jfk Posted February 21, 2011 Share Posted February 21, 2011 I love the bee. Wilbraham road - god still in student-hell-hole (should know, lived not far from there as a student too). Quote Link to comment Share on other sites More sharing options...
hirop Posted February 22, 2011 Share Posted February 22, 2011 Although I'm poking fun at the EA here on the WiIlbraham Road property, at £125K I'd expect that to sell. To play devils advocate, it's close enough to withington village for a few decent pubs and amenities. It's 3 bed south manchester property, suitable for a young family, about 15 minutes from the city centre. It's not really so close to either the moss side estate or the rusholme "coronation street style" terraces, to be particularly concerned about it. If you wander up Loyds street south toward moss side, you find a great run of edwardian semi-detached, so the area can be quite schizophrenic in terms of housing. So the question would be is it a goer for someone, relatively affordable on a modest salary with a 85% LTV, that should be quite attainable for many wanting to buy now. If it was not in a tangible student letting zone it would be intresting to see how it faired as a barometer for the current market. I wouldn't, and it's a personal slant only, buy an ex-LA property; the great council home sell off was really really wrong, I don't want to participate in the unearned betterment of those fortunate enough to be handed a massively discounted house. I'm basically jealous, and since it's my ball, I'm taking it away and not playing (..just yet...). If I were to be playing the ex-LA game, that 125K would probably buy me ex-LA in Withington, somewhere just north of Fog Lane Park. Here I aspire to more than that, but it's good to know the fall back positions are not horrendous anymore. I have simple needs, and it's all relative to debt at the end of day, simple house, lower debt, less equity to lose, or better house, more debt, more equity to lose. Lets see the next 12 months through and see how much downward pace the market can pick up. RM is full of optimistic pricing these last 4 weeks, and the stuff on my list is still being sticky, only one or two reductions since the turn of the year. Quote Link to comment Share on other sites More sharing options...
jfk Posted February 25, 2011 Share Posted February 25, 2011 How about this lovely property? I've been watching this building site for the last couple of years. It's quite a large plot and a largish build for a single house. It seems to have ground to a halt a year ago and just been boarded up, right slap bang on the border of didsbury "village" (e.g. within spitting distance of the middle-class lager lout sh*tehole that is the slug n lettuce/hogshead/o'briens dump)... http://www.rightmove.co.uk/property-for-sale/property-32811713.html?backListLink=%2Fproperty-for-sale%2Fmap.html%3FlocationIdentifier%3DPOSTCODE%255E1528216%26insId%3D1%26radius%3D0.25%26includeSSTC%3Dtrue%26_includeSSTC%3Don%23_includeSSTC%3Don%26auction%3Dfalse%26includeSSTC%3Dtrue%26locationIdentifier%3DPOSTCODE%255E1528216%26previousSearchLocation%3DM20%25204TS%26radius%3D1.0%26searchLocation%3DM20%25204TS%26searchType%3DSALE%26useLocationIdentifier%3Dfalse%26box%3D-2.23838%2C-2.22387%2C53.41547%2C53.42293%26popupPropertyId%3D32811713%26mapType%3DMap&fromMap=true&onetime_savedPropertyId=32811713#summary32811713 Streetview gives you a lovely view of the local Aldi supermarket (which I love because it's hilarious seeing people park up their BMWs/chelsea tractors and put their aldi shopping in M+S/Tesco bags, to$$ers). Turn left onto Wilmslow Rd and a bit further up is your desirable building site. ... also need to factor in that the tram metro system will be soon thundering past when it's completed ... Quote Link to comment Share on other sites More sharing options...
hirop Posted February 25, 2011 Share Posted February 25, 2011 How about this lovely property? I've been watching this building site for the last couple of years. It's quite a large plot and a largish build for a single house. It seems to have ground to a halt a year ago and just been boarded up, right slap bang on the border of didsbury "village" (e.g. within spitting distance of the middle-class lager lout sh*tehole that is the slug n lettuce/hogshead/o'briens dump)... http://www.rightmove...summary32811713 Streetview gives you a lovely view of the local Aldi supermarket (which I love because it's hilarious seeing people park up their BMWs/chelsea tractors and put their aldi shopping in M+S/Tesco bags, to$$ers). Turn left onto Wilmslow Rd and a bit further up is your desirable building site. ... also need to factor in that the tram metro system will be soon thundering past when it's completed ... I think the didsbury tramstop is just a unfunded plan on a bit of paper for the time being. The plans get hazy after chorlton, I recall the plans turned into a dotted line that makes it's away along that old railway line and down into Withington and then onto Didsbury. The challenging thing for that property is that for 625K you can find something that it is, ehm, finished, and somewhat more, ehm, secluded. One for the builders only, get that home chopped into 8 studio flats and rented out at 450 a month each. Quote Link to comment Share on other sites More sharing options...
jfk Posted February 25, 2011 Share Posted February 25, 2011 I think the didsbury tramstop is just a unfunded plan on a bit of paper for the time being. The plans get hazy after chorlton, I recall the plans turned into a dotted line that makes it's away along that old railway line and down into Withington and then onto Didsbury. The challenging thing for that property is that for 625K you can find something that it is, ehm, finished, and somewhat more, ehm, secluded. One for the builders only, get that home chopped into 8 studio flats and rented out at 450 a month each. Precisely. Quote Link to comment Share on other sites More sharing options...
hirop Posted March 9, 2011 Share Posted March 9, 2011 Today's groan is not specific to South Manchester - it's a Manchester-wide + 1 mile issue. The quality of home coming onto the market is shocking, we are in March now, to my mind things should be picking up in terms of listing. The stuff between 130K and 160K is utter gash just now. I had a theory they were the people shocked most by not being able to sell their home last year, and have the most pride to swallow in dropping their price to make a sale. I think they are just not playing now. The stuff I had earmarked last year has seen its 2 or 3 drops already, and in my experience, they will remove now before reduce again, and are likely to stagnate at their current level. My rightmove list has been decimated by property removed from the market. I'm struggling to find new ones to add. ONLY plus point is Old Trafford is now at the 180\190K mark for the semi-detached around and off kings road. It's not everyones bag but I like it down there, close to Chorlton, easy access to Salford where I work, close to town, a close-ish metro. In all reality I think I will be focusing my search on North Manchester now, as Radcliffe\Whitefield border, and bits of Unsworth seems to represent better value at the moment. I don't think I can live inside the M60 anywhere I want without the 170\180K stuff taking a 20/30K drop. Very very frustrating at the moment. Quote Link to comment Share on other sites More sharing options...
mclassplanet Posted March 10, 2011 Share Posted March 10, 2011 Today's groan is not specific to South Manchester - it's a Manchester-wide + 1 mile issue. The quality of home coming onto the market is shocking, we are in March now, to my mind things should be picking up in terms of listing. The stuff between 130K and 160K is utter gash just now. I had a theory they were the people shocked most by not being able to sell their home last year, and have the most pride to swallow in dropping their price to make a sale. I think they are just not playing now. The stuff I had earmarked last year has seen its 2 or 3 drops already, and in my experience, they will remove now before reduce again, and are likely to stagnate at their current level. My rightmove list has been decimated by property removed from the market. I'm struggling to find new ones to add. +1 Things have been very quiet on the South Manchester property market over the last two weeks in particular, especially at the low end (almost as quiet as last December). And as you said, what's still for sale is usually overpriced by a fair margin (sellers usually not budging on advertised pricing with several prices being static for well over a year), as well as a lack of real choice. I know of a 1 bed flat in Didsbury that's currently for sale at a premium of £5k compared to the asking price for the same property in 2005 (BBC employee price-gouging perhaps?), and a fair number of properties have either gone SSTC or have mysteriously vanished from sale. One property went SSTC then supposedly came back on the market, but when I enquired about it I was told that it had been sold. Most frustrating. Quote Link to comment Share on other sites More sharing options...
Nomadd Posted March 19, 2011 Share Posted March 19, 2011 (edited) +1 Things have been very quiet on the South Manchester property market over the last two weeks in particular, especially at the low end (almost as quiet as last December). And as you said, what's still for sale is usually overpriced by a fair margin (sellers usually not budging on advertised pricing with several prices being static for well over a year), as well as a lack of real choice. I know of a 1 bed flat in Didsbury that's currently for sale at a premium of £5k compared to the asking price for the same property in 2005 (BBC employee price-gouging perhaps?), and a fair number of properties have either gone SSTC or have mysteriously vanished from sale. One property went SSTC then supposedly came back on the market, but when I enquired about it I was told that it had been sold. Most frustrating. What, with beauties like this on the market: http://www.rightmove.co.uk/property-for-sale/property-32382698.html I've just done my scout around today and seen a large number of 5-10%+ chops. Spoke to two people last week who are trying to sell detached places and they've both been "advised" by their EAs to reduce prices by 5-10% (which would still leave them overpriced to other properties in the vicinity.) I'm seeing prices begin to fall steadily in the areas I'm looking in. I expect that trend to continue for the rest of the year. And the next. And the next. Edited March 19, 2011 by Nomadd Quote Link to comment Share on other sites More sharing options...
jfk Posted March 20, 2011 Share Posted March 20, 2011 There's still the twigs-in-a-vase in picture 2!!! Quote Link to comment Share on other sites More sharing options...
manchester50 Posted March 21, 2011 Share Posted March 21, 2011 beautiful. http://www.rightmove.co.uk/property-for-sale/property-18368178.html Quote Link to comment Share on other sites More sharing options...
jfk Posted March 22, 2011 Share Posted March 22, 2011 beautiful. http://www.rightmove.co.uk/property-for-sale/property-18368178.html at the price ... damn no twigs! Quote Link to comment Share on other sites More sharing options...
Nomadd Posted March 22, 2011 Share Posted March 22, 2011 at the price ... damn no twigs! ...and all the privacy of a goldfish bowl. That house is so ugly I'd be upset just to live next-door to it, let alone in it. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted March 26, 2011 Share Posted March 26, 2011 http://www.messengernewspapers.co.uk/news/8929865.House_price_boom_prediction_for_Sale_and_Altrincham/ Quote Link to comment Share on other sites More sharing options...
Nomadd Posted March 26, 2011 Share Posted March 26, 2011 (edited) http://www.messengernewspapers.co.uk/news/8929865.House_price_boom_prediction_for_Sale_and_Altrincham/ ...That’s according to global real estate advisers DTZ... ...as wealthy Beeb workers Thank heavens for impartial "journalism". Some of the better roads in Sale/Brooklands/Hale/Alty, for example: http://www.home.co.uk/search/price_info.htm?property=2165386138 http://www.home.co.uk/search/price_info.htm?property=2076108668 http://www.home.co.uk/search/price_info.htm?property=2033454001 http://www.home.co.uk/search/price_info.htm?property=1829368443 http://www.home.co.uk/search/price_info.htm?property=1445874066 http://www.home.co.uk/search/price_info.htm?property=1575266325 http://www.home.co.uk/search/price_info.htm?property=1948951795 http://www.home.co.uk/search/price_info.htm?property=2175095329 http://www.home.co.uk/search/price_info.htm?property=2171934651 http://www.home.co.uk/search/price_info.htm?property=1868964019 Etc., etc., etc. And of the 20 pages I've just flicked through - all areas mentioned in the "ramping" article - I'd say 50% of the properties listed are showing "reduced". Which is strange indeed, going into the peak Spring selling season. Wonder if the "experts" at DTZ could comment? Of course, house prices could be on the way up and up, if these Londoner's moving North use some of the creative local financing options reported in the same newspaper: http://www.messengernewspapers.co.uk/news/8908242.Machete_held_against_victim_s_neck_during_Altrincham_bowling_club_robbery/ Edited March 26, 2011 by Nomadd Quote Link to comment Share on other sites More sharing options...
manchester50 Posted March 26, 2011 Share Posted March 26, 2011 Hale/Alty is one of the areas we've been keeping an eye on/looking. It feels to me that stuff towards the lower end has dropped (i.e. <300k) and stuff above ~900k has dropped, However the area we're looking (400-700) seems to be home to some of the most unrealistic asking prices, Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted March 28, 2011 Share Posted March 28, 2011 Hale/Alty is one of the areas we've been keeping an eye on/looking. It feels to me that stuff towards the lower end has dropped (i.e. <300k) and stuff above ~900k has dropped, However the area we're looking (400-700) seems to be home to some of the most unrealistic asking prices, I'm not claiming htis is gospel as I haven't been looking exhaustively nor for too long but my impression of the sub £400K 'Hale' stuff is... In the Tree Road area, Noughties boom buyers want their top dollar bought prices plus "development" costs plus some equity/profit for good measure to reach the half million+ houses and the agents are definitely trying to up the stakes. Not sure where sold prices are at the moment. However as you move away from this area prices seem (to me) to be softening a little in the "cheap" stuff. But as always its the odd stuff that hangs around the market for a long time. Quote Link to comment Share on other sites More sharing options...
Nomadd Posted March 30, 2011 Share Posted March 30, 2011 ...and the agents are definitely trying to up the stakes. Not sure where sold prices are at the moment. It would seem EAs do actually know what's going on, at least according to "Estate Agent Today" (link posted on the main page): The average house price in England and Wales is now £162,215 – in line with Nationwide and Halifax surveys, but a long way detached from Rightmove’s asking prices. Rightmove’s current asking price is £231,790. By coincidence, while actual house prices fell 0.8% according to the Land Registryin February, asking prices rose 0.8% for properties new to the market on Rightmove between mid February andmid March Sales volumes for the area since the start of the year are tiny. Guess we have to wait for Spring/Summer to pass to get a clearer picture. Nomadd Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted March 30, 2011 Share Posted March 30, 2011 It would seem EAs do actually know what's going on, at least according to "Estate Agent Today" (link posted on the main page): The average house price in England and Wales is now £162,215 – in line with Nationwide and Halifax surveys, but a long way detached from Rightmove’s asking prices. Rightmove’s current asking price is £231,790. By coincidence, while actual house prices fell 0.8% according to the Land Registryin February, asking prices rose 0.8% for properties new to the market on Rightmove between mid February andmid March Sales volumes for the area since the start of the year are tiny. Guess we have to wait for Spring/Summer to pass to get a clearer picture. Nomadd I'm currently waiting on a couple of sale prices to get to the public domain. One house, 2 bed terrace, initially marketed for £250K late last year, asking dropped to £240K and sold. Price history is Jul '02 - £165K, Jul '03 - £197K Another 2 bed terrace, marketed for £275K gone to sold, no reduction in asking. Price history is Oct '99 - £83K, Mar '03 - £190K (!!), May '06 - £244K Some (still) for sale nearby, a "4 bed" terrace just come on at nearly £400K last sold in Dec 2000 for £180K and a 3 bed terrace been on the market 3 months just had a reduction from 300 to 280, last sold in Dec '05 for £250K and before that in Jun ' 03 for £220K. Quote Link to comment Share on other sites More sharing options...
bob monkhouse Posted April 7, 2011 Share Posted April 7, 2011 how are we feeling about manchesters prop price expectations moving forward? im not seeing much movement, just inflation erosion Quote Link to comment Share on other sites More sharing options...
manchester50 Posted April 8, 2011 Share Posted April 8, 2011 I'm only looking at south (of) Manchester (South Alty/Hale/Bowdon, Cheadle Hulme, Bramhall, Poynton, Alderley, Bollington etc). In my broad price band (400-700 ish) I'm seeing very little in the way of falls - at least for anything decent, and despite 'logic' forecasting price drops, I'm not very optimistic. I shake my head in frustration when I see two houses for sale at 625/650 on a Bramhall road, which according to houseprices.co.uk has never seen a sale over 550. I think most people are going to stay put rather than reduce their asking prices significantly. I don't believe redundancies or interest rate rises are going to have a major effect on this, simply because people have had so many years now of low interest rates and overpayments. People I speak to talk in terms of the number of years they could be unemployed and maintain current living standard - thanks to keeping mortgage payments constant as rates fell. Conversely I don't see the BBC move introducing any upward price pressure - at least not in terms of sales, possibly in the short term for sellers expectations. Quote Link to comment Share on other sites More sharing options...
R K Posted April 8, 2011 Share Posted April 8, 2011 I'm only looking at south (of) Manchester (South Alty/Hale/Bowdon, Cheadle Hulme, Bramhall, Poynton, Alderley, Bollington etc). In my broad price band (400-700 ish) I'm seeing very little in the way of falls - at least for anything decent, and despite 'logic' forecasting price drops, I'm not very optimistic. I shake my head in frustration when I see two houses for sale at 625/650 on a Bramhall road, which according to houseprices.co.uk has never seen a sale over 550. I think most people are going to stay put rather than reduce their asking prices significantly. I don't believe redundancies or interest rate rises are going to have a major effect on this, simply because people have had so many years now of low interest rates and overpayments. People I speak to talk in terms of the number of years they could be unemployed and maintain current living standard - thanks to keeping mortgage payments constant as rates fell. Conversely I don't see the BBC move introducing any upward price pressure - at least not in terms of sales, possibly in the short term for sellers expectations. Not sure of the appeal of Bollington (Macclesfield schools??), or Poynton. Some lovely Edwardian 'family' houses in Bramhall - There's one in the range you quoted on Bramhall Lane South which seems to fit your buying profile. Not to put a damper on it (price aside), but you can get an awful lot of fumes building up from the traffic along there (as I'm sure you can on many busy main roads) as it's backed up from the roundabout. When I experienced it I was quite suprised - it's not at all pleasant! BUT your money goes a great deal further than for similar in the nice bits of Hale/Bowdon and you've got good rail access and better local shopping. I suppose then it comes down to the schools you're interested in (i.e. if you want/can get kids into Alty schools) and to an extent your views on 'postcode' appeal. Do you aspire to be one of Hale's glitteratti and are you prepared to pay to rub noses with pwoperdy developers, footballers and BBC presenters. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted April 8, 2011 Share Posted April 8, 2011 (edited) how are we feeling about manchesters prop price expectations moving forward? im not seeing much movement, just inflation erosion I've picked 2 houses, one on the market for £250K (3 bed semi) last sold for 200 in 2003, one on the market for £280K (3 bed terr) last sold for 250 in 2005. I will be ready to go when prices are down around the 200 level again. Otherwise they shall have to wait till my wages catch-up. Been offered 1% increase this year... Edited April 8, 2011 by daiking Quote Link to comment Share on other sites More sharing options...
manchester50 Posted April 8, 2011 Share Posted April 8, 2011 Not sure of the appeal of Bollington (Macclesfield schools??), or Poynton. Some lovely Edwardian 'family' houses in Bramhall - There's one in the range you quoted on Bramhall Lane South which seems to fit your buying profile. Not to put a damper on it (price aside), but you can get an awful lot of fumes building up from the traffic along there (as I'm sure you can on many busy main roads) as it's backed up from the roundabout. When I experienced it I was quite suprised - it's not at all pleasant! BUT your money goes a great deal further than for similar in the nice bits of Hale/Bowdon and you've got good rail access and better local shopping. I suppose then it comes down to the schools you're interested in (i.e. if you want/can get kids into Alty schools) and to an extent your views on 'postcode' appeal. Do you aspire to be one of Hale's glitteratti and are you prepared to pay to rub noses with pwoperdy developers, footballers and BBC presenters. Bollington has v good primary schools - not thinking as far ahead as secondary as things change. The appeal of Boll/Poynton was the more rural aspect; Bol is also close to Macc for the train station for travel to Manc/Birm/London for work. Wilmslow is a possibility I missed off the list though we don't know it. Yes, some nice Edwardian/Victorian family homes in Bramhall with decent gardens - but many seem to have crept up to 600/700/800 asking. I know Bramhall Lane and Ack Lane are busy and many of the houses seem to appear on these roads. Some of the Hale/Bowdon prices are just there for comedy value. Some very attractive residential road in Hale and I like having Altrincham/Dunham Massey/Rail/Tram all handy but no, no desire to form part of the 'glitteratti' - in fact this had put us off Hale, Alderley & Prestbury in the past. A number of Bramhall and Hale houses up match what we're lookning for - they're just ~20% higher than I'd pay! Quote Link to comment Share on other sites More sharing options...
hirop Posted April 15, 2011 Share Posted April 15, 2011 Search figures for new and reduced properties on rightmove are well up this week. it was good last couple of weeks, coming out of the malaise of january and february, and a dearth of quality amidst higher volume in march. This week, it's been an easy 60-80 a day (or so it feels), and a whopping 109 today. And the quality is better as well At that rate, if this continues for a couple of months, there could be absolute carnage here. Search: Manchester, +1 mile, min 3 bed, max 200K, include sstc and just for fun, my pet project, she's back again - I'm actually getting bored mocking this saga of sold sstc, oh not it not, oh yes it is, oh no its not, og there it goes again, surprise! they can't complete AGAIN. Quote Link to comment Share on other sites More sharing options...
jfk Posted April 15, 2011 Share Posted April 15, 2011 and just for fun, my pet project, she's back again - I'm actually getting bored mocking this saga of sold sstc, oh not it not, oh yes it is, oh no its not, og there it goes again, surprise! they can't complete AGAIN. NICE! ... nah I never get bored of that one - it's fascinating watching it! ... agree about your observation of properties coming onto market, been noticing similar things myself Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.