neilrich Posted June 20, 2005 Author Share Posted June 20, 2005 Checked out 'The Grove' Today and I take it that you were referring to 'Ettrick Lodge' where I counted four or five sale boards, one of which was under offer and one was sold subject to contract!<{POST_SNAPBACK}> Opps! I'm sorry perhaps you were not referring to 'Ettrick Lodge', just uncovered that these are in fact warden assisted retirement flats! Hardly suitable for a FTB! Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 20, 2005 Author Share Posted June 20, 2005 Now only one sold board? Bang goes my theory then! Here's the link to the Knight Frank site, listing the Grove Park flats - the top end of the Oval is up to £465K for a 2 bed flat with 3 bathrooms!?! New flats are still available according to this - Knight Frank in NewcastleIt looks like Sanderson Young are trying to sell on flats bought off plan, given the way they are being listed, so no shortage of supply there -Sanderson Young - Oval Listings <{POST_SNAPBACK}> Checked out the Grove Park website which tells us that the oval contains 95 apartments, we can assume that approx one third of these are still for sale based on the Sanderson Young site! You also have to wonder whether all phases have been released and if any have been bought off plan just to try and make a fast buck, can't wait for the data to be released on nethouseprices.com! Quote Link to comment Share on other sites More sharing options...
Quokka Posted June 21, 2005 Share Posted June 21, 2005 Reference the regional economy there was a small piece on this morning’s BBC Breakfast news (local), saying that an Indian recruitment agency was in town to recruit people from the North East and persuade them to emigrate to India where the cost of living is 1/7 of here in the UK and for a wage of £400 a month!<{POST_SNAPBACK}> Classic I'm assuming this is a wind up, but if you think about it: 400 quid a month is 4800/year x 7 = 34 grand Almost double the estimated NE wage from this thread You could afford twice as many curries! Quote Link to comment Share on other sites More sharing options...
QuietObserver Posted June 21, 2005 Share Posted June 21, 2005 Checked out the Grove Park website which tells us that the oval contains 95 apartments, we can assume that approx one third of these are still for sale based on the Sanderson Young site! You also have to wonder whether all phases have been released and if any have been bought off plan just to try and make a fast buck, can't wait for the data to be released on nethouseprices.com! <{POST_SNAPBACK}> I agree! Looking at the Sanderson Young site it appears that at least a third of the Oval apartments were bought for off plan speculative reasons, but as new flats are still available I guess the momentum ran out before they could be sold on at a profit. Think we'll be seeing more of this soon too. There are a few Knightsbridge Court flats on the Pattinson site & it looks a bit desperate. One is up in the next auction and another is listed as blatantly wanting a quick sale. BTW - the house that started this thread looks like it is still available - seems eerily empty when you drive past it, compared to the lived in houses surrounding it. Seems like the penny is starting to drop up here Quote Link to comment Share on other sites More sharing options...
George Posted June 22, 2005 Share Posted June 22, 2005 newcastle, newyork, newcastle, newyork, newcastle newyork.... newyork 250k for a flat with "plug sockets" in geordie ville pmsl the worlds gone mad said ermintrude, what next... Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 22, 2005 Author Share Posted June 22, 2005 I agree! Looking at the Sanderson Young site it appears that at least a third of the Oval apartments were bought for off plan speculative reasons, but as new flats are still available I guess the momentum ran out before they could be sold on at a profit. Think we'll be seeing more of this soon too. There are a few Knightsbridge Court flats on the Pattinson site & it looks a bit desperate. One is up in the next auction and another is listed as blatantly wanting a quick sale. BTW - the house that started this thread looks like it is still available - seems eerily empty when you drive past it, compared to the lived in houses surrounding it. Seems like the penny is starting to drop up here <{POST_SNAPBACK}> Reference 'The Oval', I would say that the first three properties listed on the Sanderson Young website were purchased off plan and the other twenty-seven are the new builds still awaiting their first purchaser! The first three properties listed under 'the oval' include a lot of detail, where as the other twenty-seven have nothing more than their plot number, price and the number of bedrooms. I shall endeavour to find out whether this is the first release or have they actually sold sixty-five apartments already. Quote Link to comment Share on other sites More sharing options...
Pollard Posted June 23, 2005 Share Posted June 23, 2005 Reference 'The Oval', I would say that the first three properties listed on the Sanderson Young website were purchased off plan and the other twenty-seven are the new builds still awaiting their first purchaser! The first three properties listed under 'the oval' include a lot of detail, where as the other twenty-seven have nothing more than their plot number, price and the number of bedrooms.I shall endeavour to find out whether this is the first release or have they actually sold sixty-five apartments already. <{POST_SNAPBACK}> Quote Link to comment Share on other sites More sharing options...
Pollard Posted June 23, 2005 Share Posted June 23, 2005 Reference 'The Oval', I would say that the first three properties listed on the Sanderson Young website were purchased off plan and the other twenty-seven are the new builds still awaiting their first purchaser! The first three properties listed under 'the oval' include a lot of detail, where as the other twenty-seven have nothing more than their plot number, price and the number of bedrooms.I shall endeavour to find out whether this is the first release or have they actually sold sixty-five apartments already. <{POST_SNAPBACK}> That explains'The Oval', but what is wrong with Knightsbridge? Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 That explains'The Oval', but what is wrong with Knightsbridge?<{POST_SNAPBACK}> The Knightsbridge Court development Gosforth in my opinion is grossly overvalued for what it is! Sandwiched between Asda, the very busy Great North Road, Regent Centre and Gosforth High School! Many of the units remain vacant with many For Sale and available To Let, this I beleive to be a good example of speculating and persons buying these properties off plan to try and make a fast buck, only now unable to sell or let they could be about to get their fingers burnt! Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 (edited) The Knightsbridge Court development Gosforth in my opinion is grossly overvalued for what it is! Sandwiched between Asda, the very busy Great North Road, Regent Centre and Gosforth High School! Many of the units remain vacant with many For Sale and available To Let, this I beleive to be a good example of speculating and persons buying these properties off plan to try and make a fast buck, only now unable to sell or let they could be about to get their fingers burnt!<{POST_SNAPBACK}> Have just done a quick search with rightmove.co.uk for the postcodes NE3 2JW AND NE3 2JZ which are for Knightsbridge Court, the search revealed ten apartments For Sale. We also have pattinson estate agents who list eleven apartments at least one of which is going to auction! I bet there are many more apartments at Knightsbridge Court For Sale that are not even listed. Edited June 23, 2005 by neilrich Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 That explains'The Oval', but what is wrong with Knightsbridge?<{POST_SNAPBACK}> Hello Pollard, I'm curious and you've got me thinking, you've registered specifically to ask about Knightsbridge Court with the two posts above. Firstly welcome aboard, secondly why Knightsbridge Court have you a vested interest in this development, either way your input would be appreciated so what are your thoughts? Quote Link to comment Share on other sites More sharing options...
Quokka Posted June 23, 2005 Share Posted June 23, 2005 looks like.. Quote Link to comment Share on other sites More sharing options...
urban_hymn Posted June 23, 2005 Share Posted June 23, 2005 What's all that crap in the foreground? Robert Mugabe would soon shift that lot! Quote Link to comment Share on other sites More sharing options...
Withnail Posted June 23, 2005 Share Posted June 23, 2005 The other thing that struck me today was the amount of commercial office space under construction and available To Let, for example next to the centre for life and down on the quayside behind the law courts I find Trinity Gardens a massive office and retail development! Just what Newcastle needs at the moment more shopping malls and more empty offices! <{POST_SNAPBACK}> In the Long Benton/Four Lane Ends area there are now literally acres of brand new empty office buildings. In an era when so many jobs are being outsourced to India it would seem unlikely that many of them will find tenants. Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 (edited) looks like..<{POST_SNAPBACK}> The Real Knightsbridge Court. £215k!! Edited December 6, 2005 by neilrich Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 In the Long Benton/Four Lane Ends area there are now literally acres of brand new empty office buildings.In an era when so many jobs are being outsourced to India it would seem unlikely that many of them will find tenants. <{POST_SNAPBACK}> The commercial property market in Newcastle upon Tyne is another timebomb! I know of those developments at West Moor/Four Lanes Ends. The Great North Park is another interesting one, a large business park on former green belt next to the airport and only one company Sage Accountancy Software, the rest of the land now going to waste and in the current economic climate I can't see this changing. Quote Link to comment Share on other sites More sharing options...
Withnail Posted June 23, 2005 Share Posted June 23, 2005 What are the commercial developers thinking? Who on Earth do they think is going to rent these offices? Why do they keep building more and more of them right next to previously constructed empty buildings? Nothing seems to make any sense any more. Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 23, 2005 Author Share Posted June 23, 2005 What are the commercial developers thinking?Who on Earth do they think is going to rent these offices? Why do they keep building more and more of them right next to previously constructed empty buildings? Nothing seems to make any sense any more. <{POST_SNAPBACK}> You've hit the nail on the head! I often wonder about the companies behind these developments and those at the top responsible for making the decisions! They might as well just throw their money down the drain, it would probably be cheaper! Business Parks such as Cobalt and Balliol contain large empty multi story office complexs! Quote Link to comment Share on other sites More sharing options...
Pollard Posted June 24, 2005 Share Posted June 24, 2005 Hello Pollard, I'm curious and you've got me thinking, you've registered specifically to ask about Knightsbridge Court with the two posts above. Firstly welcome aboard, secondly why Knightsbridge Court have you a vested interest in this development, either way your input would be appreciated so what are your thoughts?<{POST_SNAPBACK}> Hi Neilrich First, I have only really posted one item; the first seemed to re-post your original message while trying to answer it. The chatroom remains a mystery! I am looking at information from various sources to see how house prices relate to other economic data to see if there are any underlying trends. I became quite fascinated by the string of comments this forum were exchanging. I would normally only guest on such sites, but having seen what might be a ‘result’ on the The Oval, it raised by interest in Knightsbridge, for which comment seemed to have fallen away. Your follow-up seems to prove “location, location, location”. The series of comments on this site, which extended to commercial last evening, seems to promote ‘doom and gloom’ and is at odds with the general view that Newcastle publicise. Would you say that this forum represents the typical feelings of the ‘man in the street’? Quote Link to comment Share on other sites More sharing options...
Withnail Posted June 24, 2005 Share Posted June 24, 2005 The series of comments on this site, which extended to commercial last evening, seems to promote ‘doom and gloom’ and is at odds with the general view that Newcastle publicise. Would you say that this forum represents the typical feelings of the ‘man in the street’? In Newcastle the 'man in the street' mainly thinks about football and Abbi Titmuss (spelling?). This does not leave room for very much else. It's not a case of 'promoting doom and gloom'. All economies have to be based on some kind of production, whether industrial, agricultural, or 'services' of whatever kind. Newcastle does not appear to have a viable economy since it produces nothing tangible and provides no unique 'value-added' services. It's main function in recent years has been to provide cheap rents and labour for the call-centre 'industry' but this work is rapidly drying up as these jobs are off-shored. The supply of residential and commercial premises here is increasing rapidly even as the city's population is falling and employment prospects dwindle. There would therefore appear to be little justification for the current property price bubble. As I think Alan Greenspan once said, 'things that can't go on forever, don't'. Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 24, 2005 Author Share Posted June 24, 2005 Hi NeilrichFirst, I have only really posted one item; the first seemed to re-post your original message while trying to answer it. The chatroom remains a mystery! I am looking at information from various sources to see how house prices relate to other economic data to see if there are any underlying trends. I became quite fascinated by the string of comments this forum were exchanging. I would normally only guest on such sites, but having seen what might be a ‘result’ on the The Oval, it raised by interest in Knightsbridge, for which comment seemed to have fallen away. Your follow-up seems to prove “location, location, location”. The series of comments on this site, which extended to commercial last evening, seems to promote ‘doom and gloom’ and is at odds with the general view that Newcastle publicise. Would you say that this forum represents the typical feelings of the ‘man in the street’? <{POST_SNAPBACK}> Pollard In my opinion this thread does not represent the feelings of the typical man or woman on the streets of Newcastle upon Tyne, quite the opposite, I find that most people are totally oblivious to a potential economic downturn. Many of my friends actually believe in Gordon Brown and what he says about banishing ‘boom and bust’, this being something my mates only associate with the conservative party! I had a recent conversation with a friend about average house prices ten years from now, in his opinion at least 50% higher than they are Today, whereas I suggested that prices could actually be lower. He thought that I was bonkers, citing inflation and how his mother’s house had risen in value one hundred fold since 1971! I had to say what about deflation but I got the impression that this was way above his head thinking that you only ever have inflation! Terrorism and the price of oil are the only risks that he sees to the UK economy, continued globalisation was not something that he had considered. It is a difficult subject area and people up here in the North are not interested, all they care about is the current value of their properties and how they have increased over the last seven years. Apologies for spreading doom and gloom, but what I post on this thread is my opinion based upon what I see on the street. In real life I’m actually a very optimistic and positive person who is always smiling. Regards Neil Quote Link to comment Share on other sites More sharing options...
neilrich Posted June 28, 2005 Author Share Posted June 28, 2005 (edited) Whilst in Newcastle today I noticed yet another new development, built by Persimmon it's called 'The Bar' and has been built on what is basically a roundabout opposite The Centre for Life. Big Banner down the side of the building advertising 143 Luxury appartments For Sale, 'Selling Fast' the banner says!!Checked the persimmon website and prices start at £152000 for a one bedroom appartment and from £174500 for a two bedroom. I wonder how many luxury appartments have been built in the centre of Newcastle or along the quayside in recent years? It must be several thousand, perhaps this helps explain the surplus of rental properties in Jesmond. <{POST_SNAPBACK}> I wonder how Persimmon's new development 'The Bar' 143 luxury apartments in central Newcastle is selling, I just don't believe their advertising banner that claims selling fast! Interesting quote from Today's Persimmon press release 'He added that the group had been careful to minimise its exposure to inner-city housing, which is experiencing difficult conditions'. The Bar! Edited December 6, 2005 by neilrich Quote Link to comment Share on other sites More sharing options...
Withnail Posted June 29, 2005 Share Posted June 29, 2005 Yet another Persimmon Homes block going up opposite the Chillingham Arms on the Heaton/Byker border next to the railway lines. Views of decaying warehouses provide an authentic urban feel to the development along with constant train noise. Around 150 apartments at approx £150,000 each. Quote Link to comment Share on other sites More sharing options...
simplybtl Posted June 30, 2005 Share Posted June 30, 2005 Why all doom and gloom? Anyone posting on here actually work within the property market? Quote Link to comment Share on other sites More sharing options...
QuietObserver Posted June 30, 2005 Share Posted June 30, 2005 Simplybtl - welcome! It's not doom & gloom - seems like realism to me! I don't work in the property market, but I know people who do & off the record their views are more in line with what you read here than what you read in the Journal Homemaker at the moment. Do you work in the property market? If you think this thread is barking up the wrong tree then please tell us why Quote Link to comment Share on other sites More sharing options...
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