Does Commute Abit

Liverpool House Prices 2012 Thread

48 posts in this topic

I've decided Liverpool needs its own bespoke thread for the new year. :)

The city was down 9.2% YoY according to the Land Registry, with this gem of a quote included in the pre-Christmas report to scare any deluded sellers still living in a Mersey Fantasyland:

[b] "Liverpool had the most significant (nationwide) monthly price fall during November with a movement of -2.6 per cent". [/b]

Its time to 'party like it is 2003' when the updated data gets added in by home.co.uk to this chart:

[img]http://www.home.co.uk/images/temp/sold_prices/li/median-liverpool-200004-201109.gif[/img]

Transaction numbers have been very weak for the whole of 2011 across the city, even in the nicer south Liverpool suburbs. Across the city, average time on market is an unsustainable 305 days. Friends and collegues wanting to relocate or upsize are getting irritable and desperate, I can report.

[img]http://www.home.co.uk/images/temp/sold_prices/li/counts-liverpool-200004-201109.gif[/img]

There are a few other interesting features of Liverpool. The Toxteth/Smithdown Road riots of summer have de-gentrified areas of the city, notably Sefton Park and 'Posh Toxteth' around the Anglican Cathedral, trapping many Young Professsional FTBers. There still remains many unsold city centre flats (anyone want a flat in One Park West, still ?) and still ghost developments unfinished (opposite the Royal Hospital). The only small glimmers of hope for holding up prices are: 1) Fuel price inflation is making commuting from Southport/Wirral less desirable or affordable and forcing people back towards the city 2) student accomodation, particularly luxury accomodation catering for foreign students, is still being built and rented out.

An interesting year ahead awaits...

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Typical middle class Liverpool entry - 3 beds, decent schools, OK area.
http://www.rightmove.co.uk/property-for-sale/property-33839297.html

Originally asking at £160,000, now £140,000
No chance really of going for more than the £125k Stamp Duty Threshold anymore, and thats optimistic.

04 December 2011

Agents Location changed: Allerton & South Liverpool Sales

03 November 2011

Price changed: from '£145,000' to '£140,000'

30 September 2011

Brief Description changed: Sutton Kersh are pleased to offer for sale this three bedroom semi detached property which is situated on the left hand side of Glendevon Road when accessed from Rocky Lane. The property briefly comprises entrance hall, living room, Lane

20 September 2011

Title changed: Glendevon Road, Liverpool L16

06 September 2011

Price changed: from '£147,950' to '£145,000'

27 August 2011

Title changed: Glendevon Road, Childwall, Liverpool 16,3 bed semi

17 August 2011

Price changed: from '£149,950' to '£147,950'

11 June 2011

Price changed: from '£160,000' to '£149,950'

10 May 2011

Initial entry found.

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We'll have to keep an eye on this listing. We're currently looking for similar properties in Bury and are hovering around the £140-150k mark, unfortunately, when they get to £140k they're getting bought much to my despair. Are you seeing the same on Merseyside?

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[quote name='IWantItNow' timestamp='1325696578' post='3223509']
We'll have to keep an eye on this listing. We're currently looking for similar properties in Bury and are hovering around the £140-150k mark, unfortunately, when they get to £140k they're getting bought much to my despair. Are you seeing the same on Merseyside?
[/quote]

Nothing moving in South Liverpool at circa £140-150k. Property bee is showing that they just sit on the market at that price.

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Nice to see a thread on Liverpool - I'll certainly be keeping an eye on it.

I'm busy saving as large a deposit as I can manage atm whilst living at home with the parents. Just hoping we continue to see some decent falls in the future, which I'm sure we will.

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[quote name='beansontoast' timestamp='1326152485' post='3227967']
Nice to see a thread on Liverpool - I'll certainly be keeping an eye on it.

I'm busy saving as large a deposit as I can manage atm whilst living at home with the parents. Just hoping we continue to see some decent falls in the future, which I'm sure we will.
[/quote]

Thanks BoT. Any areas you looking at? budget? Please post any interesting observations from Rightmove/PropertyBee.

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Gregory Way, Childwall is in semi-detached territory with 8 PB entries at £140-169k.

The first panic seller has dropped to £124,950. In time the rest will all have to follow suit. Nothing here is going to go for over the £125 stamp duty threshold.

http://www.rightmove.co.uk/property-for-sale/property-19573470.html

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[quote name='Diet Cola Addict' timestamp='1326158787' post='3227998']
Thanks BoT. Any areas you looking at? budget? Please post any interesting observations from Rightmove/PropertyBee.
[/quote]

I'm trying to amass as large a deposit as I can manage, not necessarily so I gan get a larger house, but to get as little mortgage as possible. I think probably around £60k - £70k before my gf gets completely sick of the current situation (I'm surprised she hasn't already) and makes me buy one! I've also got a bit of unpaid leave from work in which I'm going to do a bit of travelling which isn't going to exactly help things on the deposit front.

In terms of areas, I'm not too sure. Right now I'm living in Huyton, and I whilst I'm not exaclty a huge fan it, I like the close proximity to the M62 as I always seem to be in Manchester for some reason or other, whether it be work, restaurants, concerts, etc. I can get to Manchester in about 30 mins if the roads are OK. I notice you've posted a couple of houses in Childwall, which is certainly an area I'd consider.

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[quote name='Diet Cola Addict' timestamp='1326159938' post='3228004']
Gregory Way, Childwall is in semi-detached territory with 8 PB entries at £140-169k.

The first panic seller has dropped to £124,950. In time the rest will all have to follow suit. Nothing here is going to go for over the £125 stamp duty threshold.

http://www.rightmove.co.uk/property-for-sale/property-19573470.html
[/quote]

I used to live in this area, very close to Gregory Way and there are big variations in price depending on the individual road and degree of modernisation/extension of the property. These ones nearby make the house mentioned above in Glendevon for £140k look quite reasonable!

http://www.rightmove.co.uk/property-for-sale/property-32648618.html
http://www.rightmove.co.uk/property-for-sale/property-31103851.html
http://www.rightmove.co.uk/property-for-sale/property-17951514.html
http://www.rightmove.co.uk/property-for-sale/property-31385842.html

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Thanks Phil S. It will be interesting to see what some of these go for., or what they get reduced to as the year goes on. Some top notch extension work, but all at a big premium. I do wonder how cold these large glazed extensions get in winter (the Mrs feels the cold real bad!)

This made me laugh (back to the sub-150k range). On since November 2010 and falling at about 0.3% a month

http://www.rightmove.co.uk/property-for-sale/property-31745261.html

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I think it's pretty much OK crime-wise around Molesworth. There are quite a few roads like that off Chelwood Avenue which have town houses like the one you found and they should be available at around £125k IMO (depending on condition of course).

I've just looked on rightmove sold prices and one of the houses I mentioned in my last post (http://www.rightmove.co.uk/property-for-sale/property-31103851.html)
was actually sold in 2010 for £195k and in 2007 for £150k, so £220k is way over the odds! I sold a better house than this (4 beds, large kitchen/utility/en-suite) in a nearby road in 2009 for £210k so thats about the limit around there.

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I have lived in Liverpool all my life and watched the rise in property prices over the last 10-15 years with amazement, similar to most places in the country. I am currently looking into moving across to Widnes because the property prices are slightly less but commuting isn't a problem.

A friend is looking into buying a flat in Liverpool City Centre but the prices are simply absurd. I think developes used the Liverpool One development as an excuse to add 25 - 30% increases onto selling prices. :lol:

[quote name='Diet Cola Addict' timestamp='1325533222' post='3221723']

Transaction numbers have been very weak for the whole of 2011 across the city, even in the nicer south Liverpool suburbs. Across the city, average time on market is an unsustainable 305 days. Friends and collegues wanting to relocate or upsize are getting irritable and desperate, I can report.

[/quote]

I know houses in south Liverpool that haven't sold in 12 months but the sellers cannot accept low offers because they took out 100% mortgages and are just above negative equity. :(

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[quote name='Marcus Aurelius' timestamp='1327240462' post='3238810']

I know houses in south Liverpool that haven't sold in 12 months but the sellers cannot accept low offers because they took out 100% mortgages and are just above negative equity. :(
[/quote]

Hi MA - I hope you can contribute more to this thread and keep discussion going.

I rent a flat near the city centre and it has fallen 30% in sales price (looking at others in the building) since 2009. With the service charges thrown in (£1400 per annum) I have no idea how my landlord can be getting by. BTL is not working in Liverpool City Centre - thank goodness! Just advise your friend to watch out for service charges - and also to look at the general standard of tenant in the buildings. I've been in a couple of city centre flats where there are regularly problems with noise, drinking, homeless people squatting etc. Flats need to be either a little away from the centre or have a 24hr concierge (that adds to service charge!). Also be aware that there are some BTLers not paying their service charge - again leading to a deterioration in the standard of maintenance and cleaning in some flats.

My original plan for this year was to start viewing Childwall 3-bedders and make low offers aiming on a cash purchase, not really caring if the Mrs and I get an offer accepted this year. It now looks like my job situation is less secure, and so moving elsewhere becomes a viable option (I have enjoyed life in Liverpool much more than my last two workplaces), but I will keep an eye on the market anyhow, and maybe view in a few months time. Edited by Diet Cola Addict

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Just watching kirsty and phil Liverpool property porn.... £100k for a 2 bed terrace in garston!? Still!? I lived in Liverpool 97-2000, one of my landlords sold an Edwardian town house on judges drive for £63k in '98... It was vast, 11 of us lived there for £35 a week. My room was huge. Watching this just underlines how mental the boom was and prices still are.

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[quote name='looking for the out' timestamp='1327614033' post='3243007']
Just watching kirsty and phil Liverpool property porn.... £100k for a 2 bed terrace in garston!? Still!? I lived in Liverpool 97-2000, one of my landlords sold an Edwardian town house on judges drive for £63k in '98... It was vast, 11 of us lived there for £35 a week. My room was huge. Watching this just underlines how mental the boom was and prices still are.
[/quote]

Anyone care to guess the difference between average asking and average sales price in Liverpool - I'm reckoning at least 20% but can't find a good example as all the stuff I'm watching remains unsold!

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[quote name='looking for the out' timestamp='1327614033' post='3243007']
Just watching kirsty and phil Liverpool property porn.... £100k for a 2 bed terrace in garston!? Still!? I lived in Liverpool 97-2000, one of my landlords sold an Edwardian town house on judges drive for £63k in '98... It was vast, 11 of us lived there for £35 a week. My room was huge. Watching this just underlines how mental the boom was and prices still are.
[/quote]

I used to watch Kirsty and Phil all the time but I never saw one in Liverpool. 2 bed in Garston for £100,000 is absurd. Especially if it is under the bridge. £90,000 for a spacious three bed would be a little closer to sanity.

But I have just done a search on [color="#FF0000"]Rightmove[/color] and even now a starter 2 bed terrace is from £75,000. :o

You would be better off moving Wavertree way where house prices seem to have falled dramatically recently (possiby related to the Edge Hill development).

[quote]
Anyone care to guess the difference between average asking and average sales price in Liverpool - I'm reckoning at least 20% but can't find a good example as all the stuff I'm watching remains unsold![/quote]

20% seems about right but I do not know many who have bought recently.

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I have just searched the Land Registry for house prices in Merseyside for all the dates available and I have the attached graphs.

[url="http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports"]Land Registry[/url]

The graph follows the general UK trend with prices peaking in early 2009 but have not really fallen since then. The prices rose by approximately £150,000 from 2000 - 2009 and have fallen approximately £50,000 since then.

[attachment=21152:Liverpool.jpg]

However sales volumes have plummeted:

[attachment=21153:Liverpool Sales.jpg]

Not many selling, not many buying. But I would draw from this that prices need to fall by another 30% to return to normality, however with the amount of money pumped into this industry it is really difficult to predict. :(

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Nice graphs MA, keep them coming !!!!!

Land Registry Liverpool -1.0% MoM, -9.6% YoY.
Liverpool making fresh lows (post-peak) and consistent lows at that. :)

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[quote name='Diet Cola Addict' timestamp='1327930962' post='3246108']
Nice graphs MA, keep them coming !!!!!

Land Registry Liverpool -1.0% MoM, -9.6% YoY.
Liverpool making fresh lows (post-peak) and consistent lows at that. :)
[/quote]

The battle of Gregory Close/Way is getting bearish. Askings below the £125k threshold in a while, I think.

£136k 3-bedroom
http://www.rightmove.co.uk/property-for-sale/property-36481037.html

£134k 3-bedroom
http://www.rightmove.co.uk/property-for-sale/property-21720045.html

Mann Island 2 bed shared equity @ £130,000 :lol:
http://www.rightmove.co.uk/property-for-sale/new-homes/property-30466579.html?premiumA=true Edited by Diet Cola Addict

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[quote name='Diet Cola Addict' timestamp='1328218410' post='3249584']

Mann Island 2 bed shared equity @ £130,000 :lol:
http://www.rightmove.co.uk/property-for-sale/new-homes/property-30466579.html?premiumA=true
[/quote]

The full purchase price is £163,000 :lol:

Incredible. There are only four rooms! Plus, you end up with a view of the new Museum of Liverpool!

http://liverpoolpreservationtrust.blogspot.com/2011/12/museum-of-liverpool-winner-of-hugh.html

If you can't afford it (and you don't get sea sick) you could always try this:

http://www.rightmove.co.uk/property-for-sale/property-32820457.html

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Flats in Liverpool cost more than houses , it seems.

http://www.rightmove.co.uk/property-for-sale/property-15340351.html
2 bed apartment in Allerton Road,Allerton,Liverpool,L18 6JN

04 February 2012

Price changed: from '£169,950' to '£149,995'

13 July 2011

Status changed: from 'Premium Listing' to 'Available'

10 July 2010

Price changed: from '£189,950' to '£169,950'
Status changed: from 'Available' to 'Premium Listing'

24 August 2008

Price changed: from '£205,000' to '£189,950'

29 February 2008

Initial entry found.

:lol: Won't get a sniff at over £125k, so thats going to be 40% off asking price, reduced over 4 years! :lol:

I'm still looking over liverpool (south, I'm sure you can tell) but I'm certainly not buying this year. Vendors are still delusional and I want them in a more desperate state before I start bidding. My plan is to keep looking and building a deposit. Another 10% off this year ijnn slaes prices looks unavoidable.

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[quote name='Marcus Aurelius' timestamp='1328286985' post='3250349']
The full purchase price is £163,000 :lol:

Incredible. There are only four rooms! Plus, you end up with a view of the new Museum of Liverpool!

http://liverpoolpreservationtrust.blogspot.com/2011/12/museum-of-liverpool-winner-of-hugh.html

If you can't afford it (and you don't get sea sick) you could always try this:

http://www.rightmove.co.uk/property-for-sale/property-32820457.html
[/quote]

What's that clock thing in photo number 11 at Mann island !!!!!
Flat comes with free pair of elbow pads to avoid injury when turning around in the rooms!

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[quote name='Diet Cola Addict' timestamp='1328366465' post='3251000']
What's that clock thing in photo number 11 at Mann island !!!!!
Flat comes with free pair of elbow pads to avoid injury when turning around in the rooms!
[/quote]

Liverpool house prices can be summed up the following at the moment ......

[img]http://i401.photobucket.com/albums/pp91/donnieschinalatina21/tumbleweed.jpg[/img]

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The third most expensive property in central liverpool!. Given the lack of local facilities, the average-at-best view of the Mersey (tranmere!), the pokeyness and the close proximity of the road around near all of the property, I have no idea how this is worth a million quid!

http://www.rightmove.co.uk/property-for-sale/property-19001538.html

Madness!

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[quote name='Diet Cola Addict' timestamp='1329759243' post='3266603']
The third most expensive property in central liverpool!. Given the lack of local facilities, the average-at-best view of the Mersey (tranmere!), the pokeyness and the close proximity of the road around near all of the property, I have no idea how this is worth a million quid!

http://www.rightmove.co.uk/property-for-sale/property-19001538.html

Madness!
[/quote]

I have walked past these houses many times and that is not a very quiet road, and the house is right on the corner. Plus it is maybe a 5 minutes walk away from the Echo arena and you will probably be able to hear the cheers and music from the house. Every other sentence in the description is talking about the 'amazing views' of the mersey but from what I can tell the rooms seem very small. Good look to them selling it for £1,000,000.

"A hexagonal building situated on a private road in the historic Mariners Wharf at the Albert Dock." What does this mean? How is the road private? :huh:

Anyway, I agree about the whole market stagnating in Liverpool. There must be 4-5 properties on my road which have been up for sale for over a year. Most roads I walk down have at least 3-4 houses for sale and very few have that "Sold" sign on them. And I don't see how it will could improve any time soon. No large job creations at all in the North West and the jobs I do see advertised mostly pay at the National Minimum Wage.

Liverpool Council is now getting involved in a last ditch effort to keep the market afloat:

www.liverpool.gov.uk/news/details.aspx?id=213125

"Liverpool City Council will tackle this problem by underwriting ‘top-ups’ of up to 20 per cent on the loans so that buyers can obtain a 95 per cent mortgage on similar terms to a 75 per cent mortgage, but without the need to provide the large deposit usually required."

Basically underwriting mortgages with our council tax. :o

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