Re: Ummmmm?

Sarah Eggleston <sarah_n@[EMAIL PROTECTED]
> wrote:


>I agree, it doesn't look like another big crash in my crystal ball at 
>the moment. After a couple of years of going sideways, I hear rumours 
>that the UK market is picking up again.

It usually depends which estate agent you ask.  Some are quite
optimistic; others are quite pessimistic.
I've been really fortunate to live in Bournemouth, where the market
didn't really stop going up.  It's a high-demand place.  We get the
highest recorded hours of sun****ne pretty well every year.  It's only
100 miles from London, and it's dual-carriageway and motorway all the
way.  There's also a fast train service.  And of course, it's on the
coast and has very clean beaches.

My region of Bournemouth used to be really depressed, but they started
investing in it a few years ago.  I bought just before that, so it was
nice and cheap (5-bedroom Victorian semi with front and rear gardens
and driveway for £105k, in 1999)
It was a bit of a gamble, but I heard that the area was going to get a
lot of investment to improve it, so I went for it.
While the rest of the UK market went to sleep, our house prices were
still playing catch-up.

In the intervening time, many people such as myself have bought houses
and done them up.  The local shops are being done up.  The flop-houses
have been closed down.  The drug addicts have been moved on or cleaned
up, and they've got rid of the prostitutes that used to walk our
streets.

The house opposite mine (same design Victorian semi) is currently on
the market for £325k.

The've just finalised plans to do up the pier and seafront buildings
and install an artificial reef to improve the surfing.  Immediately
that was announced, local house prices jumped by about 10%.

>Possibly the latest banking initiatives (mortgages that can be shared
>between up to 4 individuals) have contributed to this phenomenon.

Very likely.  There are so many people who couldn't possibly buy a
place on their own.  The new rules come in and everybody jumps.





____
Chimaera