Flamin' 'Eck, English House Prices Are Cheap.....

Graham_Devon

Cleaver wrote: »

Stop assuming that you'd be mugged in it then.

All I'm saying is, with prices that low, there something up. That's instantly what comes to mind.

Or are we just focusing merely on prices here and turning a blind eye to the obvious that something is wrong here, and even at 35k, no ones buying the places, BTL peeps included?

35k houses prove the point that there is affordable houses out there. But that's all it does. Looks absolutely no further.

Really2

Graham_Devon wrote: »

It's hard to argue that isn't affordable.

3rd one is a 3 bed terrace for 34k. Needs some renovation, but I'd expect so at that price level.

Just wonder if I'd make it a week before I'm mugged, or assualted for simply walking down the street. I don't know anything about the area, so a house prices that much screams problems to me.

Or it is not near anywhere? The main question is, are there houses under £100K yes, quiet a bit under, and that is just one county.

If the argument is they are available but I think I deserve better kind of sums up the forum really.
AFIK you could live in a £5m+ pad in Notting Hill and still get mugged??

Cleaver

Graham_Devon wrote: »

All I'm saying is, with prices that low, there something up. That's instantly what comes to mind.

It's a ex-council estate near Newcastle by the look of it, so it's going to be cheap. And you might be mugged there. But then again, you might not... as you said, you don't know the area.

Graham_Devon wrote: »

Or are we just focusing merely on prices here and turning a blind eye to the obvious that something is wrong here, and even at 35k, no ones buying the places, BTL peeps included?

I'm not really sure I understand your logic. If I put in a search in to Rightmove for £1million properties in London I get over 1000 propeties. Doesn't mean people aren't buying £1 million properties in London, it just means that Rightmove has a load for sale.

Graham_Devon

Really2 wrote: »

If the argument is they are available but I think I deserve better kind of sums up the forum really.

No, that's not the argument.

Let's assume for a second that house is unmortgageable and you won't get insurance on it because it's built over a potentially unstable quarry shaft, hence the price.

Would it be wrong of people to say "erm, no ta mate, I think I'll look elsewhere".

It may well be affordable, but would you want to bring up your kids in it? Does that qualify as "I want better" or does it qualify as pure sense?

All I'm saying is price tells one aspect of the story. Or is the argument that its affordable (forgetting no ones buying it for some reason) therefore people should stop saying houses are unaffordable? (Even if the affordable ones are built over mine shafts, or do have concrete cancer, or are in a red light district and so on).

Cleaver

Graham_Devon wrote: »

No, that's not the argument.

Let's assume for a second that house is unmortgageable and you won't get insurance on it because it's built over a potentially unstable quarry shaft, hence the price.

Would it be wrong of people to say "erm, no ta mate, I think I'll look elsewhere".

It may well be affordable, but would you want to bring up your kids in it? Does that qualify as "I want better" or does it qualify as pure sense?

Does it matter?! Getting back to the original point, Generali posted a source which said that the average price for a home was about £100k. Rightmove seems, as far as I can see, to show that the average price is indeed about £100k in that areas. It makes no odds whether Graham Devon wants to bring his kids up there, it just is what it is.

Really2

£35K is even at 3.5X single wage would mean you could buy it with a wage of £10K.

I could afford that in my first proper job in 1996!

Look at the ones at nearer £100K if you want, but dont moan the one at £35K may be a bit rough, You could buy it on benifits virtually!!

What are peoples problems, this is very affordable housing and you could own it outright virtually on the average wage in 2-3 years.

But this then has to be made out to be a hell hole? It may not be great but I dare say it is OK for people on a very, very low wage.

Graham_Devon

Cleaver wrote: »

Does it matter?!

Erm, well, just a tad.

May be affordable, but if it needs knocking down, or is unmortgageable, it aint really that affordable.

As I said, all these sorts of houses do is prove one point, ignoring every single other possible factor.

Looking further into it seems to have got your backs up though, so for that, I apologise.

Really2

Graham_Devon wrote: »

May be affordable, but if it needs knocking down, or is unmortgageable, it aint really that affordable.

As I said, all these sorts of houses do is prove one point, ignoring every single other possible factor.

Or ignoring the 534 further properties?

Graham_Devon

Really2 wrote: »

Or ignoring the 534 further properties?

I'm talking about these 35k ones. Not the 60k ones. Already agreed you can't really argue it's not affordable, just need to look a bit further than the price, thats all I'm saying.

The £500 fiesta down the road is affordable, but I look past it and am looking for a car around 6-7k. Why? Because the fiesta at £500, although affordable, is a dangerous shed.

Cleaver

Graham_Devon wrote: »

Erm, well, just a tad.

May be affordable, but if it needs knocking down, or is unmortgageable, it aint really that affordable.

As I said, all these sorts of houses do is prove one point, ignoring every single other possible factor.

Looking further into it seems to have got your backs up though, so for that, I apologise.

No need to apologise as I don't think my back is up, nor Really's. It's an interesting debate.

I'm just saying that Generali posted a source saying that £100k was the average price in the North East, which was disputed. Really posted a link to Rightmove that stated that there were over 500 3-bed properties in just Northumberland that were under £100k, which seems to confirm Generali's source.

You're right of course, some will not get a mortgage and some will need knocking down. But that won't be more than a small majority, will it?