North West anyone??

[JohnnyCash]

Manchester City Centre residential market still seems to be booming. Developers are still building and there are still many new developments starting on site.

Prices are still going up a little , though not as steeply as they were last couple of years.

The skyline is just full of tower cranes... and much of the development is residential or with a high proportion of residential. Prices are higher than outside the city centre, but the quality seems to be a little higher in the City.

Outside the city centre there is still life in the housing market. South Manchester is still strong, particularly areas like Chorlton and Didsbury, where prices are still rising.

Manchester doesn't seem to have suffered from price reductions like the rest of the north west. This is largely due to the influx of new businesses and increased prosperity. The city is booming and looks set to continue doing so for some time to come.

[madenph]

Manchester City Centre residential market still seems to be booming.  Developers are still building and there are still many new developments starting on site.

Prices are still going up a little , though not as steeply as they were last couple of years.   

The skyline is just full of tower cranes...  and much of the development is residential or with a high proportion of residential.  Prices are higher than outside the city centre, but the quality seems to be a little higher in the City.

Outside the city centre there is still life in the housing market.  South Manchester is still strong, particularly areas like Chorlton and Didsbury, where prices are still rising.

Manchester doesn't seem to have suffered from price reductions like the rest of the north west.  This is largely due to the influx of new businesses and increased prosperity.  The city is booming and looks set to continue doing so for some time to come.

<{POST_SNAPBACK}>

Manchester prices are rising *because* of the rapidly increasing supply of property?

[George]

Did he just say Manchester and booming in the same sentence LOLOLOL belly laughs.

[JohnnyCash]

Did he just say Manchester and booming in the same sentence LOLOLOL belly laughs.

<{POST_SNAPBACK}>

yes he did... what's so funny Chavvy George ?

[George]

yes he did...  what's so funny Chavvy George ?

<{POST_SNAPBACK}>

LOL @ booming

[xasperated]

We live in Southport and here too house prices have increased by about 250% driven by greed and not by good quality homes. Many (the majority) of the 4 - 5 bedroom detached homes here are need of repair and upgrading. A mediocre 4 bedroom detached house in the Birkdale area of Southport is put on the market at 495K. Where the 4th bedroom is a small box passed on as a bedroom. Two years ago this very same property would have been around 150K to 175K if not lower. The estate agents in Southport are more greedy than the vendors hence they sustain the exagerrated prices even though sales have slowed down dramatically. House prices here are based on putting a wet finger in the air and guessing. There is no science nor business or commercial rational - just greed. Suckers who bought property in Southport a couple of months ago may already find themselves in negative equity. The market has died here but agents still keep the high prices propped on low quality product. Something needs to happen in Southport. Its a retirement community for gosh sakes and it certainly aint Palm Springs at that. Old victorian houses that need to be bulldozed are on the market for 500K as "executive potential", "retaining many original characteristics" and "charming" - come on get real Southport, a dump is a dump is a dump!

Forthe first time ever I received today some emails from a local estate agenst with REDUCED in big red letters accross the front!!! - Is there anyone else fron NW who can share there recent experiences and observations with me?

<{POST_SNAPBACK}>

[George]

Thats what I mean, its greedy Estate Agents, the idiots dont know what houses are worth anymore, and probably neither does joe public. They inflated house prices to stupid levels. Estate agents dont need any qualifications, they arent properly regulated etc. Anyone can become an estate agent. Just open a shop. Look where the mongs have taken us in say 6 years, they have along with some stupid house programs on the telly have increased values by 300% on some properties.

[dude]

Things seem to be happening in Bolton. These two houses are on the same estate, but one is 5k cheaper than the other.

http://www.fish4.co.uk/

http://www.rightmove.co.uk/

The cheaper one was originally on at 220k, and the drop is quite recent. This is also borne out by the Beeb's house price which shows Bolton's detached house prices slipping by 2% (it was 1% last month, so we're going the right way!)

BBC: Bolton Detached

It's all down hill from here.

[dude]

Sorry, I said estate, I meant 'development.'

[Catch22]

http://www.thisismoney.co.uk/mortgages/hou...page_id=57&ct=5

head north !

<{POST_SNAPBACK}>

Yep a classic "Over Bought" market topping out procces in its final stages. But there will always be mugs looking to grab a piece of the action sucked into the market on such drivel.

Analyse it for gods sake, most people would not lodge their pet dog in those places whilst on holiday [ only joking] So is the article suggesting FTB'ers jack their jobs in and head North? Is it buggery its merely an attempt to reassure a failing market all is well.

They the "Money Lenders" pay journs to produce articles to "spin" the market to the advantage of those that employ them.

[Guest Riser]

Looks like some areas of the north are starting to tumble but it may be a couple more months before we see it turn here in Cumbria. We have for sale signs all over the place ad things have almost ground to a halt. Anyone buying now must be mad

HOUSE prices are tumbling in the North York Moors National Park

House prices in park are falling

HOUSE prices are tumbling in the North York Moors National Park.

A recent survey by the park authority estimated that in the past year, prices have dropped by ten percent.

The report also shows that of more than 200 houses that went on the market, only three were valued at less than £100,000.

Judith Ferrier, park planning policy officer, said there had been a significant drop in the number of homes for sale in the past five years, but the number was now rising.

"Many local people are unable to afford market housing in the park, especially those wanting to get a first step on the property ladder," she said.

The survey shows that detached houses in the park which were on the market averaged about £440,000 a year, now the figure is £375,000.

The prices are well above the average for North Yorkshire, the Yorkshire and Humber region and Britain as a whole, said Ms Ferrier.

A report to the park authority's planning committee says 42 new homes were built in the past financial year and plans for a further 156 have received permission.

[jon]

Hi

First post here so ... be gentle.

I live just outside Northwich in Cheshire.

It seems to me, from anecdotal evidence only, that there are a LOT more houses for sale in my area than there were 12 months ago. One agent told me that the incidences of "daft" offers (e.g. offers 20% below asking prices) are on the increase. What he sees as "daft", I see as more realistic, with general public beginning to take advantage of a buyers market I guess.

Anyway, my background is in software engineering, so I've written an application that gathers data on all the properties for sale within a 5 mile radius of my postcode from the RightMove website (about 2,400 properties). It does this on a daily basis and will allow me to analyse trends in asking prices, price reductions, number of properties for sale and so on.

I'll post my unbiased stats from time to time. Perhaps someone could suggest what sort of analysis could be useful (I don't have actual sale price please note). I've only been running the software for 5 days since 1st Sept. but there's already over 20 more properties for sale today than there were 5 days go in this area

Or am I wasting my time

Jon

[the don]

Hi

First post here so ... be gentle.

I live just outside Northwich in Cheshire.

It seems to me, from anecdotal evidence only, that there are a LOT more houses for sale in my area than there were 12 months ago. One agent told me that the incidences of "daft" offers (e.g. offers 20% below asking prices) are on the increase. What he sees as "daft", I see as more realistic, with general public beginning to take advantage of a buyers market I guess.

Anyway, my background is in software engineering, so I've written an application that gathers data on all the properties for sale within a 5 mile radius of my postcode from the RightMove website (about 2,400 properties). It does this on a daily basis and will allow me to analyse trends in asking prices, price reductions, number of properties for sale and so on.

I'll post my unbiased stats from time to time. Perhaps someone could suggest what sort of analysis could be useful (I don't have actual sale price please note). I've only been running the software for 5 days since 1st Sept. but there's already over 20 more properties for sale today than there were 5 days go in this area 

Or am I wasting my time 

Jon

<{POST_SNAPBACK}>

no, you're not wasting your time.

i would do the same if my it skills wre up to it.

i love in chester but do what you are doing manually and by relying on memory. not the most scientific as my memory aint what it used to be.

definitely more properties on the market in chester area.

some seem to be achieving sales( well at least sold subject to contract)

estate agents offices are totally empty.

asking prices in the bottom, mid market seem to be more realistic for properties coming onto the market.

top end still seems to be as ludicrous as ever.presumably enough well heeled people about who will pay what it takes to get the right place.

[Running Bear]

Genius mate, am interested to see what you dredge up

[dude]

I don't have actual sale price please note

<{POST_SNAPBACK}>

You can get (belated) actual prices from http://www.houseprices.co.uk/. Note these can take several months to come through. But in the longer term you may find this helpful.

[jon]

You can get (belated) actual prices from http://www.houseprices.co.uk/. Note these can take several months to come through. But in the longer term you may find this helpful.

<{POST_SNAPBACK}>

Thanks dude. Yes I was aware of www.houseprices.co.uk, the main difficulty is in marrying up the data from that site with the information on RightMove (especially as RightMove or the EAs don't often provide the full property address). I'll keep thinking about it though ...

Cheers

Jon

[simon99]

0.5% over the last quarter is well behind the 2.5%+ nationally.

[dpg50000]

2.5% is the annual increase! The national Q on Q rise has not been 2.5% for a while.  Whichever you look at it all the indices make the North West look one of the bets places in the UK for current homeowners

<{POST_SNAPBACK}>

Hmmm.... funny how Bairstow Eves are having yet another sale on, with reductions of 5 - 25k on the properties in their window (Preston city centre branch).

One in my street has on for a year now, with multiple agencies. Started at £145K, now £135K. Still another 40K to go methinks!

[George]

all the eas have "reduced" signs in them, whats apollo talking about? Now Barrat have signs up "ultimate offer". That wasnt there last week either. 2 more houses up for sale - brand new. Debut range? lalala, all that means is houses are a rip off, its a gimmick. Once the bubble bursts - things like that will be next to worthless.

[George]

Hmmm.... funny how Bairstow Eves are having yet another sale on, with reductions of 5 - 25k on the properties in their window (Preston city centre branch).

One in my street has on for a year now, with multiple agencies. Started at £145K, now £135K. Still another 40K to go methinks!

<{POST_SNAPBACK}>

Yep. Read in the paper, that this guy had his flat for sale for 145k, it went through two agenst- no selly. Now reduced to 129k. He paid 102k in 2002. Why isnt this being added to the "halifax" index? hmmm VI's? Over 10% drop that. Anyway Halifax, can piss off im sick of seeing that irritating black man, and his fricking jam jars on meh telly :angry:

[Catch22]

Latest report from ODPM (another one favoured by this board) quotes "The highest inflation rates in England remain in the north, in North West (7.3 per cent)"

http://www.odpm.gov.uk/pns/displaypn.cgi?pn_id=2005_0188

<{POST_SNAPBACK}>

Like I said a few weeks back appollo [just shows he loves himself] will be sooooooooo sad when the North West goes negative. He has hung every thing on it being positive, trouble with appollo is he is a little man in his own little world.

Instead of opening up the branch, the office mail and then logging straight on to HPC, you would be better employed baking some buns and trying to temp FTB'ers into your empty Estate Agents..........no better still fresh bread and freshly roasted coffee, now that's sells houses....what's that?.......oh I see its the growing shortage of dough that's the problem.......well ring up a friend then....what's that?.....you haven't got any.....oh go on then hang around here if you must

[ToilAndTrouble]

Like I said a few weeks back appollo [just shows he loves himself] will be sooooooooo sad when the North West goes negative. He has hung every thing on it being positive, trouble with appollo is he is a little man in his own little world. 

[...]

<{POST_SNAPBACK}>

That's out of order. I'd hope that we're all secure enough here to allow the bulls to air their views without fear of personal insult.

We might not agree with apollo, but he does tend to back up his views with hard data, unlike many of the blinkered bears around here. Also, if you had been watching the Didsbury market, then you might draw similar conclusions. As for the rest of Manchester and the North West, who knows?

T&T

[Catch22]

That's out of order. I'd hope that we're all secure enough here to allow the bulls to air their views without fear of personal insult.

We might not agree with apollo, but he does tend to back up his views with hard data, unlike many of the blinkered bears around here. Also, if you had been watching the Didsbury market, then you might draw similar conclusions. As for the rest of Manchester and the North West, who knows?

  T&T

<{POST_SNAPBACK}>

Ah your new, right that will explain it.

But if you stick around you will get the measure of the man.

Edited September 12, 2005 by Catch22

[George]

hard data hmm check local ea's.

[simon99]

I have noticed several Bairstowe Eaves for sale boards which have 'New Price' plonked at the top where the 'SOLD' sign normally goes. I haven't seen this happen before.

Let's hope these reductions are just the start of more substantial falls.