Predictions for the next 2 years

RelievedSheff

BikingBud wrote: »

Even more interesting:



Given the linked article is 2002. Has it been on fire twice? or did the buyer in 2007 get cleaned out?

Twice and quite possibly three times as it has a fire to the upper floors last year!

https://www.nottinghampost.com/news/local-news/firefighters-tackle-blaze-spread-across-1236923

RelievedSheff

Sailtheworld wrote: »

If you deem it to be worth less make them an offer. Why not try £200k and tell the cheeky beggars you're doing them a favour?

I expect I know what the answer to that would be :rotfl::rotfl::rotfl:

£200k didn't even pay the scaffolders bill for the latest work :eek:

Val2020

My prediction is property will be flat which means real term falls for the next 2 years

edgex

edgex wrote: »

What foreign money buying what?

triathlon wrote: »

Foreign money buying increasingly cheaper property as the Pound weakens, its already happening

That's not an answer to either part of the question is it...

If it's already happening, you can give some examples;
where the foreign money has come from (Country)
& what they've bought

Also, what proportion of house sales is it?

RyanEzio

I do think property prices have peaked in this country. Wages aren't keeping up with inflation, young cannot afford to buy an house at todays prices, without having a 35 year mortgage. Then, if your manage that (without any hiccups on the way) You then have to sell the property when you're old and crippled to pay for your care.



Houses are no longer investments, considering you can get a 4 bed house in a lesser known Spanish town for €80,000 as well as other European countries.



Maybe a price fall is good for the young?

Sailtheworld

edgex wrote: »

That's not an answer to either part of the question is it...

If it's already happening, you can give some examples;
where the foreign money has come from (Country)
& what they've bought

Also, what proportion of house sales is it?

https://www.business-live.co.uk/commercial-property/weak-pound-fuels-rich-foreign-16650234

Unless someone comes from a country which has just had a coup, a civil war and a political purge the UK is looking pretty cheap at the moment.

Zero_Sum

RyanEzio wrote: »

I do think property prices have peaked in this country. Wages aren't keeping up with inflation, young cannot afford to buy an house at todays prices, without having a 35 year mortgage. Then, if your manage that (without any hiccups on the way) You then have to sell the property when you're old and crippled to pay for your care.



Houses are no longer investments, considering you can get a 4 bed house in a lesser known Spanish town for €80,000 as well as other European countries.



Maybe a price fall is good for the young?

Outside of London, SE & a few tourist hotspots that just simply isnt true.
Where I live a couple on NMW could easily afford a half decent family home

triathlon

Sailtheworld wrote: »

https://www.business-live.co.uk/commercial-property/weak-pound-fuels-rich-foreign-16650234

Unless someone comes from a country which has just had a coup, a civil war and a political purge the UK is looking pretty cheap at the moment.

Yep I keep saying that and there is already evidence that foreign money is moving in.

Thousands of bitter HPC.com doomsters all on £22k per year are never going to match the stronger currencies in the world

MBenn80

I've moved in the opposite direction to you. Originally, I thought interest rates would stay low, making what seems like a huge sum of money affordable to those in work.

However, I now worry that a weakening pound and a more pro-Brexit BoE chief will raise interest rates to sustain some of Sterling's strength. That's going to cause a lot of problems.

Also note that a global downturn is just beginning. Those record employment figures won't last forever.

Another issue is EU funding (yawn!). A lot of the university towns, whose housing market has done very well over the last few years, are dependent on industries that are funded through EU grants. If we leave, those industries will take a hit, and a sudden flurry of German biochemists flting back home will have a big effect.

Malthusian

RelievedSheff wrote: »

It is currently a very nice family home not a hotel.

For a family of very rich Mormons with about ten kids? It's got like twelve bedrooms. A hotel that some people were living in while they restored the hotel is still a hotel.

It was a hotel, it became a dump, some property developers lived in it while they restored it, now they're flipping it and it is going to be a hotel and wedding venue again, which is why Rightmove is selling it as such.