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House Price Crash Forum


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  1. Has anyone heard of a company called Browne-Mckenzie?? I've just received an unsolicited telephone call from thic company asking me if I want to get involved with one of their investment schemes. Allegedly, they own plenty of brown field land in city centre locations which they sell onto developers / local authorities & make a profit on the sale. I'm not sure what I would have to do to make some cash out of this, but if it were such a great proposition, why aren't they doing this alone, why get me involved??!! When I stated to the muppet on the telephone that I felt that city centre flat
  2. Slightly off topic........... What do people think about spread-betting on certain shares going down eg. Rightmove, various banking stocks, etc. There has to be a way to make some profit on the downside. Cheers Sleepy
  3. I was at a wedding recently & got talking to a mortgage adviser for a large firm. Here are some of the interesting pearls he told me : The central Leeds appartment market is 'fcuked' & prices are dropping. There are hundreds of empty flats & there is planning permission for 100,000 more ( yes one hundred thousand!! ) mainly around Wellington Street & East End Park. Allegedly, one property developer is being investigated by 2 large property-related businesses for inflating the prices of flats by offering 'financial incentives' to surveyors. These flats would then be sold on to
  4. Hi there Flat 75 Magellen House belonged to one of my best friends & the quoted prices match up exactly with what he told me - ie. a £5k loss. What the figures don't reflect is that the property was on the market for around 2 years, his initial asking price was £250k, he'd improved the flat ( underfloor heating in the bathroom, expensive lighting throughout ) & that he had to throw in a plasma screen TV & expensive sofas to clinch the sale! He was desperate to get rid of this property in the end, especially as it was right above the bin store, creating a bloody awful reek. The str
  5. If your landlady gets official looking mail sent to the address ( as previous landlords of mine have done ), it may be that she is attempting to evade paying capital gains tax when she sells it by claiming she lived there herself. Maybe you should get in touch with the Inland Revenue to let them know the situation.
  6. I am a doctor from an Accident and Emergency / Anaesthetics background. Not all GPs are 'the dregs of the medical profession'. Some of the most intelligent & competent colleagues I've had became GPs - this is because they're compassionate, have great communication skills, are able to mange time & other staff well & have the ability to learn & retain medical knowledge on a myriad of different areas. They also realise that the vast majority of medical problems are minor illnesses / injuries & a very small percentage are the major problems that end-up being looked after in h
  7. I have been tracking the prices of some new-build flats in North Leeds. They have been on the market for around 2 years now & are located on one of the most expensive streets in the city. Of the original 23 flats only 5 have sold! 16 are classified as 'reserved' - to my knowledge 12 of these were never put on the open market; I have a feeling the builder never tried to sell these but put them directly for rent ( they even offered the first months rent at half price ). Its strange how the other 4 properties have now become 'reserved' instead of 'sold' - I wonder if again the builder has g
  8. Hi Adren She bought the house with my father 40 years ago when they first got married. Then they had 2 children, so it was an ideal house for the 4 of us. Since then my father has died & myself & my brother have moved out so the house is too big for her alone - in common with most people of her age she's looking for a bungalow. She's not that keen on moving because of the logistical upheaval of moving as well as the emotional ties she has to her house I think.
  9. Hi there My mother has had the opposite experience of the Leeds housing market!! She put up for sale her 5 bed detached house in Alwoodley 22 months ago at 350k. Its impossible to buy a house of that size in Alwoodley for that price usually, but the house is next to a pub & does need a little bit of modernising. I must admit that I think the estate agent gave an accurate ( as oppose to exaggerated ) asking price for the house. Since its been put on the market, she has had to drop the price to 340k. Over the 22 months she has had plenty of lookers & about 10 offers; none of the offer
  10. Hi there Elvis A similar situation has happened in a flat development in North Leeds ( check out the Millerhomes.co.uk website & look up Woodmoor Court ). There are 23 appartments in 2 blocks on one of the most desirable streets in the city. One entire block of 12 was never even put up for sale - they went straight for rent - so I'm assuming it is the developer who is leasing them out. Of the other 11 flats, 6 have sold & 5 are still available even though they have been on the market for around 18 months. What is your interpretation of when new build flats go directly to be rented ou
  11. Qualified from university in August 2001 with around 30 grand debt ( student loans, professional study loans, overdraft, borrowing from friends ). Now, after 5 years, I owe 3.5 grand to the student loans company, have cleared all other debts & have about 40,000 pounds in the building society. Basically, at uni I didn't think about what I was spending at all - I thought I could pay all my debts off very quickly when I started work. When I did start work I realised the accrued debts would burden me for many more years than I thought unless I grafted harder. So, I did loads of extra work in
  12. Greetings from Civitavecchia ( the main port for Rome ) Right now I'm working as the Ship's Doctor onboard the Grand Princess cruise ship! After working for around 5 years as a hospital doctor in Yorkshire I decided that I needed a career break without becoming totally de-skilled so I applied via the shipsdoctors.com website to work on the 'High Seas'. The work is very GP - orientated with the occasional more serious problem & can be quite busy. The kickback is that I get to see the world ( Med until November then Central America until early December. In Monte Carlo tomorrow! ), get to m
  13. Hi. Long time observer, rarely post. In central Leeds there are huge numbers of "executive flats", most of which are empty, & many more flats are being built presently or have planning permission in place. What I find laughable is that so many are called "City Centre" but are blatently in the "Inner City"! About 5 years ago I would not have dared set foot in many of these areas. From what I can see rents are coming down & wouldn't cover many of the mortgages. A friend bought one of these flats about 3 years ago 'off-plan' for £220,000 & put it up for sale virtually as soon as it
  14. Know what you mean! A friend lives in one of the larger developments on the river (hundreds of flats). The other day he told me that he was on the residents committee for these flats. As he is about the least community-spirited person I've ever met I asked him why this was. He explained that there were loads of empty flats & the ones that were inhabited were tenanted. He believes that the Central Leeds market will degenerate into a bloodbath & many of the blocks will become council property or demolished & turned into car parks.
  15. Property auctions-plenty of residential property unsold, commercial faring better. Central Leeds-Hundreds of empty flats & plans to build 1000s more eg.Brewery Wharf, site of Howarth Timber (600+ flats & 200+ room hotel)! Chatting to acquantence who works for a city centre estate agent who says that business is very slow. Mate has had flat on market for 18 months & will probably sell for less than he bought for. North Leeds-Loads of reductions. 'Redundancies' at estate agents. Rumours of one large estate agents having made contingency plans to offload business sharpish if everyth
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