Shocking House Price Increases

GrumpyDil

This new build prices going up in the first has me absolutely amazed but it's something I've recently seen on the Northants/Cambs border.

mailmannz

Seems the problem we have up near Peterborough is being in the London commuter belt all of the new builds are targeted at their wallets.

Which is a real shame because the housing stock on offer is not worth the £300k+ being demanded by Barrets and Linden Homes and others!

Regards

Mailman

bowlhead99

mailmannz wrote: »

Which is a real shame because the housing stock on offer is not worth the £300k+ being demanded by Barrets and Linden Homes and others!

It's presumably worth it to someone, otherwise Barratt and Linden or others wouldn't be able to demand it and have someone pay it.

Seems the problem we have up near Peterborough is being in the London commuter belt all of the new builds are targeted at their wallets.

£300k in many London boroughs doesn't even get you a 1-bed flat. So, not surprising that some people would be willing to do a commute of one hour plus to get a 3-4 bed house.

brit1234

konark wrote: »

Don't rush to invest before HS2 is completed, that'll be another 15 years!

Prices are going up in lots of parts of the country and rapidly falling in others.

London and the South East shot up in the early part of the decade to unaffordable levels. It was hugely speculative with people buying up all along the cross rail route in advance. Prices simply became unaffordable. Many of my friends in London who could not buy then started traveling North to Birmingham and Manchester. There has been a massive move in young professionals travelling North and this has boosted houseprices in that direction. The big builders have refocused there attention up North to get more money.

However prices in Central London collapsed, then slowly rippled out to outer LOndon and now the South East. Cross rail towns such as Reading are now struggling and properties are not selling and dropping in price.

At the moment its about 2 large property ripples. The 1st one that came out of London years ago pushing prices up now North and the 2nd one coming out of London a few years behind pushing prices down which is only in the South at the moment.

Negative sentiment hasn't reached Birmingham and above yet and HS2 speculation is going to over inflate prices there but cross rail has shown it won't last forever and people will overpay and likely get burnt paying too much.

Glover1862

Kettering seems be going up, I got a 3 beds semi for £140k last year, decent area with parking, could easily add £20k to that now. always thought Kettering and Corby were cheap. Ok, I know not great area but sub £150k for 3 beds 1 hour from London won't be around forever.

Akahotpot

My part of Lancashire is flat maybe even falling

LdnFtB

Hackney is seeing some pretty shocking falls at the moment - we're buying a flat and paying 20k less than a future neighbour paid for theirs three months ago. Just over a year ago someone paid 70k more for a flat in the next block.

All three two bed ex local authorities in similar condition, aspect and size.

GrumpyDil

Glover1862 wrote: »

Kettering seems be going up, I got a 3 beds semi for £140k last year, decent area with parking, could easily add £20k to that now. always thought Kettering and Corby were cheap. Ok, I know not great area but sub £150k for 3 beds 1 hour from London won't be around forever.

Not really keeping an eye on Kettering prices at the moment as we moved away from there last year but 140k for a three bed semi last year sounds a good price anyway as we paid more than that for one a number of years earlier.

Crashy_Time

LdnFtB wrote: »

Hackney is seeing some pretty shocking falls at the moment - we're buying a flat and paying 20k less than a future neighbour paid for theirs three months ago. Just over a year ago someone paid 70k more for a flat in the next block.

All three two bed ex local authorities in similar condition, aspect and size.

Bet they are feeling chuffed with themselves now? As the future PM might as well have been wearing his HPC T shirt when giving that speech today things are only going to get worse (better)