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Ski Bum

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About Ski Bum

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    HPC Newbie

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    Skiing and Property.
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    Manchester and Whistler, Canada

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  1. Yeh, you're right actually. Its probably more like 20-25% rather than 10%. I'm looking at a very nice and big 2 bed flat on Zetland Rd for £160,000. I'm sure it would be circa £130,000 in Whalley Range. That Palmiros place has great food but was looking pretty tired when i was there. Its a shame, the bloke who runs it was good fun.
  2. Hi Tyler, Thats a great analysis of the area!! Yes Whalley Range does seem to be a nice area as well (and a good 10% cheaper than Chorlton). Its got larger more inetresting properties, big tree lined streets and generally more space and a nicer feel than Didsbury. Its also more multi cultural, which i like, and not as sterile as Didsbury. The more time i spend round Didsbury the more i prefer Chorlton/Whalley Range. Ive viewed a few really smart flats in Chorlton recently and am doing a second viewing on one on Zetland Rd later today, which is a road i think is very nice. Am i right in
  3. Hi Chicken, I'm coming to the opposite conclusion. Didsbury is certainly smart but Chorlton Green (the area round the Horse and Jockey pub) is in my view the nicest part of South Manchester. Chorlton has the best bars and food shops. As regards Dibsbury I like the West Didsbury area better than the main village. Nomadd, Thanks for the "wait and see" tactic. I used that one in 2009....and got shafted! Flats that i were looking at in 2007/8 for £160k could have been got for £145k last year...now they are back up at near £160k again (sales prices). The local market has been slowly gather
  4. Is anyone looking at buying in these areas at the moment? What are your opinions on these areas? I like Chorlton and am looking at buying here but prices dont seem to have come down much really.
  5. Thanks Garch and Casual Observer....yes i agree that Kagisos statement that nominal values of mortgage debt rise if IRs increase is not correct. Sinking Feeling, I know the Salford situation very well. Your figures are a bit over the top but as a whole its more like 10% empty in Mcr centre and Salford. Its interesting to note that they all still sell on completion (ie the builders are quids in) but that the amateur investors buying them then cant often rent them. I'm not sure if people are buying with the sole intention of renting them to BBC workers, if so they are pretty foolish. Salf
  6. Kagiso...thanks. I dont follow this. How do building societies and banks increase the nominal value of their loans? If you borrow £1 from a bank then youve got to repay the £1 plus interest. How does the £1 increase? Is it purely by interest being added to the loan rather than being repaid? I cant see how a 10% nominal fall in prices could equate to a 25-30% NE situation. Can you explain pls? Thanks
  7. Thanks Casual Observer HPC Convert: you say that theres theories that this current cycle has 5 more yrs to run. I dont read that much on this site anymore and ive missed references to this....have you got any links i can read pls? Kasigo, yes thanks for making the difference between real and nominal. I think most people on here get this difference but its good to make it specifically. However i'm not sure the bulk of the population will get this difference or even notice. Ive never heard someone "in the pub" talk about the real rate of increase in their property prices, they always ta
  8. I have just read that in the last 100 years house prices have only had 7 years of price falls. This happened in the early 1930's and 1990's. I have found figures to support this since 1945, but not earlier. If anyone has information pre 1945 i'd appreciate it. So prices have risen 93% of the years and fallen 7% of the years and only when theres been a huge economic shock.....conclusion: property prices probably wont collapse now. Any comments?
  9. What no takers here....is my post that irrelevant? Actually re reading it, it is pretty boring.
  10. Hi, I've just been to a talk by Martin Ellis (chief economist for Halifax) who stated that properties were now being bought with higher deposits (ie.as a percentage of purchase price) than in the past. I found that hard to believe. Has anyone out there got any graphs or statistics on the point? Obvioulsy this is an important point as if this is the case then the housing market is pretty robust. In fact does anyone have any information on average equity levels compared to debt in property? Thanks
  11. This was the claim made by David Pannell (Durlacher) in feb 2004 and is listed on the front page of HPC under House Price Predictions. He forecast that this would happen by feb 2006. Its obviously not happened and hes wrong. Also the Economist forecast back in 2003 that prices would fall by up to 25%. They admitted in Dec 2005 that this was one of their bigger mistakes (see The World in 2006). Also Rodger Bootle famously went back on his forecast of a 20% fall and lowered this to 5% at the end of last year. All of these are still listed on the HPC front page. So the economists have been
  12. Pedro, As regards your point about standards regulating the rented sector.....yes there are many many rules and regulations in place here in the UK which control standards. I think its better here than in most other countries. Sure it can be better and there are certainly differences in quality between various properties, but it is regulated. In fact a new set of HMO regulations is in the process of being brought in. HMO stands for Houses of Multiple Occupancy which is where alot of lower income people live. All of my flats are well above the minimum required standard, and they need to
  13. Just to get back to the title for this thread....the answer is "yes" in my area, which is South Manchester. I have a small porftolio of rented properties and i have been able to put pretty much all of my rents up recently. I did this over the summer. Some of my properties are now being lived in by STR's and several by Polish workers, who are happy to live 2 people in a 1 bedroom flat...one in the bedroom and one in the living room. Both the STR and Polish workers group were not represented in my flats last year at all. So yes more peole wanting to rent pushs rental prices up...in this case
  14. I saw the documentary about this chap. He was an obvious disgrace and a fraudster. The bad thing was that the BBC didnt actually tell the viewers what the fraud was. I was jumping up and down screaming at the TV, especially when that low income couple ended up with a 27,000 loss which was racked up on credit cards to pay for the deposit. For those of you that didnt spot the fraud, it goes something like this...... A middle man like Mr Spencer finds a development project where properties should sell for, say, 200,000 per unit. He gets the developer to mark the price up to 260,000. Then h
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