Where will the property bubble burst first?

[Wight Flight]

3 hours ago, Hancock said:

£290k to be the poshest pikey in Ringwood.

The fuckers tried it on at £325k

If this isnt the most insane bubble ever then we are fucked.

 

We can't blame the banks for that one. I don't think you can get a mortgage on one.

[Hancock]

10 minutes ago, Wight Flight said:

We can't blame the banks for that one. I don't think you can get a mortgage on one.

I dont think anyone would want to, a Pikey would just pitch up on the land next door and build it himself for £30 grand or so.

Im barely rich enough to be trailer trash in southern England.

[HousePriceMania]

1 hour ago, Hancock said:

I dont think anyone would want to, a Pikey would just pitch up on the land next door and build it himself for £30 grand or so.

Im barely rich enough to be trailer trash in southern England.

To be fair, a qualified GP couldn't afford to live there.

This is what says to be....BUBBLE...more than anything.

[Bobthebuilder]

Found you a bargain Mr @Hancock, nice bit of tarmac on it as well.

https://www.rightmove.co.uk/properties/119278331#/?channel=COM_BUY

 

 

[Chewing Grass]

5 minutes ago, Bobthebuilder said:

Found you a bargain Mr @Hancock, nice bit of tarmac on it as well.

https://www.rightmove.co.uk/properties/119278331#/?channel=COM_BUY

 

 

Seen this happening near me, grass verges for sale.

This one is priced at £10K and I could only see the adjoining property buying it to stop somebody else.

Then there is the caveat.

We are informed the site is within the local highway network and therefore any prospective owner would need to speak to the highways department prior to any application to carry out any work.

The tree has a TPO on it as well.

[Hancock]

7 minutes ago, Bobthebuilder said:

Found you a bargain Mr @Hancock, nice bit of tarmac on it as well.

https://www.rightmove.co.uk/properties/119278331#/?channel=COM_BUY

 

 

Buy it, and stick a road toll for people wanting to get home.

Capitalism 21st century style.

[Hancock]

3 minutes ago, Chewing Grass said:

Seen this happening near me, grass verges for sale.

This one is priced at £10K and I could only see the adjoining property buying it to stop somebody else.

Then there is the caveat.

We are informed the site is within the local highway network and therefore any prospective owner would need to speak to the highways department prior to any application to carry out any work.

The tree has a TPO on it as well.

Ive seen plenty of them in recent years, seems to be councils looking to top up the pension pot.

But someone must be buying them, there must be a profit in it in some way.

[Bobthebuilder]

Just now, Hancock said:

Ive seen plenty of them in recent years, seems to be councils looking to top up the pension pot.

But someone must be buying them, there must be a profit in it in some way.

Agree, it must be the local council raising revenue. Let's face it, both of those examples are going to be bought by residents on the street, to stop someone else doing something nasty. Let's hope this is not a new council tactic, really disgusting if it is, but would not surprise me at all.

[Frank Hovis]

17 hours ago, Bobthebuilder said:

Agree, it must be the local council raising revenue. Let's face it, both of those examples are going to be bought by residents on the street, to stop someone else doing something nasty. Let's hope this is not a new council tactic, really disgusting if it is, but would not surprise me at all.

 

The motivation is usually to get rid of the cost of the requirement to maintain the land; and there isn't much that you can do with a thin grass strip.

If you approached your local council or housing association and asked to buy every grass verge they had they wouldn't be able to get the sale documents out fast enough.

You might then be able to make some money by selling to adjoining houses as in the map above.

You would however still have to pay out for the grounds maintenance on all the verges that you can't sell.

 

[Bobthebuilder]

7 minutes ago, Frank Hovis said:

 

The motivation is usually to get rid of the cost of the requirement to maintain the land; and there isn't much that you can do with a thin grass strip.

If you approached your local council or housing association and asked to buy every grass verge they had they wouldn't be able to get the sale documents out fast enough.

You might then be able to make some money by selling to adjoining houses as in the map above.

You would however still have to pay out for the grounds maintenance on all the verges that you can't sell.

 

An old schoolmate of mine lives in a cul-de-sac with a lot of grass verges. He works for the local council, it's not his job to cut the grass, but started doing it a decade ago when local cutbacks meant the grass grew a bit long.

Now people in the close moan at him when they get a bit untidy, as they now presume it's his responsibility.

Good intentions and all that.

[Frank Hovis]

1 minute ago, Bobthebuilder said:

An old schoolmate of mine lives in a cul-de-sac with a lot of grass verges. He works for the local council, it's not his job to cut the grass, but started doing it a decade ago when local cutbacks meant the grass grew a bit long.

Now people in the close moan at him when they get a bit untidy, as they now presume it's his responsibility.

Good intentions and all that.

 

I saw the council guy doing the cutting one lunchtime when out for a walk.

It was one guy on a small sit on mower who was doing an amazing job of manoeuvring the mower around obstacles and up slopes; it was incredibly quick and if it was an Olympic sport he'd have been in the medals.

Some of them probably do think it's his job now.  I used to be regularly taken to be a member of staff in the Barbican centre for some reason.

[HousePriceMania]

Someone on TOS posted this

 

 

a) It's welcome news that house prices collapsed 5% in 1 month oop north

b) But look at those New build figures.  Help To Buy in action !!!

[Boon]

It does seem slightly mad that new build is jumping like that, as from what I can see the prices of flats has not really gone anywhere.

Could it be that jump reflects a greater mix of houses, which is where the demand has gone? I would imagine especially out of London the differential between the house and flat cost means it makes a lot more sense to buy the house (in London some areas just don't have houses full-stop).

My forward sentiment is still the regular joe forums, but there is very little bear food out there. Which kinda makes sense at the moment, interest rates have gone up but a lot of people have not been affected as they are on fix or only a small rise. Power increases have been announced but are yet to bite (I am still on the same direct debit from earlier this year). Coupled with the problem of low inventory and nothing has happened yet.

I do think a dual hit of another increase in power costs + 100bps rate rises might smoke some people out, but you will have to wait a bit longer for that.

[AlfredTheLittle]

https://www.telegraph.co.uk/property/house-prices/sellers-demand-8000-buyers-fight-property-scraps/

 

House prices still going up

[With a crooked smile]

Not blown over in Keswick yet, last two entry's on land reg went over asking. 

[Don Coglione]

11 minutes ago, With a crooked smile said:

Not blown over in Keswick yet, last two entry's on land reg went over asking. 

Fuck me. 430 grand for an extended 2-up-2-down in Cumbria?! I really had no idea. That has to be worse than the Isle of Wight, though possibly not Cornwall.

People are insane.

[With a crooked smile]

2 minutes ago, Don Coglione said:

Fuck me. 430 grand for an extended 2-up-2-down in Cumbria?! I really had no idea. That has to be worse than the Isle of Wight, though possibly not Cornwall.

People are insane.

I had a quick scan round rightmove Brighton which I always thought was really over priced not much in it maybe 10-20k more for London by Sea. 

[With a crooked smile]

10 minutes ago, Don Coglione said:

Fuck me. 430 grand for an extended 2-up-2-down in Cumbria?! I really had no idea.

I looked at another one same street about 3 weeks before this one came on the market. It wasn't extended as much so not quite as big and didn't really have a lot of opportunity to extend. Think it was on at 360/5

I offered 335 the day after it went on. Got rebuffed 'they had an offer in the region of the asking price' They kept it on another week which they often do. It's not turned up on land reg yet. I'm looking forward to seeing what it went for. 

Think it was to small for us so potentially a lucky escape. 

[Wight Flight]

7 hours ago, Don Coglione said:

Fuck me. 430 grand for an extended 2-up-2-down in Cumbria?! I really had no idea. That has to be worse than the Isle of Wight, though possibly not Cornwall.

People are insane.

Maybe not I present this...

https://www.rightmove.co.uk/properties/84023397#/?channel=RES_BUY

North facing with a cliff behind, so no sunshine.

No parking.

Yes, it is close to a rocky bay. A few minutes is pushing it. More like half a mile and it is a 1:6 hill back home. The lad uses it as a training run.

The view is the cliff at the back and a road to a sodding big wall to the front.

As they say, ideal holiday let, because you would struggle to live there.

 

 

[Yadda yadda yadda]

8 hours ago, Wight Flight said:

Maybe not I present this...

https://www.rightmove.co.uk/properties/84023397#/?channel=RES_BUY

North facing with a cliff behind, so no sunshine.

No parking.

Yes, it is close to a rocky bay. A few minutes is pushing it. More like half a mile and it is a 1:6 hill back home. The lad uses it as a training run.

The view is the cliff at the back and a road to a sodding big wall to the front.

As they say, ideal holiday let, because you would struggle to live there.

 

 

It could also be an inspirational character dwelling for individuals with a creative nature. I expect the courtyard garden is low maintenance because all you could grow is some potted hostas.

A lot of money for a gardener's cottage.

[spygirl]

On 16/01/2022 at 21:30, spunko said:

It depends what you mean by "social housing". I haven't heard a peep about the local council buying up new builds here; if you mean "affordable housing" that is in fact sold to London Boroughs before the foundations go in so that they can move their scum tenants down here, then yes. But not 50%, they target 30-40% according to government policies, but the housebuilders end up reducing that further to 10-20%.

Still, even at 10% of 5000 houses, that's 500 new homes suddenly moving into the Borough, with 2-3 scumbags inside. That's a lot of crime and 'mental health issues' added to areas that traditionally had very little of either.

 

On 18/01/2022 at 11:53, spygirl said:

Every new build estate has about ~20% f the houses, put in ~10% of space, normally by the road or the crappy end of the plot.

This is for social housing.

You can easily pick these out after a year or two - junk in the garden etc.

A couple of new estate in Scabby, built @~5 years ago, are now experiencing HTB trying to exit.

The scum housed have made the estate such a shithole that noone will buy a house.

In terms of allowing FTB build up equity, HTB has destroyed it.

 

 

 

 

 

On 18/01/2022 at 12:39, spunko said:

You don't need to wait that long. I often drive down new estates after a few months and you can easily pick out the scum social housing, the grass won't have been cut, the letterboxes are ripped off.

It is bizarre that so many people buy into this "equality for the poor" shite, when all new build social housing nowadays is tiny terraced houses, invariably badly built (even more badly built?!) and right next to the motorway, hidden away. They are like mini ghettos; depressing how little progress has been made or quite why people push for 'social housing'.

Frankly If I'm forced to have a slavebox estate built next to me, then the last thing I want is an extra 50 'social housing' properties with problem tenants inside. Is that snobby? Oh well. Heard too many horror stories of "mental health crises" i.e. psychopaths forced down here from London high on Class A running amok.

https://www.mumsnet.com/talk/am_i_being_unreasonable/4636214-to-really-regret-buying-on-a-council-estate?page=2

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Lunificent · Today 09:27

Get proactive. Follow the tips on the thread. You need a plan to leave.

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Grapefaced · Today 09:29

I had similar OP but we were only renting at the time. But due to our circumstances we had to stay longer than we wanted to. Our landlord sold the house when we moved out and I pity the poor soul who bought it.

But I will stress our issues were with the individuals and not 'council estate' as a whole. When we moved in it was a lovely street. Unfortunately, 3 elderly residents died within 18 months of each other and they moved in a load of clampits. The 'Nice kids next door' also turned into drug dealing teenagers. Whose 'clients' liked to stand outside our house.

We actually still live in the same area and our street is lovely. It was just the people in the old street who were the problem.

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Oysterbabe · Today 09:29

What is it worth and what did you pay?
I would find a way to move as soon as possible. You may as well stick it on the market and see what happens. Is your neighbours house priced reasonably?
I walk through an area on my way to work that's exactly how you describe. Fuck that.

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StridTheKiller · Today 09:31

Having been a stau ch defender of council tennant type folk, then having spent 55 years living amongst them, they are, on the whole, horrible yobs, minor drug dealing, crashing cars, no consideration, dru k at all hours,spitting and every other word is fuck, just revolting scroates who repeatedly shitnon their own doorsteps. NEVER ever again!

[spygirl]

I feel your pain @Gameofmoans81. I grew up on a council estate and it was fine. Most dads worked in typical “working men” jobs with mainly SAHMs (although not called that lol) who would pick up a few hours here and there cash in hand. Paying for nursery or childcare was an alien concept.

so there was always an adult at home, women were house proud and men were working and providing for their families. Although not well off, families were mainly very happy. Sadly unemployment through the loss of traditional industries and thatcher’s plundering of public housing stock meant that the more motivated/resilient/skilled/qualified families moved on and many council estates became like ghettos. I took my DH to visit where I grew up about 25 years after I’d left home and couldn’t believe the state of it. Really horrible to see.

agree with PPs that you need to take the hit to get out. With the shit storm we are facing it will only get worse for the disenfranchised and those without the means to move on. My dad, who started his working life down a coal mine aged 14, but was a very clever man who just never got the opportunity to gain skills, always instilled in me to buy the worst house in the best area rather than a better house in a worse area.

your House will eventually sell but you may need to accept an offer much lower than you would like. Good luck 🤞

[spygirl]

Yep we did this. Beautiful maisonette as soon as you closed the door. Our house was lovely and spacious and well built and amazing storage. But the area seriously deteriorated in the 5 years we lived there. Our downstairs neighbours; one was a lady with a partner and a 5 year old but the relationship became violent and broke down, the child was removed and she became a sex worker to fund her habit, multiple clients visited a day and she hid her crack pipe in our communal close. Our other was a lovely old lady and her son who wasn't very well mentally, she died and he deteriorated significantly and had schizophrenia and was often in crisis running up and down the close. He was very vulnerable and teenagers would use his house to sell drugs. I was terrified to stay there in the end.

One summer I decided I was done and spent about £200 making the place look perfect from the outside, replaced a heap of junk and mud with stones, pressure washed the whole area then instantly put it on the market. It took 4 months and sold at what we bought it for. Had we sold it the year later it had dropped by 25%. If you don't want to live there get it on the market, you can make a new plan or look at new builds or whatever but you can't stay there if you don't feel safe