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jersey1501

Buy Birmingham City Centre?

6 posts in this topic

I am thinking of buying a two bed flat in Birmingham City Centre to use as a base for trade shows at the NEC. As I won't be using it as a permanent home I need something secure and near to New St station if possible. The price swings do look alarming, does anyone have an idea of a specific block or price range I should be paying? I have looked at price sites extensively but there does seem to be some conflicting information!

Many Thanks to all in advance for their help!

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[quote name='jersey1501' post='2009703' date='Jul 14 2009, 01:38 AM']I am thinking of buying a two bed flat in Birmingham City Centre to use as a base for trade shows at the NEC. As I won't be using it as a permanent home I need something secure and near to New St station if possible. The price swings do look alarming, does anyone have an idea of a specific block or price range I should be paying? I have looked at price sites extensively but there does seem to be some conflicting information!

Many Thanks to all in advance for their help![/quote]

Mate, the level of oversupply is horrific.

Prices will halve so you are looking at a 50-100k loss.

What is it about renting- and rolling it over on a monthly basis you don't fancy?

No risk, and if things get really bad-walk away with all your hard earned cash intact.
Please don't do this to yourself and your family.
Whole blocks are empty. Offer 500 a month.

Nick Edited by SurgeonGeneral

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Median price for a flat in brum is 90k
[img]http://www.home.co.uk/images/temp/sold_prices/bi/median-birmingham-200004-200904.gif[/img]
a trough of 60->70k for an average flat? (blue line is median flat prices)

[url="http://www.home.co.uk/guides/house_prices_report.htm?location=birmingham&all=1"]http://www.home.co.uk/guides/house_prices_...ngham&all=1[/url] Edited by moosetea

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[quote name='moosetea' post='2023834' date='Jul 21 2009, 12:18 AM']Median price for a flat in brum is 90k
[img]http://www.home.co.uk/images/temp/sold_prices/bi/median-birmingham-200004-200904.gif[/img]
a trough of 60->70k for an average flat? (blue line is median flat prices)

[url="http://www.home.co.uk/guides/house_prices_report.htm?location=birmingham&all=1"]http://www.home.co.uk/guides/house_prices_...ngham&all=1[/url][/quote]
Could be, but it could be lower. I don't think there has ever been such oversupply. Certainly, prices won't recover for 10 to 30 years either.

Nick

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Recent Allsop auction:

Lot 310
Vacant Flat
A Leasehold Self-Contained Purpose Built First Floor Flat
Apartment 8, Ludgate Court, 191 Lakes Road, Birmingham, West Midlands B23 7UH
Guide Price: £40,000 - £50,000
[b]Result: £52,000[/b]

Houseprices.co.uk says:

[b]26/01/2007 £119,500[/b] Flat L Yes Map Apartment 8, 191, Lakes Road, Birmingham, West Midlands, B23 7UH

Rest of the results [url="http://www.housepricecrash.co.uk/forum/index.php?showtopic=118438&view=findpost&p=2030888"]here[/url].

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[quote name='BlueRat' date='04 August 2009 - 02:58 PM' timestamp='1249397885' post='2054642']
Recent Allsop auction:

Lot 310
Vacant Flat
A Leasehold Self-Contained Purpose Built First Floor Flat
Apartment 8, Ludgate Court, 191 Lakes Road, Birmingham, West Midlands B23 7UH
Guide Price: £40,000 - £50,000
[b]Result: £52,000[/b]

Houseprices.co.uk says:

[b]26/01/2007 £119,500[/b] Flat L Yes Map Apartment 8, 191, Lakes Road, Birmingham, West Midlands, B23 7UH

Rest of the results [url="http://www.housepricecrash.co.uk/forum/index.php?showtopic=118438&view=findpost&p=2030888"]here[/url].
[/quote]
Cheers. I'll claim my free prize.


What happened to the OP?

NIck

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