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AtW
13th January 2016, 16:24
Made an offer for my flat...

Had it offered to me, agreed but failed to complete in 2011 for a lot less money, £60k in rent flushed down the toilet from that point in time :eyes

MrMarkyMark
13th January 2016, 16:27
Made an offer for my flat..

:eek:

DOOMED, DOOMED, rising house prices are over for the foreseeable....




:eyes

vetran
13th January 2016, 16:29
No,No wait until Corbyn's revolutionary Army hands you a free house taken from the filthy Boomers.

Love MM!

DimPrawn
13th January 2016, 16:30
Made an offer for my flat...

Had it offered to me, agreed but failed to complete in 2011 for a lot less money, £60k in rent flushed down the toilet from that point in time :eyes

http://www.dumblittleman.com/wp-content/uploads/2014/05/Losers.jpg

PurpleGorilla
13th January 2016, 16:35
No,No wait until Corbyn's revolutionary Army hands you a free house taken from the filthy Boomers.

Love MM!

Viva la revolution!

DimPrawn
13th January 2016, 16:42
Komrade Korbyn with turn the housing market on its head!

https://www.thehouseshop.com/property-blog/wp-content/uploads/2015/11/tressenheide.jpg

MrMarkyMark
13th January 2016, 16:47
Komrade Korbyn with turn the housing market on its head!

I believe that those are, actually, some of Cameron and Gidiots "new builds".....

DimPrawn
13th January 2016, 16:49
If you like weird house ideas:

https://www.thehouseshop.com/property-blog/50-weird-homes-from-around-the-world/5754/

Pretty dull ambition to own a bedsit in Brum.

AtW, buy a small plot of land and stick something interesting on it as your first "home".

AtW
13th January 2016, 16:52
AtW, buy a small plot of land and stick something interesting on it as your first "home".

I am buying a sofa first :eyes

ChimpMaster
13th January 2016, 16:57
Made an offer for my flat...

Had it offered to me, agreed but failed to complete in 2011 for a lot less money, £60k in rent flushed down the toilet from that point in time :eyes

Interesting. The price of your flat must have almost doubled in that time.

I'm putting one of my BTLs up for sale... the market is looking a little frothy to me and there are plenty of headwinds coming into play over the next couple of years.

AtW
13th January 2016, 17:01
Interesting. The price of your flat must have almost doubled in that time.

I'm putting one of my BTLs up for sale... the market is looking a little frothy to me and there are plenty of headwinds coming into play over the next couple of years.

+50k if they accept offer, which appears to be market price ...

Lots of tulip will happen in next few years, but it's a nice flat and I've got to live somewhere during those turbulent times...

DimPrawn
13th January 2016, 17:16
+50k if they accept offer, which appears to be market price ...

Lots of tulip will happen in next few years, but it's a nice flat and I've got to live somewhere during those turbulent times...

Less than 10% of an IT contractor divorce, I wouldn't sweat it. :smokin

OwlHoot
13th January 2016, 17:42
If you like weird house ideas:

https://www.thehouseshop.com/property-blog/50-weird-homes-from-around-the-world/5754/

Great page, although on a brief scan of it I didn't see that hair-raising house built half way down a massive sea cliff face in Australia :eek:



Live long and prosper in this home designed to replicate the interior of the Star Trek Voyager spaceship, complete with LED lighting and intergalactic sound effects. The mad property was built by Tony Alleyne but was handed over to his ex-wife following court proceedings.

.. who probably divorced the poor mug because of his Star Trek obsession, and has since ripped out all the "spaceship" furnishings :eyes

OwlHoot
13th January 2016, 18:02
... I didn't see that hair-raising house built half way down a massive sea cliff face in Australia :eek:

This five-storey one:

http://i.dailymail.co.uk/i/pix/2014/09/09/1410272725270_wps_5_MUST_CREDIT_MUST_HYPERLIN.jpg

You'd have to remember not to put the cat out at night, or step out of the back door yourself!

d000hg
13th January 2016, 18:06
Wow, that place is amazing.


I am likely, due to dying relatives, to end up (co-)owning 4 bloody houses at some point this year. Talk about a lop-sided portfolio. And only one of them is in the south :(

DimPrawn
13th January 2016, 18:09
I am likely, due to dying relatives, to end up (co-)owning 4 houses at some point this year.


http://www.youtube.com/watch?v=XOhZgAPn_CU

d000hg
13th January 2016, 20:09
Ha. I am not really looking forward to it, I'm already an accidental landlord and hate it.

jamesbrown
13th January 2016, 21:01
This five-storey one

Can you imagine getting that through our planning system? :eyes

Troll
13th January 2016, 21:10
Wow, that place is amazing.


I am likely, due to dying relatives, to end up (co-)owning 4 bloody houses at some point this year. Talk about a lop-sided portfolio. And only one of them is in the south :(You'd be surprised at the amount of time dealing with these takes

Scruff
13th January 2016, 21:54
I am buying a sofa first :eyes

I thought that you were "nearly an oligarch"?

NickFitz
13th January 2016, 22:51
.. who probably divorced the poor mug because of his Star Trek obsession, and has since ripped out all the "spaceship" furnishings :eyes

You might want to clear the ship's computer's cache before moving in: Star Trek fan Anthony Alleyne jailed for child porn offences - BBC News (http://www.bbc.co.uk/news/uk-england-leicestershire-23994131) :eyes

AtW
14th January 2016, 00:06
Less than 10% of an IT contractor divorce, I wouldn't sweat it. :smokin

Aye, matey ...

AtW
14th January 2016, 00:09
I thought that you were "nearly an oligarch"?

The keyword is nearly matey...

OwlHoot
14th January 2016, 10:33
You might want to clear the ship's computer's cache before moving in: Star Trek fan Anthony Alleyne jailed for child porn offences - BBC News (http://www.bbc.co.uk/news/uk-england-leicestershire-23994131) :eyes

"Those aren't kids, you hounour. They're immature tribbles."

MrMarkyMark
14th January 2016, 10:38
I am likely, due to dying relatives, to end up (co-)owning 4 bloody houses at some point this year. Talk about a lop-sided portfolio. And only one of them is in the south :(

http://i.dailymail.co.uk/i/pix/2013/01/10/article-2260386-16DCA922000005DC-657_634x376.jpg

DimPrawn
14th January 2016, 10:43
http://i.dailymail.co.uk/i/pix/2013/01/10/article-2260386-16DCA922000005DC-657_634x376.jpg

They look like smug boomers, don't let MM see that!

fullyautomatix
14th January 2016, 11:01
+50k if they accept offer, which appears to be market price ...

Lots of tulip will happen in next few years, but it's a nice flat and I've got to live somewhere during those turbulent times...


AtW, what happened to the detached 5 bed you were looking at ?

Also, i am curious, your search engine is better than Google and is valued in 10s of millions at least, why are you buying a flat ?

vetran
14th January 2016, 11:10
AtW, what happened to the detached 5 bed you were looking at ?

Also, i am curious, your search engine is better than Google and is valued in 10s of millions at least, why are you buying a flat ?

He doesn't want the removal men to see his Gold Lamé gimp suit

PurpleGorilla
14th January 2016, 11:41
They look like smug boomers, don't let MM see that!

https://s-media-cache-ak0.pinimg.com/236x/2f/1c/fd/2f1cfd49184635960b0f6f4960355bba.jpg

AtW
14th January 2016, 14:02
AtW, what happened to the detached 5 bed you were looking at ? Also, i am curious, your search engine is better than Google and is valued in 10s of millions at least, why are you buying a flat ?

Didn't like that 5 bedroom house, stupid layout - I am not the type who can do DIY inside to make it nice. My flat is good, two parking spaces behind gates, very large (1500 sq ft), I need to live somewhere - I've calculated that I'll need 10% bank savings rate (factoring here tax) for the same money to make up for rent I pay.

This time next year Rodney! :smokin

MrMarkyMark
14th January 2016, 14:05
This time next year Rodney! :smokin


BOOMED!!!!!

ChimpMaster
14th January 2016, 14:12
Didn't like that 5 bedroom house, stupid layout - I am not the type who can do DIY inside to make it nice. My flat is good, two parking spaces behind gates, very large (1500 sq ft), I need to live somewhere - I've calculated that I'll need 10% bank savings rate (factoring here tax) for the same money to make up for rent I pay.

This time next year Rodney! :smokin

1500 sq ft is large? Are you a mouse?

Also with flats you will be paying a service charge and ground rent, and you will be running down the clock on the lease, eventually resulting in a reduction in the value of the property. I hope you've thought through these points.

jamesbrown
14th January 2016, 14:24
1500 sq ft is large? Are you a mouse?

Also with flats you will be paying a service charge and ground rent, and you will be running down the clock on the lease, eventually resulting in a reduction in the value of the property. I hope you've thought through these points.

1500 sq ft is pretty large for a flat. However, you're right on the substance. FWIW, pretty much the only developments in my part of the SE that haven't appreciated over the last ten years are flats with relatively short leases (<125yrs) and high service charges.

DimPrawn
14th January 2016, 14:25
1500 sq ft is large? Are you a mouse?

Also with flats you will be paying a service charge and ground rent, and you will be running down the clock on the lease, eventually resulting in a reduction in the value of the property. I hope you've thought through these points.

How big is a house? Average house size by country | shrinkthatfootprint.com (http://shrinkthatfootprint.com/how-big-is-a-house)

US home size has fallen a little since the recession, to 201 m2 (2,164 ft2) in 2009. UK house size is relatively small at 76 m2 (818 ft2) while Canadian houses are quite big at 181 m2 (1,948 ft2). For China the data only reflects urban properties, which now average 60 m2 (646 ft2) and have almost doubled in size in the last 15 years.

DimPrawn
14th January 2016, 14:27
1500 sq ft is large? Are you a mouse?

Also with flats you will be paying a service charge and ground rent, and you will be running down the clock on the lease, eventually resulting in a reduction in the value of the property. I hope you've thought through these points.

How big is a house? Average house size by country | shrinkthatfootprint.com (http://shrinkthatfootprint.com/how-big-is-a-house)

US home size has fallen a little since the recession, to 201 m2 (2,164 ft2) in 2009. UK house size is relatively small at 76 m2 (818 ft2) while Canadian houses are quite big at 181 m2 (1,948 ft2). For China the data only reflects urban properties, which now average 60 m2 (646 ft2) and have almost doubled in size in the last 15 years.

PS Average Australian house is 243 sq metres, or 2615 sq feet. This is another reason why a lot of people I know have left this shithole country. Their house is 4x that of their old UK house for the same money.

AtW
14th January 2016, 14:29
1500 sq ft is large? Are you a mouse?

It's ok for two bedroom flat (3 really with mezzanine on 3rd level).


Also with flats you will be paying a service charge and ground rent, and you will be running down the clock on the lease, eventually resulting in a reduction in the value of the property. I hope you've thought through these points.

That is true. Flat owners will have vote in management company that was created and decide how to spend, right now I was informed expected service charges are £ 800 per quarter, I believe that includes ground rent.

All flats are Leasehold- tenure is 999 years apparently, should be enough for property crash to happen ...

Flat size is actually 1638 sq ft

New build houses are small, and flats especially - I've seen one two days ago in same area, new 2 bedroom flat, £1100 rent (already more than mine), just 1 parking space - I doubt it's even half the size of mine.

MrMarkyMark
14th January 2016, 14:32
FTFY



That is true. Flat owners will have vote in management company that was created and decide how to spend, right now I was informed expected service charges are £ 800 per quarter, for which they will do absolutely nothing, I believe that includes ground rent.

ChimpMaster
14th January 2016, 14:45
It's ok for two bedroom flat (3 really with mezzanine on 3rd level).



That is true. Flat owners will have vote in management company that was created and decide how to spend, right now I was informed expected service charges are £ 800 per quarter, I believe that includes ground rent.

All flats are Leasehold- tenure is 999 years apparently, should be enough for property crash to happen ...

Flat size is actually 1638 sq ft

New build houses are small, and flats especially - I've seen one two days ago in same area, new 2 bedroom flat, £1100 rent (already more than mine), just 1 parking space - I doubt it's even half the size of mine.

Service charge is normally paid 6-monthly. £800/quarter is far too much unless you're somewhere special like central London. £800/6 months is probably more likely, but still a sting of an extra bill at £130/month for which you'll get nothing.

Otherwise sounds good though, esp. the lease length and flat size.

AtW
14th January 2016, 15:10
Service charge is normally paid 6-monthly. £800/quarter is far too much unless you're somewhere special like central London. £800/6 months is probably more likely, but still a sting of an extra bill at £130/month for which you'll get nothing. Otherwise sounds good though, esp. the lease length and flat size.

I am told that service charge will be decided by flat owners who will have share in management company, leasehold is probably owned by that company. I'll get advice from personal lawyer on this, they'd get all details.

There are some risks in it - front gates are listed I suspect, and bell tower also, other than that it's brand new building built in 2007 or 2008.

Right now I need place to live somewhere I like, and even if monthly service charge is £250 then I can live with that, if it's £130 per month then it's very nice, for me I'd be saving £1300-1500 per month on rent, nice secure parking for my future posh motors :wink

PurpleGorilla
14th January 2016, 15:18
How big is a house? Average house size by country | shrinkthatfootprint.com (http://shrinkthatfootprint.com/how-big-is-a-house)

US home size has fallen a little since the recession, to 201 m2 (2,164 ft2) in 2009. UK house size is relatively small at 76 m2 (818 ft2) while Canadian houses are quite big at 181 m2 (1,948 ft2). For China the data only reflects urban properties, which now average 60 m2 (646 ft2) and have almost doubled in size in the last 15 years.

PS Average Australian house is 243 sq metres, or 2615 sq feet. This is another reason why a lot of people I know have left this shithole country. Their house is 4x that of their old UK house for the same money.

New UK houses are like tins of Quality Street. Twice the price for half the size.

http://1.1.1.3/bmi/i.dailymail.co.uk/i/pix/2015/12/16/17/2F6D4AA800000578-0-image-a-2_1450286896676.jpg

OwlHoot
14th January 2016, 16:29
How big is a house? Average house size by country | shrinkthatfootprint.com (http://shrinkthatfootprint.com/how-big-is-a-house)

UK house size is relatively small at 76 m2 (818 ft2) ...

That can't be right surely. The places I see on Zoopla are usually at least 2,500 ft^2.

Also, my gaff, which isn't very large, is over eight times that floor area.

Mind you, I drive past some new houses being built near clientco, and they are literally little larger than my garage. It's enough to make one weep.

The Government really should stop letting hordes of immigrants into the country, or new houses will just get smaller and smaller!

MrMarkyMark
14th January 2016, 16:33
FTFY


Also, my gaff, which isn't very large, is over eight times that floor area, and that part just houses my staff.

OwlHoot
14th January 2016, 16:49
Nearly right



Also, my gaff, which isn't very large, is over eight times that floor area, and that part just houses my stuff

AtW
14th January 2016, 17:29
That can't be right surely. The places I see on Zoopla are usually at least 2,500 ft^2.
Also, my gaff, which isn't very large, is over eight times that floor area.

2500 sq ft is 232 sq meters, and you've got a "gaff" 8 times bigger??? :eyes

MicrosoftBob
14th January 2016, 17:44
That can't be right surely. The places I see on Zoopla are usually at least 2,500 ft^2.

Also, my gaff, which isn't very large, is over eight times that floor area.

Mind you, I drive past some new houses being built near clientco, and they are literally little larger than my garage. It's enough to make one weep.

The Government really should stop letting hordes of immigrants into the country, or new houses will just get smaller and smaller!

You should see the size of ones built in South Wales when coal become a commodity, they were as small as 6' by 7' to fit a whole family, that probably is the future at this rate

OwlHoot
14th January 2016, 17:45
2500 sq ft is 232 sq meters, and you've got a "gaff" 8 times bigger??? :eyes

No, I don't live in a palace! I was referring to the 818 sq feet figure.

AtW
14th January 2016, 18:10
No, I don't live in a palace! I was referring to the 818 sq feet figure.

818 sq ft sounds about right for average house, which is tiny - in London it's even worse: square ft are smaller! :eyes

DimPrawn
14th January 2016, 23:13
British homes are the smallest in Europe, study finds - Telegraph (http://www.telegraph.co.uk/finance/property/10909403/British-homes-are-the-smallest-in-Europe-study-finds.html)

Expensive shitboxes.

AtW
14th January 2016, 23:16
British homes are the smallest in Europe, study finds - Telegraph (http://www.telegraph.co.uk/finance/property/10909403/British-homes-are-the-smallest-in-Europe-study-finds.html) Expensive tulipboxes.

My family in USSR/Russia lived in flat of maybe 37 sq meters, supposedly 3 bedroom, but in British terms it was 2 bedroom + living room. 6th floor too - elevator wasn't always working :eyes

DimPrawn
14th January 2016, 23:19
My family in USSR/Russia lived in flat of maybe 37 sq meters, supposedly 3 bedroom, but in British terms it was 2 bedroom + living room. 6th floor too - elevator wasn't always working :eyes

I've seen four bedroom new builds, 1 bedroom big enough for double bed (and nothing else). 2 bedrooms big enough for single beds only, and 4th "bedroom" is just big enough for a babies cot.

These are "executive" family homes with a price tag to match. :laugh

AtW
14th January 2016, 23:24
I've seen four bedroom new builds, 1 bedroom big enough for double bed (and nothing else). 2 bedrooms big enough for single beds only, and 4th "bedroom" is just big enough for a babies cot. These are "executive" family homes with a price tag to match. :laugh

Yup, seen those here too - 4-5 bedroom "executive" houses, priced: £ 450-600k :eek

PurpleGorilla
14th January 2016, 23:24
British homes are the smallest in Europe, study finds - Telegraph (http://www.telegraph.co.uk/finance/property/10909403/British-homes-are-the-smallest-in-Europe-study-finds.html)

Expensive shitboxes.

Houses are getting more expensive and smaller. Makes this chart all the more acute;

http://www.economicshelp.org/images/housing/house-prices-nominal-67.jpg

OwlHoot
15th January 2016, 12:01
Houses are getting more expensive and smaller. Makes this chart all the more acute; ...

Would be interesting to see a combined graph of house prices, and house price per unit floor area.

The vertical axes would have to be scaled so the graphs more or less overlapped until, say, the 1980s.

DimPrawn
15th January 2016, 12:09
Houses are getting more expensive and smaller. Makes this chart all the more acute;

http://www.economicshelp.org/images/housing/house-prices-nominal-67.jpg

I keep saying this, but for the younger generation, the solution to the eye watering rents and eye watering purchase prices of miniscule UK property is to emigrate. Simples.

Australian houses are 3 to 4 times the size for the same £££. Just avoid centre of Sydney, get a public sector job in some nice suburb near one of the big cities. Kick back, enjoy the sunshine and beaches. It's quite doable and speaking to my friends that have escaped the UK, it's the best thing they ever did.

Or save up your £50K deposit for a £500K shoe box here in the freezing sleety rain and shut up.

ZARDOZ
15th January 2016, 12:22
Will be interesting to see the effect these buy to let reforms have.
They should lead to a falling market, but the usual rules of economics dont seem to apply since the early 00s. The market has become so distorted by government manipulation an open door immigration policy and underwriting the market with cheap money.

The market should be left to correct itself but I doubt it will be.

PurpleGorilla
15th January 2016, 12:53
The market should be left to correct itself but I doubt it will be.

Damn right. Burn baby burn.

DimPrawn
15th January 2016, 13:14
Damn right. Burn baby-boomers burn. :devil

FTFY

ChimpMaster
15th January 2016, 13:50
Will be interesting to see the effect these buy to let reforms have.
They should lead to a falling market, but the usual rules of economics dont seem to apply since the early 00s. The market has become so distorted by government manipulation an open door immigration policy and underwriting the market with cheap money.

The market should be left to correct itself but I doubt it will be.

The reforms will cause some investors to sell some of their properties so that they can consolidate and reduce gearing on the overall portfolio. However, this is unlikely to lead to price falls - at best you'll see some price moderation - because of a number reasons.

You're going to see that:
Rates will stay historically low for another 3 - 5 years yet. Mortgage rates have actually fallen around 0.25% in the past 6 months.
Increased immigration.
Greater rental demand.
Higher rents (caused by the Guv move to try and increasing costs on landlords).
Nowhere else for investors to make your cash work for you.

And these factors will keep property as the forerunner for investors.

The government caused this with their move to flood the economy with cheap money, but that has achieved very little for the average man in the street. Instead, we're all left to suffer a stagnant economy for what could be another 20 years. Like you said, they really should have let the economy self-correct back in 2008; we would have all been far better off now.

OwlHoot
21st January 2016, 18:16
The government caused this with their move to flood the economy with cheap money, but that has achieved very little for the average man in the street. Instead, we're all left to suffer a stagnant economy for what could be another 20 years. Like you said, they really should have let the economy self-correct back in 2008; we would have all been far better off now. ...

Because the Septics didn't "let the economy self-correct in 2008" (which I agree they should have), the UK Government couldn't either. It's as simple as that, and anyone who disputes that is deluding themselves I reckon.

If the UK had tried unilaterally then all the investment money would have flown across the Atlantic like a flock of starlings, and we'd be in a far worse, probably irremediable, pickle even than the one we're in now!

PurpleGorilla
21st January 2016, 18:48
Because the Septics didn't "let the economy self-correct in 2008" (which I agree they should have), the UK Government couldn't either. It's as simple as that, and anyone who disputes that is deluding themselves I reckon.

If the UK had tried unilaterally then all the investment money would have flown across the Atlantic like a flock of starlings, and we'd be in a far worse, probably irremediable, pickle even than the one we're in now!

Let's see the amount of tulip we get in with this unravelling now happening. I predict masses of lovely tulip.

ChimpMaster
21st January 2016, 18:56
Let's see the amount of tulip we get in with this unravelling now happening. I predict masses of lovely tulip.

You might think you'll be in a position to gloat, as perhaps other people on the sidelines might be thinking. Perhaps you believe that this is the day you've been waiting for all this time and that you will finally be able to take advantage of cheap assets whilst pointing fingers at those who will inevitably suffer greatly. The truth is far worse than what you might be expecting, and really there is very little you will be able to either prepare or to benefit from it.

PurpleGorilla
21st January 2016, 19:00
You might think you'll be in a position to gloat, as perhaps other people on the sidelines might be thinking. Perhaps you believe that this is the day you've been waiting for all this time and that you will finally be able to take advantage of cheap assets whilst pointing fingers at those who will inevitably suffer greatly. The truth is far worse than what you might be expecting, and really there is very little you will be able to either prepare or to benefit from it.

Given average joe has mountains of debt and exposure, I will be just dandy.

ChimpMaster
21st January 2016, 19:19
Given average joe has mountains of debt and exposure, I will be just dandy.

What's going to be worthwhile holding? Stocks, oil, gold, farmland, property, shotguns?

Consider this: those with debt in 2008 did very well from the 'crisis'.

Those without jobs didn't fare so well. Now, look at our friends and colleagues who are suffering the fallout from oil. You can't grow if you don't have a job, if you don't have income. It's an awful and terrifying position to be in, one that many in your generation have not yet seen.

scooterscot
21st January 2016, 20:09
What's going to be worthwhile holding? Stocks, oil, gold, farmland, property, shotguns?

Consider this: those with debt in 2008 did very well from the 'crisis'.

Those without jobs didn't fare so well. Now, look at our friends and colleagues who are suffering the fallout from oil. You can't grow if you don't have a job, if you don't have income. It's an awful and terrifying position to be in, one that many in your generation have not yet seen.

As always: land

It's the one thing they're not making anymore.

greenlake
21st January 2016, 20:16
As always: land

It's the one thing they're not making anymore.

Are you sure about that?

List of artificial islands - Wikipedia (http://en.wikipedia.org/wiki/List_of_artificial_islands)

PurpleGorilla
21st January 2016, 20:25
What's going to be worthwhile holding? Stocks, oil, gold, farmland, property, shotguns?

All of that, a bit of cash is always handy.


Now, look at our friends and colleagues who are suffering the fallout from oil. You can't grow if you don't have a job, if you don't have income. It's an awful and terrifying position to be in, one that many in your generation have not yet seen.

You gotta make the hay when the sun shines to feed your flock in the winter.

AtW
21st January 2016, 22:20
I was informed a few days ago that the person dealing with decision on whether to accept my offer for flat or not got into car accident and received head injury ...

New person was appointed - no decision yet :grey