House Prices

[Lanavalentine]

Nah - disrespectful are just that - they don't notice damage and can't be bothered to report things to the landlord/agent when it first goes wrong. References are everything and getting 3 months rental, if not 6, up-front. Make it clear in the rental agreement that you will be coming round every 3 months for an inspection. Good luck.

Good luck with what exactly? I am not a tenant nor landlord and I have no plans to be either.

I didn’t say there weren’t disrespectful tentants out there… of course there are. My point was that a better maintained property might actually help in attracting a more respectful tenant.

I can’t imagine many people can afford six months rent up front. But tell me again how all landlords are terrific, amazing people helping out their tenants. Your post has essentially proven what half the posters on this thread are saying - that being a landlord is all about money, and exploiting people to get that money. No thanks.

 

[Yel]

I think that user is just trolling.

Very toxic attitude to blame people if they can't afford to buy a house at a moment in time where it's the most difficult it's been for many decades. Working hard really doesn't pay off.

And not everyone would want to make money out of something that's exploitative and causing misery.

 

[heretoreaditall2019]

Landlords can’t be nice in the same way businesses can’t be nice. And before I start beef there’s a huge difference between someone moving abroad for a dream job or in with a partner for a year to test the waters and temporarily leasing their home to someone and a for business endeavour.

I live in a lovely area on a nice road and yet the rented houses stick out like sore thumbs, they’ve just not had the same investment in them as owner occupied because….. it eats into profit margins! I don’t think it’s fair to put families in houses with shit double glazing from the 80s or damp, if you wouldn’t live with it why should they? My neighbours rent and take immaculate care of a property their (serial!) land lady can’t be fucked to. The cosmetic work is done but the big ticket items actually reduce their quality of life eg a serious issue with their guttering causing floods through the garden door! Their boiler breaks every few months leaving a family of 4 without hot water for days on end, £3k to get a new boiler would be nothing to her yet she’s too tight to.

Sadly the majority of houses are bought to let (that’s an official figure!) as a lot of people round here are dying off in properties that need serious modernisation (eg central heating putting in, all decor replacing, new kitchen and bathroom immediately as they’re unliveable) the only people who can afford to buy them are developers or LLs. I currently know and love all my neighbours (including renters) but it just takes one shit landlord to buy 3/4 houses and churn through a few awful tenants to really change the dynamic of an area.

This is not saying if you rent you’re not a great neighbour btw, it’s just a concern when it’s in the volumes the market currently sustains? And the sort of LL this market encourages is not a good one. A friend lived next to a LL who rented to an “unhousable” (his words not ours) family as he had a guaranteed tenancy on a shithole paying above market rates. The shit she went through was unreal. It is a huge concern and will undoubtedly be the straw that breaks the camel’s back and pushes us out of London.

ETA - I would welcome social style tenancies on these very old houses. If the council were to use them as a way to buy cheaper stock (not that they’re even cheaper at the moment tho) and fit it out as a council house that would be SO much better for society and the area than landlords trying to squeeze HMOs in every fucking road

 

[navybluewolf]

Another update! We went to see another house this morning. Unfortunately it wasn't for us. It was made of wood and had a flat roof and looked very rotten on the outside, which worried us. Estate agent said it's already under offer. It's been on the market for less than a week. If they want to buy a house made of wood, more power to them.

 

[Rxt156]

 

[Yel]

Hopefully we will have nice neighbours

Isn't that the dream I honestly don't care about my next house too much, just want neighbours that aren't shits.

I don’t understand the hate on here for landlords. It’s supply and demand. People need/want to rent, therefore landlords provide this service. With investing people can make money investing in morally questionable companies. Yes people have taken advantage of a situation if they’ve been lucky enough to make money from their house. Don’t be bitter about it.

It's not difficult to get. People have borrowed money to speculate on houses, pushed up the prices and forced other people to rent.

Now they should just be happy that they've been outpriced and by landlords often seen as an underclass? It's nothing to do with supply and demand as it's been a fixed market for many years to ever stop them falling.

I'd have more respect for landlords if they just admitted they want other people to go out all day to pay off their mortgage so they don't have to work. But instead they often pretend as if they're the pillars of society.

People are perfectly entitled to complain about an unfair system and the fast-rising generational inequality. Just labelling them as bitter when there are genuine concerns isn't helping anyone.

 

[Choupette]

Really interesting thread. I’m hoping to move back to the UK in December after several years abroad and hoping purchasing my first house early next year.. I really hope house prices drop (sorry for anyone who might be selling) but it’s just so damn difficult to try and buy a decent house in a nice area. UK salaries just don’t equate with house prices at all! It’s insane.

 

[Moe]

Rewind the clock 21/22 years ago and that’s when property started to rise ridiculously.
Labour had swept into power in 97. They were so busy cosying up with the bankers and letting all the dirty money from Russia and the rest of the world sweep into London. They did absolutely fuck all to stop this and most of them ended up with huge portfolios.
They introduced the buy to let promoting it as your future pension fund.
They managed to kill off social mobility whilst they were all privileged with no university fees and given grants in their time.
The Tories have never given a shit but I hate Labour to this day for betraying the people they should have helped.
Champagne fucking socialists.

 

[Lanavalentine]

The whole system is broken. I am sad that some people can’t see this. The cost of living (including property) has risen so much and wages have not. 30+ years ago, those on lower wages or single income families could still afford to buy a house more often than not.

I grew up in a working class family and my parents struggled at times, with my mum working nights in her care job and as a lunchtime supervisor at school to make extra money. They still managed to buy a house! Sure, it was small and dilapidated and in an area many would scoff at, but they managed it and there was never a question they wouldn’t.

I know various posters would probably applaud their efforts, but the point is that it was almost 40 years ago - I don’t think that is really possible anymore in the South East (where we live). At least not without an inheritance or some kind of windfall.

My childhood home was actually up for sale about 2 years ago, for around £500k. We’re talking a two up, two down terraced house with the only bathroom at the front of the ground floor, right by the front door. I’m not sure what my parents paid, but I can see on Rightmove that it was sold for £69k in 1998, so my parents most likely paid a lot less than that.

 

[Bitofthebubbly]

House prices fall for first time this year

Average prices dropped by 0.3% in August, says Rightmove, as demand for bigger houses shrinks.

www.bbc.co.uk

Little fall in house prices

0.3%??? Quick everyone there are bargains to be had!

 

[heretoreaditall2019]

Omg this discussion is such bad Tory vibes

 

[heretoreaditall2019]

I have always always always wanted to live in a new build!

Oh my love no no no, ex council stock is SO MUCH better made as building standards for council were so much higher back then! You’re in a brilliant solid house!

New builds are awful, I know they look crisp and fresh but a few months in they’re grubby af, all the fittings are cheap and nasty, you pay a premium to buy them but everything needs ripping out and replacing in 2-3 years. I lived in a new build flat and the kitchen was literally disintegrating before us, despite the fact we barely cooked in it - probably 3 dinners a week? And then there’s the issue of re selling them, I’ve heard a lot of people have ended up making a loss, and then you’ve got the cladding scandal, sorry writing this out frantically like a mad woman but you couldn’t give me a new build for free tbh. I know it’s shit to live in the chaos but take the time to ~renovate~ your house and it’ll be a lot higher spec than a new build and worth a lot more too x

 

[Nebbymoo]

Weve been trying to book viewings for months and as yet have not managed to actually view a single house with a view to buy. Suddenly over the past 2 weeks alot of these houses are back available on the market as sales have fallen through. I refuse now to entertain the estate agents offering the viewings as I am very much of the mindset we wasnt good enough in the first place so our money isnt good enough now. But it does seem that now things are slowing down. Not only are houses back on the market but they are being reduced in price in our area too. All very positive I'd say So we are going to hold out for a couple of months in the hope something comes along that we love and can hopefully get a viewing on.

 

[kazizzle]

Glad its not just me thats straight on rightmove when you realise a house on your street is up for sale.

My next door neighbour is selling her house (I am gutted as we get on really well) and I’m checking Rightmove constantly to see if it’s up yet so I can see inside as I’ve never been in

 

[Lollipop2123]

We are hopefully moving house within the next couple of months. I've sold my current house for more than what it was up for in January. We are desperate to move somewhere bigger and stamp duty cut is a welcome saving of over 10k for us. Maybe I'm super naive but I want to move house and I'm not putting my life on hold any longer. We've not over stretched ourselves and are buying a property that is reasonably priced (based on the last 12 months of sold figures). I am happy with my choice and am not willing to wait any longer.

 

[Mamacita]

I was also born in the 90’s. But I have worked hard and saved and have now sold my first home looking to buy my second. (On my own I might add with one income) It’s what you make of it. If you were able to do something that would make you money I’m sure you would. It just comes across as very bitter saying that landlords want to not work and have others pay their mortgage - of course, who wouldn’t want that?! I have been a student and rented. Landlords are necessary and it’s a service that wouldn’t be there but for these people able to buy a second property and rent it out to you

I think that's pretty rich to imply those who haven't been able to buy didn't work hard it's not always what you make of it, lots of people work hard and still can't afford a house. In some places the prices are extremely unaffordable.

 

[Lanavalentine]

Again, not any kind of expert, but my motto regarding finance right now is “prepare for the worst and hope for the best”.

We’re definitely entered into a period of uncertainty. I wouldn’t want that to bite me on the arse. Hope the “just spend less” are paying attention (soz can’t resist the dig )

 

[littlepup]

Is anyone else in the process of / thinking of buying just now? I’m really worried I’ll pay a hugely inflated price and then the market will crash

We're holding off. It's a gamble but the 25% increase on asking in one year that we're seeing in our area cannot be sustainable. Sales are falling through and coming back to market 2-3 months later £20k more.
People will surely be in negative equity after this.
It's fine if you are keeping the house for 5+ years to wait for it to come back of course. For us it would be a stepping stone home though.

 

[navybluewolf]

Oh my God this is the same thing in my neighborhood.

The average price is 345k yet some houses are rotten! I mean mold everywhere, bathtubs are all black, the bedrooms are cluttered and the carpets haven't been changed since Jesus walked on Earth.

I would rather buy an absolute dump for less than 100k and re-do it completely than pay 345k and put 100k in renovations. Some people will pay their mortgage until their last breath.

It's £950k for a 3 bed semi around here. Just an ordinary semi detached. I've lived here my entire life, and we're having to leave and live elsewhere because house prices are so ridiculous. It just feels, unfair somehow?

 

[Lanavalentine]

This gets so tedious! If only people just admitted they were born at the right time to buy rather than patting themselves on the back and thinking they're a wealth management expert .

Even worse is the BTL people who remortgage to pump more unearned money back into houses, helping push up prices and outbid first time buyers and then they think they're some genius buisness man/woman. It's not difficult signing forms to take out mortgages!

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And what happens after June and in September when the stamp duty cuts are gone completely?
View attachment 669533

The guardian is just as bad as the mail or sun at baiting for a reaction
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Well, at least those Twitter replies give me hope.

Buy-to-let mortgages are the scourge of our housing market. It’s one thing renting out property you own outright, but it’s quite another to use a buy-to-let mortgage to exploit people.