dbd33

I didn't want to move away and have a strong connection to my birthplace. I work all the time with people who didn't want to move away and have a strong connection to their birthplaces. I certainly wouldn't have moved to Toronto if it hadn't had cheap houses. Nothing has changed in that regard. Today, you can't sell your house in Toronto or Vancouver and buy the same one in London or New York, there's still the small town pricing advantage in the Canadian locations.

JamesM

You think? It depends where you are in the market in my humble opinion.

If I had known about the pandemic boom of 40% and the complete FOMO I'd have bought a $430k 2 bedroom condo that was put in front of me I if memory serves around 2014. If I did sell it now (with the capital) I could quite comfortably buy a 2 bedroom place in my home town of Farnham, Surrey with no or a very small mortgage.

Granted it's a 50 minute train ride to London but I think real estate has some what levelled off between the two places.

I don't think you'll see much of a correction though in the UK like what we will see in Canada. Largely because some of the typical reasons people actually give for high prices some what hold up there.

You have quite a few acres though and I do appreciate to replicate that in the home counties would be quite the bill.

By the way I've moved to the Beaches! Been here 2 months! I'm above Home Hardware on Queen East, almost opposite the Glen Manor Ravine! It's amazing out here! I love it!

dbd33

Beach! You parvenu.

Yes, I was happy there even if it is a bit up itself. Being able to walk to the yacht club was fantastic. Congratulations.

dbd33

And on comparative pricing: House for sale in Richmond Road, London, E8 (Ref 181772) | Dexters

JamesM

Ouch!

btar

Sounds like Vancouver BC - https://bc.ctvnews.ca/vancouver-tear...ours-1.5907919

dbd33

Only slightly. Maybe eighteen months ago my daughter and her husband started looking in Vancouver with a budget of 1.5. That wasn't enough so they saved some more and eventually bought at 2.7. Less than 3 million Canadian can still buy a nice detached house in Kitsilano, run down admittedly, but all first houses should be a bit run down. That's not money that will buy a whelk stand in an equivalent part of London such as Hampstead or Highgate.

CanadaJimmy

Some people really did lose their minds:
https://www.cbc.ca/news/canada/sudbu...orse-1.6461379

Bought a house in Sudbury, sight unseen. Ended up with a wreck.

dbd33

"Keyes and Nakashima said they don't feel they were advised on proper due diligence, and don't feel their real estate agent acted in their best interest."

Pull the other one. The agent is there to sell, not to act according to the interests of the buyer.

bc2015

Well the buyer's agent is meant to act in the interests of the buyer.

Jerseygirl

Buyer’s and Seller’s agents are only interested in one thing…$$$$ in their pockets. This may or may not be in the best interest of their clients.

dbd33

And Boris thought he was at a work event when the drinks were thrust into his hands.

Shard

Cats and swinging come to mind.

Revin Kevin

I heard on the radio that the Bank of Canada are predicting that due to rising interest rates and the rising cost of living house prices could be down as much as 15% by the end of 2023!

JamesM

They'll be down 15% by the end of this year.

By the end of next year closer to 30%.

We'll then have several years of stagnation whilst wages close the gap a little and then the cycle will start again with the February 2022 peak hit again some time around 2030-2035 in real terms.