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Half Price Flats In Birmingham City Centre


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The Hub is a new development in Birmingham City Centre that they say has not sold well.

Just noticed this ad on the internet which says they're flogging them at 50% of the market rate:

http://www.findanewhome.com/west-midlands/birmingham/birmingham-city-centre/2-bed-flat-for-sale/89ae3b8c-18d8-4307-8c0f-fb5bcd3b7752.fap

The £68,420 tag for a 2-bedder is a lot less than what the developer was asking for (is asking for) on their website:

http://www.crosbyhomes.co.uk/index.php?u=263

I viewed a couple of flats to let there in the summer. Seemed alright. I wonder if other Brum flats are going to go the same way????

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The Hub is a new development in Birmingham City Centre that they say has not sold well.

Just noticed this ad on the internet which says they're flogging them at 50% of the market rate:

http://www.findanewhome.com/west-midlands/birmingham/birmingham-city-centre/2-bed-flat-for-sale/89ae3b8c-18d8-4307-8c0f-fb5bcd3b7752.fap

The £68,420 tag for a 2-bedder is a lot less than what the developer was asking for (is asking for) on their website:

http://www.crosbyhomes.co.uk/index.php?u=263

I viewed a couple of flats to let there in the summer. Seemed alright. I wonder if other Brum flats are going to go the same way????

I think this is this 50% homebuy scheme where you buy half and pay rent on the rest.

Only for mugs imho - why would you pay rent AND a mortgage for a city centre flat that is probably going to drop in value.

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The Hub is a new development in Birmingham City Centre that they say has not sold well.

Just noticed this ad on the internet which says they're flogging them at 50% of the market rate:

http://www.findanewhome.com/west-midlands/birmingham/birmingham-city-centre/2-bed-flat-for-sale/89ae3b8c-18d8-4307-8c0f-fb5bcd3b7752.fap

The £68,420 tag for a 2-bedder is a lot less than what the developer was asking for (is asking for) on their website:

http://www.crosbyhomes.co.uk/index.php?u=263

I viewed a couple of flats to let there in the summer. Seemed alright. I wonder if other Brum flats are going to go the same way????

Copied for bragging rights.....

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28-October 07 Bull or Bear?BearPosted 19 July 2009 - 08:37 PM

jersey1501, on Jul 14 2009, 01:38 AM, said:

I am thinking of buying a two bed flat in Birmingham City Centre to use as a base for trade shows at the NEC. As I won't be using it as a permanent home I need something secure and near to New St station if possible. The price swings do look alarming, does anyone have an idea of a specific block or price range I should be paying? I have looked at price sites extensively but there does seem to be some conflicting information!

Many Thanks to all in advance for their help!

...............................

Mate, the level of oversupply is horrific.

Prices will halve so you are looking at a 50-100k loss.

What is it about renting- and rolling it over on a monthly basis you don't fancy?

No risk, and if things get really bad-walk away with all your hard earned cash intact.

Please don't do this to yourself and your family.

Whole blocks are empty. Offer 500 a month.

Nick

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I think this oversupply of flats could tank the whole market.

Two bed flat for 60k, or three bed semi for 150-200k?

Hmmmm think it through.....yes.....I'll offer 90k for the house!

Nick

Edited by SurgeonGeneral
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