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#1 manchester50

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Posted 09 February 2012 - 11:37 AM

We've been half-heartedly looking at houses for a couple of years now - primarily just on RM, with viewings probably limited to 6 over that period.

Given the combination of lack of supply + silly asking prices we've struggled to find many candidates (hence the v low number of viewings I guess). Before we took on our current rental, that saw our search area massively widen over time as we gradually started to consider new areas.

Curious whether others are particularly flexible on location, or very keen on a particular suburb/village? It's been a positive experience in some ways as we've got to know far more areas than previously - when our horizons/experiences were pretty much limited to the city centre/didsbury/chorlton/sale/timp/alty/hale

#2 TheCountOfNowhere

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Posted 09 February 2012 - 11:48 AM

We've been half-heartedly looking at houses for a couple of years now - primarily just on RM, with viewings probably limited to 6 over that period.

Given the combination of lack of supply + silly asking prices we've struggled to find many candidates (hence the v low number of viewings I guess). Before we took on our current rental, that saw our search area massively widen over time as we gradually started to consider new areas.

Curious whether others are particularly flexible on location, or very keen on a particular suburb/village? It's been a positive experience in some ways as we've got to know far more areas than previously - when our horizons/experiences were pretty much limited to the city centre/didsbury/chorlton/sale/timp/alty/hale


"Given the combination of lack of supply"

There is no lack of supply, there are thousands of houses up for sale, some for 3 or 4 years now. The problem is the prices, they are a joke.

Expand your search you just get more over-priced sh*tholes. Same problem, different area.

#3 manchester50

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Posted 09 February 2012 - 12:37 PM

"Given the combination of lack of supply"

There is no lack of supply, there are thousands of houses up for sale, some for 3 or 4 years now. The problem is the prices, they are a joke.

Expand your search you just get more over-priced sh*tholes. Same problem, different area.


I don't really understand what you're saying. There are far less houses up for sale than 5 or 10 years ago. Regardless of whether the housing market is overpriced (as per today) or reasonably priced (some theoretical point in the future) anyone looking would still prefer more choice.

Disagree with your final statement. The wider your area the more chance you have of spotting something reasonably priced, or falling across someone who needs to sell (divorce, repossession etc). Also areas vary dramatically in terms of the house price falls seen over the last couple of years - not the pointlessly broad north/south divide, but even within my search area I can see which towns/villages have dropped overall and which have been slower to.

#4 Nomadd

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Posted 09 February 2012 - 01:12 PM

Curious whether others are particularly flexible on location, or very keen on a particular suburb/village? It's been a positive experience in some ways as we've got to know far more areas than previously - when our horizons/experiences were pretty much limited to the city centre/didsbury/chorlton/sale/timp/alty/hale


For me, it's only places I know where I've lived/worked in the areas before. That would be Hale/Bowden/Hale Barns (far West section)/Timperley (South-Eastern section) or the better parts of Alty (Alty has some pretty poor areas, IMHO.) I did consider Knutsford at one stage after a stint at Barclays, but it's too much of "the sticks" for a townie like me. :)

So, all-in-all, a little flexible, but not hugely so. I don't want to be too far away from family and friends - that would make the move back to the NW a pointless exercise for me.

I'm finding the supply of property OK'ish in the Spring/Summer, but then I'm probably not too fussy on what I want (smallish 3/4 detached with a reasonable garden on a quietish road.) Don't mind buying a "dump" and doing it up, either (in fact I would much prefer that, as I'd want the place to be "mine" when I moved in.)

Still, whilst I'm on the stellar rent deal I'm on at the moment, I'll hold fire. Buying could still be several years away for me. No rush. And the longer I leave it, the more cash I can stuff into my pension (as the house is already a cash purchase at this point; I just don't want that purchase to leave me broke! :))
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#5 manchester50

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Posted 09 February 2012 - 04:35 PM

I thought myself very much a townie after 10yrs in the city centre (& other UK cities) but am firmly out in the sticks - near that Barclays actually if it's the really rural place SE of Knutsford?

We like both but have got quite keen on having some greenery around us. I'd definitely still consider better Alty/Hale if we could get a place with a large garden but they're like gold dust and priced through the roof. Not as keen on Sale/Timp but def more for your money. For suburban I don't mind Bramhall, parts of Cheadle Hulme, Poynton etc - but it's not like they save you loads on Alty by moving further out.

We've looked much further afield as well but he appeal of a fast train/tram into Manc is still there for me.

#6 7 Year Itch

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Posted 09 February 2012 - 04:42 PM

if anything I'm the opposite. I had a few ideas when we moved out of the city centre but now, 2 years later, we're pretty much set on maybe a dozen streets in one area. As far as buying goes, the money we have isn't going to get us anything 'nice' in anywhere even remotely upmarket so I'm in no rush. Wife says otherwise of course.

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.


#7 manchester50

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Posted 09 February 2012 - 04:47 PM

if anything I'm the opposite. I had a few ideas when we moved out of the city centre but now, 2 years later, we're pretty much set on maybe a dozen streets in one area. As far as buying goes, the money we have isn't going to get us anything 'nice' in anywhere even remotely upmarket so I'm in no rush. Wife says otherwise of course.


One part of me wishes we were like that. When you give yourself too big a canvas you can't make a decision about anything. If I was saying, "ok it's a Hale tree road semi with 4 beds and a garden for x" then at least you have a clear focus. We've spent ages checking out this area, that area, this school etc without really making much progress.

To give you an idea, my 'Rightmove drawn areas' shows 388 new houses in last 7 days...

#8 7 Year Itch

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Posted 09 February 2012 - 04:56 PM

One part of me wishes we were like that. When you give yourself too big a canvas you can't make a decision about anything. If I was saying, "ok it's a Hale tree road semi with 4 beds and a garden for x" then at least you have a clear focus. We've spent ages checking out this area, that area, this school etc without really making much progress.

To give you an idea, my 'Rightmove drawn areas' shows 388 new houses in last 7 days...

I say streets but really I'm limited by price and round here that means only certain streets with certain houses. I want off-road parking but I'm never going to get it, a garden is a must but other than that I'm fairly relaxed on build/style.

I'm not overly fussy on schools either. Trafford has (by metrics) some of the best achieving primary schools in England - all the local ones are rather good yet still parents want that one a mile away not this one on their door step. Perplexes me. Other people who move to the area for the good schools and then want to send their kids private on the basis its cheaper than what they were paying in childcare. My flabber is gasted everyday.

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.


#9 R K

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Posted 12 February 2012 - 01:34 PM

We've been half-heartedly looking at houses for a couple of years now - primarily just on RM, with viewings probably limited to 6 over that period.

Given the combination of lack of supply + silly asking prices we've struggled to find many candidates (hence the v low number of viewings I guess). Before we took on our current rental, that saw our search area massively widen over time as we gradually started to consider new areas.

Curious whether others are particularly flexible on location, or very keen on a particular suburb/village? It's been a positive experience in some ways as we've got to know far more areas than previously - when our horizons/experiences were pretty much limited to the city centre/didsbury/chorlton/sale/timp/alty/hale


Are these the type of props you're interested in?

http://www.rightmove...l?premiumA=true

http://www.rightmove...y-31420975.html

http://www.rightmove...y-36688958.html

http://www.rightmove...#?thumbnailId=1


Going back to the previous 2 boom/busts, nominals only fell very briefly due to higher inflation/wage rises. It's clearly taking longer this time around due to lower inflation and the combination of housing and financial bust, but nominals look to have bottomed (for all intents/purposes) Spring '09, so it's mostly going to be real falls now.

The houses I've followed through from initial asking to actual sold have gone for c. 7-10% below original asking. I'm only looking at stuff I'd want to buy in that. i.e. ignoring cr4ppy stuff in poor areas I wouldn't want to live in. That's what I expected to happen from the beginning and is turning out to be the case in practice. The exception being in speculative re/developments where the over-leveraged/developers have got spanked. Also what I expected. I've noticed some of those developments are slowly coming back to the market, but no significant price drops yet. We've now into year 5 since NRK. They'll just keep on QEing until we're done and the real lows are in. I think that's very obvious now.

(And for those who claim to know the area well but patently don't, it's Bowdon, not Bowden}


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#10 Nomadd

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Posted 12 February 2012 - 02:09 PM

(And for those who claim to know the area well but patently don't, it's Bowdon, not Bowden}


Ah, the spelling trolls are out today! Still, have you managed to find Hale yet? You were clearly lost on the last thread in this section you posted on... :)

And as regards the rest of your post - lines like "The houses I've followed through from initial asking to actual sold have gone for c. 7-10% below original asking. That's what I expected to happen from the beginning and is turning out to be the case in practice." - well, that's what you've been claiming for 5 years and near 17,000 posts now. And if you believed it, then why didn't you just buy a place 5 years ago and be done with it? I mean, that would have been a much more sensible strategy than paying rent for 5 years and then wasting your time trolling 17,000 posts on HPC, wouldn't it?

EDIT: I'd dig out the posts to remind you, but you've changed your log-on name at HPC at least 20 times since them. ...Nothing like running away from your own trolling, is there. :)

Edited by Nomadd, 12 February 2012 - 02:40 PM.

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#11 Nomadd

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Posted 12 February 2012 - 02:46 PM

I thought myself very much a townie after 10yrs in the city centre (& other UK cities) but am firmly out in the sticks - near that Barclays actually if it's the really rural place SE of Knutsford?


Yep, that's the place: Radbroke Hall. Nice location to work. I keep hearing stories of them closing the place - off-shoring the work - but it seems to have survived so far. Still know a few folks who've been there 20 years or so.
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#12 manchester50

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Posted 12 February 2012 - 02:55 PM

The kind of houses that Red Knight linked to were the sort that we were interested in 12 months ago. Now I look at them and feel they're nothing for your money - especially given the tiny gardens/yards. I'm stating the bleedin' obvious but it's all about location in Hale/Bowdon at that price, i.e. you'd get similar houses for 150-250 around where I grew up.

If we had a much higher budget then this would suit us exactly: http://www.rightmove...y-32798623.html

Realistically though we can't get the size/house type/garden in those areas, so are more looking at places like this:

http://www.rightmove...y-20136729.html (although not Mobberley directly as the aircraft noise is too prevalent).

Also looking at a number of towns/villages west of the M6 now (i..e between the M6 and Chester) which is still pricey, but cheaper.

#13 manchester50

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Posted 12 February 2012 - 02:57 PM

Yep, that's the place: Radbroke Hall. Nice location to work. I keep hearing stories of them closing the place - off-shoring the work - but it seems to have survived so far. Still know a few folks who've been there 20 years or so.


Would be very convenient for me that place.

#14 Nomadd

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Posted 12 February 2012 - 04:37 PM

The kind of houses that Red Knight linked to were the sort that we were interested in 12 months ago. Now I look at them and feel they're nothing for your money - especially given the tiny gardens/yards.


Exactly - they are dreadful for the money. Stupidly overpriced. You'd have to be a fool to buy such "cr4ppy stuff" (to use RK's misspellings) in the currently falling market.

I'm currently watching this: http://www.rightmove...y-36746543.html

I saw a couple of very similar houses in "prime locations" (with bigger gardens) come on last year at 800k-850k, and finally sell for just over 700k. Pull that back to 600-650 over the next few years and I'd jump. Mind you, a little on the large side for me, and I've seen equally nice, but smaller stuff, sell for substantially less. That's what I'll probably end up going for.

I don't think you are being too fussy, TBH. When you are shelling out this kind of money and planning to live there for 20 years plus, you might as well hold out for something you truly love for the price. And with prices heading no-where but down in the short-to-medium term, I don't see a problem in doing just that. :)

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#15 Nomadd

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Posted 12 February 2012 - 04:47 PM

Would be very convenient for me that place.


Yeah, took me roughly 20 minutes door-to-door to drive there - and 5 minutes of that was sat at the roundabout in Knutsford town centre. Mind you, you had to hit the carpark before 9:00 a.m. or you didn't stand a chance of getting a parking spot.

Barclays seemed to lay a lot of people off there in 2009, and in recent times seem to be struggling to recruit them all back. I just had a job there pop in my mailbox today, the second in a couple of weeks. I've emailed a few folks I know there are they say they are busy recruiting at the moment. Very strange place - can't seem to make up their mind whether to expand or contract from one week to the next! :)

If you ever get the chance to work there, I'd definitely recommend popping over for a good look around the place.
Wherever I lay my hat, that's my home.




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