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Housing market

Mike Reed said:
Are you working on an algorithm to predict the next property valuation event, Steve? They really crashes in the early nineties but started picking up around '95 in the southern sticks. Funny thing is, I don't recall a plummet; just a slight correction maybe, after the 2008 fiasco.

Just heard on the news (Nationwide) that April saw a 0.4% drop on March, which was again lower than previously. Peanuts, but if a trend, compounding will take effect; new rises in 2 and 5 year fixes by many lenders are only going to tighten thing up.

I've been wondering, if, as reported, f.t. buyers are holding off/moving back home/whatever, who do the lenders lend to? I'm a saver, but if they're not lending out, will they want my money to such an extent. I know they make £££ on other markets, but still.......
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No, the algorithm I'm currently working on, when I'm not wasting time here, is hygiene monitoring in a food factory. It's all about the glamour with me, you see.
I do remember a good dip in 2008. About 20% across the board here in the Frozen North, which didn't really recover for the first half of the 2010s. Which was good news for me, because I wasn't able to buy a house at that time (or indeed work for a lot of it following the accident in 2009) so there wasn't eye watering inflation that saw housing just getting further and further out of reach. When I was ready to buy in 2015 prices were stable, maybe just about jogging along with inflation, and they didn't do much for a good 2 years after that. Only post COVID have they absolutely exploded.
 
Minio said:
The end of the 90's was a good time to buy.
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The mid nineties was even better. However, if selling and buying within a small time frame, the only difference is the increased % costs of the much-loved estate agents and solicitors.

Within 1 year of moving to Norwich (2001 to 2002) I bought two and sold three; Pembrokeshire, Thanet and Norwich. Couldn't do that again !!!!! :(
 
Mike Reed said:
The mid nineties was even better. However, if selling and buying within a small time frame, the only difference is the increased % costs of the much-loved estate agents and solicitors.

Within 1 year of moving to Norwich (2001 to 2002) I bought two and sold three; Pembrokeshire, Thanet and Norwich. Couldn't do that again !!!!! :(
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I and a few friends bought first houses in 1995 ish, at that time you could buy a house for 2/3 the rental value. I went from renting a 2 bed flat for £350 a month and having to be careful at the end of the month to owning a 2 bed house for £220 mortgage and not giving a toss when I wanted a weekend away or a night out. Good times. I actually followed some very good advice from a chap at work, he said "Listen Steve, you're a young single bloke, I know you need a house to live in but you're interested in going off to the mountains every weekend you can, not sitting indoors. So by all means buy a house but don't get one any bigger than you need. If you get married and have kids, you can do that them, but right now you want to be spending your money on going out, having a good time, weekends in the Lakes and doing the stuff that you can only do when you're single." Good advice indeed.
 
stevec67 said:
Good advice indeed.
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Sth I've never followed, as every house I've had (bar one interim property) had to meet the conditions for hifi and gardening. I did overdo it a bit on my second property in Ramsgate in '82. It had 23 rooms (but incl. 5 loos and 5 cellar rooms), and a quarter acre garden. My wife and I used to bump into each other on occasion !
 
In the rest of the world outside the UK, prices sometimes rise faster than inflation and sometimes fall back, real drops for several years. Right now the prices are at about the inflation value, nothing like as overheated as the UK. Some units in KL near me, built at the top of the market in 2015, fell to just 50% a few years ago. They have recovered to about 75% recently. The government has not been pumping the market like the UK does.
 
hifinutt said:
oh my goodness !! 23 rooms ! sounds phenomenal but cleaning 5 loos does not appeal
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We have 5 loos but only regularly use 2 so it doesn’t have to be so bad. We would move to a smaller house but there a several reasons why there’s little incentive to do so. We are therefore hogging a 6 bed early Edwardian semi for just the two of us. Maybe the loo cleaning with get to us in the end!
 
hifinutt said:
oh my goodness !! 23 rooms ! sounds phenomenal but cleaning 5 loos does not appeal
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Cleaning loos? Well I never! One of the cellar rooms with Victorian rack capacity for well over 100 bottles (nearer 200 if memory serves). I did try SO hard in those years to do it justice and fill it but I failed 'cos I kept drinking the stuff.
davidsrsb said:
I have four bathrooms in a condo
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Now that's just silly. How clean can you get? If Malaysia, showers, surely. Baths are really old hat (or are they?)
 
hifinutt said:
Leasehold company driving us bonkers trying to get a deed of variation . they wanted proof of address so we sent a service charge notice with address on. nope not good enough
then we sent a BT bill , nope not good enough
then we sent a water bill .... you guessed it ... this is all taking months and not acceptable in my opinion .. no wonder the rules need updating
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I am also dealing with similar. One agency wants water and council tax, another electric/gas. But paper copies only! A third requires no proof at all. Scammer’s paradise. The system needs an overhaul. It’s a recurring refrain of mine. Identity and linked address should be both secure, easily demonstrable and acceptable to all interested parties.
 
tuga said:
Just launched!, they write with excitement. £650k, insultingly small...

www.rightmove.co.uk

Check out this 3 bedroom detached house for sale on Rightmove

3 bedroom detached house for sale in Priory Grove, St Frideswide, Banbury Road, Oxford, OX2 for £650,000. Marketed by Savills New Homes, Summertown
www.rightmove.co.uk www.rightmove.co.uk
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Price aside, that's not that a bad layout.

Round here the trend for new builds seems to be a tiny lounge but a huge kitchen/diner

How the hell is a person expected to fit Vox Olympians in a 10ft x 10ft lounge
 
tuga said:
Just launched!, they write with excitement. £650k, insultingly small...

www.rightmove.co.uk

Check out this 3 bedroom detached house for sale on Rightmove

3 bedroom detached house for sale in Priory Grove, St Frideswide, Banbury Road, Oxford, OX2 for £650,000. Marketed by Savills New Homes, Summertown
www.rightmove.co.uk www.rightmove.co.uk
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You must have led a sheltered life, it's not that small. The footprint is about 8m x 5, 2 floors, so 80 sq m overall. That's adequate for a 3 bedroom home. I've lived in a smaller 2 bed place, that was just shy of 50 sq m. Where they have fouled up the design is in insisting on having multiple bathrooms and lavatories, as is the modern way and as the market expects. This eats living space because you don't live in the bathroom.
As for the price, it's in Oxford. There are few more expensive places in the UK.
 
stevec67 said:
There are few more expensive places in the UK.
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Haha 3 bed semi ok?

www.rightmove.co.uk

Check out this 3 bedroom semi-detached house for sale on Rightmove

3 bedroom semi-detached house for sale in Newtown Road, Warsash, Southampton, SO31 for £1,700,000. Marketed by Fox and Sons, Hedge End
www.rightmove.co.uk www.rightmove.co.uk

Hook Park in Warsash has to be one of the most expensive after the goto favourite of Sandbanks, it's crazy money

Rightmove.co.uk

Search over a Million properties for sale and to rent from the top estate agents and developers in the UK
www.rightmove.co.uk www.rightmove.co.uk
 
vacuum_tubes said:
Haha 3 bed semi ok?

www.rightmove.co.uk

Check out this 3 bedroom semi-detached house for sale on Rightmove

3 bedroom semi-detached house for sale in Newtown Road, Warsash, Southampton, SO31 for £1,700,000. Marketed by Fox and Sons, Hedge End
www.rightmove.co.uk www.rightmove.co.uk

Hook Park in Warsash has to be one of the most expensive after the goto favourite of Sandbanks, it's crazy money

Rightmove.co.uk

Search over a Million properties for sale and to rent from the top estate agents and developers in the UK
www.rightmove.co.uk www.rightmove.co.uk
Click to expand...
Is that what they pay me to live in Southampton? I'll have a think. How long do I have to stay?

Do note that I said "there are *few* more expensive places than Oxford. Southampton appears to be one, God only knows why.
 
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