I don't see how that exposes a flaw in my reasoning....
Friends been forced to move or pay more rent
- Thread starter gasbanni
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I don't see how that exposes a flaw in my reasoning....
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Sorry chap, dream on, house prices are rising slightly in this neck of the woods (Bristol) a house i bought 6yrs ago, just before the "hedge funds" reared its ugly head is now being sold, i'm making £20k on the deal, if i were to sell the house i bought at the same time but in my road i would clear £90k but the prices in this area of Bristol are on the up so i would be daft to sell it now.
House prices on the whole are static in the UK but not for ever, the thing that will change is your take home pay, as we come out of recession inflation will take a step forward and up.
House prices on the whole are static in the UK but not for ever, the thing that will change is your take home pay, as we come out of recession inflation will take a step forward and up.
That's not what the actual real data from the Land Registry says. Prices in Bristol are down 3.5% year on year and have been decreasing steadily since April 2011.
You can find the data on the Land Registry site. It's the only data you can believe because it's the only place that really knows what prices are doing.
But you should run your property portfolio as a business and you decide when to sell. Making £20k over 6 years wouldn't attract me given all the hassle of dealing with tenants and the risk that you could lose a lot of money if house prices crashed. Which they will... So I'd get out now. You should diversify your investments and it's a mug who keeps all his assets in the one basket called property right now.
And you still haven't explained why what I said is flawed. That's because you can't because what I said is accurate.
You can find the data on the Land Registry site. It's the only data you can believe because it's the only place that really knows what prices are doing.
But you should run your property portfolio as a business and you decide when to sell. Making £20k over 6 years wouldn't attract me given all the hassle of dealing with tenants and the risk that you could lose a lot of money if house prices crashed. Which they will... So I'd get out now. You should diversify your investments and it's a mug who keeps all his assets in the one basket called property right now.
And you still haven't explained why what I said is flawed. That's because you can't because what I said is accurate.
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Don't take my word for it, phone C.J. Hole est. agents on 01179 629221
and ask them what the house prices are doing in Henleaze and Westbury on Trym,
If £20k profit isn't negative equity after 6yrs it's close enough FFS!
The other house i've got in my road has done far better and as i'm able to port my mortgage, i hope to buy another in my area, as i've said before they are increasing the size of Southmead hospital and there is going to be an influx of medical staff that is already having a positive effect on local house prices.
Influx of Polish docs & Nurses ?.
NO!!!
ROMANIAN!!!!! Brain surgeons, anethetist and heart specialist apparently.
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House sales set to increase in 2013
Wednesday 30th January 2013
House sales across the UK look set to increase as chartered surveyors' expectations for the coming three months rose significantly, according to the latest RICS housing market survey.
Last month, 24% more surveyors across the country predicted transactions to rise rather than fall over the next quarter. This more positive outlook comes at a time when confidence has been growing that the market in some parts of the country may now be over the very worst.
In tandem with this, prices held steady during December. Notably, this is the first time since June 2010 that the national price balance has not been negative and - with prices forecast by RICS to rise by two percent during 2013 - it seems that the market in some areas of the country may have started to bottom out.
Furthermore, this stability looks set to persist with surveyors no longer taking a negative view of the price outlook between now and March. This is the first time that respondents have not predicted further drops over the following three months since the summer of 2010.
Turning to market activity, the number of homes coming up for sale remained relatively stable last month, while demand from would-be buyers saw a continued increase. During December, a net balance of 12% more surveyors reported an increase in new buyer enquiries. This reading has now been in positive territory for four months.
Across the UK, London once again bucked the overall trend and saw significant increases in prices, while the North East and Wales saw the biggest drops. Notably, prices in the West Midlands stabilised last month; this represents the first time in over two and a half years that prices have stopped falling.
Peter Bolton King, RICS Global Residential Director, said: "As we start the new year confidence to the housing market does appear to be improving, helped in part by the impact of the Funding for Leading Scheme. Indeed, our members are predicting that transaction levels will continue increasing in many parts of the country and it may be that we are now over the very worst.
"That said, more still needs to be done to ensure potential buyers can access the market at every level. Alongside this, there is still a clear need for more homes to be built."
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George Bailey
Oh dear! it just gets worst & worst, doom & gloom.
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Rents in London more than double those in North East
Wednesday 30th January 2013
Tenants in Greater London are paying average rents which are 132% more expensive than those living in the North East, according to research conducted by Homelet.
The Homelet December Rental Index reveals that the average cost of renting a home in London - the most expensive UK region - increased by 6.9% against the same time last year to £1,212 per month. In contrast, average rents in the North East increased by just 0.8% to £523 per month - and has consistently remained the least expensive region in the UK to rent a home.
Average rents within the 12 areas within Greater London range from £779 per month in Dartford, to £1,689 per month in West London. When comparing West London's rental amounts with those in the North East of England, they're a significant 223% more expensive.
Around the rest of the UK, the average cost of renting a home increased by 4.7% from December 2011 to £782 per month. This is contrary to the average income of tenants that decreased over the same period by 0.3% to £27,799 per annum.
Ian Fraser, managing director at HomeLet, said: “The high level of overseas investors in London's property market has helped to drive property prices up, particularly for residential homes in the more exclusive boroughs. But the growing demand for rented property throughout the Capital is really driving an increase in rental values - with rising rents offering an increasingly attractive return for those who have the capital to invest in property.
"As confidence and demand in the private rented sector grows, so will overseas investment, and landlords will continue to maximise the return from their properties. However, this may also increase the purchase value of homes within these areas, and consequently affect people's ability to become a home owner...thereby driving demand for rental homes, and average rents, even higher.”
Fraser continued: “The government has pledged to ease this situation by offering funding and introducing schemes to aid the development of new homes - specifically for private rent. Until then though, it appears rents in Greater London will continue to increase at a much higher rate than in other regions, such as the North East - and those who want to live in desirable locations, due to employment for example, may have to remain in rented homes due to inflated property values pricing them out of the ownership option.”
If its any consolation to your homeless friends we have a very nice bridge here in Bristol over the Avon Gorge, it is very popular with people who are feeling a bit down, they come from far and wide and FALL for its scenery.
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So one of these friends doesn't not receive any benefits and pays full rent,
his rents going up because of under occupancy.
So is it better for it to be given to a large family on benefits rather than someone paying the rent as is the case now ?
A family on benefits will not pay a penny rent, the taxpayer will pick up the bill.
Which is the best option ? I know what i think
his rents going up because of under occupancy.
So is it better for it to be given to a large family on benefits rather than someone paying the rent as is the case now ?
A family on benefits will not pay a penny rent, the taxpayer will pick up the bill.
Which is the best option ? I know what i think
He doesn't pay full rent though does he, he still pays probably less than half the going rate.
Well if things were run your way, once someone entered council housing, they would never ever leave, and would permanently be subsidised for the rest of their life.
Creating such welfare dependency is just cruel and evil.
I got a council house when a student in London, was on Tower Bridge Road so a good central location. Frigging ridiculous, gave it to three single males aged 20 years old, they handed them out like they were going out of fashion. Only regret in me life is not buying it, could be living comfortably off the rental income and what the mrs makes. Thought it wasn't right to keep it so when left London ten years later I handed it back. Stupid stupid idiot.
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What do you mean he doesn't pay full rent ? you resent he doesn't pay inflated private rent rates ? he pays the rent in full asked of him.
Welfare dependency ? he isn't on any welfare but giving the house to a large welfare dependent family would be doing exactly the thing your complaining about seems you want your cake and eat it to me.
Going round in circles here, as others also pointed out, his rent is cheaper because some of the difference is subsidised.
Because council houses are free to build/maintain and grow on trees, of course he is on welfare.
You want him to stay dependant upon welfare, rather than living by his own means.
Social housing should be to serve a need, not to provide lifetime accommodation, lifetime welfare.
Why do you want to create a people that are dependant upon welfare, your short-sightedness is corrupt and evil, it's attitudes like yours that have created hordes of unemployable chavs fit for nothing but more welfare.
Shame on you.
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