konastab01-
I don't know though, been here for a while and all i see is folk who have signed up to a mortgage into their afterlife.
It must be so many people take out an extra loan to cover the short fall in their income /available mortgage to last them maybe 5 years, betting that the subsequent rise in property value will leap frog them up the economic ladder, when it works, great good for you, but everyone else loses.
Have a lot of customers who are property rich, they bought in the x decade and now its the y decade so technically its worth z, but they still only have an income of £14k, so can't afford to look after it properly or really do anything. And most are quite sympathetic to younger buyers eager for more space, garden etc who just can't fathom the numbers now involved in ownership,but equally can't really do anything about it as in order for them to move into a smaller /more ability appropriate home would cost a not dissimilar amount to their equity.
Rest of Glasgow has this view that the west is just built on pure money, i think for a very tiny number of people that's true, but it's always true, some folk just do well. Seen the prices of dennistoun/Kings park/mt florida go high in the last 5 years
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BrickMan
House/granny bungalows at end of our street, been eyeing them up for years. Made an offer on one in 2017 and didn't get it, offered £315k on an offers over £295k, went for around £325k, maybe more. People that have been in it have done almost nothing, new kitchen worktop, some tiles and a click together floor in the kitchen, thats it. Nothing else has changed in the house, outside the same, still needs roof looked at, still needs a heating system and wiring from this century, woodchip graces the hall, stairs and upper hall and one other room
Came on the market Fri, sold Mon PM for offers over £525k, which means in the current heat around Glasgow it's reasonably expected to have gone for north of £550k.
So lets assume £250k gross increase in just under 4 years. Will exchange the £200 of worktop, £200 of tiles, £500 of floor and poss £1500 labour to tidy up kitchen for 1 month of gross value increase.
That granny bungalow went up by £5200 per month, for 46 months.
Fucking.
Sick.