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Maybe sanity is starting to reappear in the market.
Not when a converted public convenience sells so quickly at around £1000 per sq foot and our administration hard selling the dream of 'right to buy and we'll help you with another loan'.
They do not want sanity.
But it seems they do want sanitary.They do not want sanity.
What will happen is what always happens.
Sellers will withdraw from the market & anything left on will be assumed as being for sale because it's a fire sale or similar, ergo lower prices will be offered.
When the market recovers properties will return to the market.
As for London & the rest of the UK? London will always be in a bubble, all the prices do is go up at a slower rate. Talk of a crash, in London at least, is being hopeful.
Outside of London with less to attract foreign investment prices can suffer. For many London is still the go to place. Many on here will not agree with that, but it is true for a lot of folks. Whether that's jobs or education or lifestyle - many find London very appealing. As do many find it a horrendous place. Horses for courses..
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I just bought this place in Austria, overlooking the alps with 620m2 garden full of fruit trees - apricot, peach, grape, apple, plum, wallnut. Half an hour south of Vienna with great transport links.
With all fees it came to a grand total of £73,000.
I'm not sure about open pan living.
I just bought this place in Austria, overlooking the alps with 620m2 garden full of fruit trees - apricot, peach, grape, apple, plum, wallnut. Half an hour south of Vienna with great transport links.
With all fees it came to a grand total of £73,000.POSTED 27 MINUTES AGO # REPORT-POST
Lovely!
Any more pics?
I'm not sure about open pan living.
Shirley better than the pressure cooker that is London?
...Still, it makes sure that everyone keeps working, paying tax
Is that such a bad thing ?
Just stumbled across this Zippy and was thinking of those properties. We walked past them after a meal at the Spring the other weekend and a) couldn't understand why anyone would want to live in them and b) the price. Madness
That's nothing in West Hampstead a bedsit cough 'executive studio' went for £425k not so long ago. It was a bloody bedsit with shiny plastics/glass decor. Wtf are people on in parts of London?! You'd have to earn a decent wedge then travel home pressed into another person's sweaty back before walking into your bedsit.
Reality check.
Who drives the house price increases, excitable estate agents? Talk up the market, win the handling of the sale by promising the highest return to the vendor?
Talk up the market, win the handling of the sale by promising the highest return to the vendor?
Ultimately that tactic is self-defeating, if a property is overpriced it will not sell & be reduced.
Agree but in London it's a locked in cycle
Can't imagine the living in a city lark will be very popular if the Brussels Malachi gets to the UK in a big way.
C
mrlebowski - Member
Talk up the market, win the handling of the sale by promising the highest return to the vendor?
Ultimately that tactic is self-defeating, if a property is overpriced it will not sell & be reduced.POSTED 1 HOUR AGO # REPORT-POST
As my Inlaws are finding out.
Even though the low offer they have received for their property (which needs doing up ) still makes it the most expensive 3 bed house in their area.
Who drives the house price increases, excitable estate agents? Talk up the market, win the handling of the sale by promising the highest return to the vendor?
Fear of missing out...
1. A tidal wave of foreign money, much of it speculative, much of it criminal money being laundered
2. Super low interest rates making it 'affordable' to get balls-deep in debt
3. Deliberate government policy to limit building (greenbelt) and Help To Buy
4. A historically high level of appetite for debt amongst buyers
5. Older generation willing to get into more debt to pass on their 'equity' to their kids
6. Buy To Let buying on interest-free mortgages and passing on the costs to tenants
7. Banks needing to make an income somehow in a low interest rate environment
8. Estate agents with a culture of total dishonesty who can't quite believe the idiocy of the great British public
9. The myth that 'you can't lose with property'. We're pretty much hypnotised with this one.
10. A willingness to overpay on the assumption that prices will continue to go up forever even though their already beyond the limit of affordability for wage earners
11. Sellers who think they can charge what they like and offload the debt onto the younger generation.
In the meantime we're passing on ever increasing proportion of our post-tax income to the banks and leaving nothing left for day to day expenditure as we watch the economy flatline, and an increasing proportion of our taxes go to landlords and then to the banks in housing benefit...
Utterly stupid - we're impoverishing ourselves on the altar of super high property prices... as said above if you follow the chain of money it's only really the banks that get richer... cos that's who we're all paying the money to at the end of the day
Utterly stupid - we're impoverishing ourselves on the altar of super high property prices... as said above if you follow the chain of money it's only really the banks that get richer... cos that's who we're all paying the money to at the end of the day
This is very true.
I earn a good salary and still spend about 1/3 of my net income on my mortgage.
20 years ago, it would of been significantly less even with the much higher interest rates.
There is only really the banks making money from inflated property prices.
Iolo - I have house envy..
Brooess your point.10 is where it'll all end.
Everyone that we know has bought bigger houses because it's the social norm to keep moving up the housing ladder. I can't understand that. My ideal home will be a small stone cottage/farm in the sticks.
I know people who have kept their old house, rented it out, remortgaged and then entered a interest only mortgage on their new house. I cant understand that. %inflation rises will kill a new generation of 'must have' house owners. 🙁
This place recently came up for sale along the road from me..
[url= http://www.symondsandreading.com/site/go/viewParticulars?propertyID=335831 ]Scrappy bungalow next to train line..[/url]
It's a mess.
Right next to railway line (as in, trains run RIGHT past the window as it's the old signal house.
Needs complete renovation.
I bet it sells for over £300k.
Crazy!
DrP
hora - Member
That's nothing in West Hampstead a bedsit cough 'executive studio' went for £425k not so long ago. It was a bloody bedsit with shiny plastics/glass decor. Wtf are people on in parts of London?! You'd have to earn a decent wedge then travel home pressed into another person's sweaty back before walking into your bedsit.Reality check.
Who drives the house price increases, excitable estate agents? Talk up the market, win the handling of the sale by promising the highest return to the vendor?
You're old place by any chance Mark?
Brooess plus lots. Well said sir, eloquent and succinct.
Mr Carney must feel like he has entered a bdsm dungeon, his hands are now tied very firmly to ensuring the interest rates stay low and whatever happens, he will be the whipping boy when they do. Still won't be as bad as all the people who can't afford a modest interest rate rise. The B&B's are going to be busy though, following all the repossessions...
What sort of opinions are being spouted how a Brexit might affect interest rates?
nealglover - Member
...Still, it makes sure that everyone keeps working, paying taxIs that such a bad thing ?
Probably not, I think loans, debts, banks rather than taxes.
9. The myth that 'you can't lose with property'. We're pretty much hypnotised with this one.
Too many people are. The amount of conversations I hear to that tone.
https://en.m.wikipedia.org/wiki/Tulip_mania
Too many people are. The amount of conversations I hear to that tone.
I think given recent opinion polls showing, apparently, Osborne is less popular than Corbyn (wtaf! - he's so far away from the centre and is widely held to be unelectable) the masses are now beginning to realise what has been obvious to those that read the financial papers, which is that the economy is not in a good place and has not really recovered at all from 2008 and this is a long-term problem we have (hence interest rates still being at emergency levels they were put at to stave off total collapse of the banks).
House prices are being clung on to by a massively indebted population like a drowning man to a liferaft - hence the rather religious nature of the discussion - there's no facts or data from those that think prices will go up forever except 'they have done since 1995' (and even that's only true in London and SE)...
I really worry that when the situation is such that government can't prevent a crash (as Osborne did in 2013 with HTB and letting the wave foreign money in), how people will cope. We're so dependent on it for positive sentiment. So many seem to have all their feelings of wealth wrapped up in their house price - and their pensions, that when that 'money' disappears, they'll just be left high and dry. No savings, no pension, stuck in negative equity and too late in life to be able to do anything about it...
I agree Brooess, people want to believe they will carry on forever because if they don't they'll will be in a state.
It is so sad all those people desperately saving every penny for a deposit whilst missing out on other fun things.