Im calling it.....

Houses round wear my parents live are selling fairly well. Two in excess of £700k (bungalows) sold last few weeks.

On my estate houses are selling almost instantly...

If you believe Rightmove my house has gained £60k in the last 6 months... waiting for it to hit Zoopla to see what it actually went for...
 
2 Houses in my road sold within hours of going on the market in the last month.

£40,000 more than 6 months ago.

Its going mental.
 
jonneymendoza said:
thats mimimum amount id say in london
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It depends where you are and what you're looking for. There's lots of places in London for less than £500k (or £525k as you'd usually need at least a 5% deposit too), whether they're in the area that you specifically want and whether you think they are worth the money is perhaps a different issue.
 
semi-pro waster said:
It depends where you are and what you're looking for. There's lots of places in London for less than £500k (or £525k as you'd usually need at least a 5% deposit too), whether they're in the area that you specifically want and whether you think they are worth the money is perhaps a different issue.
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yea indeed i agree.

i think average 500k i would say. You can get lower but area may not be nice and/or the place may need a lot of work.
 
h4rm0ny said:
This is a very uneducated opinion, but I would have thought if there's a re-adjustment of house prices that it affects the top end of the market far more than the middle and low-end. There's a shortage of housing which creates a lot of upward pressure on houses. Even if house prices fall, people are still going to want somewhere to live. It's those who buy to make money that will scarper. If the prices start falling it would be a bad time to buy somewhere to do up and sell, but it's not going to matter much to someone who wants a roof over their heads and is confident they can keep up the payments.
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Possibly, but I guess it depends a bit on the profile of the buyers. If the top end has a greater proportion of cash buyers (or at least low LTV) then you could argue that they'd be less impacted by the credit squeeze that would inevitably result, whereas the bottom-feeders scratching around for 'cheap' housing may suffer because said housing has already risen to levels only attainable thanks to cheap credit. Obviously in nominal terms I'd expect a more expensive house to drop by a larger amount, but not necessarily in percentage terms.
 
jonneymendoza said:
yea indeed i agree.

i think average 500k i would say. You can get lower but area may not be nice and/or the place may need a lot of work.
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£380k for my 2 bed new build apartment in Walthamstow, not the nicest of areas but it's pretty up and coming, lots of 'hip' new bars/restaurants appearing.
 
jonneymendoza said:
yea indeed i agree.

i think average 500k i would say. You can get lower but area may not be nice and/or the place may need a lot of work.
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a place needing some work shouldn't have much of an effect on the price in comparison to the location tbh..

location is the key factor and it isn't necessarily about the area being 'nice' either - plenty of nice areas in say South East London near Blackheath/Greenwich yet they'll be cheaper than some areas of East London which are complete **** holes in comparison
 
Gotta love trying live in a ****** apartment in London full of structural issues and mould for half a million, the Japanese know how to do it right.
 
i dont get why you would want to live in a city with 7 million posh southen people in it when the houses are 1million per 1sq foot. you can get a whole row of houses in liverpool for £10k and live there with no money lending required. your m8 barry can selling you a nice 2005 520d thats only been stolen twice and you can just get a job at mcdonalds. because you dont need £100,000 a day to pay rent.
 
StriderX said:
Gotta love trying live in a ****** apartment in London full of structural issues and mould for half a million, the Japanese know how to do it right.
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Why would you buy an apartment with structural issues and mould?

Also why work outside London where there are hardly any decent jobs and you're going to be exploited by your employers/paid a pittance?
 
dowie said:
Also why work outside London where there are hardly any decent jobs and you're going to be exploited by your employers/paid a pittance?
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wouldn't say this is true, well it probably is if you compare salary for salary, but you need to compare living costs and all.
 
Our house has gone up £40k since Christmas - shocking really and i see no slow down.

I know this sounds harsh, but the banks need to stop unnecessary lending and feeding an already over priced market because all the time they do, they don't help. All the time there are "help to buy" schemes etc.. then the demand remains and prices will continue to rise. If market is choked at it's source, along with higher interest rates, then, and only then, will house prices fall.
 
Admiral Huddy said:
Our house has gone up £40k since Christmas - shocking really and i see no slow down.

I know this sounds harsh, but the banks need to stop unnecessary lending and feeding an already over priced market because all the time they do, they don't help. All the time there are "help to buy" schemes etc.. then the demand remains and prices will continue to rise. If market is choked at it's source, along with higher interest rates, then, and only then, will house prices fall.
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Why would they stop it? It makes them huge amounts of money with very little risk to their business....
 
the only thing that will stop it is higher interest rates - too many people have vested interests to do anything about it.

its going to end very badly, but that could be many years in the future unfortunately (by which time it will be worse).
If they had let economies boom and bust like they used to then none of this would have happened - but no, they meddled and kicked the can down the road.
 
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