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Thread: Credit Crunch ? ?housing Crash ???

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    Credit Crunch ? ?housing Crash ???

    Every day, prices have apparently plunged further, buy to letters are in a mess of unlettable unsaleable properties... oh really ? My younger daughter comes back from a year in the USA to go into her final year of University in London. She has been looking for a flat to share with a graduate friend. We help her but we don`t throw money at her and she is on a tight budget. But she is the most sensible one of the family with money anyway. So long as she is in a safe area - as safe as anywhere is in London now - she is not looking to live anywhere swish. She will have to commute to the Mile End Road but that`s fine so long as she isn`t out in Southend or somewhere - otherwise she is wasting a lot on fares. Her sister and brother in law are looking at places for her - so is the friend who will share. This last week they thought they had found somewhere - 2 beds, not large, on the Commercial Road. Noisy, needs decorating, some pretty basic furniture but OK - it would do. They are asking £525 A WEEK. We have all chased properties for her - and anything under about £400 a week is either total slum or in a a very dodgy area. What planet are these landlords on ? And no one has heard of there being a recession, money being tight, none of them will consider lowering the price. Yet two flats we looked at 2 months ago are still empty - they won`t come down in rental, they seem to prefer to hold out and have no rent. Bizarre.
    This part of the Cotswolds is pretty recession proof in some ways - but there are plenty of small towns with new private housing developments which would suit first timers, young families etc. All of them standing empty, all of them upwards of 300K and NONE prepared to look at lowering the asking price. I have young friends, 2 years married witn a baby and still living with in-laws (housing list about 200 years long)...they could stretch themselves to buy one of these if the price came down but no.. developers will let them stay empty rather than accept a low offer. It makes me furious. How long before these people realise that money is no longer sloshing round ?
    Wouldn`t you rather have a tenant/owner and get something than have an empty property deteriorating,costing you money not earning it ?

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    The problem is, these folk are all expecting the upturn soon, but that is highly unlikely for about 2 years.

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    is there not cheap student accomadation close to the uni then i must say london prices are high



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    If she's at Queen Mary's, then she shouldn't have any problemn finding a student gaffe!

    You are right though, because none of the estate agents round here seemed to have lowered their rental proces! :)

    However, you must be looking for something a bity more plush than round my way bcause there's plenty of places for under £500 per week round here

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    Quote Originally Posted by vegyjones View Post
    .....bcause there's plenty of places for under £500 per week round here
    Only since you moved into the area anyway! :D

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    Silax, yes there is but it isn`t cheap and she doesn`t qualify as she has had 1 year in and the is huge pressure on student accomodation.
    Vegy... if you read my piece you1`ll see we are NOT looking for anything plush, just reasonably salubrious and in a safe area. But let me to anything reasonable please...agents, adverts etc please.

    Keith, you`re right..things are going to get a whole lot worse before they get better. Just heard from a friend in rural Devon. He has lost his job and at 55 isn`t finding it easy to get another. She works in the NHS for not a lot. They use LPG gas for heating - they have a big tank underground. Last winter a fill - which lasts 3 months approx- cost about £600. They have just been quoted double all but £50 ! Still cheaper than oil though and I investigate having it here. But the cost of installing the whole shebang is so high that it would take years to recoup.

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    Solar water heating is now becoming worth it, especially for folk who get a bath every day

    Have you seen the governments rules for getting a grant for solar & wind? Nearly impossible ...typical.....Germany are by far the leaders...

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    Around her (derbyshire) prices in the estate agents are not falling either. However two people I know have been what they termed Gazundered. They have accepted offers on their houses only to be told after a week or so that the buyer is withdrawing that offer and in one case offering them £15000 less.

    In the end sold their 275 k house( agreed price) for 265k.

    So that seems to be the way prices are unoficially falling.



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    for heating how does this sound especially in the country a log burning stove now i don't how much logs cost but if you live in the country there are loads of trees. now before you all start jumping up and down saying it will only heat one room conventional ones yes but when i was on spain they have ones with 6 or so exhausts coming out of the back and these can run all over the house heating every room. Alternativly or collectivlly you can run under floor heating from them as well all you need is a lot of pipework running under the floor with a pump and sump filled with water. if you get a good one they will burn all night and just need a couple of logs popped on in the morning.
    all the rage in spain. you can adjust the temp by the speed of the pump very clever things but not sure how much wood cost here.



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    anybody want to buy a villa in spain still for sale



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    Quote Originally Posted by silax View Post
    for heating how does this sound especially in the country a log burning stove now i don't how much logs cost but if you live in the country there are loads of trees. now before you all start jumping up and down saying it will only heat one room conventional ones yes but when i was on spain they have ones with 6 or so exhausts coming out of the back and these can run all over the house heating every room. Alternativly or collectivlly you can run under floor heating from them as well all you need is a lot of pipework running under the floor with a pump and sump filled with water. if you get a good one they will burn all night and just need a couple of logs popped on in the morning.
    all the rage in spain. you can adjust the temp by the speed of the pump very clever things but not sure how much wood cost here.
    Silax, we have 2 HUGE log burning stoves... but they cannot be converted to hear the rads or water because they are on the other side of the house from the CH boiler etc. I investigated... also, I spoke to 2 friends who do have them to run their CH. They reckoned it took a vast amount of logs. We have plenty of wood.. I am about to get 4 trees chopped down in our spinney to be logged up and stored for next winter. This costs around £400 a tree ... I have a very big barn full of wood and this should last us this winter unless it is exceptionally cold. If you don`t have your own wood (and most people don`t) forget it. Round here, it used to be around 40-45 pounds a small pick up load of logs.This year, because of rising labour and fuel costs to transport the logs, they are quoting £100.There is also a dire shortage of seasoned wood. If we had to buy it, one pick up load would last us about a week and that is only for the stoves. To have a stove with capacity to heat water and run CH you would look at about 4 to 5 times that. And the work involved in keeping a wood burner with boiler going is formidable.I investigated having a wood burner with a back boiler on that side of the house... with a much larger burner than we have plus back boiler plus the pipe work necessary plus double lined new flues (H and S are very very strict about these stoves now) the total was estimated around £14K. !! We use one big wood burner in the sitting room off the kitchen which heats both rooms (there is also the aga )... and one in the big drawing room which we only light when we have everyone home, at Christmas as we don`t use that room so much. Yet we still use a big barn full of wood every winter as well as oil and electricity and we do NOT like over-heated rooms.
    The trouble is if you have already got a system, then converting it from anything to anything else costs a fortune. If you have a small new house and are starting a system from scratch, if you can have a woodburner with a back boiler, and have your own supply of wood, then it would be reasonably economical. (even if very hard work.) But of course having the wood supply is only half the battle... to actually fell the trees and chainsaw up a barn load of logs is either a job for a young strong chap - which we do not have - or you pay people to do it, and labour and chainsaw costs etc. are high. You can`t just use the local handyman for what is a highly dangerous professional job - I had a young chap who cut the grass and he offered to do it. But I wouldn`t dare employ him without proper equipment and public liability insurance.. none of which he had any prospect of getting. Mowing the lawn one thing, felling trees and using a chainsaw quite another. Risk just too great.
    So thanks but it`s a non-starter.
    I also investigated wind and solar. I am not a big green and 'global warming' is one of the biggest cons in history ( it has actually been getting cooler for the last 8 years and in any case the global temp is all to do with the sun, nothing to do with us.. world has been warming and cooling of its own accord since time began. But I thought wind and solar might be worth looking at.)
    I had a man come from a wind turbine firm. For all our needs, we could install 4 big turbines on the hill, and sell any surplus to the grid. But 1. we would always need electricity back-up because there is only power when there is wind... and the cost was about 30K. Solar, only useful when it is sunny, cost to install about 22K. No grants available.
    I decided maybe at least our oil boiler could be replaced to make it more efficient. It is only 6 years old but I know they have got much much better. Man came. Yes, he estimated we could save perhaps 10% of oil costs. Maybe 12% at a push. Cost of new boiler and flue plus VAT.. 3,500 ..
    so I`m knitting us all new jumpers.
    Seriously, many people in the country are living in old draughty houses. I do not mean the rich. I mean farmers and the like in older farmhouses. They heat with either oil or LPG, both of which cost a fortune and rising. And everything they try to do to cut the costs of heating costs a lot in itself. Gas ? What`s that ? Huge swathes of the country have no gas. Most of Devon, Cornwall, Cumbria and Scotland outside the town, only to start with. There is a lot of fuel poverty as well as every other sort hidden behind the pretty greenery.

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    Coal anyone?:D

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    lol nice one sparky get the pumps out the mines round here have enough coal for 100 years , tempted to get me snorckle out lol

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    Quote Originally Posted by susanwells View Post
    Silax, we have 2 HUGE log burning stoves... but they cannot be converted to hear the rads or water because they are on the other side of the house from the CH boiler etc. I investigated... also, I spoke to 2 friends who do have them to run their CH. They reckoned it took a vast amount of logs. We have plenty of wood.. I am about to get 4 trees chopped down in our spinney to be logged up and stored for next winter. This costs around £400 a tree ... I have a very big barn full of wood and this should last us this winter unless it is exceptionally cold. If you don`t have your own wood (and most people don`t) forget it. Round here, it used to be around 40-45 pounds a small pick up load of logs.This year, because of rising labour and fuel costs to transport the logs, they are quoting £100.There is also a dire shortage of seasoned wood. If we had to buy it, one pick up load would last us about a week and that is only for the stoves. To have a stove with capacity to heat water and run CH you would look at about 4 to 5 times that. And the work involved in keeping a wood burner with boiler going is formidable.I investigated having a wood burner with a back boiler on that side of the house... with a much larger burner than we have plus back boiler plus the pipe work necessary plus double lined new flues (H and S are very very strict about these stoves now) the total was estimated around £14K. !! We use one big wood burner in the sitting room off the kitchen which heats both rooms (there is also the aga )... and one in the big drawing room which we only light when we have everyone home, at Christmas as we don`t use that room so much. Yet we still use a big barn full of wood every winter as well as oil and electricity and we do NOT like over-heated rooms.
    The trouble is if you have already got a system, then converting it from anything to anything else costs a fortune. If you have a small new house and are starting a system from scratch, if you can have a woodburner with a back boiler, and have your own supply of wood, then it would be reasonably economical. (even if very hard work.) But of course having the wood supply is only half the battle... to actually fell the trees and chainsaw up a barn load of logs is either a job for a young strong chap - which we do not have - or you pay people to do it, and labour and chainsaw costs etc. are high. You can`t just use the local handyman for what is a highly dangerous professional job - I had a young chap who cut the grass and he offered to do it. But I wouldn`t dare employ him without proper equipment and public liability insurance.. none of which he had any prospect of getting. Mowing the lawn one thing, felling trees and using a chainsaw quite another. Risk just too great.
    So thanks but it`s a non-starter.
    I also investigated wind and solar. I am not a big green and 'global warming' is one of the biggest cons in history ( it has actually been getting cooler for the last 8 years and in any case the global temp is all to do with the sun, nothing to do with us.. world has been warming and cooling of its own accord since time began. But I thought wind and solar might be worth looking at.)
    I had a man come from a wind turbine firm. For all our needs, we could install 4 big turbines on the hill, and sell any surplus to the grid. But 1. we would always need electricity back-up because there is only power when there is wind... and the cost was about 30K. Solar, only useful when it is sunny, cost to install about 22K. No grants available.
    I decided maybe at least our oil boiler could be replaced to make it more efficient. It is only 6 years old but I know they have got much much better. Man came. Yes, he estimated we could save perhaps 10% of oil costs. Maybe 12% at a push. Cost of new boiler and flue plus VAT.. 3,500 ..
    so I`m knitting us all new jumpers.
    Seriously, many people in the country are living in old draughty houses. I do not mean the rich. I mean farmers and the like in older farmhouses. They heat with either oil or LPG, both of which cost a fortune and rising. And everything they try to do to cut the costs of heating costs a lot in itself. Gas ? What`s that ? Huge swathes of the country have no gas. Most of Devon, Cornwall, Cumbria and Scotland outside the town, only to start with. There is a lot of fuel poverty as well as every other sort hidden behind the pretty greenery.
    will try and think of something else then



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    How about burning books? You must have loads of them knocking about the house Susan :D



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    How about these. Not all pleasing to the eye, but some are nice.

    http://www.hamiltonfox.co.uk/search.php?submitsearch=1

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    In fact, on the home page, do a search under all areas, and there are some nice ones there. Shoredith is a good place if you can get it, Old Ford is not bad either.

    The Vegster!


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    http://www.foxtons.co.uk/search?subm...yword_value=E3

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    If you wanted to be sure she is somewhere really safe, the enclosed complex at Bow Quarter may be more appropriate. 24 Hour Security is provided at the complex so the local rif raff can't get anywhere near!

    http://www.thebowquarter.co.uk/pages/bowquarter.htm

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    Quote Originally Posted by vegyjones View Post
    How about these. Not all pleasing to the eye, but some are nice.

    http://www.hamiltonfox.co.uk/search.php?submitsearch=1
    Just gives me an estate agent Vegy., no list of properties. Which area do I put into the drop down box and etc. ? I wouldn`t want her to live in Hackney.. very unsafe. Thanks

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    Ah ha.. I don`t mean to be rude but what is this area like, safety wise ? Two young women sharing a flat so they need to be as safe as anywhere is these days... I just don`t know that part of London though I did about 100 years ago when it was the East End proper ! But then there were docks with ships and we had public hanging.

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    Don't you have a helicopter to fly them in every day?

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    Trying to sum up an entire borough in london is being too generalistic! London is a busty place and you're safety depends on which particular part of each borough you are in!

    Hackney has a bad reputation, but there are several areas within Hackney which are actually very up and coming with city workers becoming more visible in particular areas.

    Genrally Bow, is a nice area, but like most cities some areas can be intimidating at night.

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    Quote Originally Posted by vegyjones View Post
    London is a busty place
    I think Vegy is trying to say that your daughter should only move down here if she has massive whammers!



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    Quote Originally Posted by Win2Win View Post
    Don't you have a helicopter to fly them in every day?
    Haven`t you been reading all my posts about saving fuel ? Do keep up.

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  26. #26

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    Buy them a horse each then! :)

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    Susan have you tried getting a copy of Loot they have hundreds of accommodations for rent etc for all tastes money or otherwise..

    On another point property was always going to hit a slump especially after the rise in the last 7 years the market especially first time buyers who can't get on the ladder it effects the whole chain..its an historical thing and in a few years time the market will turn around..



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    Plenty of nice London areas which aren't expensive... Hackney is one of them. Bad reputation as Vegy says, but my sister lived there for 2 years without any problems whatsoever. In fact she didn't want to move.

    Islington's nice - expensive but nice.

    Archway's not so nice as an area to live in (as in it's not too pretty) but it's conveniently placed near the Northern Line.

    Crouch End, Muswell Hill, Finchley, all nice N London areas.

    Have a look on Gumtree - plenty of accommodation going on there. You said about Mile End road... which zone is Mile End in? I'd look on a tube map if I could see one as I write this. I was under the impression that if she's a student she'd live in student accommodation anyway?



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    Quote Originally Posted by John View Post
    ....In fact she didn't want to move.
    Is that because the guards in Wandsworth wouldn't let her?

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    Quote Originally Posted by John View Post
    Plenty of nice London areas which aren't expensive... Hackney is one of them. Bad reputation as Vegy says, but my sister lived there for 2 years without any problems whatsoever. In fact she didn't want to move.

    Islington's nice - expensive but nice.

    Archway's not so nice as an area to live in (as in it's not too pretty) but it's conveniently placed near the Northern Line.

    Crouch End, Muswell Hill, Finchley, all nice N London areas.

    Have a look on Gumtree - plenty of accommodation going on there. You said about Mile End road... which zone is Mile End in? I'd look on a tube map if I could see one as I write this. I was under the impression that if she's a student she'd live in student accommodation anyway?
    Thanks for this... as I said earlier, she was in hall for her first year but it is very very limited - only about one fifth of students can get accomodation and only for one year.
    Places like Muswell Hill hopelessly far out oin the wrong direction and crap for public transport alas. I`m investigating some of the areas Vegy found .. Bow etc. Seem to be reasonable prices and some nice flats there.

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