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House prices to soar in London's commuter belt...



nicko31

nicko31

Well-known member
Jan 7, 2010
17,575
Gods country fortnightly
http://www.telegraph.co.uk/finance/...-prices-to-soar-in-Londons-commuter-belt.html

Well relative to average earnings London and the South-East is already one of the most expensive places to buy on the planet.

With house prices being driven up by the George Osborne Ponzi scheme ( help to buy ) just where will it end up? Probably with a Tory government for the next term on the basis the economy is now fixed...
 




yxee

yxee

Well-known member
Oct 24, 2011
2,521
Manchester
It will end when interest rates inevitably go up, and the people who borrowed on 95% mortgages face negative equity and possibly lose their homes. AGAIN.
 




V

Vegas Seagull

New member
Jul 10, 2009
7,782
Outer commuter HH!?!? they should get out a bit more...the LA to LB is 800 full by Hove
Anyway knight Frank predicted a 2% fall this year & London is looking at a 8 to 10% rise
The only trouble with all these rises is if you don't want to move your bank account looks the same
 








Herr Tubthumper

Herr Tubthumper

Well-known member
NSC Patron
Jul 11, 2003
59,536
The Fatherland
Jesus. I will say it again, but clearly no one is listening...has the UK learnt nothing from the past 10 years?
 






nicko31

nicko31

Well-known member
Jan 7, 2010
17,575
Gods country fortnightly
Herr Tubthumper said:
Jesus. I will say it again, but clearly no one is listening...has the UK learnt nothing from the past 10 years?
Click to expand...

House prices were making a moderate recovery which appeared to be going OK. So what do the government do......bring to help to buy stage 2 a full 6 months early. The true cost of this decision this will come after the next election. Politicians in this country learn nothing from history.

IMO, Germany is where the smart money is heading, a housing market still at sensible levels built on solid fundamentals..
 




G

Gwylan

Well-known member
Jul 5, 2003
31,337
Uffern
bushy said:
Why?
Click to expand...

Because when we were looking to move back to Sussex, HH was much cheaper than Brighton (and I certainly wouldn't describe where I lived as a prime location). We did consider it as a possibility but decided it was too quiet.

However, a friend of mine sold his house in Brighton and moved to a similar sized place in Burgess Hill and cleared his mortgage (as BH was so much cheaper). Prices are generally set by location so when an area's cheaper, it's generally for a good reason.

My only experience of HH is waiting for a train and drinking in a pub called the Burrells (sp?) Arms - it didn't strike me as an upmarket experience
 




Biscuit

Biscuit

Native Creative
Jul 8, 2003
22,220
Brighton
It's so annoying. The commuter belt is getting ridiculous, and then you add the train fare on top! I looked at one place in Biggleswade, and it was over £5,000 a YEAR?! Hertfordshire is half that but still quite a hefty amount,

I'm seriously considering leaving my relatively well paid job in the City and moving to Peacehaven or something, and working for less in Brighton. I'd actually be a lot better off at the end of each month, and I'd live in a nicer area. I'm trying to find reasons not to..!
 


S

Springal

Well-known member
Feb 12, 2005
23,830
GOSBTS
Biscuit said:
It's so annoying. The commuter belt is getting ridiculous, and then you add the train fare on top! I looked at one place in Biggleswade, and it was over £5,000 a YEAR?! Hertfordshire is half that but still quite a hefty amount,

I'm seriously considering leaving my relatively well paid job in the City and moving to Peacehaven or something, and working for less in Brighton. I'd actually be a lot better off at the end of each month, and I'd live in a nicer area. I'm trying to find reasons not to..!
Click to expand...

I am in a similar situation. The saving grace is I am only expected in the office / London meetings 3 times a week, which keeps me sane. My train fare will break the £5k a year barrier from January though - good for airmiles and credit card bonuses, but seeing that amount go out is heartbreaking.
 


The Antikythera Mechanism

The Antikythera Mechanism

The oldest known computer
NSC Patron
Aug 7, 2003
7,795
nicko31 said:
IMO, Germany is where the smart money is heading, a housing market still at sensible levels built on solid fundamentals..
Click to expand...

House prices and rents have risen dramatically in Germany in the last decade, with rents rising 15 percent between 2008 and 2013 and house prices rising 23 percent in the same period. German property has been seen as a stable, reliable investment by both local and overseas investors, and the market has been largely resilient in the wake of the 2008 financial crisis.

As property prices seem to be rising faster than wages, many feel the trend is unsustainable and are urging the government to correct it. As a result, it's unclear what the future holds. This uncertainty combined with a capital gains tax (abgeltungsteuer) of 25 percent, which applies to any property owned for less than 10 years, means that for many expats buying property in Germany is only attractive for longer stays

http://www.expatica.com/de/housing/buying/buying-a-home-in-germany-2124_9990.html
 




Herr Tubthumper

Herr Tubthumper

Well-known member
NSC Patron
Jul 11, 2003
59,536
The Fatherland


Herr Tubthumper

Herr Tubthumper

Well-known member
NSC Patron
Jul 11, 2003
59,536
The Fatherland
The Antikythera Mechanism said:
House prices and rents have risen dramatically in Germany in the last decade, with rents rising 15 percent between 2008 and 2013 and house prices rising 23 percent in the same period. German property has been seen as a stable, reliable investment by both local and overseas investors, and the market has been largely resilient in the wake of the 2008 financial crisis.

As property prices seem to be rising faster than wages, many feel the trend is unsustainable and are urging the government to correct it. As a result, it's unclear what the future holds. This uncertainty combined with a capital gains tax (abgeltungsteuer) of 25 percent, which applies to any property owned for less than 10 years, means that for many expats buying property in Germany is only attractive for longer stays

http://www.expatica.com/de/housing/buying/buying-a-home-in-germany-2124_9990.html
Click to expand...

Where did you get these figures from? Your figure of 23% seems to be well over the top of my understanding of prices. I could not see reference to it in the link you provided.

http://www.reuters.com/article/2012/05/08/germany-property-bubble-idUSL6E8EM3KI20120508
 


Biscuit

Biscuit

Native Creative
Jul 8, 2003
22,220
Brighton
The Antikythera Mechanism said:
House prices and rents have risen dramatically in Germany in the last decade, with rents rising 15 percent between 2008 and 2013 and house prices rising 23 percent in the same period. German property has been seen as a stable, reliable investment by both local and overseas investors, and the market has been largely resilient in the wake of the 2008 financial crisis.

As property prices seem to be rising faster than wages, many feel the trend is unsustainable and are urging the government to correct it. As a result, it's unclear what the future holds. This uncertainty combined with a capital gains tax (abgeltungsteuer) of 25 percent, which applies to any property owned for less than 10 years, means that for many expats buying property in Germany is only attractive for longer stays

http://www.expatica.com/de/housing/buying/buying-a-home-in-germany-2124_9990.html
Click to expand...

I don't have an figures to hand but my experience is that Germany is mostly a renting nation, and owning your own home isn't such a big deal over there.
 


Biscuit

Biscuit

Native Creative
Jul 8, 2003
22,220
Brighton
Springal said:
I am in a similar situation. The saving grace is I am only expected in the office / London meetings 3 times a week, which keeps me sane. My train fare will break the £5k a year barrier from January though - good for airmiles and credit card bonuses, but seeing that amount go out is heartbreaking.
Click to expand...

Ouch, I feel your pain. I'm not sure what the answer is to be honest. The rich/poor divide in London will only widen if something isn't done about it,
 




mejonaNO12 aka riskit

mejonaNO12 aka riskit

Well-known member
Dec 4, 2003
21,497
England
I recently had my house briefly re-valued for mortgage puposes and found it quite amusing that they quoted that as a "great location" for commuting to London. I live on the seafront nearer Newhaven than Brighton.

When we purchased the house I was still in a London job (but luckily got a job nearer to home after only 2 months of being in the house). I would say my commute to work (including bus and train and then tube) was around 3 hours and cost around a combined £6k a year . It certainly didn't feel "great" as a location then!
 


S

sten_super

Brain Surgeon
Jul 28, 2005
5,945
Cambridge, Cambridgeshire, United Kingdom
Biscuit said:
It's so annoying. The commuter belt is getting ridiculous, and then you add the train fare on top! I looked at one place in Biggleswade, and it was over £5,000 a YEAR?! Hertfordshire is half that but still quite a hefty amount,
Click to expand...

What I find most interesting about commuter-belt is the illogical 'boundaries' that seem to exist. In Cambridge, there is a huge premium for living within a 5 minute walk of the station (witness the large number of very expensive flats that have shot up around the station in the last 10 years) but move another 10 minutes out (a 15 minute walk or a 5 minute bike ride) and prices are back down to reasonable levels (for Cambridge at least). Similarly, I live on the Cambridgeshire-Hertfordshire border, one hour by train to Kings Cross (or 45 minutes if you get the right trains/connections) and it's pretty affordable. Royston, a couple of miles south of us, is 40 minutes to Kings Cross, and has a large amount of reasonably-priced housing. Yes, the town is a bit dated, but I really don't understand why it hasn't seen London workers flood in and gentrify it. The train fare is horrendous (c£5500 for a Z1-6 season ticket) but people will apparently pay that living in houses that cost 3x or 4x as much in Cambridge.
 


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