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Buy Birmingham City Centre?


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#1 jersey1501

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Posted 14 July 2009 - 12:38 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!

#2 SurgeonGeneral

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Posted 19 July 2009 - 08:37 PM

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!


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, 19 July 2009 - 08:38 PM.


#3 AteMoose

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Posted 20 July 2009 - 11:18 PM

Median price for a flat in brum is 90k
Posted Image
a trough of 60->70k for an average flat? (blue line is median flat prices)

http://www.home.co.u..._...ngham&all=1

Edited by moosetea, 20 July 2009 - 11:22 PM.

I have bought a newish (5 years) house in November 2006. I talked the vendor down 30% off peak 2004 price am am paying less than the 2002 price. I feel prices will continue to drop down to the 2001 price but saving for 5 years hopefully means i wont be stung. The price i am paying isn't much above the price the vendor paid for the place when it was new in 2000. However some idiot is trying to flog an identical house on my road for 55k above the price i paid, one month later!?!?! The housing market is frothy, no-one ever knows what the value of a house is, the value is what someone is willing to pay, make sure you pay alot less than the asking price.

Free to collect, like ebay but you dont pay, you just have to collect

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#4 SurgeonGeneral

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Posted 23 July 2009 - 09:37 PM

Median price for a flat in brum is 90k
Posted Image
a trough of 60->70k for an average flat? (blue line is median flat prices)

http://www.home.co.u..._...ngham&all=1

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

#5 BlueRat

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Posted 04 August 2009 - 02:58 PM

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
Result: £52,000

Houseprices.co.uk says:

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

Rest of the results here.

#6 SurgeonGeneral

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Posted 13 November 2009 - 01:10 AM

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
Result: £52,000

Houseprices.co.uk says:

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

Rest of the results here.

Cheers. I'll claim my free prize.


What happened to the OP?

NIck




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