[Quokka]

shocking news from the national press

http://www.independe...th-2371718.html

[stuckmojo]

Quokka, on 17 October 2011 - 01:21 PM, said:

shocking news from the national press

http://www.independe...th-2371718.html

Not so shocking for those who have been reading this thread.

We'd been saying that the public sector cuts would affect house prices.

Honestly, the impact has been minimal so far, but it's increasing and downward pressure on prices is certainly there.

Also, don't forget these are asking prices, not sold prices.

[Spangled]

Just thought I'd update on my situation, having asked the good members of this board for their opinions on certain parts of Newcastle earlier this year...

We ended up buying in Tynemouth. We had narrowed down our search to Tynemouth, North Shields and Whitley Bay (close to the in-laws in Washington but not *too* close...). North Shields offered great value but not always a family-friendly vibe (although I appreciate NS is a large area) and Whitley Bay had some nice bits (incl Monkseaton) but also some real tat, esp close to the stag-happy centre. Tynemouth ticked more boxes for us in terms of family life and good schools, even if we had to compromise on size of property and value for money.

Being a shandy-drinking southerner, I now just have to get used to the cold!

PS Before anyone says it, I'm fully aware of the ups/downs of buying at this stage in the property cycle. For us - with two young children and another on the way - the benefits of having our "own" place outweighed the flexibility/uncertainty of renting.

[Snafu]

Spangled, on 20 December 2011 - 12:18 PM, said:

Just thought I'd update on my situation, having asked the good members of this board for their opinions on certain parts of Newcastle earlier this year...

We ended up buying in Tynemouth. We had narrowed down our search to Tynemouth, North Shields and Whitley Bay (close to the in-laws in Washington but not *too* close...). North Shields offered great value but not always a family-friendly vibe (although I appreciate NS is a large area) and Whitley Bay had some nice bits (incl Monkseaton) but also some real tat, esp close to the stag-happy centre. Tynemouth ticked more boxes for us in terms of family life and good schools, even if we had to compromise on size of property and value for money.

Being a shandy-drinking southerner, I now just have to get used to the cold!

PS Before anyone says it, I'm fully aware of the ups/downs of buying at this stage in the property cycle. For us - with two young children and another on the way - the benefits of having our "own" place outweighed the flexibility/uncertainty of renting.

Tynemouth is lovely, I would love to live there myself (and only have a 20 minute commute instead of 45!).

[spyguy]

Ive just discovered the joy of rightmoves market trends.

http://www.rightmove...=Update+Results

Have you seen the sales drop-off for various NEx postcodes?

Unbelievable!!

[aussieboy]

Looks like a race to the bottom is going on in Peel House:

http://www.rightmove...STC=on&index=10

Almost bought a flat there 20 years ago for 30k IIRC (7% IIR at 120k ?) but ended up with a Tyneside flat instead. Pokey.

[Mr 0.01%]

aussieboy, on 29 June 2012 - 10:25 PM, said:

Looks like a race to the bottom is going on in Peel House:

http://www.rightmove...STC=on&index=10

Almost bought a flat there 20 years ago for 30k IIRC (7% IIR at 120k ?) but ended up with a Tyneside flat instead. Pokey.

I haven't looked at NE1 for quite a while but RM asking prices for city centre slaveboxes seem stubbornly sat around the 100k mark.

Is this realistic? Are actual selling prices much lower? Looking at RM market trends for sold/marketed trends for flats in NE1 it doesn't look like they're shifting much at all...

Sold properties in NE1

And the number of marketed flats seems to be edging up...

Marketed properties in NE1

But here we still are....

[vegraj]

Mr 0.01%, on 16 July 2012 - 04:42 PM, said:

I haven't looked at NE1 for quite a while but RM asking prices for city centre slaveboxes seem stubbornly sat around the 100k mark.

Is this realistic? Are actual selling prices much lower? Looking at RM market trends for sold/marketed trends for flats in NE1 it doesn't look like they're shifting much at all...

Sold properties in NE1

And the number of marketed flats seems to be edging up...

Marketed properties in NE1

But here we still are....

The right move link is on the postcode NE2 which is the Jesmond area as far as I know, mainly students. What do you think of the trend in fewer students moving to the area ddue to increased fees affecting house prices.? I for one think this will put a downward pressure on areas such as Jesmond, Heaton and the West end of Newcastlel.

[vegraj]

vegraj, on 23 July 2012 - 09:52 AM, said:

The right move link is on the postcode NE2 which is the Jesmond area as far as I know, mainly students. What do you think of the trend in fewer students moving to the area ddue to increased fees affecting house prices.? I for one think this will put a downward pressure on areas such as Jesmond, Heaton and the West end of Newcastlel.

Just an update on what I had mentioned earlier. Apparently the Universities are building more halls of residence in the area to compete with the BTL, so this may have a downward push on the price of flats in the student aeas of Newcastle.

[Snafu]

vegraj, on 19 August 2012 - 10:24 AM, said:

Just an update on what I had mentioned earlier. Apparently the Universities are building more halls of residence in the area to compete with the BTL, so this may have a downward push on the price of flats in the student aeas of Newcastle.

My old landlord owned, together with his brother, a stupid amount of houses in Jesmond.

All 6-8 bedrooms. He used to rent out to people up to 30 years old in work, then stopped some of that and rented to students instead for at least our house but many others too It hink (less work every month maybe). This tied in with the parking changes in Jesmond, so maybe as a by-product of that as most people working in the houses had cars, and if you only get parking permits for 2 people in a house of 8 you're a tad screwed renting out to people with cars. Saying that most students had better cars than me in Jesmond (not at all depressing).

[Jeremy1]

vegraj, on 19 August 2012 - 10:24 AM, said:

Just an update on what I had mentioned earlier. Apparently the Universities are building more halls of residence in the area to compete with the BTL, so this may have a downward push on the price of flats in the student areas of Newcastle.

To add to this - Uni of Northumbria are building almost a thousand spaces in the Gateshead town centre development completing in the next few years (just across he water, on the old Get carter car park).

Purpose built, brand new and a hop away from the fleshpots of Newcastle - got to think BTL will be affected.

[stuckmojo]

Jeremy1, on 09 September 2012 - 08:59 AM, said:

To add to this - Uni of Northumbria are building almost a thousand spaces in the Gateshead town centre development completing in the next few years (just across he water, on the old Get carter car park).

Purpose built, brand new and a hop away from the fleshpots of Newcastle - got to think BTL will be affected.

Yep, they managed to design something even more ghastly than the Get Carter parking lot. That's an achievement in itself.

[stuckmojo]

StuM82, on 10 September 2012 - 06:00 PM, said:

There's more than just that. There are absolutely tons of student res. buildings in Newcastle now, must be thousands (tens of thousands?) of rooms and there seem to be ever more applications to build more too. Looks like a bubble and possible future blight on the area when the HE market collapses further due to fees, etc.

I'd imagine there'll still be demand for Jesmond but could hit areas like Heaton pretty hard.

That's a very good point, and the good news associated with that is that BTL landlords will be missing a huge part of their typical "safe" tenants.

On a broader subject, I am finally seeing meaningful price reductions in the areas I keep an eye on (Low Fell and so on). Stuff which was well into 200k now stuck at 170ish and increasing in volume.

[Quokka]

StuM82, on 10 September 2012 - 06:00 PM, said:

There's more than just that. There are absolutely tons of student res. buildings in Newcastle now, must be thousands (tens of thousands?) of rooms and there seem to be ever more applications to build more too. Looks like a bubble and possible future blight on the area when the HE market collapses further due to fees, etc.

I'd imagine there'll still be demand for Jesmond but could hit areas like Heaton pretty hard.

Numbers are down. No surprise with the increase in fees.

Third of Britain's elite universities still looking for students

Also looks like the smart money is looking to leave:

TANNERS & TAYLORS COURT PORTFOLIO

30 bedroom flat for sale


.

This post has been edited by Quokka: 14 September 2012 - 12:05 AM

[Ponomis]

AAAAAAAAAAAARRRRRRRRRRRRGGGGGGGGHHHHHHH! While I realise now is probably not the best time to buy, it makes sense for my family and I. It's so frustrating trying to find somewhere, sellers seem happy to just let their properties sit on the market forever rather than accept anything other than the asking price, even those who claim to have found somewhere they would like to buy. I'm talking specifically the monkseaton area. The rental market isn't much better. I could have sworn when we were renting 3 years ago there was plenty of choice, but not anymore it seems.