I Could've Cried ... And You Will Too

tommy75

The house i'm renting was bought in 2006 for 86k. Three houses sold on this street in 2002-3 between 5.5k and 23k. :T

undetterred

Cleaver wrote: »

This line makes me want to cry slightly more than the bit about the 12k house.

Imagine the glee and butterflies in the stomach,when waiting for the LR to release figures.

Its a big world out there.

treliac

Emy1501 wrote: »

What I find strang with LR these days is how few properties complete these days. In the 2 postcodes I look its 20% of the 2007 figures.

Too many asking too much / refusing to accept reduced values?

Several round here have had 'sold' boards up, then gone back on the market. I imagine that prospective buyers have found themselves unable to get the loans they hoped for and/or mortgage valuations have not come up to expectations.

Unrealistic expectations still pervade!

puddy

is that 1000% increase? im no good at maths

LilacPixie

could it possibly of been a LA discounted purchase in 2000?

PasturesNew

For many of you, the concept of a £12k house is completely alien. Yet there have been places where houses really did cost that much as recently as 2000... and beyond in some areas.

I've always lived in expensive places, but I know these cheapo places existed - and now those house prices have been bubbled up to prices closer to the rest of the country as investors piled into the cheaper areas outside of where they lived.

sabretoothtigger

I know of a 10k house around 2001 and I bet its not done much more then double.
It wasnt in a desirable area and isnt ,hence I dont think the price will change that much

Two bed house needed updating but not gutting, nothing wrong with it except supply and demand or the famously quoted location location location.
Its the same kind of house and land as any other basically, the rest is premium perception like cod and chips to caviar

http://en.wikipedia.org/wiki/Pricing

Over 1000% jenner

BlondeHeadOn

PasturesNew wrote: »

For many of you, the concept of a £12k house is completely alien. Yet there have been places where houses really did cost that much as recently as 2000... and beyond in some areas.

I've always lived in expensive places, but I know these cheapo places existed - and now those house prices have been bubbled up to prices closer to the rest of the country as investors piled into the cheaper areas outside of where they lived.

I remember when I was last looking to buy a house (admittedly this was 1997, so back in the dark ages...:rolleyes: ) - I saw an ad in a Yorkshire paper for a 2 bedroomed terraced house with cellar. It was advertised as "Offers around £5,000, or will accept latest car in exchange" !

:rotfl:

Give 'car scrappage schemes' a possible whole new dimension...

Mini_Bear

Not strictly from land registry but i have an interesting anecdotal. my twin sister rented a new build flat - two story, 2 bedroom 2 bathroom - fully furnished very expensive fixtures and fittings. all was good for 3 months (they had a 12 month AST). my sister noticed a lot of angry red letters were coming thru the door addressed to the landlord. my sis did kept them in a pile and called the letting agent to tell them. They told her to stop paying rent as the landlord had in effect done a bunk to Dubai and had not been payin the mortgage for months. my sis was uneasy with this but the letting agent said as the landlord had not kept to their side of the agreement (residential mortgage, no gas checks etc) they could not accept rent from my sis or her house mate. needless to say they lived in the flat rent free until the tenancy finished. they left the place in tip top condition. i was interested in the property and it went up as a repo at 99k (it originally sold for 200k!). i was slow and dithered with finances etc. the place is now on rightmove for 135k. i couldnt believe a 35% profit is still possible on a flip. even 20% (£20k) would be impressive in this market!

chaostheory

PasturesNew wrote: »

OK, so it's my favourite bit of the month - when the land registry latest prices are updated to the free house prices websites online. So I always like to spend 20 minutes or so skimming through particular addresses, areas, etc of vague nosey interest.

Then I spotted a price that made me cry.

Could you afford to buy a house for £12k? Could most people, if they put their mind to it, afford to buy a house for £12k?

What about £130k? Can you afford to buy at £130k? Starting from nothing... ? Could you?

One house I saw sold for £12k in 2000 and just resold at £130k

It was mental wasn't it.

Why didn't you buy in 2000 or before?