Talking of mental house prices...

We're about to put our flat on the market in E1 and move to the south west suburbs. Brexit is very much a consideration for us, but I'm not expecting a huge dip. The country/banks will fight a housing crash all the way.

With London salaries having grown so much in the last decade, I can't see much of a crash if there's a disorderly Brexit. No deal/chaos could see things move a fair bit in the wrong direction but for us it's a case of either getting the most for our present home and then pay the going rate for the new place, or wait it out and take less and pay less.

If everything moves in correlation then it shouldn't make too much of a difference to us in terms of the size of our new mortgage. But the uncertainty isn't ideal.
 
Funky-Melon said:
I was out walking around Hengistbury head/Dorset/Bournemouth way yesterday and wondered how much some of the beach huts were going for, bit of a shock when I found them online for sale!

https://www.sladeshomes.co.uk/prope...19854/lon--1.79338562011486/propertyindex-122

Makes the rip off houses look a bargain.
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Can you imagine paying that £295,000 guide price, and waking up with that sloping roof one metre from your face?
Never mind the views of The Needles, and Christchurch Bay, I wouldn’t have that if it had views of The Statue of Liberty, Baltimore Harbour, or Copacabana Beach.
 
toshj said:
We're about to put our flat on the market in E1 and move to the south west suburbs. Brexit is very much a consideration for us, but I'm not expecting a huge dip. The country/banks will fight a housing crash all the way.

With London salaries having grown so much in the last decade, I can't see much of a crash if there's a disorderly Brexit. No deal/chaos could see things move a fair bit in the wrong direction but for us it's a case of either getting the most for our present home and then pay the going rate for the new place, or wait it out and take less and pay less.

If everything moves in correlation then it shouldn't make too much of a difference to us in terms of the size of our new mortgage. But the uncertainty isn't ideal.
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Are you going for a cheaper place? I can see your logic but I think the high-end compresses more than the low-end in a crash. So if it does happen you're better off selling now than later, I think? (Which is what you're doing anyway).
 
It is a good thing that people prefer generally to live on top of one another in cities, as it reduces the impact of concreting the world.

We should be happy that there are enough idiots happy to pay £10m for a flat in a tower block in London!

These issues are global. people in Romania complain how unaffordable and expensive Bucharest is, the same in Hungary and Budapest, the same in Denmark and Copenhagen, it is the same template in any country in the world. Hell, I bet even in Somalia people are complaining about the prices in Modadishu.
 
h4rm0ny said:
Are you going for a cheaper place? I can see your logic but I think the high-end compresses more than the low-end in a crash. So if it does happen you're better off selling now than later, I think? (Which is what you're doing anyway).
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Upsizing. Three bed flat to a four bed house. We thought about selling now and then waiting a year to buy but the cost in rent for 12 months wouldn't be insignificant. We've got a kid on the way and my business has had a good year, so now was always a target period for us to make this move.

We're hoping to skip a step and go from the flat to a larger family home (as opposed to something in between for several years) as the stamp duty starts to add up, and mid-sized family homes in the areas we want to live in are still very expensive.

It's all to be decided though - haven't got our flat on the market yet - but I was hoping the homes in our preferred areas would have dropped in price more than they have over the past 12 months. Not in a huge rush. Wife gives birth mid-March and we've got a huge hospital at the end of our road. I think the next 3-6 months are going to be key for us and our property decisions.
 
Spook187 said:
Yes I would, I know people who do live in caravans guess what I ain't bothered, what a odd bubble some live in by your thinking.
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I know someone who was living in a caravan, the real reason why he chose to do that was to be near his kids after a messy divorce. His wife moved to the other side of the country, he actually owned a house elsewhere but rented out and really not sellable from illiquid market. I wouldnt bother judging anyone positively or negatively on face value stuff like that, it can be perfectly smart to be in a very small accommodation at times. You could save a hell of a lot of money if your timing were right, problem is knowing when is the top of a market and when is the bottom as its not a simple question
 
Jean-F said:
Can you imagine paying that £295,000 guide price, and waking up with that sloping roof one metre from your face?
Never mind the views of The Needles, and Christchurch Bay, I wouldn’t have that if it had views of The Statue of Liberty, Baltimore Harbour, or Copacabana Beach.
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Wow can you imagine how many once in a lifetime holidays you could have for even a third of the value of that hut. My garden shed is almost as big as that as well. Lol
 
toshj said:
Upsizing. Three bed flat to a four bed house. We thought about selling now and then waiting a year to buy but the cost in rent for 12 months wouldn't be insignificant. We've got a kid on the way and my business has had a good year, so now was always a target period for us to make this move.

We're hoping to skip a step and go from the flat to a larger family home (as opposed to something in between for several years) as the stamp duty starts to add up, and mid-sized family homes in the areas we want to live in are still very expensive.

It's all to be decided though - haven't got our flat on the market yet - but I was hoping the homes in our preferred areas would have dropped in price more than they have over the past 12 months. Not in a huge rush. Wife gives birth mid-March and we've got a huge hospital at the end of our road. I think the next 3-6 months are going to be key for us and our property decisions.
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^5

That's what we've done, 2 bed flat in London to 3 bed detached in the suburbs.
 
krooton said:
^5

That's what we've done, 2 bed flat in London to 3 bed detached in the suburbs.
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Yeah, it makes sense regardless of when I reckon. It would have been nice for my business to have been two years further along, so I could have sold up in Whitechapel at the top of the market a couple of years back. Whereas our preferred areas (Richmond/St Margarets/Teddington/East Molesey) have powered on increasing over the last 24 months... Whereabouts did you move from/to?

Even with a messy Brexit, I can't see a huge 30% crash in prices - as the BoE indicated could happen. There would need to be widespread unemployment in London in my opinion, but a housing crash combined with massive unemployment isn't going to benefit anyone, let alone anyone trying to get on the housing ladder.

The banks don't mind taking small hits in general but lasting repossessions and people failing to pay mortgages is the last thing they'll/the government will want.
 
toshj said:
Upsizing. Three bed flat to a four bed house. We thought about selling now and then waiting a year to buy but the cost in rent for 12 months wouldn't be insignificant. We've got a kid on the way and my business has had a good year, so now was always a target period for us to make this move.

We're hoping to skip a step and go from the flat to a larger family home (as opposed to something in between for several years) as the stamp duty starts to add up, and mid-sized family homes in the areas we want to live in are still very expensive.

It's all to be decided though - haven't got our flat on the market yet - but I was hoping the homes in our preferred areas would have dropped in price more than they have over the past 12 months. Not in a huge rush. Wife gives birth mid-March and we've got a huge hospital at the end of our road. I think the next 3-6 months are going to be key for us and our property decisions.
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Well good luck with it and congratulations on the baby. I think you're doing the right thing from here - it's better to have your wealth in property than in money, I believe. Who knows what will happen with the pound?
 
toshj said:
Yeah, it makes sense regardless of when I reckon. It would have been nice for my business to have been two years further along, so I could have sold up in Whitechapel at the top of the market a couple of years back. Whereas our preferred areas (Richmond/St Margarets/Teddington/East Molesey) have powered on increasing over the last 24 months... Whereabouts did you move from/to?

Even with a messy Brexit, I can't see a huge 30% crash in prices - as the BoE indicated could happen. There would need to be widespread unemployment in London in my opinion, but a housing crash combined with massive unemployment isn't going to benefit anyone, let alone anyone trying to get on the housing ladder.

The banks don't mind taking small hits in general but lasting repossessions and people failing to pay mortgages is the last thing they'll/the government will want.
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South Coulsdon :)
 
Those houses look really grotty and have no character.

If I was paying millions I would want a mansion with a pool, stables and acres of land, not something with the size and visuals of an apartment at Butlins.
 
Energize said:
Those houses look really grotty and have no character.

If I was paying millions I would want a mansion with a pool, stables and acres of land, not something with the size and visuals of an apartment at Butlins.
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purely a personal thing in my case .i dont use most of my land ,sometimes walk down beyond the green house to check fruit trees but not day to day ,im on a hill above the camel trail and the veiws are stunning but like yesterday ,afew hours on crantock with dog then a surf at fistral ,i prefer to be near water ,save me a 30 min drive ,but the post was more about the price increase of a very plain property in an amazing location
 
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