KIRK AND CO Posted July 2, 2014 Share Posted July 2, 2014 Daily mail reports house prices have now gone past 2007 peak (Daily mail i know it a comic) but the 2 flats I brought had valued and one has gone from £148,000 to £190,000 2 bed, The other 1 bed £120 to £145.00. The estate agent said the market has gone mad and these rises have only happened over the last 15 months. Can it be sustainable ??. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted July 2, 2014 Share Posted July 2, 2014 Who's buying Kirk? All I read in the press is people can't afford to get on the housing market, salaries stagnating, zero hour contracts, which presumably means you would struggle to get a mortgage? Is it overseas buyers having an influence? Quote Link to comment Share on other sites More sharing options...
Guest Outoftheblue Posted July 2, 2014 Share Posted July 2, 2014 Well it'd be nice if it stayed like that or continued to rise but I think being realistic it can just as likely drop in the next 18 months. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted July 2, 2014 Share Posted July 2, 2014 Well it'd be nice if it stayed like that or continued to rise but I think being realistic it can just as likely drop in the next 18 months. Makes you wonder if people learned anything from the GFC. :wacko: Quote Link to comment Share on other sites More sharing options...
Guest Outoftheblue Posted July 2, 2014 Share Posted July 2, 2014 Makes you wonder if people learned anything from the GFC. :wacko: I'd like to think I'm a glass half full person and wine can always be added but when it comes to things like this. History has proven you can't afford to sit back and think it's all ok now! Until I go back to paying £25 to fill my tank, and people stop sitting on their backsides thinking their owed handouts I shall remain positively sceptical LOL about it Quote Link to comment Share on other sites More sharing options...
Guest Posted July 2, 2014 Share Posted July 2, 2014 Where are your properties Kirk & Co? I don't see that picture where we are in the Central Belt of Scotland. We bought a 3-bed house in 2008 for £138k and we going by neighbouring properties we couldn't sell it for that. We sold our family home in 2008 for £235k and have just bought an almost identical property for £192k. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted July 2, 2014 Share Posted July 2, 2014 Where are your properties Kirk & Co? I don't see that picture where we are in the Central Belt of Scotland. We bought a 3-bed house in 2008 for £138k and we going by neighbouring properties we couldn't sell it for that. We sold our family home in 2008 for £235k and have just bought an almost identical property for £192k. London bares no resemblance to the rest of the nation LadyR. They live in a little bubble down there. Quote Link to comment Share on other sites More sharing options...
KIRK AND CO Posted July 2, 2014 Author Share Posted July 2, 2014 Where are your properties Kirk & Co? I don't see that picture where we are in the Central Belt of Scotland. We bought a 3-bed house in 2008 for £138k and we going by neighbouring properties we couldn't sell it for that. We sold our family home in 2008 for £235k and have just bought an almost identical property for £192k. South uk Newbury Berks. I had sold the £145,00 flat for full asking price took 3 days online no pics. They were about to go in & take pics but a cash buyer stepped in. After that my son & girlfriend decided they wanted it so we pulled out, it was the main reason we brought in first place to help them to get a foot on the ladder so there gain and they are not in the renting game. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted July 2, 2014 Share Posted July 2, 2014 Our house that we sold in 2009 to come to Australia is up for sale again for the exact same price we sold it for. Two years previous to that it was worth 25% more. Quote Link to comment Share on other sites More sharing options...
In5yearstime Posted July 2, 2014 Share Posted July 2, 2014 We are in the South, Hampshire and property prices have rocketed- not great for us as first time buyers that have had bad luck on two seperate properties over the last 12 months (yes 12 months we have been trying to get on the ladder with cash in the bank!). I've seen 3 bedroom semi detached in decent areas rise from approx 230k-245k to 265-280! We ended up having to move out of the area we originally could afford to buy in but as the house fell through (not due to us) we were then priced out! we are struggling with the decision on whether to keep trying- currently stuck in a chain since February and since then have decided to save and try for a PR visa. We have rented privately for 10 years and whilst we are not planning to make the move in the next 2 years we have been of the mindset that paying towards a mortgage over 2 years would be better then continuing to spend money on another persons mortgage while our money sits in the bank with a rubbish interest rate return... We know there is a aways a risk in this but at the same time if Australia doesn't work out for us we haven't priced ourselves completely out of the UK housing market and missed our opportunity! Quote Link to comment Share on other sites More sharing options...
Guest Posted July 2, 2014 Share Posted July 2, 2014 We've been looking on and of for the last 18 mths mainly over the net to be fair. Looking in the north and can't say we've notice much of a difference in prices. A few we have been keeping an eye on for a good while that haven't sold. Planning a trip over to look properly soon hopefully we'll be able to buy something. Looking to rent it out for a year or so until we make the move back to England. That's the plan if we can get the finances sorted. Quote Link to comment Share on other sites More sharing options...
Jessica Berry Posted July 2, 2014 Share Posted July 2, 2014 I sold up in 2007 and could go back now and buy the same property for a third less than I sold it for! I think it does depend on the area though, as a relative has a flat in London that has made a lot of money in 3 years, but then the houses are crazy prices in London. Quote Link to comment Share on other sites More sharing options...
wolvesaussie Posted July 2, 2014 Share Posted July 2, 2014 Yeah must be area, mine is worth the same as it was when I purchased in 2007 (though have spend £10,000 on it) Quote Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted July 3, 2014 Share Posted July 3, 2014 Interesting thread as I'm currently trying to sell my house (near Manchester) and whilst lower end mid terrace type properties are being snapped up at under £70k, nothing else is really moving. Now, I wish we had stayed in our terraced house from years ago as the average wage up here wouldn't allow for a FTB to buy my house unless they had saved up £££££'s in deposit. So meanwhile, I'm still stuck with my house. @Chicken66, you interested in it by any chance? PM if you are :smile: Quote Link to comment Share on other sites More sharing options...
emj1986 Posted July 3, 2014 Share Posted July 3, 2014 I think London's figures are skewing the national average, speaking from experience. Has taken us 8 months and a £15k price drop to finally sell our 2 bed detached with 1/2 acre in the Forest of Dean - certainly wouldn't say there was a housing bubble fit for bursting here. Nothing is moving. Very regional. Quote Link to comment Share on other sites More sharing options...
Slean Wolfhead Posted July 3, 2014 Share Posted July 3, 2014 Our house that we sold in 2009 to come to Australia is up for sale again for the exact same price we sold it for. Two years previous to that it was worth 25% more. I think that's what everything north of Watford is like, but the media (and overseas media) just translate London to meaning the UK. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 3, 2014 Share Posted July 3, 2014 Very much a South, in particular London focused thing. Sadly that city is beyond most local folk which has undermined a once great city. A tax needs to be imposed on foreign investors in order to regain some sanity in that particular market. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted July 4, 2014 Share Posted July 4, 2014 Interesting thread as I'm currently trying to sell my house (near Manchester) and whilst lower end mid terrace type properties are being snapped up at under £70k, nothing else is really moving. Now, I wish we had stayed in our terraced house from years ago as the average wage up here wouldn't allow for a FTB to buy my house unless they had saved up £££££'s in deposit. So meanwhile, I'm still stuck with my house. @Chicken66, you interested in it by any chance? PM if you are :smile: We had a bit of trouble selling our house privately in 92. It was an end terrace with a small garage, built in 1897. We had bought it 4 years before for 22,000 pounds. We spent heaps on it over the next few years and did everything we could to the inside. New kitchen, bathroom, wiring, plastered and wallpapered every room. Had it valued at 52,000 pounds and put it up for sale for 50,000. First day we put the sign in the window we had 2 couples who lived close come round and they both said they'd have it. Both couples were newly married, no kids and both working. Neither of them could get a mortgage for the asking price. We ended up selling it a couple of weeks later for the asking price, to a single girl who's Dad was a bank manager. Quote Link to comment Share on other sites More sharing options...
Guest Posted July 4, 2014 Share Posted July 4, 2014 I think that's what everything north of Watford is like, but the media (and overseas media) just translate London to meaning the UK. To be fair I didn't read the article, I was sticky beaking on the train, but I saw a newspaper headline of 'House prices up 14%' and a map of the UK with arrows for where prices were going up and down....there were far more down arrows. If Scotland does vote for independence, a lot of the responsibility will lie with the London-based media that does not see life outside it's own privileged bubble. And a lot of the North of England will wish the border could move. Not that I think house prices going up rapidly is a good thing - I feel incredibly sorry for those with negative equity (I was in the position myself having been a first time buyer before the 1990's recession and lost £12k) or who need to sell and can't but otherwise the house you live in should be seen as your home not a financial investment - if yours goes up in value so does everyone else's so unless you no longer need a home it is meaningless. Quote Link to comment Share on other sites More sharing options...
Guest Posted July 4, 2014 Share Posted July 4, 2014 Interesting thread as I'm currently trying to sell my house (near Manchester) and whilst lower end mid terrace type properties are being snapped up at under £70k, nothing else is really moving. Now, I wish we had stayed in our terraced house from years ago as the average wage up here wouldn't allow for a FTB to buy my house unless they had saved up £££££'s in deposit. So meanwhile, I'm still stuck with my house. @Chicken66, you interested in it by any chance? PM if you are :smile:Not quite the area we are looking i'm afraid but thanks for the offer. Quote Link to comment Share on other sites More sharing options...
Thom Posted July 8, 2014 Share Posted July 8, 2014 Bought my place, in Cornwall, in 2000 for 52k, kept it on and rented it out while I've been out here in Aus. The house next-door, (identical, mirror image,) is on the market for 235k. Nice . Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted July 16, 2014 Share Posted July 16, 2014 Brighton and Lewes, East Sussex seem to have spiraled out of control - 4 bed terraces 650-700K. Read somewhere that over 50% of houses being sold to ex Londoners - only ones that can afford these prices. Locals just have to whistle. Very little on market in Lewes apart from some old favourites which are hugely overpriced. So disappointing. Even though I own a house just outside Lewes, I wish controls could be imposed to temper ridiculous rises, which benefit very few apart from greedy speculators. Quote Link to comment Share on other sites More sharing options...
Nikey Posted July 16, 2014 Share Posted July 16, 2014 Yup....Sussex coast has rocketed. My terrace has been worth the 210 mark for years with a dip to 190. Last 3/4 months they are goung for over 250 but......my friends who are trying to move say last 6 weeks it has totally slowed as banks have tightened up again. @Paul1Perth I dont think people have learnt any lessons at all...I think they will just borrow if they can! Quote Link to comment Share on other sites More sharing options...
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