How far will house prices fall [volume 4]
Discussion
There's some suggestion that with prices in the capital looking rather peaky, Manchester is being seen as the "next London" by overseas investors: http://www.bbc.co.uk/news/business-36086012
Thankyou4calling said:
There are literally hundreds of two bedroom apartments on the market in Manchester city centre though.
What's so special about the ones he is offering on?
they have character (mostly old conversions, exposed brickwork, beams etc) and are 750+sq ftWhat's so special about the ones he is offering on?
too many extremely boring apartments around, but even so nothing is staying on the market for a particularly long time!
TLandCruiser said:
Jobbo said:
When did that happen?!
A few months ago, very little news coverage and what I did read was the land registry was very profitable and paid dividends back to the govement.The CONSULTATION on privatisation closed in May, but they haven't sold it... YET!
They will, despite the fact that precisely zero people want them to.
Fortunately we will hand these people more power by exiting the EU, so that's all OK. (Sorry, O/T.)
walm said:
TLandCruiser said:
Jobbo said:
When did that happen?!
A few months ago, very little news coverage and what I did read was the land registry was very profitable and paid dividends back to the govement.The CONSULTATION on privatisation closed in May, but they haven't sold it... YET!
They will, despite the fact that precisely zero people want them to.
Fortunately we will hand these people more power by exiting the EU, so that's all OK. (Sorry, O/T.)
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
I see your profile says you're in Cheshire - I'm in a village in west Cheshire and anything that looks even slightly OTT price-wise is just sitting there.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
Someone mentioned proximity to good schools earlier - an issue all over West Cheshire and into Chester is the good schools are rammed so young families won't move into the area as they can't get places for their kids.
Timberwolf said:
There's some suggestion that with prices in the capital looking rather peaky, Manchester is being seen as the "next London" by overseas investors: http://www.bbc.co.uk/news/business-36086012
Friends in Shanghai have been going to "Buy in Manchester!' presentations for at least 3 years. The Chinese always flock to where the Chinese already are.If the centre of Manchester can keep hold of it's prices, then the outskirts are very attractive, there's plenty of nice areas with 200k semis within 20 mins commute of the centre.
Sheepshanks said:
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
I see your profile says you're in Cheshire - I'm in a village in west Cheshire and anything that looks even slightly OTT price-wise is just sitting there.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
Someone mentioned proximity to good schools earlier - an issue all over West Cheshire and into Chester is the good schools are rammed so young families won't move into the area as they can't get places for their kids.
sooperscoop said:
Friends in Shanghai have been going to "Buy in Manchester!' presentations for at least 3 years. The Chinese always flock to where the Chinese already are.
If the centre of Manchester can keep hold of it's prices, then the outskirts are very attractive, there's plenty of nice areas with 200k semis within 20 mins commute of the centre.
But these seminars are usually centred on some big infrastructure development which is claimed to be the catalyst for business investment and residential growth. What are they claiming is happening in Manchester?! If the centre of Manchester can keep hold of it's prices, then the outskirts are very attractive, there's plenty of nice areas with 200k semis within 20 mins commute of the centre.
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
So that is all based on 'your opinion' of what things are worth - means very little really.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
A 3 bed house opposite me sold for over £850k the other month - a mate of mine bought almost the same property about 100m down the same road for £580k when I bought mine in July 2013 - I thought £580k was probably toppy, as above though, didn't really mean anything as since then every single house on the road has gone for 7 plus.
Edited by okgo on Thursday 16th June 09:11
Hitch said:
sooperscoop said:
Friends in Shanghai have been going to "Buy in Manchester!' presentations for at least 3 years. The Chinese always flock to where the Chinese already are.
If the centre of Manchester can keep hold of it's prices, then the outskirts are very attractive, there's plenty of nice areas with 200k semis within 20 mins commute of the centre.
But these seminars are usually centred on some big infrastructure development which is claimed to be the catalyst for business investment and residential growth. What are they claiming is happening in Manchester?! If the centre of Manchester can keep hold of it's prices, then the outskirts are very attractive, there's plenty of nice areas with 200k semis within 20 mins commute of the centre.
I assume a wealthy Chinese family would be quite likely to decide to buy a flat their kid could use whilst at Uni then rent it out afterwards as an investment and handy way of having some money out of China ( just incase ).
okgo said:
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
So that is all based on 'your opinion' of what things are worth - means very little really.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
A 3 bed house opposite me sold for over £850k the other month - a mate of mine bought almost the same property about 100m down the same road for £580k when I bought mine in July 2013 - I thought £580k was probably toppy, as above though, didn't really mean anything as since then every single house on the road has gone for 7 plus.
Edited by okgo on Thursday 16th June 09:11
i think some of the neighbours are perhaps scanning rightmove all the time and obsessed with prices, one spotted it and told the owner she thought it was too cheap, seemingly she was right seeing as it went to sealed bids.
However, I just wonder where people find these amounts of money to purchase or mortgage a house at that price.
We paid 160, just under twenty years ago, with inflation that amount is worth £288,000 now yet the house is worth somewhere between six and seven hundred grand, wages havent gone up by that percentage, can it really keep increasing at such a rate above inflation ?
okgo said:
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
So that is all based on 'your opinion' of what things are worth - means very little really.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
A 3 bed house opposite me sold for over £850k the other month - a mate of mine bought almost the same property about 100m down the same road for £580k when I bought mine in July 2013 - I thought £580k was probably toppy, as above though, didn't really mean anything as since then every single house on the road has gone for 7 plus.
Edited by okgo on Thursday 16th June 09:11
superkartracer said:
okgo said:
J4CKO said:
I think things have officially gone mad, one went up over the road at 100/125 grand more than I would have expected, had several buyers in a week and they resorted to sealed bids above the asking price, so probably 150 grand more than I would have thought it was worth.
All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
So that is all based on 'your opinion' of what things are worth - means very little really.All very well, this middle class self congratulatory house price stuff but I have three kids that will need to get something in the next five or so years, a 3 bed family house shouldnt be that expensive.
A 3 bed house opposite me sold for over £850k the other month - a mate of mine bought almost the same property about 100m down the same road for £580k when I bought mine in July 2013 - I thought £580k was probably toppy, as above though, didn't really mean anything as since then every single house on the road has gone for 7 plus.
Edited by okgo on Thursday 16th June 09:11
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