Just noticed something on LR figures.

Percy1983

I will admit this is rather bearish in many respects but I figured some of you may find this interesting.

So anyway I was looking my local land registry graph and thought it looks familiar.

Anyway after some digging and a few minutes in photoshop I came up with this!



By all means I don't think prices are going to drop that far, but this is case of fiction becoming fact.

Before anybody says it I know it won't work with all areas.

Have I finally lost it? :rotfl:

Pimperne1

Percy1983 wrote: »

I will admit this is rather bearish in many respects but I figured some of you may find this interesting.

So anyway I was looking my local land registry graph and thought it looks familiar.

Anyway after some digging and a few minutes in photoshop I came up with this!



By all means I don't think prices are going to drop that far, but this is case of fiction becoming fact.

Before anybody says it I know it won't work with all areas.

Have I finally lost it? :rotfl:

I think it could well happen in Oldham (and many other less desirable areas).

Graham_Devon

Percy1983 wrote: »

Have I finally lost it? :rotfl:

No, but you know how to get the crowd worked up

That chart / doodle / tracing / painting always causes a riot!

undetterred

Oldham it'll happen,its the rsehole of the northwest,your welcome to it.

michaels

Oooooh! the graph again - somebody pass me a tissue

Jimmy_31

Pimperne1 wrote: »

I think it could well happen in Oldham (and many other less desirable areas).

It will definitely happen in my area :):):)

Percy1983

undetterred wrote: »

Oldham it'll happen,its the rsehole of the northwest,your welcome to it.

Yep all of Oldham is awful:
http://en.wikipedia.org/wiki/Saddleworth

By all means yes there is parts of it I would touch with Sibleys but there are many nice areas in Oldham. With that I guess it my local knowledge which tells me that, so to buy in Oldham is no problem for me.

Really2

Crikey, 1995 the first sell off.

Hate to think how low it went before that.;)

RenovationMan

Percy1983 wrote: »

Yep all of Oldham is awful:
http://en.wikipedia.org/wiki/Saddleworth

By all means yes there is parts of it I would touch with Sibleys but there are many nice areas in Oldham. With that I guess it my local knowledge which tells me that, so to buy in Oldham is no problem for me.

Here's the cheapest house I could find in Saddleworth; Delph no less where all the rich folk live :

http://www.rightmove.co.uk/property-for-sale/property-16723572.html?premiumA=true

2 bed stone 'cottage', £55k at auction.

Percy1983

Personally I don't actually want to live up there, every time I drive up there I wonder what it is all about.

And if it snows you can't get anywhere.

I am quite happy down the hill in the scummy bits.

Batchy

Although your graph is probably right, correct, look at the scale for time?

And then ask yourself you have missed out earlier on, but are you prepared to not buy for the whole of your life waiting? Just cause it would have been cheaper if you did it sooner.

What is doesnt take into account is how much cheaper the mortgage is NOW, with low interest rates, its not all about capital value, I took a punt on the basis I expect interest rates to be lower for longer, on the basis that the banks need it low, to recapitalise, their target is by 2018, when the new levels are introduced, can see massive steps up until after 2015 or even 2018 depending on who gets back in government, of course they dont influence BOE monetary policy, but they do! lol NOT... DO