguy]

25 minutes ago, Bear Hug said:

Agreed, that was quite a bit of fiction in there.  I've been way too sober to be able to tolerate the Purple Turtle every time ended up there when everything else was already shut.  And if it was too much for me, I just can't imagine that couple in there.

The way the film was cut it looked like the purple turtle was some elaborate cocktail bar.

I never used to go in there without boots on, so i could use the toilet with getting wet feet.

 

[APerson]

I can confirm central reading is uninhabitable at this point. Mass immigration has eliminated any social cohesion. Speaking with the lady that cuts my hair, the schools are totally falling apart both in terms of finance and dicipline.

[spyguy]

Heathrow must curb pollution to avoid airport expansion ‘disaster’

https://www.ft.com/content/ea9a8880-7e21-11e9-81d2-f785092ab560

Heathrow ... extra runway ... pollution ,,,

A number of commentators nail it

Dead Ringa

The M4 already needs widening to 5 lanes in each direction up to Heathrow and from there 4 lanes in each direction up to Reading. A new runway without this will mean the M4 corridor becomes a permanent traffic jam and the cost will be felt by all industry and business as far out as Bristol. Traffic will also be shifted on to the M3 creating more congestion. Money is being squandered on ’smart’ Motorway upgrading as a civil service fad instead of being used to electrify the railways. The new electric/diesel trains are always creating trouble. It was madness to agree a third runway. Gatwick is the place for three runways.

The cross rail improvements are going to be expensive and negligible - its extra capacity - at a high price, rather than much inthe way of a time improvement.

However .... as it stands, putting more capacity in Hrow will grid lock the M4 corridor.

 

 

 

 

[Bear Hug]

On 28/05/2019 at 17:08, spyguy said:

 

The M4 already needs widening to 5 lanes in each direction up to Heathrow and from there 4 lanes in each direction up to Reading. A new runway without this will mean the M4 corridor becomes a permanent traffic jam and the cost will be felt by all industry and business as far out as Bristol. Traffic will also be shifted on to the M3 creating more congestion. Money is being squandered on ’smart’ Motorway upgrading as a civil service fad instead of being used to electrify the railways. The new electric/diesel trains are always creating trouble. It was madness to agree a third runway. Gatwick is the place for three runways.

The cross rail improvements are going to be expensive and negligible - its extra capacity - at a high price, rather than much inthe way of a time improvement.

However .... as it stands, putting more capacity in Hrow will grid lock the M4 corridor.

It's been 50 (roadworks) pretty much all the way to M25 for a while now.  All part of the "smart" experiment to make that trip to London more irritating and much more dangerous.

https://highwaysengland.co.uk/projects/m4-junctions-3-12-smart-motorway/

[spyguy]

1 hour ago, Bear Hug said:

It's been 50 (roadworks) pretty much all the way to M25 for a while now.  All part of the "smart" experiment to make that trip to London more irritating and much more dangerous.

https://highwaysengland.co.uk/projects/m4-junctions-3-12-smart-motorway/

Ive not driven within 50 miles of the m25 for 20 years now. Ill only train it to london/se. Lifes too short.

[Bear Hug]

https://www.getreading.co.uk/news/business/price-fixing-estate-agents-berkshire-16426604

Quote

The watchdog alleges Michael Hardy, Prospect, Richard Worth and Romans all broke the law by setting up the "cartel" where they set minimum levels of commission fees for the sale of homes.

It is thought the alleged "cartel" lasted for almost seven years and had been running from at least September 2008.

The watchdog says the result of such price-fixing is that homeowners may be denied getting the best possible deal when selling their homes, as they were unable to shop around for the best rates.

The CMA says the agents:

• Agreed that they would all apply minimum commission rates for residential property sales
• Exchanged confidential pricing information  
• Held meetings and colluded to make sure that they were all enforcing and maintaining the agreed minimum commission rates.

I note this is sales rather than lettings but this probably explains the ridiculous letting fees (until 1 June this year !) in Reading area.  

[spyguy]

2 hours ago, Bear Hug said:

https://www.getreading.co.uk/news/business/price-fixing-estate-agents-berkshire-16426604

I note this is sales rather than lettings but this probably explains the ridiculous letting fees (until 1 June this year !) in Reading area.  

These things happen.

A refund of all sales commision over the last 10 years and large fines, company and on the individuals EAs, personally,  will fix it.

[spyguy]

On 14/09/2018 at 21:33, Bear Hug said:

Romans estate agents are almost a monopoly in Reading.  They even bought Atlantis (another massive agent) couple of years ago.  And they are not doing that well right now.

https://www.propertyindustryeye.com/loss-of-20m-revealed-in-latest-accounts-for-leaders-romans-group/

Accounts themselves are here:

https://beta.companieshouse.gov.uk/company/09939099/filing-history/MzIxNDExOTU2OWFkaXF6a2N4/document?format=pdf&download=0

It all looks very debt-heavy.  I hope they become as successful as Countrywide is in the next couple of years.

Wonder how that debt is working out?

[spyguy]

https://www.getreading.co.uk/whats-on/music-nightlife-news/reading-after-dark-nightclub-face-16414556

After Dark is based in a former biscuit factory, and has been a club for decades. It is surrounded by newly built flats.

Aahhhhhhh

[spyguy]

Bad news just keeps rolling in

https://www.getreading.co.uk/news/business/reading-prudential-office-set-close-16419454?utm_source=taboola&utm_medium=display&utm_campaign=exchange

A company which has provided employment for thousands of people for more than 50 years will close its offices in Reading as it shifts its focus to Scotland.

Prudential, which employs 600 people at its office in Kings Road, has announced it is to begin a "phased move" which will see its operation reduce from seven UK locations to three.

[spyguy]

Lovely

https://www.getreading.co.uk/news/local-news/gallery/broadway-1960s-and-1970s-7894861

[spyguy]

On 12/09/2018 at 12:21, dougless said:

I would add to your list the lack of serious old money in Reading.  As a town, Reading has a very different feel to say Guildford, a town that is infused and surrounded by serious wealth.  Reading seems to be dependent on high wages from IT and Insurance  related business' and I am expecting Brexit will damp that down.

You can scratch that one now.