House prices..

cheets64 · 29 May 2008 at 14:10

Harsh time ahead, we need affordable housing and quick, in this area I dont know when the government last built any council homes.

Work is to be dramatically halted on a blue chip Billinge housing development as the country's credit crunch bites in the borough.
Britain's biggest builder confirmed that it is stopping construction on the site of the former Billinge Hospital, on all homes not already sold, just months after it was controversially granted permission.

Persimmon Homes, which is creating a prestigious development of more than 210 properties on the land, has postponed starting work on new house plots on the 8.5 hectare Greenfields estate.

Morba · 29 May 2008 at 14:15

Stinky said:
have you seen these effects in your local market? have you seen prices falling off the asking prices around you?

Prices are dropping quite quick around my area, also very much so in the areas in Bristol that we are currently looking at.

Indy500 · 29 May 2008 at 14:16

Boris Johnson pledged to build thousands of new homes in the London metropolitan area, but I suspect its politically expedient lies as usual..

frosty03 · 29 May 2008 at 14:22

cheets64 said:
Harsh time ahead, we need affordable housing and quick, in this area I dont know when the government last built any council homes.

Can i be devils advocate and ask WHY do we need to OWN a house?
You hardly see scores of people actually homeless roaming the streets.

What is wrong with renting? What makes people think that it is their "god given right" to own a house?

If you can afford it fine, buy. If not rent.

Part of this crisis comes from the fact that the age of ownership has fallen (no source). People are buying at a younger and younger age. It used to be you could only afford it once you've saved up for a while and are financially stable. What has changed besides "EXPECTATION"?

cheets64 · 29 May 2008 at 14:25

Renting is an option BUT its not your home, its someone else, granted its cheaper than a mortgage so you can save more but you might as well get a council house if you are going to rent. Renting you are giving someone your hard earned money and seeing no return apart from a roof.

Morba · 29 May 2008 at 14:27

cheets64 said:
Renting is an option BUT its not your home, its someone else, granted its cheaper than a mortgage so you can save more but you might as well get a council house if you are going to rent. Renting you are giving someone your hard earned money and seeing no return apart from a roof.

Sorry, you are saying i might as well be in a council estate than the private property i am currently renting?
You are off your rocker tbh.

FirebarUK · 29 May 2008 at 14:27

What is it with the stigma against renting in this country? It's very very prevalent on the continent with nothing like the attitude here.

no return apart from a roof.

Surely a roof over your head is the really important bit.

Englishman and his Castle etc.

cheets64 · 29 May 2008 at 14:28

Morba said:
Sorry, you are saying i might as well be in a council estate than the private property i am currently renting?
You are off your rocker tbh.

What is wrong with a council estate?

Indy500 · 29 May 2008 at 14:30

cheets64 said:
What is wrong with a council estate?

They're much cheaper than the usual market rates, for a start. Of course some folk are snobbish and dislike "living with scroungers on the same estate".

Morba · 29 May 2008 at 14:30

cheets64 said:
What is wrong with a council estate?

Whats right with them?
I came from council estates, i'm not going back :]

Morba · 29 May 2008 at 14:31

sr4470 said:
They're much cheaper than the usual market rates, for a start. Of course some folk are snobbish and dislike "living with scroungers on the same estate".

Its not that they are scroungers, its more that the quality of life and housing is generally a lot poorer than what i can get privately.

Indy500 · 29 May 2008 at 14:32

Morba said:
Its not that they are scroungers, its more that the quality of life and housing is generally a lot poorer than what i can get privately.

My friend had Balfour Beatty repairing the place when something broke...is that poor quality service?

Morba · 29 May 2008 at 14:34

sr4470 said:
My friend had Balfour Beatty repairing the place when something broke...is that poor quality service?

I didnt say poor service, i said poor quality.

I want to drive up to house and be happy that i live there in that area, not something im going to get on council estate.

frosty03 · 29 May 2008 at 14:35

cheets64 said:
Renting is an option BUT its not your home, its someone else, granted its cheaper than a mortgage so you can save more but you might as well get a council house if you are going to rent. Renting you are giving someone your hard earned money and seeing no return apart from a roof.

Council housing should only be for those who absolutely cannot afford to rent or find accommodation. It should not be a "lifestyle choice".

Renting can be far cheaper, since you have absolutely no liability on the house. For repairs or any other associated costs that comes with owning and up keeping a house. And you could move at relatively short notice.

I put it to you that a large chunk of my mortgage goes only to interest, and by my calculations, that amount would be very similar to renting the place, but without the additional liability of maintaining the property. The only "gain" i get would have been from the property going up in value when i sell, but we all know what's happening at the moment....

Indy500 · 29 May 2008 at 14:35

Morba said:
I didnt say poor service, i said poor quality.

I want to drive up to house and be happy that i live there in that area, not something im going to get on council estate.

I have no idea what your locality is like RE: council housing, but around here they're no worse than the private houses.

Morba · 29 May 2008 at 14:36

sr4470 said:
I have no idea what your locality is like RE: council housing, but around here they're no worse than the private houses.

You either are lucky or your private housing estates also would not be somewhere i would choose to live

Indy500 · 29 May 2008 at 14:37

Morba said:
You either are lucky or your private housing estates also would not be somewhere i would choose to live

In all fairness, the crime is rather high compared to the national average (well, muggings, assault and carjackings at night are). Ironically, the police station is within 5 minutes of the worst district :/

Hawk Tuah · 29 May 2008 at 14:38

cheets64 said:
What is wrong with a council estate?

They are full of characterless houses, to home the masses. For the same price as a council house, I managed to find a beautiful 30's semi on a closed off road, with a large garden leading into a wood.

I've just had a look at houses for sale around my area. Well, since I was looking last year, it looks like everything has gone up a bit. This crash is a complete media fabrication. So you guys just keep holding out for that 4 bedroom house for £50k.

clv101 · 29 May 2008 at 14:41

frosty03 said:
Part of this crisis comes from the fact that the age of ownership has fallen (no source). People are buying at a younger and younger age. It used to be you could only afford it once you've saved up for a while and are financially stable. What has changed besides "EXPECTATION"?

I think you'd better dig up a source for that claim, my understanding was the average age of first time buyers had increased over the last decade and was now over 30.

cheets64 said:
Renting you are giving someone your hard earned money and seeing no return apart from a roof.

When you buy with a mortgage you have to pay interest to the bank, otherwise known as giving your hard earned money away. Renting and saving is no different to paying interest on and paying of capital of a mortgage.

Third Opinion · 29 May 2008 at 14:43

Sky news atm Capital economics spokeswoman says this housing slowdown will be at best equal to the 1992 crash or quite possibly even worse. Blimey not looking good at all.