Making the news today....

[Mick Dempsey]

22 minutes ago, Big J said:

 

Yeah, my Dad's pretty pragmatic about the fact that his house near Poitiers hasn't and probably won't appreciate much. It's served him well as a cheap and spacious home and didn't cost much in the first place. 

 

Fundamentally, in order to sort out the housing market, we've got to do away with the idea that a house is an investment. It's first and foremost a home. It has to perform adequately in that regard, and part of that is affordability. By treating homes as investments, we forget what their primary function is.

True, but the problem is that then it’s not worth investing in your property, so the stock deteriorates.

We want to tarmac and kerb/edge our courtyard and entrance, we can afford it but will we get our money back? In which case why bother?

Edited August 3, 2021 by Mick Dempsey

[devon TWiG]

low inflation keeps house prices relatively high , in relation to earnings , for example if 30 years ago you borrowed 3x income lets say for example £30 k ...then the debt will stay at £30 k ...but if 3x income after 10 years is now £60k  ( due to inflation )then the homeowner seems to have a bargain ! ...In recent years inflation has been very low which keeps the cost of servicing a mortgage high so even  after 5-10 years is almost as painful as in initial years .

[devon TWiG]

5 minutes ago, Mick Dempsey said:

True, but the problem is that then it’s not worth investing in your property, so the stock deteriorates.

We want to tarmac and kerb/edge our courtyard and entrance, we can afford it but will we get our money back? In which case why bother?

this is why there seems to appear to the English at least , so many run down unloved properties in France with the potential to create a fantastic property that would be utterly unaffordable in the UK .  DIY why appears to be a non thing in France from my own observations !!

[Mick Dempsey]

I know you have an issue with Devon’s infrastructure, and I have some sympathy with those who say ‘well bugger off then!’

 

I think the inaccessibility and the challenges of living  in Devon and Cornwall is why they have retained their charm and they haven’t turned into Sussex or Hampshire.

Edited August 3, 2021 by Mick Dempsey

[Mick Dempsey]

5 minutes ago, devon TWiG said:

this is why there seems to appear to the English at least , so many run down unloved properties in France with the potential to create a fantastic property that would be utterly unaffordable in the UK .  DIY why appears to be a non thing in France from my own observations !!

It’s just that the French understand that you can’t just buy a property for 100k throw another 100k at it and expect it to be worth 500k like in the Home Counties.

 

If you got your money back you’d be doing well.

 

[trigger_andy]

In Norway everyone seems obsessed with renovating their houses/apartments and getting a new 'tax' on it, ie, getting it revalued to see how much more its now worth. Its certainly not a UK centric phenomena. Getting your house re-valued and seeing what additional equity you have in your property allows the home owner to get loans for Cabins and Boats etc. Or even adding them to the existing Mortgage. 

[trigger_andy]

11 minutes ago, Big J said:

But despite this, the average house price on that postcode 2 years ago was about £658k. It feel that if the owners of these homes spent less on their mortgages and more in local taxes, the whole area would function better.

Geeeez, your Communist is showing.  

[Mick Dempsey]

1 minute ago, trigger_andy said:

In Norway everyone seems obsessed with renovating their houses/apartments and getting a new 'tax' on it, ie, getting it revalued to see how much more its now worth. Its certainly not a UK centric phenomena. Getting your house re-valued and seeing what additional equity you have in your property allows the home owner to get loans for Cabins and Boats etc. Or even adding them to the existing Mortgage. 

Is that localised? (Near major conurbations) or countrywide?

[trigger_andy]

Just now, Mick Dempsey said:

Is that localised? (Near major conurbations) or countrywide?

Im not sure really. Certainly in Stavanger and Bergen. But I have collages on the East side of Norway who have stated the same, so Id say it was countrywide. 

[devon TWiG]

Property prices in France are still very high near the better places , nice parts of the Coast , the Alps or near big cities ....the English tend to buy in quiet out of the way areas where demand is low and prices follow ...same in Italy , Spain etc ...