UK Property to HALVE Between Now and July 29, 2010

Davesnave

ukcarper wrote: »

I'm sure most people would have been quite happy if HPI had been in line with wage inflation but that didn’t happen. Not every body wants to move away from where they live when they retire in fact I would say that it a small percentage who do. As for helping children none of my friends have been able to give their children large deposits but most of their children own property.

Do you really think people like Hamish have any effect on house prices

I doubt if if Hamish has any effect whatever, judging by the number of people who read this forum.

In my own family, I could give several instances of children benefiting greatly from their parents acquiring large Cotswold cottages on retirement from London in the 70s. As you know, there was fairly rampant house price inflation then too. Large houses that can later be sub-divided, or with outbuildings, have been a very good bet.

More recently, a close relative has bought part of a large property from his parents and renovated it, rather than purchase a ticky-tacky box for more money on a modern estate. OK he has had to do the work, but he would not have had the option without that parental support.

Maybe my family is a bit odd, since virtually everyone on both sides has moved west close to retirement and/or renovated something at that time.

Yeah, I've just done it too! We are all victims of our upbringing....:(

ukcarper

Davesnave wrote: »

I doubt if if Hamish has any effect whatever, judging by the number of people who read this forum.

In my own family, I could give several instances of children benefiting greatly from their parents acquiring large Cotswold cottages on retirement from London in the 70s. As you know, there was fairly rampant house price inflation then too. Large houses that can later be sub-divided, or with outbuildings, have been a very good bet.

More recently, a close relative has bought part of a large property from his parents and renovated it, rather than purchase a ticky-tacky box for more money on a modern estate. OK he has had to do the work, but he would not have had the option without that parental support.

Maybe my family is a bit odd, since virtually everyone on both sides has moved west close to retirement and/or renovated something at that time.

Yeah, I've just done it too! We are all victims of our upbringing....:(

I don’t think you are talking about the average homeowner though the people living in a semi in average parts of the country or even most of the Southeast. I live in a 4 bed detached in surrey and I wouldn’t be able to move to the Cotswolds and buy a large cottage or sell part of my house to a family member.

ukcarper

treliac wrote: »

ld agrre.

. It does seem difficult for some posters to believe we're not all mad, greedy, house price rampers with an eye only to personal acquisition.

I would agree with that but the impression I get is that it’s both bears and bulls that think it that is what most home owners want.

My house is worth about £275k. I could downsize to smaller house £220k so if I downsized I would have £45k after fees. If you say an average house should be 4 x average wage that would make average house £100k not £150 it is now therefore I would get about £30k after downsizing I would be happy with that and I would have thought that most people would have been if that is what happened.

Davesnave

ukcarper wrote: »

I don’t think you are talking about the average homeowner though the people living in a semi in average parts of the country or even most of the Southeast. I live in a 4 bed detached in surrey and I wouldn’t be able to move to the Cotswolds and buy a large cottage or sell part of my house to a family member.

Not now you couldn't, but the fact that it's become so popular and pricey is down, to a large extent, to people moving at retirement. I did a quick tally, and although all my known family were in London & the South East in, say, 1968, only two remain. Everyone else that I have contact with is in the Cotswolds, the Westcountry and Wales.....apart from one who went to the far north of Scotland....

Hey, hang on a minute.....:eek: No, he's not at all like Hamish. He went there for the wildlife!

There are still places where that kind of migration is possible, and people are still doing it. The problem is, as people push ever west and north, local kids are priced-out.

ukcarper

Davesnave wrote: »

Not now you couldn't, but the fact that it's become so popular and pricey is down, to a large extent, to people moving at retirement. I did a quick tally, and although all my known family were in London & the South East in, say, 1968, only two remain. Everyone else that I have contact with is in the Cotswolds, the Westcountry and Wales.....apart from one who went to the far north of Scotland....

Hey, hang on a minute.....:eek: No, he's not at all like Hamish. He went there for the wildlife!

There are still places where that kind of migration is possible, and people are still doing it. The problem is, as people push ever west and north, local kids are priced-out.

It would still be possible with lower HPI and yes people are still doing it but they are a small minority.

HAMISH_MCTAVISH

treliac wrote: »

mad, greedy, house price rampers with an eye only to personal acquisition.

Hey!!!!!!!!

I resemble that remark...

FATBALLZ

I'm a bit dissapointed, its coming up to july and my home is still 100% the size it was this time last year.

chucky

geoffky wrote: »

THIS article is very very bearish.... and its from moneyweek who are respected.


[FONT=Georgia, Times New Roman, Times, serif]Don’t buy into the property rally, reader. [/FONT]
[FONT=Georgia, Times New Roman, Times, serif]It’s for SUCKERS.[/FONT]

Moneyweek respected?? by whom??

UK Property to HALVE Between Now and July 29, 2010

i just hope that you guys didn't sell your houses or even expect house prices to halve in value by July 29, 2010 because that would be stupid. right?

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PasturesNew

Halved (needs Property Bee)

Commercial: http://www.rightmove.co.uk/property-for-sale/property-12491160.html
Holiday home: http://www.rightmove.co.uk/property-for-sale/property-20019208.html
Land: http://www.rightmove.co.uk/property-for-sale/property-25192846.html (more than halved, then went up a bit)
Residential mobile home: http://www.rightmove.co.uk/property-for-sale/property-9102641.html
Residential mobile home: http://www.rightmove.co.uk/property-for-sale/property-22231102.html

Not a lot ... but I found some

chucky

PasturesNew wrote: »

Halved (needs Property Bee)

Commercial: http://www.rightmove.co.uk/property-for-sale/property-12491160.html
Holiday home: http://www.rightmove.co.uk/property-for-sale/property-20019208.html
Land: http://www.rightmove.co.uk/property-for-sale/property-25192846.html (more than halved, then went up a bit)
Residential mobile home: http://www.rightmove.co.uk/property-for-sale/property-9102641.html
Residential mobile home: http://www.rightmove.co.uk/property-for-sale/property-22231102.html

Not a lot ... but I found some

thanks PN - i was just hoping that nobody sold their house or even put off buying their house until after July 29, 2010 expecting property to halve after reading that Moneyweek article.

i'm a caring kind of guy