The rise and fall of the UK property market

[Nth Kent Eagle]

Plenty of red brick terraces in St Helens for £80k. Minimum wage is the same there as in Guildford or Sevenoaks.

[andyocpfc]

Looks like a fun apartment to own in Brighton albeit ridiculously over priced for effectively a 3 bed flat. (Sorry if this is yours Monkey )

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[PalaceMonkey]

Originally Posted by jaspercpfc

what constitutes as a low offer? 5% below asking price?

it was 8.5% under asking price.

and we'd already dropped the price 3.5% from when we first put it on the market, so 12% less than what we initially wanted.


Andy, that sadly doesn't belong to me!

[red&blue_moomin]

Originally Posted by PalaceMonkey

been trying to sell house in Brighton on and off since May, but no takers.
Had a low offer last week, buyers planning on coming down from London for another viewing but got caught in train shit and couldn't make it.
They have now decided that commuting from Brighton to London is rubbish and have pulled out of purchase

Thats bad. But not suprising. My missus commutes in to London everyday and there's somedays many hours late that I get a verry verry angry person storming into the house f'in and blinding about Southern. I really really hope they lose the franchise and everyday I feel less and less sympathy for the guards (to be honest that pretty much went about six months ago).

[red&blue_moomin]

Originally Posted by OriginalNutter

Not round East Croydon there not. Just been to have a look at the Morello development on Cherry Orchard road. I was looking at a 2 bed flat. £469,000 for 781 sq ft. Balcony over looking the balcony of the property opposite, no parking space and a £2k pa service charge.

Think i'll look elsewhere..

???? You can buy a three bed house for that in East Croydon/Addiscombe or nearer to Shirley.

[Nth Kent Eagle]

I have worked with lots of people over the years who moved to Brighton and continued to commute into their old jobs in London. Always gets them down in the end.

[PalaceMonkey]

Originally Posted by Nth Kent Eagle

I have worked with lots of people over the years who moved to Brighton and continued to commute into their old jobs in London. Always gets them down in the end.

In total, I've done the London-Brighton commute for over 12 years.
It wasn't too bad when the trains were only vaguely rubbish, and I didn't have a family, but I just couldn't hack it anymore.

my new office is only 20 mins walk from home, yay

[lauren_of_hove]

I bought my flat in Leytonstone in 2012 for £245k. Today I sold it for £384k. The area is better than it was, but prices are insane.

I'm looking forward to coming back south of the river, but nervous about buying somewhere on the Southern route!

[palacea]

Originally Posted by lauren_of_hove

I bought my flat in Leytonstone in 2012 for £245k. Today I sold it for £384k.

56%. Good going in 4 years

[Yoda]

Originally Posted by OriginalNutter

Not round East Croydon there not. Just been to have a look at the Morello development on Cherry Orchard road. I was looking at a 2 bed flat. £469,000 for 781 sq ft. Balcony over looking the balcony of the property opposite, no parking space and a £2k pa service charge.

Think i'll look elsewhere..

Are they actually selling them at that price, it certainly sounds high.

As others have said, you could buy a nice semi-detached house in the Croydon suburbs for that.

Personally I prefer the burbs....nicer environment, more relaxed, gardens etc. Only advantage of living in Cherry Orchard is that it's walking distance to East Croydon station if you need to commute. But there are plenty of buses from the burbs anyway.

[adrenalin john]

Originally Posted by PalaceMonkey

been trying to sell house in Brighton on and off since May, but no takers.
Had a low offer last week, buyers planning on coming down from London for another viewing but got caught in train shit and couldn't make it.
They have now decided that commuting from Brighton to London is rubbish and have pulled out of purchase

In fairness you know that they are right. Commuting from Brighton really is shit

[palacea]

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One in four buy-to-let investors sell up due to new tax

I've already got rid of my accidental.

[Baffled Bob 2]

Originally Posted by palacea

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One in four buy-to-let investors sell up due to new tax

Isn't this good news? A glut of property on the market. House price falls.

[Nth Kent Eagle]

Someone at work visited a friend in Stockholm and said all you get is a mass of new build flats. Can't help thinking that in London, Stockholm and everywhere else all those young flat buyers or renters in the cities are going to have kids in a few years and want houses with gardens.

[palacea]

Originally Posted by Baffled Bob 2

Isn't this good news? A glut of property on the market. House price falls.

I still don't think there will be a fall in the suburbs of London.
Levelling out maybe.

Flip side is, Rents will be rising. Is that a good thing?

[scro]

Originally Posted by Nth Kent Eagle

Someone at work visited a friend in Stockholm and said all you get is a mass of new build flats. Can't help thinking that in London, Stockholm and everywhere else all those young flat buyers or renters in the cities are going to have kids in a few years and want houses with gardens.

I have never really understood the obsession with a garden in terms of kids. Unless you really have a garden of any note they are fairly limited as far the kiddywinks are concerned. I certainly don't feel like my kids are significantly disadvantaged when compared to postage stamp my old dear had when i was growing up. In fact i think my kids have far superior outside spaces to knock about in than i ever did. Perhaps i am just clinging on to that because i have no desire to leave London.

[racehorse-80s]

Originally Posted by palacea

I still don't think there will be a fall in the suburbs of London.
Levelling out maybe.

Flip side is, Rents will be rising. Is that a good thing?

There will an increase in homeless and rent defaults , If people aren't buying despite record low mortgage costs then they won't be able to pay high rents .

[Nth Kent Eagle]

Originally Posted by scro

I have never really understood the obsession with a garden in terms of kids. Unless you really have a garden of any note they are fairly limited as far the kiddywinks are concerned. I certainly don't feel like my kids are significantly disadvantaged when compared to postage stamp my old dear had when i was growing up. In fact i think my kids have far superior outside spaces to knock about in than i ever did. Perhaps i am just clinging on to that because i have no desire to leave London.

Mrs NKE was brought up in a council flat in Stockwell and she feels the opposite to you. She loves the additional space we now have. Originally when we moved to Kent she wanted to move back in to town and I didn't but as the years went by it became the other way round. Can be a problem in a semi- rural area when the kids are in their late teens though.

[Vendy]

The Flat I sold in South Norwood in 2002 for 59,950 is up for 220k Studio. I thought 59,950 was the top of the market and was desperate for cash as kid on the way. So stick 12k down and pay around 1000 a month. It was okay but tiny really. I remember the day we moved in and having bath and shock it was 50% the size of a normal one

[scro]

Originally Posted by Nth Kent Eagle

Mrs NKE was brought up in a council flat in Stockwell and she feels the opposite to you. She loves the additional space we now have. Originally when we moved to Kent she wanted to move back in to town and I didn't but as the years went by it became the other way round. Can be a problem in a semi- rural area when the kids are in their late teens though.

Don't get me wrong i always tend to positively spin my own circumstances rather than spending the whole time constantly wanting something else and not enjoying what i have. I have never lived in a place that has a significant garden so i am not well qualified to comment on that. However both my house growing up and for a period a terrace house i owned in croydon had small gardens and whilst they have their benefits (bbq, open up the back door and get some fresh air etc.) I don't really think they would have proven much use for my boys now. Who generally spend an awful lot of the time enjoying much better local facilities outside of our home than i ever did.