Property crash, just maybe it really is different this time (Part 3)

[Chewing Grass]

34 minutes ago, MrXxxx said:

I think some may enjoy this 'tirade' by Sasha Yanshin on 'Houses as an investment':

 

Most interesting snippet (a graph) from that.

[One percent]

5 minutes ago, Bobthebuilder said:

2nd home, maybe with a mate as a lodger.

2 bedroom apartment for sale in Salisbury Street, Blandford Forum, Dorset, DT11 (rightmove.co.uk)

 

It’s a bit dated and I bet the soundproofing is nonexistent, but it could be very nice 

[JoeDavola]

31 minutes ago, Bobthebuilder said:

2nd home, maybe with a mate as a lodger.

2 bedroom apartment for sale in Salisbury Street, Blandford Forum, Dorset, DT11 (rightmove.co.uk)

I like that.

[spygirl]

2 hours ago, onlyme said:

 

When you consider that most of the England sales are skewed to  shite htb new built flats in London/SE you start to realise how fucked property is, esp as the last 25y has been a big IO/renting no equity-fest.

[spygirl]

57 minutes ago, One percent said:

That’s scabby prices

https://www.rightmove.co.uk/properties/136565120#/?channel=RES_BUY

Fuckwits have turned a meh 70s house into a fucking apartments ffs.

That's a lovely road and great position.

 

[One percent]

2 minutes ago, spygirl said:

Fuckwits have turned a meh 70s house into a fucking apartments ffs.

That's a lovely road and great position.

 

I think that’s purpose built 

[spygirl]

54 minutes ago, Bobthebuilder said:

2nd home, maybe with a mate as a lodger.

2 bedroom apartment for sale in Salisbury Street, Blandford Forum, Dorset, DT11 (rightmove.co.uk)

 

I used to go out with a girl from Blandford.

Went their a few times.

That end of Dorset is hmmmm.

We used to meet up with my brother when he was back from here n there. Constant hillbillies try to pick fights with us.

Her mum n dad moved to Bere Reguis, which I liked.

[Bobthebuilder]

2 minutes ago, spygirl said:

I used to go out with a girl from Blandford.

Went their a few times.

That end of Dorset is hmmmm.

We used to meet up with my brother when he was back from here n there. Constant hillbillies try to pick fights with us.

Her mum n dad moved to Bere Reguis, which I liked.

Yes it is like that, I grew up there so all the nutters are probably my mates.

[spygirl]

3 minutes ago, Bobthebuilder said:

Yes it is like that, I grew up there so all the nutters are probably my mates.

Now I like Sherbourn.

It's one of the rare places not in the North andor by the sea that I've thought - I could retire here.

All my brothers 'security' minded mates seem to end up around there. Real DunSpying place.

[Bear Hug]

2 hours ago, Bobthebuilder said:

2nd home, maybe with a mate as a lodger.

2 bedroom apartment for sale in Salisbury Street, Blandford Forum, Dorset, DT11 (rightmove.co.uk)

 

Next to a pub. Electric heating. Can't work out if top floor. Could end up hot in summer cold in winter. 

[Bobthebuilder]

10 minutes ago, Bear Hug said:

Next to a pub. Electric heating. Can't work out if top floor. Could end up hot in summer cold in winter. 

What's not to like? Every time I am in the town I am usually in that pub, so it would be ideal. No gas is a bit shit, I would take their arm off at £130K.

[spunko]

https://www.rightmove.co.uk/properties/144680120#/?channel=RES_BUY

Omg u can keep ur poxy old flats wiv loads of character,  my house renovation is finally done n its just the way we wanted it dont be jell xxx 

[leonardratso]

27 minutes ago, spunko said:

https://www.rightmove.co.uk/properties/144680120#/?channel=RES_BUY

Omg u can keep ur poxy old flats wiv loads of character,  my house renovation is finally done n its just the way we wanted it dont be jell xxx 

hehehe

Contemporary Elegance with Blissful Views - Kits Coty

 

[AWW]

Typical asking price action on decent family homes in a nice bit of north London... one 10% off, one 15, one 20.

You can see someone fancied catching the knife on one of these, but it fell through.

My bid is at least another 20% down from here.  Nobody at the school gate is talking about property except to say that their mortgage is going up by some non-trivial amount, so I can see 40% nominal on this sort of thing by the end of the year, though it will obviously have taken longer than 12 months to get there.

[onlyme]

11 hours ago, spygirl said:

Now I like Sherbourn.

It's one of the rare places not in the North andor by the sea that I've thought - I could retire here.

All my brothers 'security' minded mates seem to end up around there. Real DunSpying place.

Salisbury OK to for a decent sized town, the hospital there are seems to be run pretty well too if that is a mjor consideration.

[HousePriceMania]

13 hours ago, JoeDavola said:

Either way I don't see evidence of falls in any transaction I've heard of.

 

But there is evidence of falls, straight from the BBC.

That affects sentiment.

Your limited experience doesn't constitute what is going on a in a market as a whole.

I have evidence of houses round me selling, most of them sat SSTC for 6 months now but the asking prices are falling from the property lion data.

What to believe ?

 

[JoeDavola]

Worth a watch:

 

[JoeDavola]

25 minutes ago, HousePriceMania said:

But there is evidence of falls, straight from the BBC.

That affects sentiment.

Your limited experience doesn't constitute what is going on a in a market as a whole.

I have evidence of houses round me selling, most of them sat SSTC for 6 months now but the asking prices are falling from the property lion data.

What to believe ?

I think with all due respect you are coping and in denial. I’m hearing from plenty of people trying to modest family homes and prices are not dropping.

And as for sentiment, here’s what was staring back at me from Facebook today:

[CVG]

39 minutes ago, JoeDavola said:

Worth a watch:

 

He popped up the other day. Good points - annoying little twat.

[sancho panza]

10 hours ago, spunko said:

https://www.rightmove.co.uk/properties/144680120#/?channel=RES_BUY

Omg u can keep ur poxy old flats wiv loads of character,  my house renovation is finally done n its just the way we wanted it dont be jell xxx 

With the elevation you might well have a nice view of the M2/A229

in otehr news

via Henry Pryor twitter feed

£2mn in the bank and kids sqawking for more.........

 

https://www.telegraph.co.uk/money/property/buying-selling/money-makeover-bought-flats-kew-boys-want-to-live-hackney/

‘We bought two flats in Kew but our boys want to live in Hackney – what do we do?’

Money Makeover: our reader wants to leverage their buy-to-lets for the whole family’s benefit

Lee Shortt thought she and her husband were doing the right thing when they bought two flats five years ago near the family home in Kew for their sons.

But now, times have changed and the two boys are keen to put down roots in Hackney – one of London’s most sought-after boroughs.

Ms Shortt – who is now nearing retirement – had viewed the two buy-to-let properties as family investments. Together, they cost £900,000 and there is still a £500,000 debt on them.

Neither are turning much of a profit, with one seeing its monthly mortgage cost shoot up from £500 to £1,400 last year.

The mother-of-two recently sold the family home and is renting in the Thames-side village of Barnes with her husband. They have around £2m in a National Savings account earning 3.6pc in interest.

 

 

Their sons, aged 27 and 31, are yet to get on the property ladder. Both are single, and so Ms Shortt is wary they will need big deposits in order to buy.

She wants to help them, but she also wants to know whether she and her husband can eventually retire. The two don’t have huge pensions, having cashed in over the years to pay school fees.

While there are no immediate plans to retire – Ms Shortt describes herself as a “workaholic” and her husband still works six days a week – they are keen to settle down somewhere in the short term and stop renting.

She said: “Lots of our sons’ friends still live at home. I was married at 26, I was gone – and I never thought I wouldn’t be able to buy.

“One of our sons is on £50,000, but he still can’t afford to buy on his own. Neither of them want to live in Kew, where the buy-to-lets are, they want to live in Dalston. Hackney was a war zone in my day.

“So we’re stuck with these two buy-to-lets. We don’t know what to do with them.

 

 

“We’ve let them for the past five years. We could pay off the buy-to-let mortgages, but this does eat into our capital. We could, alternatively, keep one flat and then have a second home outside of London.”

Edited February 15 by sancho panza

[HousePriceMania]

59 minutes ago, JoeDavola said:

I think with all due respect you are coping and in denial. I’m hearing from plenty of people trying to modest family homes and prices are not dropping.

And as for sentiment, here’s what was staring back at me from Facebook today:

 I dont live in Belfast, I have nothing to cope with and deny, prices round here are falling and I personally know 2 couples who can't sell their house and have had zero viewings in 6+ months.

"I’m hearing from plenty of people trying to modest family homes and prices are not dropping." 

How are you hearing this ?  Are you going around asking people ? Is in through your job ?

You've been ranting on here for months and months about prices going up, so much so people start thinking you a re a troll ( there words not mine ) then I post a good news story from the BBC and you have a dig at me.

I don't think you are a troll by the way bit I am starting to think you're sounding a bit lost, possible you have mental health issues.  Go and buy a house and put yourself out of this misery, prices will clearly just keep going up one way our another.  You can't lose on northern Ireland property.

P.S. with all due respect.

Edited February 15 by HousePriceMania

[dnb24]

1 hour ago, HousePriceMania said:

But there is evidence of falls, straight from the BBC.

That affects sentiment.

Your limited experience doesn't constitute what is going on a in a market as a whole.

I have evidence of houses round me selling, most of them sat SSTC for 6 months now but the asking prices are falling from the property lion data.

What to believe ?

 

Midlands here- houses are on/off/on/off market as chains collapse, I think there are some good buys out there- lots of properties offered as “no chain” at the moment, the market is definitely very different to this time last year - and we’ve just fallen into recession- can’t imagine things will get a lot better any time soon

Edited February 15 by dnb24

[CVG]

I didn't realise that there are some tools for you to analyse the ONS index in your own different ways.

https://landregistry.data.gov.uk/app/ukhpi/browse?from=2000-01-01&location=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Fengland&to=2024-01-01&lang=en

Here, it's interesting to see that the index on new builds has raced up at the same time as volume of sales has fallen.

[HousePriceMania]

19 minutes ago, dnb24 said:

Midlands here- houses are on/off/on/off market as chains collapse, I think there are some good buys out there- lots of properties offered as “no chain” at the moment, the market is definitely very different to this time last year - and we’ve just fallen into recession- can’t imagine things will get a lot better any time soon

Exactly what I am seeing.  There is no one housing market.  Northern Ireland pre-2007 went through the roof and people then couldn't see it ending, look what happened next.

We withdraw an offer on a house last year for a few reasons, probate sale and that was after getting 30% off the 2022 asking price.  It's sold now. 100% definitely sold for less than we offered.

We can now buy a 50% larger house for the same money, the money that's getting 6% interest in the bank.

The crash has happened for us. My children move school this year so we are waiting to see what skool they get into and then we'll more than happily buy somewhere safe in the knowledge that we didn't commit financial suicide in 2022.

it now looks like interest rates wont come down, we have a recession and I personally know someone who has been out of work 6 months now and their mortgage is up for renewal.  I've said they should sell and down size but they are certain they'll get a job...soon...

Edited February 15 by HousePriceMania

[HousePriceMania]

Here's a crappy slave unit in Northampton, been up for sale since 2021
 

Finally accepting reality.  That's a bargain compared to some of the crap holes being listed for sale at 2022 prices, but this is the reality. Crazy asking price, no sale.