iam not talkign about a house , talking about a block of flats.
House prices..
- Thread starter fendi
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iam not talkign about a house , talking about a block of flats.
Soldato
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How much do you think allocating a foor for parking effects the prices of each of the residential units above it? Its not like you can just add it later anyway.
If they designed it into the design then it wouldnt be a problem, infact in a high density area it would be much cheaper.
Soldato
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- Shakespeare’s County
Is that ignoring planning legislation that prevents elevation above a set amount of storeys/height?
It wouldn't be cheaper. they build the houses for next to nothing. any substantial build like that would probably increase the build cost by 50%. For what a car space.
Problem you have with underground parking is access as well, you need to have a ramp at a certain angle going down which can take up lots of space. Then all the walls need to be reinforced as well IIRC especially if one of the walls is close to the edge of your property and close to a road. You then have to put in measures for ventilation and then if the basement gets flooded and damp.
The cost is so big unless you are putting in loads of flats or you are in a posh area and get a return on that it doesn't make much sense.
The cost is so big unless you are putting in loads of flats or you are in a posh area and get a return on that it doesn't make much sense.
Some analysts are now reporting that prices will remain fairly flat or even a slight rise over the course of 2009, having seen prices rise over the past couple of months according to NW/Halifax.
Not sure what to think really, I suspect that we won't seeing another property boom in the near future because once the economy starts showing signs of recovery I can see the BoE jumping on the Interest rate quicksmart. Essentially I think lending will remain more restricted than it was until the collapse of the Rock, previously 'high' interest rates didn't really affect people's ability to get a mortgage, but now can see the deposit clampdown remaining in place for a while and people being a bit more wary of committing to high monthly payments. Likewise the Stamp Duty threshold is due to revert back to £125k at the end of the year which while a relatively small sum (£1750 on a £175k house) will effectively reduce the price of house you can buy with a given sum of money.
Not sure what to think really, I suspect that we won't seeing another property boom in the near future because once the economy starts showing signs of recovery I can see the BoE jumping on the Interest rate quicksmart. Essentially I think lending will remain more restricted than it was until the collapse of the Rock, previously 'high' interest rates didn't really affect people's ability to get a mortgage, but now can see the deposit clampdown remaining in place for a while and people being a bit more wary of committing to high monthly payments. Likewise the Stamp Duty threshold is due to revert back to £125k at the end of the year which while a relatively small sum (£1750 on a £175k house) will effectively reduce the price of house you can buy with a given sum of money.
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I think that would be a fairly safe assumption
Nah, prices will fall a little now. Historically prices fall during the colder months, hence the need for season adjustment!
I dont believe any of these crackpot economist. They couldnt even see the coming of the biggest recession since 1929 FFS, what the makes them think they have the authority to predict anything?
Prices are only going one way over the next 5 years, and thats downwards. Anyone beleiving otherwise is deluded.
I dont believe any of these crackpot economist. They couldnt even see the coming of the biggest recession since 1929 FFS, what the makes them think they have the authority to predict anything?
Prices are only going one way over the next 5 years, and thats downwards. Anyone beleiving otherwise is deluded.
I haven't posted in this thread since just before the recession, I bought my house in June 2007 just before the crash for £81K (valued at £80K).
I've just had a valuation due to requesting a transfer of equited (from joint to sole) and it was valued at £85K
. I've done some work to the living room and toilet but they're not even finished!
I've just had a valuation due to requesting a transfer of equited (from joint to sole) and it was valued at £85K
. I've done some work to the living room and toilet but they're not even finished!I haven't posted in this thread since just before the recession, I bought my house in June 2007 just before the crash for £81K (valued at £80K).
I've just had a valuation due to requesting a transfer of equited (from joint to sole) and it was valued at £85K
Don't get too excited, was that a silly estate agent valuation, or a proper bank/surveyor valuation?
Its very unlikely you've made a gain, considering prices have fallen about 20% from peak.
Indeed, it's much better to listen to random people on the internet, because after all they didn't get the reasons and causes for the recession that did occur wrong at all, did they? none of them claimed it would be because interest rates and inflation would skyrocket causing massive repossessions and collapse of the market through that root, which is pretty much the opposite of the actual cause of this one....
We will only see a boom if easy to gain credit is reintroduced, will the banks (its in their best interests) and governments allow it?
Its going to take years for the average wage to rise and to get a lot of people back into work. Plus building work has stopped in my area, nothing is being built, plot of land on and old disabled school, 3 "luxiries" homes have been built and none have been occupied, they want £500k+ for 5 bed homes on a main road next the main line from London to Glasgow, plot of land is big enough for about 10 homes , land ear marked is just sitting their doing nothing, so in a few years when things pick up and a demand for cheap homes could push up the price of homes.
Its going to take years for the average wage to rise and to get a lot of people back into work. Plus building work has stopped in my area, nothing is being built, plot of land on and old disabled school, 3 "luxiries" homes have been built and none have been occupied, they want £500k+ for 5 bed homes on a main road next the main line from London to Glasgow, plot of land is big enough for about 10 homes , land ear marked is just sitting their doing nothing, so in a few years when things pick up and a demand for cheap homes could push up the price of homes.
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These assumptions are based on seasonally adjusted figures....
I wouldn't say I 'believe otherwise', but equally I wouldn't be astounded if prices were no lower in 5 years time than they were at the start of this year.
If you look at the last crash, it took around 10 years to recover to peak value. But we're not currently at the peak, we've had 5 quarters of (annualised) falls. Will prices be lower in summer 2012 than they were in summer 2007? Probably. Will they be lower in summer 2014 than they are today? I'm not so sure.
It's worth noting that current house prices are pretty much bang on the long-term curve.
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A proper bank/surveyor, transfers of equity have nothing to do with estate agents.
Prices in and around cambridge are recovering. The prices are slowly recovering due to the lack of houses on the market. The building work is starting to pick up as well. Developements that stopped or slowed down are opening up again.
I don't believe they will go down much at all. Certainly it's not going to boom again for a while and will stay pretty flat.
I reckon prices will fall over the next year and a half. There will be a lot of downward pressure on the housing market, particularly in the form of unemployment, public sector cuts (which will lead to further unemployment) etc.
Currently house prices are still way above real value. I will eat my hat if we start to see another house price boom - there needs to be a drastic shift in attitude towards property in this country. I wonder if it will come in another future crash....
Also, there isn't so much a shortage of houses on the market, there is a shortage of AFFORDABLE homes. There are just over 1m properties vacant in the UK from what I last saw.
Currently house prices are still way above real value. I will eat my hat if we start to see another house price boom - there needs to be a drastic shift in attitude towards property in this country. I wonder if it will come in another future crash....
Also, there isn't so much a shortage of houses on the market, there is a shortage of AFFORDABLE homes. There are just over 1m properties vacant in the UK from what I last saw.
Yep, just wait until the tax hikes, and the reduction in living standard we will experience for the next decade. Thats when it will dawn on the masses that prices are silly, and those that jumped on the "ladder" now will be kicking themselves at the life time of debt they've signed up to.
But thats what the government wants; debt slaves. You can't step outside of the world of making a few select people at the top better and better off, if you want a roof over your head.
I hope squating becomes mainstream.