Does Commute Abit

Liverpool House Prices 2012 Thread

48 posts in this topic

[quote name='Marcus Aurelius' timestamp='1329763780' post='3266664']

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
[/quote]

That really is terrible, time I wrote to Steve Rotheram MP.

There's a thread about Liverpool city centre flats on the main board, asking why £135k for one of the gazzilion of unsold city centre flats isn't fair value! After all it was reduced from post-city-of-culture madness asking price of £275k !

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Land Registry relaese for Jan 2012:

2.2% MoM, -4.0% YoY, average £95898

Makes no sense to what I am seeing in Central and South Liverpool :blink:
Must be very low volumes as MA shows in his graphs.

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I want more "liverpool is a crime-ridden hell" stories please, Daily Mail.
I want things back to -10% YoY !!!!

http://www.dailymail.co.uk/news/article-2107552/Manchester-Liverpool-Birmingham-areas-drugs-gangs--just-like-Mexico-Brazil.html

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Buyer wanted for pokey 1 bed flat in Childwall. Reduced to £124995.

http://www.rightmove.co.uk/property-for-sale/property-36350144.html

This is the price 3 bed semis are going for in the area now. Try about 100k max!!!!!

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Is there anywhere decent to buy in Liverpool city centre that hasn't,t been rendered unsaleable by the huge management fees....???
Virtually all developments in city centre are in administration and the management fees for many buildings mean that you would be mad to buy there unless you want to flush money down the toilet!! Beetham plaza - a 2 bed has fees of £300+a month plus up to £200 fOr council tax means you are looking at £500 monthly fees BEFORE a mortgage ...and you can never pay it off it only goes up! No wonder they can't sell anything there -a flat went to auction for £100k and still didn't sell. Tower building, the Albany and unity all very high fees. Agents try to create illusion of restricted supply by only dumping a few flats on the market at a time but in reality there are dozens of unsold flats in most developments including one park west. Prices here are prob 40% too high and resellers are taking a bath on what they paid even 2 years ago! Show flats are up priced by hundreds of thousands for a bit of furniture worth prob £10k!!! Get real!
Mann island - Trapped by them if you want to rent out and much of the rope walks area is shared equity properties which are very hard to shift on as you have a restricted resale market to first timers only.
You need to do some serious research yourself if you want to buy in lpool - agents never give you the true picture and it is probably a cert that unless you get a rock bottom price you are looking at losing money. Am constantly amazed at people offering close to asking prices with one agent when there are flats in same building at half the price - can only presume a fool and his money......... There are two agents to avoid like the plague as up price all properties,
Can anyone point to a decent property with reasonable fees 2 bed?

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[quote name='bills' timestamp='1333334551' post='909004859']
Is there anywhere decent to buy in Liverpool city centre that hasn't,t been rendered unsaleable by the huge management fees....???
[/quote]

I gave up looking for decent flats at 'reasonable' prices in Liverpool City Centre. About the best I could find are all shared ownership, but if you want to get on the property ladder they seem to be your only chance.

I would recommend slightly north of the City Centre, preferably around the 'financial district' i.e. Chapel Street and Leeds Street but be wary as there may be a massive development north of the city with the new cruise terminal in the coming years.

I have just had a look on RightMove but I couldn't see anything. I will keep an eye out for you.

I would really recomend looking in the suburbs or across on the Wirral side. Prices are far more affordable and the public transport in Liverpool is very good.

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[quote name='Marcus Aurelius' timestamp='1333397880' post='909005516']
I gave up looking for decent flats at 'reasonable' prices in Liverpool City Centre. About the best I could find are all shared ownership, but if you want to get on the property ladder they seem to be your only chance.

I would recommend slightly north of the City Centre, preferably around the 'financial district' i.e. Chapel Street and Leeds Street but be wary as there may be a massive development north of the city with the new cruise terminal in the coming years.

I have just had a look on RightMove but I couldn't see anything. I will keep an eye out for you.

I would really recomend looking in the suburbs or across on the Wirral side. Prices are far more affordable and the public transport in Liverpool is very good.
[/quote]

Leeds street seems to have a huge no of repossessions which worries me ..means owners cannot let/sell there so brings whole area down. Where is new cruise develop
ment going to be but surely that years down line??

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[quote name='bills' timestamp='1333334551' post='909004859']
Is there anywhere decent to buy in Liverpool city centre that hasn't,t been rendered unsaleable by the huge management fees....???
Virtually all developments in city centre are in administration and the management fees for many buildings mean that you would be mad to buy there unless you want to flush money down the toilet!! Beetham plaza - a 2 bed has fees of £300+a month plus up to £200 fOr council tax means you are looking at £500 monthly fees BEFORE a mortgage ...and you can never pay it off it only goes up! No wonder they can't sell anything there -a flat went to auction for £100k and still didn't sell. Tower building, the Albany and unity all very high fees. Agents try to create illusion of restricted supply by only dumping a few flats on the market at a time but in reality there are dozens of unsold flats in most developments including one park west. Prices here are prob 40% too high and resellers are taking a bath on what they paid even 2 years ago! Show flats are up priced by hundreds of thousands for a bit of furniture worth prob £10k!!! Get real!
Mann island - Trapped by them if you want to rent out and much of the rope walks area is shared equity properties which are very hard to shift on as you have a restricted resale market to first timers only.
You need to do some serious research yourself if you want to buy in lpool - agents never give you the true picture and it is probably a cert that unless you get a rock bottom price you are looking at losing money. Am constantly amazed at people offering close to asking prices with one agent when there are flats in same building at half the price - can only presume a fool and his money......... There are two agents to avoid like the plague as up price all properties,
Can anyone point to a decent property with reasonable fees 2 bed?
[/quote]

Hi bills, welcome.

This sounds about right from my experience - city centre flats are simply unpurchaseable at the moment. There is either an unrealistic purchase price placed on them, or an unrealistic service charge. Anyone who bought these during the 'year of culture' hype is now in serious trouble financially, hence the service charge catches to them all. Ive jogged past Beetham Plaza a few times recently, and there are lots of lights out in the evening - I guess these are not shifting with the service charge, or even being occupied.

Besides, centre flat prices do not match well with prices for proper houses in more desirable suburbs - why buy a pokey central flat when you can get a 3 bed semi in a good neighbourhood for the same (free from service charges etc.) ?

The ropewalks area is noisy and disruptive with nightclubs and student nights midweek, and not for everyone. I find the north side around Leeds St etc. very baren and isolated for local facilities. The financial district is OK but very quiet at weekends, and like a ghost town with closed pubs etc. I'd give up on the centre and look a bit further out - depends on your tastes but many colleagues like Sefton Park/Aigburth area. There's also lots of flats on London Road, which is handy for Lime Street, of variable quality and character, where the service charges are less. Just avoid any too close to lime street, where there are crime problems. Edited by Diet Cola Addict

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New north Liverpool development with planning permission (no idea about finance, though)

Liverpool Waters, around the Stanley Tobacco warehouse
http://www.liverpoolwaters.co.uk/content/home.php

On the plus side, it would clean up this rather scruffy part of town, but on the downside, Im not sure where the demand will come from for more flats, retail or office space.

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[quote name='bills' timestamp='1333735115' post='909008111']
Leeds street seems to have a huge no of repossessions which worries me ..means owners cannot let/sell there so brings whole area down. Where is new cruise development going to be but surely that years down line??
[/quote]

A couple of news articles for you.

http://www.ft.com/cms/s/0/1ac4ed12-4909-11e1-88f0-00144feabdc0.html#axzz1rR5YMo00

http://www.bbc.co.uk/news/uk-england-merseyside-17469646

Basically if cruise ships are allowed to dock in Liverpool the council is planning to develope the whole area slghtly north of the ciy centre into a cruise terminal.

Good news for Bootle I guess and I think this will impact the area I was talking about as well.

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Hi Marcus
you are a mine of information - just what I need! Your analysis seems really good but I am a little bit stuck with city centre - tell you why - need to use it myself for shortish period and then have ability to RENT it on when i move on - agents says only guarantee of renting is City Centre area because so many people want to be right in the city - either students or young professionals. Take on board what u say about better suburbs and if i was staying long term - would DEFFO be a better bet but all things considered - am very nervous about not being able to cover mortgage if i DON'T buy in city centre. I am the eternal optimist that something good will come up with a reasonable service charge or even a house (have spotted a few right in city centre but none on market). Waiting for Park West prices to drop thru the floor (according to Land Registry they have sold 170 out of 326 flats so they are holding loads back to look like there is a demand but the few they have on market are not selling!). I do prefer business area as you get more space in flats but again service charges...aah!!!!!

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L15 8HX

Put the above postcode in Rightmove and you'll see 2 nice terraced houses (a friend of mine used to live in this street years ago and always loved the house) - Liverpool is full of lovely houses like these. I think Woolton is a lovely area with some lovely houses.

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[quote name='generation jones' timestamp='1334004641' post='909010019']
L15 8HX

Put the above postcode in Rightmove and you'll see 2 nice terraced houses (a friend of mine used to live in this street years ago and always loved the house) - Liverpool is full of lovely houses like these. I think Woolton is a lovely area with some lovely houses.
[/quote]

Hi GJ. Do you think these are fair value ? - I think they are priced rather high at £165k for a 2 bed terrace, and the 50 quid off one shown via property bee isnt the type of price action I was hoping for. These look typical Liverpool Suburb overpriced entries - the reason the suburbs are not selling either.

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Do you have a specific budget [color="#00BFFF"]bills[/color]?

2 bed in the City Centre priced at £104,995.

http://www.rightmove.co.uk/property-for-sale/property-32293916.html

75% shared ownership but no mention of fees.

This is very central, close to Hanover Street and Liverpool One but far enough away from the worse part of China Town. The whole area has been developed recently on the success of Liverpool One. A massic Premier Inn is soon to open on Hanover Street. I am not a big fan of open-plan but it looks like a decent job here.

http://www.rightmove.co.uk/property-for-sale/property-13669629.html

2 bed in the City Centre at £135,000

Again, seems a decent location. way from the Ropewalks and Hardman Street area which I am sure are teeming with drunks on a Friday and Saturday night.

http://www.rightmove.co.uk/property-for-sale/property-36049661.html

Cathering Street seems to be a nice area. Really close to the University and Liverpool Communtiy College.

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[quote name='Marcus Aurelius' timestamp='1334075982' post='909010654']
Do you have a specific budget [color="#00BFFF"]bills[/color]?

2 bed in the City Centre priced at £104,995.

http://www.rightmove.co.uk/property-for-sale/property-32293916.html

75% shared ownership but no mention of fees.

This is very central, close to Hanover Street and Liverpool One but far enough away from the worse part of China Town. The whole area has been developed recently on the success of Liverpool One. A massic Premier Inn is soon to open on Hanover Street. I am not a big fan of open-plan but it looks like a decent job here.

http://www.rightmove.co.uk/property-for-sale/property-13669629.html

2 bed in the City Centre at £135,000

Again, seems a decent location. way from the Ropewalks and Hardman Street area which I am sure are teeming with drunks on a Friday and Saturday night.

http://www.rightmove.co.uk/property-for-sale/property-36049661.html

Cathering Street seems to be a nice area. Really close to the University and Liverpool Communtiy College.
[/quote]

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Up to about £140K with parking but LOW service charge - some of these city centre flats would need to be given away and you would have to take out a mortgage for the service charge!!!
Worst I have come across is £310 a month for a 2 bed pokey flat!
Anyway - will go view the cornwallis one - had seen it but moving towards the slightly less salubrious area of town and really only attracts student renters from what I am told - not professionals. Agree with you that flats fron GJ looked overpriced but definitely more space than city centre.
Any inside info on distressed sellers/developments???

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Update - I've left this thread alone for a while as its been unclear whether I'm moving from Liverpool, or not.
Asking price >> selling price is no more obvious than in liverpool suburbs

[b]Case 1 - chasing the market down [/b]
http://www.rightmove.co.uk/property-for-sale/property-16658088.html
3 bedroom town house for sale
£149,950
Elm Hall Drive, Liverpool

22 May 2012
Price changed: from '£159,950' to '£149,950'

23 March 2012
Price changed: from '£165,000' to '£159,950'

26 February 2012
Status changed: from 'Premium Listing' to 'Available'

24 January 2012
Status changed: Premium Listing, Sold STC Listing

13 January 2012
Status changed: Premium Listing Listing, Sold STC

08 June 2011
Status changed: Premium Listing, Sold STC Listing

14 May 2011
Status changed: Premium Listing Listing, Sold STC

24 April 2011
Price changed: from '£175,000' to '£165,000'

18 April 2011
Status changed: from 'Available' to 'Premium Listing'

28 March 2011
Status changed: from 'Premium Listing' to 'Available'

27 February 2011
Status changed: from 'Available' to 'Premium Listing'

26 January 2011
Price changed: from '£185,000' to '£175,000'

25 October 2010
Price changed: from '£190,000' to '£185,000'

28 July 2010
Initial entry found.

[b]Case 2 : Thou shalt not drop the price much (ps to vendor - get a photo without snow on the drive, please!)[/b]
http://www.rightmove.co.uk/property-for-sale/property-28642069.html

24 May 2012
Brief Description changed: * PRICE REDUCED FOR OUR SUMMER SALE .......

21 May 2012
Price changed: from '£167,500' to '£162,500'

13 June 2011
'POA' to '£167,500'

22 April 2011
Price changed: from '£169,950' to 'POA'

06 December 2010
Initial entry found.

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It has been a while since this thread was updated so I just wanted to highlight some possible influences on prices in the coming years after I saw the story below today:

[quote]Liverpool to demolish streets around famous ground to make way for £150m stadium redevelopment[/quote]

http://www.dailymail.co.uk/sport/football/article-2217714/Liverpool-rebuild-Anfield-knock-streets.html?openGraphAuthor=%2Fhome%2Fsearch.html%3Fs%3D%26authornamef%3DDominic%2BKing

I am not a fan of the Daily Mail but the story above goes into as much details as is available re. the housing situation.

Although it doesn't state it explicitly I would assume they are going to demolish the houses which are vacant and build new ones. The last time I went to Anfield it was a dump. Row after row of boarded up houses. I would assume that new housing will lower prices in other areas of Liverpool, at least at the very low end. I am not so sure about the high-end of the market though :huh:

My only worry is that new build houses are generally smaller than others in the area or that flats will be erected instead to attract a younger crowd, neither of which will improve Liverpool's housing situation.

Also, for those who are interested I came across a decent article in the Economist re. housing in Liverpool:

http://www.economist.com/node/21563332

This quote made me chuckle:

[quote]Falling prices compound the problem for councils hoping to regenerate struggling inner-city areas. [/quote]

And there was me thinking falling prices would be an excellent thing :D

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[quote name='98% Chimp' timestamp='1350335099' post='909162213']
It has been a while since this thread was updated so I just wanted to highlight some possible influences on prices in the coming years after I saw the story below today:
[/quote]

I've moved away from Liverpool, so I no longer update the thread. Shame, as prices were starting to fall quite nicely (still plenty of kite-flyers and delusionals, however!)

I very much enjoyed the city, the surrounding area and the people!!!!!

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[quote name='Diet Cola Addict' timestamp='1334071054' post='909010603']
Hi GJ. Do you think these are fair value ? - I think they are priced rather high at £165k for a 2 bed terrace, and the 50 quid off one shown via property bee isnt the type of price action I was hoping for. These look typical Liverpool Suburb overpriced entries - the reason the suburbs are not selling either.
[/quote]

You'd pay around 130-160k for a georgian three bed on that postcode - its one of the best roads in the L15 area.

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[quote name='98% Chimp' timestamp='1333397880' post='909005516']
I gave up looking for decent flats at 'reasonable' prices in Liverpool City Centre. About the best I could find are all shared ownership, but if you want to get on the property ladder they seem to be your only chance.

I would recommend slightly north of the City Centre, preferably around the 'financial district' i.e. Chapel Street and Leeds Street but be wary as there may be a massive development north of the city with the new cruise terminal in the coming years.

I have just had a look on RightMove but I couldn't see anything. I will keep an eye out for you.

I would really recomend looking in the suburbs or across on the Wirral side. Prices are far more affordable and the public transport in Liverpool is very good.
[/quote]

how about showing some patience, or renting a bargain instead?

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[quote name='generation jones' timestamp='1334004641' post='909010019']
L15 8HX

Put the above postcode in Rightmove and you'll see 2 nice terraced houses (a friend of mine used to live in this street years ago and always loved the house) - Liverpool is full of lovely houses like these. I think Woolton is a lovely area with some lovely houses.
[/quote]

Woolton is a much nicer area than the part of wavertree where L15 8HX is situated.
Alas, property there is very expensive! Edited by Phil S

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This 3 bed flat is up for resale at an asking of approximately what was paid in June 2007:

http://www.rightmove.co.uk/property-for-sale/property-35062797.html

No mention of the service charge, a bit of googling suggests more than a 2,500 for a two bed example in the same building! Will be interesting to see if this sells, and for what.

Edited by Cry and Regret

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