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South Manchester Prices


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#1 Guest_ringledman_*

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Posted 05 February 2012 - 12:48 PM

Been looking around South Manchester.

Mostly Bramhall and Wilmslow.

Prices seem to be priced way above the average selling price of 2007-2010.

Anyone seem a similar pattern?

Am shocked thaty some properties around the £240k mark have no similar priced sales on the street with the maximm sale price the last 4 years only £190k or so.

Anyone see a similar pattern? Have the South Manchester suburbs followed London is staying around the 2007 peak?

Seems like a bubble to me. The market seems busy so how close to asking price are properties now going for?
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#2 vroomvroom

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Posted 05 February 2012 - 05:03 PM

Don't belive the agents - lots of overpriced stuff in wilmslow but also some more realistic priced items

STD exec home sold oct 2007 for £550k - sold last sept for £402k (it went to offers over so this was the top bid)

http://www.rightmove...country=england


Also 4 bed house, good area/street but in need of refurb for circa £175k - paxford place

#3 vroomvroom

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Posted 05 February 2012 - 05:13 PM

Place we rent last sold in sept 2006 for £465k has been for sale for couple years with no bids above high £300's

Common house price wisdom used to bank on plus 7% a year, so today it should be worth over £650k

#4 vroomvroom

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Posted 05 February 2012 - 05:17 PM

Place we rent last sold in sept 2006 for £465k has been for sale for couple years with no bids above high £300's

Common house price wisdom used to bank on plus 7% a year, so today it should be worth over £650k

#5 Nomadd

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Posted 05 February 2012 - 08:02 PM

Been looking around South Manchester.

Mostly Bramhall and Wilmslow.

Prices seem to be priced way above the average selling price of 2007-2010.

Anyone seem a similar pattern?


I only go by sold data, not asking prices. And I'm not seeing what you state above; in fact, quite the opposite.

Can you point to any recent actual sales data showing a general trend of above 2007 prices being achieved?
Wherever I lay my hat, that's my home.

#6 Guest_ringledman_*

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Posted 05 February 2012 - 08:30 PM

I only go by sold data, not asking prices. And I'm not seeing what you state above; in fact, quite the opposite.

Can you point to any recent actual sales data showing a general trend of above 2007 prices being achieved?


Hi Nomadd. I take your point. I am just shocked at the level of asking prices in comparison to historical data for the street.

In the bracket I am looking at £200k-£280k property sells fairly quickly.

So on the basis of your research how much less than asking is property actually going for?

Cheers.
Men for the sake of getting a living forget to live.

Margaret Fuller

The only liberty an inferior man really cherishes is the liberty to quit work, stretch out in the sun, and scratch himself.

H.L. Mencken

One does not discover new lands without consenting to lose sight of the shore for a very long time.

André Gide

#7 Nomadd

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Posted 05 February 2012 - 11:12 PM

Hi Nomadd. I take your point. I am just shocked at the level of asking prices in comparison to historical data for the street.

In the bracket I am looking at £200k-£280k property sells fairly quickly.

So on the basis of your research how much less than asking is property actually going for?

Cheers.


I think it really depends on the exact area and the type of property. In the nicest parts of S. Manc., £200-300k doesn't really go too far, and that's a very competitive price bracket to be in, as people can usually "squeeze" that extra finance if they have to (slightly larger mortgage, overtime, spouse back-to-work, borrow off family elders, etc.) I've seen plenty of Semi's that were hitting £300k in 2007 drop way back to £220k or so in "tier 2" locations - better parts of Sale/Timperley. A family member recently sold a place in Didsbury after 12 months on the market, and that was peaked at near £350k in 2007 and she had to accept £270k in the end. I also know of quite a few others who have £500-600k properties on the market (2007 peak) that they just can't get rid of - those prices are simply not being hit any more.

I'm tracking some of the bigger stuff in Hale/HaleBarns/Bowden, and some of the drops there are pretty eye-watering - anything from £250k to £1 million+ on the largest stuff (which is way beyond what I need anyway.). I watched one smaller place come on last Spring in Hale at £760k, which I was pretty shocked at, as the highest recently sold price on the street was £675k. Admittedly, this property was one of the nicest I'd seen, with very large gardens, a fantastic extension, great location, etc., and would have been listed in 2007 at ~£850k, based on what I was seeing at the time. Anyway, it finally sold at Xmas for ~£675k, so kinda wasted it's time on the market all last year at £760k, slowly wandering it's way back downwards. Still, the "under £300k" market remains very tight in Hale or similar - as other posters have found out - as once again people will squeeze the extra cash to be in the location they want (schools, transport, etc.) Overall, it's a pretty strange market, purely dependent upon which bit of it you are tracking. I'm sure you're finding Wilmslow/Bramhall much the same.

I think you need to take into account the wider economic picture - just look at the huge job losses AZ has announced, for example. I don't think 2012 is going to be quite the stellar market the EAs think it is. And, of course, it's the onset of the Silly Season, so properties are being listed - and re-listed - for the expected "Spring Bounce", so always have crazy opening numbers assigned to them. I'd suggest holding fire until the year unfolds a little. Unless you are a cash buyer, in which case just start putting in offers that you believe are sensible, rather than what an EA wants to hear. Plenty of people on HPC seem to have been "rejected", only to find themselves being called up by the same EAs a few weeks/months later when a "sold" property "unexpectedly" came back on the market. :) No harm in testing the waters.

Edited by Nomadd, 05 February 2012 - 11:47 PM.

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#8 manchester50

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Posted 07 February 2012 - 09:53 AM

I'm very familiar with South/South of Manchester (Alty, Hale, Bramhall, Poynton, Wilmslow, Knuts, Disley, Marple, Bollington etc etc) as we've been looking for a couple of years, sold a place and have put in offers. I think you get a massively different picture depending which price bracket you're looking at. If you're looking at 800k+ then there are some big discounts from 2007 knocking around. My bracket is 500-700 and is as dull as dull can be - definitely not the same level of discounting as the top, or the competition you see lower down the chain.

This might be stating the obvious, but the ability to get a decent price is strongly tied to how fussy you are. That's always going to be the case to some degree or other, but at the moment with a v low level of supply it matters more. We're very fussy (character/period house, detached/semi, v large garden, (semi)-rural surrounds, not on main road, 4 beds, -decent schools) hence very little is available that meets our criteria. Because our list of candidates is so short, and they tend to be fairly special houses, they attract a lot of interest and sell within a few months (rejecting our 15%-20% below offers out of hand).

If we were interested in 1960s/70s/80s onwards housing, were willing to compromise on garden size, live on a main road etc then I'd be taking a more scattergun approach with offers and am sure I would hit someone desperate to sell.

Generally the stuff I would go for is currently priced at 750+ and I'd need/want to be able to buy at ~600 to avoid a large mortagage. I expect when we do buy it will be a combination of further, trickle-reductions in prices, matched by a gradual increase in our deposit.

We rent currently but will buy within the next 6-18 months to have stability for the kids schooling.

#9 bonse

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Posted 07 February 2012 - 03:14 PM

Don't belive the agents - lots of overpriced stuff in wilmslow but also some more realistic priced items

STD exec home sold oct 2007 for £550k - sold last sept for £402k (it went to offers over so this was the top bid)

http://www.rightmove...country=england


Also 4 bed house, good area/street but in need of refurb for circa £175k - paxford place

auction property guide £175 - £250, needs a bit more than a refurb, but its main problem is the large sub station in the garden.

#10 8 year itch

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Posted 07 February 2012 - 09:46 PM

http://newsmanc.co.u...hester-suburbs/

Trendy middle class people who live in the ‘vibrant’ and ‘cosmopolitan’ areas of South Manchester are today starting to get concerned about how the snow will affect their middle class, mid-week activities. Manchester saw between 5cm and 10cm of snow fall over the weekend and continued freezing temperatures will mean that the crystalline water ice version of precipitation is likely to remain for a number of days.

“I’m meant to have a Bikram Yoga class at 11am on Monday”, said West Didsbury mother-of-two Francesca Bartholomew. “But there’s a strong possibility that the schools will be closed, so I will probably have to look after my children Xavier, 4,  and Amelia, 6, instead. It’s devastating.”

“Could you please make sure you put West Didsbury?”, added Francesca. “I don’t want people thinking I live in East Didsbury. I’m not a savage.”

Chorlton-cum-Hardy business owner Hugo Grilf is equally concerned. Grilf runs Ven Space, a Venezuelan-themed vegan cafe and chess club on Barlow Moor Road.

“We have a cookery class arranged for Tuesday morning”, Grilf explained. “Acclaimed lesbian author and Venezuelan food enthusiast Maria Lappergap was due to come in and teach local residents how to make a vegan version of Bien Me Sabe, a type of Venezuelan coconut layer cake. This is now in doubt, it’s such a shame.”

“Some of my girlfriends bought me a voucher for a meditation and reiki healing session which I’d booked for Monday evening”, said Sale resident Felicity Russell who owns Sass!, a digital business to business boutique PR consultancy for the fashion industry. “I’ve tried tweeting the owner to see if they are open but I’ve not heard anything back. I have no idea what I’ll do.”

News Manc reporter and Altrincham resident Melanie Garlogie has seen the panic unfold firsthand and warned that things could escalate.

“I’ve not seen anything like it since the big snow of 1998″, she said. “You name an activity and you’ll find that it’s being cancelled in South Manchester. Poetry readings, 1950s Argentinian film screenings, owl knitting clubs, gentle boxercise for new Mums, Advocaat-based cocktail evenings, gyrotonic exercise classes, organic pork-pie making sessions, ironic rollerskating, Orangina appreciation societies, unicycle repair classes, feminist literature book clubs, calligraphy marathons, stretch and play toddler groups. I could go on and on, but it’s safe to say that they’re all in doubt at this stage.”

“South Manchester is essentially at crisis point”, said Garlogie. “The next few days will be critical.”

Reports of looting at a Fairtrade artisan bakery in Hale Barns could not be confirmed as News Manc went to press.

There is no ladder.

JY


No need to sell up, the next phase of the economics cycle is going to be very positive for anyone that owns property.

All I'm sayings is, don't listen to the property bears people, they are wrong.


#11 Nomadd

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Posted 08 February 2012 - 08:29 AM

http://newsmanc.co.uk/2012/02/05/news-panic-engulfs-trendy-south-manchester-suburbs/


Good one. :)

But... Surely the well-heeled brigade are all into skiing, so the snow would provide the opportunity for a little off-piste activity, no? And, of course, the 4 wheel drive system in the Range Rover could be engaged to make it to the local park.

I see the snow adding at least 10% to local house prices.
Wherever I lay my hat, that's my home.

#12 8 year itch

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Posted 08 February 2012 - 08:47 AM

Good one. :)

But... Surely the well-heeled brigade are all into skiing, so the snow would provide the opportunity for a little off-piste activity, no? And, of course, the 4 wheel drive system in the Range Rover could be engaged to make it to the local park.

I see the snow adding at least 10% to local house prices.

4WD is no good when you're riding on 22" chrome spinners with low profile performance tyres. Maybe I should bring snow chains for Bugaboos to the market.

I literally just discovered that site yesterday. Not quite the Mash but the Tesco opening 3 new stores and the one about 73% of BBC staff not being able to find Salford on a map deserve far wider coverage.

I should add that I don't want to be middle class but I sure as hell want my kids to benefit from the opportunities that Trafford has rather than Hulme, my last local area.

There is no ladder.

JY


No need to sell up, the next phase of the economics cycle is going to be very positive for anyone that owns property.

All I'm sayings is, don't listen to the property bears people, they are wrong.


#13 Venger

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Posted 11 October 2013 - 11:38 PM

The opinion of my HPC-Mum below. I had to call around to collect something I was storing in the garage. She was out, but had left me this by the kettle.


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#14 Venger

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Posted 18 November 2013 - 10:51 AM

Another of my Mum's scribbles on Stockport Times West Homes insert (14 Nov 2013). Although not worth putting the pic of her scribble up by itself, there's a few bits in the article itself worth a read. You may have to strain your eyes to read it, sorry. I can't find an online source for same article.

Some glimmers of sense in it, by the Edward Mellor guy. Although I don't agree with all of it - including his "laws of economics." I tend to think the HPI of this year, or prices more or less kept stable here in the NW, has been a result of the announcement of HTB2 in budget. Market tends to react immediately or very quickly to such announcements. including sellers expecting higher prices in future, and proceed-able buyers willing to pay more, in expectation HTB2 will push prices higher anyway.

I should add, at other times she swings the other way with her attitude, to frustration with us at not being home-owners, getting ahead. Disappointment in us, which hurts a bit, but at least we have savings and no debt. Especially towards me as I could have bought a long time ago, instead of fearing HPC, only to learn policy would shift to rewarding large debtors and with all the other measures to protect house-prices, and hurt savers.

Mostly she's that way after hearing her friends from same age-group say how well their children are doing owning homes. They even used to brag how big their mortgages were - as a reference to how well they were doing to be allowed such big mortgages, or an indication/reference to how expensive their adult-children's homes must be = success.


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Edited by Venger, 18 November 2013 - 10:56 AM.


#15 sisyphal

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Posted 18 November 2013 - 12:28 PM

Some glimmers of sense in it, by the Edward Mellor guy.


Yep, surprisingly sensible for an EA in the media.

Hope he's right on the "the shortage in supply will be short term and very quickly supply and demand will be back in balance" part.

I'm seeing that at the lower end of the market (2 bed terraces) but not so for slightly larger houses (3 bed semi near good school) yet.




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