harold bishop Posted May 27, 2011 Report Share Posted May 27, 2011 + 0.98% i think. Well, that'll cheer up some folk. I'll wait for the land reg figures. Link to comment Share on other sites More sharing options...
drbubb Posted May 27, 2011 Report Share Posted May 27, 2011 + 0.98% i think. NSA: Headlines May 11 Apr 11 Monthly Index* 330.4 329.5 Monthly Change* 0.3% -0.2% Annual Change -1.2% -1.3% Average Price £167,208 £165,609 Link to comment Share on other sites More sharing options...
neil324 Posted May 27, 2011 Report Share Posted May 27, 2011 NSA: Headlines May 11 Apr 11 Monthly Index* 330.4 329.5 Monthly Change* 0.3% -0.2% Annual Change -1.2% -1.3% Average Price £167,208 £165,609 My mistake, been reading HPC pulling their hair out. Land reg & Halifax next week should be interesting. Link to comment Share on other sites More sharing options...
wee Jinky Posted May 30, 2011 Report Share Posted May 30, 2011 http://thescotsman.scotsman.com/scotland/Millions-trapped-by-property-slump.6776563.jp reality beginning to hit home ? sounds like it from the comments Link to comment Share on other sites More sharing options...
John Doe Posted May 30, 2011 Report Share Posted May 30, 2011 http://thescotsman.scotsman.com/scotland/Millions-trapped-by-property-slump.6776563.jp reality beginning to hit home ? sounds like it from the comments Not sure, according to Lloyds (Scotland)who last week reported transactions up here are back to pre crash levels. Seen lots go under offer around by us over the last month or two (after a real stagnant period), with 2 new ones going SSCM within 3 weeks of the signs going up (prices about the same as this time last year, after a 6 month bounce, then a 6 month drop back). However, prices definitely down in the "less nice, but not really horrible" areas. Link to comment Share on other sites More sharing options...
BoldAsBrass Posted May 30, 2011 Report Share Posted May 30, 2011 My youngest son has a new girlfriend - I was chatting to her parents the other day - and, as it does, the subject of houses and house prices came up (I think I might have started it asking them how long they have lived there - just making conversation) and for some reason they volunteered the fact they have a 315k mortgage! Now, they are in their early 40s whereas I will be 60 next year ... but a 315k mortgage - at historically low interest rates - in a pretty stagnant economy ... wow, I wouldn't be able to sleep at night. I said something like 'wow, that's a big mortgage' and they sort of collectively shrugged their shoulders and said they were desperate to bring their kids up in a nice area. I mention this as an aside ... it seems an awful lot of people have mega mortgages and the much trumpeted rises in interest rates really will hurt a lot of people - and leave them with even less disposable income - or on the street. And the people who got us into this mess got off scott free. Link to comment Share on other sites More sharing options...
neil324 Posted May 30, 2011 Report Share Posted May 30, 2011 My youngest son has a new girlfriend - I was chatting to her parents the other day - and, as it does, the subject of houses and house prices came up (I think I might have started it asking them how long they have lived there - just making conversation) and for some reason they volunteered the fact they have a 315k mortgage! Now, they are in their early 40s whereas I will be 60 next year ... but a 315k mortgage - at historically low interest rates - in a pretty stagnant economy ... wow, I wouldn't be able to sleep at night. I said something like 'wow, that's a big mortgage' and they sort of collectively shrugged their shoulders and said they were desperate to bring their kids up in a nice area. I mention this as an aside ... it seems an awful lot of people have mega mortgages and the much trumpeted rises in interest rates really will hurt a lot of people - and leave them with even less disposable income - or on the street. And the people who got us into this mess got off scott free. Give him a copy of this, http://www.tullettprebon.com/announcements/strategyinsights/notes/2010/SIN20110526.pdf Link to comment Share on other sites More sharing options...
happylarry Posted May 30, 2011 Report Share Posted May 30, 2011 Now here's a cracking one to read in the newspaper on a bank holiday: http://www.newsletter.co.uk/news/local/house_prices_halved_since_peak_1_2726833 Link to comment Share on other sites More sharing options...
Erewhon888 Posted May 30, 2011 Report Share Posted May 30, 2011 Quarterly House Price Index Link to comment Share on other sites More sharing options...
drbubb Posted May 30, 2011 Report Share Posted May 30, 2011 http://thescotsman.scotsman.com/scotland/Millions-trapped-by-property-slump.6776563.jp reality beginning to hit home ? sounds like it from the comments Here's what the article said: "The study reveals 53 per cent of homeowners aged 18-34 would like to buy a new home within the next two years but 44 per cent think it is unrealistic that they will be able to do so because of the low value of their property, the difficulty in finding a mortgage and a lack of suitable properties for sale." WHY DO they have such difficulty writing the truth: ??? MOST PEOPLE THINK property is very overpriced, and does not represent good value. That is THE TRUTH, I think. Here's what I responded in to an email from an agent from HK trying to get me interested in a London property called the Tower: "I am in London now. My friends here think that the flats are expensive, and the layouts not optimal." And in response to an email on another property in Manor House, by Berkeley Homes: "The property and its immediate environment are quite beautiful. It is a pity about the greater area in which it is based. It will take many years to improve it enough for me to consider living there." Let's get the TRUTH out. http://www.youtube.com/watch?v=dlzrNKN3rZI Speaking the truth in a respectful and polite way might actually make some difference - if enough people do it ! Link to comment Share on other sites More sharing options...
drbubb Posted May 30, 2011 Report Share Posted May 30, 2011 Give him a copy of this, http://www.tullettprebon.com/announcements/strategyinsights/notes/2010/SIN20110526.pdf EXCELLENT TRUTH TELLING ! The UK's Debt-fueled bubble is about to come to an end. And it is best to get out of the way, and move wealth away from sectors like property that are going to be hit as borrowing implodes. Let people know. The developers should suck up the mess that they have helped create and prolong, rather than being allowed to pass the hot potatoes on to others Here's what happens when Bubbles pop: "Tom McClelland, of the Royal Institute of Chartered Surveyors, told the News Letter that taking an average of the findings in the three main surveys would roughly tally with his own assessment. In some areas, he added, prices had dropped by more than half. “Some recent repossession sales are showing price decreases of over 60 per cent and are back at levels where first time buyers can comfortably afford to enter the market,” Mr McClelland said. “But the average drop across Northern Ireland is probably in and around 50 per cent down from the 2007 peak." Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 30, 2011 Author Report Share Posted May 30, 2011 ...“But the average drop across Northern Ireland is probably in and around 50 per cent down from the 2007 peak."[/i] Very nice indeed. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 30, 2011 Author Report Share Posted May 30, 2011 So house prices in NI have gone down 50% since 2007, and during the same time gold has more or less tripled. So, house prices in Northern Ireland are down something like 83% when measured in gold ounces. Beautiful crash (10/10)! Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 30, 2011 Author Report Share Posted May 30, 2011 http://thescotsman.scotsman.com/scotland/Millions-trapped-by-property-slump.6776563.jp reality beginning to hit home ? sounds like it from the comments From "ladder" to "swamp". That word "ladder" has always made me barf. The study reveals 53 per cent of homeowners aged 18-34 would like to buy a new home within the next two years but 44 per cent think it is unrealistic that they will be able to do so because of the low value of their property, the difficulty in finding a mortgage and a lack of suitable properties for sale. As a result of buying during the property bubble, an estimated two million homeowners across the UK are "trapped" and have no chance of trading up. Link to comment Share on other sites More sharing options...
DoctorSolar Posted May 30, 2011 Report Share Posted May 30, 2011 From "ladder" to "swamp". That word "ladder" has always made me barf. I wonder how sales are going at the quarter mile development in Edinburgh? I see they are still asking for £400k for a two bed flat! And only require a 5% deposit! LUXURY LIVING JUST A 5% DEPOSIT AWAY http://www.qmile.com/ Link to comment Share on other sites More sharing options...
John Doe Posted May 30, 2011 Report Share Posted May 30, 2011 Very nice indeed. Well, not bad, but still only back to 2004 prices. But, let's not forget, N.Ireland HPI was way way bigger than UK average, as have been the falls since. The higher the rise, the bigger the falls. Link to comment Share on other sites More sharing options...
happylarry Posted May 30, 2011 Report Share Posted May 30, 2011 Well, not bad, but still only back to 2004 prices. But, let's not forget, N.Ireland HPI was way way bigger than UK average, as have been the falls since. The higher the rise, the bigger the falls. That it did, maybe with the current momentum things might swing further than they should. Just wish the decent detached house sellers would realise the floor has completely gone, where they can they are still holding out for their imaginary half million they had "made", hopefully with stats like this in the media they might manage a 50% sum in their heads. How things change, remember a work dinner back in 07 when a co workers wife gleefully spouted "Soon Belfast houses will be worth more than London houses!" in all seriousness. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 30, 2011 Author Report Share Posted May 30, 2011 Bruahaha, the Quartermile. Still one of my favourites. These two bed flats went for GBP 450,000 when the going was good, and rented for GBP 1,400 a month. After maintenance, not exactly a great investment. But, gee, there would be capital appreciation, right? I had the pleasure to spend an evening in one of them. As an unsuspecting European, I would be running if someone tried to sell them to me for "luxury". In fact, they are the typical UK card board box crap with thin drywalls, crappy doors, and laminate that is called "wood" for some reason I don't know. Then you have no balcony, and at night the outside is so loud (bl00dy drunk students) you can't even leave the windows open... I wonder how sales are going at the quarter mile development in Edinburgh? I see they are still asking for £400k for a two bed flat! And only require a 5% deposit! http://www.qmile.com/ Link to comment Share on other sites More sharing options...
wee Jinky Posted May 30, 2011 Report Share Posted May 30, 2011 House prices to soar by 16% Long awaited boost for homeowners as the market recovers front page in tomorrows The (yup you guessed it) Daily Express the sad thing is some delusional halfwits out there will believe it A generation of young adults is close to giving up hope of ever being able to afford to own their own homes, says The Independent. All the CEOs and bankers must be about to spunk their bonus' on good old btl again Link to comment Share on other sites More sharing options...
borassic Posted May 31, 2011 Report Share Posted May 31, 2011 Bruahaha, the Quartermile. Still one of my favourites. These two bed flats went for GBP 450,000 when the going was good, and rented for GBP 1,400 a month. After maintenance, not exactly a great investment. But, gee, there would be capital appreciation, right? I had the pleasure to spend an evening in one of them. As an unsuspecting European, I would be running if someone tried to sell them to me for "luxury". In fact, they are the typical UK card board box crap with thin drywalls, crappy doors, and laminate that is called "wood" for some reason I don't know. Then you have no balcony, and at night the outside is so loud (bl00dy drunk students) you can't even leave the windows open... I think Merryn Somerset Webb said that Edinburgh could rival London for financial sercvices? But now they have a loony left (ghastly Salmond) government I don't think that's going to happen. It's a cold east-facing place, and unihabitbale during August. My ex LA flat has balconies, use of an alottment, car parking and shed. 60 mins to Bond St. 2 mins to tube, Waitrose and has two street markets per week. Nice neighbours too. Link to comment Share on other sites More sharing options...
John Doe Posted May 31, 2011 Report Share Posted May 31, 2011 House prices to soar by 16% Long awaited boost for homeowners as the market recovers front page in tomorrows The (yup you guessed it) Daily Express the sad thing is some delusional halfwits out there will believe it And quite a few investors it seems BDEV up 2.5% at 115.6 Link to comment Share on other sites More sharing options...
John Doe Posted May 31, 2011 Report Share Posted May 31, 2011 Well, that'll cheer up some folk. I'll wait for the land reg figures. Land Reg Prices up 0.8% MOM, down 1.3% YOY http://uk.finance.yahoo.com/news/House-prices-show-first-rise-reuters_molt-675670402.html?x=0 Link to comment Share on other sites More sharing options...
wee Jinky Posted May 31, 2011 Report Share Posted May 31, 2011 I'm beginning to think this crash will never happen but then again I'm beginning to doubt I'll ever return to the UK anyway EA prices kept artificially high while repos are snapped up cheap by the elite for their btl portfolio to screw the peasants with high rents Anyone been to the Azores ? looks like my kinda place isolated ,good climate ,reasonable house prices, agrarian society,low crime Link to comment Share on other sites More sharing options...
marceau Posted May 31, 2011 Report Share Posted May 31, 2011 I'm beginning to think this crash will never happen but then again I'm beginning to doubt I'll ever return to the UK anyway EA prices kept artificially high while repos are snapped up cheap by the elite for their btl portfolio to screw the peasants with high rents Anyone been to the Azores ? looks like my kinda place isolated ,good climate ,reasonable house prices, agrarian society,low crime Yeah I've spent a bit of time there. Lovely place, relaxed way of life, cows in people's back gardens. But you have to accept the fact that you're literally in the middle of nowhere and, more importantly, each island is headed up by a small elite of wealthy Portuguese families who have massive power and influence. Fall out with them and you're going to have a very, very hard time. Link to comment Share on other sites More sharing options...
wee Jinky Posted May 31, 2011 Report Share Posted May 31, 2011 Yeah I've spent a bit of time there. Lovely place, relaxed way of life, cows in people's back gardens. But you have to accept the fact that you're literally in the middle of nowhere and, more importantly, each island is headed up by a small elite of wealthy Portuguese families who have massive power and influence. Fall out with them and you're going to have a very, very hard time. I used to live in Sth Uist -I know the score cheers for the info Link to comment Share on other sites More sharing options...
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