***House prices up 1.2% in May***

StevieJ

mewbie wrote: »

This link to a two month old article shows that the odd % here and there doesn't really amount to anything. I hope you will enjoy it because it has lots of graphs, although it is a teensy bit bearish.

http://www.moneyweek.com/investments/property/uk-house-prices-will-plummet-look-at-this-scary-chart-14664.aspx?utm_source=newsletter&utm_medium=email&utm_campaign=Money%2BMorning

It's enough to keep me convinced there is a long long way to drop yet. On the plus side, I may be able to snaffle some repossessed BTL's at the very bottom. I am sure that will meet with any bulls approval.

So why is that bull trap so far above the trend line when other charts show that average prices have now dropped on to the long term trend line

FungusFighter

Vinegartits wrote: »

Builders quote a minimum of 20% over and above what it will actually cost, any fool knows that - the improvements you describe would cost £15k maximum, extension £20k max, kitchen and bathrooms another £10k. I have built a house from scratch and know what these things actually cost rather than what builders say they cost. However, that still makes the property unsuitable for investment purposes - £50k spent on it now will not give any return on the investment for many years.

Back to your property, I assume your comment about 5 bedrooms means you have an extra room downstairs you are calling a bedroom? In which case most of the houses in the road are "5 bedroom", yours is certainly nothing special. In my honest opinion, your property lacks kerb appeal; the drive is cheap and shoddy and the frontage is ghastly. As far as I can tell you have merely recycled existing windows and doors and the overall impression is unappealing and I for one would not bother viewing it even if you had crammed in 10 bedrooms.

My final point is that instead of buying a new car you should spend some money on the drive - a sixties pebble and concrete monstrosity like that says unfinished, ran out of money and couldn't be bothered to me and you certainly won't be getting anywhere near top price until you deal with it.

Man, this is just a forum, your taking it much to seriously mate;)

El Gherkino gets on my t1ts as much as the next dude but you coulda left himwith one love-spud to play with:rotfl:

FungusFighter

mewbie wrote: »

This link to a two month old article shows that the odd % here and there doesn't really amount to anything. I hope you will enjoy it because it has lots of graphs, although it is a teensy bit bearish.

http://www.moneyweek.com/investments/property/uk-house-prices-will-plummet-look-at-this-scary-chart-14664.aspx?utm_source=newsletter&utm_medium=email&utm_campaign=Money%2BMorning

It's enough to keep me convinced there is a long long way to drop yet. On the plus side, I may be able to snaffle some repossessed BTL's at the very bottom. I am sure that will meet with any bulls approval.

Nice graphs Babe but the only way your going to get an overall pricture is to look back from 2011:D

mewbie_2

StevieJ wrote: »

So why is that bull trap so far above the trend line when other charts show that average prices have now dropped on to the long term trend line

There's a whole range of charts out there, some of them show what you want to see, and some of them show what I want to see. I think the bull trap is an accurate reflection of the relatively small drop we have so far had, and the smallish bounce we are seeing is the last few punters who mistakenly think the crash is over.

For me it is at present largely an academic exercise, as I have no intention of buying more property until the drops I expect to see have materialised. When BTL outperforms other forms of easy investment, such as bonds, shares, commodities, etc. then it may be time to have a look. But for now, clearly it would be foolish.

tbh - it may be that BTL, or rather cash to let (who would want to borrow - lol) never makes enough of a sound investment deal. In which case the drops may just provide an opportunity to trade up personal property instead.

Looks like win / win to me... but not just yet!

Graham_Devon

chucky wrote: »

if you bought a few of months ago - you would be making money on your property.

February 2009 £147,746
March 2009 £150,946
April 2009 £151,861
May 2009 £154,016

that's a 4.24% increase in 4 months - i'll let you work out the annual average from that

Looks like a mini boom. 7k in four months? That's what we saw in the boom.

Which is always followed by the inevitable...

I'd enjoy it while it lasts.

nearlynew

mewbie wrote: »

Thanks Mr. B. I believe the bear argument, have done for years, finally seems to have happened. I don't believe its the end of the world, but everything I read tells me not to think its over yet.............

I wouldn't normally correct this sort of mistake, but given that you have criticised others in the past for similar mistakes I couldn't resist.

mewbie_2

nearlynew wrote: »

I wouldn't normally correct this sort of mistake, but given that you have criticised others in the past for similar mistakes I couldn't resist.

Thanks for being so obviously a sockie! Normally it takes time to winkle them out, but you just couldn't resist could you?

Generali

mewbie wrote: »

Thanks for being so obviously a sockie! Normally it takes time to winkle them out, but you just couldn't resist could you?

It's great when someone who has posted here a couple of times has a pop about what you 'always' do.

For whoever is stalking me and hates me having fun, I'd just like to point out that it's the Queen's Birthday next week and so we get Monday next off so I'm off in me mate's yacht to move it back to Sydney Harbour from Botany Bay which should be good. A little chilly perhaps (20C is the forecast) but we should get a good breeze going so we'll get a bit of speed up.

StevieJ

Generali wrote: »

It's great when someone who has posted here a couple of times has a pop about what you 'always' do.

For whoever is stalking me and hates me having fun, I'd just like to point out that it's the Queen's Birthday next week and so we get Monday next off so I'm off in me mate's yacht to move it back to Sydney Harbour from Botany Bay which should be good. A little chilly perhaps (20C is the forecast) but we should get a good breeze going so we'll get a bit of speed up.

Hey Gen, it is hotter than that here :beer: Could do with sailing in a yacht though

Generali

StevieJ wrote: »

Hey Gen, it is hotter than that here :beer:

Hi StevieJ.

Well it is winter here just about. I guess that London is hotter even than Southern Queensland for a few days each year although hotter than Townsville (northern QLD) for perhaps 3-4 days if the UK has a really hot summer.

I always found the newspaper headline in a hot British summer week: London Hotter Than Athens to be a bit odd. I remember being in Western France perhaps 200 miles or so South of the UK in 1990 and having British touists come over and insist (sometimes quite forcefully) that Britain had been the hottest place in Europe that summer because if London was hotter than Athens then it was surely hotter than La Rochelle or Barcelona.

Having said all that, I love the British summer and am missing it - the really long days and people squeezing every last drop out of warm sunny evenings....wonderful. Kentish beer gardens on a Sunday afternoon. 6,000,000 people trying to go for a pint along about 10 miles of The Thames on a Friday evening....marvellous.

StevieJ wrote: »

Could do with sailing in a yacht though

The owner does a real MSE version of yacht owning hence he can afford it as a gaoler. It's a very nice yacht though - a 30ft Cat. Worth perhaps AUD80,000 right now (his bicycle would costs about $3,000 to replace and that'll be his second biggest asset). Once he's made it pretty and sold it he'll get $250,000 and move on to the next project.

He's a Shire lad - not flash or anything, just loves his sailing and his projects.