Buying cheaper than social housing for half the country

cells

Buying cheaper than social housing for half the country

mwpt

cells, what do you make of anecdotes such as this post?

http://www.housepricecrash.co.uk/forum/index.php?/topic/209188-halifax-26/?p=1102919374

How do the prices mentioned fit with your thesis that buying is cheap except in London / SE?

cells

mwpt wrote: »

cells, what do you make of anecdotes such as this post?

http://www.housepricecrash.co.uk/forum/index.php?/topic/209188-halifax-26/?p=1102919374

How do the prices mentioned fit with your thesis that buying is cheap except in London / SE?

First Without reading it im going to guess that for someone to think the north or midlands is expensive they 1: are looking for more than the average terrace 2: earn less than a full time adult male and much much more rarely 3: they are hoping to buy a couple of sigma away from the average town in those regions

Now to have a read. Well that failed there are over a hundred posts on that thread. quote the specific one you were talking about and we can have a gander.

mwpt

cells wrote: »

First Without reading it im going to guess that for someone to think the north or midlands is expensive they 1: are looking for more than the average terrace 2: earn less than a full time adult male and much much more rarely 3: they are hoping to buy a couple of sigma away from the average town in those regions

Now to have a read. Well that failed there are over a hundred posts on that thread. quote the specific one you were talking about and we can have a gander.

The link takes you to the specific post (saying how prices are rocketing in Sheffield West). I had a look and I can see quite a few three bed semi detached houses for sale under £200k in "west" Sheffield, so I'm not quite sure how to interpret the post.

cells

mwpt wrote: »

The link takes you to the specific post (saying how prices are rocketing in Sheffield West). I had a look and I can see quite a few three bed semi detached houses for sale under £200k in "west" Sheffield, so I'm not quite sure how to interpret the post.

Honestly the biggest problem for the 'houses are too expensive' website is that they completely ignore the cheap bottom of the ladder type properties. To be honest everyone ignores them who wants to live in the lowest priced properties? but someone has to we cant leave them empty.

The land registry website is good for checking this info.
If you put in Sheffield it shows for Febuary 2016 (the latest data available) the average price of a terrace as £99,330

But they are correct prices are going up they were £89,919 two years before.


Both prices are affordable. If I gave the person complaining about £99.3k as too expensive a FREE plot of land and said go at it build yourself a house I would wager he couldn't do it for £99k. At £99k for a terrace it is affordable and arguably if the property is near the town centre you are getting quite valuable land for free.


But of course he does not want the average terrace. He probably wants the average detached which in sheffied is £235,670 according to latest land reg

Cakeguts

Changing the subject slightly have a look at how many of the houses on sale in Sheffield are actually empty at the moment. Not only is it cheaper in the North but quite a lot of it is also vacant. So no shortage of housing because if there was there wouldn't be so much empty property on the market.

HAMISH_MCTAVISH

mwpt wrote: »

I'm not quite sure how to interpret the post.

[HPCtranslator]

"Champagne taste on a Beer budget"

[/HPCtranslator]

DRFC1879

For a lot of decent properties in South Yorkshire there has already been a fairly significant crash (at least in asking price, I haven't been on the LR site). It's one of the reasons for proliferation of those "newby" landlords (like me!).


I bought a newbuild apartment/flat (call it what you like) in 2002 for £76k. At its peak, my girlfriend (now wife) bought my friend out and it was valued by the Halifax at £130k. That must've been around 2007/8.


When we decided to upsize for our family home almost three years ago we were hoping to sell for somewhere around £100k but barely got a sniff so we decided to keep hold of it and rent it out. That type of property is now going for about £80k so we'll have it for a few years yet. I don't know how much more the crash trolls really expect!


As an aside, obviously this would be in my interest but it does give further rationale for the "Northern Powerhouse" becoming something more substantial than an appeasement strapline to con Yorkshiremen into voting Tory. I've been told on here that people are willing to pay through the nose for extortionate rents in London because the earning power is so great and the city is vibrant and attractive. If there were incentives for businesses to set up shop in the North where they could significantly reduce cost and add those savings straight to the bottom of their balance sheets, unemployment would drop saving the exchequer a lot of benefit money. Average wages would rise, fewer skilled and intelligent people would drop down the brain drain and the cultural vibrancy would follow to fulfil the demand those peole would create. It's a complete no-brainer.

wotsthat

DRFC1879 wrote: »

When we decided to upsize for our family home almost three years ago we were hoping to sell for somewhere around £100k but barely got a sniff so we decided to keep hold of it and rent it out. That type of property is now going for about £80k so we'll have it for a few years yet. I don't know how much more the crash trolls really expect!

The crash trolls would like you to see and realise that loss today rather than trying to ride it out to a breakeven.

They'll try and claim they have the moral high ground and any connection between their desired outcome and their own financial interests are, of course, entirely co-incidental.

DRFC1879

Aye. Of course I'd love to do that and lose a load of hard-earned cash rather than let my tenant buy me a flat.