how much?!

[sarahbell]

https://www.rightmove.co.uk/properties/133444982#/?channel=RES_BUY

Breathtaking.

[Van Lady]

43 minutes ago, sarahbell said:

https://www.rightmove.co.uk/properties/133444982#/?channel=RES_BUY

Breathtaking.

Townhouse 

FFS!

[spunko]

In my head I keep asking myself this whenever I go on Rightmove. The asking prices are just positively mental. I am still stuck on prices around 2016-2019 and I like to think I have a good gauge on prices in my area and what will sell and what won't.

Here's an example, not too near but near enough for me to know the prices:

https://www.rightmove.co.uk/properties/135781352#/?channel=RES_BUY

This in my head should be on at about £700 - £850k.

Edited June 7, 2023 by spunko

[One percent]

47 minutes ago, sarahbell said:

https://www.rightmove.co.uk/properties/133444982#/?channel=RES_BUY

Breathtaking.

Highest achieved on the street in 165k. I’ll have some of whatever they are smoking.  

[honkydonkey]

37 minutes ago, spunko said:

In my head I keep asking myself this whenever I go on Rightmove. The asking prices are just positively mental. I am still stuck on prices around 2016-2019 and I like to think I have a good gauge on prices in my area and what will sell and what won't.

Here's an example, not too near but near enough for me to know the prices:

https://www.rightmove.co.uk/properties/135781352#/?channel=RES_BUY

This in my head should be on at about £700 - £850k.

Looks like the type of property that would be 150k in West Virginia with an additional 10 acres.

[King Penda]

40 minutes ago, spunko said:

In my head I keep asking myself this whenever I go on Rightmove. The asking prices are just positively mental. I am still stuck on prices around 2016-2019 and I like to think I have a good gauge on prices in my area and what will sell and what won't.

Here's an example, not too near but near enough for me to know the prices:

https://www.rightmove.co.uk/properties/135781352#/?channel=RES_BUY

This in my head should be on at about £700 - £850k.

I bet if I got drunk and fell onto the wall you would wake up on the other side of it.

[Petatep]

Just seen this one fairly nearby to us for £575k. 3 bed but I can't see where they could be (unless they've gone underground.

[spunko]

1 hour ago, sarahbell said:

https://www.rightmove.co.uk/properties/133444982#/?channel=RES_BUY

Breathtaking.

I also wonder if Strike have much of an input in the valuation, they will maybe be leaving it to sellers to price at what they think is 'the going rate'. After all my understanding is that Strike take a cut of the fees to list, rather than to sell, a property. So it's not really in their interests that it sells (or at least, they don't care either way, it'll bump up the statistics but that's about it).

[Boon]

https://www.rightmove.co.uk/properties/135677600#/?channel=RES_BUY

I wonder what the thought process was on this? Maybe they read a bit of mumsnet 'stick a few flowers in the bedrooms and it'll be ok'

Prices are underpinned by rental income potential rather than what the likely owner can afford.

Higher interest rates equates to a bigger discount rate now though, so prices for some things look stupid.

[One percent]

13 minutes ago, Petatep said:

Just seen this one fairly nearby to us for £575k. 3 bed but I can't see where they could be (unless they've gone underground.

  it’s in a national park, don’t you know. It’s worth squillions.  

then reality hits dream when they have to drive ten miles for a pint of milk and they try to offload to the next greater fool living the dream.  

[One percent]

6 minutes ago, Boon said:

https://www.rightmove.co.uk/properties/135677600#/?channel=RES_BUY

I wonder what the thought process was on this? Maybe they read a bit of mumsnet 'stick a few flowers in the bedrooms and it'll be ok'

Prices are underpinned by rental income potential rather than what the likely owner can afford.

Higher interest rates equates to a bigger discount rate now though, so prices for some things look stupid.

Behave, it’s edgy and enriched, should be twice the price.  

[JoeDavola]

This complete decoupling of wages and housing in parts of the UK is a kind of civilazational collapse really isn't it...."yes you can work but you flat out won't afford even a shitty council house" doesn't equal a functioning economy in my books.

£350K for what looks like a council house in Manchester. According to google average wage is £37K in Manchester.

[Sue Lowe]

 

2 hours ago, JoeDavola said:

This complete decoupling of wages and housing in parts of the UK is a kind of civilazational collapse really isn't it...

Yes.

Is it a symptom or the cause though? Probably a bit of both but utterly destructive of civilised society.

Edited June 7, 2023 by Sue Lowe

[King Penda]

33 minutes ago, Sue Lowe said:

Is it 

Yes.

Is it a symptom or the cause though? Probably a bit of both but utterly destructive of civilised society.

But it can’t and won’t last eventually the natural balance will be restored 

[Sue Lowe]

Things will change but what is the natural balance? I guess it it depends on the timeframe. What the fuck is civilised society anyway? One where you can type shit on your phone on the way back from the pub?

In the long run we’re all dead anyway.

Cheers!

[JoeDavola]

8 hours ago, King Penda said:

But it can’t and won’t last eventually the natural balance will be restored 

Lasted about 20 years so far from where I'm standing.

Not sure if any natrual balance will be restored in my lifetime, if ever.

[MrXxxx]

2 minutes ago, JoeDavola said:

Lasted about 20 years so far from where I'm standing.

Not sure if any natrual balance will be restored in my lifetime, if ever.

I think it appears that way until it doesn't...I have noted previously that although things appear 'fixed' they can then change rapidly.

[spygirl]

11 hours ago, JoeDavola said:

This complete decoupling of wages and housing in parts of the UK is a kind of civilazational collapse really isn't it...."yes you can work but you flat out won't afford even a shitty council house" doesn't equal a functioning economy in my books.

£350K for what looks like a council house in Manchester. According to google average wage is £37K in Manchester.

Its not finacially possible.

You bascially need a 10% deposit - 20% ideall to get a mortgage.

MMR wont let you speend more than ~40% of household income on the mortgage.

Typically, debt mortgage debt will cost 6%-8%

This ties in the propety prices thread and why Im so eager to see mortgage approvals and try and find how mnay peple i ncertain areas are getting mortgages esp. FTBs.

And also how mnay workign age people aer on benniies of one for or the other -they aint gettign a mortgage.

I reckon the FTBs in Scabby boroh most be almost 0.

You only have to postcode in housepries.io andf comapre it to home.co.uk to see the gap of expectations - 

I have to go page 46 of listings -

https://www.home.co.uk/search/results.htm?TOWN_SEARCH=1&location=yo11&radius=4&page=46

Before I get listing in th ball park of the actual sold prices - 

https://houseprices.io/?q=YO11

Thats not a housign market.

Its a housing delusion.

And one the mainly 60+ who make up the majotiory of local homeowners dont have the time to exit.

 

[sarahbell]

Just now, spygirl said:

Its not finacially possible.

You bascially need a 10% deposit - 20% ideall to get a mortgage.

MMR wont let you speend more than ~40% of household income on the mortgage.

Typically, debt mortgage debt will cost 6%-8%

 

Can you write an excel thing for that maths?

[JoeDavola]

2 hours ago, spygirl said:

Its not finacially possible.

You bascially need a 10% deposit - 20% ideall to get a mortgage.

MMR wont let you speend more than ~40% of household income on the mortgage.

Typically, debt mortgage debt will cost 6%-8%

This ties in the propety prices thread and why Im so eager to see mortgage approvals and try and find how mnay peple i ncertain areas are getting mortgages esp. FTBs.

And also how mnay workign age people aer on benniies of one for or the other -they aint gettign a mortgage.

I reckon the FTBs in Scabby boroh most be almost 0.

You only have to postcode in housepries.io andf comapre it to home.co.uk to see the gap of expectations - 

I have to go page 46 of listings -

https://www.home.co.uk/search/results.htm?TOWN_SEARCH=1&location=yo11&radius=4&page=46

Before I get listing in th ball park of the actual sold prices - 

https://houseprices.io/?q=YO11

Thats not a housign market.

Its a housing delusion.

And one the mainly 60+ who make up the majotiory of local homeowners dont have the time to exit.

I too would love to see the figures, i.e. how much of each transaction that is happening is funded by mortgage debt, BOMAD, etc.

Speaks volumes to me that the latest buyer for my parents house sold their 'first time buyer' house to a cash buyer. And that was a house 5 times the average salary (a rather shitty rip off IMO but I've seen worse) that was bought for cash which would indicate the mortgage-funded buyers are thin on the ground even at that level.

[BoSon]

8 minutes ago, JoeDavola said:

I too would love to see the figures, i.e. how much of each transaction that is happening is funded by mortgage debt, BOMAD, etc.

Speaks volumes to me that the latest buyer for my parents house sold their 'first time buyer' house to a cash buyer. And that was a house 5 times the average salary (a rather shitty rip off IMO but I've seen worse) that was bought for cash which would indicate the mortgage-funded buyers are thin on the ground even at that level.

Depends on the buyer.

My parents were offered cash for their home up north, by a paki with a carrier bag full of notes. Benefit of the doubt is they pool the money, at the other end of the possibilities it's from dodgy dealings like drugs.

Presume these days the due diligence against money laundering by the solicitor means cash has to be accounted for with proof of it being taken out of the regulated financial system. Though if there's enough demand in an area for untraceable cash transactions there will be dodgy solicitors willing to turn a blind eye and sign off 'all good'.

I paid cash when helping my parents buy their bungalow, from my savings account so no problem during the paperwork. They'd also given me the proceeds from their house sale up north to keep safe as they had some credit card debt, so it all came out of my account and the property is in my name to avoid any issues down the line. Their credit cards ended up mostly being paid off by the PPI claims.

[spygirl]

26 minutes ago, JoeDavola said:

I too would love to see the figures, i.e. how much of each transaction that is happening is funded by mortgage debt, BOMAD, etc.

Speaks volumes to me that the latest buyer for my parents house sold their 'first time buyer' house to a cash buyer. And that was a house 5 times the average salary (a rather shitty rip off IMO but I've seen worse) that was bought for cash which would indicate the mortgage-funded buyers are thin on the ground even at that level.

Well thats what they all say - We are a cash buyer.

Then you find out they have a different concept of 'cash'

Proper, cash i nthe bank buyers are very few n far between.

The constant comment I hear from local is - X is tryign to selltheir house ...

Locl transaction have been o nthe floor since 2007.

Its onyl IO BTL fuckwits, now go-ne, and he odd holiday house idiot that are providing any form of liquidity.

Both will evaporate with higher IRs.

 

 

[Animal Spirits]

On 07/06/2023 at 19:10, sarahbell said:

https://www.rightmove.co.uk/properties/133444982#/?channel=RES_BUY

Breathtaking.

The first entry was £450k 10/04/23!

Edited June 8, 2023 by Animal Spirits