silentwatcher

The 480pcm is repayment and it has a maintenance/ground rent of just under £100pcm. Compared to other flats we have looked at, the size is good, the area is good but I realise there is a ceiling to what a 1 bed can achieve. There are some on the market touching the 180k mark which I think is a crazy price to pay! I feel the exposure to a negative market is slightly reduced at the 90k mark and as previously said, a 50% loss at this point will be a big loss but recoverable! Thanks again to everyone who replied!

Thanks for the advice and quick response! I'll have a better look into the auction side of things,I never even thought of trying there,cheers! With regards to other properties, I have looked in a few places but they either don't have parking ( I was told this can be an issue in Newcastle and would affect re-sale) and are around the same price, or they are in not so nice areas, or areas which I would be happy with her walking back by herself. The area she lives now (jesmond) is really nice but out of my price range unfortunately. I shall widen my search to other areas though and look closer for a second bedroom as well. Cheers again, a new avenue has opened up!

Hi, First post and that so go easy please!! I'm thinking of buying a 1 bed flat to stay in Newcastle with my girlfriend and am wondering if people expect prices to fall continuously or have they bottomed out? I realise that there are a multitude of newish flats out there but have found a good sized one for 90kish, in a student area, (i work away on shifts so want the place to be busy so my girlfriend is safe whilst I am away). Is this a reasonable price or am I better renting with her? Currently only seen 1 bed rental flats circa 500-600pcm but reckon I could get a mortgage for 480ish. Thanks in advance!