Sandhill Plant

[GazCro]

It needs to crash, it's unsustainable. You can't have average houses costing 14 times the average local wage, no matter how cheap interest rates (currently) are.

It can't last you wouldn't think but with so many houses being bought and sold at sky high prices might not drop back down to where it was. Crazy some of the prices mind. A house i dug an extension out on about 8 years ago got sold earlier this year. Decent size 4 bed house in a village v well done but I'd have said 500k max. Had estate agent round to value and he said "i think I'd put this on at 750k"! Fella said if you think you can get that you put it on mate, bear in mind they hadn't anywhere lined up to move to. Sold within a week!

 

[V8Druid]

Get a bigger trailer then! you must need one now with all your attachments coming along too? I like the 10x5s for 1.8 tonners as can fit a single drum roller (for example) on the trailer along with the machine, come back and get dumper with out changing trailers etc.

would've thought a bigger trailer'd be an easier thing to source than a dumper of the size required at the right price

 

[TiltyShaun]

It needs to crash, it's unsustainable. You can't have average houses costing 14 times the average local wage, no matter how cheap interest rates (currently) are.

Crash does nobody any good!! But certainly a major cooling off is required! Interest rates look set to be low for a while. What usually causes UK prices to crash is unemployment or fear of!! So we will see what the future brings.

 

[V8Druid]

It needs to crash, it's unsustainable. You can't have average houses costing 14 times the average local wage, no matter how cheap interest rates (currently) are.

going to end up with lifetime mortgages the way it's going ...... the kids inherit a mortgage like the Japs

 

[Smiffy]

People have a value of there house stuck in there heads, between this and there mortgage it is only much older couples with mortgages paid of and who have been living the house for a considerable amount of time that will sell for less.
The prices may fall very slightly and prices may go stagnant for a long time but they won't drop considerably as people just won't sell therefore less houses on the market therefore prices will be maintained.
I think house building will grind to a halt as the developers won't be in a position to hold of on selling

 

[Jimoz]

Maybe it's not so toppy round my neck of the woods then. What kind of dollar your way @fred I know you have had dealings with STW so must be relatively close?

 

[fred]

Maybe it's not so toppy round my neck of the woods then. What kind of dollar your way @fred I know you have had dealings with STW so must be relatively close?

all depends on location, nothing any good selling for much below £350 sq ft.

 

[Jimoz]

Is anyone else sitting it out or full steam ahead? Everything has just seemed a bit mad to me

 

[Furniss]

And going up daily!! Being driven by the London exodus!!

Its a real shame but its even happening here with lots of people quitting the big cities .... parisiens/germans/dutch buying places without even viewing them in person.

I get the impression (round here at least) that the foreigners in the main that have traditionally moved here have been a certain type of people looking for a different way of life unlike the new wave.

Upside is lots of work ... wealthy clients but definitely prefered it as it was ... little white vans are rapidly giving way to chromed up 4x4's and less and less affordable houses for first time buyers.

Progress

 

[pettsy]

Where abouts are you in France @Furniss ?

 

[TiltyShaun]

Is anyone else sitting it out or full steam ahead? Everything has just seemed a bit mad to me

Looking to see what is about when the proceeds of the sale are in the bank!! Looked at some odd balls recently that had some potential that I thought £65-70k. Went for over £90k
So it will be interesting to see what finally fills the void!

 

[Furniss]

Where abouts are you in France @Furniss ?

Brittany

 

[GazCro]

Saying about stuff going mad ex council house in local village

now don't get me wrong lovely location views etc and decent size garden. Potential for wrap around extension to make a really good size 4/5 bed house but still semi detached. But obviously that would cost. Currently bid up to 400k i believe!

 

[Lancs Lad]

Saying about stuff going mad ex council house in local village View attachment 26060now don't get me wrong lovely location views etc and decent size garden. Potential for wrap around extension to make a really good size 4/5 bed house but still semi detached. But obviously that would cost. Currently bid up to 400k i believe!

Wtf...that's gotta be 2nd home lark.
Like u say it's a lovely spot but 400k

 

[GazCro]

Wtf...that's gotta be 2nd home lark.
Like u say it's a lovely spot but 400k

The bit that gets me is that yes it has big potential but if you buy at that price and put 150 to 200k into extensions etc you end up with one hell of a house but 600k for a semi detached? It's always been the same round here though people seem happy to pay nearly finished prices for houses which need work. If you keep for a few years you do seem to end up on the right side but there's prices going round at the minute which i think will take a long time to get back.

 

[Giles]

The bit that gets me is that yes it has big potential but if you buy at that price and put 150 to 200k into extensions etc you end up with one hell of a house but 600k for a semi detached? It's always been the same round here though people seem happy to pay nearly finished prices for houses which need work. If you keep for a few years you do seem to end up on the right side but there's prices going round at the minute which i think will take a long time to get back.

We’ve just spent £600k on a semi not in the lakes and no views and going to throw a further £150-200k at it in extensions etc. 25 bidders on it, we were 85k over asking.

 

[doobin]

Crash does nobody any good!! But certainly a major cooling off is required! Interest rates look set to be low for a while. What usually causes UK prices to crash is unemployment or fear of!! So we will see what the future brings.

It does plenty of people good, not least the young who cannot even dream of buying currently without lots of help from parents. The 10% increase in starter house prices down our way last year was 30k. What a kick in the nuts for all those scrimping and saving every last penny to save 20k a year together. That's on top of rental prices being absoloutely top dollar and no spare rental stock. Only the scummiest are given council housing.

It's time to tax the hell out of buy to let landlords (or even just enforce the current tax regs!) and bring in rent controls like Europe and the US. Stop imigration and lock up slum landlords letting out 'rooms' in a squalid house. Offer repatriation packages for most of Bradford etc- it'll be cheaper in the long run, and it's all just debt anyway. Nationalise water, gas, electric, the railways. Replace council tax with a property tax on the value, and a serious multiplier on second homes. Extra taxes on AirBNB lets, which are killing communities.

Vote for me. This country needs a goverment that will look out for all it's citizens first and foremost. It's time for National Socialism, but I promise not to invade France this time.

 

[Smiffy]

It does plenty of people good, not least the young who cannot even dream of buying currently without lots of help from parents. The 10% increase in starter house prices down our way last year was 30k. What a kick in the nuts for all those scrimping and saving every last penny to save 20k a year together. That's on top of rental prices being absoloutely top dollar and no spare rental stock. Only the scummiest are given council housing.

It's time to tax the hell out of buy to let landlords (or even just enforce the current tax regs!) and bring in rent controls like Europe and the US. Stop imigration and lock up slum landlords letting out 'rooms' in a squalid house. Offer repatriation packages for most of Bradford etc- it'll be cheaper in the long run, and it's all just debt anyway. Nationalise water, gas, electric, the railways. Replace council tax with a property tax on the value, and a serious multiplier on second homes. Extra taxes on AirBNB lets, which are killing communities.

Vote for me. This country needs a goverment that will look out for all it's citizens first and foremost. It's time for National Socialism, but I promise not to invade France this time.

I would slightly disagree being in the position of buying my first house 2 years ago at 26

It is not as impossible to save a deposit as a lot of people my age make out. The problem is you have to work hard and and spend sensibly.
That is what my generation actually struggle with. The amount of people I know that say they can't afford a house whilst having a financed Merc and a wardrobe full of Desiigner clothes is unreal.

 

[fred]

100% mortgages are back now which is good. Rates will never go back to 7%+ as pretty much anyone who bought in the last 10 years would default if there mortgage payment trebled. People would be in negative equity and have no incentive to pay a mortgage, just default, hand the keys back and wait on the council to house them.

At the end of the day if someone is paying £800 in rent and can get a mortgage on the same place for £750 with no deposit the banks should give it to them regardless of what they earn. If they have been paying the rent i cant see a problem.

 

[TiltyShaun]

It does plenty of people good, not least the young who cannot even dream of buying currently without lots of help from parents. The 10% increase in starter house prices down our way last year was 30k. What a kick in the nuts for all those scrimping and saving every last penny to save 20k a year together. That's on top of rental prices being absoloutely top dollar and no spare rental stock. Only the scummiest are given council housing.

It's time to tax the hell out of buy to let landlords (or even just enforce the current tax regs!) and bring in rent controls like Europe and the US. Stop imigration and lock up slum landlords letting out 'rooms' in a squalid house. Offer repatriation packages for most of Bradford etc- it'll be cheaper in the long run, and it's all just debt anyway. Nationalise water, gas, electric, the railways. Replace council tax with a property tax on the value, and a serious multiplier on second homes. Extra taxes on AirBNB lets, which are killing communities.

Vote for me. This country needs a goverment that will look out for all it's citizens first and foremost. It's time for National Socialism, but I promise not to invade France this time.

My counter to that is that a house price crash will effect the young more than the old. House price crashes tend to lead to lower consumer spending which fuels the unemployment. This being more so in the younger generation than the middle generation. As for saving for deposits. We have fuelled a boom in new house prices with the government help to buy scheme. I won’t go into the rant about buy to let as you are probably not up to date with the latest tax rules. Buy to let is no easy get rich scheme. As for repatriation. I am afraid that you are deluded to thing that will happen in today’s society!! National socialism may have a future but hopefully not in the manner you portray!