The nervous wait to exchange....
- Thread starter noj
- Start date
Its crazy. Here in the North East a simple 2 bed box house goes for £120-130k for ex-council houses and recentish builds, its complete madness. I'm in the process of buying a 3 bedroom for £130k built in 2016, they paid £119k for it (already overpaid due to it being a newbuild). Might not sound like allot as we are all millionaires on here but its mad.
Deleted User 298457
Deleted User 298457
House I wanted has gone for asking with a big cash deposit. Impossible to compete.
Got an offer on mine of 525k after a first viewing, I paid 450k 2.5 years ago. I've asked her for more as tbh I can wait longer for the right buyer as there is nothing on the market now.
Had a similar situation, only 2 months though I think (and money was spent). That definitely sucks though!
Rang up my mortgage company thinking about renewing and breaking the old term.
They value the house at 315.
Bought this house in Feb 2020 for 260
55k in 2 years.
Not just 55k but 20 percent. Absolutely ridiculous. Makes next house so far away. I wish these price rises would stop
Unfortunately people like me will keep that from happening a bit. Indeed anyone who's buying now, isn't going to want prices to drop! I'd be fine with them staying as they are, but no big drops please.
Ive always said, complete long term stagnation is far better than any movement in either direction. Stagnation is a real terms drop but it avoids big cash losses.
What happened post 2009 is loads of people ending up in situations where their mortgage deals expire but they can’t renew because of negative/low equity, they end up setting stuck on insane default rates which also mean they also can’t pay down the equity to get out of the situation as it’s all spent on interest.
Caporegime
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130k.....
Come talk to me down London...
130k you lucky sod!
I'm on the hunt for a 3 bedroom and guess what? I need to be half a millionaire basically...
Just viewed a TINY HOUSE!! One bed. Really small, thin terrace. I could probably touch either living walls while standing in the middle of the room!
Front door opens into living room. Its tiny inside but, may be perfect for an old git like me!
May be scope to build onto tiny extension and put 2nd bedroom in there. Or attic conversion.
Taking daughter later for 2nd viewing.
Edit:
Made an offer. Accepted!!!!
Front door opens into living room. Its tiny inside but, may be perfect for an old git like me!
May be scope to build onto tiny extension and put 2nd bedroom in there. Or attic conversion.
Taking daughter later for 2nd viewing.
Edit:
Made an offer. Accepted!!!!
Last edited:
Tell me about it. Other news I had my offer accepted on a 2 two bed Victorian conversion flat, one the bigger ones I've seen too.
It's all relative right? Up here some of our wages are half a London wage. House prices sadly do not follow the same rule, I live in the north east too(Durham) and I'm looking at 3 bed houses with front/back garden drive and garage for 120-130k.
It's all relative but I think if you're looking at average house prices versus average salaries for the area then it is much harder in the south/south east. I think some towns like Oxford or Cambridge are well over 13x on those sort of scales, whereas London as a whole in more like 10-11x. That's just off the top of my head, and also pre-2020 so I'd imagine those commuter towns are even worse now what with everyone moving out of London (apparently)!
Caporegime
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even if your wages are half as of whats in london, our properties here are certainly not 260k....
500k+ and thats in the outskirts of london as well...
Deleted User 298457
Deleted User 298457
Median salary is £27k in Durham, thats only 14% less than London. The median price of a Semi is only £236k versus £655k in London. So you earn 14% less but your house is 64% cheaper.
Caporegime
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It really depends where you work, and if you are or need to play the long game or not.
It’s not uncommon for the London and non-London salary difference to be as little as 10% for the same job in the same organisation. But often there is a larger concentration of higher level jobs in London than outside and more opportunities to get one.
It’s not uncommon for the London and non-London salary difference to be as little as 10% for the same job in the same organisation. But often there is a larger concentration of higher level jobs in London than outside and more opportunities to get one.