# Housing market



## Rooter (Oct 20, 2015)

So I have not bought or sold for about 9 years. Just decided to make the jump and the estate agent was round at ours yesterday and took pics at 11am. By 5PM we have 6 viewings booked for Wednesday and now we have 11 viewings before saturday! The market is absolutely crazy, we chose one of the big two agents in town, had a look and on their books they only have 3 x 3 bed houses for sale!! No wonder they were so quick!

They reckon we will exceed the asking price easily, its just scary how few houses there are for sale in the area! 

What is it like round your way?


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## chrisd (Oct 20, 2015)

The shame for me is that I live in a village with 2 excellent primary schools and there's hardly a house that has any school aged children in the village


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## CliveW (Oct 20, 2015)

Plenty of property for sale and would sell easily if the banks would release their stranglehold on the mortgage market and allow short term bridging.


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## Doon frae Troon (Oct 20, 2015)

Flat as a pancake here in my rural neck of South Ayrshire for the last 5 years.
Very few houses on the market.

Lots of new houses being built in Ayr. They span all the price bands and seem to be selling well.


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## Hobbit (Oct 20, 2015)

Market is flat, prices are dropping... closing the steel works has killed it!

Cheap housing, cheap cars - "reluctant sale due to redundancy..."


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## Lord Tyrion (Oct 20, 2015)

Lots of houses around and prices are the same as they were 7 years ago. I can be that accurate as that is when we moved last and pricing is the same, just recovered after the drop but not shooting away. A good spread of sizes and values, no problem finding something to suit your pocket. Lots of new, and largely unwelcome, building going on. Not sure how well it will all sell as there are plenty of existing house on the market. Any boom is not happening in the NE.


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## Rooter (Oct 20, 2015)

So a brief snapshot says the south is really struggling with supply and the north is fairly stagnant..


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## pbrown7582 (Oct 20, 2015)

Rooter said:



			So a brief snapshot says the south is really struggling with supply and the north is fairly stagnant..
		
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its quite localised some areas are buoyant even up this way houses are going as quick as they are on the market but some areas are really struggling, and all the steel redundancies are only going to make things worse in those areas.


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## SwingsitlikeHogan (Oct 20, 2015)

pbrown7582 said:



			its quite localised some areas are buoyant even up this way houses are going as quick as they are on the market but some areas are really struggling, and all the steel redundancies are only going to make things worse in those areas.
		
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Generally housing in Surrey/Hants borders is on the continual up due to folks moving out of London.  Where we are houses are highly 'prized' by young couples either who wish to start to a family or having just started one (location, location, location could not be truer). But there are only a few roads (maybe half doz) in the 'favoured' location where we are - and so few houses for sale at any one time (none in our road at the moment).  Not surprisingly we are continually targeted by all the estate agents in town.  

The changes to the stamp duty - specifically the removal of the step change at Â£500,000 - means that although at that price stamp duty old and new is the same - the psychological barrier has gone and houses that were in the Â£475k-Â£500k bracket seem to be jumping into the Â£510k-Â£535k bracket.  And once there there is nothing to stop them climbing further.


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## Ethan (Oct 20, 2015)

House prices pretty buoyant round Wokingham too, a few houses in our road have sold recently for good money, up from 6 or 7 years ago. Estate agents leafleting looking for sellers.


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## jdpjamesp (Oct 20, 2015)

Rooter said:



			What is it like round your way?
		
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Unfortunately there's always 4 or 5 houses for sale on my street meaning prices have stagnated since we bought 5 years ago.


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## ADB (Oct 20, 2015)

Where I live the common problem is the lack of affordable family homes I.e semi or detached 4 bedder with drive/garden. It means smaller cottages are being extended as families with growing numbers need more space, but this also perpetuates the affordability gap lower down the chain.

You definitely need upwards of Â£700k to get a nice 4 bed detached place in my village, many of which are owned by retired couples who can't believe their luck!


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## daverollo (Oct 20, 2015)

Rooter said:



			What is it like round your way?
		
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Glasgow West End and other parts (not all) of Glasgow been pretty good these last 18 months, distinct lack of stock at the moment, certainly plenty of folk looking.



CliveW said:



			Plenty of property for sale and would sell easily if the banks would release their stranglehold on the mortgage market and allow short term bridging.
		
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I take it you mean in Perthshire/Stirling?  No issues in the mortgage market at the moment, plenty of great deals available all the way up to 90% loan to value and even some at 95% loan to value.

The real issue around bridging is the affordability and people being able to effectively pay for two properties.  In buoyant areas lenders don't have an issue, but if properties aren't selling lenders (and borrowers) should be nervous about how long they will have two properties for.  Plenty of ways around it, you just need to find a good broker.  Sounds more like the issue is the lack of people willing to move to the area, or take the plunge onto the property ladder in your area.


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## SwingsitlikeHogan (Oct 20, 2015)

jdpjamesp said:



			Unfortunately there's always 4 or 5 houses for sale on my street meaning prices have stagnated since we bought 5 years ago.
		
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where are you?


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## jdpjamesp (Oct 20, 2015)

SwingsitlikeHogan said:



			where are you?
		
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Lancaster


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## SwingsitlikeHogan (Oct 20, 2015)

ADB said:



			Where I live the common problem is the lack of affordable family homes I.e semi or detached 4 bedder with drive/garden. It means smaller cottages are being extended as families with growing numbers need more space, but this also perpetuates the affordability gap lower down the chain.

You definitely need upwards of Â£700k to get a nice 4 bed detached place in my village, many of which are *owned by retired couples who can't believe their luck!*

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Well - not much use to them unless they move - which I'm guessing most won't.  But 'lucky' family when mum and dad are dearly departed.


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## SwingsitlikeHogan (Oct 20, 2015)

jdpjamesp said:



			Lancaster
		
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Have quite fancied the idea of Lancaster in the past - it's location between North and South of the UK (yes lot's of folk will think Lancaster is up north, but of course it's not - yet)

I'd have thought the huge expansion of the Uni would have brought lots of buy-to-letters in.  But there does also seem to be a huge development of 'on campus' halls that you can see from the M6 - so maybe not so much impact on town as you might expect.


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## SwingsitlikeHogan (Oct 20, 2015)

daverollo said:



			Glasgow West End and other parts (not all) of Glasgow been pretty good these last 18 months, distinct lack of stock at the moment, certainly plenty of folk looking.



I take it you mean in Perthshire/Stirling?  No issues in the mortgage market at the moment, plenty of great deals available all the way up to 90% loan to value and even some at 95% loan to value.

The real issue around bridging is the affordability and people being able to effectively pay for two properties.  In buoyant areas lenders don't have an issue, but if properties aren't selling lenders (and borrowers) should be nervous about how long they will have two properties for.  Plenty of ways around it, you just need to find a good broker.  Sounds more like the issue is the lack of people willing to move to the area, or take the plunge onto the property ladder in your area.
		
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Quite fancying a move to Blairgowrie in a few years time


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## la_lucha (Oct 20, 2015)

Just the same in my street, 24 houses. 3 have been sold in the last 10 years. We bought ours last year and went to view it before the sellers had signed the documents to sell with the agents. They didn't get chance to get a sign up before we moved in. One went on the market about 4 weeks ago and the new people moved in at the weekend. 

When we were looking there was a real shortage of decent 3 bed homes so we jumped on ours as soon as it came up.


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## Rooter (Oct 20, 2015)

la_lucha said:



			When we were looking there was a real shortage of decent 3 bed homes so we jumped on ours as soon as it came up.
		
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Can i ask if you paid the asking price? dont care about the actual pound number!


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## Paul77 (Oct 20, 2015)

It's a buyers market where we are. We bought ours two years ago for 20k below what it's worth now. Our next door neighbour bought hers for 15k more than it's worth now. Thinking of shifting while it's low to take in that 20k and upgrade to something bigger.


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## jdpjamesp (Oct 20, 2015)

SwingsitlikeHogan said:



			Have quite fancied the idea of Lancaster in the past - it's location between North and South of the UK (yes lot's of folk will think Lancaster is up north, but of course it's not - yet)

I'd have thought the huge expansion of the Uni would have brought lots of buy-to-letters in.  But there does also seem to be a huge development of 'on campus' halls that you can see from the M6 - so maybe not so much impact on town as you might expect.
		
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The council is approving Uni accomodation in town without so much as a second question asked meaning that buy to let is actually struggling. A major student lets company has just been declared bankrupt. 

I do love Lancaster. Really good connectivity both by road and rail. On the whole decent people and some very affordable houses in nice areas. I live on the "other side" of the river and our 3 bed semi with good sized garden was less than Â£150k. Traffic is a nightmare but there's a major bypass being built meaning we get a second Lune crossing which will make a big difference. 

Golf-wise, Lancaster is a very good club, but quite pricey. Morecambe is a good club but a lot of people criticise the lack of a par 5 hole. Heysham is a nice club too I believe, and they've just been awarded lottery funding to make it accessible. Then there's Lansil (9 holes) which isn't great and Ashton Golf Centre (9 hole pay and play) where I play most regularly. Really good facilities for a pay and play in my opinion. 
Further afield there's Silverdale, and of course Preston and then the northern end of the golf coast. And if you want views there's Windermere less than an hour away.


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## Lord Tyrion (Oct 20, 2015)

Rooter said:



			So a brief snapshot says the south is really struggling with supply and the north is fairly stagnant..
		
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I think that is a fair quote. Some pockets of growth but otherwise generally flat. I saw an amazing piece on Oxford yesterday which showed how tough things are in that city if you want to buy. Nothing like that up here. Great whilst you want to live here, less of a pension pot if you want to sell and downsize. Personally I would rather have our situation than the madness of the south but I can see the benefits if you are on the ladder.


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## la_lucha (Oct 20, 2015)

Rooter said:



			Can i ask if you paid the asking price? dont care about the actual pound number!
		
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Yes we knew we wouldn't get it if we offered less (it was a good price anyway). The sellers did try to get another interested party to pay more but they wouldn't thankfully.

With reference to the above post, I'm in the midlands.


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## Piece (Oct 20, 2015)

It's always been OK where am I, even in the roughish years a few years back. Now it's a bit more buoyant with several houses going quickly for more money than they were 12 months ago.


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## Doon frae Troon (Oct 20, 2015)

SwingsitlikeHogan said:



			Quite fancying a move to Blairgowrie in a few years time
		
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Have you thought of Penrith ?
My Mrs and I agree that it would be the only town we would ever consider in England.
If it were not for our family we would be off to Mull or Bute in two shakes.

Isn't Blairgowerie full of Eastern European berry pickers.


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## fundy (Oct 20, 2015)

Market is very buoyant in MK but people are in the main price sensitive. Anything well priced sells in hours or days, anything overpriced can sit on the market if vendors arent prepared to be realistic. Supply is better than most places I expect as relatively high numbers of new build coming to market (and that will increase more next year) but demand is still as high if not higher (mainly through local job creation and it being used as a place to commute to London from)

Rental mkt is even worse, huge lack of supply means anything half decent lets at asking price within 48 hours with people queueing up to view and rent (quite a few are even offering to rent places without seeing them first!)


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## patricks148 (Oct 20, 2015)

OK here , looking to downsize as the House is just way to big for just the two of us now.


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## SwingsitlikeHogan (Oct 20, 2015)

Doon frae Troon said:



			Have you thought of Penrith ?
My Mrs and I agree that it would be the only town we would ever consider in England.
If it were not for our family we would be off to Mull or Bute in two shakes.

Isn't Blairgowerie full of Eastern European berry pickers.

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Yes - we've thought of Penrith but we popped in one evening for something to eat on the way up to Glasgow and for some reason my wife didn't take to it.  Don;t know why - I thought the 'square' in the town centre was really nice.  Bit small I think was her concern and too far from a John Lewis (she was only half joking)


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## HomerJSimpson (Oct 20, 2015)

Next door have just renegotiated after their initial two year fixed term on their new house ended. Apparently our house prices are up by approximately 28-33% in two years according to the Nationwide and several estate agents


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## Break90 (Oct 20, 2015)

Just waiting to exchange contracts, we're going from a 3 bed semi to a much bigger 4 bed detached, in a town just east of Cambridge.

Had around a dozen viewings in a fortnight, ended up with two interested parties and accepted just below the very inflated asking price.

That was 6 weeks ago, searches are taking that long due to the volume of sales in the area at the moment.

Cambridge market and prices are absolutely bonkers, so the towns within commuting reach of Cambridge are reaping the benefit


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## SwingsitlikeHogan (Oct 20, 2015)

jdpjamesp said:



			The council is approving Uni accomodation in town without so much as a second question asked meaning that buy to let is actually struggling. A major student lets company has just been declared bankrupt. 

I do love Lancaster. Really good connectivity both by road and rail. On the whole decent people and some very affordable houses in nice areas. I live on the "other side" of the river and our 3 bed semi with good sized garden was less than Â£150k. Traffic is a nightmare but there's a major bypass being built meaning we get a second Lune crossing which will make a big difference. 

Golf-wise, Lancaster is a very good club, but quite pricey. Morecambe is a good club but a lot of people criticise the lack of a par 5 hole. Heysham is a nice club too I believe, and they've just been awarded lottery funding to make it accessible. Then there's Lansil (9 holes) which isn't great and Ashton Golf Centre (9 hole pay and play) where I play most regularly. Really good facilities for a pay and play in my opinion. 
Further afield there's Silverdale, and of course Preston and then the northern end of the golf coast. And if you want views there's Windermere less than an hour away.
		
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Many thanks for the guidance - useful to tuck away for future reference


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## lex! (Oct 21, 2015)

Scottish Borders is utterly stagnant. Prices are dropping and no one moving in, other than the occasional retiree from the South.


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## Dando (Oct 21, 2015)

I sold my old house within 3 hours of it going on the market in 2013 at full asking price then had my first offer accepted on the "new" place the next day. in 2 years my house value has gone up by Â£80Kish so I wouldn't be able to afford to live where I do if I wanted to move now and with Crossrail going into Abbey Wood the prices are only going to go up


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## SwingsitlikeHogan (Oct 21, 2015)

lex! said:



			Scottish Borders is utterly stagnant. Prices are dropping and no one moving in, other than the occasional retiree from the South.
		
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Won't the new Borders Railway stimulate the market in places such as Galashiels?  And given access to Edinbuergh me and my Mrs might soon be one of the retirees (or more likely not to long to be retiree)


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## MegaSteve (Oct 21, 2015)

A friend that sold his house earlier this year had a figure of 375 in mind...
Estate agent said 400 and having an open day was the way to go...
Friend got 440... Madness...

Can't actually see an end to it here in outer suburbia...


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## Doon frae Troon (Oct 21, 2015)

The railway has been a massive success [so far]. http://www.scotlandnow.dailyrecord.co.uk/news/borders-railway-soaraway-success-after-6584269
It should open up that area to Edinburgh workers.


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## lex! (Oct 21, 2015)

SwingsitlikeHogan said:



			Won't the new Borders Railway stimulate the market in places such as Galashiels?  And given access to Edinbuergh me and my Mrs might soon be one of the retirees (or more likely not to long to be retiree)
		
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Sure hope so! Mind you, ever been to Gala?! I know a of lovely bungalow in Hawick that's for sale, by the way, would suit you down to the ground.


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## Doon frae Troon (Oct 21, 2015)

lex! said:



			Sure hope so! Mind you, ever been to Gala?! I know a of lovely bungalow in Hawick that's for sale, by the way, would suit you down to the ground.
		
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Not a bungalow like this one I hope......now that's http://www.zoopla.co.uk/for-sale/de...862c5f779e5ed1d#PJVv44UaYoWtVYQY.97stretching estate agents jargon.


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## lex! (Oct 21, 2015)

Another impressive unused building. Shame the area is so depressed.


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## Lord Tyrion (Oct 21, 2015)

lex! said:



			Scottish Borders is utterly stagnant. Prices are dropping and no one moving in, other than the occasional retiree from the South.
		
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One of the boom areas up here is a village on the coast called Alnmouth. Lovely little place but key to it is it is on the East Coast mainline. Some people live there and commute to Newcastle, others come up from the south on holiday and then decide to retire as you describe. Sell your million pound semi in London / SE and buy a 5 bedroom detached with garden, views over the river, out to sea etc for half that. Pocket the rest. Being on a train line, not literally, can make a heck of a difference.


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## Rooter (Oct 21, 2015)

First viewer of my house made an offer this morning 15 minutes after the viewing! Over asking price and I have another 14 people to view it over the next few days. It's proper crazy here!


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## la_lucha (Oct 21, 2015)

Rooter said:



			First viewer of my house made an offer this morning 15 minutes after the viewing! Over asking price and I have another 14 people to view it over the next few days. It's proper crazy here!
		
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Great isn't it. I presume you're going to let a few more view in the knowledge that you have a good offer already?


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## MegaSteve (Oct 21, 2015)

Rooter said:



			First viewer of my house made an offer this morning 15 minutes after the viewing! Over asking price and I have another 14 people to view it over the next few days. It's proper crazy here!
		
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Believe that's why my mate went the 'open day' route...
All done and dusted, more or less, in one hit... He had 18 view on same day...
His better half had baked bread in the morning and coffee was on the go all day long...
Giving house the right homely feel...
Plus, also, fresh fruit in the bowl and lots of fresh cut flowers...


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## Smiffy (Oct 21, 2015)

We've just had a new M&S built in Bexhill.
This, along with the new Hastings bypass due to open soon will see property prices spiral out of control.
Lots of people want to live in this "above ground cemetery"....


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## patricks148 (Oct 21, 2015)

SwingsitlikeHogan said:



			Won't the new Borders Railway stimulate the market in places such as Galashiels?  And given access to Edinbuergh me and my Mrs might soon be one of the retirees (or more likely not to long to be retiree)
		
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we thought about moving to Kelso a while ago, as the wife had been offered a job back in Edinburgh. it was lovely with some really nice properties. 

would consider it again, was a trek to a links course though


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## Rooter (Oct 21, 2015)

la_lucha said:



			Great isn't it. I presume you're going to let a few more view in the knowledge that you have a good offer already?
		
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Of course!!!


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## fundy (Oct 21, 2015)

Rooter said:



			First viewer of my house made an offer this morning 15 minutes after the viewing! Over asking price and I have another 14 people to view it over the next few days. It's proper crazy here!
		
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you found somewhere to buy? dont forget youre on the other side of the fence there!


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## Doon frae Troon (Oct 21, 2015)

fundy said:



			you found somewhere to buy? dont forget youre on the other side of the fence there!
		
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Nice one:lol:


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## Rooter (Oct 21, 2015)

fundy said:



			you found somewhere to buy? dont forget youre on the other side of the fence there!
		
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True but the demand for what we want is not as high as a bog standard 3 bed, so we are almost in a win win situation.

We have found somewhere, just waiting on finalised mortgage numbers before making our offer.


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## Tashyboy (Oct 21, 2015)

Listening to Radio 2 ? Jeremy Vine.

a guy on there said he hoped Pensioners in big houses would sell up and downsize. So people with families could buy them. Also they could pay with there excess money a fee because they had free university education.


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## Rooter (Oct 21, 2015)

So today just to show how mental the market is here, we had 7 viewings. 6 made offers of asking price or above after they were all advised it would go to sealed bids next week due to popularity. I am flabbergasted! It's mental! 7 more viewings booked in for Friday and Saturday too!


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## SwingsitlikeHogan (Oct 22, 2015)

Rooter said:



			So today just to show how mental the market is here, we had 7 viewings. 6 made offers of asking price or above after they were all advised it would go to sealed bids next week due to popularity. I am flabbergasted! It's mental! 7 more viewings booked in for Friday and Saturday too!
		
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Amazing how many folks down here have Â£650k to fling at a house


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## Crazyface (Oct 23, 2015)

Break90 said:



			Just waiting to exchange contracts, we're going from a 3 bed semi to a much bigger 4 bed detached, in a town just east of Cambridge.

Had around a dozen viewings in a fortnight, ended up with two interested parties and accepted just below the very inflated asking price.

That was 6 weeks ago, searches are taking that long due to the volume of sales in the area at the moment.

Cambridge market and prices are absolutely bonkers, so the towns within commuting reach of Cambridge are reaping the benefit
		
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Getting a boost from all the science bods that must be flooding in to the area with Astra Zeneca putting down roots there.


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## BrianM (Sep 22, 2016)

Sorry to revive this thread, my house has been on the market a week and we've had loads of viewings, one offer and notes of interest in, got someone coming back for a second viewing today as well.
Didn't think it would be as buoyant with viewings.
It's torture keeping it like a show home with a 5 year old &#128514;&#128514;


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## Rooter (Sep 22, 2016)

BrianM said:



			It's torture keeping it like a show home with a 5 year old &#128514;&#128514;
		
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You should have tried doing it with an 8, 6, 3 and 1 year old then! It was hell!! Worth it though, first impressions count and while i can see past mess etc, a lot of people cant!!

Good luck with the sale Brian!


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## jp5 (Sep 22, 2016)

Not gonna be pretty when the bubble pops that's for sure!


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## Rooter (Sep 22, 2016)

jp5 said:



			Not gonna be pretty when the bubble pops that's for sure!
		
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IF the bubble pops.. i honestly cant see it. a dip maybe, but not a pop. (i am no economist!)


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## jp5 (Sep 22, 2016)

And very few people foresaw the 2008 crash!

Property prices at 10x average salary, or greater in the south-east/London, isn't healthy for a country.

Perhaps they won't crash but we'll end up with the Government having to pay 30 years of rent for today's youngsters as they hit retirement without any property to live in.

Either way something will give at some point.


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## chrisd (Sep 22, 2016)

jp5 said:



			And very few people foresaw the 2008 crash!

Property prices at 10x average salary, or greater in the south-east/London, isn't healthy for a country.

Perhaps they won't crash but we'll end up with the Government having to pay 30 years of rent for today's youngsters as they hit retirement without any property to live in.

Either way something will give at some point.
		
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Or they will finally build the million or so houses that are needed, and then supply and demand will ease house prices downwards


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## BrianM (Sep 22, 2016)

Rooter said:



			You should have tried doing it with an 8, 6, 3 and 1 year old then! It was hell!! Worth it though, first impressions count and while i can see past mess etc, a lot of people cant!!

Good luck with the sale Brian!
		
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Fair play, I couldn't imagine it with 4 &#128556;&#128512;
Your right about people not seeing past the mess etc, unless it's immaculate they won't entertain it.


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## patricks148 (Sep 22, 2016)

BrianM said:



			Sorry to revive this thread, my house has been on the market a week and we've had loads of viewings, one offer and notes of interest in, got someone coming back for a second viewing today as well.
Didn't think it would be as buoyant with viewings.
It's torture keeping it like a show home with a 5 year old &#128514;&#128514;
		
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You are doing quite well then, there are quite a few houses in near us for sale and they been on the market a while.  Big old houses though.


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## BrianM (Sep 22, 2016)

patricks148 said:



			You are doing quite well then, there are quite a few houses in near us for sale and they been on the market a while.  Big old houses though.
		
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Mine is an old house as well, big enough 4 bed.
Everyone who has seen it has said it will sell quickly, so hopefully it will &#128556;&#128512;


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## patricks148 (Sep 22, 2016)

BrianM said:



			Mine is an old house as well, big enough 4 bed.
Everyone who has seen it has said it will sell quickly, so hopefully it will &#128556;&#128512;
		
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where are you moving too, out of town?


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## BrianM (Sep 22, 2016)

patricks148 said:



			where are you moving too, out of town?
		
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No, new build at westercraigs, goes totally against the grain for me as I love old houses and the character, but it will be more family orientated, so the wife tells me anyway &#128556;&#128514;&#128514;


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## patricks148 (Sep 22, 2016)

BrianM said:



			No, new build at westercraigs, goes totally against the grain for me as I love old houses and the character, but it will be more family orientated, so the wife tells me anyway &#128556;&#128514;&#128514;
		
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be warned. 

a few of the people from the Wife's Work (SNH) live in the first phase of the Robertsons Builds and all have issues still awaiting correction. None of them are happy.

cracks, doors/ windows not fitted properly and won't open/close.


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## FairwayDodger (Sep 22, 2016)

My flat goes on the market next week and we're starting to look for a house in Edinburgh. Real scary money required though, very depressing to see what we could get for the same money over in the west!


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## stokie_93 (Sep 22, 2016)

Slowly but surely getting the ludicrous amount of money required to afford a deposit saved up. Missus finishes Uni in May so going to start looking soon-ish!


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## NWJocko (Sep 22, 2016)

FairwayDodger said:



			My flat goes on the market next week and we're starting to look for a house in Edinburgh. Real scary money required though, very depressing to see what we could get for the same money over in the west!
		
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If you've got you're priorities straight you'd be looking in Gullane or NB down the coast 

Edinburgh is scary now, if only I could have afforded to keep my flat when I left all those years ago I'd be laughing......  

Good luck with the sale and house hunting :thup:


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## the smiling assassin (Sep 22, 2016)

gullane/n.b. aren't exactly much cheaper than edinburgh though!!


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## Hobbit (Sep 22, 2016)

FairwayDodger said:



			My flat goes on the market next week and we're starting to look for a house in Edinburgh. Real scary money required though, very depressing to see what we could get for the same money over in the west!
		
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Can't believe the pricing up here!

That said, we've just bought a 3 bed villa fully furnished and access to a communal pool for Â£60k. It might be in another country though...


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## FairwayDodger (Sep 22, 2016)

NWJocko said:



			If you've got you're priorities straight you'd be looking in Gullane or NB down the coast 

Edinburgh is scary now, if only I could have afforded to keep my flat when I left all those years ago I'd be laughing......  

Good luck with the sale and house hunting :thup:
		
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I've been pushing the NB option but Mrs FD is unconvinced. She's seen right through the plan, to be honest. 

Only marginally cheaper than Edinburgh too.


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## IanG (Sep 22, 2016)

FairwayDodger said:



			I've been pushing the NB option but Mrs FD is unconvinced. She's seen right through the plan, to be honest. 

Only marginally cheaper than Edinburgh too.
		
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Take her for a nice bottle of wine at Herringbone or a romantic Italian at Osteria and maybe she'll be convinced. It's a great place to live, everything within walking distance and a short train ride to Edinburgh city centre  when you need it.


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## FairwayDodger (Sep 22, 2016)

IanG said:



			Take her for a nice bottle of wine at Herringbone or a romantic Italian at Osteria and maybe she'll be convinced. It's a great place to live, everything within walking distance and a short train ride to Edinburgh city centre  when you need it.
		
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The problem is that the train ride to Edinburgh would be every day. I haven't given up but it's on the back burner until we see if we can get something suitable in town.


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## NWJocko (Sep 22, 2016)

the smiling assassin said:



			gullane/n.b. aren't exactly much cheaper than edinburgh though!!
		
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No, but the golf on the doorstep is worth it


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## FairwayDodger (Sep 22, 2016)

NWJocko said:



			Edinburgh is scary now, if only I could have afforded to keep my flat when I left all those years ago I'd be laughing......
		
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I found the schedule from when I bought the flat about 14 years ago. I couldn't believe how much it cost but we're now looking for about 2.5 times what the asking price was back then. Sounds great but it will all just get eaten up by the cost of the new place.

Stamp duty up here is also insane thanks to the SNP. I reckon the stamp duty we pay will be almost as much as my first flat cost to buy. :angry:


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## BrianM (Sep 22, 2016)

patricks148 said:



			be warned. 

a few of the people from the Wife's Work (SNH) live in the first phase of the Robertsons Builds and all have issues still awaiting correction. None of them are happy.

cracks, doors/ windows not fitted properly and won't open/close.
		
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Yeah I know, I pulled out of buying one before buying my current house, they have new builders in for the phase I'm going to, I've got good contacts in the trade who will be going over it with a fine tooth comb &#128514;&#128514;


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## BrianM (Sep 22, 2016)

FairwayDodger said:



			My flat goes on the market next week and we're starting to look for a house in Edinburgh. Real scary money required though, very depressing to see what we could get for the same money over in the west!
		
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It's always the same, location location location.
My preferred area costs a lot more so have to make do for now, try and save some more.
Surely you wouldn't lose money if you decided to sell later on, Edinburgh is a great city, good luck with the search.


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## Doon frae Troon (Sep 23, 2016)

Karen, have you considered Longniddry.
Nice golf course, rail links, decent pub. A bit nearer Edinburgh.


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## FairwayDodger (Sep 23, 2016)

Doon frae Troon said:



			Karen, have you considered Longniddry.
Nice golf course, rail links, decent pub. A bit nearer Edinburgh.
		
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Yes we did discuss it. I also like aberlady but it's not as convenient for the train. I think east Lothian is all but ruled out now. We're seeing lots of good possibilities in Edinburgh... Just pricey!


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## Paperboy (Sep 23, 2016)

I've just had a mortgage agreed in principle, so I'll be going to see a few 1 or 2 bed flats in my price range.

Just wondering if this almost makes me a responsible adult now


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## SwingsitlikeHogan (Sep 23, 2016)

FairwayDodger said:



			I found the schedule from when I bought the flat about 14 years ago. I couldn't believe how much it cost but we're now looking for about 2.5 times what the asking price was back then. Sounds great but it will all just get eaten up by the cost of the new place.

*Stamp duty up here is also insane thanks to the SNP. I reckon the stamp duty we pay will be almost as much as my first flat cost to buy*. :angry:
		
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Really?  Up to Â£335,000 Scottish Land Tax is less than that paid in England.  And you can get a lot of property for less than Â£335,000 in Scotland.


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## FairwayDodger (Sep 23, 2016)

SwingsitlikeHogan said:



			Really?  Up to Â£335,000 Scottish Land Tax is less than that paid in England.  And you can get a lot of property for less than Â£335,000 in Scotland.
		
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Yes really. You don't get a decent house in Edinburgh for that.


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## SwingsitlikeHogan (Sep 23, 2016)

FairwayDodger said:



			Yes really. You don't get a decent house in Edinburgh for that.
		
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But with Edinburgh you are talking the prime location in Scotland - so of course house prices will be more - and you pay more Land Tax.  You'll get diddly squat, in respect of even a vaguely decent house in a goodish area, for Â£335,000 down here in Surrey.  And I would earn exactly the same living in Scotland as I do living in Surrey.


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## FairwayDodger (Sep 23, 2016)

SwingsitlikeHogan said:



			But with Edinburgh you are talking the prime location in Scotland - so of course house prices will be more - and you pay more Land Tax.  You'll get diddly squat, in respect of even a vaguely decent house in a goodish area, for Â£335,000 down here in Surrey.  And I would earn exactly the same living in Scotland as I do living in Surrey.
		
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I'm not sure of your point. Mine was that, at the likely purchase price, I expect to pay Â£thousands more in stamp duty than I would anywhere in England, prime location or not.


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## SwingsitlikeHogan (Sep 23, 2016)

FairwayDodger said:



			I'm not sure of your point. Mine was that, at the likely purchase price, I expect to pay Â£thousands more in stamp duty than I would anywhere in England, prime location or not.
		
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My point is simply that down here at your price point you wouldn't get anything like you are looking for in any location vaguely as attractive as Edinburgh.  Your money goes a lot further in Scotland than it does in down south and even adding a few thousands (and it is not that many thousands I hazard a guess) does not balance out the many tens of thousands you'd have to pay for equivalent property in equivalent location down here.  

And its not as if I get paid more for living down here.  I get paid the same as I would if I lived in Edinburgh - but I could buy a much nicer place in Edinburgh than I have down here.  In many ways you are rather fortunate with Scottish house prices - despite having to pay a bit more in Land Tax.  And I don't think it is such a bad thing that the SNP government has made Land Tax lower in Scotland than in England for houses under Â£335,000 (as that is the vast majority).

That said - at Â£600,000 you'd pay Â£33,350 - in England you'd pay Â£20,000 - which I grant you is quite a whack of a difference.


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## FairwayDodger (Sep 23, 2016)

SwingsitlikeHogan said:



			That said - at Â£600,000 you'd pay Â£33,350 - in England you'd pay Â£20,000 - which I grant you is quite a whack of a difference.
		
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Which was the entirety of my point. House prices are what they are due to market forces. Tough luck if you're trying to buy in Edinburgh or Surrey or whatever.


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## FairwayDodger (Sep 29, 2016)

Updating this, my flat has gone on the market today. Absolutely bonkers valuation so will be interesting to see how much interest it gets!


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## NWJocko (Sep 29, 2016)

FairwayDodger said:



			Updating this, my flat has gone on the market today. Absolutely bonkers valuation so will be interesting to see how much interest it gets!
		
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Is it still "offers over" system in Scotland or more fixed/guide price these days?

Good luck! :thup:


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## FairwayDodger (Sep 29, 2016)

NWJocko said:



			Is it still "offers over" system in Scotland or more fixed/guide price these days?

Good luck! :thup:
		
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Offers over! Fingers crossed...


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## Paperboy (Sep 29, 2016)

Good luck Karen.

I was going to look at a  flat tomorrow, but it's been sold already. Fingers crossed the flat I'm going to look at on Monday doesn't sell before then :O


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## BrianM (Sep 29, 2016)

FairwayDodger said:



			Updating this, my flat has gone on the market today. Absolutely bonkers valuation so will be interesting to see how much interest it gets!
		
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Good luck &#128512;
I've had an offer of asking price, but holding out for the moment, got viewers from Glasgow and Essex coming up for a look, was not expecting that.


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## Farmergeddon (Sep 30, 2016)

Not much is moving here in N Yorks, had our house up for sale since January and had just 5 viewings, one said they wanted it but couldnt get a mortgage..


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## ScienceBoy (Sep 30, 2016)

Just buying our first place in Cambridge. 

Not really bought much and spent a lot doing so.

At least we are out the ladder and out of the renting spiral.

We decided not to go for the out of town route as it would seriously impact our day to day lives. The time gained from living in Cambridge massively outweighs the extra cost.


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## Deleted Member 1156 (Sep 30, 2016)

NWJocko said:



			No, but the golf on the doorstep is worth it 

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Yeah and you'll be able to join Muirfield after they have the revised vote!!  :thup:


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## IanM (Sep 30, 2016)

ScienceBoy said:



			Just buying our first place in Cambridge. 

Not really bought much and spent a lot doing so.

At least we are out the ladder and out of the renting spiral.

We decided not to go for the out of town route as it would seriously impact our day to day lives. The time gained from living in Cambridge massively outweighs the extra cost.
		
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Always a difficult jump... a guy in our office doing similar right now was moaning how much easier it was when the oldies (i.e. me!) bought their houses as they were so cheap... he changed his tune when I said the interest rate was nudging 15% !   Also, regional differences are huge, grew up in Guildford, first house was............in Swindon!  When I bought my second house (in 1990) near Cirencester, a 3 bed semi, my made in Guildford paid the same money for a one bed flat.  Ouch


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## jp5 (Sep 30, 2016)

Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.


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## londonlewis (Sep 30, 2016)

Currently selling a house in Surrey and looking to buy in Cambridgeshire (Ely). 
We've had multiple viewings, have a second viewing tomorrow and only had our house on the market for 1.5 weeks. Hopefully the one tomorrow goes well. 

Ely - houses stay on the market for longer over there so I hope that people will consider offers up to 10% under the asking price.


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## ScienceBoy (Sep 30, 2016)

A 7 bed Victorian house in Grimsby is cheaper than the smallest new build 2 bed house in Cambridge.

I'm buying the pokey 2 bed...


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## Deleted member 18588 (Sep 30, 2016)

jp5 said:



			Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.
		
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Perhaps, due to my advancing years my memory is failing me but I am struggling to remember when I managed to buy a house the purchase price of which was only 2.5 x earnings.

In the early 90's, when interest rates were at their peak 3 bed semis were being sold for asking prices of around 6 x average earnings.


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## SwingsitlikeHogan (Oct 1, 2016)

Bought my first property in 1985 when I was 26 - first proper job.  Small two bed flat in best part of central Bristol.   

Was earning about Â£9k at the time,  the flat cost me Â£35,000.  Put down 5% deposit of Â£1750 and 3.5x multiplier bang on for mortgage.  

Current Zoopla estimate for it is Â£273,000. 5% deposit would be about Â£14,000.  But that would leave me needing a mortgage of Â£259,000.  Even with a 5x multiplier I'd have to be earning Â£52,000 a year.  First job at 26yrs earning Â£50k+?  I don't think so.  Madness.


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## harpo_72 (Oct 1, 2016)

SwingsitlikeHogan said:



			Bought my first property in 1985 when I was 26 - first proper job.  Small two bed flat in best part of central Bristol.   

Was earning about Â£9k at the time,  the flat cost me Â£35,000.  Put down 5% deposit of Â£1750 and 3.5x multiplier bang on for mortgage.  

Current Zoopla estimate for it is Â£273,000. 5% deposit would be about Â£14,000.  But that would leave me needing a mortgage of Â£259,000.  Even with a 5x multiplier I'd have to be earning Â£52,000 a year.  First job at 26yrs earning Â£50k+?  I don't think so.  Madness.
		
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Explains why the young grads push for wage rises at my place. Problem is they aren't good enough to be paid more than their managers ! 
Was there ever a time in history where both partners had to work to make ends meet, like now? Your figures suggest that a couple on 26k each would possibly get a shoe in. Our grads start at 30k.


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## DRW (Oct 3, 2016)

jp5 said:



			Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.
		
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Completely agree. At least the person who has 15% interest has not just signed up for a lifeline time of debt as interest rates fell fairly quickly(when compared to a 25 year mortgage) and if you wished to you could then use that 'extra' money to pay off the mortgage early. With debt levels now so high at low interest rates, that is not an option. Stupid affordability test basis.

We borrowed at near the peak rates but then carried on paying the same mortgage payment as interest rates fell. We were lucky, people say 10 years younger than I were not so lucky.

Governments/banks sold our young persons souls to be debt slaves for a lifetime with debt levels so high. I have a good idea lets take house prices out of inflation measures without controlling lending in the big new world, banks and people know best and let house inflation run riot and reduce interest rates further to fuel asset prices further, shocking scandal IMHO, but I do seen to be a bit out of the limb over my thoughts on this.


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## philly169 (Oct 4, 2016)

ScienceBoy said:



			A 7 bed Victorian house in Grimsby is cheaper than the smallest new build 2 bed house in Cambridge.

I'm buying the pokey 2 bed...
		
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Where are you buying mate? I can't quite get my head around Cambridge prices, they just keep going up for little return!


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## IanM (Oct 4, 2016)

jp5 said:



			Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.
		
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Point taken... although with the lower wages it was still tough.... 3 x Joint bought us a 1 bed.  5k more was the price of  2 bed and we couldn't raise it!  AND the repayments were bad (as a proportion of income)


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## Paperboy (Oct 4, 2016)

Well I've had two viewings cancelled, with bids accepted on the day 

Looks like they have been for full price as well.


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## Deleted member 18588 (Oct 4, 2016)

jp5 said:



			Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.
		
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Just checked and the 1991 figure would require monthly repayments equal to 33% of gross average earnings.

In 2016 the repayments would be just less than 20%.

Interest payments only based upon a loan of 90% of 2.5 x earnings in '91 and 10 x earnings in 2016.


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## Deleted Member 1156 (Oct 4, 2016)

jp5 said:



			Would much rather buy a place at 2.5x earnings with 15% interest rate than 10x earnings with 2% interest rate.
		
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I wouldn't. If I have to pay 'X' amount per month for a property I would rather be paying towards the capital value of the property rather than interest on the loan. If you are going to pay a total of say Â£300k would you rather not pay Â£250k of property value and Â£50k of interest rather than Â£150k of property and Â£150k of interest?


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## CheltenhamHacker (Oct 4, 2016)

MetalMickie said:



			Just checked and the 1991 figure would require monthly repayments equal to 33% of gross average earnings.

In 2016 the repayments would be just less than 20%.

Interest payments only based upon a loan of 90% of 2.5 x earnings in '91 and 10 x earnings in 2016.
		
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Just wondering, why are you looking at the "interest payments only" surely you want to look at the full repayment amount, as in 2016 the loan is significantly more...


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## vkurup (Oct 4, 2016)

Spoke to an estate agent who came around to value our place... his view on the Woking (Surrey) market, you cant find a good 2-bed starter flat for 250K!!!!  .. Family is looking to buy a 3-bed house in part of Kent and will get change from 300K.. Surrey is impossible to get in.


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## Deleted member 18588 (Oct 4, 2016)

CheltenhamHacker said:



			Just wondering, why are you looking at the "interest payments only" surely you want to look at the full repayment amount, as in 2016 the loan is significantly more...
		
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Average earnings 1991 = Â£13407
Average houseprice      = Â£62500

Average earnings 2015 = Â£27456
Average houseprice      = Â£286000

Mortgage repayment costs based upon a loan of 90% of average price (Capital & Interest), Interest Rates 15% in 1991 and 3% in 2015

1991 = Â£721 which is 64.5% of gross average earnings
2015 = Â£1220 which is 53.3% of gross average earnings

Obviously these are rather crude calculations and make no allowance for factors such as regional variations but I think they show that the current situation is not relatively much different to other periods in our history.


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## Deleted Member 1156 (Oct 4, 2016)

MetalMickie said:



			Average earnings 1991 = Â£13407
Average houseprice      = Â£62500

Average earnings 2015 = Â£27456
Average houseprice      = Â£286000

Mortgage repayment costs based upon a loan of 90% of average price (Capital & Interest), Interest Rates 15% in 1991 and 3% in 2015

*1991 = Â£721 which is 64.5% of gross average earnings
2015 = Â£1220 which is 53.3% of gross average earnings*

Obviously these are rather crude calculations and make no allowance for factors such as regional variations but I think they show that the current situation is not relatively much different to other periods in our history.
		
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What I would point out though is that in 1991 the average mortgage was over 25 years, now they tend to be over longer periods such as 40 years.


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## DRW (Oct 4, 2016)

MetalMickie said:



			Average earnings 1991 = Â£13407
Average houseprice      = Â£62500

Average earnings 2015 = Â£27456
Average houseprice      = Â£286000

Mortgage repayment costs based upon a loan of 90% of average price (Capital & Interest), Interest Rates 15% in 1991 and 3% in 2015

1991 = Â£721 which is 64.5% of gross average earnings
2015 = Â£1220 which is 53.3% of gross average earnings

Obviously these are rather crude calculations and make no allowance for factors such as regional variations but I think they show that the current situation is not relatively much different to other periods in our history.
		
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As an example, I actually purchased our 1st house in 1991 for Â£65,000 and the mortgage was almost equal to my monthly net take home pay. Wierdly the figures you quote for 1991 are very similar to ours. I was only a trainee so on lowish wages tbh but bought a 3 bed semi -bungalow in Essex after leaving university (NB A similar couple could not buy that property now, that is another issue]

What you are not doing, is looking at the whole picture over the time of the mortgage and allowing for the massive drop in interest rates that did happen from the early 90s and therefore that % you quote was for a short period tbh. (yes I saw friend and family lose their homes, due to the recession and high interest rates, but that is another story)

The debt levels in 2015(multiple) are vastly greater than in 1991, so the stress and the pressure is far great over a far greater period for the people involved, as that percentage will remain almost static over 25 years.

For us the pain with high interest rates was really only for a short period(IIRC about 2 years), as they fairly quickly dropped. So that % you quote above was only a high risk % for a few years(even if my earnings had remain low). Currently that percentage for 2015 will remain a high risk percentage for 25 years.

For myself as an example, as interest rates dropped we continued paying the same monthly figure(as my earnings had increased due to qualifying) and we repaid that mortgage very quickly as a result(like within 10 years IIRC, we did pay alittle bit more as well, when funds alllowed). That would not happen nowdays and the 'couple' would be in a mortgage for 25 years and due to the high mortgage figure of per above of Â£286,000 and as a result they could default at any point during almost the whole term of the mortgage(25 years) and has to live with the stress of that.

I can see the massive difference between now and then, as my position would be really different, if my time was now and I would be a debt slave, rather than mortgage free. Think about it a bit deeper and my personal example and hopefully you will see what I mentioned in my previous post.

Hope that helps, even though the post is long


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## Deleted member 18588 (Oct 4, 2016)

Yes interest rates did drop but it took quite a while for them to get to their present levels.

In addition consideration should be given not just to those buying for the first time in 1991 but those who had already purchased and had based their budgets upon much lower interest rates. At least those who have purchased within recent times or are just about to are unlikely to see their budgets blown to pieces by soaring interest rates.

I am not unsympathetic to those who have more recently climbed upon the property ladder, merely pointing out that every generation has been faced with problems.


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## jp5 (Oct 4, 2016)

MetalMickie said:



			Obviously these are rather crude calculations and make no allowance for factors such as regional variations but I think they show that the current situation is not relatively much different to other periods in our history.
		
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Except at the moment we are at a historic low of interest rates, and you're saying that repayments now are similar to the peak of a crisis in the 90s.

As soon as interest rates start to creep up again I worry for anyone leveraged at 10x their earnings.


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## pendodave (Oct 4, 2016)

It's so much worse nowadays, you can do what you like with the stats, it doesn't change the actualite.

When I left uni in 1986, myself and all of my mates managed to buy houses or flats in various parts of the South East and London within a couple of years. Still managed to live reasonably well. No bank of mum and dad involved.

Nowadays that's impossible by a huge distance. Despite Lawson's boom, briefly mental interest rates and negative equity this generation still faces far a worse situation than mine. It's rubbish, and it's depressing to be impotent in the face of such a hugely destructive phenomenon.


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## Paperboy (Oct 4, 2016)

I can only get a mortgage for Â£122k, went to see a flat today. Dirty and needed work, up for a Â£129,950.

 Apparently a Â£123k offer refused, I would have gone no higher then Â£120k.

Looking at two more flats tomorrow


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## IanM (Oct 4, 2016)

vkurup said:



			Spoke to an estate agent who came around to value our place... his view on the Woking (Surrey) market, you cant find a good 2-bed starter flat for 250K!!!!  .. Family is looking to buy a 3-bed house in part of Kent and will get change from 300K.. Surrey is impossible to get in.
		
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Tell me about it!  Born and raised Guildford.... first three houses in Wiltshire.  Fourth and current house Monmouthshire.  Â£300k will get you good 4 bed detached in many areas... as for work....hmmm... Tebbitt's Bike required !!  I'm currently working in Southampton!


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## FairwayDodger (Dec 22, 2016)

Thought I'd update this. We've sold our flat so are on the clock to find somewhere to move to but really struggling to see anything suitable in areas we like that we can afford! Hoping more will come on the market after xmas but starting to get a bit stressed by the whole thing!


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## BrianM (Dec 23, 2016)

We sold and moved into our new house on Tuesday there.
I wish i could say it was stressful but i'm stuck offshore and my wife was left to deal with it.
Only down side is i've sold a lovely old victorian house and bought a new build, what was i thinking.


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## Doon frae Troon (Dec 23, 2016)

BrianM said:



			We sold and moved into our new house on Tuesday there.
I wish i could say it was stressful but i'm stuck offshore and my wife was left to deal with it.
Only down side is i've sold a lovely old victorian house and bought a new build, what was i thinking.
		
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Cheaper fuel bills
Less running repairs
No draughts
oo:


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## FairwayDodger (Dec 23, 2016)

BrianM said:



			We sold and moved into our new house on Tuesday there.
I wish i could say it was stressful but i'm stuck offshore and my wife was left to deal with it.
Only down side is i've sold a lovely old victorian house and bought a new build, what was i thinking.
		
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I'd quite like a new build but they're not in good locations unfortunately. All the old places we've viewed need months of work before we could move in...


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## Doon frae Troon (Dec 23, 2016)

Our area is very strange...prices going up quite quickly but very few houses selling.
Not many houses on the market.
Lots of extentions/improvements happening. Scaffold businesses must be doing well.


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## Paperboy (Dec 23, 2016)

I'm just waiting on searches and all the chain being ready to go. Hopefully in by February if I'm lucky.

The top of the chain are very keen to complete quickly.


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## ScienceBoy (Dec 23, 2016)

The only problem with selling is you have to buy too, unless you rent.

Throw in the stress of a move and it had to be life changing or significantly financially beneficial.

Having just done a house move I feel like I don't want to ever do it again!

So unless you don't like your house, if is too small or too big or moving would make you much better off why would you move?


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## FairwayDodger (Dec 23, 2016)

ScienceBoy said:



			The only problem with selling is you have to buy too, unless you rent.

Throw in the stress of a move and it had to be life changing or significantly financially beneficial.

Having just done a house move I feel like I don't want to ever do it again!

So unless you don't like your house, if is too small or too big or moving would make you much better off why would you move?
		
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I agree with the this! Part of my current stress is wanting to make sure we get it right because hopefully it's the last move!


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## vkurup (Dec 23, 2016)

House prices are mad down south... since we moved here 3 years ago, not many houses ever come up for sale in this area.  The house was very run down so spent a FORTUNE to repair it.. still some way to go..  but Zoopla tells me we are nearly into the mythical territory of seven digit paper valuation..  I am not complaining but it is bonkers..


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## DCB (Dec 23, 2016)

FairwayDodger said:



			I'd quite like a new build but they're not in good locations unfortunately. All the old places we've viewed need months of work before we could move in...
		
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And, too many people are being way to unrealistic of what they want for their property when selling, even if it does need re-wired, re-plumbed, insulated , new windows and roof repairs.  House prices here are back to their unrealistic worst again.


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## Deleted Member 1156 (Dec 23, 2016)

Paperboy said:



			I'm just waiting on searches and all the chain being ready to go. Hopefully in by February if I'm lucky.

The top of the chain are very keen to complete quickly.
		
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Nice one Simon, where and what have you bought?


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## IanM (Dec 23, 2016)

South East prices are so nuts, one contractor in our team has just sold a Victorian 3 bed terrace in St Albans and bought a "mansion" an hour from Edinburgh...  he was staying away in digs on the south coast during the week anyway... now he flies down ... massive increase in the quality of life when he's home, does Mon/Fri from home, reduced his mortgage...the funny bit is there difference in rail v air ticket isn't as much as you'd think..  

People in the office are seeing picture of his new house and land...and are thinking hard about doing similar!


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## FairwayDodger (Dec 23, 2016)

DCB said:



			And, too many people are being way to unrealistic of what they want for their property when selling, even if it does need re-wired, re-plumbed, insulated , new windows and roof repairs.  House prices here are back to their unrealistic worst again.
		
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Absolutely. We're looking at places costing bonkers money and trying to work out how much budget we'd need to make them liveable. Trouble is we know literally nothing about refurbishing a house so are quite wary of taking the plunge.


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## fundy (Dec 23, 2016)

ScienceBoy said:



			The only problem with selling is you have to buy too, unless you rent.

Throw in the stress of a move and it had to be life changing or significantly financially beneficial.

Having just done a house move I feel like I don't want to ever do it again!

*So unless you don't like your house, if is too small or too big or moving would make you much better off why would you move?*

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Boredom usually for us, we like to move around both in terms of houses and areas. Think the current one is number 13. Cant see us being in it any more than a year from when its finished, time for another area change


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## Paperboy (Dec 23, 2016)

drive4show said:



			Nice one Simon, where and what have you bought?  

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http://www.rightmove.co.uk/property-for-sale/property-58997114.html

Two bed flat not far from the General Hospital in Maybush. It's a pretty reasonable size as well.


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## SwingsitlikeHogan (Apr 12, 2017)

Well - my little two bedroom flat (the second bedroom is truly titchy) in Bristol has just been sold for Â£287k.

http://www.rightmove.co.uk/property-for-sale/property-46372977.html

As first time buyer I bought it in 1986 for Â£35,000.  I put down Â£3k - and as my salary was Â£9.5K I could get a mortgage for under a 3.5x multiple. Sold it for Â£47,500 in 1994 (I think).  

It is the perfect flat for a first time buyer with a decent first job (my job was my first post graduation) - but how does an ordinary recent graduate afford Â£287k?  If they somehow have a deposit of more than 10% - say Â£35k - they still have to find Â£250k!  Even with an income of Â£50k (not yer normal new graduate salary in most professions) that would require a 5x multiplier.

Daft.


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## londonlewis (Apr 12, 2017)

SwingsitlikeHogan said:



			Well - my little two bedroom flat (the second bedroom is truly titchy) in Bristol has just been sold for Â£287k.

http://www.rightmove.co.uk/property-for-sale/property-46372977.html

As first time buyer I bought it in 1986 for Â£35,000.  I put down Â£3k - and as my salary was Â£9.5K I could get a mortgage for under a 3.5x multiple. Sold it for Â£47,500 in 1994 (I think).  

It is the perfect flat for a first time buyer with a decent first job (my job was my first post graduation) - but how does an ordinary recent graduate afford Â£287k?  If they somehow have a deposit of more than 10% - say Â£35k - they still have to find Â£250k!  Even with an income of Â£50k (not yer normal new graduate salary in most professions) that would require a 5x multiplier.

Daft.
		
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cheers for sharing and highlighting a really big issue. 

I feel like I got on the property ladder at the right time. It was 2011, I was 28 years old and I bought a 3 bed terraced-house in Surrey for Â£270k. I bought it with my now-wife. We had saved a 20% deposit, borrowed Â£216k and were sensible with our money. 

We've just sold it. For Â£403k. 6 years later. To first time buyers. I don't know how big their deposit was but assuming 10% (they've borrowed Â£360k), assuming 20% (they've borrowed Â£320k). For a first house! 

They are similar to us in that they are late 20s and have been working for a number of years in order to get the money together to buy a house but how on earth would a recent graduate get a house based on securing their first job? They can't. No chance. There will be some that live under different circumstances, but typically people are going to have to work solidly for up to a decade just to be able to get on the property ladder. 

And some people say the youth of today walk around like they are entitled!


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## jp5 (Apr 12, 2017)

SwingsitlikeHogan said:



			Well - my little two bedroom flat (the second bedroom is truly titchy) in Bristol has just been sold for Â£287k.

http://www.rightmove.co.uk/property-for-sale/property-46372977.html

As first time buyer I bought it in 1986 for Â£35,000.  I put down Â£3k - and as my salary was Â£9.5K I could get a mortgage for under a 3.5x multiple. Sold it for Â£47,500 in 1994 (I think).  

It is the perfect flat for a first time buyer with a decent first job (my job was my first post graduation) - but how does an ordinary recent graduate afford Â£287k?  If they somehow have a deposit of more than 10% - say Â£35k - they still have to find Â£250k!  Even with an income of Â£50k (not yer normal new graduate salary in most professions) that would require a 5x multiplier.

Daft.
		
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That flat would be worth ~Â£95k if house prices had followed regular inflation.

Quite clearly the youth of today need to forego their Â£600 iPhones so the shortfall to today's flat value is only Â£191.4k instead of Â£192k!

Also not good news for students in that the recent inflation will push their student loan interest up to 6.1% - on the average loan of Â£45k that's Â£2.7k a year  - you'd have to be earning Â£75k just to cover the interest!  

Got to feel debt accruing like that is going to come back to bite someone at some point.

With the drop in home ownership rates among the young you wonder how they will plan for their retirements? I imagine the state will have a big job on its hands to pay rent for those without homes. Not the problem of today's politicians anyway I guess!


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## SwingsitlikeHogan (Apr 12, 2017)

jp5 said:



			That flat would be worth ~Â£95k if house prices had followed regular inflation.

Quite clearly the youth of today need to forego their Â£600 iPhones so the shortfall to today's flat value is only Â£191.4k instead of Â£192k!

Also not good news for students in that the recent inflation will push their student loan interest up to 6.1% - on the average loan of Â£45k that's Â£2.7k a year  - you'd have to be earning Â£75k just to cover the interest!  

Got to feel debt accruing like that is going to come back to bite someone at some point.

With the drop in home ownership rates among the young you wonder how they will plan for their retirements? *I imagine the state will have a big job on its hands to pay rent for those without homes*. Not the problem of today's politicians anyway I guess!
		
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This though isn't a problem of the dim and distant future - there are a *lot *of folks in their 40s and 50s currently renting in the private sector, and in 20-30 yrs most of them will not have a job that pays enough to pay their rent.


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## jp5 (Apr 12, 2017)

SwingsitlikeHogan said:



			This though isn't a problem of the dim and distant future - there are a *lot *of folks in their 40s and 50s currently renting in the private sector, and in 20-30 yrs most of them will not have a job that pays enough to pay their rent.
		
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True - that will be tip of the iceberg. 

Will give the Govmt a chance to warm up for the 25-34 and 16-24 cohorts with an even more pronounced difference in home ownership - that will be when the fun really starts!


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## Rooter (Apr 12, 2017)

I'm just so glad i bought when i did, i was the first of all my mates to buy my own place in 2005 ish, flat cost me 130k! i was earning about 25k at the time and had a 95% mortgage. The rest is history! managed to put 20% down on the current place, only through the profit i made on the previous moves. Not a chance in hell i could afford my house im in now. I'm 38 years old and have 29 years left on my mortgage!!


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## User62651 (Apr 12, 2017)

Prospects for the young are pretty awful wrt property, so wish I'd got in property early 90s befor prices started soaring. Instead stuck with a hefty mortgage running for decades after overpaying for a home we dont particularly like as so little was/is available or affordable. Not a great life situation to be in but could be much worse. I'd happily consider emigrating but mrs wont. Just got to make best of things in life, no one said it'd be easy.


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## SwingsitlikeHogan (Apr 12, 2017)

Various circumstances mean that I'll be able to pay off the mortgage next year.  I was very lucky, but I was only able to buy my wee flat because my parents had a little bit of savings they could lend me for a deposit (I was supposed to pay them back - but as interest rates rocketed I never could - and they eventually just said to me to not bother)

And so with a very grateful nod to the generosity of my parents - who had little and sacrificed a lot for me - we will be putting a fair lump aside for our children to help them when they want to buy a place.  We could spend it on ourselves - and have a great time in semi-retirement and retirement - but we feel a responsibility to help my children and will gladly make some sacrifices.  Because without my parents I wouldn't be who and where I am today - and our life is made whole by our children.

So yes - I can look at how irresponsible and feckless my son has been - and occasionally still can be - but that's not the point.  He and his sister are doing their very best as, in their early-mid 20s, they move into what will I fear be a difficult adult life.  If we can help by relieving one serious pressure - a roof over their heads - then that's us doing our bit in return for what they give us.  But they are among the very fortunate of their age group - many , many are not so.


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## Rooter (Apr 12, 2017)

SwingsitlikeHogan said:



			Various circumstances mean that I'll be able to pay off the mortgage next year.  I was very lucky, but I was only able to buy my wee flat because my parents had a little bit of savings they could lend me for a deposit (I was supposed to pay them back - but as interest rates rocketed I never could - and they eventually just said to me to not bother)

And so with a very grateful nod to the generosity of my parents - who had little and sacrificed a lot for me - we will be putting a fair lump aside for our children to help them when they want to buy a place.  We could spend it on ourselves - and have a great time in semi-retirement and retirement - but we feel a responsibility to help my children and will gladly make some sacrifices.  Because without my parents I wouldn't be who and where I am today - and our life is made whole by our children.

So yes - I can look at how irresponsible and feckless my son has been - and occasionally still can be - but that's not the point.  He and his sister are doing their very best as, in their early-mid 20s, they move into what will I fear be a difficult adult life.  If we can help by relieving one serious pressure - a roof over their heads - then that's us doing our bit in return for what they give us.  But they are among the very fortunate of their age group - many , many are not so.
		
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Plus, when you get really old, you can be a burden on them and move in. I suggest your sons house if he gets a cute wife. Every cloud!


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## SwingsitlikeHogan (Apr 12, 2017)

Rooter said:



			Plus, when you get really old, you can be a burden on them and move in. I suggest your sons house if he gets a cute wife. Every cloud!
		
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My daughter will be the chief executive of a major charity - my son will be the lead singer of the world's #1 Death Metal Band  - wonder who I could depend upon


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## londonlewis (Apr 12, 2017)

SwingsitlikeHogan said:



			My daughter will be the chief executive of a major charity - my son will be the lead singer of the world's #1 Death Metal Band  - wonder who I could depend upon 

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Depends if you want a roadie to help you with your ailing body or an actual professional. 
What's the name of your sons band?


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## SwingsitlikeHogan (Apr 12, 2017)

londonlewis said:



			Depends if you want a roadie to help you with your ailing body or an actual professional. 
What's the name of your sons band?
		
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Carbine - just back from a short 5 gig tour in Fr/Sp inc. Barcelona, Valencia and Madrid - this Saturday? - Huddersfield 

https://www.facebook.com/carbineuk/


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## londonlewis (Apr 12, 2017)

SwingsitlikeHogan said:



			Carbine - just back from a short 5 gig tour in Fr/Sp inc. Barcelona, Valencia and Madrid - this Saturday? - Huddersfield 

https://www.facebook.com/carbineuk/

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12 April 1926 
was the day that Huddersfield Town became the first club in history to win the English Football League Championship three years in succession. 


A colleague is a Huddersfield fan and shared this little factoid earlier.


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## RustyTom (Apr 12, 2017)

I bought my first and so far only house in 2012. I was 22, my partner was 27 we had a 1 year old daughter and paid Â£175k for it and about a month later i was starting to really regret it as it was about 15k more than any other houses in the street at the time and thought we had stretched ourselves too far.

5 years later, we have spent about 5k decorating and upgrading, our mortage has gone from Â£930pm to 630pm and its now worth Â£235k 

The housing market is crazy where i live, house prices are rocketing. My grandparents have just sold their house for Â£545k, they paid Â£27k for it back in the 70s.


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## Doon frae Troon (Apr 13, 2017)

Totally stagnant in my area.......has been for years.
No houses for sale at all in my village ATMo, when they come on the market they are usually snapped up.
Two new builds and lots of extentions / improvements though
Prices keep slowly going up but very few houses are sold.


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## chrisd (Apr 13, 2017)

I bought a brand new 3 bed semi in East Kent in 1975, it cost Â£9750 which was 50% dearer than others in the street as mine was built a year later!


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## Crazyface (Apr 14, 2017)

Funny story. My dad and mum bought their house in the 60's. It was the last in the row to be sold...number 13, so got it cheaper. Then...the road was extended away from number one in the other direction. It was decided to keep this road as the same name and renumber the houses. He's now number 17. LOL. Number 9 wasn't very happy.


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## Doon frae Troon (Apr 14, 2017)

So, basically it is a good time to be a cash buyer........Maggie would be pleased.


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## TomTom (Apr 14, 2017)

Doon frae Troon said:



			So, basically it is a good time to be a cash buyer........Maggie would be pleased.
		
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Or someone with a mortgage!


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