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smiley1

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  1. Noticed this one coming up today: https://www.rightmove.co.uk/property-for-sale/property-85247828.html Last sold Jan 2019 : https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=74049236&sale=8994874&country=england This is in admittedly a posh part of Beeston and appears to be a good level of refurb but nevertheless a near doubling of price in just 9 months represents quite the mark up...
  2. This one: https://www.rightmove.co.uk/property-for-sale/property-70257379.html Has come back after being SSTC, must have fallen through. Guide price 155-160k. Last sold 57.5k in 2014.. quite the markup. This is in a seriously bad part of town which for some strange reason has become uber hip with young trendy types. It might be close to the lace market but it is a world away. Trust me, I used to live 2 streets away and saw it all. The 300k house in Wollaton is now 270k and still on. I think they have fixed the garden wall though so that's nice. Not much seems to have changed other than certain places are sticking a little, good affordable houses in decent areas are still going quickly. A 3 bed semi a couple of streets away from us in Wollaton direction sold in a few days, it was on at 200k. When I was looking to buy in 2014 I went to view this one: https://www.rightmove.co.uk/property-for-sale/property-62971428.html It was priced at 120-130k and I offered 115k which was rejected, it stayed on for a year unsold and unreduced. Now it has sold within a couple of weeks, don't know the sale price. The house has no back garden and no back windows since it is build up against the original rock of the town. It is in a quiet part of town but very central so I am not surprised it has sold, more surprised it didn't sell last time.
  3. Back on Charlbury road again, this came up today at 300k. Fliptastic! https://www.rightmove.co.uk/property-for-sale/property-59427249.html Last sold Dec 2017 for 205k https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=59427249&sale=55619849&country=england Love the crumbling garden wall on the refurb, But hey, it is in a "sort" after location so all's well!
  4. Well nearly 2 years after I last posted. We bought over a year ago in Nottingham but the main reason I wanted to post is an update on the Nottm property scene as things have felt differently here now for several months. Nottingham had the dubious honour of having one of the highest annual HPI in the country back in 2017 with family houses priced at < 200k and remotely decent located in a remotely good area generally selling for offers over. It was within this context that we bought... something remotely decent in a remotely decent area. The price was ok and we are paying less than we were in rental together with overpayments that are getting the mortgage down quite fast. Anyway, as I mentioned Nottm has felt different in the last few months. If anyone is interested I can post some links together with some commentary based on my frequent observations of Rightmove and knowledge of the area. First, Charlbury Road. https://www.rightmove.co.uk/property-for-sale/property-68072041.html We actually lived on this road while looking to buy. It is right on the edge of Wollaton, a generally fairly upmarket area about 3 miles from the city centre, however this street itself borders a much rougher council area (Bilborough) and as such prices have historically been much more subdued than on other similar streets, even with the park nearby. Cue 2017 where a couple of nicely presented semis broke the 200 mark. Fast forward to oct 2018 and a load of semis went on at a very similar time the majority listed at offers over 200k. The above is an example of about 8 semis on this street all similarly priced and in various degrees of maintenance. Some are clearly ex rentals. A couple of listings have ben removed in the last wfew weeks, none as far as I can see have sold. The most overpriced (230K+) have had a couple of minor reductions by 5k or so but still sticking. The reason I am writing all this is that all of these houses 12 / 18 months ago would have sold at almost any price so the current stickiness is quite interesting to note as is the "offers over" on almost all of them... Second, just for a bit of fun: https://www.rightmove.co.uk/property-for-sale/property-78276383.html This is number 445 and was last sold at 210 in July 2017, appears to be a flip. The area is a fairly rough area (Radford / Hyson Green) not particularly somewhere that you would want to hang around in the middle of the day let alone at night so although done up very nicely it is the old adage of the best house in the worst street. To give you some context you could buy a mid terrace in the Park area (poshest part of town) for a similar price although it would admittedly not be as characterful.
  5. To be honest I would question why a supposedly first world country like the UK would be encouraging this kind of building activity. I can see if this was actually given the go ahead then shanty towns full of these types of structures would probably start to appear especially around London and in the south east, what I think would also start to happen is the "value" of these types of structures would sky rocket so that they were more in line with that of traditional housing. What would definitely not happen is the cost of housing decreasing by any significant amount. Unscrupulous landlords would take advantage and rent these out for near normal rents and lo and behold our "solution" turns into another problem of even worse quality housing than before and ugly to boot. The problem with housing in this country is the monetization of it, sort that problem out and everything else resolves itself.
  6. https://www.hometrack.com/uk/insight/uk-cities-house-price-index/Print?nodeId=18735&type=methodology According to this they use land reg data on pairs of price points for properties that have sold more than once so in theory should be fairly accurate. I can't speak for the other cities on the report but to be honest what I'm seeing in Nottingham over the last 6 - 12 months reflects what the report says ie strong price growth.
  7. Well 8 months went by and so I thought I would update this. We will start looking to buy around July. We are buyers currently in rented, not looking to sell again in 5 years so would like something that is right long term hopefully until we are 6 feet under. Over the last 12 months unfortunately prices in Wollaton where we are ideally looking have gone up a LOT nevertheless there is still value for money out there. We are a couple both working in reasonably well paid jobs so I feel that there are currently certainly options for us here. We are also looking at the nicer parts of Beeston or Bramcote as backup search areas. In general I get the feeling this is a strange time to be starting off house hunting here, up until around a couple of weeks ago there was a drought of anything decent, then suddenly there seemed to be a huge increase in new listings. I am not sure if this is just a short term phenomenon or whether it is part of longer term trend, at the minute anything half decent in a half decent area and not at an inflated price sells pretty quickly. In general in Nottingham there is some right **** listed at scary prices in particulay I have notice listed a couple of places in the area around Robin Hood Terrace and Campbell Grove, classic examples of nicely done up houses in a very very ropey area. (I haved very close to here in the past) One sells in excess of asking price then the next one is listed at 5k more than sale price. 145k. This may not seem a lot but bear in mind in 2013 these were going at less than 100k. On on Shortwood Close a small close of ex LA houses, in admittedly a very central location near lace market, sold in a week in 2014 at 120k now listed at 150-160k with nothing additional done! Is 120k too low? is 160k too high? I have not bothered checking whether it has sold. This a house where you can hear the neighbours conversation because the walls are so thin (we viewed same style of house one street away). Over 300k things look very sticky, there is definitely still value for money at that level. I am seeing lot of very nice 30s detached with large garden in nice areas not selling at 250 - 300 and either reduced or taken off the market. 150 - 200 seems to be where there is most competition for anything decent. Below 130 again there seems very little interest (possibly tradtionally more likely being buy to let now not shifting?) Anyway enough of my rambling, I will update as our search progresses.
  8. Nottingham. Last couple of weeks there have been a noticeable increase in volumes newly listed all of a sudden, it is suddenly a tap was turned on compared to the drought of the previous ~ 12 months. Prices are a bit meh, some kite flying, but occasionally something comes on that is reasonably priced. Quite a few reductions but as part of that a reduction to "offers over" nonsense so not really a reduction.
  9. Apologies if already posted. http://www.rightmove.co.uk/news/house-price-index/
  10. I live in Nottingham have been tracking prices for ages. Wollaton has gone up significantly in price over the last 12 months ( i know this because we are looking to buy here soon and am getting pi**** off with 40%+ rises in just a few months!) and anything remotely decent in fernwood catchment is selling for any money. In other areas there are some kite flying prices but also seeing a lot of reductions. I suspect the problem as alluded to before is chains are incomplete. In nottingham as everywhere there is a chronic shortage of anywhere decent so very little choice but from what i've seen i don't think there is a sudden mad frenzy of london money pouring in. Interesting as the statistic is what might be more interesting is a summary showing 1) date property went on the market 2) date reduced (if applciable) 3) date sold (if applicable) 4) time period between date sold and present date 5) time period between date sold and date completion i don't know if anything like that exists at all or whether it would be a manual exercise. that way we can understand better whether stuff is just sitting there in unformed chains or whether something else is going on.
  11. Hi folks I'm wondering if anyone else is following Nottingham prices lately? We (me and girlfriend) are looking to commit to buy in about 12 months and have been keeping an eye on listings and prices whilst getting deposit money and other matters sorted out. It seems like a mixed story, there are lots of reductions around and and I notice quite a lot of places that get SSTC or pulled and then appear as a new listing a few weeks or months later. These reductions seem to be happening even for "popular" houses in good locations eg granny's 3 bed semi in a nice part of West Bridgford, which would have been almost unheard of a year ago. In our area of interest (Wollaton) and our particular streets of interest houses seem to be selling very fast (< 1 week) if reasonably priced but there are also quite a few kite flying prices that stick on the market for months. At the moment it still feels like there is reasonable value for money especially for somewhere that needs a bit of work doing. We are renting in Sherwood at the moment and I'm always amazed at how expensive it is to buy in the area considering what is on offer, IMHO having been here a year it seems like a very borderline area with plenty of rough patches. A high street with a grocer and a handful of "artsy" shops and micropubs but no proper supermarkets except Lidl at the Carrington end and a few small Co-Ops. Will keep an eye on things, hopefully Nottingham is not on the verge of any kind of mega bubble at the moment!
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