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Leicester Drops


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#1 TheLine

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Posted 06 November 2010 - 08:28 AM

There's some fairly substantial drops in leicester now, loads of huge victorian type properties with 5 beds plus hitting the market, presume are BTL properties being dumped. Many of the drops seems to be at the top end of the market so far.


For example this one 409,950 to 250,000'

http://www.rightmove...y-26078305.html

13 October 2010 20:59:54

* Price changed: from '275,000' to 'Offers in Region of 250,000' [Found by n/a]

22 September 2010 10:17:47

* Price changed: from '274,950' to '275,000' [Found by n/a]

20 September 2010 17:29:23

* Price changed: from '290,000' to '274,950' [Found by n/a]

09 September 2010 17:30:10

* Price changed: from '280,000' to '290,000' [Found by n/a]

07 September 2010 18:54:30

* Price changed: from 'Offers in Excess of 320,000' to '280,000' [Found by n/a]

21 July 2010 19:52:31

* Price changed: from 'Offers in Region of 350,000' to 'Offers in Excess of 320,000' [Found by n/a]

06 July 2010 17:30:34

* Price changed: from 'Offers in Region of 370,000' to 'Offers in Region of 350,000' [Found by n/a]

03 June 2010 21:06:53

* Price changed: from '409,950' to 'Offers in Region of 370,000' [Found by n/a]

25 May 2010 16:47:21

* Price found: 409,950 [Found by n/a]

#2 shar46y

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Posted 15 November 2010 - 09:30 AM

Mind if I hang around on this thread? We are likely to be relocating to Leicester within the next year for job reasons. We don't know anything about the market in Leicester so would like to learn more. Most likely we will STR, but maybe if we find a good deal we might buy?!!

We are looking in Knighton and Stoneygate, saw this development:
http://www.hazeltonh...e_elms_16/list/

#3 exiges

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Posted 15 November 2010 - 10:01 AM

Thanks for the tread, my search radius includes south Leicestershire.
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#4 shar46y

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Posted 15 November 2010 - 08:50 PM

know it,being built in someone's back garden.very small area for 6 houses.especially 3 supposed 4 bed det.I wouldn't buy off plan there.
PM me if you need any help/advice,whislt no expert on housing,I know the local demographics well.


Thanks for the info! I thought the layout of the houses looks pretty good but was concerned about the size of the plots, so you have confirmed what I was thinking. The location is very good for us though, really want to end up near there.

Our preference right now is 50-50% whether to buy or STR, so will definitely be looking at the rental options.

#5 shar46y

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Posted 19 November 2010 - 12:38 PM

chatted with someone familiar with that development and apparently there may be a flooding issue courtesy of the tributary to the local brook that flows by the side of the development,under the main road to the brook(should be clear on an OS map).apparently,when the rains torrential it has backed up.so I'd cover that angle.can't imagine it's that big an issue.


We first tried contacting the developer via their webpage, waited quite a while with no reply. Finally emailed the agents directly and they eventually responded. They have "had a lot of interest" and most of the houses are already reserved or sold. I'm a bit surprised given what I've read about the market in Leicester, but maybe it's because of the desirable location near some decent schools? Had been hoping we could get a good deal but not if they're apparently selling so well. Anyway they say all will be completed by next April (how often are developments finished on time???), this is a bit earlier than we were planning to move so will probably give up on this development.

Leaning more towards STR as time goes on, at least until we get a clearer idea of the market and exactly where we want to live.

#6 shar46y

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Posted 25 January 2011 - 12:36 PM

Me again... we have seen a house in Knighton that we quite like, asking price is 350K. Problem is that despite looking on Zoopla etc, not being Leicester locals we don't really have a 'feel' for the local market so we don't have an idea of how much to offer at least to open negotiations.

I am still willing to STR if we can't secure a house at a price I am happy with, but at the same time as the reality looms am dreading the hassle of moving twice (have written a bit about it on another thread) and so it would suit us to find somewhere to buy and just get on with it.

Any ideas from those of you more familiar with the Leicester market would be very much appreciated!

#7 ntb

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Posted 27 January 2011 - 10:15 AM

Mind if I hang around on this thread? We are likely to be relocating to Leicester within the next year for job reasons. We don't know anything about the market in Leicester so would like to learn more. Most likely we will STR, but maybe if we find a good deal we might buy?!!

We are looking in Knighton and Stoneygate, saw this development:
http://www.hazeltonh...e_elms_16/list/


Knighton and Stoneygate are amongst the nicest parts of Leicester. Clarendon Park too although it's nostly terraced and tight on parking. You can rent a 3 bed semi for upwards of 600 which is not much more than they were in the mid 90's. Sale prices are a bit stickier than the city as a whole but but seem to have finally turned and are heading down fairly rapidly.

#8 ntb

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Posted 27 January 2011 - 10:16 AM

Me again... we have seen a house in Knighton that we quite like,


Link?

#9 shar46y

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Posted 27 January 2011 - 08:05 PM

Link?


http://www.rightmove...y-17519241.html

#10 Gemonster

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Posted 28 January 2011 - 12:24 AM

http://www.rightmove.co.uk/property-for-sale/property-17519241.html


I presume you've already looked at the previous sales?

28/10/2005 305,000
25/10/2002 158,000

Although I dont think this is enough to draw any conclusions as to current valuation? Local markets and all that!
I cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Amzanig huh? yaeh and I awlyas tghuhot slpeling was ipmorantt!

#11 ntb

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Posted 28 January 2011 - 12:40 PM

http://www.rightmove.co.uk/property-for-sale/property-17519241.html


Very popular road in a very popular area. Right in the centre of the wedge formed by London Road and Welford Road. I don't think the price is badly out of line with the current market. I'd be impressed if you were able to get them to accept much less than 325k (at the moment) which is not to say that you shouldn't try!




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