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#16 Quokka

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Posted 19 April 2005 - 08:56 PM

The west end's obviously never going to be the safest place to own property in Newcastle, never mind let!  However, things have improved a lot with CCTV etc.

Despite all the problems though, prices seem to have risen the highest in the west end compared to anywhere else.  Many old school landlords have offloaded some complete rubbish to BTL novices recently at stupid prices.  Scarily, some of this is still selling - this pair of flats sold for £80K at last month's Pattinson auction and would have been around £10-20K not so long ago!

Gerald Street, Benwell

Here's last month's auction results in full

Pattinson Auction Results - March 2005

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A lot of dodgy stuff there. I presume auction is a last resort for places they can't sell or need to sell quickly. If so the numbers should rise and prices fall quicker than the rest of the market.

#17 Quokka

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Posted 25 April 2005 - 11:00 AM

I guess one could argue that the regional economy is stronger and unemployment has fallen over the last five years, but is our economy stronger today?  Iím trying to think of the many quality employment opportunities that have been created over the period that shall benefit our local economy into the long-term, but I canít think of any!  Looking forward if house prices do go into reverse, what shall be the impact on our consumer driven regional economy?????

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Maybe this is where the jobs have come from:

http://icnewcastle.i...-name_page.html

#18 neilrich

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Posted 25 April 2005 - 02:41 PM

Maybe this is where the jobs have come from:

http://icnewcastle.i...-name_page.html

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An excellent find! A former colleague of mine who took early retirement in 2003 took a public sector job at Longbenton, they gave him a one week long course in-house, then a week later he was making decisions and dishing out thousands of pounds worth of benefits! He ended up leaving after a short time, but he descibes the set up as a complete joke and talks of what a mess this once great nation of ours is in!

I wonder what the average wage is for the public sector within the North East?

Edited by neilrich, 25 April 2005 - 03:20 PM.


#19 Quokka

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Posted 25 April 2005 - 03:06 PM

An excellent find!  I wonder what the average wage is for the public sector within the North East?

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I wouldn't have any idea with that, but public sector wage figures are probably public information if you know where to find them.

I suppose these jobs are low paid but secure (as long as labour is returned)

#20 QuietObserver

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Posted 25 April 2005 - 09:49 PM

Not sure how secure some of these public sector jobs are, actually. I know someone working for an agency who manages several quite large teams of temp admin staff working across the public sector in the North East - they're paid peanuts for paper shuffling and he's been told to be ruthless on hiring & firing if he has any problems with staff. Most IT in Longbenton seems to be outsourced now and support services such as catering/cleaning etc. have been going that way for years - don't know who'll be left directly employed for the Government at this rate!

Anyway, on a complete tangent - I saw a new estate agent has opened up in Gosforth!!! Bradley Hall have a new 'Executive' Agency open just off the High Street - despite the overpriced rubbish they had in the window, there were a few listed as sold already! I have noticed a few new Sold SSTC boards in gardens around Gosforth, but the market's not exactly crying out for more EAs yet. Took a walk through Jesmond yesterday and things weren't looking so rosey, especially in terms of rentals - most students are usually sorted for next year by now & there are loads of boards everywhere. Saw a couple of auction boards creeping in too - and we all know what that means ;)

#21 brid

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Posted 26 April 2005 - 08:13 AM

Thats a worrying article there, and the comparrison with soviet bloc countries being nearly the same as the NE with regards to their dependance on the public sector .... wow.

When taxes are raised or spending cut - i wonder how the NE will do?

#22 nervous northerner

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Posted 26 April 2005 - 08:27 AM

I guess one could argue that the regional economy is stronger and unemployment has fallen over the last five years, but is our economy stronger today?  Iím trying to think of the many quality employment opportunities that have been created over the period that shall benefit our local economy into the long-term, but I canít think of any!  Looking forward if house prices do go into reverse, what shall be the impact on our consumer driven regional economy?????

<{POST_SNAPBACK}>



http://www.timesonli...1582905,00.html

#23 swervy_ervy

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Posted 26 April 2005 - 09:01 AM

Took a walk through Jesmond yesterday and things weren't looking so rosey, especially in terms of rentals

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I sold up from west jesmond last year after 5 years there, prices are indeed mad but those to let signs are always up 12 months of the year so that is not necessarily indicative of loads of unlet flats/houses.

#24 neilrich

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Posted 26 April 2005 - 09:22 PM

I sold up from west jesmond last year after 5 years there, prices are indeed mad but those to let signs are always up 12 months of the year so that is not necessarily indicative of loads of unlet flats/houses.

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I'm with Quietobserver on this one, when out running I run through West Jesmond and have done so for many years, since the beginning of this year something changed, there has never been so many boards! Streets lined with 'For Sale' and 'To Let' boards, streets such as Forsyth Road or Lavender Gardens. Don't believe me then go take a look!

#25 swervy_ervy

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Posted 26 April 2005 - 10:30 PM

I'm with Quietobserver on this one, when out running I run through West Jesmond and have done so for many years, since the beginning of this year something changed, there has never been so many boards!  Streets lined with 'For Sale' and 'To Let' boards, streets such as Forsyth Road or Lavender Gardens.  Don't believe me then go take a look!

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Fair do's. Its been a year since I was in Newcastle - I remember the signs used to annoy me as they make the place look a complete dump.
I just had a quick look on rightmove at 2 bed downstairs tynside flats (what I had). Prices seem to have continued to go up in the last 12 months - crazy - surely the weathy students parents will stop buying there soon, its ludacriously overpriced!

#26 Phaedrus

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Posted 27 April 2005 - 02:07 PM

Anyone know anything about the Crosby development in Gosforth on the former P&G site. I skirt it on my way to Seghill, the two days a week I work there. I know there was fierce opposition from local residents, especially those on The Drive. Are these houses selling?
Phaedrus the Moderate Bear* predicts a "soft landing" ie a decline in house prices of 30-35% over the next few years.

mortgage

*this is meant to be ironic, in actuality, I am more inclined to the blood bath scenario.

Shakerbaby:Where is everybody?

cgnao:On the wrong side of the fan.......

#27 QuietObserver

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Posted 27 April 2005 - 11:35 PM

Don't know much, but I believe the first phase sold very quickly - perhaps due to them coming on sale last year. Looks like subsequent phases weren't so lucky, as there are still new ones for sale on the Crosby Site and I expect a few bought by the off plan brigade to start appearing soon like this one here - looks like it's never been lived in!

Having said that, I walk past the place regularly and there does seem to be quite a few people living in it, despite the ongoing building works and it's certainly a lot more desirable than that new block near Asda (discussed earlier in the thread)!

#28 Phaedrus

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Posted 28 April 2005 - 06:30 AM

Update:Got the glossy Sanderson Young brochure through my door yesterday. They print this every 6 months and put it through the doors in Gosforth, Jesmond etc. Probably charge an extra 1% comission to pay for it :rolleyes: . Noticed a couple of Crosby places for sale already, also some on the Great North Park development. Can't have been lived in for a year yet, and truly ridiculous prices.

The other thing I noticed was that there were a few properties in the brochure that would normally not make it in. Sanderson Young tout themselves as being a cut above the rest, only offering the best etc. Well there was some right sh*te in there. There seemed to be quite a few vacant possessions, too. I also noticed Marsden Hall has not sold yet, that was in the last brochure 6 months ago. Taken together this may be indicative of a slowdown in Newcastle.
Phaedrus the Moderate Bear* predicts a "soft landing" ie a decline in house prices of 30-35% over the next few years.

mortgage

*this is meant to be ironic, in actuality, I am more inclined to the blood bath scenario.

Shakerbaby:Where is everybody?

cgnao:On the wrong side of the fan.......

#29 Phaedrus

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Posted 28 April 2005 - 07:18 AM

Noticed on my way to work this morning, Chartered Surveyor office has opened at the bottom of Salters Road, opposite The Gosforth Hotel. This used to be a solicitor. There also seem to be some house pictures in the window, so they are perhaps also doing some Estate Agency "work" on the side. Ho hum, perhaps the Newcastle market is still bouyant.
Phaedrus the Moderate Bear* predicts a "soft landing" ie a decline in house prices of 30-35% over the next few years.

mortgage

*this is meant to be ironic, in actuality, I am more inclined to the blood bath scenario.

Shakerbaby:Where is everybody?

cgnao:On the wrong side of the fan.......

#30 Graeme

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Posted 28 April 2005 - 08:49 AM

With regards to the earlier comments about Knightsbridge Court, I'm currently living in a similar sort of development (Sovereign Court and Regency Court) in the southeast corner of Jesmond. I've seen a couple of two bedroom flats for sale at around 190K, whilst the rents are around 650 - 750 per month.

For some reason, my landlord is very keen for me to stay too. ;)

Graeme




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