" Prices wont fall in my area" - why do some say this?

BenL

Shaws trailer park maybe the exception of being posh on the outskirts but again it could also be used to compare similar caravan based properties across the UK.

Maybe its the closeness with good links to Leeds, maybe its the romantic feeling of a Spa town and the history this brings. The lowish crime rate or the money attracts money.

If prices did start to drop or get to the bottom/near the bottom (that guessing game like the top of the market) and people had money available I believe they would purchase in Harrogate as the percentage gains on the next cycle of going back upwards would outstrip a lot of other areas.

It wouldn't escape a nationwide crash but it would be an area that people would look at closely if they had the possibility of moving to and the interest may keep the worst falls away - whereas the closeby Leeds city centre would be hammered.

codger

PasturesNew wrote: »

It's dead posh in Harrogate I see: http://www.rightmove.co.uk/viewdetails-9918168.rsp?pa_n=1&tr_t=buy

Dead posh they may be. But clearly, not that sophisticated: the resonance of the phrase "trailer park" has long been unappealing. Unless you're the kind of person who thinks the worst impression created could lead only to confusion with a TruckHaven.

Interesting to see EAs desperately seeking to claw profits from the park homes market, now that t'other market is collapsing around their ears.

With this bungalow ad though, either the comma's gone in the wrong place in the price tag, or the reference about the site only permitting people aged over 40 is a mistype, and should've said, only properties over that age.

As to the notion of folks in the Southeast / London having Harrogate on the list of favourable locations, that's sadly Harrogate-ese for wishful thinking: unless it's a case of re-locating because of a job or a desire to come north to be near the grandchildren, cashing in (if you can) on a pot of money Dahn Sarf is more likely to lead to a new home in Faro than Harrogate.

We travel a lot nowadays and have gotten over the surprise of encountering Brits in some of the most unexpected places in France, Spain, and The Canaries.

Years ago, when we lived in Bramhall and then Wilmslow it was often said, if not by us, that Cheshire was a Home County that had somehow been displaced north, and so local prices would always be boosted by buyers coming in from London and the Southeast.

Yeah. Right. Not only did we never come across a single instance of that happening (unless job related), several of our London / Southeast friends who used to visit us in Cheshire and acclaimed its environs now sit with fixed grins on their faces in their homes in, er, rural France. Not Cheshire.

Naturally, we've stopped visiting any of 'em because it was bad enough when they bored us to tears with tales of what you got for your money compared with the UK, now it's infinitely worse to witness the malicious satisfaction they derive in the seemingly unstoppable rise of the Euro (and decline of the £).

But then. . . I'd probably be the same.

Good luck to Ben then, because if the long-gone, and probably-never-was, urban mythology is set aside about a nothern migration by rich folks dying to escape London / The Southeast, then the home economics (literally) affecting the rest of the UK will also affect luvvly Harrogate -- thus making it easier, at long last, for him to buy what he wants.

m00m00

Harrogate has always been relatively expensive compared to the surrounding areas. It will remain so. That doesn't mean prices won't drop though, prices will drop everywhere.

Harrogate appeals to people from Yorkshire more than people from london, and contrary to main peoples preconceptions, some people in yorkshire have money.

codger

Eeeh oop there, m00m00. Ah'll go to the back of our stairs, you keep banging on about ow much brass we 'ave.

codger

Mrs C and I are on the mailing list of Tingdene Homes, the UK park homes manufacturer. We thought we might buy one, one day.

Today we've received the Tingdene June newsletter, which aside from a definitive explanation of what's going on in the UK housing market -- I've put that on the house price crash thread -- also brings excellent news for all those who won't drop their asking price because their home / their area is entirely immune to external economics.

Tingdene's newsletter announces: LTB. Let To Buy. This is how it works:

"Most people have heard of a similar scheme called buy to let which is where a buyer can buy a property with the sole purpose of renting it out. . .

"Let to buy is in a way similar, in that the rental of a property is still involved, but do not need to find the property to rent out, as they already own it."

(* You may need to re-read the above several times.)

"In essence the homeowner will normally be looking to move, and if they have been unable to sell, and are reluctant to reduce the selling price of their home to create a sale this is an option most people do not, but should, consider, usually because they are unaware of it as a scheme."

(* Same comment as above. Tingdene Homes Ltd's economics guru is aged 10 with English as a third language.)

"As with most schemes, the figures do have to add up, but it is very simple.

"The lender will want to keep the required deposit from your equity, usually 15-25% as the Deposit. The rest of the value of the property (net of any other loans or mortgages secured on the home) will then be yours to use, in this case, to pay for your new park home.

"The conditions are similar to buy to let in that the rental income must be at a sufficient level to pay the monthly mortgage re-payments."

Failures in translation to English haven't helped here, but basically, you refuse to sell your bricks and mortar home because it'll never go down in price. Good for you, chum! Instead you buy a Tingdene which, the uncharitable would say, is created out of a caravan or two caravans stuck together, though that's somewhat harsh.

You achieve this ambition by telling the lender you wish to fund the purchase of a non-bricks and mortar property on a plot of land you'll never own from a mortgage on a real bricks and mortar property whose value will never go down because you say it won't.

As the housing market crashes to the point -- thankfully -- when all those forced into renting can at last get out of it and become buyers, you nevertheless succeed in profiting in a collapsing market by charging a monthly rental that never goes down and so is never competitive but hey, so what?

'S wonderful. As Tingdene says of the benefits of Let To Buy:

"They can benefit from any capital growth of the property whilst it is rented out."

So there you are. Let To Buy. "An option most people do not, but should, consider, usually because they are unaware of it as a scheme."

:j

puddy

codger wrote: »

Somewhat out of date, but here's the HPI regional spread:

http://www1.landregistry.gov.uk/assets/library/documents/hpireportapril2008.pdf

i thought house prices were going down, how come this shows a london increase of nearly 7%????

puddy

ive missed the caravan in harrogate, its been 'removed' has a canny buyer arrived?

codger

jenner wrote: »

ive missed the caravan in harrogate, its been 'removed' has a canny buyer arrived?

Mine, all mine!

Sorry to freeze you out but this Let To Buy thing is brilliant, I mortgaged our home yesterday via a very friendly online broker in Delaware, not sure where that is but no matter, as soon as he heard the point of the loan was to fund a caravan, he said, go for it.

I've mortgaged more than I meant to but he said there was a bubble in Dutch tulips and I should get in now before it bursts.

Why no-one on here ever comes up with advice like this, I've no idea.

puddy

in that case, im on the look out for sheds, funded by moroccan marigolds

AceCobra1

Apparently my mate said that the prices in Dundee is still continuing to go up. He is not someone who talks crap but do you guys have any 'proof' that Dundee is property prices are going down too ?

I was just looking at this and it seems that most places have a - sign in thier quarter prices but a + sign in the annual bit... what does it mean?